08/28/2022 - Yra Harris – Dear Jerome

“The FED cannot eliminate supply bottlenecks but it can reduce demand by raising rates and reducing liquidity through WEALTH DESTRUCTION. That means crushing the global stock markets as the Telegraph’s Ambrose Evans-Pritchard wrote in an oped, “The US Federal Reserve actively wishes to crush Stock Markets: Ignore It At Your Own Peril.” Evans-Pritchard delineates what the FED‘s objective is, and Powell and his minions, “are now on a mission to redeem themselves and prove they can conquer inflation after all. Zeal is a dangerous thing. That is why I fear the Jackson Hole of 2022.”


I believe the strong dollar is going to unleash some real pain upon the global financial system, which will fall back on the FED. Good thing the swap lines and repo facilities are in place to backstop the entire global financial system. Those who praise the strong DOLLAR are singing from a 1970s hymnal when trade was paramount to finance. But in today’s world of FED policy unleashing massive dollar funding upon the emerging markets, be very careful. KING dollar is not what it once was and this is coming from an Austrian-based sound money analyst.”

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.