patrick.net

https://rudy.substack.com/p/sauve-qui-peut

Cost of Living Is the Biggest Challenge Americans Face Note that every other category listed above is also affected by the cost of living, especially housing.

Meanwhile, the Fed actively sought to spike CPI, and now is seemingly satisfied that it has been well above their made-up 2% target for four and a half years.

Core PCE has now been above the Fed’s made-up “2% target” since April 2021, and above their actual mandate of “stable prices” since forever.

As Marc Faber said to Julia La Roche:

“Ordinary people are struggling, but ordinary people are never interviewed on CNBC, or on your program, or on Fox News. They have no voice, so the elite can tell the public, ‘Oh, the economy is doing well.’”

Under the Federal Reserve Act, the Fed is exempt from federal, state, and local taxation, except for real estate taxes.

This exemption applies to its income, capital stock, and surplus funds.

Nobody really know how much capital stock is or who are shareholders or how income distribution looks like.

https://rudy.substack.com/p/consumers-are-collapsing

Nomi Prins

“The Federal Reserve was created to help Wall Street…It wasn’t created to help individuals who couldn’t get their money out of banks in the panic of 1907 in New York City. It was for people like JP Morgan, who wanted to make sure that his literal friends who ran other banks and insurance companies had a source of help should another panic happen.”

https://rudy.substack.com/p/the-false-security-of-consensus

“This is the problem with central banks the world over: they are in the business of imposing prosperity through financial means, rather than by treating prosperity as a co-product of actual growth. Their intentions are the best but what they are doing is incalculable harm.”

Jim Grant, 2011

(Source: My notes from a now-deleted Bloomberg interview with Grant and Jim Rickards)

https://ground.news/article/former-fed-gov-kugler-violated-trading-rules-while-at-the-central-bank-ethics-report-found

Former Fed Gov. Kugler violated trading rules while at the central bank, ethics report found

Adriana Kugler resigned from the Federal Reserve after Jerome Powell denied her request for a waiver regarding her financial holdings that violated ethics rules, according to a Fed official.

Kugler faced an investigation by the Fed's internal watchdog concerning her financial disclosures before her resignation in August.

Kugler acknowledged that her spouse's purchases of Apple Inc. and Cava Group Inc. shares violated investment rules, stating, 'my spouse made the purchases without my knowledge.'

Kugler's resignation allowed President Donald Trump to appoint Stephen Miran to the Fed's board amidst his pressure for lower interest rates.