Jay Powell traded during restricted blackout period; failed to disclose most trade dates; apparently lied about muni conflict; directed massive Wall St bailouts despite conflicts
The FED was created in 1913, under the guise, that their job would be to stabilize the markets. What have been the results over the last 109 years. 1. Their policies caused the FIRST Great Depression. 2. With FED created artificial inflation, the FED has STOLEN 98% of our wealth. 3. Their Current MMT (insane) policies WILL push the US And the World into a second Great Depression, 3 TIMES BIGGER THAN THE FIRST ONE !!!! THIS IS GOING TO GET REALLY, REALLY, REALLY UGLY !!!!!
Wow, good stuff! Just shared this with my 29,000 Telegram followers. I run Silence Dogood MBA Telegram and Silence Dogood MBA Substack. God bless šš»šš»
Powell was not directing the trades himself and he did not communicate it to his investment manager, but these investments are under 1% of his portfolio. If he did tell his investment manager, then there is another potential issue of insider trading. The real issue IMHO is that the Fed has increased the money base or cash (as defined by M1) from $4 Trillion to over $20 Trillion dollars since March 2020. They have destroyed the USD, and inflation will make all pay. If you want to get angry for a righteous cause, focus on the profligate spending of the Fed to prop the US Treasury and other public markets and firms without any government approval. Ask Powell where he got the authority to print 16 Trillion dollars, when the Federal government cannot pass a $1T infrastructure bill. Makes you think...
Maybe all "officials" (elected or not, because the Fed isn't even a government department much less elected) should have to put any stocks, bond, etc., in a holding account until they are no longer in such position.
I believe, that would also solve the life time politician matter.
If they weren't such cheaters they could have a financial advisor or such, but you know you couldn't trust that relationship.
After all, average people only have investments through IRA's, pensions, etc., and don't have near the information to sway their hard earned money.
Does it really make sense to let officials, with information average people could only hope to have, be given any more advantage than an average citizen?
The FED was created in 1913, under the guise, that their job would be to stabilize the markets. What have been the results over the last 109 years. 1. Their policies caused the FIRST Great Depression. 2. With FED created artificial inflation, the FED has STOLEN 98% of our wealth. 3. Their Current MMT (insane) policies WILL push the US And the World into a second Great Depression, 3 TIMES BIGGER THAN THE FIRST ONE !!!! THIS IS GOING TO GET REALLY, REALLY, REALLY UGLY !!!!!
Wow, good stuff! Just shared this with my 29,000 Telegram followers. I run Silence Dogood MBA Telegram and Silence Dogood MBA Substack. God bless šš»šš»
Powell was not directing the trades himself and he did not communicate it to his investment manager, but these investments are under 1% of his portfolio. If he did tell his investment manager, then there is another potential issue of insider trading. The real issue IMHO is that the Fed has increased the money base or cash (as defined by M1) from $4 Trillion to over $20 Trillion dollars since March 2020. They have destroyed the USD, and inflation will make all pay. If you want to get angry for a righteous cause, focus on the profligate spending of the Fed to prop the US Treasury and other public markets and firms without any government approval. Ask Powell where he got the authority to print 16 Trillion dollars, when the Federal government cannot pass a $1T infrastructure bill. Makes you think...
So...guillotine time?
Thank God somebody is speaking up about the corruption.
Maybe all "officials" (elected or not, because the Fed isn't even a government department much less elected) should have to put any stocks, bond, etc., in a holding account until they are no longer in such position.
I believe, that would also solve the life time politician matter.
If they weren't such cheaters they could have a financial advisor or such, but you know you couldn't trust that relationship.
After all, average people only have investments through IRA's, pensions, etc., and don't have near the information to sway their hard earned money.
Does it really make sense to let officials, with information average people could only hope to have, be given any more advantage than an average citizen?
TALK ABOUT INEQUITY!
I have just maxed out all of my credit cards. I have no intention of paying any of it back. Game over.
Powell using his position and influence for unfair monetary gain?? Surprise of the century! Great article, great read. Thanks for this.
Why a nameless author? If you are so confident in your accusations then stand up and be named.
You cannot compare the two.
Watergate was a big scandal politically.
But the Fed needs to be investigated, that's for sure.