01

The Global Central Bank Annual Meeting is about to commence, and Americans are unanimously focusing their attention on Powell's speech, with concerns that Federal Reserve Chairman Jerome Powell will once again shock the market.

Should Powell once more deliver hardline hawkish remarks, it would almost certainly confirm that the Fed's rate hikes are not yet over.

To date, the Fed has increased the then-zero interest rate to over 5%. However, even after a year and a half of rate hikes, inflation has not been well-controlled as the Fed had predicted.

The current Consumer Price Index (CPI) seems to have dropped significantly from last year's 9.1%. But this is merely a year-over-year figure, indicating only that the pace of price increases has slowed, not that prices have begun to stabilize or retreat.

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The decline in year-over-year data is primarily due to the high base from the previous year.

The almost non-existent drop in month-over-month data, which continues to grow, indicates that current prices are still rising. With the base growth from the second half of last year slowing down, it is quite possible that the year-over-year growth rate of CPI will accelerate again in the coming months.

Thus, even some American financial media are questioning the effectiveness of the Fed's continuous rate hikes.

02

Perhaps for Wall Street's financial capitalists, whether interest rate hikes can control inflation is not the most important thing; their main goal is to use rate hikes to create a great opportunity for global harvesting.But now it seems that the one being harvested is the United States itself.

In March and May of this year, two waves of serial bankruptcies of small and medium-sized banks in the United States have already occurred. For large banks like JPMorgan Chase, this may be a successful harvest.

Due to the bankruptcy of these banks, Wall Street banks such as JPMorgan Chase have successfully carried out mergers and acquisitions. Their assets and deposit levels have greatly increased, and their market share has naturally also greatly increased.

This is the harvest, shifting the crisis to others, and then depriving others of their wealth.

03

If we look at it from this perspective, there is an even more successful harvest, and the target is Americans.

A report jointly issued by the famous Swiss investment bank Credit Suisse and UBS shows that throughout 2022, the total reduction in private wealth of Americans is the highest in the world, reaching an astonishing $5.9 trillion.

This loss is equivalent to 1/5 of the total amount of $326 billion in U.S. debt, and is also equivalent to 1/4 of the U.S. GDP.

Of course, some people say that this was last year's event, and this year the U.S. stock market has shown a clear rebound, and American private wealth is growing.

For this view, we need to point out that this year's stock market rebound mainly benefits some large investment banks and hedge funds. Most ordinary people have suffered heavy losses in last year's violent fluctuations, and many have already transferred their funds to money market funds, and cannot profit from this year's rebound.Of course, now more and more retail investors are starting to transfer funds into the stock market. But this may be the beginning of a new round of risks.

After entering August, the United States' sovereign credit was downgraded by Fitch, followed by the credit ratings of several small and medium-sized banks being downgraded by Moody's.

Next, the U.S. Department of the Treasury's issuance of $103 billion in long-term Treasury bonds encountered a cold response, with the lowest subscription multiple being less than 2.5 times, which occurred despite continuously increasing the yield.

Then the latest news shows that another six countries have joined the BRICS organization. Although the United States has secretly obstructed and divided, the BRICS organization still expanded, and the current member countries have doubled to 11.

Since the current member countries include important oil-producing countries such as Russia, Saudi Arabia, the United Arab Emirates, and Iran, we can expect that the United States' worst fear is about to happen, that is, an increasing amount of oil trade will no longer use the U.S. dollar for settlement in the future.