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Federal Reserve Chairman J. Powell PRANKED By “Fake Zelensky”

The people running the world are…how should I say this….”NOT SMART”.

Countless examples but here’s the latest.

Federal Reserve Chairman Jerome Powell just got pranked by a “Fake Zelensky” phone call.

Yes, for real.

In something that belongs on a wacky morning radio talk show, the man running the world’s money just got pranked by a guy pretending to be Vlad Zelensky.

Unreal.

Does he really not have a call screener?

Or if he does I’m guessing that guy is looking for a job right about now.

The call went on for a LONG time and several key things were divulged.

For example, he said two more rate hikes were already set in stone.

Wow!

Yes, the story is real:

KimDotCom had a good laugh at it:

Here is the clip where he reveals TWO more rate hikes are coming:

And then high rates for a “long time”:

More here:

Full video here:

Backup here:

Here is more on the story, from CNN:

Federal Reserve Chairman Jerome Powell earlier this year held a video chat about the global economy with someone he thought was Ukrainian President Volodymyr Zelensky. Except it wasn’t Zelensky. Powell appears to have been pranked.

In clips posted online of the January conversation, Powell discussed global politics and the economy. He said he supported the Ukrainian people but was limited in ways he could help. And Powell said a recession was likely coming in the not-too-distant future and divulged the Fed’s plans to raise rates in 2023.

Powell has said all of that publicly as well.

A Federal Reserve spokesperson acknowledged Powell participated in a conversation in January with someone who misrepresented himself as the Ukrainian president. But the spokesperson notes the clip had been edited and could not confirm its authenticity.

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, March 22, 2023, in Washington.
The banking crisis will tilt US into recession, say Fed economists.

“It was a friendly conversation and took place in a context of our standing in support of the Ukrainian people in this challenging time,” the spokesperson said. “No sensitive or confidential information was discussed.”

The Fed said it referred the matter to law enforcement.

Meanwhile, QuoteTheRaven on Substack says the Fed is “bankrupt”:

Federal Reserve Chair Jerome Powell recently testified before Congress on the current state of the US economy. In addition to monetary policy, Powell was questioned about the Fed’s regulatory proposals regarding cryptocurrencies and climate-related financial risks.

Barely mentioned, however, was the Fed’s balance sheet. The Fed has experienced significant operating losses over the last six months, which have exhausted its existing capital. Those losses represent foregone revenue to the US Treasury.

Operating losses

In the post-pandemic period, the Fed expanded the money supply significantly to support a swift economic recovery. It did so by purchasing vast amounts of US Treasury bonds and mortgage-backed securities. While those assets seemed like good investments at first, they are now a major hole in the Fed’s financial position.

When the bulk of the Fed’s quantitative easing (QE) programs took place in 2020 and 2021, market rates on long-term Treasury bonds fluctuated mostly in the range of 1.5 to 2.0 percent. At the time, the Fed was paying interest on bank reserves and overnight reverse repurchase (ONRRP) agreements of 0.15 or less. The Fed profited on the difference between the higher rate it received from its bond purchases minus the lower rates it paid on reserves and Overnight Reverse Repurchases (ONRRPs).

Now, the Fed has raised the interest it pays to 4.55 percent on ONRRPs and 4.65 percent on bank reserves, but the rates it earns on its QE purchases remain mostly unchanged. Assuming, as a rough approximation, that the bonds it purchased pay an average rate of 1.75 percent, and the average rate paid on bank reserves and ONRRPs is 4.6 percent, then the Fed is paying about 2.85 percent per year more than it receives on its $8 trillion dollar securities portfolio. That’s a loss of $228 billion per year!

The bankrupt central bank

The Fed is bankrupt — and I don’t just mean intellectually.

Like a private bank, the Fed maintains some level of capital as a buffer against losses. When those losses exceed the value of its capital, the Fed becomes insolvent, meaning the liabilities it owes to others are greater than the total value of the assets it holds.

The most recent data show that the Fed owes the Treasury over $41 billion, which exceeds its total capital. The Fed, by common standards, is indeed insolvent.

Meanwhile, in a related story, have you seen this?

The Dollar Is Finished! It’s About To Get VERY Bad….

I’ve been shouting about this from the rooftops for a while now…

I hope you’ve been listening.

And about two years ago, my friend Bo Polny started warning about this.

He was laughed at and mocked back then, but not any more.

No one EVER thought the United States would lose its place as the World’s Reserve Currency, but it’s happening right before our eyes.

And if you don’t know what that means or why it matters, you need to watch this from Tucker.

Trust me, it matters almost more than anything else.

We’re in for some very bad times.

Years.

Decades.

It could get ugly.

Watch this:

This might be catching YOU off-guard, but trust me when I tell you it is NOT catching the Elites off-guard…

In fact, they’ve been buying gold hand over fist for the last couple of years.

Here’s Why Central Banks Are Buying All the Gold They Can — And What YOU Can Do!

For the last year, central banks across the globe have been buying up as much gold (and often silver) as they can acquire without raising alarm bells. Now, we see why.

The recent bank runs and ongoing collapse of the U.S. banking system was anticipated by the “elites” and the central bankers who run things behind the scenes. They saw it coming and knew the best way to protect their assets was through physical precious metals.

If you’ve been waiting for me to bring you a solution about what YOU can do to protect yourself and you’re family, I’m happy to introduce you to something I absolutely love!

Precious metals.

I just talked about precious metals this week with Bo Polny and now I’m bringing you a solution that you can utilize right away if you’re so inclined…

A faith-driven, conservative precious metals company is currently helping Americans tap into the rising precious metals market through self-directed IRAs backed by physical precious metals. And while this service is not unique to Genesis, their adherence to Biblical stewardship of money makes them singularly qualified to receive a sponsored recommendation from this site.

Unlike most companies offering similar services, Genesis deals only with physical precious metals. They do not offer “virtual” or “paper” gold or silver.

With Genesis and their depositories, customers can see and touch the precious metals that back their retirement accounts. When it comes time to take distributions, Genesis customers can cash in some or all of their precious metals or have them delivered to their door.

Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.

Working with Genesis is the best way our readers can explore the physical precious metals market through self-directed IRAs. It benefits us as well when our readers work with this America-First company.

Visit genesiswlt.com or call 866-292-0443 today.

Don’t wait too long, we might have more bank failures right around the corner.

You know what has NEVER “failed”?

Gold.  Precious metals.  Indestructible.

There’s a reason they call it “God’s money”.

Watch this for more:

Wow….


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