Last week's substantial financial market selloffs continued as the fiat Federal Reserve raised its Federal Funds Target Rate again by 75 basis points. While we continue to read headlines about raising rates by central banks led by the fiat Federal Reserve, the bigger story constant here is the speed at which they are moving to raise interest rates.

In 2022, relative continued strengthening by the still world's dominant fiat currency has produced massive selloffs in most commodities and precious metals and unprecedented losses in the world's largest financial asset classes like stocks and bonds.

The fiat US dollar index had another massive jump this week on the rate rise, climbing above parity versus the fiat euro to close this week, nearing a 20-year high relatively in that fiat currency pairing.