© unknownChristine Lagarde
You may ask yourself, "What is that beautiful house?"
You may ask yourself, "Where does that highway go to?"
And you may ask yourself, "Am I right, am I wrong?"
And you may say to yourself, "My God, what have I done?"
— Talking Heads, "Once in a Lifetime"
In the face of the Fed's intransigent hawkishness we are now on the verge of exposing the worst lies of two generations of people in power. I've maintained for more than a year now that the global oligarchy known here as
The Davos Crowd thought they'd run the table on the US and the UK with COVID-19.
The various bailout packages, Pelosi's CARES Act and pending legislation — Build Back Better, etc. —
were supposed to destroy the fiscal position of the US once and for all. These were political blackmail to force the Fed not to raise rates when it clearly needed to.That Pelosi et.al. were only able to pass neutered versions of these bills is a sign that powerful forces behind the scenes are not down with this plan.
Now, in light of the near-complete coup attempt against UK Prime Minister Liz Truss (more on that later this week)
we are looking at big power plays to decide whether Davos will retain control over Western policy. Truss' difficulties point to Davos having a few markers to call in here.
But, I want to go back to a couple of weeks ago and also talk about Credit Suisse. At the same time there was a coordinated effort to stop Truss implementing a very non-Davos fiscal program. There was a coordinated whisper campaign to start a bank run on Credit Suisse.
Clearly this attack failed, but it's equally clear
Davos activated the next level of their assault on any institution not aligned with them.
Comment: Some footage of the recent protests and strikes in France:
Translation: