As we’ve been railing on about for too long now, the Federal Reserve is NOT serving the interests and welfare of the general public.
Instead it serves the top 1%. Or more accurately, the top 0.1% – i.e., the people who actually own the vast majority of financial assets, corporations and real estate.
Right now, the Fed is pouring gasoline on the “wealth gap”; the tremendous divide in social inequity it has largely been responsible for creating. And yet its Chairman, Jerome Powell, flat out refuses to acknowledge this.
The very valid grievances of many dispossessed and disempowered groups can be laid at the feet of the Fed.
Minorities starting at diminished employment prospects? Seniors unable to live off of their life savings in a world of 0% interest rates?
The Fed is either directly or indirectly responsible.
It’s way past time for society to realize the truth and stop believing the Fed’s pitch that it’s the hero riding to the rescue in this story. It’s not.
It’s the villain who created the injustices we’re sick of. And it’s “rescue” efforts are simply a trojan horse for using an economic crisis of its own making to enrich its stakeholders further.
The tribe is suiting up! We’ve seen tremendous response now that our RESILIENCE shirt production partner is finally back in action.
The Feds machinations have been at play for a very long time, ever expanding the wealth inequality gap, but I believe the party is over. These low interest targets are effective when confidence is high and in certain economic environments, but these demand side tools cannot solve the problem of a massive contraction in credit, GDP, and high unemployment.
Tides shall soon turn. Fiscal stimulus has a cost, and that cost will be higher income taxes, and much higher yields on government bonds to fund the shorter term gaps. Interest rates will follow, and market prices will correct to the point that dividend yields in high risk environments will have to be significantly higher than their risk free counterparts.
The only thing that currently allows the Feds actions to affect credit markets is blind confidence. Soon, it will be clear how ineffective they can be to even suspicious ends.
Any attempt at higher taxes is a spoonful out of the ocean. A BK is a BK, and the Fed/Treasury complex declared bankruptcy together in March. The size of a BK is irrelevant, isn’t it?, and so it’s not deckchairs on the Titanic, it’s lifeboats pitching back and forth as we push our way and try to board. Over Niagara in a rowboat or a yacht, no matter. Musical chairs, with most of the chairs swept away in a week or two.
What they did was to leave us in a state of shock, and trying to analyze the new situation with our old mental models of how an economy works. We feel calm, until the next cascade, because it’s exhausting to stay on constant alert. Swifter players than you or I have aligned themselves for the event, and they have their timing so much more on cue than I ever will. This is why we prepare far in advance, and have to ignore the wiggles.
Rickards has been telling Fed people they’re insolvent on a mark-to-market, and if they weren’t before, they sure are now. If a balance sheet is assets vs. liabilities, and the value of the “assets” you already hold depends upon you buying even more of them to keep the price up, then that’s volatility-in-waiting, and all on the downside. And you had to do $3 trillion to do it? Get out of their way!
Watch DeNiro play Bernie Madoff. Hopefully, Bernie will be having new neighbors soon, but don’t hold your breath.
Richard Pryor and Robin Williams on racism https://www.youtube.com/watch?v=bE1f4awlxVc
Dr. Seheult – he mentioned HCQ, zinc early on, YT has not been feeding his vids to me since late Feb. Is there a suppression of the coherent doctors, Chris? https://www.youtube.com/watch?v=CYEbLtaAO_g
After Armageddon – 2010 docudrama on History Channel about a pandemic, 15 minutes in so far, just seems like recent news. https://www.youtube.com/watch?v=OtP80Z08lfg
Chart from article by Netherlands-based Rabobank using data from its own research, plus Macrobond, and the IMF.
(Rabobank is a macro economics analysis and forecasting company based in Netherlands, with a focus on Netherlands, U.S., and macro world economics.)
(Macrobond is the world’s most complete collection of macroeconomic data, with more than 170 million time series from over 2000 global sources, available for query and research by institutions interested in macro analysis.)
Again, trying to correct the disinformation that Chris sometimes puts out with throw-away remarks, New Zealand has never required or recommended the used of face masks. Never.
That chart with the demographic breakdown of wealth, which Chris showed, also shows Asians having the biggest portion of the pie, more so than Whites. Any reason for not commenting on that, Chris?
Klaatu, great post with that film. It closely follows the State Department Report to Congress some 18 years ago on the subject of food and water in a grid down scenario. Discovered that intel on PP! Chris did an interview with the survivorlibrary.com guy, who was motivated to set up his website after reading the State Department Report.
He has collected books on 18th and 19th century technologies - everything even medical books and put them on the site in pdf format - free for the printing.
In the recent survey, I asked to have him back on.
I haven’t watched the whole video yet. I stopped when Chris quoted about the woman who got covid-19 twice.
From video, first 2:30-3 minutes.
“NBC 5 states that McKee was first tested in February in Dallas. This is a Red Flag, a’s testing started in March in Dallas. See link: https://www.msn.com/en-us/news/us/timeline-tracking-the-spread-of-covid-19-in-texas/ar-BB11qbpf.
so, what IS the truth here?
Was she really tested in February?
if so, By whom?
Is this more NBC MSM leading the sheep down the wrong path?
What’s happened to the numbers from Sweden, the last couple of days? Daily cases have been all over the place in recent weeks but there has been no update for the last couple of days, following a 1.5k daily increase. It’s inconceivable that there have been no new cases or deaths there for a couple of days.
Chris missed a perfect opportunity to link the Fed and George Floyd.
The police were called because he allegedly tried to buy cigarettes with forged currency. So many ways to play this! Only the Fed is allowed to “create money” of course that’s worthy of the death penalty.
And if you avoid the store and try to sell loose cigarettes? Oh right, that’s what got Eric Garner put in a choke hold too.
This kind of content does not belong on this site and is not appreciated at all. If you insist on posting sexist crap like this, which says a lot about who you are as a person, please take your crap & post at Zerohedge, where you will find many like minded, small minded idiots who share your obvious obtuseness and ignorance.
Nairobi, your comment and the original post by Dontknownothin are outright offensive and speak to a larger concern within the PP community. Both posts make me want to puke.
And we wonder why the world is going to hell in a handbasket… what rock did you crawl out from under?!? If you subscribe to that theory then you are a Neanderthal from the dark ages.
I can only surmise you are a man… The rationale ‘boys will be boys’ has not cut it for a long, long time. You obviously did not get the memo… Nor did your dad, who obviously did not do a good job of raising you to be respectful towards women. I won’t waste any more effort trying to educate disrespectful people like you who do not have the maturity to ‘get it’.
Gentlemen of PP: today is Father’s Day. In light of the comment that I and other women find to be offensive, I would encourage all of you who are dad’s to reflect on this subject, and how you play a crucial role in helping to shape belief systems & respectful behaviours in your kids, especially your sons. Further, I would ask you to reflect on whether or not you and by extension the other males in your circles, are true allies in cultivating respect for women, and what that looks like in actual practice. If you do consider yourself to be a ally to women, then you will stand with me on this issue and not accept the lame excuse that boys will be boys.
It is up to all of us, men and women alike, to not be bystanders in our lives to any kind of sexist, misogynistic, demeaning, racist or hate related speech, comments and behaviours. When we stay silent we are complicit, and inadvertently or not, in not speaking up we signal that we are condoning the speech or behaviour in question.
We talk about taking action to make this world a better place. Well there is one simple action we can take that does not cost a thing. We can each refuse to be bystanders and instead be allies who speak up when we witness transgressions, and do our best to educate & create awareness. We can refuse to accept archaic attitudes and stop the cycle of men growing up thinking things like this are okay because boys will be boys. It is so not okay.
Who is in? Who will pledge, silently, to yourself, or out loud to others, via comments or not, to being an ally? Who is willing to say I will not be a bystander anymore?
Jan
…and its cost me dearly at times–but not at the expense of my integrity.
I was thinking as you, how sadly ironic that these two “sexist, misogynistic and demeaning” posts would appear on Father’s Day.
