Duel of the Billionaire Globalists

"No way… a recipe for misery." [Wiggin Sessions] May 07, 2022 Duel of the Billionaire Globalists "No way… a recipe for misery." – Elon Musk, before buying Twitter "Everyone will blame me for everything." – Elon Musk, as Twitter’s new owner [Addison Wiggin]Dear Reader, What a hoot! This Elon Musk acquisition story of Twitter is getting, well, bizarre. More than just because his biggest “investor” (or co-signer) this week is a Saudi Prince. We ripped this from Zero Hedge yesterday: “Globalist, Bill Gates, is [talking greasy]( after Musk compared the world's former richest man to the pregnant man emoji. Musk's purchase also prompted a constellation of 26 Soros-linked NGOs to sign a [letter]( expressing concern about the plan - writing that ‘Elon Musk's takeover of Twitter will further toxify our information ecosystem and be a direct threat to public safety, especially among those already most vulnerable and marginalized’.” The organizations on the list are enumerated in the ZH piece. [The whole thing is worth your time]( if you’re up for some entertainment on a Saturday. [Elon tweet] “Musk's purchase also prompted a constellation of 26 Soros-linked NGOs to sign a [letter]( expressing concern about the plan - writing that ‘Elon Musk's takeover of Twitter will further toxify our information ecosystem and be a direct threat to public safety, especially among those already most vulnerable and marginalized’.” The organizations on the list are enumerated in the ZH piece. [The whole thing is worth your time]( if you’re up for some entertainment on a Saturday. As are these offerings from this week with Matt Piepenburg: [Tell Me Why I Don’t Like Mondays]( This is not the first time I’ve had a hangover on a Monday. Bad wine has a way of ruining your day before it has even begun. As the Romans said, In vino veritas. Today, though, it’s not the liquor that’s giving me a headache. It’s the stupid economy… [FAANG stocks are getting hammered](. [Amazon is falling]( like Icarus too close to the sun. This week on TWS, I talked with Matt Piepenburg of Matterhorn Asset Management. Some context: Ten years ago, I brought my son Henry to meet Egon von Greyerz, the founder of Matterhorn. He smuggled us into a gold vault in the Free Trade Zone deep under the Zurich international airport. I believe it was illegal at the time., might still be. (Sorry, Egon.) Egon and I have been friends for a long time. I’m glad he put me in touch with Matt… [Scanty Eyes on the Fed]( The Federal Open Market Committee (FOMC) is meeting tomorrow in Washington. Within 18 hours, we could see a rate hike of .50 basis points… the highest in 22 years… and see if Chairman Powell can schmooze the markets long enough to settle down. The unsuspecting public – that’s “us” to them! – is getting slammed by inflation, aghast at plummeting stock prices, and holding their breath to see if the Powell Fed is going to stick to their plan and get even more “aggressive” than their puny little hike in March. How many folks are channeling Paul Volcker these days? For years, Volcker and his successors tried to tame the beast. I met him once in his office many years ago… he had a caricature of himself as a viking slaying the dragon “Inflation.” [O, What A Relief Rally]( With today’s relief rally, we’d do well to remember, macro is at play. It’s bigger than the markets. Inflation is a beast we haven’t tamed. Christopher Leonard, author of “The Lords of Easy Money”, said in his Wiggin Session: the Fed is running “[a truly unprecedented experiment]( “In the first 95 years of its existence,” Leonard continues, “the Federal Reserve steadily increased the monetary base – dollars that only the Fed can create out of thin air. The Fed increased the American monetary base to about a trillion dollars between 1913 and 2008. A trillion dollars in a century.” But it gets worse. Leonard, again: “Following the financial crisis in 2008, the Fed's balance sheet grew by $3.5 trillion by 2014. The Fed printed over 300 years worth of money in about four and a half years. Couple that with holding short term interest rates at zero for about seven years…” A spectacle of excrement waiting to happen, swept under the rug for another day. ([Click here to watch Christopher Leonard’s full rundown of the Fed on YouTube.]( Throw in the “stimmie-gimmies” from the Pandemic and another round of zero interest rates and you’ve got inflation to the moon. We knew it was possible, but refused to acknowledge its reality. The former head of the New York Fed said out loud he thought they’d waited too long to tackle the Beast. At least for today, the market doesn’t agree. [The “Powell Pivot”]( With today’s relief rally, we’d do well to remember, macro is at play. It’s bigger than the markets. Inflation is a beast we haven’t tamed. Christopher Leonard, author of “The Lords of Easy Money”, said in his Wiggin Session: the Fed is running “[a truly unprecedented experiment]( “In the first 95 years of its existence,” Leonard continues, “the Federal Reserve steadily increased the monetary base – dollars that only the Fed can create out of thin air. The Fed increased the American monetary base to about a trillion dollars between 1913 and 2008. A trillion dollars in a century.” But it gets worse. Leonard, again: “Following the financial crisis in 2008, the Fed's balance sheet grew by $3.5 trillion by 2014. The Fed printed over 300 years worth of money in about four and a half years. Couple that with holding short term interest rates at zero for about seven years…” A spectacle of excrement waiting to happen, swept under the rug for another day. ([Click here to watch Christopher Leonard’s full rundown of the Fed on YouTube.]( Throw in the “stimmie-gimmies” from the Pandemic and another round of zero interest rates and you’ve got inflation to the moon. We knew it was possible, but refused to acknowledge its reality. The former head of the New York Fed said out loud he thought they’d waited too long to tackle the Beast. At least for today, the market doesn’t agree. [The Real Plunge Protection Team… Is You!]( In descending order, the current members are Janet Yellen, James Powell, Allison Lee (acting), Caroline Crenshaw and Rostin Benham. Okay, you got me, maybe it's not so fun. These government websites are laborious and appear to be deliberately designed to bore you to death before you can find any useful information like: “how much money do they have and how much did they kick in a bunch on Wednesday to save their buddies on Wall Street?” Nary a word. The PWG was established by President Ronald Reagan following the fun times in October of 1987. The “group” is meant to advise the president on policy regarding the regulatory boards under his charge in the executive branch of government. Yeah, definitely not fun. Let’s move on. [Click here to learn more]( Matt was great to talk to. Of course, he was speaking my language, so it was fun. We discovered we share a background in the classics – he at Brown, me at St. John’s College, both Great Books programs. Follow your bliss, [Addison Wiggin] Addison Wiggin Founder, The Wiggin Sessions P.S. Next week we’ll be looking into “food shortages” coming to the U.S. [Mark Rossano is joining us from C6 Capital](. Mark has been neck deep in supply chain issues since before the coronavirus graced us with its presence. He’s got a few choice words about Biden’s remarks following the G7 meeting regarding food shortage and around the world… and coming to America. In preparation, take a look at this quick read written by Bill Bonner: [Click here to learn more]( The Only Monthly Newsletter Devoted to Uranium Equities As the editor of Uranium Insider Pro, Justin Huhn covers all the "macro factors" that impact uranium prices. He also maintains a list of 10 uranium equities that he believes offer the best risk/reward. In fact, since he started the list two years ago, the stocks he’s tracking have generated a +335.9% return – versus a 27.4% increase in the price of uranium in the same time. Learn more about Justin’s monthly updates and "time-sensitive" intra-month bulletins [here](. Ed. note: Got something to say? Send your feedback to The Wiggin Sessions, [here.](mailto:WigginSessions@5minforecast.com) Follow the Wiggin Sessions on Social Media! [Facebook Group]( [Twitter]( [Instagram]( [YouTube]( [LinkedIn]( [The Financial Reserve]The Wiggin Sessions is committed to protecting and respecting your privacy. 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