Let's move on briefly to the king of the fiat clown show, let's talk about Fed Chair Jerome Powell, who gave his speech today to close the conference in Jackson Hole.

The king of kings has subtly indicated a potential shift in the Fed's monetary policy during his speech at Jackson Hole. With the latest U.S. job market data showing signs of weakness and inflation rates continuing to decline, the Fed appears poised to lower interest rates once again. Powell emphasized that the timing and pace of these rate cuts will be heavily influenced by incoming data and the broader economic outlook.

In the weeks before Jackson Hole, interest rates in the bond and mortgage markets had already significantly declined, signaling that central banks had been intervening long before this narrative was presented. This preemptive action by the Federal Reserve highlights its role as the primary driver behind the boom-and-bust cycles that repeatedly push individuals into debt and, ultimately, into bankruptcy. Central bank policies and the entire fiat currency system represent a degradation of true economic principles.

Despite the Fed's caution, Powell made it clear that the central bank is committed to supporting a robust labor market as it continues its pursuit of price stability. He expressed confidence that inflation is on a sustainable path back to the Fed’s 2% target, but also stressed that the Fed does not intend to push for further cooling in the labor market. Instead, the focus will be on maintaining a balance, ensuring that the policy rate remains flexible enough to respond to any unforeseen risks.