The show begins with an analysis of the past week of the death of Wagner mercenary forces leader, Prigozhin. The show then moves to the main topic: the forces driving the Fed to continue to raise interest rates; for certain this September but possibly even after. At minimum, US rates will remain high for some time. Chronic high services inflation plus emerging new forces globally that keep pressure on chronic inflation and Fed need to raise rates. Rasmus adds that record Fed Treasury sales will add to that pressure and rate hikes, as the Fed needs to sell ever more Treasuries in order to cover US budget deficits. And add still further the rise of the BRICS and declining demand for US dollars