Ripped From The Headlines - A Tribute To The Legendary Paul Harvey
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"The arrest of CEO Sam Bankman-Fried may be the smaller news story coming out of the collapse of FTX. Politicians will miss the point surrounding the massive political donations of the company and instead push for simplistic solutions to a complex issue.
Ultimately, the collapse of the crypto company could lead to onerous federal regulations and the establishment of a federal “digital dollar.”
The FTX issue isn’t large enough, under normal circumstances, to push through such dramatic banking and financial changes, but it is clear that those at the Federal Reserve and many in Congress have been salivating for such changes for years. This could be a fig leaf to justify it."
"New analysis highlights just how unusual the surge in trading of US Treasuries was last month, just a minute before the release of closely watched inflation data.
The trading volume for 10-year Treasury note futures during the 60 seconds before the Dec. 13 release of November’s consumer price index was more than three times greater than in any minute immediately preceding the release of the prior 24 CPI reports, according to David Wilcox, director of US economic research at Bloomberg Economics. That’s a stretch that goes back to late 2020.
Price movements in those contracts were similarly extreme, more than three times as great as they had been in the corresponding 60 seconds before the last 24 reports.
The movements were 'extremely unusual,' Wilcox said in summing up his report. The findings 'do not prove that illicit trading occurred' on Dec. 13, 'but they substantiate calls for regulators to take a close look at what happened that day,' he said."
"This exchange in yesterday’s White House press briefing illuminates what is widely known in Washington, but rarely mentioned: Among the Biden team, there is no broad, principled stance that the details of discussions with congressional leaders behind closed doors shouldn’t be leaked.
The real rule is that details of discussions with congressional leaders behind closed doors that could make the administration look bad shouldn’t be leaked:
Q: One quick follow-up on Phil, and then another. Did the President, over the holidays, reach out directly to Senator McConnell to invite him to the event tomorrow as a show of the bipartisanship that you guys say?
MS. JEAN-PIERRE: So, as you know, we do not talk about or lay out private conversations with congressional — congressional leadership. What you —
Q: Sometimes you do.
MS. JEAN-PIERRE: Well, sometimes we do. But —
Q: When it’s in your interests, you do. (Laughter.)
MS. JEAN-PIERRE: Well, you know —
Q: Sorry, I —
MS. JEAN-PIERRE: All right, you may have caught me there a little bit. (Laughter.)"
Here’s what the WHITE HOUSE had to say at the time:
“Karine Jean-Pierre, the press secretary for President Joe Biden, quickly brushed off the question when it came in toward the end of her daily press conference Tuesday. No, she said, there was no chance that anyone in the White House leaked the November inflation report before its 8:30 a.m. publication. Too much fuss was being made, as she saw it, over what were just ‘minor market movements.’
Well, the investigation says otherwise. Something else to ponder - here’s what the movement looked like:
Just move along, nothing to see here.
“That Lie Looks AWEFULLY Good On You…”
The Biden Administration wears it well, don’t they?
So, you have the press secretary basically saying nothing is off limits to be leaked…
But a month ago said it was impossible the key economic data was leaked?
Our commentary on the situation from last month sums it up:
The Biden WHITE HOUSE seems to be the gift that keeps on giving…
In addition to a mass inability to complete full sentences, it looks like someone is leaking like a sick pig’s backside, and people got their hands on key info a bit early:
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