Tom Luongo with more on his hypothesis that the Fed is taking on the Davos crowd. From Tom Luongo at tomluongo.com:
You may ask yourself, “What is that beautiful house?”
You may ask yourself, “Where does that highway go to?”
And you may ask yourself, “Am I right, am I wrong?”
And you may say to yourself, “My God, what have I done?”
— Talking Heads, “Once in a Lifetime”
In the face of the Fed’s intransigent hawkishness we are now on the verge of exposing the worst lies of two generations of people in power. I’ve maintained for more than a year now that the global oligarchy known here as The Davos Crowd thought they’d run the table on the US and the UK with COVID-19.
The various bailout packages, Pelosi’s CARES Act and pending legislation — Build Back Better, etc. — were supposed to destroy the fiscal position of the US once and for all. These were political blackmail to force the Fed not to raise rates when it clearly needed to.
That Pelosi et.al. were only able to pass neutered versions of these bills is a sign that powerful forces behind the scenes are not down with this plan.
“A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”
Woodrow Wilson