Remember last fall 2021 when Fed said inflation ‘temporary’ and waited six months to do anything about it? Now, fall 2022, Fed pushing rates up fast, unconcerned about precipitating deeper US and global recession, global currency crisis, and possible financial crash (watch Credit Suisse bank as frontline candidate). Listen to my October 5, Alternative Visions radio show for the discussion, as well as my commentary on OPEC’s thumbing its nose at Biden and US/NATO silly ‘price cap’ on Russian oil and for latest developments in Ukraine war with Biden and Zelensky both talking up possibility of nuclear war.
TO LISTEN GO TO: https://alternativevisions.podbean.com/e/alternative-visions-global-capitalist-instability-rising/
SHOW ANNOUNCEMENT
Dr. Rasmus views consequences of Fed rate hikes continuing on US financial markets, global currencies crisis, and capitalist financial instability. How Fed rate hikes accelerate the dollar and in turn export US inflation to emerging and other advanced offshore economies. Why Fed’s plan is to keep raising rates and there is no ‘pivot’ that US stock markets want to see. Unlike in 2013, the Fed rate hikes will continue despite the negative effects on offshore capitalist economies. Rasmus then discusses the implications of the Saudi-OPEC crude oil production cuts, why the EU’s ‘price cap’ on oil will fail, and what’s possibly behind the recent sabotage of the two Nordstream pipelines. Financial fragility in the case of Euro bank, Credit Suisse, is discussed as is the weak spots in the global real and financial economy. Show concludes with some comments on latest military developments in Ukraine war plus the growing US/Ukraine media campaign (Biden, Zelensky, etc.) messaging the US should use its first strike nuclear doctrine on Russia before it does.
Dr. Jack Rasmus @drjackrasmus









A few questions please Dr. Jack re previous and very informative broadcast . . .
1. Does New York banks holding foreign sovereign gold advantage the value of the US$?
2. Does SWIFT, of itself, also advantage the value of the US$? Of course, use of SWIFT provides a data flow back to the US Treasury on just what is gong on within foreign countries, useful to exert pressure as it suits them – right?
Notable that Russia was developing a SWIFT alternative for several years.
3. Foreign trade contracted in US$s is falling. I believe – from over 90% to 60% and heading south? As foreign countries move away from expressing international trade in US$s, how far can this go before a large devaluation of the US$ please?
Biden’s threat to incinerate 146 million Russians and the US’s vicious economic war against the world through interest hikes are grimly consistent: no effort is made to bring peace to the Ukraine or use price controls to tame inflation war is the only option considered.
Reblogged this on Calculus of Decay .