From Eddie our Luongo Watcher with comments

“SO MUCH GOOD HIGH GRADE INFO HERE – BEST YET”

This is a very interesting perspective on this LIBOR/SOFR issue, AnonX. I would say that LIBOR was always the way for the old European powers to keep the colonies under their ultimate leash while they pursued their wars for profit. Both WWI and WWII can be thought of as wars they fomented while they hid their money in the US away from the conflict.

Then when the war was over, WWII, they left in place a typical British poison pill which eroded any power the US gained from being the only one left standing to rebuild their power base via the Marshall Plan while undermining the Fed’s growing dominance. SOFR – READ TO UNDERSTAND

THE COMMENT SECTION IS VERY GOOD
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To me, this part is actually true. The Fed is fighting the O’Biden administration (and Davos), working to secure the worst mid-term blowout loss for the Democrats since Newt Gringrich became a household name in 1994.

It’s not a hard sell here. Because people aren’t nearly as dumb as our media treats them. They understand cause and effect. Biden entered office with gas around $1.85 a gallon. Now it’s back down to $4.00 after going to $5.00. The political messaging of blaming the Fed for the recession simply isn’t going to work. It’s the fever dream of people who have been sniffing their own farts inside of the Beltway echo chamber for too long. Americans are angry. They know they have been and continue to be lied to. What they want more than anything else is for someone, ANYONE, to tell them the truth. If Davos is still backing the Democrats rather than shifting behind the GOP establishment then they are in worse shape than even I think they are. Because this time, unlike in 2018, Powell has the tools in place — SOFR, mainly — to make these rate hikes stick by decoupling US bank stress from that of Europe. —– BLAMEING THE FED – This strategy will have just as much success as Democrats trying to blame the Fed for the inflationary depression they unleashed with their trillions in COVID spending and aggressive hounding of the oil producers while people struggle to put food on the table or afford the gas to get to work. — The Democrats are happy to burn the country to the ground, since they are now officially traitors to the country after 18 months of pure, unadulterated economic and cultural vandalism. They keep telling us it’s all for the greater good — https://tomluongo.me/2022/07/25/none-dare-call-it-a-recession-lest-the-democrats-lose-the-mid-terms/

https://tomluongo.me/2022/04/07/sofr-v-libor-missing-something-fed-policy-error/