Today’s show focuses on two ‘wars’, one military and one economic. Dr. Rasmus discusses the Fed’s latest 75 bps interest rate hike and its consequences, both for inflation, recession, and global currency markets’ instability.  Fed chair, Powell’s, 3 justifications for raising rates are discussed. Rasmus explains Fed rate hikes address Demand side inflation, but not global supply chains or supply problems due to war and sanctions or general corporate price gouging by monopolistic US corps.  Why latest US CPI numbers show a troubling deepening and worsening inflation picture. How Fed rate hikes cause the US dollar appreciation which, in turn, devalues other currencies, including Euro, Pound, Yen and Yuan. How the $ rise in effect exports US inflation and recession to other countries. Second half of show discusses the juncture the Ukraine war has now reached, why Russia’s SMO strategy had failed, and what the announcement by Putin to hold referenda in the four provinces and to mobilize 300,000 more Russian reserves forces for the war means for further escalation of the conflict. The US/NATO war strategy as a ‘Brezinski 2.0’ strategy.