On Christmas: Let’s Pray President Trump Learned From Jeff Sessions’ Betrayal and Acts on Lunatic Fed Chief Powell Now!
Guest post by Joe Hoft
We first published in November of 2017 the fact that Jeff Sessions was failing America and his duties as Attorney General.
We compared Sessions to Benedict Arnold, who is the person who goes down in US history as the greatest traitor to the nation.
According to biography.com:
Benedict Arnold was born in Norwich, Connecticut, on January 14, 1741. A member of the Sons of Liberty, Arnold rose to the rank of general in the Continental Army during the Revolutionary War. Frustrated by the lack of recognition, he subsequently switched sides to the British and plotted the surrender of West Point. When his traitorous plans came to light, Arnold escaped capture and eventually made his way to England. He died in London on June 14, 1801.
President Trump was voted into office by the American people in the historic 2016 election. He won in an electoral landslide. Before the election he was attacked mercilessly. Since the election, the prior Obama Administration, the Clintons, the Democratic Party, the mainstream media, Hollywood, some elitist Republicans and the ‘deep state’ have worked to steal his win. This concerted attack in large part is because liberals in the US don’t want President Trump to uncover their illegal and traitorous actions when Obama was President.
The main thing that worked against President Trump was his own Attorney General Jeff Sessions.
Sessions recused himself from any investigations into Russia allowing a corrupt investigation into the President’s actions with Russia and/or any other dirt the investigators could come up with. The investigation is not founded in US law. It’s a farce. The investigators are biased, former Hillary and Obama team members and supporters and many, if not all, are involved with the Uranium One scandal.
Uranium One refers to the sale of 20% of US uranium to the Russians by the Obama Administration and his Secretary of State Hillary Clinton. The Clintons made $146 million on the deal and no doubt Obama did too. Sessions’ Assistant Attorney General, Rod Rosenstein, approved the Uranium One deal and then he hired Mueller to clean it up. At the time the deal was approved there was a special FBI investigation ongoing into the deal and it was covered up for years. The Clintons know Uranium One was a big deal as reported in a leaked email from the Clinton campaign.
Many experts in the case believe that the Uranium One deal is the biggest scandal in American history. But Sessions never did anything to investigate the Uranium One scandal. Eventually and right after the mid-terms AG Sessions was finally let go. He will now go down as one of the worst AG’s in US history and perhaps the biggest traitor in US history as well.
Now the President is pressed with another appointee and traitor to the Union – Fed Chief Jerome Powell!
The Dow Jones dropped 653 points on Monday. The Dow is down 5,036 since its all-time high on October 3, 2018.
Since Jerome Powell’s comments on October 3rd and continuing promises of rate hikes the Dow Jones is down now 18.7%.
The stock market crashed 14% after the 9-11 Islamic attacks on America. The Fed’s actions led by their current Chief Powell have done more damage!
The DOW reached another all-time high on October 3rd reaching 26,829. It was up for the 103rd time since Donald Trump was elected President and 46% since the November 2016 election.
This was clearly too much for the Fed’s Powell who then scared investors with his message that he will raise rates well into next year. This and the Fed’s efforts to date since the President was elected scared the markets into its current downturn.
The Fed lowered interest rates to 0% for the Obama Administration and kept these rates at 0% for the first 7 years of Obama’s time in office. Finally, the Fed increased the interest rates 0.25% in late 2015 for the only increase during Obama’s Presidency up to the 2016 election.
After President Trump won the November 2016 election, the Fed began a steady program of increasing interest rates. This program continues to this day and in total the Fed has increased rates 8 times since Trump won the Presidency. The rates now stand at 2.25% and as a result of these horrible and political actions, the Trump economy and Americans’ 401(k)’s are being devastated by the Fed.
The Federal Reserve states on their website that two of its functions are to conduct monetary policy and promote financial system stability.
But the Fed is currently not sticking to its mandates – Just look at the Fed’s rate increases this century and since President Trump won the 2016 election.
Top US economist Stephen Moore stated –
Unfortunately, if you cut engine power too far on a jetliner, it will stall and drop out of the sky.
On Wednesday, December 19, despite the numerous market-based alarms that were sounding in the cockpit, Chairman Powell and his co-pilots on the FOMC voted to raise the Fed Funds rate to 2.50%. This sucks more dollars out of the economy at a time when the world demanding more dollars – thanks to Trump’s Tax cutting and deregulation policies.
Chairman Powell has been entirely tone deaf to the financial markets he seeks to protect. The Dow Jones Industrial average, which had risen by 382 points on hopes that the Fed would listen to President Trump and stop cutting power, plunged by 895 points after the 2:00 PM announcement, and closed the day down 352 points (1.49%). Poof, trillions of dollars of wealth vanished.
Since its peak on October 3, which, not coincidentally, was right after Chairman Powell gave a speech suggesting that the Fed might be through tightening money, the Dow has fallen by more than 3,500 points [now 4,500]. Market fears about his bad judgment have cut the value of all U.S. stocks by about $4.5 trillion, which is enough to buy 16,000 Boeing 787 Dreamliners.
The Fed economists use twisted logic that the economy is “strong enough” to absorb the rate hikes – which is simply an admission that their policy will slow growth.
Also, what’s not in the mainstream yet is how the Fed is adding billions to the annual US debt with their corrupt and crooked policy of raising rates on the Trump Administration.
The US debt now stands at $21.8 trillion. A 2.25% interest increase on this amount of debt is an annual increase in debt interest payments of $500 billion!!!
In no way is the Fed currently sticking to its mandates. It is political. It is doing all it can to destroy President Trump’s economy. The Fed should be shut down and all its leaders prosecuted. Their efforts are not to promote a healthy economy but to destroy it.