All-Star Jeff Snider and Erik discuss:
- If the Fed really was printing money, there'd be no need to sell it to the public in general, financial services industry specifically.
- Chairman Powell appeared on 60 Minutes in May, and while everyone focused on his statement "create money digitally" no one noticed three important lies the Chairman told.
- There isn't the slightest hint of inflation in any meaningful market after almost three months of so-called money printing. Nor in corporate boardrooms.
- The most optimistic case, the base comparison the Fed (and CBO) is using, is that this will all end up being worse than the 2008-09 Great "Recession."
- Hopefully back to even by the end of next year isn't quite what people have in mind, and that's why this openly aggressive central bank response (lying).
Supporting Materials for Download
The Flood Myth - Jeff Snider MacroVoices 2020 06 01
Mr. Snider is Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners. Through detailed and comprehensive investigation of the global monetary and banking system, he was one of the few analysts to sound the alarm during the run-up to the panic of 2008 and then to predict the rebound in 2009. His current commentary focuses on the global implications of the ongoing monetary deconstruction including the failure of Federal Reserve and central bank policy. Mr. Snider is published nationally at RealClearMarkets, NewsMax, David Stockman's Contra Corner, and other places.