Iron Ore Futures Stumble Amid China’s Evergrande Meltdown (US Propane Up 78% Since Biden Elected President)

Let’s get ready to stumble!

Iron Ore futures are down a whopping 4.66% today as China real estate developer Evergrande plunges into insolvency. And Evergrande’s bond that matures in 2022 sinks to $29.50.

Other commodities are also sinking. One of the only commodities that is increasing today is ICE NBP Natural Gas.

And that is a shame is your rely on propane for heating, since propane prices has risen 78% since the election of “Delaware Joe” Biden as President.

Thanks a lot, Joe and Congress!

Is The Federal Reserve Exporting Inflation To US Trading Partners? US Export Prices Rose +17.2% YoY In July

Today’s import and export numbers for the USA show a disturbing trend. US export prices rose +17.2% YoY in July. That is the third consecutive month of +16.9% and above export prices growth.

That begs the question: Is The Federal Reserve exporting inflation to US trading partners through its financial repression?

The Wall Street Journal has a nice opinion piece entitled “You’re Already Paying for That $4.5 Trillion (Taxes haven’t gone up yet, but inflation and lost productivity amount to financial repression).

The Financial Repressors, Yellen and Powell.

Alarm! Gold And Cryptos Rise As Covid Spreads (Again)

The Covid Delta Variant seems to be picking up steam, we are seeing “flight to safety” assets other than Treasuries rising.

Gold and Silver experienced some serious corrections last week, perhaps because things were looking up. Then we saw Anthony Fauci scaring everyone about Covid … again. So, there is enormous uncertainty about how this will play out. In other words, ALARM!

Bitcoin and Ethereum have been climbing since Gold and Silver corrected last week. But both are up this week, particularly Gold.

The US Dollar is down slightly since the same time last year and M2 Money Stock growth has slowed.

Here is a chart showing another fear factor: the rise of the Covid Delta Variant. Deaths are only 1.7% of confirmed cases (if we believe the actual cause of death).