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NoLimit
@NoLimitGains
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🚨 NEW FED CHAIR: KEVIN WARSH

It’s official: Kevin Warsh has been nominated as the next Fed chair.

The markets don't like it.

I don't really like it either.

But what is happening behind the scenes is much deeper than a simple appointment.

Here’s the truth:

Make no mistake, Bessent is behind this.

Why Warsh?

CREDIBILITY.

The goal is to restore the Fed's legitimacy, which has been shattered over the last 15 years.

Since 2008, the Fed hasn't just been a central bank.

It became the market's guardian angel.

Injecting liquidity the moment things got scary.

Protecting asset prices.

Warsh is the biggest critic of this model.

His view is simple:

If a market cannot correct, it’s not a market.

Warsh believes the Fed has gone rogue.

It expanded beyond its mandate to become a "universal insurer."

Appointing him sends a massive signal:
The Fed is returning to its core lane.

– Inflation control
– Banking stability
– NO more automatic market bailouts

This is where it gets complicated.

Trump thinks in terms of POWER.

He wants technological domination and reindustrialization.

He needs low rates to finance it.

Warsh might not give him that.

The US has massive debt and deficits.

The real fear is "Fiscal Dominance."

Will the Fed be forced to keep rates low just so the Treasury can survive?

Warsh hates this idea. He hates debt monetization.

THE VERDICT?

The markets are panicking because of the uncertainty.

But the likely outcome isn't war between the Fed and Trump.

It’s informal coordination.

But there is a red line:

If inflation rips higher... Warsh will have to choose between institutional credibility and political loyalty.

The next 4 years are going to be full of surprises.

But don’t worry, I’ll keep you updated on everything as time goes by, like I always do.

Btw, I called every market top and bottom of the last decade, and i’ll call my next move publicly like I always do.

Many people will wish they followed me sooner.

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January 21, 2023
More Leftie Than Thou
"Jacobin" Magazine Celebrates A Strike Against Ol' Blue Eyes

Here at "The Gaggle" we have very little time for the "more Leftie than thou" school of thought--that's the approach to life according to which the only thing that matters is whether you take the right position on every issue under the sun from Abortion to Zelensky. No one in the world meets the exacting standards of this school of thought; any Leftie leader anywhere is always selling out to the bankers and the capitalists. The perfect exemplar of this is the unreadable Jacobin magazine. 

The other day I came across this article from 2021. It's a celebration of trade union power. And not simply trade union power, but the use of trade union power to secure political goals. Of course (and this is always the case with the "more Leftie than thou" crowd), this glorious, never-to-be-forgotten moment on the history of organized labor took place many years ago--in the summer of 1974 to be exact. Yes, almost half a century has gone by since that thrilling moment when the working-class movement of Australia mobilized and prepared to seize the means of production, distribution and exchange. 

Well, not quite. Organized labor went into action against...Ol' Blue Eyes, the Chairman of the Board, the Voice; yes, Frank Sinatra. Why? What had Sinatra done? Sinatra was certainly very rich, and he owned a variety of properties and businesses. But if the Australian trade union movement were, understandably, searching for the bright, incandescent spark that would finally awaken the working class from its slumber there were surely richer, greedier, more dishonest, more decadent, above all more Australian individuals it could have discovered. Australia was never short of them. Rupert Murdoch immediately springs to mind. Why Sinatra?

 

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