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Wisdom Wednesday- What Is The Cantillon Effect Of Bidenflation? This! with David Simpson

Premium Wisdom Wednesday Episode March 2, 2023 1 Like

9 Followers 51 Episodes

Special Guest David Simpson

Today is Saint David of Whales feast day.

War of the Worlds on Epix

The Holy Ghost has warned us about a lot.

In the 1950’s and 60’s Phillip K Dick wrote about what we are seeing now.
No one knew about the submarine until 20,000 leagues under the sea was written.
From science fiction to science fact.
If they can randomly hand out fake money for the loan and then hand out fake money to forgive the loan how can anyone say what is going to happen to the market.
ANY market!

HEADLINE: Mortgage demand from homebuyers drops to a 28-year low by Diana Olick

Mortgage applications to purchase a home dropped 6% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 44% lower than the same week one year ago, and is now sitting at a 28-year low.
Mortgage rates have moved 50 basis points higher in just the past month. Last February, rates were in the 4% range.
If the Federal Government can’t loan money anymore for Student Loans, the local bank has to right?
So where does the bank get the money to loan said student?
Why don’t we get a mortgage holiday or it being forgiven b/c the same Federal Gov gave the bank the money for my mortgage too?!!!!!
Why just forgive student loans?
Trying to get a loan for his son to buy a truck and asked about the interest rate and the local bank told him the BEST he could do is 12-16% interest.
So he told the teller, okay I have about $50,000 in that bank right now, get you a Kroger bag b/c I’m coming to get it in an hour and he did! He grabbed every cent he had w/ that bank.
That is how we should ALL be acting that way w/ our local banks.
Is this a Federal Reserve thing?
Yes all banks are members of the FDIC.
Is there some side step out of this Federal Reserve stuff?
Can we make our own bank?
Stay constant and steady –
When you give up the TV for Lent you realize you have 3 hours in the afternoon that you just don’t have anything to do!
Maggie has read 4 books this Lent already!

HEADLINE: Going For Gold by Jacob Imam

Because fiat currency is not based in the natural order, it causes the people who use it to suffer. The ability to print money as “needed” may be a boon to business, but in actual fact, most of the money printed is gobbled up by the banks. “The Cantillon Effect” describes the fact that the chief beneficiaries of the expansion of the money supply are the first recipients of the new money (usually the banks): they are able to spend the funds before they have caused prices to increase. Those next receiving the money (other major corporations jumping on the new lines of credit) face a small increase in price levels, and so on. The last recipients of the new money (the poor and the middle-class) face the greatest inflation in prices with the proportionally few dollars that trickle down to them.
In short, by printing and distributing money through specific corporate channels, central authorities have not only diminished the value of the common man’s savings but have drastically increased the wealth-gap between those associated with the state and those who are not. This was dramatically seen during the COVID-19 crisis when, between March 2020 and April 2021, the base monetary supply in the US increased by 29.9% and US billionaire wealth increased by 61.9%. Likewise, the top five Wall Street banks—JP Morgan Chase & Co, Goldman Sachs, Bank of America, Morgan Stanley, and Citigroup—earned an additional $51 billion that year compared with the year previous.