The Milgram Experiment Redux

Look it up.

This time, Chairman Powell is wearing the white jacket, posing as: “The Authority,” telling unsuspecting dupes, us, to pull the switch sending deadly shock waves into other dupes.  Why? Because we have learned to obey orders from people in white jackets at big institutions.

First he tells us repeatedly that his actions above will not cause inflation.

A Brief History of Monetary Mistakes

BYCHRISTOPHER LEONARD, Fortune magazine

22, 2021 at 7:34 AM PST

“The Federal Reserve is a uniquely powerful institution: It is the only entity in the world that can create new U.S. dollars out of thin air. And the Fed has exercised this power on an unprecedented scale over the past decade or so. Between 2008 and 2014, the Federal Reserve created roughly three times as much money as it had created between 1913 and 2007. In other words, it crammed about 300 years’ worth of money growth into a few short years. And then when COVID hit in 2020, the Fed printed about another 300 more years’ worth of money in a period of months—some $3 trillion.”

Bernanke used the first $1.5 Trillion to bail out Wall Street from it’s financial fiasco, that dammed near caused the biggest depression the world had ever seen. Yellen added a couple of trillion to that for good measure, and then Powell doubled down to get us in the mess we are currently in. To top it off. Two members of Powell’s board were caught trading on inside information of this uncalled-for stimulus.

Now we are going to allow him to punish us for his mistakes by causing a recession???

The economy is too strong, so lets cause million of people to lose their jobs???

It’s time to ask Powell to turn in his white jacket!

About Frank Sortino

Frank Sortino is finance professor emeritus from San Francisco State University and Director of the Pension Research Institute which he founded in 1981. For 10 years he wrote a quarterly analysis of mutual funds for Pensions and Investments Magazine and he has written two books on the subject of Post Modern Portfolio Theory. He has been a featured speaker at many conferences in the U.S., Europe, South Africa, and the Pacific Basin. Dr. Sortino received his Ph.D in Finance from the University of Oregon and has carried out research projects with many institutions like Shell Oil, Netherlands and The City and County of San Francisco Retirement System.
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