Jerome Powell Is Mad as Hell

We should count ourselves lucky if we somehow avoid a crack-up boom and dodge the bullet of a full-scale financial crisis. [Gilder's Daily Prophecy] November 04, 2022 [WEBSITE]( | [UNSUBSCRIBE]( URGENT: Your Link Here’s your new link: [secure link]( Jim can barely contain his excitement. [Click here to learn more]( He can’t wait to tell you about his newest reveal… …and what it could mean for YOUR financial future. Go here now: [secure link]( *** Urgent Warning From Paradigm’s Publisher, Read Below *** Hi, Matt Insley here, executive publisher of Paradigm Press… with an urgent note. Our chief macroeconomist, Jim Rickards, just released a brand new video with an URGENT warning and I’m making the rounds to make sure you see it. In short, Jim sees a massive midterm election COVER UP unfolding right now. It’s a huge story about President Biden that’s not getting much coverage from the mainstream media. There are TWO things you need to do right now to get caught up: #1 You can see Jim’s urgent update video [RIGHT HERE.]( (He sets the stage for everything you need to know at his midterm election war room: [( #2 Keep an eye on your inbox for an email with “Election Briefing” from Jim Rickards. We’ll be sending out updates leading up to Jim’s live briefing. ^^^ Urgent Warning From Paradigm’s Publisher, Read Above ^^^ Jerome Powell Is Mad as Hell [Jeffery Tucker] JEFFREY TUCKER Dear Reader, I joined many others in doubt that Fed chairman Jerome Powell was serious about stopping inflation. Initially, it seemed like his reversal from the zero-interest rate policy — the one that unleashed this whole beast — was cosmetic. But he has kept it up. Six times this year he has bumped up the federal funds rate. And he promises there is more to come. Yes, there have been terrible consequences of this tightening for bubbly markets. Real Estate is crashing hard. We would call it a buyers’ market if there were any buyers. There seem only to be sellers but they are having little success. The curves in home sales are turning vertically downwards. In some ways, the results could be worse than in 2008 simply because the crazy boom was in such close calendar proximity to the bust. Then there’s devastation to the bond and stock markets, plus an emerging crisis in the tech sector that flew so high during lockdowns. To top it off, high inflation isn’t going anywhere. Nothing Powell is doing now is going to fix that problem in the near and medium term. We are stuck with $6.5 trillion in newly printed dollars sloshing around the world today. And that is added to by the damage done by central banks the world over. All out of panic. And yes, it is Powell’s fault. Now he is trying to reverse the damage he caused but driving rates higher and higher, virtually guaranteeing the entrenchment of stagflation. Why is he doing this? My theory: he is mad as hell. The scenario below combines what we know with new research and fills in some gaps with my own informed speculations. Back in Time Think back to the second and third quarters of 2019. Powell had already decided that he was done with zero-interest-rate policies. He started to tighten money by raising rates in the summer. He was determined to patch up the Fed’s balance sheet and offload all the junk they had bought over the previous ten years. This was his policy and he was determined to push through. He flinched a bit in the Winter of 2019 but generally had every ambition to clean up the mess. Then February 2020 came along. As best we can tell from documents that we’ve pieced together and connections we’ve made, Powell was getting phone calls and office visits. They were not only from Anthony Fauci but also from the National Security Council and FEMA, which was then itching to take over pandemic planning. They eventually did. Powell was told that the virus was much worse than a regular flu bug. It was a result of a lab leak in Wuhan, China, the one funded in part by U.S. taxpayers indirectly through a grant from the National Institutes of Health. But now this very lab has released a bioweapon. That meant that national security was at stake. We are at war, he was told, and he’d better get on board. He didn’t want to but, at the same time, it’s better when you are Fed chairman not to be accused and prosecuted for sedition. And so, he decided to go along. The long march to grotesque inflation began with lowered federal funds rates on March 5 and following, each step toward printing more extreme than the last. Powell was there, ready to buy any and all debt that Congress created. This began with $1.7 trillion a week later and another $2 trillion a month after that. It kept going on and on, for a total of nearly $10 trillion by the time things settled down. Powell was good for $6.5 trillion of that. The entire time, because he is not an idiot, he knew for sure what the results would be: inflation, pricing chaos, and financial disaster. But he went along because FEMA, the NSC, and the Department of Homeland Security told him that this was a better fate than mass death. And that’s what they believed or pretended to believe. Biden's BOMBSHELL Move That Could Destroy Your Wealth [Click here to learn more]( Joe Biden just dropped a BOMBSHELL that could send shockwaves through the U.S. economy… And deliver a DEATH BLOW to every dollar in your bank account. Thankfully, we have a “man on the inside” who’s been following this development very closely… And in [his latest MUST-SEE presentation]( he reveals exactly what Biden just did… Why every dollar you own could be in serious jeopardy… And how to protect yourself from the potential fallout. [Click here now to learn every important detail before it’s too late](. Myth vs Reality Public health officials made every effort to make the prediction come true. They put out loads of deeply flawed PCR tests, subsidized hospitals provided they declare Covid deaths and misclassified people all over the place. The National Security Council and FEMA set out to get big-tech and national media to join them in the holy crusade against the pathogen But there was a problem. As time went on, it became ever more obvious that the bug was in fact a textbook virus. It was severe in the elderly with comorbidities but had only a 0.035% infection fatality rate for anyone under the age of 70. Meanwhile, the lockdowns that the Fed’s money pumping made possible killed more people than the virus. And the vaccine that was supposed to solve all the problems didn’t work. Meanwhile, we are stuck with terrible inflation results. Powell is being blamed for it all. He came into office with the hope of going down in history as a great Fed chairman like Volcker but has been stuck with the results of policies that he never wanted. This is what accounts for his current anger and his dogged determination to strangle the inflationary beast one way or another. His powers are limited mostly to messing around with interest rates but that is what he is doing. He has come to believe that his best hope at this point is to get real interest rates into the positive territory. What does this mean? It means that there are two or three increases of 75 basis points left in his arsenal. That will get the federal funds rate to 6% to be still below the Fed’s favorite measure of inflation, personal consumption expenditures. But he might be betting that the damage is cooling off. At this point, and perhaps it will happen by Spring 2023, he will obtain a match of the PCE rate and the federal funds rate. What’s in Store? Even if Powell is successful, there is a massive ocean of money out there that needs to wash through the global economy. [chart] The velocity of money is increasing right now, and labor costs are rising too, which means that inflation is embedded. Prices have not increased enough to make business viable for anyone but the largest companies. Meanwhile, savings are plummeting and credit card debt is rising. Based on what we are seeing now, we have another year of inflation ahead of us before it drops down to 2%. Meanwhile, there will be no going back to 2019 prices in any sector. Powell knows this. He hates it but he is determined not to be blamed for it. For his part, he believes the blame lies elsewhere: with the conspirators and shadowy bunch in the national security state. With them, he is not on speaking terms. Meanwhile, the rest of us are left with stagflation as far as the eye can see. What’s important at this point is to avoid the crack-up boom that can sometimes follow these kinds of policy disasters. We should count ourselves lucky if we somehow avoid that plus dodge the bullet of a full-scale financial crisis. Regards, [Jeffrey Tucker] Jeffrey Tucker Lightning is striking right now… and you still have a chance to save your retirement during this new recession… [Click here to learn more]( Do you really think the worst of the stock market crash is over? … or is the real plummet still ahead? Whatever happens, there is good news… With an investment that’s different from stocks, bonds, or real estate… You can take advantage of lightning striking… … and you might pocket 8,788% gains. [Click here to discover how](. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. 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