Hadda LOL at these, and who can blame Luongo for taking a lap at this point?
The Pivot-Pivot-Pivot drumbeat continues. Bank of England has pivoted, but remember what Luongo says about SOFR—The Fed decoupled, took control of US monetary policy. I’ve seen cries of concern for “our allies”, but … what have they done for me lately? The Fed is pushing “the world” into recession. Hmmmm. Is that a good thing? Gives the ruling class something to think about instead of dreams of subjugating Russia. Restless homies.
Now, this is an interesting one, because Luongo has been pointing out forever that Blackrock doesn’t actually own that much—they have leverage. And they use the leverage to push ESG on corporations. Just a week or two ago Jamie Dimon and others were hauled before a House committee and one of the Squad demanded to know if Dimon was going to do anything for ESG. His answer: Absolutely not! Direct quote. So Luongo is having some fun at the expense of Blackrock’s Larry Fink. If Dimon is backing Powell, who thinks Dimon and The Fed give a rat’s ass about any pain Fink and Blackrock are feeling?
Again. None of the above is to suggest that Dimon or The Fed are white hats. But sometimes the enemy of my enemy is my current best friend. We shall see. I know nothing—except that there are wheels within wheels.
I await the return of circulating silver US coin, gold coins were long gone well before I was born 59 years 11 months ago. Phony currency, stacked deck of marked cards . . . I'm not playing that game by choice.
https://www.armstrongeconomics.com/markets-by-sector/interest-rates/central-bank-qe/
As Mulder would say, I want to believe, and I generally think Luongo is close if not spot on with his hypotheses on the Fed/Davos, however I can't help but wonder what the Fed is doing with pilot programs focused on ESG? What's their charter again???
https://dossier.substack.com/p/federal-reserve-announces-major-pilot
“Six of the nation's largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks. Scenario analysis—in which the resilience of financial institutions is assessed under different hypothetical climate scenarios—is an emerging tool to assess climate-related financial risks, and there will be no capital or supervisory implications from the pilot."
So what side of the coin are these guys on?