Economic History · Federal Government · investing · Uncategorized

Break Their Fall

The older I get, the less enjoyable or exciting any “black pill” realization becomes. It might speak to the sad state of affairs currently showcased, but in reality a cosmic manifestation of elitist gall is the culprit. Rather than hiding their malevolence, the dominant players of our time have settled into an open, unapologetic method of communicating intent. Thus we as observers are left to endorse rather blasé attitudes in the face of searing rain, at once feeling the discomfort but taking solace in the fact that its arrival could be predicted from a long ways off.

A perfect example of this lies in the wondrous implications of the Dodd-Frank legislation signed by President Obama in 2013. The landmark legislation was celebrated for supposedly raining in the excesses of Wall Street (a highly dubious claim), and is regularly cited by leftists to show the successes of 44. At the same time, the mammoth bill put forward some rather interesting features that drop hints about what is to come.

In reaction to the controversy over government-funded bailouts of banks, the legislation permits such institutions to maintain solvency by pursuing a strategy of “bail-ins,” an option which involves seizure of a large percentage of customer assets to keep the firm afloat. Due to protections bolstering derivatives on the totem pole of importance, users with regular checking and savings accounts might well be subjected to the experience of people in Cyprus, who lost tremendously after a financial crisis on the island.

What’s really lamentable about the whole matter concerns how little attention it has received. The stock market continues to return stimulus-induced profits, Congress is just barely approaching a COVID deal after months of haggling, and an incompetent geriatric is poised to become president in January. But this bit of legal scribbling, which stands to produce disastrous effects in the very real future, is remanded to the likes of The Epoch Times, an alleged “fake news” paper.

I suppose the natural response is to dive deeper into Bitcoin, yet even on that front the waters are becoming murkier. Mnuchin the Moocher has taken first blood, and I would not expect Yellen to be much different. The steady swill of power and corporate greed seems to overtake everyone, no matter the designs of their sacred oaths and professed beliefs.

Perhaps we should buy land.

Culturalism · investing · Personal Finance

Goldman Takes Third Blood

In my last video, I warned folks about Wall Street’s likely attempt to weaponize the Coronavirus panic in service of their financial interests. I also noted that Goldman Sachs has cultivated such a close relationship with the federal government that it managed to completely destroy a competitor (Lehman Brothers) during the bailout negotiations of 2008.

But there is more. As markets reel from the virus’ impact, our lovely friends have released an updated report on U.S. GDP for the second quarter, suggesting an upcoming 24 percent drop.

How convenient. Sounds like a great way to further tank the economy, allowing the Goldmanites freedom to make a killing on shorting strategies, plus accumulate dirt cheap shares.

Now hold on, the skeptic might say, what happens if the market declines so Goldman Sachs is also in trouble?

It’s quite simple. They just give a ring to the Treasury Department, led by none other than Steven Mnuchin, the retired Chief Information Officer for Goldman.

If you watch your 401k undergo further decline in the following weeks, just remember who is walking in “Fields of Gold.”