Posted on 06/17/2022 8:20:40 AM PDT by BusterDog
JUST IN – Fed Chair Powell: "Rapid changes are taking place in the global monetary system that may affect the international role of the dollar." 👀— Bitcoin Magazine (@BitcoinMagazine) June 17, 2022
(Excerpt) Read more at twitter.com ...
Taiwan, Israel...
Powell.... “Gee, fellas. Things are getting out of hand. Things we could not expect because they were caused by Trump. We did everything - stopped pipelines, killed air travel, killed consumer commerce with Covid Madness (aka Reefer Madness). We stopped trucking, we stopped port operations, and we stopped any thoughts about letting petroleum even exist in the future. We stopped it all. But it’s not our fault. Did I say Trump, Trump, Trump?”
China has no chance to replace the buck as reserve currency.
I fully expect to see digital bucks. We may be looking at some sort of hybrid two buck system. One internal and one external like China.
How to coordinate a digibuck with the other digibucks is my question. What will be par? What will be the mechanism to trade? And of course, WHO gets to decide value and holds the reins?
“Actually, oil is falling off a cliff.”
Almost perfectly aligned with oil’s dominant annual cycle.
Historically, since the early last Century (1920’s), greater than 80% > of the TWO annual high’s for oil (and RBOB [gas]), cyclically top within 1 month of what is Memorial (give or take from Memorial Day), with the Annual Top being either proximal to Memorial Day (with secondary top in mid September), or the Annual Top being in Mid September (with secondary top being Memorial Day).
These tops may well be followed by strong and abbreviated volatility.
As well, greater than 90% > of Oil and RBOB Annual Lows take place within a 5 week window between January to mid February.
What’s even funnier, you can almost always see the CBOT set up of Commercial’s (who are by far the biggest movers of these markets) vs Speculators and Institutional/Fund traders (these together being smaller than the commercial traders). As with other commodity trading, you also often see large *Open Interest simultaneously, both telling you the market is about to swing/pivot.
Folks, you cannot pick the tops and bottoms, but you can know the historical “annuals” (window) with a significant degree of accuracy. If we are in an off year, where the market isn’t following the dominant annual cycle, you can often see this reflected again with how the “Commercial Buyer’s” are positioning, as well as “Open Interest” not being such a spread. There are several other very good technical indicators which track the same underlying commercial activity.
Spot-on. There's a very good reason for that: NO ONE can ever trust a currency that has been manipulated in China's favor every day of its existence.
The damn dollar is digital, except for the money in actual circulation. They printed 7x the US money supply since Obama came into office. Biden printed 40% in the last 15 months as well.
GDP be dammed. The Fed’s job is to grow the money supply by managing loans to sectors of the economy. Democrats wanted a little for black loans, then women’s loans, minority loans, and tuition for minorities, all coming at the expense of actual money management by the Fed Res. When your political masters dilute the mission of an organization and divert growth away from the nation, we all suffer and not just the White Males.
The USD has been in a bull market for 18 months.
Bet against that chart VERY carefully.
“Taiwan, Israel...”
Really? And what are their trading volumes compared to the USD? That’s like saying some penny stock will knock off Apple or Amazon or Exxon in the S&P 500 index. LOL!
Federal Reserve Chairman Jerome Powell reiterated the central bank’s commitment to bringing down inflation, saying Friday it’s essential for the global financial system.
“The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value. To that end, my colleagues and I are acutely focused on returning inflation to our 2 percent objective,” Powell said in introductory remarks for a Fed-sponsored conference on the global role of the U.S. currency.
“Meeting our dual mandate also depends on maintaining financial stability,” Powell said. “The Fed’s commitment to both our dual mandate and financial stability encourages the international community to hold and use dollars.”
In a addition to price stability, the Fed is charged with maintaining full employment.
He also noted coming changes to the global financial system, including the use of digital currencies and payments systems like FedNow, a service expected to come online in 2023.
A digital currency, as has been discussed by Fed officials, could help support the dollar as the world’s reserve currency, he said.
“Looking forward, rapid changes are taking place in the global monetary system that may affect the international role of the dollar in the future,” Powell added.
[could mean anything ...]
Why so cryptic? Why not come out and say what it is? Is this deliberately done to crash the market?
That’s the plan.
Allowing a corrupt government like the USA managed to push the while works over the edge.
The Fed Chairman has joined us “crazy conspiracy theorists” with our “insane” claims that the days of the dollar are coming to an end.
;-)
“NO ONE can ever trust a currency that has been manipulated in China’s favor every day of its existence. “
Or from a country that inflicted a worldwide plaque on everyone and lied about it, or that is opaque and lies through their teeth about their economic numbers.
I have a 250 gallon “farm tank” that is almost empty. I really need to refill but the current prices are keeping me from doing that. But the “cost” of the gas may be the least of my worries. Just having it may be paramount.
Corruption is connected.
“America should be the country bombing the Ukraine. We should also try and hang Col. Vindman.”
Make no mistake, after all the money we gave them to buy weapons and arm all manner of militant groups, the United States (if it still exists) will be at war with Ukraine within 10 years.
So, it’s time to buy? 😁
“You can’t replace something with nothing.”
Those are the old rules.
You are not ready for the new ones.
What are the new rules?
There will be no rules.
Fasten your seat belt—anything is possible at this point.
Oh my, we had better switch to all digital currency pronto then- only solution. I mean kts not like they ever would freeze our digitsl bank accounts or anything nefarious /s
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