Economist’s “News and Views” Monday 2-12-2024

13/02/2024

Dollar Needs to be Gold Backed for Chance of Survival and to Rival BRICS

Daniela Cambone: 2-12-2024

Daniela Cambone engages in a conversation with Eric Wade, the editor of Crypto Capital at Stansberry Research, also known for his authorship of “America Vs. Americans: How Capitalism Has Failed a Capitalist Nation and What We Can Do About It”.

In their discussion, Wade delves into the central themes of his book, touching upon the U.S. dollar, bitcoin, gold, and strategies for reducing taxes.

He emphasizes a shift in the capitalist approach, advocating for valuing and enhancing the worth of people’s labor.

“Capitalism is if we could respect labor more, if we could make people’s labor worth more,” he says. Wade also talks about the prospect of offering free education without imposing burdensome tax hikes.

Concluding on a bold prediction, Wade forecasts a trajectory leading gold to soar to $3,500 an ounce within the coming years. Dive into the video to gain deeper insights into his compelling perspectives.

CHAPTERS:

00:00 America vs Americans

4:34 Free education

6:44 U.S. Dollar as hard currency

8:51 Bitcoin

10:13 BRICS currency

11:30 Goal of the book

13:16 What made Eric write the book?

17:49 Socialism

19:42 Healthcare

24:17 Bitcoin ETFs/Gold

29:14 Bitcoin ETF out of the system

32:13 CBDCs

https://youtube.com/watch?v=FgWHs9Ja4I0%3Ffeature%3Doembed%26enablejsapi%3D1

Another Regional Bank Is In Big Trouble, Bank Runs Intensify

Atlantis Report: 2-12-2024

The US regional banking sector is facing a severe crisis, as three major banks have collapsed in the past six months, and another one is on the verge of failure.

The crisis has been triggered by a combination of factors, such as rising interest rates, high exposure to risky assets, and large withdrawals of uninsured deposits.

The crisis has also raised concerns about the stability and resilience of the US financial system and the adequacy and effectiveness of the regulatory and supervisory framework.

Today, we will examine the causes and consequences of the regional bank crisis and the challenges and opportunities for the surviving banks.