Market Crashes as Memo Released Showing Crimes and Corruption in Obama’s FBI and DOJ – Maybe AG Sessions Should Do Something?!
The markets on January 26th reached another all-time high of 26,616. This was the 99th all-time high since President Trump was elected President. The markets increased by more than 45% in this time period. But then the FISA memo came on Friday and the markets are now down 2,270 and 12% since January’s high.
Some in the media are suggesting that Trump’s successful markets and economy are causing inflation concerns –
US stocks took a further steep plunge on Monday, with the Dow Jones industrial average dropping 1,175 points, the largest one-day points fall on record and erasing all the gains made so far this year. The drop came after another bad day on global markets as investors reacted to global equity losses overnight and concern that central banks will increase interest rates in response to inflationary pressures from surging global economies.
All the economic indicators are solid. Jobs are at all-time highs. Unemployment is at historical lows. The GDP is rising and many companies are reporting historical earnings and massive lump sum gains due to the Trump tax cuts, and the tax cuts have not even taken effect!
Other experts are suggesting that the Fed is sabotaging the markets by threatening to increase interest rates hastily. Peter Schiff, CEO of Euro Pacific Capital, told TheStreet –
Despite its independence, the Federal Reserve may quietly want a bear market that takes down a president that loves tweeting about the stock market.
Peter Schiff, CEO of Euro Pacific Capital, told TheStreet the “[Janet] Yellen put” in the markets could expire under President Trump. “I don’t know if the Fed has much love for Trump,” he said, adding that the Fed had the markets’ back during the Obama Administration.
“Maybe the Fed would be happy to see a bear market that could be blamed on Trump.” Schiff thinks the markets could easily correct 20%.”
It’s not unlikely that the Fed is trying to kill the Trump rally. This may even be true. Obama benefitted from the most generous Fed policy ever. During his time in office the Fed only raised rates one time before the 2016 election and that was a paltry quarter percent in 2015. Since President Trump was elected the Fed has increased rates four times for a total of a percent. If they continue to raise rates they surely will kill off the Trump rally as we reported last year–
The only Fed Funds Rate increases since 2015 were after President Trump was elected President. The Fed increased the Fed Funds Rate on December 14, 2016, on March 15th, 2017, on June 14, 2017 and again yesterday on December 13, 2017. Four times the Fed has increased rates on President Trump after doing so only once on President Obama.
The Fed’s actions may have everything to do with the market down turn. However, the one material item that has not been presented that explains the market down turn these past few days is that the market may be responding to the corruption in the government embedded during the prior Obama administration and outed in Friday’s FISA memo.
What the memo clearly describes is the corruption and criminal activities within Obama’s FBI and DOJ as related to the FISA warrant process. Numerous FBI and DOJ individuals were implicated. It is now more than clear that the Obama administration was corrupt and holdovers from that group did all they could to overthrow the Trump administration based on lies made to obtain warrants to spy on the Trump team illegally.
The fact that the Obama Administration is corrupt is not really news. This was known since the beginning of his time in office. (See Michelle Malkin’s Culture of Corruption) What is disturbing to the markets and the American people is that little is being done to protect America from the illegal activities that the Obama and Hillary team took to remain in power.
The current AG, Jeff Sessions, appears to be neutered when it comes to the Obama corruption. He recused himself from anything Russia which he now apparently justifies for not doing anything to bring the Obama and Clinton players to justice. In Friday’s memo, the AG’s assistant AG, Rod Rosenstein, is identified as one of four former government employees who signed off on bogus applications to the FISA court. In spite of lying to the court, Rosenstein still holds his job. Numerous other Obama players at the FBI and DOJ, many also involved in the Mueller Russia investigation which is now acknowledged as a farce, are not being held accountable.
The markets may be down due to the clear double standard of law taking place in Sessions’ AG office. They may also be down mainly due to concerns with the Fed, but the AG’s lack of action cannot help.