03/07/2022 - Yra Harris: A Quick Hit On the State of Chaos
“The best things going right now for the global financial system are the FED‘s dollar swap lines to many banks and the Foreign International and Monetary Authorities Repo Facility, which the G-30 pushed Chair Jerome Powell to make permanent. This provides generous backstop for foreign institutions, which is important because something is definitely ROTTEN in DEMARK, FRANCE, GERMANY, ITALY, et al. What it is I don’t know but at this point, watch the European system. All acts of war and the sanctions will deliver unintended consequences. Be patient and let the false headlines be played by those relying on the newest expert to fill the airwaves. And also, let’s see where the FED goes in response to political systemic risk.
We’re only just beginning to evaluate and assess but the longer this goes on the more damage will be done as FOOD becomes scarce as countries are forced to protect their populations and four million barrels of Russian OIL go searching for buyers. Upon listening to the Chair of the House Agricultural Committee David Scott at Powell’s testimony last week I wouldn’t be surprised to see the Biden White House move to limit U.S. ag exports if prices continue to push higher and worries of scarcity arise. The optics of headline inflation are harming the Dems’ chances in November. As always in politics, OPTICS provide an incentive when policy is failing.”
