That is the first time I had heard about that $400B and how close the financial markets were to collapsing in 2020. Amazing Covid appeared at the same time and took it off the front pages of “everything”. Or was it amazing?
Great article. My eyes keep getting opened wider by the day.
Every employee of the Fed needs to be fired and all internal documents placed in a public database with no redactions. Total disaster with no accountability.
End the Fed. Ron Paul was one of the few who would occasionally call them on the carpet. But nobody else in the District of Corruption wanted to reform the system that they profited from. So we will have the collapse. It will be worse because they clung to power.
Models, always models. Whether it's monetary policy, covid, climate, we base all our important decisions on mapping outcomes based on the inputs of unpredictable humans...how's that working out for ya?
Apr 24, 2023·edited Apr 24, 2023Liked by Rudy Havenstein
Never seen the BTFP approach before? I’ve seen its cousin where, during the housing bubble, banks were giving buyers 110% mortgages along with tracker mortgages. Maybe the BTFP is different but it feels the same. Money printing relief valve the big difference. Over-levered mortgage owners get homelessness.
As for Congress - there’s no way they understand the Fed - most of them are lawyers, right? Might explain Powell too. To be fair, this subject is difficult (I often have to read sections twice and sometimes have to settle with the gist) - it’s much easier for Congress to get mired in diversity and gender nonsense rather than the important issues of running this country by making sure the guardrails are fair and enforced.
One question I've never heard anyone answer is how is that the Fed is able to unambiguously exceed the limitations of its charter, routinely, massively and without any real explanation?
WTF, Ben? WTF, Janet? WTF, Jermoe? Has Congress ever said a word about this? Maybe I just have not been paying attention. Or maybe rules are only for the peasantry.
“The Federal Reserve is not a cabal of evil geniuses dedicated to bringing down the global order so as to create a new one with its Wall Street masters in complete control.”
Uh...that’s *exactly* what they are and what they’re doing. That’s what all the world’s governments, central banks, and ruling classes have been doing in close collaboration while using a pandemic as a cover story, along with a stage-managed war and the phony climate crisis.
And I don’t know how you can call them incompetent and their policies failures and then post that FRED chart showing the huge increase in the wealth of the 1%. I think they know exactly what they’re doing and are succeeding brilliantly at it.
the elites new the s--t was gonna hit the fan, so they engineered a massive spherical fan, multidirectional all encompassing sprayer to distribute the bulls--t to everyone everywhere in all directions and they could. To ensure that the s--t borne catastrophes to come were under their narratives and controls and they'd be seen as the saviors, not the cause.
The mainstream financial media is completely useless and has been corrupted. If the inflation of the past two years didn't force a reckoning in how they cover the Fed, what will it take? We have similar problems with the rest of the media, notably the complete absence of any critical reporting when it comes to the separation of powers -- specifically foreign policy and war powers.
I wonder if the real “evil geniuses” were the Chinese. I’ve followed their “collapse” for several years, and it indeed seemed imminent. However, with their Wuflu propaganda program, it seems they’ve turned the table on the West, and are now just watching it all burn to the ground.
That is the first time I had heard about that $400B and how close the financial markets were to collapsing in 2020. Amazing Covid appeared at the same time and took it off the front pages of “everything”. Or was it amazing?
Great article. My eyes keep getting opened wider by the day.
Every employee of the Fed needs to be fired and all internal documents placed in a public database with no redactions. Total disaster with no accountability.
End the Fed. Ron Paul was one of the few who would occasionally call them on the carpet. But nobody else in the District of Corruption wanted to reform the system that they profited from. So we will have the collapse. It will be worse because they clung to power.
Rudy the article makes you think. Thank you for writing about it.
Models, always models. Whether it's monetary policy, covid, climate, we base all our important decisions on mapping outcomes based on the inputs of unpredictable humans...how's that working out for ya?
Never seen the BTFP approach before? I’ve seen its cousin where, during the housing bubble, banks were giving buyers 110% mortgages along with tracker mortgages. Maybe the BTFP is different but it feels the same. Money printing relief valve the big difference. Over-levered mortgage owners get homelessness.
As for Congress - there’s no way they understand the Fed - most of them are lawyers, right? Might explain Powell too. To be fair, this subject is difficult (I often have to read sections twice and sometimes have to settle with the gist) - it’s much easier for Congress to get mired in diversity and gender nonsense rather than the important issues of running this country by making sure the guardrails are fair and enforced.
One question I've never heard anyone answer is how is that the Fed is able to unambiguously exceed the limitations of its charter, routinely, massively and without any real explanation?
WTF, Ben? WTF, Janet? WTF, Jermoe? Has Congress ever said a word about this? Maybe I just have not been paying attention. Or maybe rules are only for the peasantry.
“The Federal Reserve is not a cabal of evil geniuses dedicated to bringing down the global order so as to create a new one with its Wall Street masters in complete control.”
Uh...that’s *exactly* what they are and what they’re doing. That’s what all the world’s governments, central banks, and ruling classes have been doing in close collaboration while using a pandemic as a cover story, along with a stage-managed war and the phony climate crisis.
And I don’t know how you can call them incompetent and their policies failures and then post that FRED chart showing the huge increase in the wealth of the 1%. I think they know exactly what they’re doing and are succeeding brilliantly at it.
the elites new the s--t was gonna hit the fan, so they engineered a massive spherical fan, multidirectional all encompassing sprayer to distribute the bulls--t to everyone everywhere in all directions and they could. To ensure that the s--t borne catastrophes to come were under their narratives and controls and they'd be seen as the saviors, not the cause.
POGO: "The FED is our enemy"
The mainstream financial media is completely useless and has been corrupted. If the inflation of the past two years didn't force a reckoning in how they cover the Fed, what will it take? We have similar problems with the rest of the media, notably the complete absence of any critical reporting when it comes to the separation of powers -- specifically foreign policy and war powers.
I wonder if the real “evil geniuses” were the Chinese. I’ve followed their “collapse” for several years, and it indeed seemed imminent. However, with their Wuflu propaganda program, it seems they’ve turned the table on the West, and are now just watching it all burn to the ground.