by Peter Schiff, Schiff Gold:
The “resilient” American consumer seems to be running out of gas.
Americans are still running up credit card debt but at a much slower pace. Meanwhile, borrowing for big-ticket items has cratered.
Total consumer debt rose by $5.2 billion in October, according to the latest data from the Federal Reserve. That was a relatively small 1.2% increase.
Americans now owe $4.99 trillion in consumer debt.
by Ron Paul, Ron Paul Institute:
President Biden recently repeated the claim that high prices are caused by greedy businesses. Biden is not alone in trying to gaslight the people into thinking price inflation is rooted in the actions of private individuals and not the fiat money system Americans have lived under since 1971. In the media we see excessive consumer spending on luxury items, for example, being blamed for continued price inflation. The fact is that increased consumer demand can only cause prices to rise in those sectors of the economy subject to the increased demand. Prices increasing across the economy are always the result of the Federal Reserve’s conduct of monetary policy.
by Mish Shedlock, Mish Talk:
The boom-bust cycle in California is back to bust again. Governor Newsom faces some tough economic and political choices.
My, How Things Change
As California’s state budget morphs from a $97.5 billion surplus to a multi-billion-dollar deficit, it’s another reminder about the volatility of the state’s revenue system.
from Sputnik News:
by Simon Black, Sovereign Man:
Yesterday Senator Elizabeth Warren used a Wall Street oversight hearing to whine about cryptocurrency.
At one point, almost as if a well-choreographed football play, she passed the ball to Jamie Dimon — CEO of JP Morgan Chase, the biggest bank in the world — to “explain why crypto is such an attractive financial tool for terrorists, drug traffickers, and rogue nations?”
It’s hard to imagine a more loaded question.
Mr. Dimon gleefully caught the pass and said:
from SGT Report:
Lior Gantz returns to SGT Report to discuss US debt load and the end of global hegemony, silver & gold suppression and much more. Thanks for tuning in! And stay tuned top SGT Report, MUCH MORE to come in the weeks ahead.
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from Sarah Westall:
TRUTH LIVES on at https://sgtreport.tv/
by Turd Ferguson, TF Metals Report:
Our old friend, DenverDave, returns today to wrap up the year and look ahead to 2024. What’s in store for the economy, the precious metals and the mining shares? Come on in and have a listen!
It’s always fun to get caught up with Dave and few in the PM space have the depth and breadth of knowledge and experience that Dave possesses. You should be sure to check out his website and, while you’re there, consider subscribing to one or both of his newsletters. It’s going to be a volatile year ahead and you’re going to need as much independent and objective analysis as you can find.
by Greg Hunter, USA Watchdog:
Another huge story of yet another country shunning the US dollar. This story is going totally underreported by the Lying Legacy Media (LLM): United Arab Emirates (UAE) has announced it is no longer using the dollar for oil trade. This is a monster shift that inches the US dollar to losing reserve currency status. The UAE recently joined the so-called BRICS economic alliance, and all the BRICS countries are either depending on the dollar less or doing away with it altogether in trade. If the trend continues, this could spell disaster for trillions of dollars in debt that need to be sold in the Treasury market to finance America.
by Craig Hemke, Sprott Money:
In thirteen years of monitoring the precious metals, I’ve seen countless interventions and manipulations in the gold market. Some are obvious and overt, but most are subtle and missed or overlooked by traders and investors. What you just saw on Sunday, December 3, was definitely not an intervention of the subtle variety.
from reallygraceful:
TRUTH LIVES on at https://sgtreport.tv/
by Scott S. Powell, American Thinker:
America in the twenty-first century has been on an accelerating descent not unlike what befell ancient Rome. For some four centuries Rome’s Senate and constitution provided continuity which sustained the Roman Republic through various challenges. But in the end, what befell Rome from barbarian invasion, political corruption, and mobs that were manipulated and used by its Caesars, was a rampage against reason and freedom, leading to the Republic’s demise and transition to a centralized imperial authority under emperors.
by Pam Martens and Russ Martens, Wall St On Parade:
Tomorrow at 9:30 a.m., the CEOs of the eight mega banks on Wall Street will take their seats at a hearing called by the Senate Banking Committee as part of its annual nod to the pretense that it is providing oversight of these inscrutable Frankenbanks.
Among the gang of eight will be Jamie Dimon, Chairman and CEO of JPMorgan Chase, the largest bank in the United States with a rap sheet that makes a mockery of U.S. rules for maintaining the safety and soundness of banks.
