More and More, Powell Comes Across As A Dickhead Dillitante

Be careful about what you accept as gospel.


https://www.zerohedge.com/markets/w...feds-policy-approach-senate-banking-committee

 

He is up for re-appointment- or not- next February.

I wonder if that influences him in any way.

 

Probably. "Loose money from the Fed"... is something all (irresponsible) governments want. It provides the "cover" for their immoral deficit spending/theft.

 

Ten trillion here and ten trillion there and pretty soon you are talking real money.

 

Used to be, a "$Billion here and there" was real money. My, how times have changed.

Remember the old TV show, "The Millionaire"? If you had that today, you'd have "pocket money"... at least for now.

 

That's why we need to make Dogecoin the reserve currency.

What could go wrong there?

 

M2 used to track with inflation, or at least that’s what I was taught 20 years ago. Then all of the sudden it didn’t. It’s a remarkable correlation to when the Fed was given its second mandate. And presto change-o money changed and started acting in ways we didn’t expect for a very long period of time.

I’m not saying I’m right - and I also pose automation and technology has a price stabilizing factor it - but no one can explain the below chart.



There’s noise Biden is looking at a replacement but the Fed is being ran well so I don’t think it’s too much more than proper diligence in the off chance Powell wants out.

 

All of that crypto nonsense will be done when social security starts issuing digital wallets.

 

Along with the adoption of a digital euro or even talk of it.