Back from its 55-day vacation, the Fed raises rates less than 1% while inflation rages
The stonk market is not the economy, no matter what they tell you on CNBC
On Wednesday, the FOMC announced it would raise rates another 0.75% to about 3%. We nailed it with our prediction after Powell’s former boss at Carlyle Group and World Economic Forum Board Director (alongside BlackRock’s Larry Fink) basically told Powell a 1.00% hike was not permitted. And so Powell hiked only 0.75% despite #CPlie “inflation” printing well above 8% for the past six months. The Fed bring rea rates to about negative 5% — after roughly 55 days of doing practically nothing to “fight inflation” at all.
It’s really disturbing to us that more people cannot see how corrupted and captured Jay Powell and the Federal Reserve are by Wall Street, especially a most insidious and dangerous element of private equity shadow bankers. BlackRock, Blackstone, Vanguard, Carlyle Group — their CEOs think they’re some sort of unelected worldwide plutocracy. And Jay Powell is more than happy to oblige their every wish.
At one point, BlackRock’s assets under management (AUM) reached $10 Trillion (before suffering the biggest losses in history in the first half of 2022 of $1.7 Trillion). That’s more than even the Federal Reserve’s own monstrous balance sheet of still(!) nearly $9 Trillion (which the Fed refuses to shrink meaningfully). And yet BlackRock is not designated a Global Systemically Important Financial Institution (G-SIFI). It gets a pass on more rigorous regulation, particularly limitations on buybacks and bonuses. Does that pass the smell test to you?
Our work exposing systemic financial corruption is tiring, frustrating and mostly thankless. As you might have noticed, we’ve pulled back a bit while the Fed was on vacation. We’ve had some good talks and some good thinks. Our next major work will be a working list of actionable steps we feel need to be taken to reign in the Federal Reserve and its financial corruption.
We’re also excited by other individuals and groups taking action and organizing potential in-person, peaceful and lawful demonstrations. One such crusader is Patrick Lovell. His The Con docuseries (https://www.thecon.tv/) is must-see TV and absolutely stellar. Patrick and his colleagues are planning an in-person demonstration on November 1 at the DC Fed. Also check out longtime ‘Occupier’ Dr. Harrison Tesoura Schultz. He has a number of projects in the works and is his group is planning an in-person demonstration on November 5 at the New York Fed.
A few important notes: (1) We have no formal connection to either of these groups or demonstrations, but we believe they both represent important leaders in the movement (which is far bigger and older than our small, anonymous group). We’re happy to help them reach more people and will share reminders in coming weeks; (2) We strongly encourage EVERYONE who ever engages in any in-person protests to be 100% PEACEFUL, LAWFUL, ORDERLY, RESPECTFUL, etc. We DENOUNCE violence in all forms both physical and verbal/hate speech and absolutely do not support anything of the sort; (3) The most important thing right now is education and getting the word out peacefully. That is what will win out in the long run. The Fed-Wall Street establishment is so corrupt to its core that we just need to do expose it, and the entire public sentiment will turn and demand change.
Ok, that’s all we’ve got for you this week. But we hope there will be more good things to come in this epic fight of David vs. Goliath. They’ve gone way too far this time, and their hubris will be their downfall. Occupy The Fed. Audit The Fed. End The Fed. And hey, you might even say…
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Absolutely fantastic! Thank you.
Glad to see you back! As usual, you hit the nail on the head. Truth to power is never easy or rewarding. But it’s doing the right thing. Why is a Fed rate at least equal to inflation not even on the table, when it was always a given before recent years? Why is net sales of $120 billion a month of treasuries and MBS not even on the table? That would be consistent with the net purchases of $120 billion per month on the way up to $9T. With inflation raging.