A sign that the American monetary system won’t last…. and why you must own gold and silver!
The governing classes and the people in Washington are stealing everything that isn’t nailed down. It sounds like hyperbole to say that it is the end of times. We don’t exactly say that, but we do say that the Washington hogs ferocious and frenzied feeding at the taxpayers’ trough is a sign that it is the end of the existing fiat monetary system. They know it, so they are gobbling up everything they can, while they still can!
Two examples should be enough to illustrate the shamelessness of the larceny, one from the Bidenistas, the other from the Federal Reserve.
Watch Senator Josh Hawley as he questions the Director of the Loan Programs office at the US Department of Energy about events at which people seeking loans from the Energy Department pay to hear him speak.
The Washington Free Beacon reports that the official in the following video, Jigar Shah, founded the private trade association, Cleantech Leaders, which is now a “gatekeeper for companies seeking billions of dollars in financing from Shah’s office.”
Companies connected to the trade association have raked in cash from Shah’s office. Last week, the Loan Programs Office approved a $3 billion loan to a solar company led by Cleantech Leaders’s board director. The group’s corporate sponsors have also pulled in funding.
The cozy relationship between Shah and Cleantech Leaders is raising questions about whether the organization’s members are getting favorable treatment in the loan process.
You will note that Senator Hawley is befuddled at the decision-making official’s complete lack of shame at this apparently corrupt behavior. But there is no shame when the system is collapsing.
But the next one is even worse!
Robert Kaplan is the former president of the Dallas Federal Reserve Bank. While Kaplan (a former vice chairman of Goldman Sachs – of course!) was a voting member of the interest-rate and policy setting Fed Open Market Committee, he was secretly trading his own account “like a hedge fund kingpin!”
That’s the description from Wall Street on Parade. From their report:
To understand how truly bizarre and alarming the trading scandal case involving former Dallas Fed President Robert Kaplan is, some important background is necessary:
Kaplan didn’t just trade in and out of stocks while a voting member of the interest-rate setting committee of the Fed (known as the Federal Open Markets Committee or FOMC); Kaplan also traded in and out of $1 million+ lots of S&P 500 futures. That is astonishing; unprecedented; and lacks any viable justification for a sitting Fed official… Kaplan resigned from the Dallas Fed in September 2021, the same month that the trading scandal went viral in the news….
S&P 500 futures gave Kaplan access to making directional bets on where the market would go after the stock market closed, which is typically when the Fed makes market-moving announcements.
It is worse than that. It has been more than two years since the Kaplan trading scandal was discovered. He “retired early” from the Fed, but there has not yet been any official finding from any internal Fed investigation, much less any finding or action from any relevant law enforcement or regulatory bodies at issue.
Furthermore, Wall Street on Parade reports that Kaplan “brazenly refused to list the specific dates of his stock and S&P 500 futures trades as specifically required by the financial disclosure forms.”
Brazenly. Shamelessly. Those are good descriptors for the behavior of the governing classes in the time of collapse.
And that is just one more reason to protect yourself with gold and silver!