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Assange Freed, Walmart Introduces Dynamic Pricing (for Inflation?)

Luke Groman discusses US Treasury Gold Bonds, the impact of presidential outcomes, and BRICS’ new monetary system, while Walmart plans electronic shelf labels, and Julian Assange reaches a plea deal with the U.S. Justice Department.

The User's Profile Ivor June 25, 2024
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Economic and geopolitical discussions have taken center stage, with Luke Groman addressing a range of topics from US Treasury Gold Bonds to the impact of presidential outcomes. Groman supports Judy Shelton’s proposal for US Treasury Gold Bonds, suggesting it would necessitate a higher dollar price of gold, effectively devaluing the dollar and making long-term bonds more attractive. He also believes that the outcome of the US presidential election will not significantly alter the broader fiscal dominance strategy, despite potential policy differences. Groman concurs with Michael Howell that the stock market is more influenced by inflation than the risk-free rate, noting the movement of global bond market funds into equities, gold, and Bitcoin as a response to inflation.

In the realm of international finance, Groman doubts the IMF or US can prevent BRICS from developing a new monetary system, especially with Russia’s involvement. He outlines potential Western strategies but emphasizes the critical role of energy markets. On the domestic front, Groman predicts that rising unemployment would lead to increased Treasury issuance and a stronger dollar, resulting in higher gold prices and lower asset prices until more dollar liquidity is supplied. He also highlights the excitement around infrastructure spending but notes that bond markets still expect the Fed to maintain positive real bond rates.

In the retail sector, Walmart has announced the implementation of electronic shelf labels in 2,300 stores by 2026. These labels allow for remote price changes, which can be adjusted as frequently as every ten seconds. This technology aims to increase productivity and reduce labor costs, a significant advantage as higher wages make labor more expensive. The labels also offer additional product information through barcodes, enhancing the shopping experience. This move aligns with trends seen in other major grocers and European stores, where electronic shelf labels are already common.

Goldman trader John Flood has warned that the upcoming US presidential election could significantly impact the USD and the performance of domestic versus internationally-exposed firms. Prediction markets currently show slightly higher odds for a Trump presidency, with a Republican sweep being more likely than a Democratic one. Goldman economists predict that a Trump victory would strengthen the dollar due to potential tariff policies, which could increase inflation and create headwinds for stocks with high international revenue exposure, particularly in the tech sector.

In legal news, Julian Assange, the founder of WikiLeaks, has been freed after reaching a plea deal with the U.S. Justice Department. Assange had been imprisoned in the UK’s Belmarsh prison for five years following seven years of asylum in the Ecuadorian Embassy. The plea deal documents were filed in the U.S. District Court for the Northern Mariana Islands, and under the deal, Assange will be sentenced to 62 months in prison, with credit for time served, allowing him to return to Australia.

The Federal Reserve has shown other US regulators a document of possible changes to their bank-capital overhaul that would significantly lighten the load on Wall Street lenders. The revisions would walk back key parts of the landmark proposal, particularly those affecting big banks with sizable trading businesses.

In voter registration news, welfare offices and DMVs in 49 states are distributing voter registration forms to migrants without requiring proof of citizenship, with Arizona being the only exception. This practice, mandated by the National Voter Registration Act of 1993, has led to concerns among Republicans and conservatives who are calling for federal action to stop it. Critics argue that the current administration’s policies may be encouraging illegal voting in the upcoming 2024 election.

RFK Jr. plans to host his own debate after being snubbed by CNN. This move comes as he seeks to present his views independently, highlighting the ongoing discourse around media representation and political debates.

A recent preprint study using CDC data reveals a troubling rise in deaths from neurological diseases among young adults aged 15-44 in the U.S. The study, conducted by Carlos Alegria and Yuri Nunes, shows a significant increase in mortality rates from neurological conditions, particularly after the onset of the COVID-19 pandemic. The findings raise concerns about the readiness of the U.S. healthcare system to address the growing neurological health needs and suggest a need for focused research and public health strategies to enhance neurological health services and preventive care.

Sources

Luke Gromen Discusses Gold Bonds, Fiscal Dominance, and Geopolitical Risks in Latest Q&A

Ultimately, given the debt levels, it would require in all likelihood a much higher dollar price of gold, and so it would amount to a dollar devaluation of sorts.

Source | Submitted by rhollenb

Google Whistleblower Warns of Impending “Clown World” Campaign Against Books

Soon, you will see a silent undertaking to destroy the last decentralized form of offline knowledge: Books.

Source | Submitted by Redneck Engineer

Walmart to Roll Out Remote-Controlled Electronic Shelf Labels in 2,300 Stores by 2026

“The new labels allow employees to change prices as often as every ten seconds.”

Source | Submitted by Shplad

Goldman Warns: Trump Victory Could Burst the AI/Tech Bubble

“Goldman trader John Flood warns in a weekend note, the results of the upcoming US presidential election could have a substantial impact on the USD and the relative performance of domestic-facing vs. internationally-exposed firms.”

Source | Submitted by Barbara

Julian Assange Freed After Plea Deal with U.S. Justice Department

WikiLeaks founder Julian Assange has been freed after reaching a plea deal with the United States Justice Department.

Source | Submitted by pnwdefector

Federal Reserve Proposes Softer Bank-Capital Rules, Easing Burden on Wall Street

The Federal Reserve has shown other US regulators a three-page document of possible changes to their bank-capital overhaul that would significantly lighten the load on Wall Street lenders, according to people familiar with the matter.

Source | Submitted by Shplad

49 States Hand Out Voter Registration Forms Without Citizenship Proof, Sparking Controversy

Welfare offices and other agencies in 49 US states are providing voter registration forms to migrants without requiring proof of citizenship, leading Republicans and conservatives to call for swift federal action to stop the handouts.

Source | Submitted by AaronMcKeon

RFK Jr. Organizes Independent Debate Following CNN Rejection

RFK Jr To Host His Own Debate After CNN Snub

Source | Submitted by AaronMcKeon

Surge in Neurological Disease Deaths Among Young Adults Sparks Public Health Alarm

“The results show a clear break from the prior historical trend in death rates from neurological diseases.”

Source | Submitted by PhilH

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