John Rubino, Founder and Editor of The Dollar Collapse website, joins us to discuss that sanctions against Russia may be doing more economic harm by further ratcheting up inflation in commodities, and creating even more supply chain issues. Russia is a major player in oil, natural gas, soft food commodities, and base metals, and blocking their exports may only exasperate the slowing growth forecasts for the economy this year and hurt many nations with higher energy prices.
The other potential policy error that the US and other NATO countries may be making is pushing Russia out of the SWIFT banking system and causing them to more aggressively seek an alternative outside of this banking network or the formation of another network with China and other nations suffering from sanctions. John believes this will make the safe haven appeal of gold outside of the traditional fiat system more compelling, along with the potential for cryptocurrencies to gain more appeal, and he also outlined the recent overreach from the Canadian government to protestors in the Freedom Convoy as a further incident highlighting for many people the importance to get some money out of fiat and into alternative currency options. We wrap asking that why gold hasn’t done better than just the mild increase it’s seen this year, considering the 40 year record highs in inflation, the war premium, planned central bank tightening, and the weakening US equity markets?