Luongo

I’ve been listening to another Tom Luongo interview, and I’ve done a transcript for the 28-47 minute range of a 137 minute interview. Overall there’s a fair amount of overlap with his other interviews and articles. However, this segment is very timely, what with a coup going on in the UK, because Luongo spends quite a bit of time discussing the background to the coup in the ginned up financial crisis. I think readers will be fascinated by his ideas in that regard.

He then gets into the link of the Covid Hoax to the plan for the Great Reset—resetting the entire world to Global Technocratic Communism. As I understand Luongo’s Theory Of Everything, the Davos plan was to break the world economy and then advance themselves as the technocratic saviors to free the world from bankers—just one bank, that would issue digital money, and control it. To do this, they need to destroy the United States in every sense: economically, financially, politically, culturally. Thus, the first target would be the US, with the help of the Davos/Prog 5th column. The Fed refused to go along.

These considerations may explain Jamie Dimon’s insistence that Trump is not the way forward. Luongo maintains that the Fed fought “tooth and nail” against the wild Covid spending, that Trump went along with. In essence, that means that Trump—probably unwittingly—was furthering the Davos agenda. Presumably there was communication on all this between the Fed—fronting for the big banks—and the Trump White House, and the Fed lost out.

Note also the references to the prefential treatment that Blackrock received as a result of Trump’s Covid “relief” measures. Compare that to Dimon’s attacks on the ESG agenda that Blackrock foisted on corporate America.

See what you think:

Timing of financial crisis

Q: Was the global financial crisis timed to usher in the Great Reset--including social controls.

The issue is confusing because, in order for the Fed to beat Davos, the Fed has to engender a financial crisis that will look like the one that people think Davos was trying to institute on their own. It's like the people who argue that 'Putin gave Davos the war they wanted, by invading Ukraine, THEREFORE Putin must be a WEF shill because he gave them the war they clearly wanted.' So they can have a war to cover their insolvency and the collapse of the Western financial system.

But Davos NEVER wanted these things to happen in these terms. [I.e., not in the way they have actually played out.] They always wanted to have it on their own timing, in their way, with their parameters. The way they wanted it was that Europe would collapse LAST. Not FIRST. The Fed raising interest rates the way they are leaves the EU and old European money center banks really vulnerable. REALLY vulnerable. Whereas American banks--and you can argue with me all you want, about how American banks are vulnerable. Yeah, they are vulnerable. But so what? They have the Fed, who can make infinite amounts of elastic money. The ECB doesn't have that ability. They're not the same institutions--AT ALL. People need to wrap their heads around this. It ain't just one big club. If you're sitting there and you're Jamie Dimon, you're head of JPMorgan Chase, one of the major shareholders of the New York Fed, and these Euro trash frickin' Commies and old colonialists who your dad fought, who JPMorgan himself fought 120 years ago to have a banking system independent from the UK, it doesn't make any sense. We've been trying to fight our way out from under the British Crown and the old European colonial powers since the day Cornwallis surrendered at Yorktown. I mean, Hamilton was working for the Crown!

When you really start thinking about it this way, the Fed has the ability to engender a crash in a sovereign bond crisis ... because, remember, what we saw the other day in Britain with a pension crisis caused by a run on UK gilts ... there was a run on UK sovereign debt at a time when the pension funds were weak because they were already down 30% in the equity markets, they were down 30% in their bond holdings, they were already down 10, 15, 25% in the pound itself--the pounds down from $1.42 to $1.14 because of the run on the pound a few weeks ago. All those British pension funds were looking at massive margin calls, massive collateral calls. They were either going to have to get rid of these investments--which were upside down on them--or they've got to somehow call up collateral from the companies whose pensions they manage.

Well, who was not willing to post collateral for these leveraged debt instrument investments? The one who issued them: Blackrock. Who’s Blackrock working for? Davos. The BoE comes in and gives them a lifeline for a couple of weeks, scaring the market, and then all of a sudden says, 'Nope, you've got until Friday.' That was a coup attempt! The BoE executed a coup attempt against the Truss government, using the cover of the announcement of Truss' budget and tax scheme as the means by which to run an economic hit-man operation on the British pound and the UK gilt market. And guess who that was a warning to? The Italians.

When Meloni's government comes in and tries to do the same thing [as Truss], try to put a fiscal plan together to save Italy, whaddaya think they're gonna do to her? They're gonna run the same operation. They're gonna try to split the coalition right when it gets formed and then turn around and say, 'No, she's not acceptable, she doesn't know what she's doing.' Then you get backstabbing within the coalition, Forza Italia maybe turns on her, and then what'll happen? [Sergio] Mattarella and the Roman political Mafia will turn around and say, 'We're gonna give you another technocratic government a la Mario Draghi, Mario Monti, Renzi, and everyone else so that Italy does not have an elected government. Cuz they haven't really had one since 2011. And nothing will change. They'll threaten them through the bond markets. Now, Melloni, if she's smart, will just [slow the roll?].

That maps with all the facts I've laid out. Truss wanted energy security for Britain--open up exploration for oil and gas, do away with the fracking ban, turn Britain into an energy exporting powerhouse over the course of the next ten years, lower taxes and regulations to get the British economy unstuck--because of all the latent ties to the EU that still need to be worked out post Brexit. That was the plan. It was a perfectly good plan. She was working with massively high energy prices so, of course, we're gonna hafta spend some money that we don't have by subsidizing electricity bills for maybe a year or two. It's gonna be bad for the budget, but we can through this. It's not like they're Venezuela--they're the UK. They timed it for the tax break announcement and then ran the operation. I don't know how it was done, but somebody obviously ran the stops on the UK gilt market somewhere, and it wasn't hard to do at that point. And then they just write bogus headlines for the algorithms to react to. Which they did.

It's a big game of chicken. Danielle DiMartino Booth--the interview she gave with Keith McCullough the other day--it was like she was literally telling me, 'You're right, but you missed this, this, and this. So learn about these things: leveraged long debt, the Fed is not fighting inflation by raising interest rates, because they're Treasury portfolio is in TIPS [Treasury Inflation Protected Securities]. And guess what happens when inflation goes up? TIPS go up in value. ... Booth used the words: ‘The Fed is not fighting inflation with rate hikes,’ which is exactly what I've been saying. Keith McCullough followed up by saying, 'Well, then, what ARE they doing?' She's like: 'I can't tell you that.' Clearly what she wanted to say was: 'They're trying to destroy the Eurodollar market, they're breaking the offshore credit markets--not the domestic credit markets. Offshore credit markets. They're trying to break the Hong Kong peg, if you're a Neocon. They're trying to break Europe, if you're a libertarian. Europe is The More Perfect Communist Union.

Q: Is the Fed the good guy for freedom in this case?

They're the good guy in that their incentives are existential to fight Davos. They're the better choice NOW. But they're still acting in their own best interests. They're not acting in OUR interests. Maybe, it's very possible that they're looking at this going, 'Well, y'know, WE can't continue to run OUR grift if the people don't have access to our banks.' Klaus von Kommieschnitzel, he wants to do away with all that and just give it to the Fed. ...

...

Jamie Dimon has been posturing anti-Davos for three years now. It was his bank, JPMorgan Chase, in 2019, that refused to take Eurozone debt as collateral for repos. He was the first one to deny them dollars. So the Fed had to. The repo market blew up in 2007, and the Fed had to step in, but it didn't really fix anything.

"They" just launched Covid to take everybody out. Covid is a big financial psy-op. I'm not saying that the virus wasn't real or that a lot of people didn't die--it was that, too! But at this point I'm firmly convinced that the true purpose of Covid was to drive a wedge between Trump and Powell, get the Cares Act passed, and force the Fed to monetize a whole lotta debt that they didn't want to monetize. Powell was not consulted about any of this. He fought against the Cares Act and all that stuff tooth and nail. He had to go along with it anyway because he didn't have any options, cuz Congress spent the money. The Cares Act gave Blackrock access to the Fed Funds window to go start buying up residential real estate all over the United States and crowding out private buyers. And they got access to the Plunge Protection Team.

That all happened, and they can get rid of Trump, and what happened? That was Davos' dream, and guess who didn't print money--not until the middle of 2021? The European Union. The Fed printed 6, 7 trillion dollars. Europe didn't. I remember having Peter [?] on my podcast, and I was trying to bring these ideas up to him. And he dismissed them all. He just said, well, 'We just printed trillions of dollars and they didn't, so whose balance sheet is in better shape? Theirs. So there's no way the Euro is gonna collapse, there's no way that'll happen.' He literally said to me, 'I don't think Jay Powell gets up in the morning and gives one damn about Europe.' I said, 'I think you're wrong.' It was not a fun conversation. It was one of the few times I had to hold my tongue against a guest. I turned out to be right.

What Powell did was, he waited until June of 2021, when the European Union was ready to start printing money and to make the big pitch for, 'We're gonna set global monetary policy and coordinate it for climate change.' And Powell stood up and said 'No' two weeks before he raised the reverse repo rate 5bps above the Fed Funds rate and ended the bull market in the Euro. Those two things are correlated in time, right around June 16. The Fed meeting happened the same day Biden was in Geneva meeting with Putin to stave off WW3 then. The Euro collapsed 3 cents that Thursday and Friday--the Fed made their announcement on Wednesday, Zerohedge ran an article: Big nothing burger of a meeting, except they raised this one technical little rate. And then the Euro collapsed 3 percent. And then the reverse repo facility started blowing out, and then everyday there was another headline: Reverse repo rolling balance $700 billion, $900 billion, and the a trillion dollars, OMG, now its $1.5 trillion! Blah, blah, blah! Now it's $2.3 trillion. Don't you think that that's liquidity that the Fed can dump into the market at a moment's notice? The banks need dollars? They can give treasuries back to the [Fed].

See, the reason they had to do that is because during Covid the savings rate in the United States was at 30%. Normally it hovers between 5-7%. If it ever gets above 7% the Fed likes to engage in QE. I have a 12 year chart of when QE starts and stops. It correlates with the savings rate. Too much savings is bad. We need to get that money flowing.

It plays out that the Fed has much more room to raise rates than anyone ever thought. And the Fed will use it’s flexibility to break Davos and its plans for global technocratic Communism.