A Run on the Uranium Bank Has Begun

In 2016, a member of the California State Lands Commission began advancing an effort to shutter the last remaining nuclear power plant in the state: Diablo Canyon.

Diablo is the single-largest source of electricity in California, providing nearly 10% of its power.

Four years later, the man who led the charge against Diablo Canyon was leading the state—Governor Gavin Newsom.

And the political environment surrounding nuclear had, at that time, completely and irrevocably shifted.

Facing pressure from scientists, celebrity activists, and multiple former U.S. energy secretaries—as well as devastating power blackouts…

The governor quickly changed his stance.

In fact, Governor Newsom has now become a vocal advocate for Diablo Canyon.

He has introduced legislation to keep it operating.

And he plans to get part of the $6 billion in federal funding available to ensure it does.

SWIFT Is Adopting Blockchain Technology to Speed Up Transfers

By Nick Rokke

It’s the single most important financial institution in the world. And the biggest threat to your financial freedom.

And you’ve probably never heard of it.

Over $400 billion flows through it every day. By comparison, that’s more than the annual gross domestic product (GDP) of Iran, Denmark, and South Africa.

It connects over 11,000 banks and financial institutions in over 200 countries… including global central banks like the U.S. Federal Reserve.

The institution I’m talking about is the Society for Worldwide Interbank Financial Telecommunication (SWIFT). It’s the backbone of the global financial system.

This organization impacts everyone. If you’ve ever sent a wire, it was routed through the SWIFT network. And even if you haven’t directly done this, your bank uses the system to handle your payments on the backend.

Here’s why I’m telling you about SWIFT…

Treasury Market Gets Memo with Subject Line: “Higher for Longer” but Someone Scribbled next to it, “Maybe Forever?

“Neutral rate” creeping higher? Oh dearie! Bloodbath at the long end.

By Wolf Richter for WOLF STREET.

The 10-year Treasury yield jumped 14 basis points today to 4.49%, the highest since October 2007. Bond prices fall when yields rise, so this was quite a bloodbath today at the long end of the Treasury market.

“Neutral rate” creeping higher? Oh dearie!

It seems the Treasury market is gradually reading the memo that has been passed around for about a year. The subject line says: “Higher for longer,” and yesterday someone scribbled next to it, “maybe forever?”

Yesterday’s “dot plot” from the Fed underlined a few things in that memo. It indicated shockingly that the policy rates might still be 5.25% at the end of 2024, rather than 4.75% top of range, as it had indicated in June.

And there was discussion about the “neutral rate” creeping higher, which Powell cited as a possible reason why the economy has performed surprisingly well despite higher rates. The neutral rate creeping up and returning to the pre-QE levels of 2007 and before would introduce the “higher for maybe forever?” nuance, where the whole rate framework shifts higher, where rate cuts might not be as deep, and wouldn’t be maintained for long — unlike perma-ZIRP of yore — before getting raised to the neutral level again, which would be much higher than it was over the past 15 years (I posted an explanation and example of the neutral rate into the comments below).

The Energy Stock Reversal Will Continue

By Brett Eversole

The winner that everyone watched in 2022 was the energy sector.

It was the only sector that was up more than 10% last year... And it was up a lot more than that. Energy soared 66% overall.

The uptrend slowed down this year, though. The sector has been down for much of 2023. But now, a reversal is underway.

A specific segment of the energy sector recently rallied for eight straight days. That's a rare setup... It has only happened eight other times since 2006. And it means we should be paying attention, according to history.

That's because rallies tend to continue after this kind of streak happens. In fact, this move could lead to double-digit gains over the next year.

Let me explain...

The energy sector includes all kinds of companies. It's a smorgasbord of the majors like ExxonMobil, oil-services companies, pipeline companies, and more.

Deflation & Barter Economy Coming – Rick Ackerman

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Analyst, financial writer and professional trader Rick Ackerman is forecasting a “deflationary end” to our debt-bloated financial system. Ackerman contends, “I think everybody agrees we have more debt than we can ever repay. So, it’s going to have to be repaid one way or another. The debt has to be discharged. Every penny of every debt has to be paid, if not by the borrower, by the lender. Hyperinflation would let borrowers skip free. . . . The powers that be are not going to go for that. The lenders are going to be in charge.