Tag: Economics

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UN Secretary-General Says Global Financial System ‘Outdated, Dysfunctional, Unfair’ — Calls for Reform

May 24, 2023

United Nations Secretary-General António Guterres says the current international financial system is “outdated, dysfunctional and unfair.” He stressed: “There is a systemic and unjust bias in global economic and financial frameworks in favor of rich countries, which is naturally generating great frustration in the developing world.” UN Secretary-General Calls for Reform of Global Financial System…
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JPMorgan Boss Warns ‘Everyone Should Be Prepared’ for Interest Rates ‘Going Higher From Here’

May 23, 2023

JPMorgan Chase, the largest bank in the United States, held its investor day event on Monday, where CEO Jamie Dimon answered questions from analysts and journalists. Despite market expectations of a rate hike pause, Dimon cautioned that people “should be prepared for rates going higher from here.” The billionaire banker also discussed the potential for…
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Treasury Secretary Yellen Insists US Could Default on June 1 — Goldman Sachs Estimates ‘Real Deadline’ Is a Week Later

May 23, 2023

U.S. Treasury Secretary Janet Yellen has insisted that the U.S. could default on its debt obligations on June 1. “I think that’s a hard deadline,” she stressed. Meanwhile, global investment bank Goldman Sachs has estimated that the “real deadline” for a possible U.S. default is “more like” June 8-9. Yellen and Goldman Sachs on U.S.…
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Nobel Prize Laureate Paul Krugman Warns of Disruption in Financial Markets Without US Dollar

May 23, 2023

Nobel Prize-winning economist Paul Krugman says that no currency can play the role of the U.S. dollar. Commenting on the de-dollarization trend and the possible U.S. default, he emphasized that without the USD, “financial markets will be disrupted by the lack of any safe, liquid asset.” Economist Paul Krugman on De-Dollarization and USD Alternatives Paul…
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Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand

May 22, 2023

Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that people’s anxiety about the purchasing power of…
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Ron Paul Denounces US Government ‘Deceptions’ on Inflation; Mentions Federal Reserve Involvement

May 22, 2023

Ron Paul, a former congressman from Texas and former U.S. presidential candidate, has reflected on how the U.S. government is handling inflation and how it has been deceitful on the issue. Paul believes that if the U.S. government were to really point to the root of the inflation problem, it would have to refer to…
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Biden Says He Won’t Agree to Deal That ‘Protects Wealthy Tax Cheats and Crypto Traders’ as US Default Looms

May 22, 2023

U.S. President Joe Biden says he will not agree to “a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk” as the U.S. faces the risk of defaulting on its debt obligations. “I’ve done my part,” Biden stressed, adding that it is now time for the Republicans to move…
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UBS Offers 3 Reasons to ‘Buy Gold Now’ — Forecasts All-Time High This Year

May 22, 2023

Global investment bank UBS has provided three reasons for investors to “buy gold now.” Expecting gold to break its all-time high later this year, the Switzerland-based investment banking giant has retained its “most-preferred rating” on gold. UBS Sees 3 Key Reasons to Buy Gold Now UBS, a global investment bank based in Switzerland, has presented…
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Federal Reserve Chair Powell Hints at Possible Pause in Interest Rate Hikes

May 22, 2023

Federal Reserve Chair Jerome Powell has hinted that the Fed may pause raising interest rates at the Federal Open Market Committee (FOMC) meeting next month. “Having come this far, we can afford to look at the data and the evolving outlook and make careful assessments,” Powell said. Fed Chair Jerome Powell on Rate Hikes Federal…
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Russia Involved in De-Dollarization Talks With the Islamic World to Create Independent Financial System

May 21, 2023

Russia and the Islamic world are currently discussing how to deepen the de-dollarization agenda to create a new financial system. According to statements from Russian Deputy Prime Minister Alexey Overchuk, these topics are inscribed in broader deglobalization talks, and the Russian government is invested in developing these issues with Islamic countries. Russia Talks De-Dollarization With…
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