The people who love to weave conspiracy theories about the Fed are twisting the fact that the Fed’s design from the outset was to be a private organization. The banks were the shareholders BECAUSE it was to be a bailout system for them as J.P. Morgan had acted during the Panic of 1907. The banks […]

Here we go with the same old hypothesis over the Quantity Theory of Money that Trump is (1) nationalizing the Fed, (2) the Fed’s actions are worse than the virus, and (3) Forbes proclaims that the Trump & the Fed are destroying the dollar. It is really fascinating how these propositions running around are not […]

The Federal Reserve called a third emergency meeting to combat the economic impact of the unprecedented hyped coronavirus. A lot of emails have come in noting that Socrates had forecast the first interest rate cut by the Fed and its next target was March 23rd as we published back on March 3rd. Many have asked […]

  The arrogance of the medical profession who justify this insanity will result in poetic justice – they have probably lost their entire pension funds by now. The CME Chicago futures exchange is in crisis mode invoking emergency protocols to auction off the portfolios of Ronin Capital, which is based in Chicago. It has been […]

There is no question that the fundamentalists #1 Golden Rule has been when stocks crash, run to bonds. We are entering the collapse in public confidence and this is BEYOND the central banks despite the massive attempts to intervene. Keynesianism is DEAD!!!! We have entered uncharted territory which is the darkest fears of academics for […]

ASIA: The Indian government on Monday prohibited entry of passengers from European Union (EU) countries, European Free Trade Association, Turkey and the United Kingdom into India as a step to combat the spread of COVID-19 in the country. The Directorate General of Civil Aviation (DGCA) said in a circular that no airlines shall board passengers […]

Like clockwork, we tend to go through these monetary resets because those in power lack the experience of a trader and always design some system that is destined to fail. The gold standard under Bretton Woods failed because they fixed the value of gold at $35 but never fixed the supply of dollar. Eventually, there […]

This is the very essence of a financial crisis. Despite the fact that Trump cheered the Fed and they cut rates to ZERO, the risk was what would happen if the market continued to fall. Another steep sell off took place which resulted in the halt of trading again on Wall Street as Monday opened. […]

QUESTION: Marty, you recently said that there was a shadow repo market. Nobody has ever heard of this. In the Fed’s statement, there is a curious announcement that’s talking about coordinated swap lines. They also said: ” both a collateralized and uncollateralized basis, to support the provision of liquidity to households and businesses and the […]

QUESTION: You said that the Fed does not print money out of thin air on its own. The goldbugs say you are wrong. I suspect that they are wrong not you. You seem to have a much deeper understanding of money than anyone else. Would you clarify this issue? Thank you very much PHK ANSWER: When […]