On Wire

Breaking news, updates, and reports on current events.

Biden Signs ‘Death Warrant’ for U.S. Dollar

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On March 9, 2022, President Biden quietly signed Executive Order 14067. Buried inside this order is a sinister provision that could give the government unprecedented control over your money and freedom. In fact, this provision sets the stage for: Legal government surveillance of all U.S. citizens Total control over your bank accounts and purchases And … Read more

Jim Cramer on Bear Stearns (2008)

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by Martin Armstrong https://youtu.be/V9EbPxTm5_s This is a reminder of why I warn against listening to the talking heads. Unlike advanced AI software, these mouthpieces speak from a biased perspective. On March 11, 2008, Jim Cramer told his audience on CNBC’s “Mad Money” that “Bear Stearns was fine!” At the time, the stock was going for … Read more

BIDENFLATION: Americans are “feeling the pinch” as prices skyrocket and families are forced to cut back: Eggs up 40%, Milk up 17%, Bread up 16%

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BIDENFLATION: Americans are “feeling the pinch” as prices skyrocket and families are forced to cut back 🥚 Eggs up 40%🥛 Milk up 17%🍞 Bread up 16% pic.twitter.com/HlqbXteZso — RNC Research (@RNCResearch) September 20, 2022 "The decline of the US housing market is both disinflationary and inflationary—it lowers demand for building materials but people still have … Read more

The Fed Is Wrong to Make Policies Based upon the Phillips Curve

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by Frank Shostak via Mises Speaking at Jackson Hole, Wyoming, on August 26, 2022, the chair of the Federal Reserve, Jerome Powell, said the Fed must continue to raise interest rates—and keep them elevated for a while—to bring the fastest inflation in decades back under control. Powell said that a tighter interest rate stance is likely to come … Read more

$60 trillion property market imploding in China

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CITIGROUP $C IS WARNING THAT FINANCIAL CONTAGION HAS SPREAD SO FAR ACROSS CHINA’S PROPERTY INDUSTRY THAT EVEN STATE-BACKED DEVELOPERS ARE AT RISK OF SURGING DEFAULTS $60 trillion property market imploding in China $FXI $KWEB $BABA $JD $PDD — Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) September 19, 2022 The “massive” correction in China’s commercial real … Read more

German top GAS IMPORTER UNIPER broke. Being nationalized by government now – Venezuela style

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The German government is closing in on an agreement to nationalize gas giant Uniper SE, as Berlin moves to stave off a collapse of the country’s energy sector. A provisional agreement between the government, Uniper and its main shareholder, Finland’s Fortum Oyi, has been reached, according to people familiar with the situation. While contracts haven’t … Read more

A One-Term President?

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by Martin Armstrong The debate continues on whether Joe Biden will run for re-election in 2024. Any sane citizen clearly would not encourage him to continue ruining America. The Democrats have even voiced concerns over Biden’s effectiveness as a two-term president due to his frequent blunders and low poll ratings. His age and declining mental health have made him … Read more

Chinese warned not to touch foreigners

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Chinese citizens have been urged not to make skin-to-skin contact with recently arrived foreigners, after the first case of monkeypox was registered in the southwestern Chongqing municipality last week. The warning was issued on Saturday by Wu Zunyou, the chief epidemiologist at the Chinese Center for Disease Control and Prevention (CCDC). Writing on his official … Read more

The yield on corporate junk debt is nearing 9%. It will be very expensive for borrowers with maturing bonds to refinance at these levels

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by silvertomars https://twitter.com/NorthmanTrader/status/1572208495381839873 U.S. 2-YEAR TREASURY YIELD HITS HIGHEST SINCE NOVEMBER 2007 AT 3.973%, UP 3 BPS ON DAY — *Walter Bloomberg (@DeItaone) September 20, 2022 How far will the Fed go? Expectations for the terminal rate have climbed to 4.4%, after which the market would anticipate five rate cuts, back to what is likely … Read more

Mayor LaToya Cantrell charged more than $29K in flight upgrades, despite strict rules against them

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Since January 2021, Mayor LaToya Cantrell has spent roughly $29,000 extra on airfare so she can fly business or first class instead of coach, despite a city policy that forbids employees from doing so, records show. The city’s longstanding travel policy directs employees to pay the difference in price when they opt for seats in any section other than coach. Cantrell … Read more

Treasury recommends exploring creation of a digital dollar

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WASHINGTON (AP) — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive order in March calling on … Read more