Yellen Buried Powell: Insane Testimony!

Her Committee Appearance
Tells You Everything

 

 

Janet Yellen, Treasury Secretary, was previously the Chairman of the Federal Reserve and she gave testimony at the House Financial Stability Committee on Tuesday. I watched the entire hours-long broadcast to understand what the Biden Administration is focusing on, and I think the most important takes are that Yellen (in other words, Biden) wants rate cuts.

On Sunday, Jerome Powell went on 60 Minutes to make his claims that the Federal Reserve must be careful before beginning the easing cycle, while Yellen used leverage to scare the American public about the stability of commercial real estate and regional banks that own the debt tied to them.

She started with cryptocurrencies, where the Biden administration is looking to ramp up regulation and rules by a lot. This makes sense, not because the American public is the problem, but because China, Russia, Iran and others are using it to peddle influence and fund militant and rogue terrorist groups.

Janet Yellen blamed Trump’s deregulation for the weakness of regional banks, and I believe that she wanted to move Wall Street towards lower interest rates.

Remember, if the Treasury department needs to raise trillions in new bond issuance, it behooves Washington to borrow it at lower yields.

The CBO (Congressional Budget Office) projects the following:

“CBO has projected gross federal debt through 2053, assuming that existing laws governing taxes and spending generally remain unchanged. In CBO’s projections, gross federal debt amounts to 124 percent of gross domestic product (GDP) at the end of fiscal year 2023 and 129 percent by the end of 2033. By the end of 2053, such debt reaches 192 percent of GDP.”


Courtesy: pgpf.org

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    President Trump rightfully put China in their place with tariffs, and President Biden didn’t change any of them and added even more!

    De-globalization is the process by which the West ceases to overlook IP theft and other primitive behaviors, and this is where Elon Musk comes into the picture.

    Tesla’s Model 3 Rear-Wheel Drive and Long-Range vehicles lost up to $7,500 federal tax credit under the Inflation Reduction Act.

    The Treasury issued guidelines detailing new battery sourcing restrictions, and I am telling you that anyone who believes that the most valuable nickel in the world isn’t the one that the U.S. will have to mine for its own needs, doesn’t grasp the type of drama and restriction and controls that nations will put on each other!

    China has already made it abundantly clear that the Rare Earth Elements market it nearly monopolized is just the beginning.

    I own one NICKEL INVESTMENT – in 2020, I told you, I pounded the table, I backed up the truck, I basically shouted from the rooftops that uranium was going to be the next major metal to surge. Now, my biggest position has rallied by over 600% and I am announcing today that nickel is in a better situation, a more perfect set up than uranium was!

    You watch what happens with nickel companies that have good projects on U.S. soil, when Russia and China tighten their stance on exports.

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    PortfolioWealthGlobal.com

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