Why does a guy who looks like the cigarette smoking man from The X Files, radically altering bank regulations? Why is silver getting smashed today? It's probably Japan's fault.

Money supply is surprisingly down - again - for June despite reverse repos pouring into the banking system, a surprising development possibly related to the tightening of banking regulations by the X Files guy. And did you know that only about 12% of consumer debt is subject to rising interest rates? That means the pressure of rising rates is hitting banks almost exclusively.

Video Length: 00:14:45

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