well, that is, the word of which image could buy gold, given that the us federal reserve system, thes central bank has been raising the rate for a year now and gold, as you know, on such tightening actions , spoke with the words monetary. politicians, that is , by withdrawing money from the system, gold ceases to pretend that it is a fighter against inflation, and gold also rises and falls. actually. she fell right on it and there were no prerequisites for the fact that, well, supposedly , money printing is planned, or at least there was no weakening. and so far, no, that is, according to the latest data on the us economy, well, which is one of the defining indicators for both credit policy and gold, including they will raise the rate in june, but gold. here , first of all, it was considered as a link to the dollar to a greater extent. therefore, if we talk about russia the other way around, how is the departure from the dollar? yes, after all these discriminatory steps that they discredited the currency to take the world war , if you take the usual, well, the layman who would like t

there will be another meeting of the federal reserve system in september, and i think what awaits usably, after all, there really is a decrease in sobering up already this one. and i think that next we will have elections not only in russia but also in the usa, and there they will definitely disperse the market to show, look, what wonderful managers we are, monitor, beat inflation. we are fine. every housewife. can become an investor. i think really autumn is a good entry point. if you are ready, how can maxim invest for 3-5:00 or more years the last question, maxim please share what you are doing to motivate yourself for further work? when you say that you have enough money to live comfortably and live there all your old age. yes, although what are our years? yes , what kind of old age are we talking about, that's what motivation is for you, taking into account the fact that, in principle, everything is there and not visible, no poverty line, no drop in income. well, first i am categorically opposed to passive income. why passive income will degrade is very simple, well, nothing in

the field of the july meeting of the federal reserve system speaks of significant risks of acceleratingeans that rates could go even higher recession in the united states and problems in the united states will uh gain momentum first . this will affect the financial sector. as the most vulnerable, we saw problems with american european banks. these problems will continue in western banks, in principle, such asset holes were formed due to the depreciation of their own capital. here again, the decline in bond prices, what will the crisis be? uh, the large-scale head of the white house joe biden himself is sure that the country's economy still, us treasury secretary janetlen, who yes considered this. such a scenario. now she has changed her mind, and a number of leading wall street analysts are predicting a recession and a potential fall in the stock market in the coming month. powerful downpour hit smolensk in some streets , waist-deep water flooded the entrances of several residential buildings and a shopping center, from which visitors had to be evacuated. the traffic lights are out of o

and now china's gdp growth is less than the average accounting rate in the world and the federal reserve system began to raise the interest rate, the chinese were also forced to raise it, that is, they have actually stagnated the economy, if they do not stop it, they will not restart the economy for them, this is an economic crisis and it can even lead to a hot war , and therefore, uh, from the slowdown of the world economy in many ways caused by russia's war against ukraine, and therefore china, as one of the drivers of the world economy, is interested in returning to trade with everyone, but for china to have its profits, how long can china hold out, relatively speaking, for a year, two, three in fact, there is not much time, and therefore if the world fall and the fall of the chinese academy will continue, then the involvement of china in a hot war may be inevitable. sparta and facade wrote that a war between them is inevitable, some american viewers and from other countries also write that the war between the united states and china can become no less. but china is not ready for war today.

the minutes of the july meeting of the federal reserve system speaks of significant risks of acceleratingt the rates could be pushed even higher by a recession in the united states and the problems in the united states will , uh, gain momentum in the first place. this will affect the financial sector. as the most vulnerable, we saw problems with american european banks. these problems will continue with western banks, in principle. such asset holes were formed due to the depreciation of their own capital. here again, for a fall in bond prices, so that the crisis will be, uh, large-scale itself, the head of the white house, joe biden, is sure that the country's economy is still strong, the head of the us treasury, janet yen, who even considered this. this scenario has now changed its mind, and a number of leading wall street analysts are predicting a recession and a potential fall in the stock market in the coming months. due to heavy rain german nuremberg went under water. trains and public transport were disrupted, hundreds of houses were flooded and cars were forced to climb out of thei

us national debt is growing, the federal reserve system, which performs the function of the central bankthe rate also in the states there is a trend towards an economic downturn. decrease in tax revenues is expected the american authorities were also reminded that disputes over the limit have been going on for 20 years. the state long-term decision to increase it is made at the last minute. just to avoid a credit rating default. the us had previously downgraded another s&p agency, this was in 2011, when the decision led to the sale of assets in stocks on the stock market. experts believe that this time there may be more a significant collapse in the white house when they said they did not agree with the downgrade ; they believe that joe biden has achieved the best results in restoring the national economy after the coronavirus pandemic. well, in the meantime, the democrats made a new attempt to send donald trump to jail , joe biden's main rival in the upcoming elections was charged with another charge, which threatens him with up to 50 years in prison. the former president is charged, am

however, thanks to the minneapolis federal reserve, federal reserve system is worth every penny when it comes to doing things like this. they have reconstructed a cpi for this period, 1916 to 1920, a cpi that's available at the minneapolis federal reserve's website for those students who are looking for a term paper and the cumulative price increases across that period, it's a basically the fourth four year period of where we're running. we ran at 84%. so we had 84% it nearly prices, nearly doubled. in other words, it was a period of stunning inflation, stunning inflation. again, probably related to supply chains and and monetary expansion. the classic sources of inflation between 2019, 2023 being less than the organization i hit up the cpi. by 19%, which is a striking increase in prices in both periods. we're populated by war external disturbances, regional conflicts that threaten to derail rates of economic expansion expansion. all right. so you so my premise is laid i hope successfully there are striking parallels between these two periods. and so it is, i think as a result of this

united states was actually recognized, that is , they cannot say anything definite now in the federal reserve systemyes, we are fighting inflation. with us, uh, the goal of 2% remains the main one, but nevertheless it will help to solve it. uh, as he said the softening of the labor market, what does the softening of the labor market mean, is it an increase in unemployment? because now the record is low unemployment and many academic scientists and economists are already writing that if unemployment suddenly began in america, then inflation of the basturjob would be defeated, and not by the efforts of jerome fell here but at the same time, against this background, a terrible thing happened, which means that the bank of the federal reserve bank of atlanta has a certain algorithm that allows you to actually recalculate the gdp growth rate of the united states of america on a weekly basis and for the second week in a row they show estimates of gdp in the united states of america at 5.9% growth. this caused a storm of reactions from all sides. so the magazine is icons. of course, he announced this as a s

the california department of financial protection invasion and the united states federal reserve system for feedback in anticipateation of creating the mfc and public bank. we want to know what they are thinking as soon as possible. finally, we are starting the green bank financing study, where we will -two step process. we will secure funding from the sources jeremy mentioned earlier are, the green house reduction fund and design a pilot program that mfc can then take on. >> great. thank you. the only other item in the forward calendar is executive officer report with our transition to by monthly meeting schedule. two regular meeting coming in september and november, and proposed topics are listed in the forward calendar and that concludes our report. >> thank you for your presentation. unless there-i see commissioner singh has a question. >> i have a quick question and i should have-this is on my mind when we were discussing item 3. for the green bank financing study, like, what sort of-it is great to know we are submitting the work to regulators as soon as possible because it will pr

the federal reserve system is the corporate is creating an 1930 and the fed by now and all mortgages it's all related to the fed. stop using this as the phrase. the food and drug administration and whatever his name is the reality is federal reserve is the instigator. >> we want to go to tampa bay, florida and hear from randy on the other line. go ahead. >> good morning. i'm residential superintendent in florida 40 years in the tampa bay area. it's a strange phenomena the thousands in florida coming from california and new jersey, illinois, young families but younger people don't have a chance to buy anymore. these apartment goals are going up by the mass because younger people can't afford to buy they are rising at so there is real voice. our company will do over 3000 tampa bay area 8000 units. thousand single-family home. we are booming because people are leaving. majority of them are selling up north and buying down south and a lot from warner, it's been amazing. >> you mentioned about $2000 it is $2000. i can easily do that, because so feeling more and need to go north they are m

systemic risk, that outcome was by no means certain. in particular, the resolution of silicon valley bank and signature require the use of extraordinary authority by the ftse, the federal reserve, and the treasury, the so-called systemic risk exception, under the federal deposit insurance act, to protect depositors, setting aside the least cost requirement to the deposit insurance fund. that experience should focus our attention on the need for meaningful action to improve the likelihood of an orderly resolution of large regional banks under the federal deposit the expectation -- under the federal deposit insurance act, without the expectation of invoking it. so i would like to discuss this issue in light of our recent experience, and in particular, i believe there are important changes to capital regulation, resolution planning requirements, including long-term debts, bank supervision, and deposit insurance pricing that would make a repetition of the current much less likely. so just to provide context, people's memories are remarkably short, even two or three months. just to provide context, and may be worth recounting events of earlier this year, just as a reminder. when si

the united states has said the chairman of the federal board of governors us reserve system well such, he considers it unlikely he supports the chief economist for the us bank with antennas. i don't think we will face a recession in the short term. remains solid at the moment judging by the sales figures and q3 gdp looks to be very good, but 24 seems to be more of a problem for me, it is likely that we will be able to manage nevertheless, if we have a recession, then probably this will happen next year. in a simple meeting federal reserve - this means that rates could go even higher recession in the united states problems in the united states will, uh, gain momentum in the first place. this will affect the financial sector. as the most vulnerable, we saw problems with american european banks. these problems will continue with western banks, in principle, such asset holes were formed due to the depreciation of their own capital. here again, the decline, bond prices, what will the crisis be? uh, the scale itself is the head of the white at home, joe biden is confident that the country's

i think we are near the end of that based on the rhetoric that i have heard around the system the federal reserveould tell you powell says he and his committee are committed to 2% and if they are they will have to leave rates higher for longer and may have to raise them again. i think this coming september they will have their next cpi release for august. if that is higher they will move sooner. if not they may pause and wait until late october but any case it'll have to move. i would say one of the difficulties this we all have perhaps, underestimated the stimulus power that came with fiscal policy the last three years. the amount of money put into this economy is going to take a while to work out and that means rates have to stay where they are or higher for some time to come and i think the fed is good to be under a lot of pressure in this political year to get rates down sooner than perhaps they might want to and certainly sooner than they should. neil: or slow the rate increase by an extension. can i ask you a question. when you see some of the generous labor contracts of 30 or 45%, american

federal reserve? what is saying about our system where we limp along with these settlements to keep the doors open forvernment but fall back into another shut down or fear of another one. that is already on the table right now. esther george is kansas city fed president. good to have you. do you think this reaction is justified? people say what were you thinking, all the same factors you alluded to, raised back in may, they have been part of our history for years, what has changed? >> i think the sustainability of our fiscal trajectory is terribly important and fitch isn't the first to raise this the, the congressional budget office brought this up, going back earlier this summer. it is a very critical issue to the long-term health of our economy and our standard of living. neil: i could be the crazy one, why didn't this happen before? the s&p downgraded us in 2011 and that was after a government shutdown that was avoided but they still did it because of the craziness and chicanery prior. we have trouble handling our finances and keeping the government going and piling up of this debt, that's a real p

reserve. i am sure that in this way the federal personnel reserve in the civil service will include persons of high managerial competence. the work of the entire tech and our economy depends. transneft's pipeline systemmany people are in the company now about 125,000 people work, those who somehow connected their fate with the oil industry, that is, our task is not only to pump. this means that transneft still maintains the characteristics of the variety. we looked and got acquainted with many engineering solutions, canadian and others, but we went our own way. no, no source of energy will continue to take its share in the energy balance of the world for a long time. the roof floats on the surface of oil , this pumps evaporation. that is, it is an environmentally friendly roof 15 years ago, my laughed. we only had oil connections. today we stood in the control room, a different cosmos is the future. yours followed the street and alleys behind each house . on august 30, there was a raid directly on the center of kursk. we had to crawl out under the rubble of the house. the public building suffered the most in the city, only the skeletons of the wall without ceilings were burned. killed 38.099 civilian

the if i heated up to a high temperature, it will liquefy a federal reserve, but it needs to be very hot. the music they might say to my system which stand sheet or to 40 degrees celsius. more in and in my vehicle need an oil that dentist would be bought can't be used to then. so the technology itself is not new . in the 2 thousands, some cars in europe ran on vegetable oil and gas stations. you could sometimes even get rate seat oil, pencil rodolfo. it's not a 1st for him to have a vehicle powered by recycled cooking oil between 20082010. the 41 year old drove from canada too late and a b, w. golf using cooking oil. the leaders that i had in 1987 vw golf, a 1.6 liter diesel, named laura visa and one of them that also ran on oil. yes. is that expedition from canada to chilly? last week 22. my going to is it ethics, place you on that kind of, we covered 17 countries and we had 11 people who boarded and disembarked at various points. it wasn't like an uber and severe and is there a $101.00 over at that time for adult to have the idea of using the car to educate people. the securing funding for the trip. he visited schools, disp

the if i heated up to a high temperature, it will liquefy a federal reserve, but it needs to be very hot. the music they might say to my system, which stands here to 40 degrees celsius. more in and in my vehicle need an oil that dentist would be bought can't be used to then. so the technology itself is not new. in the 2 thousands, some cars in europe ran on vegetable oil at gas stations. you could sometimes even get rate seat oil, pencil rodolfo. it's not a 1st for him to have a vehicle powered by recycled cooking oil between 20082010. the 41 year old drove from canada the to a and a b, w. golf using cooking oil. the leaders that i had in 1987 vw golf, a 1.6 liter diesel, named laura visa and one of them that also ran on oil. yes. is that expedition from canada to chilly last week? 22 months or so? is it ethics? place you on that kind of, we covered 17 countries and we had 11 total who boarded and disembarked at various points. it wasn't like an uber or suv yet, or is there a $101.00 over at that time for adult to have the idea of using the car to educate people that securing funding for the trip. he visited schools, displaye

it's clear the banking system is under a lot of pressure, similar to the pressure that existed in march, you know. at root, it's the federal reserve'ste hikes that's raising the cost of funds, the deposit rates that banks use to fund their loan growth, and, therefore, it's undermining or weakening their profitability. there are other issues. credit quality, which has been good, starting to weaken. delinquency, defaults on credit cards and commercial real estate loans are starting to rise. loan growth is weak. you know, the economy is turning softer because of the interest rates. and the banks themselves have tightened up on their standards for making those loans. so there are a lot of things that are coming together that are putting pressure on the banks, and that's, you know, i think, pretty clear. one thing i will say, though, victor, is that this isn't a surprise. to a large degree, it's by design, right? the federal reserve is working hard to slow growth down. one way they do that is putting pressure on the banking system so the banks pull back on lending. and that's exactly what's happening. >> a good point. when the banks pull

you should reduce the load on the unified energy system , in which it is very important now to create a capacity reserve in case the russian federationesorts to attacks on the energy infrastructure after the start of the m-m of the heating season and what about our energy infrastructure, how far did it manage to update itself after those russian attacks during this time , the heating season has not yet started well, it does not update itself, therefore well, everything depends on do the operators of ukrenergo have the appropriate resources, in particular, it stated that more than 85% of damaged objects have been restored, and this is a very good indicator. the same statements are approximately the same. the same estimates are also from large companies from oblenergo from dtek, yes, all of them the operators i named say that the starting conditions in this season are much worse than in the previous one, but in addition to the worse starting conditions, there are also better conditions, namely better conditions for the protection of critical infrastructure objects, because comparing air defense forces and, for example , beginning of th

federal reserve. actually, i have always treated them with respect, so to speak, because they simply do not steer the financial system the united states here. i dmitry fully agrees to build a system where you get anything and more for pieces of paper this system is to save the sixties through the golden path to carry through the seventies to deceive the entire world community by creating special drawing rights and saying that we will soon switch to them, and then from this to refuse to start selling gold, and then to withdraw this decision, the conference king resembles a janets. this feeling through the heavy forties sixties celebrations that i don't love you. yes, it's about the same here. yes around everything around you doesn't like americans around everyone else's toes. after that , after the system collapsed, they lived for 50 years. andrew i did not collapse the system launched in the late seventies in the early eighties . after the rejection of the gold backing , the fixed rate was abandoned, but it is based on two pillars. the first whale is military power, yes, and the second whale is much more important, a

system. then the next day the fed struck back. so look, charles, we're seeing the federal reserve get involved and guess what?imaginable that the federal government would get involved in this business but that looks exactly like where we're going. back to you. charles: no doubt about it, thank you so much, gerri. i want to bring in josh rosner graham fisher coauthor of these are the plunderers, how private equity runs and wrecks america. josh, i can't wait to talk about your book. let's pick up what gerri was showing us. the battle lines have been drawn. we understand why governments want to protect fiat currency. by same token we understand why consumers like the these are used in china not only as transactions to watch, punish citizens. paypal news, major step in direction maybe no one in authority wants us to go. >> remember, stable coins unlike crypto are backed one for one with dollars. charles: right. >> so they really are a digital representation of the dollar in your pocket backed -- charles: not a new version of currency though because some governments hey, you're this is like when states used to iss

system. the dow lost 158 points. the nasdaq was down 110, and the s&p 500 lost 19 points. >>> americans have been swiping their credit cards more than ever. the new york federal reservet card debt in this country topped $1 trillion in its second quarter. researchers attribute the $45 billion spike to strong consumer spending and higher prices due to inflation. this as overall household debt loads were largely unchanged. >>> espn has signed a $2 billion sports betting deal with penn entertainment. the ten-year deal includes rebranding a barstool sports book app as espn bet this fall. the new app will be promoted on espn's platforms, and the deal also includes access to espn programming and talent. it comes as sports betting is rising in popularity. it's now legal in 38 states and the district of columbia. >>> and taco bell is celebrating the end of its battle with taco john's over that taco tuesday trademark. the chain will offer free tacos at some locations every tuesday for the next month. then on september 12th, in partnership with doordash the company will put $5 million to orders from any participating vendor selling mexican food. >>> that's your cbs "money watch

you know, and if you are designated systemic, what ultimately means is you have some back up regulation the federal reserve of the entities in question but certainly know the treasury sets a lot of the agenda and if you want to focus on financial regulation that will be part of the agenda. if you feel like the focus is on issues beyond financial regulation that can take up the agenda. you know, part of the frustration course is that, you know, i kind of quip and book that fsoc is really at identifying problems. none of its members have actual responsibility for. and it's not so at, you know is a real chance to criticize your fellow council members. well that let's press that for sure i understand collegiality and different of expertise on different questions underlying statutes that drive the active of these different agencies. but you've used the word throughout the hour that i think it's really important that we we tackle before we finish, and that's independence and if they're truly independent, it doesn't matter what. one member of a of a dream team of regulators about them. i mean, the oxi and the the

system. >> there have been anti-conservationists from the beginning of these public lands being reserved and retained by the federalgovernment and i think they pop up during different times. there was a big movement after world war ii, a hope that a bunch of the land could be returned again to the states, most critics of the movement said this isn't about that. it is about not supporting the conservation movement at all, so it was trying to undermine that with the idea, less idea of sustainability and more maximization of private profit to make it easier and the polarization we are living through, we have seen this and we see it play out on conservation issues where wildlife refuges are taken over by protesters or wilderness study areas have roads carved into them to prevent them becoming wilderness areas. once - one set of radicalism -- one set of radicalism leads to another and these things ratchet up and i think the antidote to that is hard work, it is sitting down at the table, i imagine this table most of the time in this book being around the where you sit at this roundtable and we can see each other, we are

system. all of it is almost gone. and what we got left with it is inflation that won't go away and the federal reserve that may do tooou hear from the administration that the economy is bumping along and that they may actually hit this soft landing and all the fears of recession haven't happened. you look at the g.d.p. the gross domestic product number out told, today, charles. it was estimated at 2.4. the actual is 2.1. april to june, what do you see in that number? >> yeah. it came down a lot faster -- it's coming down a lot faster than folks had anticipated and, again, this gets me to the federal reserve. i hope they don't do too much. i believe what they have done already will have a deleterious impact on the economy for several months to come. i do want to say one thing about the soft landing. a great report out on families who are already receiving food stamps. ebt. 42% of them are now say they are skipping a meal. last summer only 20%. 51% say they are eating less. last summer 21%. 40% relying on charity. 34% say they rely on food pantries. the most stunning of all of this these families who are children, bret

system. >> yeah. so there have been anti-conservationists from the beginning of these publicli lans being reserved and retained by the federal government. and i think that again they sort of popped up during different times. there was a big movement right after world war ii. there was a hope that a bunch of the land could be returned, return again to the states peer and most people, most of the movement saidt this isn't about that. it's about not supporting the conservation movement at all. and so it was trying to undermine that with o the idea less of an idea of sustainability and more maximization of private profit to make it easier. and the polarization that we are all living through as adults, we see this and we see it play out on conservation issues where wildlife refuges are taken over by protesters or wilderness study areas have roads carved into them to try to prevent them from becoming wilderness areas. and so i think one set of radicalism leads to another set of radicalism in these things sort of ratchet up, and i think the answer to that is hard work. it's sitting down at the table and like i sort of imagine this

federal reserve . actually, i always treated them with respect, so to speak, because it’s just no they steer and the financial systemee with dmitry to build a system where you get anything you want for pieces of paper, and moreover, save this system through the sixties through the golden path through the seventies, deceive the entire world community by creating special borrowing rights and said that we will soon switch to them, and then refuse to start selling gold, and then withdraw this decision of the kingstown conference. it's a move to say. yes, i passed. this feeling through the heavy forties through 50 , to hold the roaring sixties celebrations, which, yes, here, here, about the same thing. yes around everything around you do not like the americans around the fingers of all the rest only interestingly lived after that after the system collapsed. they lived 50 years. andrew i did not collapse the system launched in the late seventies in the early eighties . after the rejection of the gold backing of the fixed rate, they abandoned it on two pillars. this is military power, yes, and the second kinder is much mor

system. because when you raise interest rates, real people suffer . real people suffer. >> oh, nine months ago, when the bank of england raised rates by just nought .25% in the federal reserve in the states, was raising by nought point five. when think that filtered when do you think that filtered through? is that one of the reasons why british inflation is now higher than american inflation? >> there are lots of reasons. british inflation is now higher than inflation. the than american inflation. the main money is main reason for my money is energy prices. we have a system in the uk that i've been at pains to explain here on gb news in tiny little timeslots so people actually get it where the price of electricity is determined by the marginal price of wholesale gas because we have so many gas fired power stations backing up the renewables that just sit there idle. but they have to be ready to be literally fired up to replace renewables on the many, many days when the sun doesn't shine and the wind doesn't blow. so that's a big reason why our electricity pnces reason why our electricity prices , energy prices generally prices, energy prices generally are high, and that feed

growth in government debt tightening of the federal reserve system trend towards recession based on such indicators leading agency fitch downgraded the us long-term rating downgrade reflects the expected worsening of the financial position over the next three years the government's high and growing debt burden and weakening of management are also among the reasons for the increase in the state budget deficit, the united states and the increase in interest rates in the white house predictably with the solution of features. strongly disagree . well, by the way, the authoritative agency standartenpurs lowered the level of the states back in the eleventh year after the debt ceiling crisis. belarusian agrarians are approaching the 2 million milestone in terms of threshing 28.5% of the area has been processed , the harvest is going around the clock faster brest grain growers in the region have harvested 45% of the area for milk production more than 600.000 tons of grain almost on a par with the grodno minsk region 441 and 435.000 tons of new bread grodno region and leader po yields of almost 2