It seems no longer controversial to say that we are in the midst of a World War. In a military sense, the hot front is in Ukraine--although a new military front could soon open up as NATO seeks to create a crisis with Serbia. The economic and monetary front features Russia and China leading the effort to create alternatives to King Dollar as the international reserve currency. The sanctions war, which the collective West had hoped would lay waste to such efforts, has backfired decisively against the collective West. The result is that major non-Western nations which had formerly been closely linked to the West's financial regime are being progressively peeled away by the emerging Eurasian bloc. India and Saudi Arabia are prime, and important, examples of this process.
What an amazing summary. You have a gift of making things crystal clear, Mark, in this dark world. I hope to God Luongo is right. If he is, I'll even forgive him for liking Rush. BTW, SBF was finally arrested today, slumming it in the Bahamas. Extradition to the US is on the cards, where, I imagine, he will occupy the same cell as the late Mr. Epstein, with the same results. As for the CBDC, that is obviously the next Big Thing for the globalists. I think it will fail.
We mustn't forget that the Fed isn't necessarily (and likely isn't) on "our" side. Tom Luongo explains that the Fed is representing the interests of the Commercial banks who would be put out of business by the Central Banks should WEF/Davos succeed. Tom argues that while the Fed approach is best for us at this time (i.e. destroy WEF/Davos), it is in our best interest to eventually replace the Fed e.g. with a community banking system.
That's all true. I don't think Powell gets up every morning thinking, "How can I help the little folk of this great nation today?" However, like China and Elon Musk, whatever his motives, it's great seeing him socking it to the globalists (if that is what he is doing).
Tom, love him, but leaves out the ReverseRepo angle that changes ALL of finance math but no one wants to look at it. It’s the real financial bomb laying in wait.
Hunter’s haiku appears a tad off from the traditional 17 syllables in 3 lines of five, seven, five. For the next showing, a more traditional and relevant haiku may be warranted:
Thanks, Mark, for the excellent post and the reference to the excellent column by Ellen Brown.
I think in the end the Fed saw that the whole economic system of the U.S. was in need of a reset - not a "Great Reset" but a reset nonetheless. Too financialized, too many bubbles, too much dependence on near 0% interest rates, which handcuffed the Fed. Most importantly I believe the consensus of the Fed wants to preserve the Federal Reserve System and establish its power to be able to truly conduct monetary policy for and exclusively for the U.S. That means no more European control of rate increases and liquidity via the offshore dollar market.
As for inflation, the Fed cannot control the supply side, that is true. Only carbon-based energy investment and production (which won't happen with Biden) will solve that problem. So what will the terminal Fed Funds rate end up being? Your guess is as good as mine. The only bubble the Fed can't pop is the Fed fiscal deficit and debt bubbles. That is concerning. I suppose it is better that the Republicans now control the House (the source of all spending). Will they exhibit fiscal discipline? I sure hope so. At the very least they have the potential to restrain Biden and the Senate from more exorbitant expenditures.
Haha you mean SBF? Yeah, Maxine Waters says he won't have to testify, they'll just use the new guy for that. I guess it would be a little too awkward to haul him in front of that committee, being such a valued constituent and donor to them all.
My world... At least your subject is solid, Mark. I suspect your Side Bar for quote sections confused the machine. In your doing that following your thoughts along with guest's stuff is easier.
As always, I do appreciate your bringing diverse and difficult subjects forward clearly. (WRH, Idaho)
Actually, the problems I encounter with copy/paste--I started that post writing in an external editor--comes from the fact that I use Linux. The easy and quick way to copy/paste is to highlight, place mouse pointer at destination, then middle click. But my mouse is too sensitive sometimes. I probably need to check settings for that.
Several years ago I went with a good quality Track-Ball but miss the middle-button of my mouse. My wife's machine uses the Dell-furnished mouse and, well has no middle button to program as I'd prefer, (getting older has left me avoiding using it if possible...)
Thanks for the note; my best regards for you and for your wife in her recovery this Christmas Season.
Was the White House "un-American " for shutting them down. Them and the pipeline. Who now trusts the government that they will not reverse policy any time they feel like it?
"The mainstream narrative is that, for inexplicable reasons, Powell is simply making a terrible mistake with the continuing interest rate hikes." The reality is that our government is making a terrible mistake with continuing spending, and on top of that shutting down the most productive elements of our economy. The result is that we have a Ponzi economy and markets. The further reality is that all Ponzi schemes end up crashing. His balancing act is to take away the punchbowl, and the credit cards while avoiding a crash. He is the adult in the room. So far he has been successful, although Congress is not cooperating. This could end up very badly, and of course he will get the blame. Him and Trump.
In short, the only way things will improve is by getting rid of all the current leadership in the US and here in Europe. Nothing will change until these mad men and women are gone.
https://twitter.com/P_McCulloughMD is also back at Twitter.
https://rwmalonemd.substack.com/ is back on Twitter.
https://twitter.com/RWMaloneMD
https://twitter.com/RWMaloneMD
What an amazing summary. You have a gift of making things crystal clear, Mark, in this dark world. I hope to God Luongo is right. If he is, I'll even forgive him for liking Rush. BTW, SBF was finally arrested today, slumming it in the Bahamas. Extradition to the US is on the cards, where, I imagine, he will occupy the same cell as the late Mr. Epstein, with the same results. As for the CBDC, that is obviously the next Big Thing for the globalists. I think it will fail.
Probably comes from years of writing affidavits and such.
We mustn't forget that the Fed isn't necessarily (and likely isn't) on "our" side. Tom Luongo explains that the Fed is representing the interests of the Commercial banks who would be put out of business by the Central Banks should WEF/Davos succeed. Tom argues that while the Fed approach is best for us at this time (i.e. destroy WEF/Davos), it is in our best interest to eventually replace the Fed e.g. with a community banking system.
That's all true. I don't think Powell gets up every morning thinking, "How can I help the little folk of this great nation today?" However, like China and Elon Musk, whatever his motives, it's great seeing him socking it to the globalists (if that is what he is doing).
Tom, love him, but leaves out the ReverseRepo angle that changes ALL of finance math but no one wants to look at it. It’s the real financial bomb laying in wait.
Dunno. Every time I listen to him he's talking about Reverse Repo.
Oh, this will be more, more epic than any of you can even possibly imagine.
Put your Depends and helmets on….
Double Depends and brown trousers.
Since we're talking about money,
Jonathan Turley
@JonathanTurley
Hunter’s haiku appears a tad off from the traditional 17 syllables in 3 lines of five, seven, five. For the next showing, a more traditional and relevant haiku may be warranted:
"Money falls like leaves
Influence is an art form
The Big Guy sees all."
You missed the final line: "And a 10% haul."
Thanks, Mark, for the excellent post and the reference to the excellent column by Ellen Brown.
I think in the end the Fed saw that the whole economic system of the U.S. was in need of a reset - not a "Great Reset" but a reset nonetheless. Too financialized, too many bubbles, too much dependence on near 0% interest rates, which handcuffed the Fed. Most importantly I believe the consensus of the Fed wants to preserve the Federal Reserve System and establish its power to be able to truly conduct monetary policy for and exclusively for the U.S. That means no more European control of rate increases and liquidity via the offshore dollar market.
As for inflation, the Fed cannot control the supply side, that is true. Only carbon-based energy investment and production (which won't happen with Biden) will solve that problem. So what will the terminal Fed Funds rate end up being? Your guess is as good as mine. The only bubble the Fed can't pop is the Fed fiscal deficit and debt bubbles. That is concerning. I suppose it is better that the Republicans now control the House (the source of all spending). Will they exhibit fiscal discipline? I sure hope so. At the very least they have the potential to restrain Biden and the Senate from more exorbitant expenditures.
FBS arrested in by the Bahamian authorities on request of SDNY. He should never see daylight again
Haha you mean SBF? Yeah, Maxine Waters says he won't have to testify, they'll just use the new guy for that. I guess it would be a little too awkward to haul him in front of that committee, being such a valued constituent and donor to them all.
Ya think so? :-)
Hey Mark, the first part of the post is duplicated...first 20 paragraphs or so..
But great stuff. Good to see people besides Luongo expounding the same thesis
I'll fix that. Sorry!
I'm looking at that and I'm seeing that stuff I know a formatted somehow didn't get formatted when published.
My world... At least your subject is solid, Mark. I suspect your Side Bar for quote sections confused the machine. In your doing that following your thoughts along with guest's stuff is easier.
As always, I do appreciate your bringing diverse and difficult subjects forward clearly. (WRH, Idaho)
Actually, the problems I encounter with copy/paste--I started that post writing in an external editor--comes from the fact that I use Linux. The easy and quick way to copy/paste is to highlight, place mouse pointer at destination, then middle click. But my mouse is too sensitive sometimes. I probably need to check settings for that.
Several years ago I went with a good quality Track-Ball but miss the middle-button of my mouse. My wife's machine uses the Dell-furnished mouse and, well has no middle button to program as I'd prefer, (getting older has left me avoiding using it if possible...)
Thanks for the note; my best regards for you and for your wife in her recovery this Christmas Season.
May be related…
“The White House’s chief energy adviser has described as “un-American” the refusal of US shale investors to ramp up drilling”
The White House’s chief energy adviser has described as “un-American” the refusal of US shale investors to ramp up drilling
While refusing to finish the Keystone Pipeline and turning down drilling leases left, right and centre was Yankee Doodle Dandy...
Was the White House "un-American " for shutting them down. Them and the pipeline. Who now trusts the government that they will not reverse policy any time they feel like it?
Yep - why should a company that requires years for a payback (swag 20 years), trust a government that has told them they want to end fossil fuels.
And any time an administration changes, it may become an unfriendly environment for fossil fuel investment.
"The mainstream narrative is that, for inexplicable reasons, Powell is simply making a terrible mistake with the continuing interest rate hikes." The reality is that our government is making a terrible mistake with continuing spending, and on top of that shutting down the most productive elements of our economy. The result is that we have a Ponzi economy and markets. The further reality is that all Ponzi schemes end up crashing. His balancing act is to take away the punchbowl, and the credit cards while avoiding a crash. He is the adult in the room. So far he has been successful, although Congress is not cooperating. This could end up very badly, and of course he will get the blame. Him and Trump.
In short, the only way things will improve is by getting rid of all the current leadership in the US and here in Europe. Nothing will change until these mad men and women are gone.
As Brown notes, however, prominent Fed officials have been very public in questioning "retail" CBDC. What do I know?
Maybe because he was going to testify today? I dunno. Sounds to me like he'll lawyer up and talk to no one now.