Segment 1: Weathering the Economic Fallout SEGMENT BEGINS AT 00:38 Due to poor economic policies, there is an even greater slowdown in the global economy on the horizon. Listen as economist Jerry Robinson gives us a glimpse into 2023 and shares a simple way to...
‘END OF THE PETRODOLLAR’
This is America’s ‘Economic’ Achilles Heel
FTMDaily.com – When I first began warning about the eventual fallout of the petrodollar system back in 2006-2007, I had very few peers who shared my concerns. But over the last couple of years, I have been grateful to see the rise of many similar voices warning about the impending dangers associated with America’s unsustainable dependence upon the current “oil for dollars” arrangement. (In many ways, the petrodollar system is the American economy’s vulnerable “achilles heel.”)
This morning, I was pleased to be sent an article from Casey Research entitled: The Colder War and the End of the Petrodollar. It was written by their energy investment specialist, Martin Katusa. I encourage you to read it as it contains some valuable insights into the current state of America’s crumbling dollar demand.
You can read the article here.
Additionally, if you have never read our four-part article series on the coming collapse of the petrodollar system, you read it here. You can also check out the above video in which I explain the petrodollar system in extremely simple terms.
Its true… The petrodollar system is crumbling. And its ultimate demise will catch most Americans off-guard. Don’t be one of them.
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Inside this Issue
Despite a weak report on U.S. economic growth, the S&P 500 rose to another high Thursday as investors bet the economy is on the mend.
US GDP contracts for first time in 3 years…
Fears of a slowing economy drive bond yields to their low of the year…
No deal means the two parties may have to settle their difference in court.
Increased imports from Norway?
The biggest energy deal between China and Russia could be the catalyst that dethrones the greenback as the world’s reserve currency.
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U.S. Financial Markets
Real-time Gold and Silver Prices
Precious Metals Market Update with Tom Cloud
President Shimon Peres and Palestinian Authority President Mahmoud Abbas will meet at the Vatican and pray for peace together at an unprecedented gathering on June 8, the Vatican said on Thursday.
So far, this year has been the bloodiest since 2008.
DOD Official: “The latest step in the administration’s decision to use force within the United States against its citizens.”
The leaders of Russia, Belarus and Kazakhstan on Thursday created an economic union that intends to boost cooperation between the ex-Soviet neighbors, a pact which was at the source of the crisis in Ukraine.
Thursday is the opening day of the influential three-day summit and it’s also the 60th anniversary of the Bilderberg Group’s first meeting, which took place in Holland on 29 May 1954.
The deputy commander of Iran’s Revolutionary Guard, Brig.-Gen. Hossein Salami said that the US’s status in the world has deteriorated and that its collapse is near.
An Introduction to Peer to Peer Lending
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Topic: On this week’s episode, Jerry Robinson is joined by Thomas Cloud, Jr. for a discussion on peer to peer lending.
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“A Daily Dose of Financial Wisdom from God’s Word”
“Prepare your work outside and make it ready for yourself in the field; afterwards, then, build your house.”