I changed the title of the Youtube that I’ll be summarizing, and I think the text of the summary will tell you why. While “Wall St.” definitely turns up in Luongo’s presentation (there’s give and take but, again, you’ll see the why for my choice of words), the focus is on the Fed. And I think the reason is that the Fed is presenting a more organized and unified policy program than you could get from an amorphous “Wall St.” Thus far, since the banking crisis began with the closure of Silicon Valley Bank (SVB) last Friday, Luongo has yet to present a more or less full length narrative—although the shape of that narrative has been clear enough for those who have followed his commentary as well as from his recent tweets. That changed today with his appearance in
About a week ago both Houses of Congress sent a bill to Biden demanding the release of all Federal Covid information etc. IIRC Biden threatened to veto but Congress would have the votes to overturn the veto.
The bill remains unsigned and the media silent. Is the WH scurrying around buying Dem votes not to overturn a Presidential veto?
Seems there are a lot of very noisy distractions all of a sudden. Bank failures, the Reaper drone, and the push for Ukraine to have a victory etc. Coincidence or just life in America these days?
Mark, on Soros at the center of Davos money, take a moment to read some of Richard Poe's articles https://richardpoe.substack.com/ He contends Soros is (as Rothschild's were) a front man for City of London, Royal Family.
I eagerly await the 5.00% savings rates, the local Ford dealer having to sell that new Bronco I have been eyeing for 10% below MSRP ! We'll know for certain that Powell has succeeded when the F-35 & B-21 programs are cancelled, no more obsolete aircraft carriers are built and most of the existing fleet is mothballed. Senators/Warmongers will wail and gnash teeth, and I shall rejoice at hearing the lamentations of their women, especially Ms. Lindsey.
Years ago I remember reading that Soros would be put in jail if he set foot in France because of the damage he had done to the French franc or economy. There are players on the world stage who couldn't care less about the damage they are causing. There are others who do not understand the effect of what they are doing. Then there are those who simply kick the can down the road and are only concerned with their immediate goals. I assume Powell is conscious of the danger to the world economic system we now face and doesn't want it to crash on his watch. In addition to this the big banks have skin in the game and stand to lose big if the American economy blows up. They are the adults in the room. Our politicians have created this problem they have no understanding of and in any case will not deal with. Reality trumps everything.
The Biden Administration seems to have been deliberately pushing inflation, probably with the goal of inflating away the deficit, so they can continue spending without care.
Tom is wrong when he says: "So Powell backstopping [regional banks] at par now allows them to start offering savings rates that are above the zero bound. Oh! Does that change the dynamic in the US banking system?"
Janet Yellen recently testified in Congress that the backstopping of uninsured deposits will be decided on a case by case basis. There is no blanket guarantee. Consequently, large deposits are still fleeing from regional banks to the usual winners - the Big Banks...Powell's buddies.
There is something very rotten and nefarious going on here that doesn't jive with Tom's painting of Powell as the Knight in Shining Armour galloping in to save the dollar and all American banks, large and small.
The Big Boys are not just whacking the Eurodollar, they are whacking any and all competition to the foundation of their power - the dollar, and that includes whacking crypto, which came into being precisely to offer an alternative to the rigged game that is central bank manipulated fiat currencies.
Curious how long Mr. Wauck has been blogging. I only discovered him in 2020 via Clarice Feldman.
About a week ago both Houses of Congress sent a bill to Biden demanding the release of all Federal Covid information etc. IIRC Biden threatened to veto but Congress would have the votes to overturn the veto.
The bill remains unsigned and the media silent. Is the WH scurrying around buying Dem votes not to overturn a Presidential veto?
Seems there are a lot of very noisy distractions all of a sudden. Bank failures, the Reaper drone, and the push for Ukraine to have a victory etc. Coincidence or just life in America these days?
Mark, on Soros at the center of Davos money, take a moment to read some of Richard Poe's articles https://richardpoe.substack.com/ He contends Soros is (as Rothschild's were) a front man for City of London, Royal Family.
I eagerly await the 5.00% savings rates, the local Ford dealer having to sell that new Bronco I have been eyeing for 10% below MSRP ! We'll know for certain that Powell has succeeded when the F-35 & B-21 programs are cancelled, no more obsolete aircraft carriers are built and most of the existing fleet is mothballed. Senators/Warmongers will wail and gnash teeth, and I shall rejoice at hearing the lamentations of their women, especially Ms. Lindsey.
Years ago I remember reading that Soros would be put in jail if he set foot in France because of the damage he had done to the French franc or economy. There are players on the world stage who couldn't care less about the damage they are causing. There are others who do not understand the effect of what they are doing. Then there are those who simply kick the can down the road and are only concerned with their immediate goals. I assume Powell is conscious of the danger to the world economic system we now face and doesn't want it to crash on his watch. In addition to this the big banks have skin in the game and stand to lose big if the American economy blows up. They are the adults in the room. Our politicians have created this problem they have no understanding of and in any case will not deal with. Reality trumps everything.
The Biden Administration seems to have been deliberately pushing inflation, probably with the goal of inflating away the deficit, so they can continue spending without care.
This whole mess is even more complicated in that there may be significant drug cartel involvement in the shadow banks across the country and unbelievable political corruption at all levels. Follow the threads in this description of alleged cartel money laundering in New Hampshire with connection to SVB (https://forbiddenknowledgetv.net/silicon-valley-bank-trump-the-cartel-drug-money-bank/), and in Arizona connected to the whole election scandal (https://forbiddenknowledgetv.net/us-politicians-corrupted-by-drug-cartel-money-laundering-scheme-and-election-theft/kl).
What’s the mechanism that removes zhou in June? I need to stock up on popcorn
Tom is wrong when he says: "So Powell backstopping [regional banks] at par now allows them to start offering savings rates that are above the zero bound. Oh! Does that change the dynamic in the US banking system?"
Janet Yellen recently testified in Congress that the backstopping of uninsured deposits will be decided on a case by case basis. There is no blanket guarantee. Consequently, large deposits are still fleeing from regional banks to the usual winners - the Big Banks...Powell's buddies.
There is something very rotten and nefarious going on here that doesn't jive with Tom's painting of Powell as the Knight in Shining Armour galloping in to save the dollar and all American banks, large and small.
The Big Boys are not just whacking the Eurodollar, they are whacking any and all competition to the foundation of their power - the dollar, and that includes whacking crypto, which came into being precisely to offer an alternative to the rigged game that is central bank manipulated fiat currencies.