What Was Mnuchin Thinking? – The Atlantic – With Commentary

Our Thoughts – We are admitted cynics. We also know the order or oikonomia of things in the world of finance and economics. If you haven’t already done so, grab yourself a copy of ‘Secrets of the Temple – How the Fed Runs the Country’ by William Greider. A long, but absolutely eye-opening read. If you really want to understand what is going on, that is the one you want to get. All of this seemingly nonsensical goings-on will make at least some sense after you’re done. In the meantime, we’ll lay it out. The not-so-USFed as we like to call it does run the country as Greider intimates. Don’t let the fact that the President nominates the Chair and Senate confirms said Chair means anything in terms of checks and balances. There are none. It is why Ron Paul’s very logical pleas for an audit of the ‘fed’ fell on deaf ears. The fed couldn’t be compelled to submit to an audit under existing law and everyone knew it. Ron Paul was a genius though in that he used the Fed's responses to place more than reasonable doubt in the minds of many, many Americans that this so-called federal bank was really autonomous – and up to no good. So far so good?

So, the fed runs the country. The currency the Treasury uses and prints for that matter is nothing more than debt instruments of the not-so-USFed. Pull a bill from your wallet and there’s the proof. Right at the top. Hidden in plain sight. Who owns the ‘fed’? It’s member banks. How can we say that? Because every member bank has varying shares of preferred stock in the not-so-USFed. Those preferred shares pay 6% in perpetuity. Here’s the source for that tidbit – right from the horse’s mouth. It’s wordy, but the information is there.

Federal Reserve Act – Section 7

This means that the Goldman Sachs/JP Morgan etc cartel of crooked banks owns the central bank. The Treasury might get a few bucks here and there (see above article – Section 7), but the ‘fed’ runs the entire show. So what does this have to do with Discourteous Steve Mnuchin and his insipid remarks about the stability of the financial system? We believe that option 3 below, as written by the Atlantic is probably the closest to the truth. #1 is idiotic. A middle school in the halls of power? While some of these guys act like middle-schoolers, we’re not buying it. #2 – animal spirits? Seriously? Stricken from the record. And even if #2 were true are ‘animal spirits’ going to listen to Discourteous Steve? The markets sure didn’t listen to Haughty Hank Paulson back in 2008. What’s changed?

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Gary Anderson 1 year ago Contributor's comment

Interesting article. Back in the days of the Great Depression, Will Roger's said banks must be broke (overleveraged, vulnerable), if interest rates could not go up a percent. Now the financial markets go berserk at a quarter percent raise. How vulnerable must banks be now?