For years, the United States has held an advantage over much of the world because the dollar serves as the world’s reserve currency. This has given the United States the ability to run large deficits and even weaponize its currency against other countries. As a result, there has been growing speculation that other nations, such as the BRICS countries, will begin trading in a currency backed by gold.
As our relative walked through what had been her family home, she began to cry as she recorded the destruction. Her place was one of the thousands burned down a year ago in the Palisades Fire in Los Angeles. Other relatives living in Altadena had to flee the Eaton Fire at about the same time, although their home was not damaged. Likewise, the childhood home of my wife’s cousins was also consumed in that same fire.
Trump has abandoned the 50-year mortgage scheme, after most people figured out it mostly helps bankers at the expense of ordinary people.
In the Powell v Trump feud, the world’s central bankers support Powell. This is not surprising since central banks coordinate policy to benefit the global banker class.
President Trump on Thursday announced that he will use Government-Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac to buy up mortgage-backed securities (MBSs), essentially creating a new kind of quantitative easing designed to artificially increase liquidity for mortgages in the United States.
Rising yields (highest since 1999) could force Japan to sell US Treasurys to service its own debt. This would then fuel higher interest rates for US debt as well.
“They are part of a group from several allied countries. Together, they will prepare for upcoming elements within the framework of the Danish exercise Operation Arctic Endurance.”
