Obama & Trump, The Big Deception

A Commentary About Corruption And Misinformation by Mitch Santell

Trump Obama Global Agenda WM Final

The country is divided because it was planned this way. Most significant events that happen are all planned, and the “illusion” that it just “happened by accident” is fantasy.

Do you remember the term “Quantitative Easing?”

This was started during the Obama Administration. 

Here is what was written:

The federal government has run massive deficits since President Obama became president in 2009, but the deficits, and the government’s interest payments on the cumulative federal debt, would have been even greater if the Federal Reserve had not intervened with a massive and unprecedented bond and securities buying program.

Beginning in 2009, the Fed began its multi-stage program of quantitative easing through large-scale purchases of Treasury and other securities. In the aftermath of the financial crash, the agency had quickly lowered the targeted federal funds rate to between zero and 0.25 percent. In early 2009, the bank’s leaders, especially Ben Bernanke, sought to provide further monetary stimulus to the national economy and settled on large-scale asset purchases as the most viable way to expand the monetary base with interest rates already at the lower bound.

As of September 2008, the Fed held $477 billion in federally-issued debt, out of a cumulative total of $5.8 trillion. Thus, the Fed owned about 8 percent of all federal debt before the quantitative easing program began. In fiscal year 2009, the Fed then made net purchases of Treasury securities totaling $292 billion, followed by nearly $900 billion over the two-year period of 2010 and 2011 and $800 billion over the three-year period from 2012 through 2014. The Fed now owns $2.5 trillionin Treasury securities, or about 18 percent of all outstanding federal debt, which is well outside the historical norm.

The purpose of quantitative easing was to stimulate asset valuation by lowering long-term borrowing costs and thus also to encourage business expansion and consumption by households. It was also intended to make it easier for the federal government to run larger deficits and thus to provide fiscal stimulus to the national economy. This month, the average interest rate on a newly-issued 30-year mortgage is 3.43 percent, near the lowest level ever recorded. Fixed-rate 30-year mortgage rates have been below 5 percent continuously since January 2011.

Other central banks around the world have followed similar policies. The result has been a long-period of extremely low borrowing costs for governments. Amazingly, in 2016, the Congressional Budget Office (CBO) expects net interest payments on nearly $14 trillion in outstanding federal debt to total just $253 billion — the same level of interest payments that were made by the federal government in 2008 on $5.8 trillion in debt.

Read more here: http://bit.ly/2P2IAEj

10 dollar Bill New York Federal Reserve
The Banks Create Money Out of Debt. (US Dollar not backed by Gold or Silver since 1971).

Question: Why are we in deep trouble?

Answer: Instead of the Federal Reserve Pumping 75 Billion Dollars a month into the economy, they are now pumping in 75 Billion Dollars a day, five days a week until November 4, 2019.

Don’t Believe me?

Here you go:


(Reuters) – The New York Federal Reserve will continue to boost liquidity in money markets into November, the bank announced on Friday.

The bank will offer daily repurchase agreement, or repo, operations, offering at least $75 billion a day in daily cash injections through Nov. 4. The Fed also announced term repos for firms wanting to borrow cash for longer, with most offerings lasting two weeks. This extends a policy that was initially supposed to end next week.

The continuation of the daily repo operations ensures that financial firms will be able to turn to the central bank to borrow cash until at least the next Fed meeting, when policymakers are expected to discuss a more permanent solution.

The New York Fed began holding daily repo operations on Sept. 17, after a key borrowing rate in overnight lending markets for cash spiked to 10%. The central bank succeeded in calming markets through the operations, but some investors and former Fed officials have been calling on the central bank to deliver a long-term fix.

Some investors say the Fed should permanently increase liquidity in the banking system by expanding the size of the balance sheet or introducing a standing repo facility, which would allow firms to borrow cash as needed at a fixed rate.

The pre-emptive action from the New York Fed could help minimize market volatility in the near term because firms now know they can turn to the central bank if they need liquidity, said Blake Gwinn, head of front-end rates strategy for NatWest Markets. “It’s a full fledged lean into providing repo liquidity through these temporary operations,” he said.

Read more here: https://reut.rs/31kSKmb
This was just reported this morning (October 16, 2019):

“Something Snaps: Repo Locking Up Again As Overnight Fed Operation Oversubscribed, Repo Rate Jumps”

Now Read this:

First it was supposed to be just a mid-month tax payment issue coupled with an accelerated cash rebuild by the US Treasury. Then, it was supposed to bejust quarter-end pressure. Then, once the Fed rolled out QE4 while keeping both its overnight and term repo operations, the mid-September repo rate fireworks which sent the overnight G/C repo rate as high as 10% was supposed to go away for good as Powell admitted the level of reserves was too low and the Fed launched a $60BN/month Bill POMO to boost the Fed’s balance sheet.

Bottom line: the ongoing repo market pressure – which indicated that one or more banks were severely liquidity constrained – was supposed to be a non-event.

Alas, as of this morning when the Fed’s latest repo operation was once again oversubscribed, it appears that the repo turmoil is not only not going away, but is in fact (to paraphrase Joe Biden) getting worse, because even with both term and overnight repos in play and with the market now expecting the Fed to start injecting copious liquidity tomorrow with the first Bill POMO, banks are still cash starved.

Read more here: http://bit.ly/2nUBVRi

repo 10.16 Market 2019


bank-federal-reserve-silver


Pump and Dump WSJ 2019 Screen Shot 2019-10-16 at 8.13.10 AM
We Are In Financial Trouble. What will you do?

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