I followed him for a bit a few years ago. Despite his rapidly aging appearance, he doesn't strike me as someone with an in depth understanding of the whole financial machine. Some people have 20 years experience. Others have 1 years experience repeated 20 times. He seems to have about 5 years experience repeated 4 times. At the time I followed him, I didn't read him as an intentional shill. I read him as a partially informed individual who had good intentions. He has the feel of a Wall street guy, but not the feel of a guy who sits in a nice office. I don't see him as a guy who pulls out a black card when he entertains clients. I see him as a cubicle slave that occasionally catches wind of a piece of a story & tries to fill in the blanks as best he can. He probably works hard. He probably doesn't have a lot of good connections. He probably means well. I'm not going to bet the farm on one of his recommendations, but I would listen to what he has to say & keep my eyes open to judge how much of it may have been based on something he overheard from an informed source. He's probably one of the smaller fish that survives in the shark tank.
Last edited by SilverPalm; 07-15-2022 at 10:57 PM.
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
I just finished watching that clip. His style remains the same. He's always been rather passionate in his presentations.
In the related vids section, I found our old friend Daniella interviewing someone else who is pushing a related story that the USD needs to die, in order for the people to beg for the introduction of digital currencies. https://www.youtube.com/watch?v=c4wX22R60a8
What they say, seems possible. It's also possible that this is part of a fear campaign that will shake out weak hands before the Fed flips again & blows more air into the bubble.
I'm pretty sure that CBDC are part of the future plans. I do not know the time line for imposing them. I'm pretty sure that the USD will eventually crash, but I don't know the time line on that either. All fiat currencies have always failed eventually. In the case of the USD, what was a penny's worth of gold in 1933 was a dollar's worth of gold a couple of years ago. The debasement was already well on it's way in August of 1971. After tricky Dick closed the window, the trend was allowed to accelerate. I was surprised that it all did not crash already, but the complex system of smoke & mirrors that supports the USD has been more effective than I had expected. How much longer will I continue to be surprised? I don't know. When will it crash? This week? This year? This decade? I don't know.
Right now, PMs aside, I'm 70% in cash. That basically means that I'm 70% betting that the markets will drop & 30% betting that the Fed will go dovish again soon. But those are just my silly perceptions. DYODD I could be further off base than Greg. Heck, I could be further off base than Andrew Maguire. Lynetter Zang, probably not. If I was that far off, I'd be pan handling by now.
Food prices are up. That's real. Fuel prices are up. That's real. I'm reading about food processing plants burning, or being otherwise rendered inoperative. That may be real or it may be just stories that someone was paid to write. I haven't seen the burned places myself. The stories of the Dutch farmers are right in line with that though. Food/fuel shortages are a powerful tool for creating unrest. Desperate people do desperate things, like begging for help from places that are not the best. If I were going to try to impose a new financial system on a country, a food/fuel crisis might be considered an effective tool for the job. Obviously, it would also be horribly unjust, but that sort of thing only deters people who have ethics.
Last edited by SilverPalm; 07-15-2022 at 11:34 PM.
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
I just heard a blurb on the radio about the recession won't be until next year. It seems to take a good solid year to slow this economy down, it's big.