Clerk we have a quorum. I will read the Covid19 Health Emergency and given the public health recommendations issued by the San Francisco department of public health, the governor and the mayor have listed these restrictions on teleconference. This meeting is being held virtually with all members of staff and public participating via teleconference [indiscernible] while this technology allows us to hold these meetings via teleconference, this is not as [indiscernible] as we would like to be. A reminder to the Board And Staff to mute themselves when not providing comment to minimize background noise. Chair thank you very much. Item 2. Clerk item 2, communications. Due to the covid19 emergency, the San Francisco Retirement System is closed. Members will be participating in the meeting remotely. ThiS Precaution is taken pursuant to the various local and state orders. Members will attend this meeting through Video Conference and participate in the meeting to the same extent as if they were
Will be in a hot season one hours time to take you through the Mornings Level News headline. The i am at kaiser this is the Kaiser Report. No, youre not imagining it. The Purchasing Power of your money is going down now. Oh, bu who . Stacy . Oh, sorry. Im just having my cup of Joe Biden. This morning. You say this you know what . The couple Joe Biden is about the coffee prices were seeing, and those are sky rocketing things could get harry right here on the set of cars report. If we dont get the coffee, while the price of a cup of coffee keeps rising and nobody seems to care, remember this is something weve been talking about over the past few months as inflation starts to war. But peoples balances and their bank accounts are at all time highs in the Household Sector in america. So the Inflation Mindset set in long ago a few months ago as people were getting used to these enhanced unemployment benefits. The non stop stimulus checks arriving in their bank account. And now those Child Cr
A terrorist threat and afghan stone, which can spill across the board as it does threaten security of neighboring countries in central asia, will continue to get inside from the ground. And ive got a saw that analysis from experts across the world, all the situation as it develops. They with us here on our team. The hi am i kaiser . This is the Kaiser Report . No, youre not imagining it. The Purchasing Power of your money is going down now. Oh, bu who . Stacy . Oh, sorry, im just having my cup of Joe Biden. This morning. You say this, you know what the cup of Joe Biden is about, the coffee prices were seeing, and those are sky rocketing things could get harry right here on the set of cars report if we dont get the coffee, while the price of a cup of coffee keeps rising and nobody seems to care. Remember, this is something weve been talking about over the past few months as inflation starts to war. But peoples balances and their bank accounts are at all time highs in the Household Secto
When you make a good point there, the infrastructure bell, for example, in the us, its not about infrastructure. Its about printing more money to keep the Policies Game of Wall Street alive. And we know this because by recent studies, 90 percent of all the Money Print Thing for all these different programs never leaves. Wall street. Yeah. Right. So it just stays on Wall Street. Dont say heres an infrastructure bell, roads, tunnels, bridges, and they the 2000 page bell, they numerate all the things where this money is supposed to go. Then they pass the bell, then they authorize the money to be printed and then they sent it for distribution to Wall Street and Wall Street. Thats on it. Me see that very clearly in the money velocity chart, which is all was going toward 0, that never goes anywhere just its on Wall Street Balance Sheet and they use it to buy expensive property. And that happens. And thats been the story now for more than 20 years. We saw that for sure, with the Rent Moratori
A free cup of coffee. And this will be looping around now for a while, until such time as true, catastrophic resulting in sues, which would be either on the environmental front where were seeing the Bile Fear of the ability to support human life is collapsing. Or well see a Bond Collapse which will throw in immediate screeching halt to the global economy, or were going to have some kind of war world war. Well, everybody gets a cup of joe biden, in todays america, where nobody has to work. They work from home, right . And everybodys having the free money, their, their mindset about inflation. It has altered, its changed, theyre all ready and willing and able to spend. All things must pass. However, we forgot to mention, as weve been celebrating, or commemorating the 50th anniversary of the nixon shock. When president Richard Nixon took the United States off the Gold Standard, and august, 15th 1971 put into effect, august 16th, 1971. And what happened is it ended bretton woods, well, 50