FEAR or FAITH? FRIGHT or FLIGHT?
Welcome Eagles to the New Crusade!
Will thou help defend the Fortress of Faith?

BOOKMARK us & check in DAILY for the latest Endtimes News!
SPREAD WORD TO YOUR FRIENDS & FAMILY!

"And I beheld, and heard the voice of one eagle flying through the midst of heaven,
saying with a loud voice: Woe, woe, woe to the inhabitants of the earth....
[Apocalypse (Revelation) 8:13]

Wednesday, January 10, 2018

ECONOMIC CRISIS: CEO of JP Morgan Chase: ALL Cryptocurrency Will Be Under Government Control

ECONOMIC CRISIS: CEO of JP Morgan Chase: ALL Cryptocurrency Will Be Under Government Control
MATT AGORIST 
Late last year the Chairman & CEO of JPMorgan Chase, Jamie Dimon became the laughing stock of the crypto world when he came out railing against bitcoin and the blockchain. On Tuesday, however, he seems to have changed his mind and during an interview with Fox Business, he left viewers with an ominously cryptic message—punn intended—on how the government will control bitcoin.


In September of last year, Dimon not only came out swinging against bitcoin, but he threatened to fire all bank employees who dared to trade in bitcoin—for being “stupid.”
If a JPMorgan trader began trading in bitcoin, he said, “I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”
The cryptocurrency “won’t end well,” he told an investor conference in New York, as Bloomberg noted, predicting it will eventually blow up. “It’s a fraud” and “worse than tulip bulbs.”
In the interview on Tuesday, however, the megabank mogul expressed his change of heart. As FOX Business reported, Dimon regrets past comments in which he called Bitcoin a fraud at that September banking conference.
“The blockchain is real. You can have crypto yen and dollars and stuff like that. ICO’s you have to look at individually,” Dimon said in an exclusive interview with FOX Business.
However, after he somewhat apologized for slamming bitcoin, Dimon gave a portentous statement, hinting that he knows something about the government control of bitcoin.
“The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people. I’m not interested that much in the subject at all.”
What makes this statement so inauspicious is that it’s not the first time Dimon has alluded to the government controlling crypto and, if anyone knows how the government is going to react when it comes to money, it is definitely the Chairman, CEO and President of the largest American bank, and a former chair on the board of directors of the Federal Reserve Bank.
When asked what he thought about the future of bitcoin during an interview with Fortune, Dimon said, “It doesn’t matter, it’s just not gonna happen,” before claiming that the government will make it illegal and begin jailing people for it.
“When the DoJ calls someone up and says that’s an illegal currency and it’s against the laws of the United States and if you do it again—we’re gonna throw you in jail.”
Dimon went on to predict that cryptocurrencies will all be government controlled.
“There will be no real non-controlled currency in the world. There’s no government that’s gonna put up with it for long,” he said.
Whether or not this prediction will come true is still up for debate. However, other governments across the world are not going to miss the crypto boat and have already begun taking measure to move toward their own coins.
One of these countries is Venezuela. As TFTP reported last month, Venezuelan President Nicolas Maduro announced that in an effort to bypass U.S.-led financial sanctions Venezuela would launch a digital cryptocurrency backed by oil.
“Venezuela is announcing the creation of its own cryptocurrency. It will be called The Petro. It will allow us to innovate towards new forms of international finance for the economic and social development of the country,” Maduro said.
Russia’s development bank, VEB is also hopping on the bandwagon as several Russian state ministries are reportedly teaming up to develop blockchain technology. Russia plans to create a fully encrypted, distributed, inexpensive payments system that has no dependence upon Western banking institutions, SWIFT, or the U.S. government to move money across the world.
As TFTP reported, Minister of Communications, Nikolay Nikiforov, confirmed that Russian President Vladimir Putin has officially stated that Russia will issue its own ‘CryptoRuble’ during a closed-door meeting in Moscow, according to local news sources.
The good news is that even if governments try to control one currency, others will rise in its place and as long as this widescale collaboration and coordination among blockchain users exist, decentralized money will win. The money changing bankers have had their go at the helm—and we’ve seen the massive death and destruction facilitated by it—now, it’s time for the rest of humanity to have their turn.


Party While You Can, Central Bank Ready to Pop the ‘Everything’ Bubble

By Brandon Smith  /  Alt-Market.com
Many people do not realize that America is not only entering a new year, but within the next month we will also be entering a new economic era. In early February, Janet Yellen is set to leave the Federal Reserve and be replaced by the new Fed chair nominee, Jerome Powell. Now, to be clear, the Fed chair along with the bank governors do not set central bank policy. Policy for most central banks around the world is dictated in Switzerland by the Bank for International Settlements. Fed chairmen like Janet Yellen are mere mascots implementing policy initiatives as ordered.  This is why we are now seeing supposedly separate central banking institutions around the world acting in unison, first with stimulus, then with fiscal tightening.
However, it is important to note that each new Fed chair does tend to signal a new shift in action for the central bank. For example, Alan Greenspan oversaw the low interest rate easy money phase of the Fed, which created the conditions for the derivatives and credit bubble and subsequent crash in 2008. Ben Bernanke oversaw the stimulus and bailout phase, flooding the markets with massive amounts of fiat and engineering an even larger bubble in stocks, bonds and just about every other asset except perhaps some select commodities. Janet Yellen managed the tapering phase, in which stimulus has been carefully and systematically diminished while still maintaining delusional stock market euphoria.
Now comes the era of Jerome Powell, who will oversee the last stages of fiscal tightening, the reduction of the Fed balance sheet, faster rate increases and the final implosion of the ‘everything’ bubble.
As I warned before Trump won the election in 2016, a Trump presidency would inevitably be followed by economic crisis, and this would be facilitated by the Federal Reserve pulling the plug on fiat life support measures which kept the illusion of recovery going for the past several years. It is important to note that the mainstream media is consistently referring to Jerome Powell as “Trump’s candidate” for the Fed, or “Trump’s pick” (as if the president really has much of a choice in the roster of candidates for the Fed chair). The public is being subtly conditioned to view Powell as if he is an extension of the Trump administration.
This could not be further from the truth. Powell and the Fed are autonomous from government. As Alan Greenspan openly admitted years ago, the Fed does not answer to the government and can act independently without oversight. So, why is the media insisting on misrepresenting Powell as some kind of Trump agent? Because Trump, and by extension all the conservatives that support him, are meant to take the blame when the ‘everything’ bubble vaporizes our financial structure. Jerome Powell is “Trump’s guy” at the Fed; so any actions Powell takes to crush the recovery narrative will also be blamed on the Trump administration.
But, is it a certainty that Powell will put the final nail in the coffin of “economic recovery?” Yes. Last Friday the Fed finally released the transcripts of its monetary policy meetings in 2012, and in those transcripts are some interesting admissions from Powell himself. After reading these transcripts I am fully convinced that Powell is the man who will stand as the figurehead of the central bank during the final phase of U.S. decline.
Here are some of the most astonishing quotes by Powell from those transcripts along with my commentary. These quotes are yet another piece of evidence that vindicates my position on the Fed as an economic saboteur and my position on the historic market bubble the bank has created:
Powell: “I have concerns about more purchases. As others have pointed out, the dealer community is now assuming close to a $4 trillion balance sheet and purchases through the first quarter of 2014. I admit that is a much stronger reaction than I anticipated, and I am uncomfortable with it for a couple of reasons.
First, the question, why stop at $4 trillion? The market in most cases will cheer us for doing more. It will never be enough for the market. Our models will always tell us that we are helping the economy, and I will probably always feel that those benefits are overestimated. And we will be able to tell ourselves that market function is not impaired and that inflation expectations are under control. What is to stop us, other than much faster economic growth, which it is probably not in our power to produce?”
Assessment: By all indications the Fed did do more, MUCH more. Including QE3, various stimulus packages and incessantly low interest rates for years, the Fed has essentially stepped in every time stock markets in particular were about to crash back to their natural state of decline. Powell is being rather honest in his estimation here that these stopgaps are in fact temporary and that the Fed cannot produce true economic growth to support the market optimism they have created through their interventions. He is stating openly that markets will only remain optimistic so long as they are assured that the Fed will continue to intervene.
This is probably why it took almost six years before these transcripts were released.
Powell: “When it is time for us to sell, or even to stop buying, the response could be quite strong; there is every reason to expect a strong response. So there are a couple of ways to look at it. It is about $1.2 trillion in sales; you take 60 months, you get about $20 billion a month. That is a very doable thing, it sounds like, in a market where the norm by the middle of next year is $80 billion a month. Another way to look at it, though, is that it’s not so much the sale, the duration; it’s also unloading our short volatility position.”
Assessment: And here we have Powell’s shocking admission, clarifying his previous point — the “strong response” that Powell is referring to is a market reversal, or bubble implosion. He even admits the existence of the Fed’s “short position on volatility.” This explains the strange behavior of the VIX index, which has plunged to record lows as “someone” continually shorts VIX stocks in order to interfere with any decline in markets.
This interference in the VIX has conjured an aberration, a market calm and investor confidence that is artificial. Such overconfidence, when optimism turns into mania, has happened before. In fact, the end of the Greenspan era was awash in such exuberance. And this delusion always ends the same way — with crisis.
I would also like to mention here that I have seen some disinformation being planted on Powell’s statements in 2012, asserting that he was “not talking about stock markets” specifically. Obviously he is, as you will see in other parts of his statement, but to reinforce the point, here is a quote from another Fed member who spilled the beans, Richard Fisher:
“What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.
It’s sort of what I call the “reverse Whimpy factor” — give me two hamburgers today for one tomorrow.”
Fisher went on to hint at his very reserved view of the impending danger:
“I was warning my colleagues, Don’t go wobbly if we have a 10 to 20 percent correction at some point… Everybody you talk to… has been warning that these markets are heavily priced.” [In reference to interest rate hikes]
So, what happens when the Fed stops shorting volatility and ends the easy money being pumped into markets? Well, again, I think Powell and Fisher have just told you what will happen, but let’s continue.
Powell: “My third concern — and others have touched on it as well — is the problems of exiting from a near $4 trillion balance sheet. We’ve got a set of principles from June 2011 and have done some work since then, but it just seems to me that we seem to be way too confident that exit can be managed smoothly. Markets can be much more dynamic than we appear to think.
When you turn and say to the market, “I’ve got $1.2 trillion of these things,” it’s not just $20 billion a month — it’s the sight of the whole thing coming. And I think there is a pretty good chance that you could have quite a dynamic response in the market.”
Assessment: The Fed balance sheet is being reduced NOW, and Powell as chairman will only continue the process if not expedite it. Some people may argue that Powell is displaying an attitude that would suggest he is not on board with tightening policies. I disagree. I believe Powell will make the argument that the band-aid must be ripped off and that stock markets need some “tough love”.
In fact, Fed members including Yellen and former member Alan Greenspan (is there such a thing as a “former” member of the Fed?) have already been fielding the notion that stock markets are suffering from “irrational exuberance” and that something must be done to “temper inflation.”
Powell is also acknowledging the mass-psychological aspect of investors, now trained like Pavlovian dogs to salivate over stock tickers instead of thinking critically on the implications of equities that “can’t lose”.  When they finally begin to realize that equities can indeed lose, and that the Fed is going to let them lose, what will the result be, I wonder?
Powell: “I think we are actually at a point of encouraging risk-taking, and that should give us pause. Investors really do understand now that we will be there to prevent serious losses. It is not that it is easy for them to make money but that they have every incentive to take more risk, and they are doing so. Meanwhile, we look like we are blowing a fixed-income duration bubble right across the credit spectrum that will result in big losses when rates come up down the road. You can almost say that that is our strategy.”
Assessment: Wow! And there you have it. The new Fed chair’s own prognostications. He even used the dreaded “B” word  bubble. Yes, as I have been arguing for quite some time, the Fed will continue to raise rates and cut off the low cost money supply to banks and corporations that has helped boost stock markets as well as numerous other asset classes.  And now we discover after six years a Fed official, soon to be the Fed chairman, telling you EXACTLY what is about to happen within American markets, reinforcing my long held position.
Powell even mentions that “this is their strategy.” Now, that could be interpreted a few ways, but I continue to hold that the Fed plans to deliberately crash markets and that this will be a controlled demolition of the U.S. economy.
Trump may actually clash with Powell over these measures in the near future, considering Trump has thoroughly taken credit for the insane stock market rally that has dominated since his election. But, this will only add to the fake drama. Imagine, the very man Trump “picked” as the new head of the Federal Reserve undermining the market bubble which Trump boasts about on his Twitter account. The Kabuki theater will be phenomenal.
All the while, the true culprits behind the bubble and the crash, the international financiers and banks, will escape almost all scrutiny as the public mindlessly follows the political soap opera played out in the mainstream media.





SOURCE

3 comments:

  1. I am giving a testimony of how i become rich and famous today, i was deeply strangled up by poverty and i had no body to help me, and also i search for help from different corners but to no avail… i see people around me getting rich but to me i was so ashamed of my self so i met a man on my way he was very rich and he was a doctor so he told me something, that if i would like to join the illuminati brotherhood, and i think over it though out the day so the next day i looked up and i keep repeating what he said to me, and i make up my mind to join the illuminati, today i am so proud of myself, because i am a great man today, well know in the world, rich, famous so if you are also interested to join the illuminati, you are free to join, if you live in America it is free to join the illuminati brotherhood temple, you have to email: churchofdevilinitiationcenter@gmail.com call or text +15084434778 join the illuminati today and enjoy good life with you and your generation.

    ReplyDelete
  2. I am concerned that we are going to have this bubble pop this year.

    ReplyDelete