This is epic. This is like listening to Grandpa rail against the Federal Reserve and central banks without realizing the motive behind what the Federal Reserve and central banks are doing. This is the best example of the misconception behind ‘The Great Pretending,’ to date.
U of Penn, Wharton Business School professor of finance, Jeremy Siegel, rails against Jerome Powell and the central bankers for raising interest rates into a collapsing western global economy. Everything, everything he outlines, is essentially accurate about the damage being done to western economies. …. Except the biggest realization and acceptance is missing…. It’s being done by design. The people he outlines are not making a mistake, they are doing it on purpose. First, WATCH:
The U.S, EU, CA, AU and western economic central bankers did not respond sooner to the inflation crisis (2021) because the central banks were waiting for the politicians in their systems to establish the energy policy that their pre-planned action was intended to support. [<- Reread that if needed].
Once the collective Build Back Better/Climate Change energy policy was established (2021), and after the resulting inflation created the justification for the central bank action, then -and only then- did the central bankers trigger the next phase of raising interest rates (2022) to reduce western economic activity and support the Build Back Better agenda.
All of this was by design. None of this was by mistake. The process, strategy and timing were all part of the Build Back Better agenda. Purposefully created inflation, the result of the energy policy, was planned and used by the central banks to justify the rate increases. It was a self-fulfilling prophecy built into the Build Back Better roadmap.
Now these ‘bankers’ are trying to collapse the economy to meet the reduction in energy production. The bankers are supporting the political motives of the politicians. This is all intentional. Jeremy Siegel misses this core and fundamental aspect. However, some of the lesser ideological western leaders (politicians) are starting to get ‘cold feet.’link