- "Ask not what your country can do for you, but what you can do for your country..."
- JFK
Do you really think and believe that Chairman Powell is motivated to do what he can for America? We, at Evolution, definitely don't. He is motivated by ego. The whole concept of the reserve was formulated by the rich, JP Morgan and company for the status quo. They privatize the profits and socialize the losses. This is the way he thinks, "The American economy won't descend into a depression on my watch." So, he goes with the playbook of zero interest rates, savers be dammed, the 40% low wage earners will continue to suffer and the wealth gap continue to grow. He plans to keep his job and this policy until 2025. Yes, he says as well as anyone who gets the post that the Congressional mandates of fighting inflation and full employment are the cornerstones of the Federal Reserve thinking and policy. So much BS!
Second thoughts?
You have doubts about our feelings for the private firm, the Federal Reserve? Consider what the same chairman stated almost three years ago. The Fed's policy would return to normalize interest rates. The move would be gradual so as not to spook the market or international currencies. He said by 2020, the 10-year note would be around 3.75%, Let's take a look at this man's convictions. The 10-year rate is now 0.72%. He is saying that whatever US citizens purchase for the next ten years that inflation will hold prices below three-quarters of a percent. Can you remember anything that has not gone up in price in ten years? Put it in concepts that everyone understands. A new car today versus 2010? Rent today versus 2010? The price of a medium, new home today is $320,000 versus the medium price of $200,000 in 2010. The cost of a stamp in 2010 was .44 cents and today, .55 cents. So much BS!
Chinese look to gain...
Guo Shuging is the equivalent of Powell in China. He is the chairman of the Chinese Banking Regulatory Commission. He recently criticized Powell and the Fed for excessive money printing which could cause international currency problems. His policy is wrecking trade and putting all nations in financial jeopardy. He is right, but of course, we can see through his agenda. China does the same excessive printing and worse. The government tells banks to roll over all debt in all circumstances. He is a hypocrite! So much BS!
Not alone...
The chairman only reflects the type of people and thinking that dominates America. Did you read in the news where Microsoft and Walmart might partner to buy the Chinese firm TikTok? Why, you ask? Simple, they want the firm for advertising. Advertising works! They brush off the fact that this is nothing but a info gathering concern that the Chinese government will use to influence America. Our firms are free to act in our open society, but their greed is excessive. This is what is wrong with present day America. Yes, we have investors who put their money into green energy and partner with firms that are trying to do something for our country, but their numbers are insufficient to enact any impact for the better. Last week, Warren Buffett reached his 90th birthday. It took him a long time to show wisdom for the general good and not just for the pocketbook. He always was against gold because it did not pay a dividend. Maybe the founding fathers knew that too, but they chose gold because it limits spending, keeps your currency strong and fights inflation. It retains value. You cannot print gold. It gave our nation a cornerstone of stability. That is the dividend! Glad he joins Jefferson and Franklin and Evolution of Democracy. By the way, do you know who first realized this weak point about capitalism, which is nothing more than good and evil among people? That they will sacrifice any principle if they can get more profits? Stalin. He stated it over 100 years ago.
Budget numbers are out
The Fed has printed in excess of $9 trillion and our revenues to the government is $3.5 trillion. The gap of $5.5 trillion to the debt side is not just alarming, but continues to grow. Both political parties seek to "buy" voters with stimulus plans. They are asking the government to do rather than what they can do for America. This is more debt. This is how you destroy a currency. Keep in mind that the US is the world's reserve currency. Powell is putting that gift in peril. You read above where China is seeking to capture this position. If we ever lose this economic trading pedicle, inflation will run rampant in the US. Gasoline could easily double. The pandemic showed the dangers of importing everything. We imported our face masks, our PPE, everything! Do you realize what inflation will do to prices? Everything will go up! The Fed is taking the road to hyperinflation. If anyone from 1920 Germany was still alive today, this is what they would say, "Stop in the name of Love..." I never thought that the Supremes would be an economic indicator. However, this is the Oracle of Omaha's favorite indicator. You take the total market cap(TMC) and apply it to GDP. Do you know what the present reading is? 183%! No wonder Buffett saw the shine in gold. Both political parties are going to make it worse. Neither will admit the Federal Reserve destroys the dollar and our standard of living. This is why we need a new political party. If I ever had the money and resources, the Liberty Party would end all foreign entanglements and promote the general welfare like our founders envisioned. And of course, we would End the Fed!
