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Bill Holter’s Commentary

Powerful, and so true!

The Terrifying Lessons Of COVID-19
January 6, 2022

During the past 18 months, the relationship of the American people to the government has changed radically, as the Constitution’s failure to restrain the federal and state governments and to protect personal liberty has become manifest.

We know that for the past 100 years the growth of the federal government has been exponential. And we know that while formally the Constitution still exists, functionally it has failed miserably, as the deterioration of personal liberty since the spring of 2020 has been as grave as the losses of freedom in the past 100 years.

I am using 100 years as a benchmark because it marks the completion of the takeover of the federal government by the Theodore Roosevelt Republicans and the Woodrow Wilson Democrats who collectively comprised the Progressive movement. This movement brought us in a short 15 years the useless World War I, the destructive popular election of senators, the corrupt Federal Reserve, the theft of property called the income tax and the unconstitutional administrative state.

The war killed millions for naught. The popular election of senators undermined state sovereignty. The Federal Reserve destroyed economic freedom. The federal income tax legalized theft. And the administrative state created an unconstitutional fourth branch of government “experts” answerable to no one.

Yet the iron fist of totalitarian government visited upon the American people in the name of COVID-19 has struck at the heart of the Constitution and landed heavy blows on average Americans in far more acute and direct ways.

Here is the backstory.

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Bill Holter’s Commentary

More insider trading? Do you think the game might be rigged?

Outgoing Fed Vice Chair Quietly Covered Up Suspicious Trades Made During March 2020 Market Rout
January 6, 2022

Several months have passed since FOMC members Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan abandoned their posts following a trading scandal that raised questions about senior Fed officials.

Now, Richard Clarida, who is already on his way out the door at the Fed to make room for Biden appointee Lael Brainard, has become the latest senior Fed official to find his way into the ethics officials’ rifle sights.

Because according to the NYT, Bloomberg and a handful of other reports, Clarida sold at least $1M of shares in a US-traded stock fund in February 2020 before buying a similar amount of the same fund a few days later, on the eve of a major Fed policy announcement that would trigger an 18-month-plus torrid rally in stocks, bonds and other securities.

Notably, while Clarida’s purchase was previously disclosed and reported by Bloomberg News back in October, the initial sale of the fund shares wasn’t disclosed until last month, when an amended financial-disclosure form was finally filed with the government. Notably, this amended form was filed several weeks after the backlash to Clarida’s colleagues’ trades had died down.

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