At the same time as Russia has targeted railway lines as part of the effort to block U.S. arms shipments into Eastern Ukraine, Vladimir Putin has now followed through on the previous warning to stop Russian gas supplies unless payments are made in non-sanctioned Rubles.

Poland is obviously the primary target for retaliation here, as the NATO alliance is using Poland as the gateway for arms deliveries into Ukraine.

According to multiple reports from the EU Russia has halted gas shipments into Poland and Bulgaria.  (Reuters) “Gazprom Russia’s gas export monopoly, suspended gas supplies “due to absence of payments in roubles”, as stipulated in a decree from Russian President Vladimir Putin that aims to soften the impact of sanctions.”

There are conflicting reports as to whether Germany is paying Russia, or whether they are trying to avoid running afoul of the NATO alliance by reducing Russian imports.

Ukraine President Zelenskyy is using the opportunity to reinforce his position that all European countries need to stop purchasing energy from Russia, or else they are not supporting Ukraine.   However, it’s not as simple as it seems because multiple EU countries are dependent on Russia for energy products and there are no immediate alternatives.  Russia is leveraging this dependency in an effort to break the western sanctions.

(more…)

Goya Foods CEO Bob Unanu appeared on Fox Business earlier today in order to give a bigger picture review of the current status of food production. Unanu does a good job outlining how the interconnected systems from field to fork impact consumers.  The Goya CEO appropriately outlines what is happening and what the consequences are from Biden energy policy.  It’s a good interview.

Unanu does not push food alarmism and accurately states the U.S. food production system will ensure that food is available for U.S. consumers to purchase, albeit at higher prices.  The people most at risk from food insecurity are developing countries who rely on exports of food products generated by efficient, productive and exceptional farming operations in North America that feed the world.

For U.S. consumers it is the massive increases in energy and transportation costs that are driving up food prices, putting the issue of food insecurity into the correct context of food affordability.   WATCH:

.

Consumers can offset the price impacts by shopping closer to the field, the origin of the food purchases needed.  Shopping for fresh food products at farmers markets avoids feeling the impact of shipping and transportation costs, and it helps the local economy.  If you are near areas with farm production in the United States consider the financial value of skipping the convenience of the supermarket in favor of shopping closer to the field.

In the field to fork food supply and distribution system, the closer you can get to the field for purchases the less costs you will encounter.  Obviously, for many people this may not be possible.  However, for others it might be time to evaluate the cost of convenience.

(more…)

Another item in the long list of ‘thanks Joe Biden‘ stuff.  Shortages in natural gas in windmill chasing Europe have driven up the prices significantly.  The conflict between NATO and their targeted villain in Russia is only making matters worse.

As the EU prices jump to $33/$34 per million British thermal units (BTU’s), the U.S. natural gas selling at $6 per million BTU’s is an absolute bargain.

Liquify that stuff and send it across the pond says any smart energy capitalist.

However, that comes with a problem for us.  Our supplies of natural gas are depleting quickly, our exports are now almost three times more than our production.

LONDON, April 8 (Reuters) – U.S. gas prices have climbed to their highest level in more than a decade as strong demand from overseas has emptied storage and left inventories well below average for the time of year despite a mild winter.

Front-month futures for gas delivered at Henry Hub in Louisiana have risen to $6.40 per million British thermal units, the highest in real terms since 2010. Wholesale prices in the United States are still far below those prevailing in Northeast Asia ($33 per million British thermal units) and Northwest Europe ($34).

[…] U.S. LNG exports rose 13% in the three months from November to January compared with the same period a year earlier, while gas production was up by less than 5%.

(more…)

U.S. District Judge Robert Summerhays has agreed to issue a temporary restraining order [pdf ruling link] blocking the administration’s planned May 23 lifting of the CDC immigration rule known as Title 42.

(MSM) – […] The judge said he agreed to issue the restraining order after holding an online status conference on Monday between lawyers for the states and the Centers for Disease Control and Prevention.

The details of the order, however, remained unclear — the notice said attorneys for the two sides “will confer regarding the specific terms to be contained” in the order “and attempt to reach agreement.” (more)

NBC is reporting that more than 170,000 illegal aliens, most not from Mexico, are waiting on the other side of the U.S. border for Title 42 to be lifted.

(more…)

Given the scale of the stakes for western government; and given the professed intentions of govt-aligned big tech to control the story; it is almost impossible to have an honest and open dialogue on the internet about what is happening in Ukraine.  That said, for those who have been using independent resources to form their own opinion of the events in/around Ukraine, this interview highlights some important aspects.

First, notice how Prime Minister Shmyhal is not the least bit bashful about saying cash is important because American taxpayers, the working American people, have a duty to fund the pensions and retirement accounts of the Ukrainian people, including govt politicians. [03:37] Indeed, much of the financial assistance Joe Biden has been sending to Ukraine (beyond the weapons to support the proxy war) is going toward paying the wages and salaries of corrupt Ukranian leadership.

Let that first point settle in deeply, as we consider how working Americans are being financially destroyed by U.S. monetary/fiscal policy, yet the same U.S. officials wiping out your bank account are funding the bank accounts of people in Ukraine.  Interview WATCH:

Second point.  Notice [06:02] how Prime Minister Shmyhal hedges, pauses and thinks about the response to the question of ‘what is victory’, a stalemate or Russian exit?  In the U.S. proxy war against Russia, Shmyhal is not the person who can answer that question, only the White House can.

(more…)

Several people have written to inquire about recent stories surrounding a wave of industrial accidents at food processing plants all over the U.S.  {Zero Hedge Article} {Twitter Questions, Suspicions} {List from Western Standard}

Indeed, there has been a significant increase in fires and explosions from furnaces, industrial fryers, boilers and some other rather odd incidents with aircraft hitting food processing.  The frequency even gathered attention from Fox News host Tucker Carlson.  WATCH:

Addressing the lesser frequent impact incidents from airplanes etc.  Keep in mind that major industrial food processing facilities are generally located around major transportation hubs – large arteries for commercial trucking and railway lines for inbound good deliveries.  These are the same zoned commercial regions where you find small regional airports.

So, let’s put those airplane ‘accidents” aside for a moment and look at the bigger picture.

(more…)

Robert Lighthizer was the U.S. Trade Representative (USTR) under the Trump administration.  Lighthizer was exceptionally strong in developing and structuring the America First trade policy that included the effective use of tariffs to get fair trade outcomes.

In this video Ambassador Lighthizer discusses the current trade policy of the Biden administration with former National Economic Council Chair Larry Kudlow.  The discussion centers around U.S-China trade policy, the phase-1 trade deal that was interrupted by the pandemic, and the future of the existing trade tariffs against Beijing that Biden is reportedly going to remove.  WATCH:

As noted by Lighthizer, if Biden drops the Chinese tariffs, it will only make the trade imbalance worse and push the U.S. deeper into the cycle of lost jobs and economic contraction.  He’s correct.

(more…)

It’s not exactly a confidence builder when the Director of the International Monetary Fund answers the question about forward priorities by saying, “Perhaps we need to pay attention to the law of unintended consequences.”  You had one job Kristalina, one job.

During an International Monetary Fund (IMF) spring debate and discussion segment, IMF Managing Director Kristalina Georgieva, outlined her perspective against the backdrop of massive inflation caused by the global financial institutions telling government to spend money and they will print it, during COVID.  [The video is prompted to 01:04:50] WATCH:

The discussion included EU Central Bank President Lagarde, US Fed Chair Powell, Indonesian Finance Minister Mulvani – when IMF Director Kristalina Georgieva admitted they channeled their COVID fear and emotions by unsustainably printing money without pausing to think through the consequences.

Now, the world is facing massive inflation, economic contraction, looming hunger, widespread famine and a pending global financial collapse.

Their response? “Whoops.”

Not to worry, they’ll have a little wine and chocolate and figure things out.  Swear.

(more…)

The Biden administration is desperate to get to June when they can start to cycle through the anniversary of the 2021 inflation spike beginning and start to see annual inflation comparisons level off.  The rate of inflation will drop once the statistical year-over-year comparisons reach the same moment in the prior year.  The fed will raise interest rates in May and then use the June inflation rate decline as a false talking point to highlight how their policy is working.  They wait for May, because they need to wait for the calendar, nothing else.  Inflation is measured as the percentage of change from the prior year.  By waiting until the inflation is measured against the first wave of rising prices, it will give the illusion of a decline in inflation.

That’s the unspoken background behind Janet Yellen’s statements to CNBC where she says, “We’ll have to put up with inflation a while longer.”  It’s all about kicking-the-can until the statistical comparisons lessen, nothing more.  WATCH:

When we reviewed the last inflation report at 8.5% we noted, “We will need to watch the service side closely now to see if consumers start to lessen travel, entertainment, and other service side expenses.”  We are starting to get the first signals of serious trouble on the service side now.

(USNews) – […] S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to a reading of 55.1 this month from 57.7 in March. That reflected a moderation in activity in the vast services sector.

(more…)

Ukrainian President Volodymyr Zelenskyy told the International Monetary Fund today he needs $7 billion per month in global subsidy in order to supplement the economic losses currently being incurred.

(VIA CNN) – “Ukrainian President Volodymyr Zelensky said on Thursday that Ukraine needs $7 billion per month in financial assistance to make up for the economic losses from the war. 

In a virtual address to a World Bank forum, Zelenksy also said that it would take “hundreds of billions of dollars” to rebuild his country later. 

He said every country must be prepared to break all relations with Russia and that Moscow should “immediately” be excluded from all international financial institutions including the IMF and the World Bank.” (link)

Plus, “10% for the big guy”.

(more…)