Ripped From The Headlines, April 13, 2023
Feds See Recession Coming, Gold Price Spikes, JP Morgan Didn't Stop Epstein When They Could Have - Read, Share, & Subscribe - SherlocExposes.com
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“Federal Reserve economists believe that recent banking turmoil will trigger a mild recession later this year, a potentially ominous sign for President Joe Biden as he heads into an election campaign.
Staff members at the central bank, who brief policymakers before interest rate decisions, had long expected GDP growth to slow this year in the wake of the Fed’s fight against inflation. But last month they upped the odds of a downturn, according to the minutes of the Fed’s March 21-22 meeting.
Just a couple of weeks before the meeting, two regional lenders — Silicon Valley Bank and Signature Bank — collapsed after depositors pulled out billions of dollars in cash, sending tremors throughout the industry.
Their projection was for ‘a mild recession starting later this year, with a recovery over the subsequent two years,’ according to the minutes, released Wednesday. That would spark a jump in unemployment. They estimated the economy would fully recover by 2025.
“Gold prices hit their highest level of the year on Thursday, driven by bets that inflation will remain sticky despite recent declines.
The most actively traded gold-futures contract rose to $2,055.30 a troy ounce, up about 12% year to date. That also put it within striking distance of its record high, reached in the summer of 2020.
Some investors value gold as a hedge against inflation, expecting the precious metal to hold up in value if other assets fall. Its rally this week, however, comes after two closely watched data prints showed that inflation is slowing.
The rising gold price shows investors are wagering that the Federal Reserve will pull back from its rate-hiking campaign even with inflation readings well above the central bank’s 2% target. That in turn is born from concerns that the economy might be weaker than it seems. Though the labor market remains strong, last month’s banking crisis jolted worries that the economy remains vulnerable to even short-term headwinds.
A reversal by the Fed could result in higher inflation becoming embedded in the economy in coming years, analysts say, creating an environment that favors higher gold prices.
Brian Jacobsen, senior investment strategist at Allspring Global Investments, said gold prices have been lifted by an unusual combination of expectations on falling economic growth and rising inflation.
‘The cold hand of reality slapped a lot of people in the face that we’re not going to get to target inflation this year or next,” Mr. Jacobsen said. ‘And it is unfortunate that it’s at the same time that growth expectations are also falling.’”
“Employees of JPMorgan Chase internally flagged large cash withdrawals made by Jeffrey Epstein two years before he was convicted of soliciting a minor for prostitution, according to court papers filed Wednesday.
In 2006, the bank's risk management team noted that Epstein "routinely" took out cash in $40,000 to $80,000 increments, several times a month, the Wall Street Journal reports, citing a filing by the US Virgin Islands in an amended lawsuit against the bank.
The sex-trafficking pedophile was pulling out more than $750,000 per year in cash, according to the lawsuit.
Epstein was first charged with a sex crime in 2006. He pleaded guilty to solicitation of prostitution with a minor in 2008 and spent about 13 months in prison. JPMorgan continued providing services to Epstein until 2013 when it says it closed his accounts. Epstein died in jail of an apparent suicide in 2019 while awaiting trial on federal sex-trafficking charges.
The U.S. Virgin Islands sued JPMorgan late last year in a Manhattan federal court, saying the bank facilitated Epstein’s alleged sex trafficking. The suit alleges the financier used the bank to pay his victims with cash and wire transfers, transactions that should have been concerning to the bank. Another lawsuit filed by an unnamed woman who accused Epstein of sexual abuse also accuses the bank of failing to monitor his transactions. The cases are running together in Manhattan federal court. -WSJ
According to the lawsuit, JPMorgan could have alerted law enforcement to Epstein's large withdrawals via suspicious activity reports (SARs), typically filed when a client makes sizeable cash withdrawals or transactions that could indicate crimes such as money laundering.
JPMorgan head of asset and wealth management, Mary Erdoes, said in a deposition that JPMorgan execs knew as early as 2006 that Epstein was accused of paying cash to have underage girls and young women brought to his house, the filing continues, adding that Epstein's behavior was so well known that bank employees joked about his interest in young girls.
“Know Your Foe” Thursday, Ripped From The Headlines. Things to ponder:
“Don’t Worry… It’s ONLY A Recession!”
That’s the US Government talking with that statement…
See what they did there? They instantly made it sound less bad…
You know how this works: “Hey, your life sucks and you have no freedom, but at least you aren’t that guy over there…”
The problem is we’re already in a recession and headed for something much, much worse…
What’s equally bad is that the government organizations that are supposed to be in charge have ABSOLUTELY NO CLUE what they’re doing.
Don’t believe us? Here’s the Secretary of the Treasury, Janet Yellen, showing you that very thing:
Really Janet? REALLY?
And this is the foolishness of government agencies all over the place.
And completely unable to tell the people who they work for (that’s you) what’s actually happening.
Know. Your. Foe.
“There’s Gold In Them There Hills!”
And it has taken center stage in economic discussions from the board room to the kitchen table…
As the economy continues to implode, things that hold value will be mostly tangible and practical - gold, silver, etc...
We strongly encourage you to watch these videos:
So you really understand what’s happening, and what you need to be looking at.
Your future depends on it.
“Not To Worry! I just need that $40k in cash!!”
Ladies and gentlemen, Jeffery Epstein… with an assist from JP Morgan.
Here’s a quick breakdown of what was happening:
He would ask for large amounts of money, in cash, from the banks…
Spending it on underage girls…
And got away with it, with his own bank saying: “Epstein's behavior was so well known that bank employees joked about his interest in young girls.”
AND, the banks could have stopped him at any time. In the United States, banks fill out forms, via suspicious activity reports (SARs), typically filed when a client makes sizeable cash withdrawals or transactions that could indicate crimes such as money laundering.
Instead, JP Morgan didn’t want to “upset the applecart, so they didn’t do anything…
And more underage girls suffered… even though the bank knew this:
“Epstein's behavior was so well known that bank employees joked about his interest in young girls.”
Where are you keeping your money these days?
What Does This Mean?
The Government has no backup plan… for you.
If you don’t take the time to prepare, the help you’re expecting likely won’t be there or will be offered in a manner you don’t agree with.
Outside of those you know who prepared and prepared for charity (that would be you in this case), it’s going to be slim pickings.
Factoring in a lack of power would likely mean a lack of water and sewage services, and things could get pretty bad. Getting the picture…?
Why Should I Care?
Today, we’ll point you to two books from SurvivalBlog.com Publisher, James Wesley, Rawles so that you can see why:
How To Survive The End of The World As We Know It, which you can read for free by clicking here.
Once done, order The Ultimate Prepper's Survival Guide, by clicking here.
Once you read the first one, you should be in a rush to get the second one.
They will MAKE YOU CARE.
What Should I Do?
Take a moment… right now if you can… to take inventory of what you’re seeing in this newsletter each day.
Have you ever seen a time quite like this? No, you say?
Ok good, you’re paying attention.
That’s the point.
If you’re not paying attention and trapped in the hustle and bustle of a busy world (with a ton of useless stuff, by the way), this stuff will come up on you like a thief in the night.
Take stock of one thing, right now, that you need to shore up… is it food? Medical supplies? Water?
Focus on taking care of that as best you can by the end of this week.
Then, take care of the next thing.
GET MOVING ASAP.
Also, please share what you get from this newsletter.
It’s OK if you don’t understand it all.
Tell them to ask us.
Your future, and theirs, depend on it.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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