Posts Categorized: In The News

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Bill Holter’s Commentary

The Fed is now careening from wall to wall like an out of control bobsled…

Powell Just Launched $2 Trillion In “Heat-Seeking Missiles”: Zoltan Explains How The Fed Started The Next Repo Crisis
June 21, 2021

Last week, amid the fire and brimstone surrounding the market’s shocked response to the Fed’s unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key “administered” rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.

repo corridor_0

What does this mean? As Curvature Securities repo guru, Scott Skyrm wrote last week, “clearly the Fed intends to move overnight rates above zero and drain the RRP facility of cash.” Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.

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Bill Holter’s Commnetary

Just wait until the moratorium on foreclosures and evictions is lifted…

US Food Bank Lines May Reemerge As Millions Set To Lose Unemployment Benefits
June 16, 2021

US food banks in Republican states are preparing for a massive demand surge in food aid this summer as 24 GOP-led states are set to end federal unemployment assistance before they’re set to expire on Sept. 6.

The benefits set to lapse include the additional $300 weekly federal supplement and other Pandemic Unemployment Assistance programs that support low-income households. The policies have also contributed to a historic labor shortage after millions of people received more money via government benefits to staying at home than actually work.

With local economies reopening up across the country, here are states that are pulling pandemic benefits early so that millions of people can reenter the labor market:

Jun. 19: Alabama, Idaho, Indiana, Nebraska, New Hampshire, North Dakota, West Virginia, Wyoming

Jun. 26: Arkansas, Florida, Georgia, Ohio, South Carolina, South Dakota, Texas

Jun. 27: Montana, Oklahoma, Utah

Jul. 3: Tennessee

Jul. 10: Arizona

According to JPMorgan, cutting benefits is “tied to politics, not economics.”

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Bill Holter’s Commentary

From a man who obviously knows from experience what he speaks of…

Posted by & filed under In The News.

Bill Holter’s Commentary

Broke and woke at the same time?

Federal Reserve Tells Employees To Avoid ‘Biased Terms’ Like ‘Founding Fathers’
June 12, 2021

EXCLUSIVE: The Federal Reserve has instructed employees to adopt “bias-free language” and avoid using biased terms like “Founding Fathers,” according to an internal webpage obtained by Fox News.

The Federal Reserve’s Board of Governors issued the guidance for all employees nationwide on April 29, a former Fed staffer with knowledge of the matter told Fox News.

“Bias-free language recognizes diversity and avoids stereotyping, demeaning, or excluding people on the basis of gender, race, ethnic group, religion, age, ability/disability, or sexual orientation,” the guidance states.

“Try to avoid words and phrases that may be considered offensive, pejorative, or prejudiced (whether consciously or unconsciously), as these can distract your audience from the ideas/information you’re trying to convey,” it continues.

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Bill Holter’s Commentary

…and now the National Debt is 129% of GDP. In the good old days, any country with a debt to GDP ratio over 100% was considered a banana republic, today it is just business as usual!

Our Greatest National Crisis? Denying The Great Debt Crisis
June 10, 2021

Remember the 2012 Republican National Convention? Back then, the national debt problem was so fundamental to the GOP’s platform that the convention’s set design showcased a debt clock ticking away in real-time, edging closer to $16 trillion.

Vice presidential nominee Paul Ryan, a conservative tax and budget expert, championed policies that slowed the debt’s alarming rate of acceleration toward what he deemed a dangerous fiscal cliff, which was not a priority for his opponent.

When Barack Obama was elected in 2008, the debt was $10 trillion. After fighting the Great Recession, it nearly doubled to $19.5 trillion by the end of his second term.

But the next Republican president didn’t do much better. At the end of 2020, the debt was $26.9 trillion. Today, according to the U.S. Debt Clock, it is $28.3 trillion.

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Bill Holter’s Commentary

You will most likely be hearing a lot over coming weeks and months re “NAKED SHORTING”!

Let the Apes Have Wall Street
June 11, 2021

On CNBC’s Fast Money last week, anchor Melissa Lee appeared to mention the unmentionable. She was talking with Tim Seymour, CEO of Seymour Asset Management, who made offhand mention of the hedge funds shorting now-infamous stocks like AMC and GameStop. “Look, there are a lot of short sellers out there who have been borrowing stock they didn’t have,” Seymour said.

“Naked shorts, yeah,” said Lee.

You could almost hear a reverse record-scratch over the airwaves. Did a CNBC anchor really say that out loud?

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Bill Holter’s Commnetary

What will our world look like once the moratorium on foreclosures and evictions is lifted?

Supreme Court Asked to Halt CDC Eviction Moratorium
June 6, 2021

Alabama and Georgia real estate agents have asked the Supreme Court to block a federal moratorium on evictions that was imposed last year by the Centers for Disease Control and Prevention (CDC) amid the pandemic.

Congress enacted a nationwide moratorium on evictions and extended its life through Jan. 31, 2021. The Atlanta-based CDC, which is part of the U.S. Department of Health and Human Services, then imposed its own moratorium at the behest of then-President Donald Trump, the current iteration of which is set to run out on June 30. The theory was that uprooting tenants would spread the virus, which now appears to be in decline. Violators could face criminal penalties and six-figure fines.

The real estate agents argue in their emergency application in Alabama Association of Realtors v. Department of Health and Human Services, filed on June 3, that the CDC’s moratorium “shifted the economic burdens of the pandemic from renters to landlords.”

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Bill Holter’s Commentary

This is exactly what Jim said several years ago.

Putin Warns U.S. May Regret Using Dollar as Sanctions Weapon
June 5, 2021

President Vladimir Putin said Russia doesn’t want to stop using the dollar as he accused the U.S. of exploiting the currency’s dominance for sanctions and warned the policy may rebound on Washington.

Russia has to adopt other payment methods because the U.S. “uses its national currency for various kinds of sanctions,” Putin said late Friday in St. Petersburg at a videoconference with representatives of international media organizations. “We don’t do this deliberately, we are forced to do it.”

Settlements in national currencies with other countries in areas such as defense sales and reductions in foreign-exchange reserves held in dollars eventually will damage the U.S. as the greenback’s dominance declines, Putin said. “Why do U.S. political authorities do this? They’re sawing the branch on which they sit,” he said.

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Bill Holter’s Commentary

Money supply has exploded while velocity crashed to all time lows. What do you think things will look like once the mass exodus from dollars begins in earnest and velocity lifts off? Please note the chart of gold during the Weimar experience…

Charts For A Crazy World: Hot Money Spawns Weird Trends
June 6, 2021

This is a time of almost supernaturally-easy money. US financial conditions, in fact, have never been this accommodative, which is why junk bonds, CLOs, NTFs, cryptos, and meme stocks have been able to attract so much hot money.

US-financial-conditions

But the velocity of money – i.e., how often a given dollar is spent in a given span of time – has cratered. Consumers, it seems, aren’t nearly as enthusiastic as speculators.

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Bill Holter’s Commentary

Right or wrong, a very interesting read!

The Fauci Files, The Wuflu And The War To Come
June 2, 2021

Isn’t is amazing how quickly things seem to change when it’s in the interest of those that think they run the world? For years we’ve been trying to get access to Hillary Clinton’s missing e-mails as Secretary of State but to no avail. However, at the most opportune time in the collapsing COVID story, Dr. Anthony Fauci’s emails are uncovered and broadcast to the world.

The same mechanism, FOIA, that Hillary has stonewalled us on for six years uncovers Fauci’s emails in six weeks?

Doesn’t that strike you as just the slightest bit odd?

Fauci was the hero bureaucrat facing down the evil and ignorant President Trump over COVID-19. He became a national celebrity playing down treatments like Hydroxychloroquine and Ivermectin, flip-flopped on wearing masks and running cover for a corrupt WHO/CDC while whitewashing his own involvement in COVID’s origin.

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