Biomass guys are welcome other guys report who can forget the 1960s classic paranoid dystopian comedy dr strangelove. Well at the time it seemed far fetched now stacey max when i look at dr strangelove and i look at the cold war and i look at the crazy things that happened in the fiftys and sixtys and seventys with all the sort of programs like we mentioned m. K. Ultra but also there really insane sort of Nuclear Technology that was being developed. It to me looks like what our Central Banks are doing with our Financial System our Monetary System around the world it is dr strangelove ask if you look at this tweet a man jumps with a portable nuclear bomb called n s a d m and the 1960 s. This is the green beret with the special atomic demolition munition between his legs exactly the closing scene of dr strangelove feature pickens riding in atomic bomb down to create. Do you. Remember that and then they had this kind of symphony of a Mushroom Clouds with the closing credits over some brig
Taken by the Federal Reserve the path depends of course on the virus it societies the crisis will weigh heavily in the medium term and poses keshl risk, very much a carbon copy, just a couple additions here and from the year, there was one other change that i will tell you about. It was that the path of the economy will depend significantly on the course of the virus. Kelly . We appreciate it. Were going to welcome in our fed panel. Mona hodges, david kelly and jim carron its great to have you all here. Ill go to you, dave, for what you think are the most important messages as we watch the markets so far showing little change from where we saw before the decision came out. Really whats happened since their june meeting is we have seen a surprisingly strong bounce, but then the viruses come back, and that resurgence is what theyre saying is this is not over we know its very uncertainty. The economy has a lot of recovery to do yet, and theyre going to remain very dovish while the pandemi
Last 400 days is we are finally on dollar support. We will talk about this through the show. On dxy, the blended dollar index , with strong euro contribution, we are really on the support of a signal to a weaker dollar. Jonathan it is the trait everyone would hope would develop it is the trade everyone was hoping would develop. We see that on the screen this morning. It is a tugofwar between pretty negative corporate guidance and the vaccine hopes that started yesterday evening. Lisa i would argue that the vaccine hopes are very much in the front of peoples mind this morning. The question of whether moderna can jack up production, as well as the Regulatory Approval they need to get this out and distributed. Meanwhile, more guidance from the big banks. Goldman reporting in about a half hours time. At 2 00 p. M. , the fed releases their july beige book. Some indication of how businesses are changing their expectations based on the resurgence in virus cases. Also today, opecplus meeting t
Noise. Members are responsible for on muting themselves when they wish to seek recognition. Somebody is not muted right now. Can you check to see if you are muted . Required tobers are leave their cameras on the entire time they are in official proceedings, even if they step away from the camera. Hearing, theremote Committee Chair is officially closed. Members who sit with their devices in the room must wear headphones to avoid feedback, echoes, and distortion resulting from more than one person on the platform sitting in the same room. Use are also expected to social distancing guidelines including the use of masks, gloves, and wiping down the area in the hearing room. Questions, if the witness is also in the hearing room, it would help if you mute while the answer is taking place , because the answer is picked up by your mike and that echoes back and there is usually distortion. The rollcall is not necessary to establish a quorum in official proceedings conducted remotely. When there
Commerzbank. There it is, new york city, the private equity firm really going after commerzbank. They throw out the chairman, the ceo, and you have to wonder how t adjusts the plan from adjusts the plan. The body count of three major european banks it is a stunning 61,000 redundancies just over the last number of months. Costcutting has got to be front and center for mr. Sewing. Francine he mentioned that a little bit. We also had a conversation on wirecard, saying there is something that they need to look at even more. Lets get to first word news with your take a group that. Reportedeijing has zero new coronavirus cases for the first time in 26 days, a sign that a resurgence that the second wave in china is now under control. Instead of an across the board lockdown, beijing tested more than 11 million people. Anthony fauci says any Coronavirus Vaccine would be limited in how it would provide protection. He told a Video Conference that Health Officials assume a shot would offer a degre