the United States is now effectively for the first time ever in the history of the United States has a banking system that's independent of the city of London. I mean this goes all the way back to the Revolutionary War, the post-revolutionary. Where we were still so dependent upon trade with Britain that they effectively controlled our monetary policy, and, you know, it stayed that way all through the 1800s, all through . . . and then into the 1900s, and then we got their Central Bank model in 1913 . . . I just don't think anybody foresaw the United States finally being able to declare independence for real . . . --Tom Luongo
Global Finance Chess Game, Role of Gold
— Kai Hoffmann (@JrMiningGuy) February 29, 2024
Tom Luongo joins us for an uncut, candid discussion on the global financial markets, FED policies, Janet Yellen & her role, and the role of gold in general. @TFL1728 does NOT hold back in this one!
📺https://t.co/rQ4J7AeugS pic.twitter.com/0otyKTCnRw
11:00. Because the minute I saw that Powell started tightening liquidity, the first thing I said was "this is going to impact disproportionately Europe, and then when the sanction packages went on and Europe decided to go along with the massive sanctions against Russia, the gut of the international standing of the euro and now the Euro does not flow around the world the Euro had a chance to Dethrone the dollar as a global Reserve currency and they chose not to do so okay now it's not my problem because the reason that Mario draghi and Christine Lagarde did what they did at the ECB and what was then done is because they always thought that they would have control ofglobalUNd by having a globalist like yelling or Bernanke running the Fed they've got power in charge of the Fed never expected to get sofa installed here in the United States and get us off of Libor never expected any of this to happen that was never part of their plan that's why they're really angry with Donald Trump and actually they're not even really angry with Donald Trump they're angry with Steve mnuchin hanning Jerome Powell to Donald Trump and Trump making him Fed Chair and then putting John Williams in at the New York Fed to implement SOFR, and now that we have a domestic get indexing rate that's not dependent upon city of London, the United States is now effectively for the first time ever in the history of the United States has a banking system that's independent of the city of London. I mean this goes all the way back to the Revolutionary War the post-revolutionary. Where we were still so dependent upon trade with Britain that they effectively controlled our monetary policy, and, you know, it stayed that way all through the 1800s, all through . . . and then into the 1900s, and then we got their Central Bank model in 1913 and this is all part of the plan now. I just don't think anybody foresaw the United States finally being able to declare independence for real, and that means of course that I'm implying that the people who are behind this policy are also anti-imperial and that they also want to destroy it, take down the American Empire, as well. Now that's being fought tooth and claw by the political class. That's the macro picture. If you want to understand what's happening in the bond markets, in the oil markets, in the gold markets, in all of these markets, this is the fight, this is the war that's being fought over who's going to control the global financial system after the crash. And Powell is setting things up to have the United States weather through the crash. I don't see Christine Lagarde doing that. I see her doubling down on the stuff that didn't work. Why? Because Christine Lagarde is not a banker, she's never managed money; she's a lawyer, and she's a political appointee who's been told to run the Gantt chart of the project. She's a project manager is the best way to describe people like her and Ursula von der Leyen and the rest of them, and to a lesser extent Chuck Schumer and Mitch McConnell and all the rest of them here in the United States. Just project managers and there's a big project, and it's called globalism or "Minority Report with more Germans." It's a UN-run global government with Central Bank digital currencies, and, you know, living in pods, and all the rest of it. That's their project. They just get up every day and operate what's on the Gantt chart, and say, okay this is what we're supposed to do today, this is what we're supposed to say. And when you see someone like Bruno Le Maire come out the other day and lament,
"What is going on, why haven't we seized the $35 [bil lion]here the savings within Continental Europe to pay for climate change? That was already supposed to be done by now. Why have we not done this?"
This is the classic example of an IQ 105 midwit that was designed, that was put in power to run as a project manager and was wondering, like, "Where's the leadership? What happened here?" Like you can see it everywhere.
15:15. The better metaphor is that they're the flying monkeys and the Wicked Witch of the West is now dead. So, Kissinger's dead. Jacob Rothschild just died this morning. Brzezinski is dead. The guys who built the Club of Rome, they're all dead, like everybody who put the system in place, who put this agenda in place they're all dead. They were smart enough to build the agenda, but they put lieutenants in place that are just smart enough to run the agenda but not understand how the agenda works. So therefore it's like a big production line that's missing critical parts, and you can't move the production line forward. What we're seeing and the thing is lurching to a halt and what you're seeing at this point is them complaining that they don't have enough bolts to mount the doors on the truck that they're trying to build, or whatever metaphor you want to use, and they don't know what else to do. So they get up in the morning and they keep doing what they're supposed to do: they introduce laws and bills that are never going to be implemented; they continue to try and ban gas stoves here in the United States; they continue to push funding for Ukraine out the door, because they need to push the liquidity into the German banking system to keep it from collapsing. These are their plans, and they still think that they can force Powell, and they try to improvise by trying to force Powell off of his "higher for longer" stance, and then the economic data keeps coming back slightly better than expected which gives Powell all the ammunition he needs to go, "You know what? It's still too early to talk about cutting rates."
16:57 I've now got on my board about a coin flip for a rate hike in the second half of this year, okay? I came into this video I came into the year saying, "Yeah, probably 3 rate hikes--rate cuts in the second half of the year, one of my predictions for this year. I was saying no recession officially until 2024, which I don't think we're going to get; there's just too much money floating around. Joseph Wang agrees with me, and he understands the flow, the interplay of flow, far better than I do, far better than I do. I mean I made that prediction, then I read his work, and I'm like, "Oh, cool! Somebody else agrees with me." I'm just saying that you know somebody who knows more of this than I do is saying the same things that I am I'm actually appealing not to my authority but to his
17:48. And we have that, that was my one base case, and then the second base case was that I never thought that Powell was going to cut before the beginning of Q3.
@ the 12:00 mark, Tom explains that it was Steve Mnuchin who handed Jerome Powell to Donald Trump. Interesting. Which pissed off the globalists.
