Mixed Messages – Fat Tail Daily | Term Deposits

Day two of our journey handed with out incident. The ship is full, so the eating places and bars additionally are typically full.

Meals are eaten communally. That is, we sit at large tables and are obliged to speak to different vacationers. We usually are not usually very sociable. But we nearly all the time like people once we get to know them.

So far, we’ve got met a librarian from England, a historical past instructor from Portland, Oregon, and a couple from Seattle. All of them had been well mannered and nicely spoken. (We prevented sensitive topics — politics… faith… intercourse… and the decline of the late, degenerate empire.)

Meanwhile…

We appear to have been inadvertently added to a very particular chat group. President Trump convened a pow wow to speak about his plan for a new currency.

On the call was Fed chief Jerome Powell, Treasury head Scott Bessent, J.D. Vance, Elon Musk and a lesser solid that we don’t bear in mind. For an unknown motive, maybe it was a mistake, we had been included.

It shouldn’t be on daily basis that we get invited to affix a secret White House coverage assembly. Naturally we had been thrilled to search out out what the honchos had been planning. We cross alongside the dialog to you…from reminiscence.

Scott Bessent: Mr. President, we’ve bought a couple of issues. Even with the great work that Elon is doing, federal spending continues to be greater this 12 months than it was in Biden’s final 12 months. We’ll finish up with one other $1 trillion deficit — not less than. And we’ve got the CBO (Congressional Budget Office) forecasting a decrease GDP. We know that our insurance policies will create a Golden Age, as you say. But it gained’t occur in a single day. And we’ve got some important elections (mid-phrases) coming up earlier than voters see the gilt.😕

Donald Trump: Don’t fear. The tariffs will take care of it. Beautiful phrase, ‘tariffs.’ The Fed goes to cut charges. And what with the tax cuts, and decrease price of oil, we’re going to see growth like we’ve by no means seen earlier than.🔥💯🇺🇲

Jerome Powell: Mr. President, this will not be the best time to cut charges. We’re elevated volatility and stubbornly persistent inflation. I feel we must always maintain charges regular for a whereas. Besides, if we cut charges now it’s more likely to signal that we’re not critical about preventing inflation.🤔

Donald Trump: Look, don’t fear about inflation. It’s going to go down tomorrow. Liberation Day. And we’re switching out of the greenback quickly anyway. Nobody will care what the inflation charge is, as a result of the greenback can be historical past. 💪✊👍

Jerome Powell: What?🤯

Donald Trump: Didn’t anybody inform you? We’re going to introduce a new digital currency. It can be referred to as the Trump. And we’ll convert all of that federal debt…what’s it, up to $20 trillion now?…to Trump notes. We’ll repay each penny in Trump notes. No more debt. Then, we’ll have a strong currency that everybody will trust. When we need more money we’ll simply print up some more Trump Notes. No more borrowing. No more debt. And if the Fed doesn’t go alongside…I’ll rain down Hell on it.

Jerome Powell: Excuse me?

Donald Trump: You heard me. Houthis, Hamas, Iran — I’m going to bomb the crap out of all of them. And I’m going to have some bombs left over…for the Fed, Canada, campus protesters, law companies that resist me…Rachel Maddow…Thomas Massie…I’m going to get that son-of-a-b!&@#…Hell goes to interrupt unfastened on all of them…and any of these nations that attempt to get round our tariffs…or attempt to get collectively to combat back. I’ll bomb them too.

Elon Musk: Maybe we must always back off some of this bombing speak. People are getting stressed. And aggressive. They don’t like your insurance policies so that they assault my vehicles.🚙🔥

Donald Trump: We’ll get even with them. They’re terrorists. We’ll spherical them up and deport them.✈✈✈

Elon Musk: But they’re US residents. You can’t deport them. Where would you ship them?

Donald Trump: I’ve bought a deal with Budele…Dubele…no matter his title is in El Salvador. We pay them $10,000 for each and ship them them as many prisoners as we wish. . And when you declare them terrorists, you don’t need to deal with liberal courts and the judges Obama appointed. Judges…Democrats…reporters…Canadians — they’re all terrorists. We’ll deport all of them.

Elon Musk: But it’s occurring all around the world. Those damned Chinese are promoting more vehicles than we’re. And we will’t deport Europeans from Europe…or deport people for not shopping for our vehicles.

Donald Trump: No, however we will bomb the hell out of them.💣💣💣

Scott Bessent: Bomb Europe?

Donald Trump: Why not? They’ve been ripping us off for many years. They ought to have spent a lot more on their own protection. And they’ll be sorry they didn’t. It’s time we bought even with them. Bomb all of them. But we gained’t need to. I’ll speak to them. We’ll make a deal. And in the event that they don’t go alongside, we sanction them, tariff them, and bomb them. And perhaps I’ll determine to not bomb them…or to not tariff them.

J.D. Vance: With all due respect, Mr. President, the strategic significance of this chance can’t be overstated. This is our alternative to bomb the Hell out of Europe — the snobby, snooty leftist parasites. And we must always nuke Greenland. Those bastards gave me a very ‘cool’ reception final week…ha ha.💣🚀💣

A younger, unidentified feminine voice: Yeah, and if it weren’t for us, they’d be talking German.

Jerome Powell: Well, really, many Europeans do communicate German.

The assembly continued.

But we needed to drop out. We had a dance lesson.

Regards,

Bill Bonner,
For Fat Tail Daily

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