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Palisades Gold Radio
May 19, 2022
Tom welcomes Paul of The Sirius Report to discuss the short-sighted policies that are driving up the costs of most commodities. The Europeans are discovering they have few alternatives to Russian oil and gas. Nordstream 2 would have doubled the amount of energy available to Germany, but they instead decided to create their problems. The green revolution brought its own problems; including reducing the best green energy, nuclear. Wind and solar come with their own problems including most panels come from China. Logically, Europe can’t divest from Russian energy very quickly or perhaps at all.
In a sense, we now have a petro-ruble, and Russia may begin selling its other commodities for Rubles. There is consideration being given to backing the ruble with gold and this seems inevitable. Increasingly, global trade is being conducted in non-dollar terms.
Hiking energy costs and inflation are impacting the price of food in most countries. If manufacturing is halted due to a lack of energy then we’re going to see much more unemployment. Countries are destroying their economies. Many countries are taking notice, and there is a partial collapse of trust with the West.
The United States is going to have to learn to compromise if it’s going to be a part of the global economy. It needs to build strong relationships with nations that its currently at odds.
The Fed can’t raise rates significantly and other central banks admitthey can’t control inflation. Regardless, raising rates won’t have much effect on stagflation. The entire economy now depends on debt and credit.
He discusses the risks and lack of regulation in the crypto space and how it’s driven by sheer speculation.
https://www.youtube.com/watch?v=UQZdq-D0Tsc
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