Peter Schiff: US Economy Headed for an ‘Inflationary Depression’
Love him or hate him, but stock broker and gold proponent Peter Schiff does make a very compelling observation: consumers are paying for huge government via the inflation tax, and the only way to slow down runaway consumer prices is to aggressively hike rates and strongly cut back on fiscal spending. Schiff took to his […]
Understanding Diamonds: The Historical Importance Of Geochemistry
The search for diamonds in Canada can be an arduous journey, particularly with the harsh conditions that come with exploration in Canada’s far north. Geologists must first know where to look – i.e. they need to know what would suggest the presence of diamonds. Diamonds are often found within kimberlites, which tend to resemble cylindrical […]
Calgary To Edmonton In Under 20 Minutes? TransPod Breaks Ground For Canada’s First-Ever Hyperloop Transport
Canadians could soon experience the latest in ground mobility: a ultra-speed train faster than a jet. Transportation startup TransPod unveiled a small-scaled version of Canada’s first-ever hyperloop–a transport system that installs passenger-carrying pods inside sealed, low-pressure tubes to achieve higher speeds. The company is calling its version the FluxJet, promising to carry 54 passengers per […]
Top Tech Giants May Have Bought Gold From Illegal Miners In Brazil
Gold, like silver and copper, is widely used in the manufacturing of consumer electronics, and so it’s normal to see tech companies listing purchases of the precious metal in their SEC filings. On Monday, news broke that four of the world’s largest tech companies, namely Apple, Google, Microsoft, and Amazon, may have indirectly bought gold […]
Rivian Lays Off 6% Of Its Workforce, Focus Remains On Production Guidance
On July 26, the start-up electric vehicle (EV) maker Rivian Automotive, Inc. (NASDAQ: RIVN) laid off about 6% of its total workforce of 14,000, equivalent to around 800 workers. In an email to employees, Rivian’s CEO R.J. Scaring cited rapid changes to the world economy that necessitate actions to “support our sustainable growth as we ramp toward profitability,” […]
Credit Suisse Announces New Group CEO After Disappointing Q2 Performance
Credit Suisse Group AG (SWX: CSGN) announced on Wednesday that Thomas Gottstein will be stepping down as Group Chief Executive Officer. The firm also said that it would launch a comprehensive strategic review, a mere nine months after the last one. Gottstein was named Group CEO in February 2020. His tenure was a short and […]
Lukas Lundin, Swedish-Canadian Mining Magnate, Passes Away
Lukas Henrik Lundin, founder and former chairman of Lundin Mining Corporation (TSX: LUN), has passed away after a two-year battle with brain cancer on Tuesday, July 26. He was 64 years old. Lundin was an industry giant. He started his career in the international energy and mining sectors in the early 1980s. In the mid-1990s, […]
Nancy Pelosi Embarks on Asia Tour, But Not Welcome in Taiwan
House Speaker Nancy Pelosi is scheduled to embark on a trip to Asia on Friday, which includes visits in Singapore, Indonesia and Japan, as well as a potential stop in highly controversial Taiwan. It currently remains unknown whether Pelosi will make a visit to the self-governing nation, as official itinerary fails to include the region […]
Rising Eurozone Inflation “Isn’t Expected To Peak” Until 9.6% In September: Analysts
The record-breaking trend of Eurozone inflation isn’t expected to end soon until its expected peak in September 2022, estimated to land at 9.6%. According to Morgan Stanley analysts, the rise in inflation among European nations is expected to peak towards the latter part of third quarter, “with clear signs that the initial energy price shock […]
The Manchin Surprise: US Senator Now Supports Biden’s “Inflation Reduction” Tax Agenda
It has been called by many names but US President Joe Biden’s attempt to enact his economic agenda into an executive action has been facing intense scrutiny and resistance–with many believing it wouldn’t reach his desk for signature. But the initiative has seen a new light after its former critic has now turned around to […]