The Market Is Setting Up a Trap

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By Graham Summers, MBA Stocks are rallying today because they believe: 1) The bank crisis is over (it isn’t). 2) The Fed is back to easing (it isn’t). 3) The economy is strong (it isn’t). 4) The Fed can achieve a “soft landing” (it can’t). The Russell 2000 (IWM) which is more closely aligned with … Read more

Republicans Against a Central Bank Digital Currency (CBDC)

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by Martin Armstrong Republicans are working to prevent the central bank from establishing a digital currency (central bank digital currency or CBDC). Ted Cruz (R-Texas), backed by  Mike Braun (R-Ind.) and Chuck Grassley (R-Iowa), proposed S. 887: “A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or … Read more

Recession Indicators Says The Fed Broke Something

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By Lance Roberts Recession indicators a ringing loudly. Yet, the Fed remains focused on its inflation fight, as repeatedly noted by Jerome Powell following this week’s FOMC meeting. During his press conference, he specifically made two critical comments. The first was that inflation remains too high and is well above the Fed’s two-percent goal. The … Read more

CDC on the scene on long island after 100 kids start vomiting at school event, half the school out sick

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More than 100 students at a Long Island high school fell ill this week in what health officials believe to be a nasty outbreak of the highly-contagious and drug-resistant norovirus. The nightmarish scenario at Babylon High School may have begun at a Friday night school dance that was interrupted when students attending began vomiting, News12 … Read more

Treasury Secretary Yellen convenes U.S. financial regulators for an unscheduled meeting — Bloomberg”; Closed to the Public

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JUST IN – Treasury Secretary Yellen convenes U.S. financial regulators for an unscheduled meeting — Bloomberg — Disclose.tv (@disclosetv) March 24, 2023 Treasury Secretary Janet Yellen will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council. The meeting will be closed to the … Read more

New Fed Forecasts imply a sharp slowdown through remainder of the year…. Grantham: ‘Brace for the S&P 500 to plunge 50%’

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Nearly all Fed officials saw risks to that already-downgraded forecast as tilted to the downside. via Bloomberg: Federal Reserve Chair Jerome Powell and his colleagues are expecting a sharp dropoff in economic activity through the rest of 2023 — at least, that’s the implication from new economic projections they published this week. The figures show … Read more

US Has Launched Airstrikes in Syria

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#BREAKING: US has launched airstrikes in Syria after one US contractor was killed & five US troops were injured when a drone of Iranian origin attacked a coalition base near Hasakah in Syria, Pentagon says – ABC — Faytuks News (@Faytuks) March 24, 2023 UPDATE: At the direction of President Biden, I authorized precision airstrikes … Read more

What Happens When $400 Billion Isn’t Enough?

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By Graham Summers, MBA Now is the time to be particularly careful in the markets. First and foremost, the banking crisis is not over. This is quite concerning, because the Fed has pumped nearly $400 BILLION into the financial system in the last two weeks. Despite these emergency loans/ access to credit, the regional banking ETF is … Read more

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That’s not a problem—until it is

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Why do banks invest in MBS? Itamar Drechsler, Alexi Savov, and Philipp Schnabl* March 13, 202 New York University Stern School of Business U.S. banks had unrealized losses of $1.7 trillion at the end of 2022. The losses were nearly equal to banks’ total equity of $2.1 trillion, professors Philip Schnabel and Alexi Savov and … Read more

Dutch farmers are spraying government buildings and riot police with MANURE!

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The Netherlands is currently seizing privately owned farm land. In protest, Dutch farmers are spraying government buildings and riot police with MANURE! The Netherlands is currently seizing privately owned farm land. In protest, Dutch farmers are spraying government buildings and riot police with MANURE! pic.twitter.com/InKSulmZ9s — THEWATCHTOWERS (@THEWATCHTOWERS) March 24, 2023

2/3 of QT has been reversed

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9 months to reduce it by 600 bil. 2 weeks to add 300 bil. An unregulated entity decided they would create US dollars to buy all the devalued assets from an industry that mismanaged their risk. Crazy as that sounds, it happened another time just 15 years ago.   h/t rubyone2