Sean Foo and Steve Hanke Saturday 8-5-2023
BRICS Expansion Confirmed - This Changes EVERYTHING
Sean Foo: 8-5-2023
South Africa, the host of the BRICS 2023 Summit has confirmed that BRICS will expand.
This means the world's biggest economic bloc is about to get even bigger!
Here's which countries are likely to join BRICS as new members and how this expansion will affect the global economy, geopolitical power and de-dollarization.
Timestamps & Chapters:
0:00 BRICS Will Expand
1:53 A New Economic Power
4:27 The Promise Of Saudi Arabia
7:05 UAE's Potential
9:40 Argentina Joining BRICS
12:33 BRICS Expansion Coming
We're Sleepwalking Into Recession – This Is the Market's Final Gasp Warns Steve Hanke
Stansberry Research: 8-4-2023
Fitch Ratings downgraded the U.S. credit rating from a stellar "AAA" to "AA+" earlier this week, citing "a steady deterioration in standards of governance" and overwhelming debt as motivating factors in its decision.
Today, Daniela sat down with Steve Hanke, an applied economics professor at Johns Hopkins University. Steve argues the Fed's aggressive rate-hike policy has caused the burden of today's out-of-control debt to weigh heavily on everyday people.
He says, "They're just running the numbers, and the numbers aren't sustainable. The burden of the debt is increasing tremendously.” Steve also contends that the Fed is using rate hikes as a guise to keep prices elevated for consumers. "Inflation is a hidden tax.
No one votes on it. It's imposed in an undemocratic way. Inflation is a bad deal," explains Steve.
He concludes by warning investors that the markets will remain volatile moving forward, highlighting the money supply as an indicator for an eventual turnaround. "We're sleepwalking into turbulence in the market. For some reason, people think this 'soft landing' thing is in the cards... I'm saying no,” he asserts.
Steve Hanke Introduction
2:14 Implications of the Fitch Downgrade
6:01 Why Downgrade Now?
7:49 Janet Yellen Says Downgrade is 'entirely unwarranted'
10:04 Is Inflation the Only Way Out of Debt?
13:41 Swiss Debt Break Model
16:31 USA Monetary Status
18:19 RFK Jr. Gold and Bitcoin Backing Dollar
19:56 BRICS Conference Approaching
23:05 Change in the Money Supply?
25:13 Avoiding a Recession