The Pentagon summoned the Pope's ambassador, told him the United States has the military power to do "whatever it wants," and warned that the Church better take its side.
They even invoked the Avignon Papacy, a dark chapter in history when a government used military force to bend the Church to its will.
So where exactly does this end? If the Pope refuses to fall in line, what's the next move, bomb the Vatican?
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Who else is excited for the most well-telegraphed FOMC meeting tomorrow… 25bps / Hawkish Pause essentially written in stone by the majority.
Where I think it gets interesting is the fact that the Fed has continued to support growth over nailing down inflation these last months & it more so seems they’ve accepted 2% inflation won’t happen unless you get some sort of slowdown (continuing to cut rates whilst inflation remains stubbornly above target = generally supportive of growth over nailing inflation).
These past inflation reports haven’t been the best & the recession buzzword from August has indeed shifted to inflation (shocker)… But, Powell himself said 1-2 bad prints won’t change course. The one piece to acknowledge is with this recent Jobs report, U3 was only a couple ticks away from making a new cycle high (What Freaked the Fed out in August given it was well above their forecasted target for the year), so it’ll be interesting if the “Hawkish Pause” isn’t as hawkish as expected as Powell once again sees U3 near cycle highs & or if he finally man’s up to try and put these recent inflation worries to rest.
I do think people could be giving Powell too much credit in coming out full hawkish, as again, U3 is already well above what the Fed forecasted for this year & it inevitably will likely lead to the Fed cutting more than expected in ‘25 as they have said several times rates remain too restrictive.
As the lead former hostage negotiator in the FBI, I will say with certainty that the level of manipulation by the mainstream media should not be overlooked when we look back on what exactly led to this moment.
An election is also a negotiation… and many of the people with the megaphones and pens have not been doing their jobs.
If @joebiden loses, there is a good chance you will be able to thank @GaryGensler and the @NewYork_SEC
Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD
All he has done is make it nearly impossible for legitimate crypto companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs.
This is also a warning to Congress. Crypto voters will be heard this election. You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them
Or you could do the better option and assign all crypto to be regulated by the @CFTC
They actually know what they are doing
@ericswalwell@SenSchumer