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IT’S OFFICIAL: The Federal Reserve HATES Trump!
It’s not enough that the mainstream media is on a witch-hunt against the president – but now the FED has managed to find the scapegoat for the next huge crisis.
In their conceit and audacity, the new FED chairman, Jerome Powell, has told Congress that the U.S. has been acting in an unsustainable fashion for quite some time, and it keeps doing so. Then, he subtly connected this point with the tariffs that President Trump has put on China, as if this recent policy has something to do with the fact that the Central Bank has been buying toxic mortgages, lowering interest rates to zero, embarking on the experimental QE programs, which are now forcing the FED to tighten just when credit is needed, due to tax cuts.
And, of course, the FED has been manipulating inflation stats, buying equities to prop up the markets, and they probably have been suppressing paper gold prices.
In other words, disregarding all their previous reckless actions over the past 10 years, they are now, shamelessly, shifting all future blame by Congress and the American people, to the presiding president.
This is a dangerous move for a country already divided and torn apart.
The narrative here is quite clear-cut. When the next stock market crash happens, the media will claim that Russia and China caused it. Then, the theme will expand to say that the trade war that Trump launched on China is to blame.
In today’s world, 48 countries, close to a quarter of the world’s nations, have a cheaper manufacturing base than China’s. So, to claim that putting restrictions on Chinese goods would collapse an economy as robust as America’s is total nonsense.
Powell’s testimony only serves one purpose: The FED wants to stir all the attention away from it. The institution needs to stay sacred and can’t afford to deal with public scrutiny; otherwise, Congress will demand an audit, an inquiry into the origins of the Federal Reserve, and the restructuring of the monetary system to the constitutional right of Congress to issue interest-free currency, not owed back to the FED.
It looks like everyone knows that the crisis is at hand and hedging their bets.
Pointing fingers will become much more frequent, both indirectly and blatantly.
The problem, though, is that measures, such as those taken in 2008, will not be tolerated by the evaporating middle-class.
The next crisis will bring about an entire reset, or it will usher in more government control, universal income, greater subsidies, and more banking restrictions.
This could be one of the reasons Bitcoin is soaring right now, along with the fact that BlackRock, the world’s largest asset management company, is looking for an angle into cryptocurrencies.
Like I said on Tuesday, this is a critical juncture. We will either be able to solve the problems, right here and right now, which will lead to a dramatic relief rally, or we hit the brakes, full stop, and head for genuine trouble.
The next few weeks will determine this.
This is why gold and silver are selling-off hard. The market can’t make sense of the trajectory of the economy and wants to be liquid, sit on cash, and wait it out.
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