One consequence of Joe’s war on Russia.
by Ben Garrison
“King Dollar, His Reign Is Over“
The ‘BRICS’ countries, (Brazil, Russia, India, China, and South Africa) are rejecting the dollar. Many other countries are eager to join them. Selling their dollars and sending them back means increased inflation in the USA—and inflation is already out of control. Anyone who goes food shopping already knows that. It will get worse. The Federal Reserve will be forced to raise interest rates even higher to counter inflation, but that will mean more failed banks. Too many banks are leveraged with commercial real estate, which is already struggling mightily. Higher rates means loan failures and bank closures.
Higher rates will be terrible for the economy in general—nobody will be able to afford to buy a house or car. Those markets will collapse.