17 Burst results for "Chairman Of The Federal Reserve"

"chairman federal reserve" Discussed on Green Connections Radio -  Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women

Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women

05:15 min | 2 weeks ago

"chairman federal reserve" Discussed on Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women

"Es g investing. And whether you choose it right. I mean some of its mercenary. I wanna make money and these people have money but some of it is based on how you see the risk and whether you see Environment social and governance issues as something that you want to support. So there's a values thing in their absolutely well. You see the risk you know. Take the government governance side of things. We've seen more and more ceo's over the last couple years doing crazy things you pitching fits over whether they get the right tequila or not bragging about their affairs with russian spies and these kind of crazy. Public behaviors and board saying are nearby. They're realizing that. There's a connection between bad personal risk and bad governance of the company and hitting on their female employees that yes absolutely. So i think that there's there's an increasing recognition and you've seen all the all the figures on diverse boards have companies that outperform whether that's a chicken and the egg question. I'm not gonna get away in on but good governance leads to better performance similarly on environment. Let's say you're an investor with the big court folio and say some about is in coastal real estate in unicycle. Bonds cities are hugely vulnerable to climate change. And if you don't deal with the climate change then you're going to start seeing a lot of defaults central banks and financial regulators around the world. Last couple of years have been beating the drum on this saying if we don't deal with this financial risk you know. Insurance companies are undercapitalized for the kind of extreme weather predictions that we are seeing real estate portfolios. You know your coastal real estate is so vulnerable. And that's a huge threat to insurance companies and in turn to the whole financial system. You remember in two thousand eight and insurance company. It was under capitalization of an insurance company in face of financial instruments that helped to topple more and more dominoes. And so if you've got a portfolio with real estate why would you also want to be putting money into the kind of fossil fuels and activities that are putting that other part of your portfolio at risk or municipal bonds or anything like that and and it's a real real symptoms dynamic challenge and a lot of the world's biggest investors are tuned into this. You know central banks are tuned into this. You know last year nine. Us senators sent a letter to the chairman. Federal reserve saying climate pricing is so important. If you haven't christ this properly if you haven't price climate risk properly. We are willingly walking into another gray rhino event. And people are recognizing that we've seen over the past few weeks new statements from From chairman powell and from other people about how important it is to stop putting money into industries that are producing all sorts of negative extra creating risks for other people and that is not being christ right. It's a huge huge huge systemic threat to the financial system to global economies and really to to human existence..

Federal reserve powell Us
"chairman federal reserve" Discussed on Newt's World

Newt's World

07:39 min | 2 months ago

"chairman federal reserve" Discussed on Newt's World

"Now who's great side story about. How the tax get signed. Reagan had announced to his staff early in his presidency that every august he would be at the ranch and mike beaver. Who was in charge of the schedule and was very close to nancy. Also had been communications director as a governor candidate. Deaver said you can't leave for entire month and reagan said well. You know you'd better figure out what you're gonna do at the ranch. Because i'm going to the ranch because if i go to the ranch one month out of every year the next eight years i will live longer and if i don't i won't live long. So this is a matter of life and death albie at the ranch. You figure out what we can do at the ranch. That may snooze so reagan up at the reagan ranch is set up the stable outside. It's very rustic and reagan is there and gives a little talk and signs the tax cuts and it is extraordinarily moment because reagan had fundamentally changed the underlying economic nature of our miracle is gonna operate. He had moved us from a demand. Side which didn't increase manufacturing didn't increase investments didn't increase productivity to a supply side which said if we do all those things if we have more factories if we have more productivity if we have more production than prices will go down by the way something which was proven with gasoline and oil. I actually did. A book called gasoline in two dollars and fifty cents which barack obama attack because it violated the liberal model that gasoline had to permanently. Go up and the fact is that you have a demand side supply-side fight over oil and gas and it turns out that if you emphasize the supply side to shear production crashes the price so if you want inexpensive gasoline maximize production if you focus on demand and you try to get the maximum of people buying gasoline. You guarantee that prices are going to go up so we were in a situation. In august of nineteen eighty-one where reagan is shifting the country and what he's doing is he saying one. I'm gonna totally support. Paul volcker i was frankly the other side because i knew this is going to cost a seats. Which did cost us. Twenty nine seats in the house in nineteen eighty-two because we're a deep recession thanks to paul volcker but reagan's point was very much like that thatcher you have to break the back of inflation period. Well inflation when he took office was thirteen and a half percent when he left office. Eight years later it was four point eight two percent and kept by the way going down so you had a growing economy. With a declining inflation rate. People had more real money in their pockets. Their purchasing power was going up and reagan was prepared to take the pain as a matter of policy and support volker in this very tough program at the same time because he had deregulation in a big way in cut the federal bureaucracy and dramatically reduced the amount of burden small businesses and manufacturers to carry. You began to get a program where people thought. America was the right place to invest. So you had a growing economy despite the high interest rates and by nineteen eighty-four. It was doing well enough. That reagan could campaign on the slogan morning in america. Now the gap between the malays of jimmy carter and four years later morning in america with ronald reagan was in many ways. A function of supply side economics and the impact of the reagan. Tax cut was a remarkable achievement was both an economic revolution and intellectual revolution and a political revolution. The tax cuts included an accelerated cost recovery system which accelerated depreciation tax reductions. Some of the men was you bought a new piece of equipment. You could write it off faster so you could buy another new piece because the equipment was changing technology every couple years next the individual tax brackets with a twenty three percent cut in individual tax rates. So you're out here working hard all of a sudden you got much more money in your pocket. Which in visors you to save to invest to be involved. The top tax rate was cut from seventy to fifty over a three year period. Well again remember. The federal tax also has a state tax on top of it. So if you're in a state that has a high tax bracket new york california being good examples connecticut illinois and you start at seventy percent and then you add the state taxes in really gets to be expensive so the lowest tax rate was cut from fourteen to eleven the real estate tax exemption increased to six hundred thousand dollars from one hundred and seventy five to promote capital cost recovery. In other words they wanted people to be able to sell a house or sell a factory or sell a building and keep most of it. So you begin to create modernisation. It'd be on to create an incentive to go out and look for new better more modern every working taxpayer was allowed to establish individual retirement accounts and it was a step to increase savings if you look today. The actual assets and individual retirement accounts total twelve point six trillion dollars at the end of the first quarter of two thousand twenty one now think about that twelfth trillion six hundred billion dollars that people have that belongs to them. It's astonishing over generation. How many people has an ira and it's astonishing. How much money has been saved. And put back into the system. In order to accelerate economic growth because people had a real senate those ten percent exclusion on income for two earner married couples up to three thousand dollars of exclusion. I was put in to offset the fact that we actually were charging you more if you were married than if you are single people those taxation windfall profits and that was reduced. There was a reduction in the capital gains tax from twenty eight to twenty. And i'm very proud of the fact that the house. Republicans speaker asked the largest capital gains cut in american history. When you cut capital gains tax you dramatically increase investment. You increase economic growth. You modernized the economy. You make it easy for us to compete with china. Two very important thing. The most people don't fully appreciate but capital gains as was once said years and years ago by alan greenspan chairman federal reserve. The ideal would be zero because it creates so much economic growth. It took until nineteen eighty-three for the economy to turn around because of the volcker enormous increase in interest rates. But starting in one thousand nine hundred three the economy began to roll and in many ways up until the bush collapse.

reagan mike beaver reagan ranch paul volcker Deaver albie america Reagan nancy volker thatcher barack obama jimmy carter
"chairman federal reserve" Discussed on Vox's The Weeds

Vox's The Weeds

08:27 min | 3 months ago

"chairman federal reserve" Discussed on Vox's The Weeds

"And it's completely changed. The role like the concept of a central bank and people may remember when donald trump started complaining about the fed Like that was considered very inappropriate. Right and i remember when obama was president. You know i would. Sometimes ask members was administration What they thought about different fred decisions and they would always always always say. We don't comment on monetary policy right and that's not how it was before volk like before volcker chairman federal reserve is an important government job which like other important government jobs. It was like considered like of course politicians would weigh in on what should be going on but the lesson that was taken away from. This was both that like raising interest rates and provoking recession was good but also that you needed to have this whole conceptual apparatus to like create the possibility of this like deliberate infliction of suffering because otherwise like things would naturally spiral out of control and that goes back to the sort of conventional story of how inflation got so high in the first place right. Which is that. The fed had spent the seventy s. Or maybe as you going all the way back to the late sixties being just a little too schill about small increases in inflation right and specifically an idea that the fed was a political actor that was serving the interests of politicians in the us government. And i think the conventional explanation for what happened is that that undermine the credibility of the fed. And so what you're talking about about sort of this image of paul volcker as hard asks. Who's willing to make tough decisions in cultivating that image was the goal because when you cultivate that image you're sending a message to markets that they mean business and are not going to back down so not his immediate predecessor but two predecessors before him was a guy named arthur burns who was fed chair. Hugely respected economists uh From nineteen seventy two seventy seven. I believe and he viewed himself. In addition to being the head of the fed as a key policy adviser to richard nixon so he would attend cabinet an economic advisor meetings. He was in constant conversation with richard nixon. And we know now from from the nixon tapes and it was widely rumored at the time that nixon was basically ordering him around. Nixon was saying you can't raise interest rates too high because then you to run for reelection. And i can't win reelection. If you engineer recession he was asking burns. Coordinate with with the policies of his treasury. And i think the diagnosis. The paul volcker and economists would say is that really undermine the fed it sent a message to the entire world that the fed wasn't going to do anything politically costly tundra mine inflation and it's important to note here as well that that the dominant theory of inflation in economics today revolves around expectations. That there's a sense that that inflation can be a self fulfilling prophecy that if i think that prices For my the input goods for the thing my business produces Are going to go up in the future. Than i am going to raise my prices now in anticipation of that and if i think as a worker that the things i spend money on are going to reisen in price in the future i'm going to demand higher wages and so you can get these processes happening based on people's expectations for the future that can lead to inflation happening now and i think the standard economic story of what happened in the seventies was people's expectations for inflation became unanswered in part because no one expected the fed to do anything that the fed refused to send messages that they wouldn't take away the punch bowl to use the metaphor that a lot of central bankers use that they wouldn't stop the party when it got out of hand and once people are convinced that they won't stop the party when it gets out hand people start to really worry about it getting out of hand which in turn leads to ongoing latian and these of cascading effects. I mean how much of this is. All you touched on this earlier dylan but i you know in terms of lbj's biography. But i think it's you know it. It seems kind of generational true for a lot of these other jobs as well. How much of this is just fighting. The last war over concerns about the great depression and the understanding that like when mass unemployment is within living memory for most of the electorate that like a rise in unemployment really is the problem that needs to be avoided rather than any other kind of shocked of the economy. I think that's exactly right that everyone. In this generation of economists with the possible exception of milton. Friedman is rid of captivated by the great depression as as the ultimate failure and even building friedman he. He was obsessed with the great depression and that was used as the great economic calamity of ruins. Lifetime and a lot of people pleased blame on off the fed and on the congress for not being stimulated enough for for not taking aggressive enough actions. Certainly until fdr maybe even during fdr. And so. i. I think you're exactly right that that leads to a posture that the fed should be supporting congress when it wants to spend a lot of money to keep unemployment low. There was also a leaf in a concept called the phillips curve which is still important in economics but it doesn't have sort of the revered plays that it had before the great inflation which holds that there is a pretty strict trade off between unemployment and inflation that if you cut unemployment to low you might get into a situation where you you have a fixed amount of people working and the dollars to chase them keep increasing and so wages. Keep getting bit up And get inflation. And i think the takeaway from the phillips curve concepts in the sixties for lbj jfk's advisors to some degree for nixon's advisors. Was we kinda have to accept some inflation because the alternative is we jack up unemployment and that's unacceptable and so part of i think the historical memory of volker as this admirable hard ass is in contrast to those kinds of of people. People like arthur oaken or alvin. Hansen that this earlier generation of economists were so terrified of raising unemployment that they wouldn't do anything to keep inflation under control and it took someone like fulcher to be less romantic about that like it. It seems proving that empirical theory that like as long as you were managing employment and inflation kind of both in tandem. You wouldn't have both rising at the same time breaking that empirically. Seems like it also created a problem for the politics right where you know. My kind of non economist nor me brain has a lot of trouble seeing inflation as a genuine problem for like pocketbook economics in the same way that unemployment is but when you have both of those things rising at once then you have all of a sudden a really acute pain for a lot of people which seems like it turns inflation into the issue that if you really believed in the phillips curve you would never see as a big political problem. And that's also where i think from the vantage point of volker in the late seventy is swiped. You'd look at the original rise in inflation in the late sixties when inflation having been very low came to be higher but it wasn't per se ha and the thinking of the johnson administration economist in particular was like look. This is way better than the alternative. And i think it was similar to what you will hear from the vitamins duration today right which is like in an ideal world. Perhaps we wish prices were not going up as much as they are in nineteen sixty-seven but like unemployment is low. We did this whole civil rights. Act thing we have a war on poverty going on like we are trying to incorporate like all these like baby-boom kids into the economy were trying to create opportunities for african americans who've never had them before we're trying to stop communism right and so it's like four percent..

fed volcker chairman federal reser paul volcker schill richard nixon arthur burns nixon reisen volk donald trump depression us government Nixon obama cabinet lbj jfk treasury lbj congress arthur oaken
"chairman federal reserve" Discussed on Ron Paul Liberty Report

Ron Paul Liberty Report

03:20 min | 6 months ago

"chairman federal reserve" Discussed on Ron Paul Liberty Report

"They were hopeful that they would get Trump you know Impeachment thrown out of office and didn't happen but they were responsible. I believe for trump not being able to get a second term. I mean it has to have played a big part and there's one other factors too but that I think this revelation is something because they are very very blunt they they don't even pretend to think there are a news media you know they're good job is political and you know this goes back to the old thing the story about this historic thousands of years even is Who sets who sets the tone of truth. Who tells the truth. And whether it's It's government or whether it's politicians or just what this proves that they don't have they. Don't the people at Cnn they do not endorse the principle that there is such a such a thing called right and wrong good bad and that was one of the things that size pretty simple most people would say. Yeah there's a right way and a wrong way and and And and this is a real thing but the they reject it and totally so what they're doing. They don t. There is no way that cnn people would have ever any sense. The gill you know. Maybe i shouldn't have told so many lies. Because they they see themselves as or dane to be the arbiter of truth and this. This is where the real problem is. Because there's there psychopathic when it comes to that. They whatever they say and do that is what is what is right. so governments have been the total authorities. Sometimes it's a political party and guess what total authoritarianism endorses principle wholeheartedly. And you see that increasing in this country because As as that increases with the power of the state to determine right and wrong what you see is the diminishing of the principle of the spirituality of society where individuals are supposed to be responsible for leading a decent life and following the rules of honesty and the founders understood this principle very well because they fretted about the fact that well. Yeah this is this we agree. We have a good idea here but nobody should expect it to l- ask if the people become irreligious and and don't pay attention to right and wrong and look at what honorable people do. So that is what i think is We're seeing and witnessing the destruction of our culture and i think we can see where the problem is and You know just you know tinkering around on the edges of even even You know they think well the real problem is is we have to stack the supreme court or we need a new chairman federal reserve or something like that is a technical thing that has nothing to do with this major Who who is the determinator of the right and wrong and the truth is writing notes as you were saying as you were speaking cynicism but i think you're right psychopath psychopathy. Cynicism was too weak but the other thing and there are so many of these clips from that from this undercover recording..

Trump trump second term Cnn thousands of years one of the things one other factors these so many
"chairman federal reserve" Discussed on C-SPAN Radio

C-SPAN Radio

03:43 min | 11 months ago

"chairman federal reserve" Discussed on C-SPAN Radio

"An investing loan to an airline that's under 40 27, Any money on 2026 will come back Visa be that's so again. Section four oo three section 4027 section 4029 and again I personally negotiated this language in again. Congress has the ability to change this if they think the money should be spent otherwise. Secretary Evolution. You and I talked regularly during those negotiations. I was a strong advocate for his large exchanged civilization fund dollar amount as possible so that both the Treasury and the Federal Reserve would have maximum firepower to put out what we did not fully understand would be what would happen in the in the coming weeks or coming months with the nature of the virus. And so we are in the midst of this negotiation at a very, very large exchange Stabilization fund absolutely cares. $454 billion in Exchange Stabilization Fund. How how many dollars are allocated to the exchange Stabilization fund again? We we allocated something like $20 billion from the S F for the pre cares facilities prior to the cares act. As I said. Reference to the Fed. Those facilities don't have this restriction and still exists. And there's still something like you know an additional $50 billion that could be used in the future for emergencies, which would support another 500 billion and and again. I want to thank Congress for giving extraordinary authority to the secretary of the Treasury for $500 billion, As people have noted, many people criticized that authority and I'm merely following the long return. That authority back is Congress intended. So, Charon pal. These facilities of the feds served a very important purpose in the early days, their utilization in recent months it not significantly changed in dollar value of fed lending facilities, and so the four remaining facilities are still important as a lender of last resort facility, of course. And so I want to thank you for your work to toe stand up those facilities and your work and blast in the last eight months of this year to stand up abilities that were stood up and the fullness of the last of the financial crisis of 789 6020 10, U Should more facilities and eight months go actually in three months than they did in four years. So thank you to you the stuff. After the Federal Reserve for their solid great work to support our economy and to ensure that this health crisis that coming economic crisis did not become a financial crisis. I want to commend you for that. Finally, I want to note That I have consistently been an advocate of the independence of the Federal Reserve for making monetary policy and supporting our economy. I do think it's important, important Hallmark, whether it was chair Yellen and your seat chairman, pal or your service as chairman, Federal reserve that we honor the the independent policy making Monetary policy decisions of the Federal Reserve. And I wanna thank you for leadership. You're back. Thank you very much..

Federal Reserve Exchange Stabilization Fund Congress Treasury secretary chairman Charon Hallmark Yellen
"chairman federal reserve" Discussed on WCBM 680 AM

WCBM 680 AM

07:28 min | 1 year ago

"chairman federal reserve" Discussed on WCBM 680 AM

"Funky business love anyway. And if you want to call in asking questions for 1090266 We do have Paul on the line. So we're gonna go to Paul in a second, but we probably have time for another caller two for 1092266. 80. If you want to call in and ask a question, so we're going to go to Paul in Dundalk, Paul and Dundalk. Can we help you? How you doing? Yeah. My wife passed away in 2019. So one or 2019 act because I was still able to play married but on 2020 I will have it accurate to say that I will have to playing single. It's all that I can play about 73. I have kids at all that I hear it. Yes, absolutely accurate. So it's your It's your marital status on December 31st of the year. So if on December 31st of the year Your your, you know, And you started the year single. Now I should take that back. If you have a spouse dies during the course of a year, you can file joint for that. You're even fell in love the day or two. But on December 31st before that whole entire year, you were not married and still not married on December 31st and you're not married. All right now he had a 4 50 70 that hay was getting Where are the the year She passed away and they used the multiplier. I'm gonna say a 700.26. Now, after after I let them know that she passed away. I got years use that more fire. But for 2020, they went to a single payer cable. And they're using a 0.15 balls supplier, which means I'm getting almost twice as much from her for 50. 70 isn't accurate, or can I lots of lots of problems there. Okay? So let me explain. Let me tell you your air first. Okay? You need to be 4 December 31st of this year, my friend. You need to contact the 4 57 B. And you need to tell them you want to do a direct roll over into your own IRA. That's what they had told me. But when I do that And I lose. Quite honestly. He was getting 3.5%. I want her money. Well, you could go to your own. You know? Well, I hear what you're saying. I I hear what you're saying about the 3.5%. But if you want, Teo, if you want to get away from that you're going tohave to roll it over to your own IRA, and it's not going to get forced to take out larger amounts. All right. Well, that that's what they said to wait a minute. Now wait a minute. There's still another part to this equation. You you have no no required minimum distribution in 2020. That's the law. They bypassed. They forgave rmds for 2000 and 20 completely fully absolutely without exception. Right. What we did that way. I mean, I did that. I did not take the RMP for 20 that is that. Okay, well, then, good. Now you roll over that money to your ire a before the end of this year. And you're going to go back to your own. What's called the the word I'm looking for the the minimum minimum distribution tables. Right? The traditional one. Where is you and somebody traditionally 10 years? Or theoretically, 10 years younger than you how that table is calculated. And when they were, they were doing her calculation. It was probably 3.63 point. 8% in one of your calculation will be somewhere around 4% at the most. Trust me when I do that, then I lose the ability to get that big 3.5%. Interest rate. What good that around a wise You know, you know, it was just solid. It didn't fluctuate. I lose the ability to get that because That was only available in her for 57 b through our employer, right? Yeah, and I understand that, but you know if they're not willing to set up your own account as a surviving spouse that you can keep that then your only option to get away from that is to go to an IRA. All right. Well, I preach here. You verify. You know, basically what I had heard, Um and okay, so now we set all of it and I'll let you go. Where do you see that? The market going on November 12. And when we finally find out his president Why don't we say it all the time. We don't think the market cares Who's president. What the market cares about my friend is the Federal Reserve Chairman, Federal Reserve Chairman are a million times more important to the stock market than presidents. Presidents can affect an industry. They can affect a specific market like the Chinese stock market. Trump beat upon China and the China's stock market did poorly because of all the things that he was doing and saying to them. The market. Obama beat upon the coal industry bankrupted 90% of the coal stocks in the country. OK, so they can affect they can affect industries. But they don't tend to affect the market as a whole and s o. You know, whoever gets elected, you know, And actually, the funny thing is, is that if you look at the history of, and this is just coincidence, this isn't because Democrats have done anything good. But the coincidence is that markets have done better. With with Democrats in office, then it's ever done with Republicans on average, but it's a coincidence. It's not because Democrats do anything better for the markets or not. Gentlemen said that this morning and I had heard that yes, well, you have a great time D fade and I appreciate it. Your help I listen all the time. Right, Paul? Good question. Very good question. And you know, some of our listeners might wonder what is a 4 57 B fell. 4 57 B is a governmental deferred compensation plans If you work for the You know, for a school system or for the state of Maryland or Baltimore County. I know Baltimore County specifically has a 4 57 beat. Not all school systems have one. Not all states have one, you know, but it's a governmental deferred compensation plan that looks and acts like a 403 B if you're a teacher. And it looks and acts like a 401 K if you're more common type of employer.

Paul Dundalk president Baltimore County Federal Reserve Federal Reserve Chairman hay China Teo Obama rmds Um Maryland Trump
"chairman federal reserve" Discussed on KGO 810

KGO 810

08:17 min | 1 year ago

"chairman federal reserve" Discussed on KGO 810

"Is the website we're getting in a doesn't want to go on the air so Doug as a question he's doing a property exchange from California to another state he's worried about prop thirteen being removed well if you're gonna exchange your property to another state prop thirteen the California law so you're not gonna have a prop thirteen as far as I know is going to carry over into another state so you're gonna be at at the mercy of that state's tax basis I know that you just go for experienced chatting with clients that have moved from California down to Arizona over to Arizona depending where they originated from that that they certainly seems to me just for my research that Arizona has a much lower tax base so if you're concerned about tax a tax base real real say property taxes then I would look towards doing exchange in two state like Arizona D. that's part of your research and if you're gonna do an exchange a property exchange which is a ten thirty five exchange we can help you with that I mean meet you might be able to go into a different type of strategy to just receive income and not deal with the toilets trash tenets and or property managers there are strategies out there that could help you affect that provided you're an accredited investor yeah okay according to new wallet hub all in hopes that they do the study and the most affected states as of last week were due to Kurt Cobain were Florida Georgia Maine Oklahoma Mississippi Kentucky New Hampshire Virginia North Carolina and Maryland that's the most affected state I cove in nineteen the least affected states were Rhode Island Wyoming Missouri Pennsylvania Arkansas New Jersey Montana Vermont Idaho and Iowa interesting I guess I expected to see California on that list all have to do a little bit more research on that obviously we know what Texas Florida and Arizona are shutting down right now we're starting to re shut down other things but that's that's interesting it I guess it's positive for us in California I was who went through a lot of pain being sheltered in place as long as we did certainly hope that we're not going to have to B. shut down again although my wife and I are are keeping it very low key very low key you know I have a when I meet with people when people come in to meet I have a user ID I have bass we have wipes we have a spit shield in the San Jose office San Jose Santa Clara county seems to be a little bit crazy good say crazier they're taking more precautions maybe it's because they were relaxing days a coal I get to get to get things up and and rolling they have a higher higher infection rate down there we're actually needing outside which is great I love it you just going to get a little warm in San Jose in the summer but we are I am meeting with people and that we are taking the proper there the the correct precautions but it doesn't mean we can't get together on zoom as well I'm the markets you know what I talked about at the top of the show nasdaq hit an all time high this week you you don't the question it comes down to do we have it is a market disconnected with with what the real economy the great we're having potential re shut downs and the stock market's going back up we've talked about you know pull back in the market after a plunge like we experienced a jury Jeremy Grantham who is it the stock market legend who's called three financial bubble says this one's a rebel but Corey but it's crazy to get a theme it any thematic understanding of where this is going Warren Buffett is quoted as saying la la land the stock market is saying is insanely disconnected it is due for a reckoning he warns and then there are some cracks in the bull market thesis that is that is that according to a CBS market watch you're talking about the cracks in the marketplace you know this market in many respects the bull market it's all about trying to make sure you take advantage of the market place the markets turned everything is positive right now so for me as a manager as a money manager member we're strategic asset class money manager we believe in buying and holding but not forever when the market tells us what our disciplines tells it's time to get out of the market and that's what we did you know if you're in our model portfolios we had you out March thirteenth but but we started getting back into the market after we had the trough and the tech to cold were telling us that we should start getting back into then we took systematic steps to get everyone back in we had a defensive assets because they were were defensive right now worth things gonna go governments pretty money gold gold April small percentage of gold in the portfolios made sense why well because if it helps with the volatility helped tamp down the volatility of a portfolio it does rise in value it doesn't create any income but what does it do it's a hedge because if we have a spike in inflation goal to do really well wouldn't it government's pretty money are we have thirty trillion dollars in debt yet is the world three hundred trillion dollars in debt yet I mean was something all you have to give it some point and we could probably argue that although chairman federal reserve chair Powell was very dovish about net taking the necessary steps V. debate that he might be out of bullets to do anything the buying ten trillion ten trillion dollars of of buybacks it may be his one it now he's not portrayed it that way maybe he's doing a good job of helping keep things moving but what if something to think about what we got on the phone lines real quick and has a question and how can I help you well for many years I have the benefit of a corporation they reimbursed medical expenses up to five thousand dollars a year corporation will cease to exist on the end of this rock what a medical savings account the of any value your main sacrifice you are you do you have earned income right now well that radar according to government I don't know I think I will whatever we have a different opinion yeah you do the MSA's virus it is that you can you can hold on to that money that's inside your MSA but are you possibly turn into a health a health savings account but if you don't have back out of any kind I don't have anything to lose your Medical Center well if you have no income you're not gonna be able take advantage of that that's the challenge okay that's what I want yeah well the preaching to phone because the phone call and yeah I think we all worked really hard for our money but did you know that you could have guaranteed income for life when we come back we'll talk about that and much much more eight six six four nine six twenty three hundred you're listening to the Gregg o'donnell financial our god I love them the only five radio network.

Doug California
"chairman federal reserve" Discussed on Biz Talk Radio

Biz Talk Radio

08:48 min | 1 year ago

"chairman federal reserve" Discussed on Biz Talk Radio

"Great to be here I trust everybody had a good weekend a relaxing weekend I hope we certainly did we had a good weekend a weekend without warning it's a first time in a very long time still a little cold but no rain I saw some sunshine abundantly on Saturday a little bit yesterday so is good news course not next week a shortened week this week full week what's going on as you can imagine one is the markets markets are took a dramatic turn for the better here this morning so right now all if the day our open where it is sitting right now the futures market it would be up three percent over three percent three point two percent three a quarter percent the Dow is up seven hundred fifty six points three point two percent the S. and P. up two point eighty two percent and the nasdaq futures out one point nine percent will buy their way out nine and a half percent of thirty two dollars and twenty cents a barrel that is very good news going to be good for those oil stocks over thirty two dollars maybe we're gonna start to see a little bit and normalization coming into oil prices I wouldn't I don't think we're older breath for that but certainly that could be the case right now it's the Dow word to open or finish somewhere around where it is right now we'd be positive on the year the S. and P. already positive for the year excuse me but can you imagine the day I'll be in positive for the year after all that we've been through it only needs to go I think up close up six sixty today the browser for the year I don't know the likelihood of that I imagine all there is that there is going to be a some profit taking here this morning one respect most of this on the news of modern art indicating that they have had a pretty good results with their first round of I'm not positive data with the first round of a vaccine that all patients given a wasn't that many by the way I did receive the antibodies to resist it it took two shots to do it they think this may be odd double cycle to shot kind of vaccine isn't that interesting what would that mean for them and Turner I mean why would they do that it would double the money that they make so instead of making all a couple hundred million they'd make for five hundred million that's a huge difference I'm just saying I'm not saying that is the case but since you're starting down this road I suspect of OB a company like Pfizer one of the bigger companies probably coming out and it'll be a single dose shot look this is very very good new news editor on the heels of some things that chairman Jerome Powell said yesterday on sixty minutes so the fed chair indicating on sixty minutes that you know are the economy faces a lot of uncertainty in the recovery he he indicated that the US could take well over one year or to recover from the impact impacted that back indem ich which certainly is a possibility he also indicated that we could be in fact all year next year he's looking at the possibility that we could see a thirty percent decline in GDP this year a thirty percent decline that is well above my estimates my estimates were for a somewhere under nineteen percent ninety percent or under for this quarter alone in a negative quarter yesterday so that would be our last quarter so that might put us in around twenty five percent so he may maybe pretty close on that but they're also calling for a ten percent positive side in the third quarter of this year which is a very very unlikely to happen so we have a negative first a negative second that puts us up officially into a recession and then we have a very positive third quarter the third quarter he's not going to be enough to get a positive for the year last we have an amazing fourth quarter which is possible if things keep going from a vaccine it's interesting because president are a federal reserve chairman Jerome Powell said yesterday that it probably is going to take something like a vaccine I'm sure he didn't know about this but he just said it's going to be saying they say that if you listen to your own balance sixty minutes on and I'm not you know people are going to think I sound just like him well kind of I do he says he's been saying all the same things the difference was I said it three months ago and so I would estimate that he sounds just like me president me just sound just like him out but it is your relevant he's done an unbelievable job as a fed chairman and it's just seeing things for what they are and that's the one nice thing about having a non academic federal chairman federal reserve chair I stayed when it happened I was very critical of president trump for criticizing Jerome J. pal when he picked your own pal I said it may be one of the the best picks series ever made I said between him and Mike Pompeii they're probably going to be the two best pics of his administration and right now it sure looks like I'm right about that anyway our futures up dramatically already before the news came out from a darn they were up about two and a fifty points give or take because the more of the lockdown measures were starting to go into effect so they were loosening up on the lockdown measures around the country and that was supposedly the reason why markets were up in the pre market opened this morning that's what the headline was this in the middle of this the world's third largest economy has now reported that they have already slipped into recession so that makes number one number two or number three all slipping into recession now with what is happened with the angel of the chip manufacturers no longer being able to export the chips to China that is going to have a devastating impact on China's economy so there are a recession could go into depression as a result of this it doesn't look like president trump or anybody else is going to let up on that restriction now they won't hostile and try to get new supply chain manufacture but that's not going to happen overnight so this is going to have a Debbie devastating impact on another positive note the U. S. auto industry today today is starting to ramp up so as of today both Chrysler fiat Ford and GM will be opening up their assembly line manufacturing Ford is starting in Kentucky with their two plants there are one of them produced one of the plane's produces their F. two fifty and I think three fifty and the other plant produces the what's the big SUV I don't know this is I don't I can't think of a right now and the yeah escalate well the escalade no the anyway it'll come to me also the Lincoln continental are big S. U. V. so that's the other and that's what the other plant produces so one is the big SUVs the other plan is to fifty.

"chairman federal reserve" Discussed on Biz Talk Radio

Biz Talk Radio

10:59 min | 1 year ago

"chairman federal reserve" Discussed on Biz Talk Radio

"The injured and carry out the death at fifty seven people ended up dying because of the eruption the U. S. G. S. today says the mountain isn't showing any signs of any corruption that improvements in technology have greatly increased the ability to predict few corruptions of I'm Chris Barnes the dropkick Murphys will perform a live concert from MT Fenway Park according to the band the show dubbed streaming out of the playoff groups on shipping up to Boston will be streamed live on the band's Facebook YouTube and Twitter pages on may twenty ninth Bruce Springsteen will also be location together they'll play the song a Springsteen song in a post on its website the group said it is the first in history to play full show sports stadium and the first to play on the dirt and grass the family parks in field the concert which is free of charge will raise money for Boston's resiliency fund habitat for humanity and feeding America for USA radio news I'm John hunt the Bible says be not the same one several men so it actually also read to financial issues where we align reality with true conservative talk radio you can count on financial issues that you need to know where Fraser for our children this the last best hope of man on earth I will sentence them to take that last step and one thousand years of the government that common sense that we all use now here's your host Dan Celia good morning welcome back to finance your shoes on dance it is great to be here I trust everybody had a good weekend a relaxing weekend I hope we certainly did we had a good weekend a weekend without warning the first time in a very long time still a little cold but no rain I saw some sunshine abundantly on Saturday a little bit yesterday so is good news course not next week a short week this week full week what's going on as you can imagine one is the markets markets are took a dramatic turn for the better here this morning so right now all if the gal water open where it is sitting right now the futures market it would be up three percent over three percent three point two percent three a quarter percent the Dow is up seven hundred fifty six points three point two percent the S. and P. up two point eighty two percent and the nasdaq futures out one point nine percent will buy their way out nine and a half percent of thirty two dollars and twenty cents a barrel that is very good news going to be good for those oil stocks over thirty two dollars maybe we're gonna start to see a little bit and normalization coming into oil prices I wouldn't I don't think we're older breath for that but certainly that could be the case right now if the Dow word to open or finish somewhere around where it is right now we'd be positive on the year the S. and P. already positive for the year excuse me but can you imagine the dal being not positive for the year after all that we've been through it only needs to go I think all up close up six sixty today the browser for the year I don't know the likelihood of that I imagine all there is that there is going to be a some profit taking here this morning one respect most of this on the news of modern art indicating that they have had a pretty good results with their first round of I'm not positive data with the first round of a vaccine that all patients given it wasn't that many by the way I did receive the antibodies to resist it it took two shots to do it they think this may be a double cycle to shot kind of vaccine isn't that interesting what would that mean for them to darn I mean why would they do that it would double the money that they make so instead of making all a couple hundred million they'd make for five hundred million that's a huge difference I'm just saying I'm not saying that is the case but since we're starting down this road I suspect of OB a company like Pfizer one of the bigger companies probably coming out and it'll be a single dose shot look this is very very good new news editor on the heels of some things that chairman Jerome Powell said yesterday on sixty minutes so the fed chair indicating on sixty minutes that you know are the economy faces a lot of uncertainty in the recovery he he indicated that the US could take well over one year or to recover from the impact impacted that back indem ich which certainly is a possibility he also indicated that we could be in fact all year next year he's looking at the possibility that we could see a thirty percent decline in GDP this year a thirty percent decline that is well above my estimates my estimates were for any somewhere under nineteen percent ninety percent are under for this quarter alone in a negative quarter yesterday so that would be our last quarter so that might put us in around twenty five percent so he may maybe pretty close on that but they're also calling for a ten percent positive side in the third quarter of this year which is a very very unlikely to happen so we have a negative first a negative second that puts us up officially into a recession and then we have a very positive third quarter the third quarter he's not going to be enough to get a positive for the year last we have an amazing fourth quarter which is possible if things keep going from a vaccine it's interesting because president are a federal reserve chairman Jerome Powell said yesterday that it probably is going to take something like a vaccine I'm sure he didn't know about this but he just said it's going to be saying they say that if you listen to your own balance sixty minutes on and I'm not you know people are going to think I sound just like him well kind of I do he says he's been saying all the same things the difference was I said it three months ago and so I would estimate that he sounds just like me having me just sound just like him out but it is your relevant he's done an unbelievable job as a fed chairman and it's just seeing things for what they are and that's the one nice thing about having a non academic federal chairman federal reserve chair I stayed when it happened and I was very critical of president trump for criticizing your own text pal when he picked your old pal I said it may be one of the the best pics that he's ever made I said between him and Mike Pompeii they're probably going to be at your best pics of his administration and right now it sure looks like I'm right about that anyway our futures up dramatically already before the news came out from a darn they were up about two and a fifty points give or take because the more of the lockdown measures were starting to go into effect so they were loosening up on the lockdown measures around the country and that was supposedly the reason why the markets were up in the pre market opened this morning that's what the headline water this is in the middle of this the world's third largest economy has now reported that they have already slipped into recession so that makes number one number two or number three all slipping into recession now with what is happened with the angel of the chip manufacturers no longer being able to export the chips to China that is going to have a devastating impact on China's economy sell their recession could go into depression as a result of this it doesn't look like president trump or anybody else is going to let up on that restriction now they wall hostile and try to get new supply chain manufacture but that's not going to happen overnight so this is going to have a Debbie devastating impact on another positive note the U. S. auto industry today today is starting to ramp up so as of today both Chrysler fiat Ford and GM will be opening up their assembly line manufacturing the word is starting in Kentucky with their two plants there are one of them produced one of the plane's produces their F. two fifty and I think three fifty and the other plant produces the what's the big SUV I don't know this is I don't I can't think of right now and the yeah escalate well the escalade no the anyway it'll come to me also the Lincoln continental big S. U. V. so that's the other that's what the other plant produces so one is the big SUVs the other plan is to fifty maybe three fifty I'm pretty sure reduces their super duty anyway that's good news that's going to help you to take I would suspect the to the middle of next month before they really get ramped up have enough employees and everybody showed up all right we'll be right back right after this that's the nature.

Chris Barnes Murphys
"chairman federal reserve" Discussed on Defenders of Business Value

Defenders of Business Value

06:43 min | 1 year ago

"chairman federal reserve" Discussed on Defenders of Business Value

"You can say what you think about it. You WanNa make supply chain WANNA vertically integrate that sucker but at the same time you don't WanNa have no visibility to and people don't understand that with business option you take out one way or like three or four candy jar country. I mean you start taking out one or two plans. You've taken out a lot of things that people don't understand. You can't have a lack of visibility. Your supply chain so what you do is you sell. You sell your suppliers product liability and recalls. He solve all this stuff. You'RE GONNA GET THE BILL FOR ANYWAY. Right. You'RE GONNA pay the bill recall. Thanks you say courtney the strawberries or dog food or whatever it is with your insurance now without. You'RE GONNA buy it from me. It's sickening thousand franchise you by the way Donald Franchisees McDonald's and so technology will now enable other company senior living for decades. And when you get third party risks that you're selling your supply chain. Guess what you can. Do you sell yourself. Billion Dollar Power Pandemic Insurance at twenty one percent tax deductions. Then you start to take that pandemic tower and you could lay it off on reinsurance or go to renaissance into also insurance securities or the painter. I sure exact- passes you can link that up the government. So this is how a risk major like me. He's GonNa think in fact that's the insurance risk if they don't cover head damage in business direction for corona virus there'll be no market for businesses or who in the right mind is ruptured if it doesn't include the one risk that ever shut down what will happen is they'll create that. L. Create a new form of his captains trade association captors of Risk Retention Groups. Many issues net cut off. Its own nose despite its face on. Yeah and the funny thing. One of the things that And just move into business valuation for a second so business. Valuation IS CO is comprised of earnings. Risk an expectation. Two of the three. That's in your Bailiwick. And and that's what prompted me was I saw that you've written an article about about goodwill and and how this company's goodwill evaporated and in this case it was a contamination matter. But can you speak to to how insurance plays in impairing or amplifying business value? Yeah so I mean you know. I don't think I actually love to do. My crew is work on mergers and acquisitions must have thirty or forty due diligence and closed on it doesn't are so different acquisitions. And you know some very familiar with the representation warrants inside of this and you hear talk to like the Cyber Cokes and the FBI. They would tell you that one of the reasons they had a cyber claim where I guess this company had a Chinese national came and stole all their trade secrets China and then and then they didn't want to file anything would give because they're in the middle of solemness the big about that. I mean. That's a very bad fate back with this year but that happened right and so they're not reporting that because they report that they were happening. There's no value to the eligible property in the ADS. That's total violation of reverence. Asia the warranties. Those kind of examples I mean risks are things that you know hiding the scenes. It's kind of that example before about you know bill cosby or near Max or Harvey Weinstein or any of the Bernie madoff any of the things that we thought used to be good and then you find out there was something wrong in their DNA or in the risk and it just came out. We were all at once and and that's basically what we're finding out now. Society was always this way but we had the benefit of you know Walter. Cronkite only had thirty minutes that bang out the losers by so much bad news. You could hear the day Here I mean now. Twenty four seven three sixty five this still and anytime. Anybody doesn't need stupid. We've already heard about it. You know eight ways Sunday so that the risk of loss is much faster and so the awareness. Oh my gosh risk. Israel's response really important and then we can now see example underpass it. You're messing up and got lucky. Now you can mess up not no and then see your neighbor could smack and go awhile. That could happen to be now. Sure we'll win. But when you quantify risk for small business you know and this is one of the biggest challenges that we have is that and it's kind of like we were talking about the stimulus. I mean some of the larger companies that had greater EXA access to two advisers. That could push this thing pushed application process through you know benefited them but the smaller the smaller businesses. That you know they. They don't have that that benefit so where I'm heading with this. You know when you start looking at risk and you know I understand that you know size size matters. As far as business risk goes but as as a risk manager how do you? How do you see businesses? And where do you see the the challenge that they have with risk? I oh great aggregrate story for this actually one of the great things in on the number of this or not whether they are going to digest company my work there as you would actually get the have much with the executive team including timbers and those are two. They're really nice rate guys. Nice to say they could run that company at their last name. Johnson and Richard Smoker in particular. On very interesting guy who vice-chairman Federal Reserve during the great recession. And just a great sense of humor. So I was there I got on the job he asked me said. Hey Zac what's my number one risk and I could tell just talking to a good sense of humor. I wouldn't have done this complex. Ammos like auto. He's hired you paying all this money. Must buy number one Richard. I'm like genie telling thing walls. On which one of your twenty four production silly sixties centers through headquarters that the one hundred point five and a half million dollars revenue? Whatever cool stuff you have at home that I don't know about it most important to you. Isn't it one of the one of the Jelly Plants which bears your name? I said I don't think it is because it's already one hundred percent capacity and so you wanted to listen on the okay that's right. I'm like I bet the most important thing to you by your plan right now because right now. It's the great recession and peanut butter. The cheapest thirteen in store Peter Pans out for the count on a recall. So they're twelve percent market shares up for grab and you're running this planet. One hundred forty percent of capacity Crocker ranted at. Who every molecule peanut butter. You make you can sell. And it's going to cost you this many thousands of dollars per every hour and you can't afford to be down and it doesn't matter whether it's a earthquake or hurricane of Tornado plan of the apes open stampede doesn't matter it also doesn't matter is really matter does it. Really matter what shuts down is what's really important is would twenty four production facilities the most part. Why is it the most important works when you start to look at things like okay? You know when you rose pants on. An industrial scale announce anything. That's out there if you search Lexington and peanut roaster. You'll find fires every night. And it's just on the half you get meals and skins in the roaster in your shooting hot air on.

risk manager Richard Smoker WANNA FBI Asia bill cosby courtney Bernie madoff Donald Franchisees Lexington Cronkite Crocker China vice-chairman Federal Reserve Walter Israel Peter Pans executive
"chairman federal reserve" Discussed on 600 WREC

600 WREC

13:45 min | 2 years ago

"chairman federal reserve" Discussed on 600 WREC

"And we are back with our final segment with Catherine Austin, fifths, has we talk about the game of missing money when you started figuring this out Katherine where you like in shock. Yeah, I was on never forget the first time we got onto the story I was sitting in my office. And my attorney was looking at the most recent HUD, financial reports, and the HUD inspector general announced that there was fifty nine billion dollars of undocumented adjustments. And they were going to simply close down their attempt to do an audit and just call it a day. Now, George if, if your bankers Saint statement and indicated that there was fifty nine thousand dollars missing from your Bank account, you wouldn't just, you know, ignore it right undocumented that's in your Bank. I think I'd go nuts and just tell them. Don't do it again. You'd get to the bottom of, you know, where the money was and what happened and you'd fix it. You don't just walk away, and we were stunned because at that point fifty nine billion was, you know, it was more than one hundred percent of the hood budget. And, and one of the things that amazed me was the extent to which you couldn't get anybody interested in this, you know, the corporate media fig news, you know, they weren't interested. Now, here's why I care. It's sixty five thousand dollars per person. It's two hundred fifty thousand for two hundred fifty million for family of four, I'm sorry, two hundred fifty thousand for family four. You're talking about money families need to, you know, the gentlemen mentioned for one ks and pension funds. You know, we're talking about the money, people need for their retirement. We're talking about the money. That's the difference between whether you're. Go to college or not, whether you own a house, or not, we're talking about a harvest of the tax payers over a twenty year period, was, which is absolutely extrordinary and many of us, don't realize it, because it's hitting us in terms of currency debasement, if you look at the real inflation rate, hitting the, you know, the basic household goods in this country over the last five years, it's been offering to eight to fourteen percent depending on where I am say percent if you go to Silicon Valley, fourteen percent, this is absolutely training. The, you know, the health and the well-being of Americans this is why we don't have enough money you know, to take care of our health at cetera et cetera. So the, you know the way they caught out of his is pretty sneaky, or has been today. It's through the currency debasement in the inflation, you know, but it's hitting everybody in this is very unifying issue. It's all of us. True back to the phones we go. Pamela in Denver, Colorado. Hi, pam. Go ahead. Hey, hi, Cochran. I wonder if that let you know that all I say they maybe eight ten years ago, I heard you talking, and I don't know what you'd said that they gave me a brainstorm. So what I have been doing is I actually horror that toilet paper I keep toilet paper on hand. I think that that's going to be the old great trade be right. When when they take all our money again. Well, what do you think of that? Running large inventories of known, perishable has been an absolutely winning thing to do because if, if prices are going up eight to fifteen percent, depending on where you are than stockpiling things that are going up in price, eight percent, a year is, you know, it's a great investment. Plus the run on the stores, people may not be able to get these goods when you need them it's funny, I've one ally swear that, of course, the biggest well, he's Weirs in brooms, if you listen to Dmitry Orlov about what happened when Russia collapsed it wasn't gold and silver. It was. Let's go next to Gordon plant city, Florida. Gordon. Go ahead. George Noory, Catherine Austin fits this. Gordon to watch. Thanks for taking my call all due respect. The twenty two billion a little bit over inflated ask think, because it's double and triple reporting. But we'll but yeah grill you not billion trillion trillion. Yeah trillion. Oh, what's what's a few orders of magnitude between friends, and then he event? But now the situation's actually worse than what you described, and I'll give you an example, and I wanna get your take you're the boss. The current laws had Dr Carson real smart. But when he was running for president he was all okay. And for providing huge student loan for college students using the tax dollar. And, and since almost ten percent of our total debt is college that that may not seem like a lot, but you cannot cut a lot, as you know, because a political reasons, so security, or national defence, and so it's gonna crash the dollar because we can completely cut that out back when you and I were kids, there was no. Tax dollars. There was no student loans at all, and that time line. And so the to propose solutions that I have and get your take I Bill fourteen fourteen which would allow student loans to be bankrupted on equal terms. The second would be to stop, that was attacking measure tuition of top of taxing the seconds to stop using tax dollars to make her year to limit college loans on tax dollars. What Trump is proposing and George, I want to give out now website note we did that last week. Gordon can only do it once in a blue moon. But go ahead, what do you think about bankruptcy for stripping? I have a great article in this code William defender for the economic hitman of student loans, and I wouldn't courage, everybody to read it but stripping the normal consumer protections, including the right to, to file bankruptcy from student loans. And from students to me, George is crossing the line from civilization to, you know, a bar Burien society. This is one of the great crimes and outrages it should never have been done. It should never have been permitted read it, what they did is they created a system where they could make more money from young people feeling than young people. Succeeding, they built a model where where kids feeling and not being able to pay their debt would be more profitable. And it's an absolute outrage and they're using the Federal Credit to do it. This is the use of government to destroy the future because when you when you engage in the fraud, inducement and entrapment, and the tricking of young people in a way that destroys them, you just write your own future is a society. Sure, do let's go to Norman and Toronto international line. Hey norman. Go ahead, sir. Yeah. I'm just wondering if getting your just depending on this, but did the government have an alternative to bailing out Wall Street and do they have a different approach their fingertips, rather than taking on all the bad debt of Wall Street? And is it still going on today? And I'll just hang on. Okay. What would have happened? Excellent question I believe they did have an alternative because law, you know, for financial system to work you need law. And what happened was lawless. It was basically taking an amount of money equivalent to the entire retirement savings in the country and loaning it or giving it to the banks. So, yeah, I think there were, there were definitely alternative, but they would mean facing up and dealing with the part of the economy, which is secret. And that was an enormous political challenge. And of course everyone for to kick the can down the road. So I don't think it was necessary. I think there other ways of dealing with it. And but of course, it comes down to the fundamental model that we're operating on. We're living with a governance system that is invisible. And we're living with explosive with an amount of the con. Enemy that a secret that is explosive in size, and to me that has to be dealt with, and the bailouts was a way of not dealing it and pushing the system down the road. Joe in the Bronx. Hey, Joseph, go ahead. Hey troy? Thanks, good Kettering, sixty minutes, Sunday, featured a segment on a Danish Bank that was cleaning laundering money for Russian oligarch, keys, and criminals to the tune. I believe two hundred thirty billion dollars if I'm not mistaken. Trump change compared to ours. So. Sorry chump change compared to our twenty one. Yes. But I'm wondering question is, as far as malfeasance corruption is concerned. What is the role of US banks all linked to the twenty one trillion? That's missing. In nineteen ninety eight's a spokesperson for the department of Justice told a reporter, I was doing research for that, the US economy launders at that time, five hundred billion to a trillion dollars of illegal monies, and, and that makes us, the worldwide leader. So the US banking industry, according to the department of Justice, the world wide leader in laundering money. And if you look at the amount of financial fraud, including the missing money, it's exploded since then. And our challenge as a society is, we have become so dependent on illegal flows, and the banking industry is become so dependent on a legal flows. I always tell people were not addicted to drugs, we're dictate to drug money, and I think, the, you know, there are many solutions, but solution number one is bringing transparency to it because we now have reached a tipping point where the essentially the organized crime flows are driving out and crowding out the healthy, you know, sort of legal Konami, and ultimately, you can't, you know, are, are we going to be global swamp or we gonna have healthy economy and productive economies, which means we're going to have the rule of law. We can't we're trying to have our cake and eat it, too. Don't working. Do these banks that are basically hiding this money show it up on their assets. Or they hide it still off of that. It's not only the problem. George now with fast fifty six we've created, you know, I just said that we there were alternatives other than bailout with fast fifty six, we've created a permanent bailout structure, so you can sell treasuries, and take the money or the assets purchase with the money and transferred to a private corporation, and keep it all, you know that, that mechanism is in place to do that. Ought infinitum you know. And I hate to say this the secretary of the treasury is now being sued because he in group of, of investors. Basically shifted the value real estate assets out of Sears before Sears went down and you have to look at us fifty six and say, are they doing the same thing with the US government, or they shifting, you know, all the all the assets that can be shifted out before they completely and radically reengineer? This thing, the good point. We've got Christian and San Pedro, California with us. Hello there Christian. How you doing in counseling? It's I've been I've been trying to tell you come on, Georgia's coast to coast, twenty get online at can. It is an owner to speak with you. I have a I guess a question that is in common. My comment is like what you said. I think that there is a secret government. I think the Trump administration's Senate tweeted by the CFR relations, you know, international banking, Coatesville. You can't prosecute these people like the Bank of International Settlements in Basel, Switzerland. That's where our Federal Reserve chairman Federal Reserve. You know, the Bank of London German think that's the all gets marching is from burns whistle. And the point is what's happening to our students with this whole student loan thing. And I'm one of them in student loan debt, and I just cannot be able to get out of it, it, it's a it's a tragedy. It's a farce. It's a ticking time bomb question. Also to you, calcium. You forward to the book crossing the Rubicon as Michael. Yeah. Was he did he hit the nail screw on the head? That essentially was the consumption of global oil, the natural gas that eventually within a hundred years that we could literally run out and again, I'd love to have a Cup of coffee with you, and talk to ours, Catherine. So, so Mike, Rupert talked a lot about peak oil. I don't agree with his theories on PICO oil, but I think there is a major problem, which I was I was watching Jimmy Rogers, speaking gold conference and somebody else them if he believe, in peak oil, he said, forget peak oil, peak everything..

George Noory Gordon Catherine Austin US fraud Norman Federal Reserve department of Justice attorney Bank of International Settleme Dmitry Orlov Katherine Senate Bank of London German Cochran Denver Konami
"chairman federal reserve" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

15:20 min | 2 years ago

"chairman federal reserve" Discussed on Newsradio 970 WFLA

"Minutes on NewsRadio WFL a. And we are back with our final segment with Catherine Austin, Fitts has we talk about the game of missing money when you started figuring this out, Katherine were you like in shock? Yeah. I was on ever forget the first time we got onto the story I was sitting in my office, and my attorney was looking at the most recent HUD, financial reports, and the HUD inspector general announced that there was fifty nine billion dollars of undocumented adjustments. And they were going to simply close down their attempt to do an audit and just call it a day. No, george. If, if your bankers was statement and indicated that there was fifty nine thousand dollars missing from your Bank account. You wouldn't just you know, ignore it right undocumented that's in your Bank. Five cents go nuts and just tell them. Don't do it again. You'd get to the bottom of, you know, where the money was and what happened and you fix it. You don't just walk away, and we were stunned because at that point fifty nine billion was, you know, it was more than one hundred percent of the hood budget. And, and one of the things that amazed me was the extent to which you couldn't get anybody interested in this. You know, the corporate media goes fig news. You know they weren't interested. Now, here's why I care. It's sixty five thousand dollars per person. It's two hundred fifty thousand for FAM two hundred fifty million for family of four, I'm sorry, two hundred fifty thousand for family four. You're talking about money to families need to, you know, the gentleman mentioned for one ks and pension funds. You know, we're talking about the money, people need for their retirement. We're talking about the money. That's the difference between whether you're. Go to college or not, whether you own a house, or not, we're talking about a harvest of the tax payers over a twenty year, period was, which is absolutely store, Jerry and many of us, don't realize it, because it's hitting us in terms of currency debasement, if you look at the real inflation rate, hitting the, you know, the basic household goods in this country over the last five years, it's been offering to eight to fourteen percent depending on where I am eight percent. If you go to Silicon Valley, fourteen percent, this is absolutely training. The, you know, the health and the well-being of Americans this is why we don't have enough money you know, to take care of our health at cetera et cetera. So the, you know the way they caught out of is pretty sneaky, or has been today. It's through the currency debasement in the inflation, you know, but it's hitting everybody in this is very unifying issue. It's all of us. True back to the phones we go. Pamela in Denver, Colorado. Hi, pam. Go ahead. Hey, hi, Catherine. I wonder if that let you know that all I, they maybe eight ten years ago, I heard you talking, and I don't know what you'd said, but gave me a brainstorm. So what I have been doing is. I actually. Oh that toilet paper. I keep toilet paper on hand. I think that that's going to be the old. Great trees be right. Then the ghost when they take all our money again. Well, what is your running large inventories of known, perishable has been an absolutely winning thing to do because if, if prices are going up eight to fifteen percent, depending on where you are than stockpiling things that are going up in price, eight percent, a year is, you know, it's a great investment, plus the run on the stores, people may not be able to get these goods when you need them it's funny, I've one ally swears, that, of course, the biggest well, he's Weirs in brooms, if you listened to me your or law about what happened when Russia collapsed it wasn't gold and silver. It was. Let's go next to Gordon plant city, Florida. Gordon. Go ahead. Oh, George Noory, Catherine. Austin fits this Gordon wanting to watch. Thanks for taking my call. All respect the twenty two billion a little bit over inflated think, because it's double and triple reporting, but we'll but yet we're not billion trillion. Oh, yeah. You're right. Yeah. Trillion. Oh, what's what's a few orders of magnitude between friends, and then he but now the situation's actually worse what you described, and I'll give you an example, and I to get your take. You're the boss of the current boss, had Dr Ben Carson's real smart. But when he was running for president he was all okay. And for providing huge student loan for college students using the tax dollar. And, and since almost ten percent of our total that is college that that may not seem like a lot, but you cannot cut a lot, as you know, because a political reasons for those security or national defence. And so it's gonna crash the dollar because we can completely cut that out back when you and I were kids, there was no. Tax dollars. There was no student loans at all, and that time line. And so the to propose solutions that I have on your take our first Bill fourteen fourteen which would allow student loans to be bankrupted on equal terms. The second would be to stop, that was attacking measure tuition of the top of taxing the seconds to start using tax dollars to make guarantee to limit college loans on tax dollars is what Trump is proposing and George, I want to give out my website. We did that last week. Gordon can only do once in a blue moon. But go ahead. What do you think about bankruptcy for the stripping? I have a great article in this code William decent or for the economic hitman of student loans. And I wouldn't courage everybody to read it but stripping the normal consumer protections, including the right to, to file bankruptcy from student loans. And from students to me, George is crossing the line from civilization to, you know, a bar Burien society. This is one of the great crimes and outrages it should never have been done. It should never have been permitted. Read it what they did is they, they created a system where they could make more money from young people feeling than young people. Succeeding, they built a model where where kids stealing not being able to pay their debt would be more profitable, and it's an absolute outrage and they're using the Federal Credit to do it. This is the use of government to destroy the future because when you when you engage in the fraud inducement and entrapment and the tricky. Of young people in a way that destroys them, you just write your own future is a society. Sure, do let's go to Norman and Toronto international line. Hey norman. Go ahead, sir. Yeah. I'm just wondering if getting your opinion on this, but the government to have an alternative to bailing out Wall Street and do they have a different approach at their fingertips, rather than taking on all the bad debt of Wall Street. And is it still going on today? I'll just hang on. Okay. What would have happened? Excellent question I believe they did have an alternative because law, you know, for financial system to work you need law. And what happened was lawless was basically taking an amount of money equivalent to the entire retirement savings of the country and loaning it or giving it to the banks. So, yeah, I think there were, there were definitely alternative, but they would mean facing up and dealing with the part of the economy, which is secret. And that was an enormous political challenge. Of course, everyone for for to kick the can down the road. So I don't think it was necessary. I think there are other ways of dealing with it. And but of course, it comes down to the fundamental model that we're operating on. We're living with a governance system that is invisible. And we're living with explosive with an amount of the car. That secret that is explosive and size. And to me that has to be dealt with, and the Bill was a way of not dealing it and pushing the system down the road in the Bronx. Hey, Joseph, go ahead. Hey, george. How are you? All right. Thanks. Good. Coach sixty minutes Sunday, featured a segment on a Danish Bank that was waning ring money for Russian oligarch is, and criminals. To the tune. I believe at two hundred thirty billion dollars if I'm not mistaken change compared to ours. So. Sorry, Joan change. Compared door twenty one. Yes. But I'm wondering question is that as far as malfeasance corruption is concerned? What is the role of US banks linked to the twenty one trillion? That's missing. In nineteen ninety eight's a spokesperson for the department of Justice told a reporter, I was doing research for that, the US economy launders at that time, five hundred billion to a trillion dollars of illegal monies, and, and that makes us, the worldwide leader. So the US banking industry, according to the department of Justice, the world wide leader in laundering money. And if you look at the amount of financial fraud, including missing money, it's exploded since then. And our challenge as a society is, we have become so dependent on illegal flows, and the banking industry has become so dependent on a legal close, always tell people, we're not addicted to drugs, we're dictated to drug money, and I think the, you know, there are many solutions, but solution number one is bringing transparency to it because we know have reached a tipping point where the essentially the organized crime flows are driving out and crowding out the healthy, you know, sort of legal Konomi, and ultimately, you can't, you know, are, are we going to be a global swamp? Or are we gonna have healthy economy and productive economies, which means we're going to have the rule of law? We can't we're trying to have our cake and eat it, too. Don't working. Do these banks that are basically hiding this money show it up on their assets. Or they hide it still off of that. It's not the problem. George now with fast fifty six we've created, you know, I just said that we there were alternatives other than bailout with fast fifty six, we've created a permanent Bill structure, so you can sell treasuries, and take the money or the us. It's purchase with the money and transferred to a private corporation, and keep it all, you know that, that mechanism is place to do that. Ought infinitum you know. And I hate to say this the secretary of the treasury is now being sued because he in group of, of investors. Basically shifted the valuable real estate us. It's out of Sears before Sears went down and you have to look at us fifty six and say, are they doing the same thing with the US government, or they shift in, you know, all the all the assets that can be shifted out before they completely and radically reengineer this thing. That's a good point next up Christian, and San Pedro, California with us. Hello there, Christian George, how you doing in Kaplan. It's I've been I've been trying to tell you come on, Georgia's coast to coast, twenty get online at can it as an owner to speak with you. I have a I guess a question that is in common. My comment is like what you said. I think that there is a secret government. I think the Trump administration's than penetrated by the CFR relations, you know, international banking, Kotil. You can't prosecute these people like the Bank of International Settlements in Basel, Switzerland. That's where our Federal Reserve chairman Federal Reserve Bank of London. The German think that's the oldest mortuary is from burns whistling. But the point is, I was happy to our students with this whole student loan thing. And I'm one of them in student loan debt and I just cannot be able to get out of it a. It's a tragedy. It's a I it's a ticking time bomb. But one question to you calcium, you forward to the book crossing the Rubicon, Michael. Yeah. Was he did he hit the nail squarely on the head that essentially with the consumption of global oil, the natural gas that eventually within a hundred years that we could literally run out and again, I'd love to have a Cup of coffee with you and talk while I was Catherine? So, so Mike, Rupert talked a lot about peak oil. I don't agree with his series on PICO oil, but I think there is a major problem, which was I was watching Jimmy Rogers speaking of gold conference and somebody else if you believe in peak oil, he said, forget, peak oil, its peak everything. And the reality is that we have, you know, we have used a lot of the resources on the planet, and we've mind, a great deal of resources we have a growing population and because we're globalizing and the per capita income's around the world arising that puts more stress on resources. And I think it's one of the reasons you see clearly a tremendous interest in space, because one way to deal without his to access resources and, and move out into space, which I think is going to happen. Decision has been made to make us a multi planetary civilization. But I, I agree that part of what is hap-. Happening. Now is the tension of more and more people with more and more income globally competing for resources that are getting harder. You know, it was funny. I was at a great mining conference two years ago, and basically, if you listen to presentation of, of company after company, they were having to dig further and dig deeper, you know, to get less stuff, and they were having to take more political risk. And so their productivity they were fighting a productivity curve, which was extraordinarily. I think it's happening planet wide. It's called peak everything. Katherine, how do people get this report, we're talking about? So if you come to Salerii dot com, you can subscribe to the.

Christian George Catherine Austin Gordon us Katherine fraud department of Justice Norman attorney George Noory Dr Ben Carson Bank of International Settleme Jimmy Rogers Sears Silicon Valley US government Bill Denver
"chairman federal reserve" Discussed on WCBM 680 AM

WCBM 680 AM

03:20 min | 2 years ago

"chairman federal reserve" Discussed on WCBM 680 AM

"In nineteen ninety eight's a spokesperson for the department of Justice told a reporter, I was doing research for that, the US economy launders at that time, five hundred billion to a trillion dollars of illegal monies, and, and that makes us, the worldwide leader. So the US thanking industry, according to the department of Justice, the world wide leader in laundering money. And if you look at the amount of financial fraud, including missing money, it's exploded since then. And our challenge as a society is, we have become so dependent on legal flows, and the banking industry is become so dependent on a legal flows. Always tell people were not addicted to drugs, we're dictate to drug money, and I think the, you know, there are many solutions, but solution number one is bringing transparency to because we know have reached a tipping point where the, you know, essentially the organized crime flows are driving out and crowding out the healthy, you know, sort of legal Konomi, and ultimately, you can't, you know, are, are we going to be global swamp? Or are we gonna have healthy economy and productive economies, which means we're going to have the rule of law? We can't we're trying to have our cake and eat it too not working. Do these banks that are basically hiding this money show it up on their assets. Or they hide it still off of that. It's not a problem. George now with fast fifty six we've created, you know, I just said that we there were alternatives other than bail out with fast fifty six, we've created a permanent bailout structure, so you can sell treasuries, and take the money or the assets purchase with the money and transferred to a private corporation, and keep it all, you know that, that mechanism is in place to do that. Ought infinitum you know. And I hate to say this the secretary of the treasury is now being sued because he in group of, of investors. Basically shifted the value real estate assets out of Sears before Sears went down and you have to look at us fifty six and say, are they doing the same thing with the US government, or they shifting, you know, all the all the assets that can be shifted out before they completely in radically reengineer this thing. That's good point. Stuff. We've got Christian and San Pedro, California with us. Hello there, Christian Georgie how you doing in Kaplan? It's I've been I've been trying to tell you come on. Georgia's coast to coast to get online at can it as an owner to stick with you. I have a I guess a question and that is in common. My comment is like what you said. I think that there is a secret government. I think the Trump administration's been penetrated by the employee relations, you know, international banking, Kotil. You can't prosecute these people like the Bank of International Settlements in Basel, Switzerland. That's where our Federal Reserve chairman Federal Reserve Bank of London. German think that's the oldest marching is from burns whistle..

US department of Justice US government George Sears Bank of International Settleme Federal Reserve Bank of London Federal Reserve fraud reporter Christian Georgie Konomi Basel Kotil treasury Switzerland San Pedro secretary chairman
"chairman federal reserve" Discussed on NewsRadio KFBK

NewsRadio KFBK

12:46 min | 2 years ago

"chairman federal reserve" Discussed on NewsRadio KFBK

"And we are back with our final segment with Catherine Austin Fitts as we talk about the game of missing money when you started figuring this out, Katherine were you like in shock? Yeah. I was on, never forget the first time we got onto the story I was sitting in my office and my Turney was looking at the most recent HUD, financial reports, and the HUD inspector general announced that there was fifty nine billion dollars of undocumented adjustments. And they were going to simply close down their attempt to do an audit and just call it a day. No, george. If, if your bankers Saint was statement and indicated that there was fifty nine thousand dollars missing from your Bank account, you wouldn't kissed you know, ignore it right undocumented that's in your Bank. I think I'd go nuts and just tell them. Don't do it again. You'd get to the bottom of, you know, where the money was and what happened and you'd fix it. You don't just walk away, and we were stunned because at that point fifty nine billion was, you know, it was more than one hundred percent of the HUD budget. And, and one of the things that amazed me was the extent to which you couldn't get anybody interested in this, you know, the corporate media fig news, you know, they weren't interested. Now, here's why I care. It's sixty five thousand dollars per person. It's two hundred fifty thousand for FAM two hundred fifty million for family of four, I'm sorry two hundred fifty thousand for family of four. You're talking about money to families need to, you know, the gentlemen mentioned for one ks and pension funds. You know, we're talking about the money, people need for their retirement. We're talking about the money. That's the difference between whether you're. Go to college or not, whether you own a house, or not, we're talking about a harvest of the tax payers over a twenty year, period, was, which is absolutely extrordinary and many vis don't realize it, because it's hitting us in terms of currency debasement, if you look at the real inflation rate, hitting the, you know, the basic household goods in this country over the last five years, it's been offering to eight to fourteen percent depending on, you know where I am say percent if you go to Silicon Valley, it's fourteen percent. This is absolutely training the, you know, the health and the well-being of Americans this is why we don't have enough money you know, to take care of our health and cetera et cetera. So the, you know the way they caught out of is pretty sneaky, or has been today. It's through the currency debasement in the inflation, but it's hitting everybody in this is very unifying issue. It's all of us. The so true back to the phones we go. Pamela in Denver, Colorado. Hi, pam. Go ahead. Hey. Hi, cocker. And I wondered that let you know, that all I pay maybe eight ten years ago, I heard you talking, and I don't know what you'd said that gave me a brainstorm. So what I have been doing is. I actually, oh, hold of that toilet paper I keep toilet paper on hand. I think that that's going to be the old. Great. Mark be right in both when they all our money again. Well, what do you think of that? State running large inventories of known, perishable has been an absolutely winning thing to do because if, if prices are going up eight to fifteen percent, depending on where you are, then stockpiling things that are going up in price, eight percent year is, you know, it's a great investment, plus the run on the stores, people may not be able to get these goods when you need them it's funny, I've one ally who swears that, of course, the biggest. Well, he's Weirs in brooms, if you listen to Dmitry Orlov about what happened when Russia collapsed it wasn't gold and silver. It was. Let's go next to Gordon plant city, Florida. Gordon. Go ahead. George Noory, Catherine often fits this. Gordon to watch. Thanks for taking my call now with all due respect, the twenty two billion a little bit over inflated. Ask think, because double and triple reporting, but will, but yet grill you not billion trillion trillion trillion. Oh, what's what's a few orders of magnitude between friends, and then the event, but now the situation's actually worse than what you described, and I'll give you an example. And I wanna get your take your the boss. The current lots of had Dr Carson real smart. But when he was running for president he was all okay in for providing huge student loan for college students using the tax dollar. And, and since almost ten percent of our total debt is college that that may not seem like a lot, but you cannot cut a lot, as you know, because a political reasons for those security or national defence. And so it's gonna crash the dollar because we can completely cut that out back when you and I were kids, there was no. Tax dollars. There was no student loans at all in that time line. And so the to propose solutions that I have on your take, I Bill fourteen fourteen which would allow student loans to be bankrupted on equal terms. The second would be to stop that was attacking measure, 'cause tuition at the top of taxes, seconds to stop using tax dollars to make her t limit college learned on tax dollars. What Trump is proposing in George, I want to give out. Now let's note we did that last week. Gordon can only do it once in a blue moon. But go ahead. What do you think about bankruptcy for stripping? I have a great article in this code William decent or for the economic hitman student loans, and I wouldn't courage, everybody to read it but stripping the normal consumer protections, including the right to, to file bankruptcy from student loans. And from students to me, George is crossing the line from civilization to, you know, a bar Burien society. This is one of the great crimes and outrages it should never have been done. It should never have been permitted. Read it what they did is they, they created a system where they could make more money from young people feeling than young people. Succeeding, they built a model where where kids feeling and not being able to pay their debt would be more profitable, and it's an absolute outrage and they're using the Federal Credit to do it. This is the us. Use of government to destroy the future because when you when you engage in the fraudulent inducement and entrapment and the tricking of young people in a way that destroys them you just write your own future is a society. Sure, do let's go to Norman and Toronto international line. Hey norman. Go ahead. Sir. Yeah. I'm just wondering if getting you're just depending on this, but did the government have an alternative to bailing out Wall Street and do they have a different approach their fingertips, rather than taking on all the bad debt of Wall Street? And is it still going on today? I'll just hang on. Okay. What would have happened? Excellent question I believe they did have an alternative because law, you know, for financial system to work you need law. And what happened was lawless was basically taking an amount of money equivalent to the entire retirement savings in the country and loaning it or giving it to the banks. So, yeah, I think there were, there were definitely alternative, but they would mean facing up and dealing with the part of the economy, which is secret. And that was an enormous political challenge. And of course, everyone for for to kick the can down the road. So I don't think it was necessary. I think there are other ways of dealing with it. And but of course, it comes down to the fundamental model that we're operating on. We're living with a governance system that is invisible. And we're living with explosive with an amount of the con. Enemy that a secret that is explosive in size, and to me that has to be dealt with, and the bailouts was a way of not dealing it and pushing the system down the road. Joe in the Bronx. Hey, Joseph, go ahead. Hey troy? Thanks. Good Catrin, sixty minutes Sunday, featured a segment on a Danish Bank that was cleaning on money for Russian oligarch is, and criminals to the tune. I believe two hundred thirty billion dollars. If I'm not mistaken. Trump change compared to ours. So sorry chump change compared door twenty one. But I'm wondering question is that as far as malfeasance corruption is concerned? What is the role of US banks all linked to the twenty one trillion? That's missing. In nineteen ninety eight's a spokesperson for the department of Justice told a reporter, I was doing research for that, the US economy launders at that time, five hundred billion to a trillion dollars of illegal monies, and, and that makes us, the worldwide leader. So the US banking industry, according to the department of Justice, the world wide leader in laundering money. And if you look at the amount of financial fraud, including missing money, it's exploded since then. And our challenge as a society is, we have become so dependent on illegal flows, and the banking industry is become so dependent on a legal flows. I always tell people we're not addicted to drugs, we're dictated to drug money, and I think the, you know, there are many solutions, but solution number one is bringing transparency to because we now have reached a tipping point where the, you know, essentially the organized crime flows are driving out and crowding out the healthy, you know, sort of legal Konami, and ultimately, you can't, you know, are, are we going to be global swamp? Or are we gonna have healthy economy and productive economies, which means we're gonna have the rule of law? We can't we're trying to have our cake and eat it, too. Don't working. Do these banks that are basically hiding this money show it up on their assets. Or they hide it still off of that. It's not only problem, George now. It says fifty six we've created, you know, I just said that we there were alternatives other than bailout with fast fifty six, we've created a permanent bailout structure, so you can sell treasuries, and take the money or the assets purchase with the money and transferred to a private corporation, and keep it all, you know that, that mechanism is in place to do that. Ought infinitum you know. And I hate to say this the secretary of the treasury is now being sued because he in group of, of investors. Basically shifted the value real estate assets out of Sears before Sears went down. And you have to look at fast, fifty six and say, are they doing the same thing with the US government? Or are they shifting, you know, all the all the assets that can be shifted out before they completely and radically reengineer? This thing good point. We've got Christian and San Pedro, California with us. Hello there Christian. Doing in counseling. It's I've been I've been trying to tell you on Georgia's coast to coast, twenty get online at can. It is an owner to speak with you. I have a, a question that is in common. My comment is like what you said. I think that there is a secret government. I think the Trump administration's than Senate tweeted by the CFR relations, you know, international banking, Kotel. You can't prosecute these people like the Bank of International Settlements in Basel, Switzerland. That's our Federal Reserve chairman Federal Reserve. You know, the Bank of London the German think that's the all get their marching is from Berne, Switzerland..

George Noory US Gordon Catherine Austin Fitts Federal Reserve HUD department of Justice Turney Switzerland Norman Bank of International Settleme Dmitry Orlov Katherine Senate Sears Denver tricking
"chairman federal reserve" Discussed on KNST AM 790

KNST AM 790

12:46 min | 2 years ago

"chairman federal reserve" Discussed on KNST AM 790

"And we are back with our final segment with Catherine Austin Fitts as we talk about the racial game of missing money when you started figuring this out, Katherine were you like in shock? Yeah. I was on ever forget the first time we got onto the story I was sitting in my office, and my attorney was looking at the most recent HUD, financial reports, and the HUD inspector general announced that there was fifty nine billion dollars of undocumented adjustments. And they were going to simply close down their attempt to do an audit and just call it a day. No, george. If, if your bankers Saint was statement and indicated that there was fifty nine thousand dollars missing from your Bank account. You wouldn't just you know, ignore it right undocumented that's in your Bank. I think I'd go nuts and just tell them. Don't do it again. You'd get to the bottom of, you know, where the money was and what happened and you'd fix it. You don't just walk away, and we were stunned because at that point fifty nine billion was, you know, it was more than one hundred percent of the HUD budget. And, and one of the things that amazed me was the extent to which you couldn't get anybody interested in this, you know, the corporate media fig news, you know, they weren't interested. Now, here's why I care. It's sixty five thousand dollars per person. It's two hundred fifty thousand for FAM two hundred and fifty million for family of four, I'm sorry, two hundred fifty thousand for family four. You're talking about money that families need to, you know, the gentlemen mentioned for one ks and pension funds. You know, we're talking about the money, people need for their retirement. We're talking about the money. That's the difference between whether you're. Go college or not, whether you own a house, or not, we're talking about a harvest of the tax payers over a twenty year period, was, which is absolutely extrordinary and many of us, don't realize it, because it's hitting us in terms of currency debasement, if you look at the real inflation rate, hitting the, you know, the basic household goods in this country over the last five years, it's been offering to eight to fourteen percent depending on where I am say percent if you go to Silicon Valley, fourteen percent, this is absolutely training. The, you know, the health and the well-being of Americans this is why we don't have enough money you know, to take care of our health at cetera et cetera. So the, you know the way they caught out of his is pretty sneaky, or has been today. It's through the currency debasement and the inflation, you know, but it's hitting everybody in this is very unifying issue. It's all of us. True back to the phones we go. Pamela in Denver, Colorado. Hi, pam. Go ahead. Hey, hi, cocker. I wonder if that let you know that all I, they maybe eight ten years ago, I heard you talking, and I don't know what you'd said that gave me a brainstorm. So what I have been doing is. I actually. Horror that toilet paper. I keep toilet paper on hand. I think that that's going to be the old. Great. Be right. Then when they take all our money again. What do you think of that state running large inventories of known, perishable has been an absolutely winning thing to do because if, if prices are going up eight to fifteen percent, depending on where you are, then stockpiling things that are going up in price eight percent, a year is, you know, it's a great investment, plus the run on the stores, people may not be able to get these goods when you need them it's funny, I've one ally swears, that, of course, the biggest well, he's Weirs in brooms, if you listen to me trio, or law about what happened when Russia collapsed it wasn't gold and silver. It was. Five point. Let's go next to Gordon plant city, Florida. Gordon. Go ahead. George Noory, Catherine often fits this, Gordon when you watch. Thanks for taking my call. All respect the twenty two billion a little bit. Over inflated, ask think, because it's double and triple reporting, but will, but yet really trillion trillion not billion trillion trillion trillion. Oh, what's what's a few orders of magnitude between friends, and then he hasn't? But now the situation's actually worse than what you described, and I'll give you an example, and I wanna get your take your the boss. The current boss had Dr been Carson real smart. But when he was running for president he was all okay. And for providing huge student loan for college students using the tax dollar. And, and since almost ten percent of our total bed is college that, that may not seem like a lot, but you cannot cut a lot, as you know, because of political reasons for those security, or national defence. And so it's gonna crash the dollar because we can completely cut that out back when you and I were kids, there was no. Hacks, there was no student loans at all in that time line. And so the two proposal loosens that I haven't I wanna get your take. I Bill fourteen fourteen which would allow student loans to be bankrupted on equal terms. The second would be to stop, that was attacking measure tuition, tax of seconds to stop using tax dollars to make to limit college loans on tax dollars is what Trump is proposing and George I want to give out my website note. We did that last week. Gordon can only do it once in a blue moon. But go ahead, what do you think about bankruptcy for student loan? Stripping. I have a great article in this code William defender for the economic hitman of student loans, and I wouldn't courage, everybody to read it but stripping the normal consumer protections, including the right to, to file bankruptcy from student loans. And from students to me, George is crossing the line from civilization to, you know, a bar Burien society. This is one of the great crimes and outrages it should never have been done. It should never have been permitted read it it, what they did is they created a system where they could make more money from young people feeling than young people. Succeeding, they built a model where where kids stealing and not being able to pay their debt would be more profitable, and it's an absolute outrage and they're using the Federal Credit to do it. This is the use of government to destroy the future because. When you. When you engage in the fraudulent inducement and entrapment and the tricking of young people in a way that destroys them, you just write your own future, as a society. Do. Let's go to Norman and Toronto international line. Hey Norman go ahead, sir. Yeah. I'm just wondering if getting your dissipating on this, but did the government have an alternative to bailing out Wall Street and did they have a different approach fingertips, rather than taking on all the bad debt of Wall Street? And is it still going on today? And I'll just hang on. Okay. What would have happened? Excellent question I believe they did have an alternative because law, you know, for financial systems work you need law. And what happened was lawless. It was basically taking an amount of money equivalent to the entire retirement savings in the country and loaning it or giving it to the banks. So, yeah, I think there were, there were definitely alternative, but they would mean facing up and dealing with the part of the economy, which is secret. And that was an enormous political challenge. And of course, everyone preferred to kick the can down the road. So I don't think it was necessary. I think there are other ways of dealing with it. And but of course, it comes down to the fundamental model the we're operating on. We're living with a governance system that is invisible. And we're living with explosive with an amount of the con. Enemy that a secret that is explosive and size. And to me that has to be dealt with, and the bailouts was a way of not dealing it and pushing the system down the road. Joe in the Bronx. Hey, Joseph, go ahead. Hey, george. All right. Thanks good catching us. Sixty minutes Sunday, featured a segment on a Danish Bank that was cleaning laundering money for Russian oligarch, keys, and criminals. To the tune. I believe two hundred thirty billion dollars if I'm not mistaken. Trump change compared to ours. So. Sorry, chump change compared door twenty one. But I'm wondering question is that as far as malfeasance corruption is concerned? What is the role of US banks and all they linked to the twenty one trillion that's missing. In nineteen ninety eight's a spokesperson for the department of Justice told a reporter, I was doing research for that, the US economy launders at that time, five hundred billion to a trillion dollars of illegal monies, and, and that makes us, the worldwide leader. So the US banking industry, according to the department of Justice, the world wide leader in laundering money. And if you look at the amount of financial fraud, including missing money, it's exploded since then. And our challenge as a society is, we have become so dependent on legal flows, and the banking industry has become so dependent on a legal flows. Always tell people were not addicted to drugs. We're dictated to drug money, and I think the, you know, there are many solutions, but solution number one is bringing transparency to, because we know have reached a tipping point where the essentially the organized crime flows are driving out and crowding out the healthy, you know, sort of legal Konami, and ultimately, you can't, you know, are, are we going to be global swamp? Or are we gonna have healthy economy and productive economy, which means we're going to have the rule of law? We can't we're trying to have our cake and eat it, too. Don't working. Do these banks that are basically hiding this money show it up on their assets. Or they hide it still off of that. It's not the problem. George now with fast fifty six we've created, you know, I just said that we there were alternatives other than a bailout with fast fifty six, we've created a permanent bailout structure, so you can sell treasuries, and take the money or the assets purchase with the money and transferred to a private corporation, and keep it all, you know that, that mechanism is in place to do that. Ought infinitum you know. And I hate to say this the secretary of the treasury is now being sued because he in group of, of investors basically shifted, the value real estate us. It's out of Sears before Sears went down and you have to look at fast, fifty six and say, are they doing the same thing with the US government or are they shifting, you know, all the all the assets that can be shifted out before they completely and radically reengineer this thing, the good point. We've got Christian and San Pedro, California with us. Hello there, Christian George, how you doing in cats. It's I've been trying to tell you come on, Georgia's coast to coast, twenty get online, it can it is an owner to speak with you. I have a, a question that is in common. My comment is like what you said. I think that there is a secret government. I think the Trump administration's been a tweeted by the CFR relations, you know, international banking, Kotil. You can't prosecute these people like the Bank of International Settlements in Basel, Switzerland. That's our Federal Reserve chairman Federal Reserve and, you know, the Bank of London German think that's the all gets marching from burns whistle..

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"chairman federal reserve" Discussed on KNST AM 790

KNST AM 790

12:58 min | 2 years ago

"chairman federal reserve" Discussed on KNST AM 790

"Seven eight eight eight zero KFC. Good morning. Good morning. Good morning. I was everybody today. Good. Yeah. I did not get tarp wound good. Now, he came up with a good that your letter. The day. T-. No, I don't have the letter of the week. That's you. Now what did you? For Wales or Nope? No, no fishing. I thought it was a good word USA. Excellent. It's comes. Yeah. I'm glad you liked it. Tarpaulin. Did you see anything here that I wrote down that I had it? No, it, it flows now but you told me a bit your tongue. Maybe thought you got. Yeah. I know I get all the different things happen. I think it's the soft and the popcorn tongue swells up and you bite it God that hurts. All right. You know, blatant. I it's good reason now happened already. Okay. You want to go to the phones, you wanna have a comment. Go ahead. All right. Let's go to say. Good morning, quick. You had the money matters show. Hey, thank you guys for taking my call. I have a question and I just really wanna see this put the bed, but because it's coming up, and it's come up and now Joe Biden out there on the campaign trail is declaring that this Konami recovery came from him and Obama, and that Trump just inherited it by coming in behind them, and I'd really like to hear an explanation. It couldn't possibly be come the Obama Biden administration. If you could please. Twist, Rick, I'm not gonna say it didn't start with the Obama administration. Okay. It's just like it's no different than Trump. Getting a couple of million bucks. The start off his businesses from his dad, so many people can get to start so few people can make it launch off from there. Okay, obviously, we had to have an economy going in the right direction. When Obama took over the problem was his regulations his policies and everything else was never going to get any better than almost two percent GDP. He was never gonna cut regulations. He was never gonna go pro business. He was never going to go after the tariffs and fight China and bring businesses back. And he was never gonna talk pro-american like we are now. Okay, so look at look at this as being a we were in the worst recession that we were after two thousand eight bang for going down and everything else. I don't get the credit to Obama. I give credit to benign Benigni banenky. Okay. He's the one that saved our country, by the way, he's the one that studied, the, the, the depression of nineteen twenty nine and the collapse enjoying that time he's the one that understood how to get us out. Okay. Not go. Congress who's been Ocoee banenky. He was a federal chairman Federal Reserve chairman, okay guy. He's the one that took care of everything. Okay. And had enough guts to do it because, you know what when they were in these meetings and deciding very Lynch, go at Bank America does best during the Lehman Brothers go out of business. Do we save GM? Do we do that? So that was him. He was the one that was kind of putting the deals together with every with his group. So at the end of the day, I give him the credit now as we started through this, and we started going. I mean you got to give a little bit to the administration before him because they. From going down and the kind of turned around what they didn't do and they had the opportunity to do. It was used it as a springboard to be where we are today, but they were afraid to do the things that needed to be done. They would never cut regulation 'cause they will against big business. They will against Wall Street, and they think everyone is terrible and horrible and rip off August and all because they weren't businessman, you know, we've always talked for such a long time about let's put a businessman into the White House. We finally did who put businessmen into his cabinet who put not just the first time we don't have someone that's poor that comes out with fifty one hundred million dollars. Here's a guy that comes in that has billions of dollars putting his friends that have billions of dollars who would not getting paid to do it because they want to make America better and nobody wants to understand what goes into doing. In that and instead of writing checks doing putting time in a town time away from their families because they wanted to get the economy, the way it is only business people who will pay done payrolls, done budgets have done things like that can even have a comprehension of how to run the government to be profitable. You know, most people think they think that oh, just keep printing money. What's the difference? It's the government who cares it. We have ten trillion in debt so we have twenty let's go to fifty. Let's go to one hundred million trillion in debt. They don't even understand how that affects them. They. Just keep keeps going with me. I distinctly remember Obama being on, on the news and, and, and talking about how the manufacturing jobs were never coming back, that this was the noon reality, the new norm. And we had to get used to it. And so just in fury. It's me to hear them. Try to take any credit when they gave up and then that, that first trillion dollars. Shovel ready made he made jobs and, and all that. That money went to Selangor and went right out the window man nobody benefit and then they laughed about it not being quite shovel ready. And I just felt insulted during that period. And now we're just insulting us with it. Now that they're trying to claim all the process thirty that's happened. It's just they need just need to be wrangled out there in Ecuador out all the time about how it's not there's, you know what they meant that, but don't go down that argument, Rick, you're not gonna win that argument, because they were getting better, every year, the argument you have to have it. So you kidding me? You had QE one QE to QE three. You had the lowest interest rates ever, and you couldn't get past one point eight two percent on GDP. So what was wrong with that people? That's how you have you argument, you would never going to get that, even if you had another eight years, you, you're not going to get the three or four percent. Because in your mind two percent was going to be the norm. We weren't getting manufacturing jobs here. Live the way it was. And by the way, would take money from the military so we can give the everybody else money. It was a different mentality. What's changed? Is the mentality. The mentality is going to create jobs being on food stamps is not good. Go get a job. We're going to increase wages bands, the argument, not that they didn't do anything. They did what they didn't do was going to do, what it took to get to the next level that get to the next level. It was cutting regulations, which is the number one biggest thing out there and making corporations during those eight years corporations would just the fray that they were going to get more costs. More regulations more everything else and corporations weren't spending money to expand unless they had to. They certainly weren't hiring. Who's I remember two thousand one and two thousand eight like it was the back of the hand. Okay. So they kept going. Now when Trump gets in he's changed the mentality of business. Grow be rich. It's good. You remember Obama. It's embarrassing if you go to Vegas and spent any money, why should corporations go to Vegas and spent any money. That's horrendo-. This. You shouldn't do that corporation, stop spending money. They stopped going on those trips because they barris them and said, you shouldn't do that. What do you mean? You shouldn't do that. That means everybody would like even more upset. They view employees look forward to doing those things while they should when they went to do it. They were spending money at -sorts. They were spending money. So people can have jobs. They did anything the opposite way you remember that, that comment came out of his mouth. Yes, I do. I do you know and Trump is the opposite. Give me work. Gimme fun. He listen you know, whether it was him and not GM. How quick did they sell that building so they can get Trump off their back, right? Yeah. And I just wanna thank you. And if you're just have on this, you know, as we go through in these things, keep coming up, you just remind us on your Sunday show what it is. And what it took, and there was no success by their actions, they may have acted, but there was never any success. And anyway, I thank you very much scientific for calling the that's the thing you know, I'll never not say that they didn't stop taking us in the right direction. And they had nothing to do with. Of course they had something to do with. They had the interest rates low they didn't know how to take the next level, no different than somebody inheriting, five billion dollars. We know so many people that inherit five million dollars. It either goes to zero was stays the same for the rest of the life. How many people take that five million and bring it to a billion, you know, one hundred million, and that's where the difference. I had no problems of somebody inheriting something. It's like okay. Who's gonna take it to the next level, and Trump is taken this to another level. And I believe there's a whole nother level out that he has spent it all or take it to the next level. Do I know? That's the question. Oh, yeah. But, you know, these politicians and you know, it works both ways. I think they they they're both both the Republicans and the Democrats know how to fed and fed very well I mean, look at all the people that are now against, you know, the border and immigration and let people come across our borders that, you know, five or six or seven. Seven years ago where adamant about, you know, hey, let's, let's, let's stop this. Let's put a wall up. Let's do this now. Let's open everything. How do you go home? How do you go home? And look yourself in the mirror known you voted for the wall. Five years ago eight years ago. And now you totally on the other side. How do you feel good about yourself? You know, you need border security and now you coming up with some hot wash. Well, we've got to have this technology, what do you think the drone is gonna come down to pick these people up? You know, when we join ain't gonna shoot down at him and we're not gonna electrify. We're not gonna stop them from coming across. It's and it's like along with it. Let's get five hundred more judges down there. So they can go ahead. There's a whole nother industry. We have immigration industry. That's a big industry that can Bill and there's more jobs and the good paying jobs, by the way. But the problem is I don't want it down by the border. I don't wanna live down the boat, rather go collect my food stamps, people need to be mobile. You mobile you that, and let's face it would not producing as many children, as we used to, you know, the, the days of you producing one five six seven kids. Without too. That's going to hurt in the long run. Talking about hurting you. Okay. That's coughing. Deep voice. Well. That's the Sunday morning voice. I'm on radio. Just get ready for Sunday. Morning go. So what do you think about what's going on? You passed your test full-fledged. We gotta congratulate them now. What tests down and all registered and ready to rock and roll, congratulations? Dylan. Thank you. It's a great feeling. You were one happy. Boy on Friday. I am I'm still happy pretty. It's pretty surreal, honestly. Well, it's, you know, it's funny because I think we see it firsthand moving why the stats the way they all would financial advisers today, the talking about this. Morse advises over seventy,.

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"chairman federal reserve" Discussed on 710 WOR

710 WOR

03:29 min | 3 years ago

"chairman federal reserve" Discussed on 710 WOR

"You know, now he's delivering the markets what they wanted. So later on a last week. Shortly after a Bush jobs report for December sparked a small rally in the stock market. Federal chairman Federal Reserve chairman Jerome Powell night didn't even stronger surge after he delivered just what the doctor ordered that. The fed will be flexible in monetary policy, and it is in no rush to raise interest rates. Stocks were already trading higher after the release of December labor data showed job and wage growth. We're still solid despite the markets effort to convince investors otherwise stocks have been pressured since mid-december when the fed raised its benchmark interest rate a quarter point ball issuing a somewhat hawkish statement despite lowering its rate hike projections from three to two Furthermore, federal chairman Powell also said that rate hikes would continue to be gradual and data dependent. He talked about fed flexibility. He also talked about the fed monitoring global markets any recognized that there are other fed tools. Besides over using interest rate policy. Now, there is a real issue and fed chair Powell statements the central Bank overused interest rate, Paul. To print the economy from overheating. And some of these rate hikes should have been done years ago. But his comments were taken his dovish, and he said he wouldn't hesitate to adjust policy. What do you think the fed chair Powell? And even more than that. What do you think about his comments to the president that he would not resign if asked whoa, that's a? That's like a, you know, a gunfight at the OK corral gives us a call eight hundred three to one zero seven ten if you have a question for us. And folks, if you're concerned about the income, you're generating in retirement, or you're nearing retirement, you're concerned about the stock market if you're not your retirement, but still concerned about the stock market police eighty eight nine hundred a Josh if you wanna protect your family from license certainties if you're looking life insurance annuities stocks bonds ET apps. Call eight nine at eight Josh. We wanna be your headquarters for planning for your future. Call me eight eight eight nine hundred eight Josh. Fernando from queens asked me a question on Facebook. I'm going to answer that question when we return I have a life insurance policy is worth keeping key to keep paying. Keep listening for an Endo. We'll be back with your question and more eight hundred three to one zero seven ten tax deferred vehicles such as 4._0._1._K's an IRA sound good upfront. But did you realize that when you retire you'll have to pay taxes on all your earnings? You can legally minimize your taxes when you withdraw retirement funds with tax free, IRA's and other tax favored accounts. Call the Dolinsky advisory group now at eight eight eight nine eight eight Josh that's eight eight eight nine eight eight J.

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