What's the point of this strategy?
To turn the MAGA crowd against Ron. Use their anxiety against them and turn Ron into their scapegoat.
If you fell for this, I'm sorry for you. I get it. But it's dumb. /4
Is Ron perfect? No. Is he taking money from bad people? Apparently so.
But it's April folks, where's Ron's ground game in IA, SC, NH? Where's the 'exploratory committee'?
Where's the Ron DeSantis for President Beef, FFS?
I don't see it. /5
What I see is a new coordinated campaign to make Ron into the Devil by the very same people who tried to do so during COVID. Remember every Monday used to be a new #DeSantisIsEvil campaign.
And you are all falling for it... again. /6
Now, what if Ron v. Don was a rope-a-dope? What if Ron makes it look like he's disloyal to Trump and Trump, who never lacks for impulse control, goes along with it?
Would this not be the biggest con of all time?
/7
By indicting Trump you make him into a martyr. By turning the MAGA folk against DeSantis you try and clear the field for the @GOP wasteland of Romn-bots and McCainiacras.... Hello Nimrata? FFS.
/8
But what if the clock has really run out on Ron as a 2024 candidate? It is April. He's not a thing outside of Florida. His national polls suck.
So, if that's the case why would Ron even run?
What if Ron's disloyalty to Don was purposeful to clear the field for Don /9
This leaves @georgesoros and @manhattanDA no other option but to invent a Kafkaesque crime which even the Federal courts wouldn't touch.
And, btw, who owns the SDNY courts?
Who told Laetitia James to stand down?
Wall St.
This indictment puts Bragg out on an island. /10
He now has zero friends and if the @WEF games things to convict Trump of what should be a misdemeanor it only makes him stronger.
If you wanted to turn Trump into the ultimate martyr for Free Speech, please Alvin put out that Gag Order. /11
Trump's biggest fault is his big mouth. It makes people in the middle squishy on voting for him whenever he opens his mouth. Shutting him up is actually a good thing.
/12
Back to Ron v. Don. Going down this line of thinking the indictment indicates that they don't own Ron anymore than they own Don.
If anyone owns these two guys it's the NY Boys, not the Brussels Mafia. That's far more believable than this entire Ron as @WEF stooge... /13
What are NY and the Fed trying to accomplish?
Survive into the next decade. Recapitalize and reindustrialize the US w/ Wall St. providing the lending.
Who represents that thinking more than any other potential Presidential candidate? Donald Trump. /14
The indictment by @manhattanDA may be the biggest political mistake in history. If he just toyed with it, there's no poop on his shoes. But, he stepped in it and now they can go after him.
Quick thread on the strategic importance of Credit Suisse and why the Fed's support of it is so important.
Famously, the SNB holds a big equity portfolio, at last count ~$139B. These are mostly US large caps. /1 whalewisdom.com/filer/swiss-na…
Last Summer I took heat from the skeptical on Fintwit for my 'thesis' of a war between Davos and the Fed because the Fed sent billions in a lifeline to the SNB who helped out $CS. /2
This happened at the same time as Blackrock's assault on the Bank of England, bringing down PM Liz Truss, installing Davos boy Rishi Sunak.
At the time I noted the two banking jurisdictions in Europe not under ECB control were assaulted simultaneously. No coincidences /3
In 2008/09 all the FCID bank closures happened after the market closed on Fridays to limit the damage. Today we are treated to a vandalistic "Biden" regime making a big deal out of this DURING trading hours. /2
From a purely political and qualitative standpoint I'd say a number of things are at play here.
For a major SV bank to fail this spectacularly in 24 hours, 72 after the FOMC Chair went full "Resting Hawk Face" smells of a setup to force a "pivot" this weekend./3
More meltdown in the Eurodollar markets this morning on US inflation data.
These markets and the long-end of the US yield curve are hideously mispriced 1/
@SecYellen is selling 2/3's and buying 10/20's
Why? To make the 2/10 spread worse than it should be but also to help @ECB protect US/German credit spreads.
Really?
Who do you think she really works for?
The Fed could provide the market 10's if Yellen would back off.
/2
This is to support the fiction that the US is headed for a 'historic default' if we don't raise the debt ceiling.
We'll raise the debt ceiling. This is just more Treasury Dept. blackmail of the Fed. Yellen is flying into coffin corner here. /3
Does anyone seriously think markets won't react in real time to the Fed going to 8% and continue holding their breath sending the 2yr to 8.5 percent but the 10yr will stay at 3?
back in November I did a podcast with Pascal Najadi who told the story of Frm. Chancellor Gerhard Schroeder visiting Scholz's office with an offer for gas to Gazprom, which was summarily rejected. /2
The big on is that there is nothing telling the Fed to slow down here in any meaningful way.
Most of the pullback in inflation and consumer spending is just baseline effects.
The banks have collateral, loan growth is fine and labor market strong. go another 50 Jay-Pow. /2
Powell is dealing with the hangover from Brainard/Obama's attempt to get rid of him in 2021.
That's why the markets are so stubborn.
It's moronic. Powell's entrenched. They didn't believe him last year either. /3