When Ben Bernanke mentioned that the Federal Reserve’s political independence helps it make “tough but necessary decisions” for the benefit of the country’s long-term prospects, I nearly burst into uncontrollable laughter.
Is there no process of fact-checking by publishers before they release this crap to the public domain? Bernanke was the one person more instrumental than anyone else in making sure that America’s wealthiest – the top 10% of the population, who own a disproportionate 90% of all stock market equity – enjoy the juicy boom.
The FED has used everything in its power to ensure that the markets surge higher.
Meanwhile, they have done nothing to help the working class. What the general population needs is NORMAL interest rates, so that Washington will think twice, three times – even four times – before they squander more tax dollars on their abysmal projects.
One of the best predictive economic indicators is currently melting down. With the Federal Reserve pausing reduction of the balance sheet, after ONLY 10% of it has been decreased – though they targeted 80% shrinkage – Portfolio Wealth Global is certain that the FED knows it has lost control.
The rich also recognize this so they’ll have no problem betting against the bank’s inability to counter a global economic slowdown. Remember, though the wealthy are the prime beneficiaries of this low interest rates policy, they aren’t the originators of it. They can be in the camp of the FED, yet alter their stance just as easily.
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Smart money is only focused on one thing: profiting off any situation. If the Federal Reserve is out of tools – and it is – and if central banks now risk appearing unpopular and incapable of navigating the waters, they’ll bet AGAINST the FED.
Believe me, Smart Money smells blood just as much as the next guy. You can already see that gold is holding above $1,300, despite an 8-day dollar rally. The billionaires aren’t convinced by this USD surge, rather, they’re certain that banks have lost their momentum and are out of ammunition.
This week, many important economic data points are going to be released.
Remember, the markets are being manipulated.
I see many ideas floated by populist politicians to raise taxes on the rich. All that does is pump more money to Washington. What the U.S. economy really needs is higher interest rates, so that savers can finally enjoy a yield for their hard-earned savings. They need higher interest rates so that CEOs won’t keep borrowing cheap debt to buy back shares.
Higher interest rates are equivalent to a gold standard of sorts, since they limit deficit spending and keep people in check.
When an idea costs 4%-6% per year to execute, due to interest payments, you consider the consequences of it. When it costs nothing, you don’t.
In our opinion, central banks have proven deficient in their willingness to do the right thing; instead, they prefer to turn investors into addicts of low interest rates.
Judgment Day is coming for this fake-money experiment, and we believe that major changes are on the horizon.
Research Partner, PortfolioWealthGlobal.com
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Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!