Look at our Financial System thats in fact what youre getting with the fed reserve and q. E. Policy is theyre charging you with the vomit fraud of the bankers that theyre the ones that issue debt that is unpayable and then dump it on to you and theyre sending you a photo of their Balance Sheet essentially saying look you did this youre the one that did this and youre like hey i was just like going out for some groceries and now its 20 percent more expensive because of what because of this fed vomit fraud right theres plenty of vomit fraud in the United States economy and its perpetrated by the Federal Reserve bank and youre right in that we are being charged for the vomit front so when they make a bad policy decision by like for infinity and this causes huge mal investment in the economy and lets say the the bailout. Insolvent banks right and the savior of Warren Buffett and Berkshire Hathaway even though they were technically insolvent back in 2008 that is the vomit fraud that we have
What an interesting market. It is not a normal july, and simply, it is not a normal friday. Gold almost touching 1900, better markets in the last minutes off the better than good pmi data in europe. Francine we had betterthanexpected pmi in europe, but also the u. K. It is not moving markets that much, but it is something to keep an eye on. Lets get to first word news with karina mitchell. China has dropped back, ordering the u. S. To close its consulate in chengdu because of the u. S. Decision to close the chinese consulate in houston. China serves as a key u. S. Listening post. China says its action is a legitimate one and necessary. President trump has given into worries about the coronavirus. He canceled his florida nominating convention. That was going to be the biggest event of his reelection campaign. Florida just posted a Record Number of deaths from the pandemic. The president says he did not want to take any chances. There are still differences between Senate Republicans and
Francine second wave fears. Beijing cancels flights and orders schools to close as coronavirus cases in the Chinese Capital rise. Florida and brazil report record new infections. Jay powell says the fed will use all tools to support the economy and defends its foray into Corporate Bonds. Robert kaplan tells Bloomberg Health care policies are key to the recovery. And geopolitical risks add to headwinds for investors. Seoul says north korea must bear all consequences of its actions. Indias defense stocks gain on rising tensions with china after a deadly clash in the himalayas. Good morning, everyone. This is bloomberg surveillance. Im francine lacqua, here in london. Tom keene in new york. A lot of the focus is on stocks. We are seeing european stocks adding to the rally. They seem to be shorting off concerns to the infection rates. The focus today once again is on government and monetary stimulus. The dollar is slipping. We are looking at a couple of data we are looking for we had the s
Still not many people. We will be tracking this story throughout our three hours. Nearly half a Million People will be returning to work in the city. And they are returning to work, by the way, to a city whose mayor is pushing to defund the Police Department in the wake of the george floyd protests. A lot of pushback on this, as you can imagine. We will get into it. Including from the president. He tweeted this just moments ago. Law and order, not defund and abolish the police. The radical left democrats have gone crazy. And Hillary Clinton, by the way, well, shes had another deplorables moment when speaking about trump reporters and we will have that for you as well. Im Ashley Webster. The big story for dyou today on monday, the markets pointing upwards. Varney Company Begins right now. This will go down in history as the biggest positive data shock for the markets and the economy. Its some combination of an incredibly resilient economy thats bouncing back, the impact of government me
Confusion as to what the boe is doing. Are they dovish or hawkish . Cannot tell. Guy, we will be speaking to the iea executive director and also at Columbia University visiting professor and former citi chief economist. Guy also formally of the bank of england. We will just what exactly we have been learning from the bank of england. A lot to digest and hard to fathom. Hour we last half an have seen news from the press briefing. A teleconference briefing with reporters after the policy decision. He did not discuss negative rates, and did not discuss neil yield control. But there will be some degree of flexibility with the pace of qe, which looks like it is going to slow down. Economist joins us to give us his take. What we got from the bank today seems to be slightly hawkish inasmuch as the chief economist is dissenting, saying that he feels the economy is picking up faster than anticipated, and he did not see the need for extra qe, in the rate of qe will be blowing down. Am i right to