There’s something happening here
But what it is ain’t exactly clear
Buffalo Springfield

By Jim Quinn of TheBurningPlatform.com - December 16, 2023

Something is not right, and the drastically divergent messages from Powell and his cronies at the Fed over the last month and a half con firm this suspicion. It does remind me of September 2019 when the repo market revealed the underlying mechanisms within the financial system were malfunctioning and were about to lead to another massive financial crisis. Powell restarted QE and “luckily” the covid scamdemic was rolled out, so Powell and and our corrupt political class could pump trillions into the system and keep it alive.

Powell and his fellow tough guys at the Fed had increased rates to 5.3% and have talked tough about keeping rates up until inflation got back to their 2% target. With GDP supposedly accelerating at 5.2%, unemployment still near all-time lows, and corporate profits still booming, there should be no fear about rates being too high by Powell and his sycophants. But suddenly this week Powell and these economic “rocket scientists” now are saying they will be cutting rates soon and more than anyone expected.

The Fed Since November 1st:

1. Nov. 1: Getting inflation to 2% “has a long way to go”

2. Nov. 21: “No indication of rate cuts at last meeting”

3. Dec. 1: Talks about rate cuts are “premature”

4. Dec. 1: “We are prepared to tighten policy further” if needed

5. Dec. 13: Rates…

- The Kobeissi Letter (@KobeissiLetter) December 15, 2023

The stock market exploded to all-time highs and interest rates plummeted. This seems odd, when more than half the country is struggling to put food on the table. It’s almost as if Powell and his pals know something really bad is about to happen and want to front run the event, or, like September 2019, they see something terribly wrong within the financial system and are trying to fix it before it blows up. We do know the Too Big To Trust Wall Street banks have close to $700 billion of unrealized losses on their books due to interest rates hitting 16 year highs. We also know these banks have been increasingly utilizing the Fed’s emergency facility every day.

All it would take is . . .

[SNIP]

*************************************************************************