I received a note via a colleague stating (paraphrasing) “Holy cow! I was just listening to the president’s speech addressing the inflation number, where he stated “Starts with the Fed” and was surprised. Now I’m reading it as a headline everywhere! I think your call (Jerome Powell doesn’t finish out the year) is definitely in play. That’s as big of a ‘under the bus’ political move as I’ve ever seen one.”
I was going to put a link into this note, but there’s no need. As I was looking for one – they’re everywhere. Just type it into your favorite search engine and you’ll find it.
Here’s the thing as I addressed prior – It was easy to spot precisely where and when this was going to be on the table the moment you fully comprehended what the term “re-calibrate” was said by whom, when, and to whom. To my knowledge, I’m the only one that made that type of call back then. Now, that possibility is here in spades for all to see, especially Mr. Powell.
On another note. As I was perusing different news sources relating to the above story. I came across this plastered across the front page of the Drudge Report™. To wit:
Here’s what I would like to point your attention to…
In the upper left hand corner, look at the titles for the most recent news regarding Bitcoin™.
“Bitcoin In Crisis” “Coinbase warns bankruptcy could wipe out user funds” “Crypto market awaits rescue” and more.
Now, square those headlines with the headline “Inflation Stays Red Hot” dead center, which was the reason (if not raison d’être) given by the entire cryto-guru-cabal on why Bitcoin would save the world from fiat and would only increase in value and more. Much more.
Need I say more?
© 2022 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.