Mannarino chides Federal Reserve for DOWNPLAYING financial collapse as “mild recession”

(Natural News)
Capital markets trader Gregory Mannarino has chided the Federal Reserve for downplaying the full extent of the financial collapse as merely a “mild recession.”

“A mild recession? Meanwhile, we just got news … that the economy is actually slowing down faster than they believed it would; with employment growth slowing faster than they thought it would really do,” he said.

Mannarino referenced the April 2023 edition of the Fed’s Beige Book, which contained the “mild recession” remarks. The report, which is published eight times a year, has anecdotal information on current economic conditions. He also cited the minutes of the Fed’s March meeting, where economists for the U.S. central bank forecast a “mild recession” due to the effects of several banks failing.

“We’re absolutely getting another rate hike. This is what they sold to the people of the world. A miracle was going to happen eventually, sometime in the future and inflation was going to come down. But it has not done that at all,” Mannarino said.

“They want you to believe that price pressure or rising prices are slowing. But no, they are not slowing as we just found that over in the U.K., inflation [is] still surging out of control,” he continued. According to the trader, prices of energy and food continue to soar despite the drop in crude oil prices.

Mannarino stressed that central banks could not fool the people anymore, and that the public is now aware that everything has been done by design.

“They’ve weaponized the entire system,” he lamented, adding how central banks are collectively “killing the economy, crushing the consumer and limiting the availability of credit to small businesses – which are being completely razed in favor of the corporate agenda.”

Capital injections actually BAILOUTS in disguise

According to Mannarino, the collapse of the banking system would prompt massive “capital injections” from big institutions. For him, however, these are bailouts – just with a different name.

It can be recalled that Treasury Secretary Janet Yellen told senators in March that she and President Joe Biden choose the institutions that get “capital injections.” In her case, only larger banks are given these infusions, leaving smaller banks to fend for themselves. (Related: YELLEN FIRE IN A CROWDED THEATER: Janet Yellen says only big banks of choice will be bailed out, not regional banks.)

“Do regional banks who currently have runs on them and people pulling their cash out to throw it into the large institutions? Now, apparently, what they’re telling us here is this seems to be slowing because the smaller institutions got wiped out in favor of the large institutions as they integrate the system,” the trader said.

“Mark my words here, the banks are getting a bailout with trillions of dollars in losses on their books. But you’re not allowed to know about it.”

Mannarino also decried the Fed propping up its former Chairman Ben Bernanke, who sat in the position from 2006 until 2014. Bernanke oversaw the Fed’s response to the 2008 global financial crisis and subsequent recession.

However, his unconventional monetary policy made him rather unpopular. Bernanke was criticized in some quarters for failing to foresee the 2008 crisis and failing to tackle the problems building in property markets and for then deploying vast sums of public money to rescue some Wall Street companies from the consequences of their bets on subprime mortgages.

“We don’t trust him at all. Honestly, he was responsible for bringing down the entire global financial system the last time, but now he’s being paraded out as some authority figure,” Mannarino said.

Watch Gregory Mannarino criticize the Fed for downplaying the economic collapse below.

This video is from the High Hopes channel on Brighteon.com.

More related stories:

Health Ranger Report: Gregory Mannarino dubs central banks the PUPPET MASTERS controlling the entire financial system.

Small and regional banks are being left to fend for themselves while big banks like Silicon Valley Bank are being bailed out.

Economist: Silicon Valley Bank collapse just the “tip of the iceberg” under Biden admin’s reckless economic policies.

Sources include:

Brighteon.com

FederalReserve.gov

Edition.CNN.com

Economicriot.com

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