As the saying goes, power corrupts and absolute power, corrupts absolutely. Concentrated and centralized power amongst the few is the antithesis of the United States of America. Nevertheless, we have before us a handful of powerful men and women on the global stage that have the power to move trillions of dollars worth of financial assets and markets with just a simple word or phrase. If this isn’t absolute power, then The Kapital News doesn’t know what is. Yet again today, we witness John Williams, President of the Federal Reserve Bank of New York, give a speech and make remarks during a Q&A session whereby he “hinted” that the Federal Reserve should slash interest rates. Saying it’s better to be preventive than to wait for the crisis to happen. Wait?! Aren’t we told by the President on a near daily basis that this is the greatest economy is US history – so why throw around the word crisis or problem or recession or even slow-down? The addicts on Wall Street took this as positive news as the junkies are set to get their next fix after crying about it – even though stocks are at all-time highs? Is this making any sense to anyone? Yet, only a few hours later a spokesperson from the Federal Reserve came out and said, the statements from Mr. Williams does NOT represent what the FOMC will be doing at the end of this month – referring to the Fed’s meeting on July 30-31 to decide interest rate policy. These members of the Fed are poor economists and they’re even worse at communicating. And by all indications, they want to continue pumping the patient (i.e. the economy) with more of the disease – lower interest rates and QE. Toto – I don’t think we’re in Kansas anymore. Buckle up! We’re Fed Up! #EndTheFed #WakeUpAmerica