Trump’s Mobsters in the White House Deflect Blame for Falling Market
By David Haggith
TheGreatRecession.info
December 19, 2018
Before Trump was even inaugurated, I said he was clearly draining the swamp directly into the White House. That was obvious as soon as he nominated a Goldman-Sachs roster to fill all the financial cabinet positions. Some wishfully said he was playing 4-D chess by keeping his enemies close. I called baloney. He was simply being Sached. One of those from the Goldman roster was Steven Mnuchin.
Today we got a prime example of how the mobsters are going to spin the current market train wreck for their own gain … and they will probably succeed. Munchkin, as I prefer to call him, because he lives on Goldman’s sacks of gold, stolen pavers from the yellow-brick road …
“… has weighed and measured the recent destruction that put the Dow Jones Industrial Average on track for its worst December since 1931, and he appears to have drawn his own conclusions as to the impetus. Mnuchin during a Tuesday interview with Bloomberg News in Washington said that the effect of the financial-crisis-era Volcker rule and high-frequency trading have combined to sap liquidity in the market and insert an unprecedented measure of volatility in assets. (MarketWatch)
Yeah, that makes sense! It couldn’t possibly be that the Federal Reserve, by extracting $50 billion from the nation’s money supply every month, is draining liquidity. No, draining tens of billions of dollars out of official money supply couldn’t possibly be the liquidity drain. It MUST be the Volcker rule — a banking regulation that Bankster Munchkin hates, that is the problem.
WHAT A SHAMELESS CROOK! Naturally, he isn’t going to blame himself for the horrible tax breaks he helped engineer that are causing the federal government to suck up all available credit in order to fund the gap. Nor is he going to blame his squiddish friends at the Fed for sucking money out of the economy like the Titanic sucked water out of the sea and into its own bilge. Instead, the whole problem is that we kept a tiny bit or regulation inside of the shell that’s left of the new banking regulations. If only we had stripped that out, too, the banksters could be saving us now. We tied their hands.
The Volcker rule was put in place after the last financial crisis to limit banks from gambling with their depositors money (technically it was to keep them from gambling their own money, but try to find the difference in terms of where it leaves your security). Sure that’s why the stock market is now crashing. It’s because banks cannot gamble as much as they would like to, although they still gamble plenty.
Never mind that the cause-and-effect of the Fed’s Great Recovery Rewind tracks perfectly with the breakup action of the stock market, while Munchkin cannot show any evidence that connects the autumn failure of the stock market to the Volcker rule, nor the previous nose-dive in January through February. The Volcker rule did not kick in on January 26th when the stock market took its first big jolt. What happened then was the Fed doubled its rewind speed. The Volcker rule did not change this autumn when the market again fell to pieces. What happened then was the Fed’s rewind finally got up to full speed. He makes this completely absurd connection because he hates the Volcker rule and is looking to use the stock market’s failure as a way to get rid of the rule. He doesn’t even attempt to connect the dots. Just proclaim it, and it’s a new fact to feed the mainstream media. From the media’s point of view, it must be a fact because they got it straight from the resident expert.
I have always said the reason I predict the timing of events like these and then make a big noise about it when the they happen exactly as predicted is to stand against nonsense like this. I KNOW that the banksters will leap in when things crash to find anything to blame but themselves. They will say, “You couldn’t see something like this coming.” Yes, you could, and how it would come and when was recorded here in advance. They will say, this is due to this cause particular cause, but it was recorded here in advance that a certain other cause that was already scheduled by the Fed would be the thing that would cause this event at this time. So, who are you going to believe?
Sadly, the answer is that most people will believe the person with the big reputation.
However, if you can predict the effect that will precipitate from a particular cause; then the cause happens and the effect immediately ensues, there ought to be good reason for people to listen to that explanation. The worst part is that, if they do not listen, then the cycle will repeat … again (for this is not just the second lap we are about to go into).
The Rest…HERE
