Read this: https://www.zerohedge.com/markets/luongo-war-dollar-already-over-part-i
The Fed is now ready, I think, to go to war with Davos over the future of money and they aren’t ready to hand over the keys to the candy store to a bunch of European commies, at least while also cutting Wall St. out completely of the New World Order…
I recently posted that I thought the Fed should cut rates so as to make it easier to pay interest on our enormous debt. This article changed my mind.
First of all you have to think like an American banker. We need to put America, or at least the US dollar first, screw the Davos crowd. Put up a big middle finger to those promoting the Agenda 2030 and the Covid nonsense. Jerome Powell is our man, the Paul Volcker of our time. We need to stop kicking the can down the road and rally around the flag and the US dollar.
Raising interest rates means pain, enormous pain. To the Davos crowd, to the stock market, to the housing market, to the government deficit, to the interest on the national debt. It will probably cause a deep recession, a real one, not the fake lockdown recession of April 2020 (which the government spend $5 trillion to recover from). There is no appetite for another $5 trillion in stimulus. But bring it on, we need some tough love from the only adult in the country, Jerome Powell.
Tom Luongo's blog is here: https://tomluongo.me/.
More from that article on top:
SOFR knocked out the Eurodollar because that was the Fed’s and New York’s ultimate goal; to replace the global rate for dollars with a domestic one where the capital would have to trade here. The globe takes its cues, not from what Europe or Hong Kong wants, but what America needs. This stabilizes our banking system, taking back power the Fed had ceded under Greenspan, Bernanke and Yellen and reminding everyone else just who runs Bartertown. Most importantly, it pulls liquidity from around the world back into US markets, providing a foundation for a future where Davos doesn’t control DC.
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