Great Supine Protoplasmic Invertebrate Jellies!
SOME ANIMALS ARE MORE EQUAL THAN OTHERS
”I think we now understand better how little we understand about inflation.” - Jerome Powell
That’s comforting, Jerome. Maybe you and your crew shouldn’t have been so vocal lamenting low inflation, jackass.
I added the Fed’s first mandate…
Congratulations, though. The Fed actually “ran off” about $10 billion of MBS in the past week. At this rate, they’ll get back to 2008 levels (of zero) in about 5 years and 3 months. We’re all so proud.
Today’s title is a Boris Johnson line.
Meanwhile, failed regulator, hedge fund motivational speaker and former Berkeley econ professor Janet Yellen is now handling U.S. foreign and energy policy. No wonder we’re at record low confidence.
Bloomberg Podcast: Tesla's Stock Wipeout Opens Door for the Brave
In what world is this a “wipeout”? Tesla shares are 10-times higher than they were just 3 1/2 years ago.
Also: Crypto exchange Coinbase's (COIN) analytics program, Coinbase Tracer, will provide the U.S. Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including “historical geo tracking data” and transaction history, according to a contract obtained by watchdog group Tech Inquiry.
So 10 months ago BlockFi was valued at $4 billion, then $1 billion a few weeks ago, and it apparently just sold for $25 million.
Can’t wait for the CBDC’s!
I mean, does anyone seriously think that the U.S. would NOT end up with Chinese-style authoritarian surveillance and control if we went all digital? Don’t be naive.
The article has long been scrubbed, but I quoted this excerpt back in December 2017, and it stuck with me. (Bitcoin maxis - please, save your anger. This is just food for thought.):
The usual disclaimers apply. Remember, I do believe some conspiracies exist.
…it’s now becoming increasingly evident that Bitcoin may be a creation of the NSA and was rolled out as a “normalization” experiment to get the public familiar with digital currency. Once this is established, the world’s fiat currencies will be obliterated in an engineered debt collapse (see below for the sequence of events), then replaced with a government approved cryptocurrency with tracking of all transactions and digital wallets by the world’s western governments.
Then there’s this 1997 NSA Document: How To Make A Mint The Cryptography Of Anonymous Electronic Cash
CEO Stock Sales Raise Questions About Insider Trading “some corporate insiders might be using nonpublic information to game the system.”
This sounds almost as corrupt as the FOMC insider trading scandal, which in the MSM has been completely memory-holed.
I see and hear crap like this every single day:
The Fed increased its overnight rate for a third time this year in mid-June to a target range of 1.50 to 1.75 percent, an aggressive response to persistent inflation as the Consumer Price Index climbed at its fastest pace in over 40 years in May.
No, it’s not an “aggressive response.” It’s an embarrassing response.
Stop the gaslighting.
Sara E. (not to be confused with Sheila E.) was in Aspen today, talking seriously about the immense societal benefit of money-losing Bumble and The Honest Company (actual names), or something. Here are their charts since their IPO’s.
while I agree that the central banks are going to eliminate cash and try to take control, I also believe that something will become a physical substitute. consider cigarettes in prisons, or the original talley sticks in England. maybe gold coins, maybe something else, but many people will not tolerate having everything monitored and there will be something that bubbles up to take the place of the c-note. one man's view
This is good. The tone reminds me of French newspaper Le canard enchaine. Great writing style :)