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January 8: World running out of Sand, NFT scams, Largest Crypto Bank Bank? (Recap Ep209)

In this week’s recap, US & global markets ended mostly higher. High inflation has been a feature of the economy for about the last year. But how has inflation actually impacted the prices of everyday goods? We show you in a list of selected goods how everything has been impacted by inflation.

The world is short of everything: corn, coffee, wheat, soybeans, plastic cardboard, semiconductor chips, appropriately skilled workers, and so on. Now, the time has come to add sand, the most extracted solid material in existence, to this ever-growing and eclectic list. The importance of sand cannot be overemphasized. Water is the world’s most consumed natural resource; sand is the second. China has sent sand pirates to secure the supply. Both desert and sea sand are totally useless for construction.

Sam Bankman-Fried, pleads not guilty to all criminal charges in federal court. The billionaire pleaded not guilty to 8 charges ranging from wire fraud to conspiracy to prosecute money laundering before federal judge Lewis Kaplan in NYC. A trial date has reportedly been set for October 2.

If you own your home, eat full meals and drink clean water, have a smartphone, can surf the Internet, and have gone to college, you are in the tiny privileged lot (in the less than 7% category). Under current conditions, out of every 100 people, only 8 can live to be 65 or older.

California snowpack highest in 40 years; last week of 2022 mortgage applications fell 42% year-on-year; Croatia, with almost 4 million inhabitants, is the 20th country to adopt the euro; Missouri bill would treat gold and silver as money; IMF Managing Director global economy faces a tough year, expects 1/3 world economy in recession; Salesforce plans to lay off 10% of the workforce, or near 8K employees; Chinese officials are discussing plans to resume some imports of Australian coal; Qualcomm Tech unveiled processor chip for a car called Snapdragon Ride Flex SoC; Mexican security forces captured drug cartel boss Ovidio Guzman.

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