Fed Just Admitted It No Longer Has a Clue What’s Going On
By Graham Summers / GoldSeek
The Fed July FOMC minutes, that were released last week, were nothing short of extraordinary. However, to fully appreciate just what the Fed admitted, we first need a little background.
From November 2016 until June 2017, the Fed was pushing a hawkish agenda. The running mantra at this time was that the Fed would raise rates 3-4 times in 2017. As the year progressed, the Fed also began talking about shrinking its balance sheet.
The Fed’s justification for these moves was that inflation was rising and the economy was strong enough to tolerate these moves. As a result the Fed hiked rates twice, first in March and then again in June 2017.
Then, in late June, the Fed suddenly did a complete 180, stating that it was just about done with rate hikes. Moreover, the Fed stated that shrinking its balance sheet would not remove liquidity from the system.
Put simply, the Fed switched from hawkish to completely dovish in the span of two weeks.
This, in of itself, was bizarre. The Fed’s entire purpose is to maintain financial stability. How it could possibly claim it is doing this by changing its entire strategy suddenly and without warning is beyond me.
And then we get last week’s release of the Fed July FOMC minutes.
The minutes were complete insanity. I realize that many commentators are trying to argue that the Fed was hawkish. But it wasn’t. The Fed was in total chaos.
Let’s take the example of inflation.
According to the July FOMC statement…
- Most participants expect inflation to pick up over the next couple years.
- Many Fed participants think inflation will remain below 2% longer than expected.
- Many Fed participants believe that inflation measures dropped recently due to “idiosyncratic factors.”
- A few Fed participants believe the Fed’s framework for forecasting inflation is no longer valid.
- Some Fed participants noted their increase uncertainty about the outlook for inflation. !?!?!?
Like I said, the Fed is in total chaos.
There was a similar lack of unity of just about everything: the labor market, lending risks at banks, Federal Government policy, etc.
However, there was one line in particular that stood out.
However, most participants thought that the framework remained valid, notwithstanding the recent absence of a pickup in inflation in the face of a tightening labor market and real GDP growth in excess of their estimates of its potential rate.”
The Fed admits here that the labor market is tight, real GDP growth is stronger than Fed estimates, but inflation is failing to pick up.
This is astonishing. According to the Fed’s dual mandate, the Fed is supposed to seek maximum employment while stabilizing prices and moderating long-term interest rates.
In plain English, the Fed is supposed to pursue solid economic growth, with maximum employment, while keeping inflation on an even keel.
Today the Fed is finding that employment is very strong, the economy is relatively strong, and inflation is weak.
According to all Fed models this is impossible.
This is why the FOMC minutes claimed many members thought inflation had dropped due to “idiosyncratic factors.” The alternative reality (that the Fed has no idea what’s going on) is too disturbing to admit publicly.
Unfortunately, that alternative reality is in fact REALITY. The Fed no longer has a clue what’s happening in the financial system. This is because the Fed cannot actually generate economic growth, it can, at best create massive bubbles.
Speaking of which, what do you think will happen to our latest bubble when investors figure out the Fed’s lost control?
You’ve been warned.
Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research
http://phoenixcapitalresearch.com/
http://news.goldseek.com/GoldSeek/1503583740.php
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Whistler Blowers, Insiders
GRAND LARCENY…….that is what is going on
visited upon the peoples of the World by the …..ILLEGAL ALIEN……THIEVING…….RATsCHILD/ROCKEFELLER & CO: BANKSTERS
In SPITE of …..
UNLAWFULLY REQUISITIONING 
….ALL ……TAX PAYMENTS…..proffered by the peoples of USA …FOR the
PAST… 114 YEARS…….AND…….FRAUDULENTLY …….EMBELLISHING …….wood-pulp with ink…..WHILST…….”charging”…..the peoples of
USA….a……FACE-VALUE…….DENOMINATED …..”fee”………for the …….PAPER……the so-called “Fed” cannot BAAL-LANCE the “books”
9 Trillion or 9,000,000,000,000 Missing from FEDERAL RESERVE — SHOCKING VIDEO
https://www.youtube.com/watch?v=q9pnc7IXpC0
* * *
Did You Know the IRS and the Fed are Private Corporations?
WHO CONTROL the IRS, the IMF, and the UN?
The IRS, the IMF, and the UN are controlled by the Crown Temple, which is the secret society that controls the Crown of England.
The Crown Temple and the Crown of England take orders from the Pope of the Vatican!
The Vatican has a strong relation with the Illuminati, but even more so with the Jesuits.
These secret societies along with the Nazis, the Zionists, the Skull and Bones, and the Freemasons are known as the New World Order (NWO).
How to STOP the IRS, the IMF, and the UN from DESTROYING your LIFE and humanity
The IRS, the IMF, and the UN ….ACTUALLY HAVE NO JURISDICTION OVER the AMERICAN PEOPLE or the PEOPLE of the WORLD.
Their actions of STEALING money FROM the PEOPLE of the world are UNLAWFUL; however, they …
ARE LEGAL. 
Lawful and legal are two terms that you need to study if you want to learn how to stop the IRS, the IMF, and the UN from destroying your future and the future of humanity.
For some interesting facts about lawful and legal, read my empowering article titled Did You Know ALL DEBTS are PREPAID & FRAUDULENT ?
Here are two great court cases that explain why no corporation, including the government or the church, has jurisdiction over the common people who are sovereign………….
see ORIGINAL post .
TAXATION
Most people living in the USA have no clue that the Internal Revenue Service (IRS) is A FOREIGN AGENCY.
To be more accurate, the IRS is a foreign PRIVATE CORPORATION of the International Monetary Fund (IMF) and IS THE PRIVATE “ARMY” of the FEDERAL RESERVE (Fed).
Its main goal is to make sure the American people PAY their TAXand be GOOD little SLAVES.
EVIDENCE showing that the…. IRS isn’t PART of the United States GOVERNMENT.
Like the Federal Reserve (Fed), the
IRS isn’t part of the United States government.
PRIVATELY OWNED …FEDERAL Reserve.
Instead, IT is A COLLECTION AGENCY of the
As published at ModernHistoryProject.org.
The INTERNAL REVENUE SERVICE is considered to be a Bureau of the Department of the Treasury; however, like the Federal Reserve, it is NOT PART of the FEDERAL GOVERNMENT (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I.; Public Law 94-564; Senate Report 94-1148, pg. 5967; Reorganization Plan No. 26; Public Law 102-391), and in fact was incorporated in Delaware in 1933.
It is pointed out that ALL OFFICIAL FEDERAL GOVERNMENT
MAIL 
is SENT POSTAGE-FREE because of the franking privilege, however, 
the IRS HAS to PAY THEIR OWN POSTAGE…… 
WHICH INDICATES THAT THEY ARE NOT A GOVERNMENT ENTITY.
If you have ever sent a CHECK to the IRS, you will find that it was ENDORSED over to the FEDERAL RESERVE.
The Federal Reserve, in turn, DEPOSITS the MONEY with the International Monetary Fund, AN AGENCY of the UNITED NATIONS (Black’s Law Dictionary, 6th edition, pg. 816), where IT IS FILTERED down TO the International Development Association (see Treasury Delegation Order No. 91), which is part of the “International Bank for Reconstruction and Development”, commonly known as the WORLD BANK.
Therefore, it is now clear that the American people are unknowingly contributing to the coming World Government.
http://www.wakingtimes.com/2015/01/27/know-irs-fed-private-corporations/
* * *
N.B.
The ….FOR-REIGN CORP O’RATions…..”screwing” EVERY CENT …..out of the peoples of the US are……..
ILLEGAL ALIENS in the UK and more particularly London; including the so-called
“square mile” of the city of London…………………………… previously named…….New Troy !
AND…..as ILLEGAL ALIENS ……THEY……held/hold……NO LAWFUL AUTHORITY to “engage” in any enterprise lawful or otherwise……in the UK and/or……IN OTHER JURISDICTIONS……..from a “base” in the UK
THEY were EVICTED ….IN PERPETUITY…..under the ‘Edict of Expulsion’ of 1290.
The Edict of Expulsion, passed by King Edward I in 1290 and calling for all Jews to leave Britain, has never formally been revoked.
http://www.ynetnews.com/articles/0,7340,L-3302296,00.html
The ‘Edict’will NEVER be LAWFULLY REVOKED.
Once Indigenous British Sovereigns are FULLY INFORMED of the HEINOUS PERFIDIES of the “joo$” THEY WILL NEVER CONSENT to a revocation of the ‘Edict’.
HOW did the “joo$” EFFECT UNLAWFUL INGRESS back into the UK ?
THEY bribed the TRAITOR Cromwell.
John Hamer: The English Revolution and the Execution of King Charles I
http://chrisspivey.org/john-hamer-the-english-revolution-and-the-execution-of-king-charles-i/
* * *
Rabbi Michael Laitman says it as it is…….
Rabbi teaches that Jews are interdimensional alien commandos sent to conquer earth
https://www.youtube.com/watch?v=OzTnomA2qQY