Quote from: Torque on Today at 03:13:51 PM

Quote from: aesma on Today at 03:01:42 PM

Quote from: Torque on Today at 02:54:38 PM

Quote from: aesma on Today at 02:49:54 PM

The Fed's role (and the ECB) is first and foremost to control inflation, and after a decade of not having to do anything about it as it was low, now is the time to do something for them.

The Fed actually CREATED the insane inflation that we are seeing by printing 30+% of all U.S. fiat in existence in less that a year and shoving that out into the world.

And now they supposedly want to tame the inflation they themselves created? They can fuck off.

All they are going to do by raising rates is finally get the massive global layoffs they didn't get with Covid and pushing mandatory vaccines.

All by design.

Why would the Fed, a bunch of bankers, care about vaccines, or want layoffs ? What's in it for them ?

1. Fed's friends are the world's billionaires who own all the mega corporations around the world.

2. Mass layoffs = lower overhead costs for corporations, layoffs = demand destruction, demand destruction reduces input costs for goods, reduces number of goods created, stabilizes consumer goods price inflation (supposedly, haven't seen that yet) and increases corporate net profits.

3. Mass layoffs also = reduction in rising salary pressures for corporations due to inflation.

Making mega corporations more profitable, and thus making their wealthy elite buddies happy. THAT is what is in it for them. They could give a shit about low unemployment.

If you think that full citizen employment is the Fed's mandate, then this ongoing chart would like to have a word with you:
https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm

A few months ago when BTC was high, inflation was already rising, yet the big corporations you're talking about where making gigantic profits. Since then their value has dropped, and if there is less demand, there will be less money to be made, regardless of if they layoff or not. And in the US, laying off people isn't exactly difficult, unlike in some other countries.

If you take Google or Apple, despite paying thousands of people very well, they manage to make billions every month, why would they want to upset the situation ?