Tuesday, July 7, 2020

Fed’s QE Unwind Reaches $501 Billion, Balance Sheet Falls Below $4 Trillion. “Autopilot” Engaged

by Wolf Richter, Wolf Street:

The albatross of $617 billion in bonds that mature in over 10 years.

Over the next few months, the Fed is expected to announce its new plan for its balance sheet. Meanwhile, as we’re riveted to the edge of our seat, the old plan continues on autopilot, and February was one of the few months when the Treasury “roll-off,” as Chairman Jerome Powell likes to call it, hit the “caps.”

In February, the Fed shed $57 billion in assets, according to the Fed’s balance sheet for the week ended March 6, released this afternoon. This slashed the assets on its balance sheet to $3,969 billion, the lowest since December 2013. Via its “balance sheet normalization,” the Fed has now shed $501 billion. And since peak-balance-sheet at the end of 2014, the Fed has shed $547 billion:

California DMV to be audited for voter fraud

from Fellowship Of The Minds:

ABC30 reports that on Feb. 27, 2019, California’s state legislature agreed to yet another audit of the Department of Motor Vehicles, which “has been rife with scandal.”

This time, the audit will focus on the DMV program that registers drivers to vote. The department has admitted mishandling voter registration information for 23,000 drivers and double-registering as many as 77,000 others.

Leaked Audio: Google Wants To ‘Steer’ Conservative Movement Away From Nationalism

from ZeroHedge:

A senior Google director of US public policy defended the company’s ongoing sponsorship of the Conservative Political Action Conference (CPAC) in leaked audio of what is believed to be a company-wide internal meeting, according to Breitbarts Allum Bokhari (who in September published a leaked recording of Google execs panicking over Hillary Clinton’s election defeat).

U.S. Job Cut Announcements Rise 117 Percent To The Highest Level That We Have Seen In More Than 3 Years

by Michael Snyder, The Economic Collapse Blog:

We have not seen anything like this since the last recession.  Layoff announcements are coming fast and furious now, and the speed at which workers are being laid off is shocking a lot of people.  In this day and age, big companies have absolutely no loyalty to their workers.  The moment it becomes financially advantageous for them to start laying off employees, most of them will do it in a heartbeat.  I personally know someone that was an extremely hard worker and that put in extra time and effort for his company for many, many years, but he was just laid off because that is what the number crunchers determined was the right move.  It is a cold, cruel world, and as we witnessed back in 2008, job losses can occur at a pace that is absolutely breathtaking when a recession strikes.

BREAKING: Official FEC Complaint Alleges Rep. Ocasio-Cortez Laundered Money Through PAC to Provide Campaign Funds to Boyfriend

by Jim Hoft, The Gateway Pundit:

The Coolidge-Reagan Foundation filed official complaint before the Federal Election Commission on February 27 that accuses Rep. Alexandria Ocasio-Cortez of laundering money through a PAC to provide campaign funds for her boyfriend Riley Roberts.

On February 15th TGP contributor Cassandra Fairbanks reported on reporter Luke Thompson’s accusations that Democrat Rep. Alexandria Ocasio-Cortez (D-NY) put her boyfriend on staff drawing a salary on the taxpayer’s dime. Twitter temporarily suspended Thompson for making the accusations.

Italy gives the middle finger to both the U.S. and EU by joining China’s Silk Road project

by Kenneth Schortgen, Shotgun Economics:

In a move that is sure to cause both consternation and apoplexy within both Brussels and Washington, Italy has officially announced they intend to join China’s global Belt and Road project.

The Belt and Road initiative, or also known as the Silk Road 2.0, is a global trade route being built between South Korea and the UK, and would expand trade potential between Europe, Eurasia, and the Far East several fold.

Russiagate Grand Wizard Deceives Audience About Assange

by Caitlin Johnstone, Caitlin Johnstone:

When it was first revealed in November that WikiLeaks founder Julian Assange is under secret charges by the Trump administration, I spent the next few days being told by Russiagaters that this was proof that I have been wrong about their demented cold war cult all along, because #MuellerTime is fast approaching. At long last, they vehemently assured me, Assange was going to prison for working with Russia to deprive Queen Hillary of her rightful throne.

Modern Monetary Theory v Central Bankers

by Martin Armstrong, Armstrong Economics:

QUESTION: Hi Mr. Armstrong et al: Read your blogs daily with great interest & recommend them to all my friends. You’ve absolutely changed my perspective on so many issues. There is a contradictory theme that I & my friends can’t figure out – hope you could respond.

You have an obvious animus with Mr. E Griffin & his “Creature” book.
It’s our observation that both you & Mr. Griffin arrive at more or less the same destination-political chaos & possible currency disruption, as a result of politicians stupidity & short term thinking. You both just take different routes to arrive at similar conclusions.

MORE FAKE MONEY … IN VENEZUELA?

by Joseph P. Farrell, Giza Death Star:

If you’re one of those wondering about what is really going on in Venezuela, join the club; I do too, and I’m not sure I’m any closer to an answer even after receiving many articles about it from various readers of this website, and that’s why I’ve avoided the topic. I just don’t know who to believe among the major competing narratives. But when Ms. K.M. and Mr. D.W. both spotted and sent this article to me, I knew I had to blog about it, firstly, because it fit the “meme” that emerged when I scheduled this week’s blogs; many people seemed to have concentrated or spotted some article having to do with money in all its variegated forms. Secondly, it’s tailor made for a good high octane speculation, and follows, in a general sort of way, my speculations in this week’s previous blogs.

OPCW report on Douma chemical attack points to false flag operation (Video)

by Alex Christoforou, The Duran:

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the Organisation for the Prohibition of Chemical Weapons (OPCW) final report on the alleged chemical weapons attack on Douma, Syria last year, which points to a jihadist false flag.

The report manages, however, to provide the necessary cover for the Trump White House, UK, and France to avoid an embarrassing apology for launching an attack on the Syrian government based on yet another White Helmets/jihadist hoax.

The Children Are Running The Daycare Formally Known As The House Of Representatives – Pelosi Walks Out On Freshmen & Washington Post Turns On Hillary Clinton – They Are Eating Their Own

by Susan Duclos, All News Pipeline:

Washington Post has turned against Hillary Clinton, Democrat donors are in a panic over Bernie Sanders small donor and massive fundraising efforts and concerned that he may emerge as the Democrat candidate, and the liberal “freshman” aka the “children”  in the House of Representatives appear to have taken over control of what is starting to look more like a daycare center than a congressional body.

Kick back folks, pop your popcorn, and enjoy the show because I have a number of individual pieces of news, all recent (some still developing) that shows that chaos is reigning, tempers are flaring, and liberals are eating their own, just like the cannibals they are.