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News & Articles By Cassie B.
04/08/2024
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By Cassie B.
State Farm announces it won’t renew 72,000 property insurance policies in California to avoid financial collapse due to a wave of claims
California’s biggest home insurance provider, State Farm, has announced that it will be discontinuing coverage for tens of thousands of policies in the state this summer in a move that many are interpreting as a strong sign that the insurance industry suspects something big is about to go down there. On March 20, State Farm […]
04/08/2024
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By Cassie B.
SWIFT’s new central bank digital currency platform could be ready in 1-2 years
The worldwide bank messaging network SWIFT has announced it has a new platform in the works that will help connect the different central bank currencies that are being developed by various nations to its existing financial system. They recently carried out a six-month trial that included 38 central banks, settlement platforms and commercial banks in […]
04/04/2024
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By Cassie B.
Rebuilding Francis Scott Key Bridge could cost $1 billion and take 10 years
The cost of rebuilding the Francis Scott Key Bridge in Baltimore, which collapsed in an accident last week, could be somewhere in the range of $400 million to $1 billion or more, according to reports and the timeline on the project may be a decade or longer. This is more than double the cost and time […]
03/21/2024
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By Cassie B.
Americans boycott Tyson Foods as it announces plans to hire 42,000 illegal migrants
Angry Americans are boycotting Tyson Foods in response to the company’s plans to hire 42,000 immigrants in New York as they close plants in a slew of states and give 1,300 of their current staff their walking papers. The $53 million meat company has announced it will be closing meat and poultry processing plants in […]
03/13/2024
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By Cassie B.
BRICS nations to create independent blockchain-based payment system as part of sweeping dedollarization infrastructure
The BRICS nations are working on an independent payment system that will be based on blockchain technology and digital currencies, according to the Kremlin, marking a decisive shift away from the U.S. dollar. BRICS is a geopolitical bloc that is made up of Brazil, Russia, India, China, South Africa, Iran, Ethiopia, the United Arab Emirates […]
03/12/2024
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By Cassie B.
Financial analyst warns China will overtake American economy and dollar is finished as global reserve currency
The Chinese economy is poised to take over the U.S. economy, according to financial analyst Richard Bove, who also believes the American dollar is on the brink of a devastating collapse. Bove, whose predictions have been accurate in the past, is convinced that other analysts also see the writing on the wall but won’t speak […]
03/10/2024
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By Cassie B.
Dedollarization efforts continue as India pushes Gulf crude exporters to accept payment in rupees
The Reserve Bank of India is asking all of the country’s main state-owned refiners to make a concerted effort to convince Persian Gulf suppliers to accept payments for crude oil in rupees. Their goal is to push them to accept a minimum of 10% of oil payments in the Indian currency during the next financial […]
03/01/2024
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By Cassie B.
LET THEM EAT FLAKES: Kellogg’s CEO under fire for saying Americans should eat cereal for dinner to save money amid inflation
The CEO of Kellogg’s, Gary Pilnick, has come under fire after suggesting Americans save money in the face of rising food prices by eating cereal for dinner. His comments come at a time when Americans are spending the highest percentage of their income on food in decades at 10%, while the average family spends more […]
02/23/2024
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By Cassie B.
German banks preparing for wave of loan defaults in the face of major real estate crisis
German real estate lender Deutsche Pfandbriefbank is preparing for what it says will be the steepest drop in commercial property values seen in the country in 15 years. During the fourth quarter of 2023, the bank raised its provisions for losses on loans, setting aside more than $230 million for the year to prepare for […]
02/21/2024
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By Cassie B.
Worsenining commercial real estate market woes could spark a new banking crisis
Worries are growing that the U.S. commercial real estate market’s current woes could lead to another banking crisis. This year, around $929 billion in outstanding commercial mortgages will mature, the Mortgage Bankers Association reports. This is a staggering amount that equates to 20 percent of the $4.7 trillion outstanding debt overall. But with higher interest […]
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