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The financial system has been on the verge of collapse since September 2019 when we started Repos and QE. And since then it has only got worse. The coronavirus hit us at a time when the banking system was almost down and out.
We had enough problems saving the banks. But now we must save big corporations, small companies, individuals, local municipalities and states, the Federal State and this on top of rescuing a financial system which is deteriorating by the day. The whole system is leaking like a sieve and we are struggling to keep it all afloat.
Fortunately we have printing presses and that helps to keep it all going but only just. Our big fear is that the market will realise that all the money we are printing is worthless. And it is of course but we can’t tell anyone. But if the world wakes up to this one day soon, the financial system could implode in a matter of days. And we would be totally helpless to stop it………”
Jesus Christ I can't imagine how far deep down the rabbit hole you've gone to believe that is a draft of the prepared remarks of the Fed Reserve Chair to G7. Apparently he has even taken to spelling "realise" like a Brit.
If you weren't satisfied with how little you were taken seriously around here before you've definitely reached for the brass ring of credibility loss.
Yeah people, I know this statement didn't come from Powell. That's not the point. The point is that this is what he would say if he were capable of being honest with himself and others.
Yeah people, I know this statement didn't come from Powell. That's not the point. The point is that this is what he would say if he were capable of being honest with himself and others.
Really - are you a mind reader? What makes you think this is true - the markets sure don't think so.
Yeah people, I know this statement didn't come from Powell. That's not the point. The point is that this is what he would say if he were capable of being honest with himself and others.
Yeah people, I know this statement didn't come from Powell. That's not the point. The point is that this is what he would say if he were capable of being honest with himself and others.
I was thinking you people would have got the joke.
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