BITCOIN

Russia’s President Vladimir Putin has warned of increased “risks of a new global economic and financial crisis against the backdrop of an uncontrolled debt accumulation by developed countries.” He added that Russia is “being subjected to a hybrid war, with illegitimate anti-Russian sanctions that are unprecedented in scale.” Putin on Financial Crisis and War Russia’s President Vladimir Putin spoke about various issues at the virtual summit of the Shanghai Cooperation Organisation (SCO) Heads of State Council on Tuesday. The meeting was also attended by Chinese President Xi Jinping. Besides pushing for increased use of national currencies in trade settlements, Putin stated that the SCO ”is strongly committed to creating a truly just and multipolar world order — an order based on international law and common principles of mutually respectful cooperation between sovereign states.” He added: This is especially important today, when geopolitical discord grows bigger, the degradation

Economist Peter Schiff has warned that the Federal Reserve has lost and inflation is about to get worse. “The markets just haven’t figured that out yet,” he cautioned, emphasizing that “We continue to get a lot of weak economic data.” ‘The Fed Has Lost’ Economist and gold bug Peter Schiff issued more warnings about the U.S. economy in a podcast Sunday. Commenting on the Nasdaq, the S&P 500, and the Dow Jones rallying in June even though the Federal Reserve has not started cutting interest rates and has indicated that it is going to hike some more, he opined: I think it’s because the markets don’t really believe the Fed. They know the Fed is likely near the end or done hiking, and so that is the relief rally. Emphasizing that these are all bear market rallies, Schiff warned that “The markets are missing a key point — inflation is going to get worse.” The gold bug stressed: The Fed hasn’t won. The Fed has lost. The markets just haven’t figured that out yet. Schiff further