Yes Malarkey!
United States on the Verge of Bailing out the Yen - and Other Horseshit
Above is a snapshot of Uncle Joey Good Brains’ tour bus before Biden and Co. were mocked so hard that they had to remove their snazzy little quip from the sides of their promo mobile.
Maybe it was the mockery that prompted Joe Biden and his luscious smile to remove the antiquated saying from his team’s tour bus. Or maybe it was the gods of irony, because Jesus fucking Christ is Joe Biden and his administration full of malarkey.
More Money Shenanigans: The Yen Bail out
About two months ago, one of Uncle Joey’s political appointees, US Treasury Secretary Janet Yellen, discussed the idea of buying Japanese bonds in efforts to prop up the value of the Yen.
It seems now, that the US government is on the verge of using tax payer money to do so.
Historically, messages like the following haven’t been such a good sign.
I find it very difficult to believe that Joe Biden and his posse are doing their best to fight inflation if they start bailing out another nation’s currency with the US dollars they’ve printed.
Not just another nation, but Japan, a nation whose economy has stagnated due to the zombification of so many of its enterprises and institutions.
The US government apparently loves to prop up entities that are long overdo for collapse at the expense of the US taxpayer.
Hot Air: The Fed Ain’t Rolling Shit off of Its Balance Sheet
On May 4, 2022, Biden appointee, Fed Chair Jerome Powell, claimed that the Fed would begin to roll $95 billion per month off of its $9T balance sheet.
Then he shifted the plan to rolling $47.5 billion per month off of the balance sheet.
Then, here’s what actually happened:
See for yourself. Here’s a chart of the Fed’s balance sheet.
Biden on Human Rights Oil
So, when you hear Biden and his crew talking about fighting inflation or talking about alternative energy and/or energy independence, please laugh - and laugh hard - at them. They’re a bunch of lying silly geese, and they’re full of malarkey.
Update on Sri Lanka
(Slogan of the World Economic Forum: “You will own nothing, and you will be happy.”
Seems like they got the “own nothing” part right. But judging by the video below, it doesn’t look like the “be happy” part is coming to fruition.)
Some of My Words from This Week
I wrote a piece entitled “Reframing the ‘Crypto Crash’” for Nasdaq’s website on behalf of Finder. In it, I discuss how the blanket term “crypto” is a misleading one, and that it’s disingenuous to argue that all crypto has “crashed.”
I contributed some commentary on behalf of Finder to a piece published at The Street entitled “Soaring Inflation Could Dampen Crypto, Analysts Say”. In my commentary, I discuss how bitcoin (BTC) is a good hedge against M2 inflation, but not consumer goods inflation. Don’t know what that means? Read the piece. I explain it in greater detail.
I also contributed some commentary on behalf of Finder to a piece syndicated via Yahoo! entitled “What Can You Buy Using Crypto - And Is It a Good Idea?”
Lastly…
The New York Times recently published a piece about El Salvador entitled “A Poor Country Made Bitcoin a National Currency. The Best Isn’t Paying Off.”
I’d like to extend a warm “Fuck you” to Anatoly Kurmanaev and Bryan Avelar - the authors of the piece - and to The New York Times at large.
I know that part of The New York Times’ mission as a member the fourth branch of the US government is to keep smaller countries subservient to institutions like the World Bank, the IMF, and the World Economic Forum, but it could at least try not to be so transparent about it.
Bitcoin’s price may be down since El Salvador’s adoption of Bitcoin as a national currency, but tourism in the country is up 30% due to the adoption.
Upon reading the piece, I texted an El Salvadorian friend of mine to ask if she wanted to go there with me to visit. I’d be happy to contribute some of my USD and BTC to El Salvador’ s economy.
Admittedly, El Salvadorian President Nayib Bukele’s bet on Bitcoin may not pay off. But Sweet Baby Jesus if it does - if El Salvador does become the Singapore of Latin America - I can’t wait to add this to the list of major missteps by The New York Times, which include the following:
Calling Hitler’s leadership “lofty, unselfish patriotism” in Nov. 1922
Justifying the deaths of tens of thousands who were killed in Russian kulaks using the following analogy in 1933: “you can’t make an omelette without breaking eggs”
Quoting Fidel Castro in 1957 stating the following: “We are fighting for a democratic Cuba and an end to the dictatorship”
(Source: The Gray Lady Winked: How The New York Times’s Misreporting, Distortions & Fabrications Radically Alter History)
Note: I’d like to make it clear here that I think outlets like Fox News or The New York Post - Rupert Murdoch-owned media platforms - are mostly even worse than The New York Times. This, however, doesn’t by default make many NYT opinion pieces good takes.
Annnnnnnnnd that’s enough of my ranting for today.
Hope y’all have had a lovely weekend.
Hug, hug, kiss, kiss, hug, hug, big kiss, little hug, kiss, kiss, little kiss…
Best,
Frank
Twitter: @frankcorva
