EXPLOSIVE: NY FED BAILS OUT WALL STREET FIRM IN LIQUIDITY DISASTER AS US MULLS REMAKE OF 2007 #GrubStreetJournal @GrubStreetJorno #WikiBallot @Wiki_Ballot

The Slog

DSCN0260 We who are not worthy must not be told who the banking firm was (of course not) and as usual the MSM is not pushing things too hard to find out. But the signs of Big Trouble are there, the Fed is shorting gold, MMT isn’t working and the bankers have run out of ideas. Elective governance is facing more than an econo-fiscal crisis: it’s decision time – do we reverse Nixon or not? It’s a rock and a hard place for Trump.

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Yesterday, Jerome Powell announced the US Fed’s decision to cut rates for the second time this year at a news conference in Washington….further evidence to support The Slog’s contention that rate “normalisation” is a fantasy.

What Jay Powell didn’t mention is that the day before, the New York Fed piled in with an eye-popping $33 billion to save a major Wall Street banking institution from…

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