Tag: Fed

AOTW

When you are a DEI appointee, break the law, cheat the IRS and be a semi-lunatic about your crime, yes, you are the Asshole of the Week.

The Justice Department has filed a response to Federal Reserve Governor Lisa Cook’s lawsuit over her Monday firing – claiming that the President was within his right to boot her over allegations of mortgage fraud (with a third property disclosed by Federal Housing Finance Agency (FHFA) Director Bill Pulte last night), and that Cook is “highly unlikely to prevail on the merits.” 

Trump’s legal team argues that the Federal Reserve Act (FRA) gives the President “broad discretion” to remove governors “for cause” and that courts cannot second-guess that judgment:

The Federal Reserve Act (FRA) empowers the President of the United States to appoint (by and with the advice and consent of the Senate) the members of the Board of Governors of the Federal Reserve System. 12 U.S.C. § 241. Those Governors serve for fixed terms, “unless sooner removed for cause by the President.” Id. § 242. The statute thus expressly contemplates that, even setting aside his Article II authority over principal officers, the President retains broad discretion to remove a Governor for “cause.”

Citing Reagan v. United States (1901) and Dalton v. Specter (1994), they write “Where a statute commits decisionmaking to the discretion of the President, judicial review of the President’s decision is not available,” therefore Cook cannot get a temporary restraining order allowing her to stay in her job.

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Not only does her face kind of remind me of an asshole, she is helping the Fed screw Americans seeking a mortgage at a lower rate

Elon Musk Says DOGE Discovered 14 ‘Magic Money Computers Which Can Just Make Money Out of Thin Air’

Elon Musk, the tech billionaire and now self-proclaimed advocate for government efficiency, has revealed a stunning financial scandal hidden within the depths of our government.

Speaking on Senator Ted Cruz’s Verdict podcast, Musk disclosed the existence of what he calls “magic money computers.”

During the explosive interview, Musk explained how these government computers can conjure up trillions of dollars out of thin air—completely detached from a synchronized network.

According to Musk, 14 such machines have been uncovered across various agencies, mostly at the Treasury Department, the Department of Health and Human Services (HHS), the Department of Defense (DOD), and even the State Department.

Musk’s revelations suggest that federal spending is even more chaotic and reckless than the public realizes. With multiple “magic money computers” operating independently, government agencies are issuing massive payments that don’t add up to the numbers being reported to Congress or the American people.

Ted Cruz:
Now, one of the things you told me about is what you called Magic Money Computers at the Treasury. Tell us about it because I had never heard of that until you brought it up.

Elon Musk:
Okay, so you may think that the government computers all talk to each other, synchronize, add up what funds are going where, and that it’s coherent. And that the numbers, for example, that you’re presented as a senator are actually the real numbers.

Ted Cruz:
One would think.

Elon Musk:
One would think. They’re not.

Ted Cruz:
Yeah.

Elon Musk:
They’re not totally wrong, but they’re probably off by 5% or 10% in some cases. I call a magic money computer any computer that can just make money out of thin air. Best magic money.

Ted Cruz:
How does that work?

Elon Musk:
It just issues payments.

Ted Cruz:
You said there’s something like 11 of these computers at Treasury that are sending out trillions in payments?

Elon Musk:
They’re mostly at Treasury. Some are at HHS, some at… there’s one at State, some at DOD. I think we’ve found 14 magic money computers now.

Ted Cruz:
Fourteen, okay.

Elon Musk:
They just send money out of nothing

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Great, not only does it add to inflation, it is a new form of bank robbery. Thank you Washington for ruining everything you’ve touched since about Woodrow Wilson

Post Election Meme’s

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Another Obama-Biden Chinese Spy: Federal Reserve Advisor Alleged to Be Literally Selling Out America

How are these guys not tried for being traitors?

The threat of the Chinese Communist Party is ever-present in the ranks of government.

The Washington Post reported Friday that John Harold Rogers — a former senior advisor to the Federal Reserve Board of Governors working in the International Finance Division — was arrested that day for allegedly leaking sensitive information to the Chinese government while taking massive payments and embarking on fully paid trips to the country.

Rogers worked for the Fed from 2010 to 2021, beginning his tenure at the central bank under former President Barack Obama’s administration.

After his departure, Rogers moved to Shanghai, China, and began working as a professor at Fudan University. He was arrested in his hometown of Vienna, Virginia.

Prosecutors allege Rogers had access to briefs and spreadsheets that could “allow China to manipulate the U.S. market, in a manner similar to insider trading.”

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5 Things You Need to Know About the Fed’s Rate Cut – A Pessimist Would Think It’s Rigged

The Federal Reserve’s decision to cut interest rates marks a new chapter in the D.C. Cartel’s long march toward the bankruptcy of our nation.

Although the Fed’s move to cut rates and expand the money supply may provide some relief from higher interest rates for consumers and businesses, it does so at the expense of fueling the fires of inflation.

With prices for essentials rising over 20%, this move doesn’t prioritize the interests of the American people. Here are the five key things you need to know about the Fed’s rate cut and what it’ll mean for you and your family.

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Let’s see, less than 2 months before an election that the deep state is potentially losing, the total debt they have to pay interest on just went over 1 trillion, and it goes on from there.

Your Friday Harvard Fail, Plus Trouble At The Fed

Another day, another diversity hire fail, another Harvard Plagiarism story, another Democrat ruining our lives story. This is a person who is supposed to help with inflation, the money supply and our price of gas and groceries. We’re fucked.

Here goes.

Lisa D. Cook is one of the world’s most powerful economists. She taught economics at Harvard University and Michigan State University and served on the Obama administration’s Council of Economic Advisers before being appointed, in 2022, to the Federal Reserve Board of Governors, which controls the interest rates and money supply of the United States.

Despite her pedigree, questions have long persisted about her academic record. Her publication history is remarkably thin for a tenured professor, and her published work largely focuses on race activism rather than on rigorous, quantitative economics. Her nomination to the Fed required Vice President Kamala Harris to cast a tie-breaking vote; by contrast, her predecessor in the seat, Janet Yellen, now Treasury secretary, was confirmed unanimously.

The quality of her scholarship has also received criticism. Her most heralded work, 2014’s “Violence and Economic Activity: Evidence from African American Patents, 1870 to 1940,” examined the number of patents by black inventors in the past, concluding that the number plummeted in 1900 because of lynchings and discrimination. Other researchers soon discovered that the reason for the sudden drop in 1900 was that one of the databases Cook relied on stopped collecting data in that year. The true number of black patents, one subsequent study found, might be as much as 70 times greater than Cook’s figure, effectively debunking the study’s premise. 

Cook also seems to have consistently inflated her own credentials. In 2022, investigative journalist Christopher Brunet pointed out that, despite billing herself as a macroeconomist, Cook had never published a peer-reviewed macroeconomics article and had misrepresented her publication history in her CV, claiming that she had published an article in the journal American Economic Review. In truth, the article was published in American Economic Review Papers and Proceedings, a less prestigious, non-peer-reviewed magazine.

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I’d say get woke go broke, but we already are and these people are making it even worse.

Election Corruption By The Deep State

And who comprises the deep state? The unelected. To save our country, these groups need to be eliminated. I hope for our country that somehow we can overcome the cheating, ballot harvesting and Zuckerbucks all designed to keep the very people who could easily lead us out of the mess we are in.

Everyone knows they are cheating. Everyone knows they are corrupt, but they have the backing of big money and decades of corruption all in the name of power and control. Yes, it is evil and yes, it is human nature that has played out since the beginning of man.

If not, this is how countries fall. Look at France right now. They are leaderless and are burning right now because they refused to protect their borders.

Not here but is included is the Fed.

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The Guarantee of Hyperinflation

Economist John Williams of Watchdog.com describes why we will suffer from hyperinflation that will begin no later than 2014 and why.

Open ended QE will cause treasury debt which leads to long range insolvancy of the US Government.  If they had to report income under GAAP (Generally Accepted Accounting Principles)  rules, we are losing $5 trillion annually.   Taking 100% of peoples income would still not pay for this debt.

We are broke.

Government has been kicking the bucket down the road and the result will be inflation.

The global loss of confidence in the dollar happened with the raising of the debt ceiling last year.

The Fed’s primary goal is to keep the banking system solvent.  They haven’t done anything to stimulate the economy.

More evidence that inflation is just around the corner from the Federal Reserve Bank of Dallas.