Federal Reserve Chairman Jerome Powell Signed the Dollar’s Death Warrant

Federal Reserve, Wiki
image_pdfimage_print
President Trump remarked that Federal Reserve Chairman Jerome Powell has done the right thing after the Fed cut interest rates to zero, launched unlimited quantitative easing (money creation), has committed to buy $1-trillion in Treasury Bonds and mortgage-backed securities, and municipal bonds. All this adds up to a death warrant for the American economy. -GEG

It finally happened.

After the Fed cut rates to zero, launched unlimited QE, is on pace to buy $1 trillion in Treasurys and MBS in 2 weeks, backstopped pretty much every asset class and announced it would purchase bonds, loans, commercial MBS,munis as well as the LQD ETF, Trump is finally very happy with Fed Chair Jerome Powell, ironically on the same day Powell signed the dollar’s death warrant.

Here’s what Trump said on Powell.

“I am happy with him. I really think he’s caught up and he’s done the right thing. And I think ultimately we will be rewarded because of the decision he made over the last — he’s really stepped up over the last week.”

“I called him today and I said ‘Jerome, good job.”

“He was a little bit slower than what I’d have liked, in the sense of what he was doing.”

“But today I called up Jerome Powell and I said ‘Jerome you’ve done a really good job.’ I was proud of him. It took courage. Ultimately you’re going to see the fruits — he’s not finished. He’s got other arrows in the quiver.”

“I’m very happy with the job he did.”

For those who missed it, here is how Jerome Powell finally managed to get Trump to crack a smile:

  • Today, the FOMC expanded its large scale asset purchase program by promising to purchase ‘in the amounts needed.’ One week ago, the FOMC had said it would purchase $500bn of Treasury securities and at least $200bn of agency MBS; Half of that amount was fully purchases within a week.
  • The FOMC also announced that the agency MBS purchases will include agency commercial MBS.
  • The Fed also made CPFF more generous in terms of pricing and opened CPFF and MMLF to a wider set of assets.
  • The Board of Governors relaunched the Term Asset-Backed Securities Loan Facility (TALF), providing loans in exchange for ABS.
  • The Fed also announced it would buy corporate bonds and loans in both the primary and secondary markets.
  • The Fed also said it expected to announce soon the establishment of a Main Street Business Lending Program to support eligible small-and-medium sized businesses.

Read full article here…

Visit our Classified ads.

Check out our Classified ads at the bottom of this page.

Recent stories & commentary

Money

3.3-Million Americans Just Filed for Unemployment Benefits

March 27, 2020 ZeroHedge 0

Approximately one-third of the entire population of the globe now is under some sort of a lockdown order. A few are able to work at home, but the vast majority are forcibly unemployed. Many small businesses will not survive the folly of their leaders, and the number of homeless will drastically rise.

Classifieds

For classified advertising rates and terms, click here. The appearance of ads on this site does not signify endorsement by the publisher. We do not attempt to verify the accuracy of statements made therein or vouch for the integrity of advertisers. However, we will investigate complaints from readers and remove any message we find to be misleading or that promotes anything fraudulent, illegal, or unethical.

Health

JWLABS – Building fine Rife frequency instruments in the USA since 1987.
We offer customer support and an exceptional warranty. Learn why all households and clinics should employ this device. Call us at 888-891-1122 to discuss the many benefits.   www.rifemachine.com


The Heavenly Handbook of Health. “WOW! U want FeedBack? So far I am floored. If I’ve learned anything about you since we met; this book has the potential to be a blockbuster.” Read 18pg Teaser @ HeavenlyHandbookofHealth.com Simple, incredible, affordable health – any age!


Health with space-age technology and Quantum physics. For people and all animals. No medication! Available world wide! Contact us at [email protected]. For principals and testimonials please visit our website. www.Healthytherapy.com.


Dentistry ruins health by mercury fillings, root canals, implants, fluoride, pulling wisdom teeth, tooth extraction causing cavitations, ignoring cranial bones, pulling teeth for orthodontia, ignoring acidity that causes bone loss, etc. (206) 623-4674 or www.toothwisdom.info.


G. Edward Griffin’s blood pressure dropped to healthy levels and stayed there after using Cardio Miracle, a nitric-oxide booster containing a blend of ingredients that supports the body’s natural defense against heart disease, atherosclerosis, cancer, diabetes, Alzheimers, and more. If you are over 40, you really should check this out.


Dental & Vision Insurance – Not a discount program. Affordable rates as low as $17.90 monthly. Large Nationwide Network.100% coverage for frequently used dental services. Call 800-229-0297 M-F 8am-4:30pm EST.


For Sale

Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)

 


Ten Days at Jekyll Island, a novel by Patrea Patrick, tells the true story of a secret meeting held in November of 1910 on a privately owned resort island, the outcome of which drastically changed the world. It was at this meeting that a banking cartel was forged; a cartel that, three years later, would be issued a government charter to do business as The United States Federal Reserve System. You will discover why secrecy was essential. Based on historical documentation from The Creature from Jekyll Island by G. Edward Griffin. (More)

 


2
Leave a Reply

avatar
2 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
2 Comment authors
Lynn A GoldhammerBoomer Lady Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Boomer Lady
Guest
Boomer Lady

This editorial is difficult to follow because of all the titles used. What do these mean: FOMC, MBS, CPFF, MMLF, TALF, ABS, primary and secondary markets. Many people reading this article aren’t financial wizards and too bad this article couldn’t have been in more plain language.

Lynn A Goldhammer
Guest
Lynn A Goldhammer

Trump wants to return to the gold standard. Maybe he’s giving all this money away knowing it will be worthless anyway in the coming years… Start buying precious metals…….