I do not expect White House Spokesperson Jennifer Psaki to understand how her bosses policies are driving massive price increases; nor do I expect Psaki to understand economics and inflationary impacts. However, the scale of her false statements surrounding inflation are not just false, they are now dangerous.
Following the release of the consumer price index [SEE table 2], in her press briefing today, Jen Psaki outlined the White House perspective on inflation, and specifically the Fed claims surrounding “transitory inflation.”
In her statements today, Psaki referenced people comparing the prices of 2021 consumable goods to 2020 and 2019. [Video prompted below] Within the statements, the scale of falsity is off the charts. WATCH [Video at 19:00 to 22:42, prompted]
There is not one single thing about that three minute verbal exchange that is accurate. Fast turn consumable goods, groceries etc., did not drop in 2020 during the first year of the pandemic. Factually, all goods but especially consumable goods increased in price throughout the pandemic, because demand actually increased and the supply chains were unable to keep up.
Example. A loaf of bread at $2.50 in 2019, climbed to $3.00 in 2020. That price jumped again to $3.75 this year (2021) and will likely continue rising as monetary policy driven inflation continues devaluing our currency.
Even if, as Psaki claims, inflation slows down (not likely) – “decelerating inflation” does not mean declining prices; it means a slower rate of price increase. Stuff still costs more, it just costs more at a slower rate. Consumable goods will cost more in 2022 than they do this year. The 2022 loaf of bread likely to climb to $4.00; it will never return to the 2019 price of $2.50 because the dollar is worth less.
♦ Ask the White House: Why did Joe Biden increase food assistance benefits by 25% if inflation was transitory?
[The Consumer Price Index was released today. The producer price index for Sept will be released tomorrow]
This massive inflation is a direct result of the multinational agenda of the Biden administration in combination with the spending spree. Inflation is a feature not a flaw, and it has nothing whatsoever to do with COVID. The first group to admit what was obvious were banks, specifically Bank of America, because the monetary policy is the primary cause.
You might remember, when President Trump initiated tariffs against China (steel, aluminum and more), Southeast Asia (product specific), Europe (steel, aluminum and direct products), Canada (steel, aluminum, lumber and dairy specifics), the financial pundits screamed at the top of their lungs that consumer prices were going to skyrocket. They didn’t. CTH knew they wouldn’t because essentially those trading partners responded in the exact same way the U.S. did decades ago when the import/export dynamic was reversed.
Trump’s massive, and in some instances targeted, import tariffs against China, SE Asia, Canada and the EU not only did not increase prices, the prices of the goods in the U.S. actually dropped. Trump’s policies led the largest deflation in consumer prices in decades. At the same time, Trump’s domestic economic policies drove employment and wages higher than any time in the past forty years.
With Donald Trump’s policies, we were in an era where job growth was strong, wages were rising and consumer prices were falling. The net result was more disposable income for the middle class, more demand for stuff, and ultimately that’s why the U.S. economy was so strong.
♦Going Deep – To retain their position, China and the EU responded to U.S. tariffs by devaluing their currency as an offset to higher prices. It started with China, because their economy is so dependent on exports to the U.S.
China first started subsidizing the targeted sectors hit by tariffs. However, as the Chinese economy was under pressure, they stopped purchasing industrial products from the EU, that slowed the EU economy and made the impact of U.S. tariffs, later targeted in the EU direction, more impactful.
When China (total communist control over their banking system) devalued their currency to avoid Tariff price increase, it had an unusual effect. The cost of all Chinese imports dropped, not just on the tariff goods.
Imported stuff from China dropped in price at the same time the U.S. dollar was strong. This meant it took less dollars to import the same amount of Chinese goods; and those goods were at a lower price. As a result, we were importing deflation…. the exact opposite of what the financial pundits claimed would happen.
In response to a lessening of overall economic activity, the EU then followed the same approach as China. The EU was already facing pressure from the exit of the U.K. from the EU system; so, when the EU central banks started pumping money into their economy and offsetting with subsidies, they essentially devalued the euro. The outcome for U.S.-EU importers was the same as the outcome for U.S.-China importers. We began importing deflation from the EU side.
In the middle of this, there was a downside for U.S. exporters. With China and the EU devaluing their currency, the value of the dollar increased. This made purchases from the U.S. more expensive. U.S. companies who relied on exports (lots of agricultural industries and raw materials) took a hit from higher export prices. However, and this part is really interesting, it only made those companies more dependent on domestic sales for income. With less being exported, there was more product available in the U.S for domestic purchase…. this dynamic led to another predictable outcome, even lower prices for U.S. consumers.
From 2017 through early 2020, U.S. consumer prices were dropping. We were in a rare place where actual deflation was happening. Combine lower prices with higher wages, and you can easily see the strength within the U.S. economy.
For the rest of the world this seemed unfair, and indeed they cried foul – especially Canada. However, this was America First in action. Middle-class Americans were benefiting from a Trump reversal of 40 years of economic policies like those that created the rust belt.
Industries were investing in the U.S., and that provided leverage for Trump’s trade policies to have stronger influence. If you wanted access to this expanding market, those foreign companies needed to put their investment money into the U.S. and create even more U.S. jobs. This was an expanding economic spiral where Trump was creating more and more economic pies. Every sector of the U.S. economy was benefiting more, but the blue-collar working class was gaining the most benefit of all.
♦ REVERSE THIS… and you now understand where we are with inflation.
The JoeBama economic policies are exactly the reverse. The monetary policy that pumps money into into the U.S. economy, via COVID bailouts and ever-increasing federal spending, drops the value of the dollar and makes the dependency state worse.
With the FED pumping money into the U.S. system, the dollar value plummets. Now the value of the Chinese and EU currency increases. This means it costs more to import products, and that is the primary driver of price increases in consumer goods.
Simultaneously, a lower dollar value means cheaper exports for the massive multinational conglomerates who now control our farms and farming resources (Big AG and raw materials). China, SE Asia and even the EU purchase U.S. food and raw material at a lower price. That means less food and raw material in the U.S. which drives up prices for U.S. consumers.
It is a perfect storm. Higher costs for imported goods (durable goods) and higher costs for domestic consumable goods (food). Combine this dynamic with massive increases in energy costs from ideological Green New Deal policy, and that’s fuel on a fire of inflation.
Annualized inflation is now around 8 percent, and it will likely keep increasing in the short term. This is terrible for wage earners in the U.S. who are now seeing no wage growth and higher prices. Real wages are decreasing by the fastest rate in decades. We are now in a downward spiral where your paycheck buys less. As a result, consumer middle-class spending contracts. Eventually, this means household purchasing of durable goods drop because people have less disposable income.
Gasoline costs more (+50%), food costs more (+10% at a minimum) and as a result, real wages drop; disposable income is lost. Ultimately this is the cause of Stagflation. A stagnant economy and inflation. None of this is caused by COVID-19. All of this is caused by economic policy and monetary policy sold under the guise of COVID-19.
This inflationary period will not stall out until the U.S. economy can recover from the massive amount of federal spending.
If the spending continues, the Fed keeps printing money. The dollar continues to be weakened. As a result the inflationary period continues. It is a spiral that can only be stopped if the policies are reversed…. and the only way to stop these insane policies is to get rid of the Wall Street democrats and republicans who are constructing them.
Tucker Carlson hit this point very well last night:
She reminds me of the young Communist Marxists among us. They’re very arrogant about their version of the non-truth. They are so brain washed from their “formal education”, they can’t see themselves or the world clearly. They don’t know how to think critically. They just parrot what they’ve been taught. They can’t engage in a robust debate without resorting to name calling. They believe they’re right and everyone else is wrong. It’s actually terribly sad.
Of all the negative (but true) attributes you’ve listed, the dripping arrogance is THE ONE that particularly sets my blood ON BOIL.
“I’m academia” is a frequent phrase used by a commie I am related to.
Some mistakes are so obvious that only really educated people will make them.
When the Biden Admin asked Gas and Oil Producers to not raise prices, I realized that they don’t know or understand the Law of Supply and Demand. And, I realized that the next step on this road is WAGE & PRICE Controls. They are stupid enough to go there.
” Lets redistribute YOUR wealth …… but not not mine ….”
Guilty of the crime of ‘ wrecking ‘
Gulag Archipelago
What’s going on is akin to what any victorious invading army historically did. They’re like marauding Vikings raping and pillaging the societies they conquered with brute force. The multi Trillion dollar spending packages are designed to rob us blind while funneling all the money to their sponsors and donors and into their own pockets post laundering.
The same thing is going on with the climate change agenda. Throughout all of history charlatan leaders would blame weather events on the actions of their subjects (I.e. it isn’t raining because the rain god is angry with whatever make believe transgression). The goal was to convince the proles to sacrifice their belongings to placate the vengeful nature god. SAME THING HAPPENING NOW. Only we are being required to sacrifice TRILLIONS to Leftists to stop climate change.
Its a RELIGION. Therefore, they have FAITH; faith in the ‘rightness’ and ‘righteousness’ of their positions.
Faith in the underlieing belief, that THEY, as keepers of the holy flame of State, know whats best for the rubes.
They truly BELIEVE that, it is the essence of their faith. They truthfully have no idea, no inkling, at least on any conscious level, that they could POSSIBLY be wrong.
And, since they are totally insulated from experiencing any negative consequences for their policies, …and actually are individually and collectively REWARDED for them, there is no compelling reason for them to CHANGE.
They are like the Captain of the Titanic, ignoring the iceberg warnings, and ordering “Full speed ahead”. They will not stop, or modify or “back off”; since the center of their faith is a faith in their “rightness” to admit to ANY mistake, strikes at the heart of their faith; so, it ain’t gonna happen.
Yes, they really WILL drive the nation right off the cliff, not out of a deliberate, conscious intention to destroy the country, but because of this absolute, unquestioning faith that THEY are right, that THEY know best, and that the new, better reality they imagine (fantasy) is just around the corner.
Our leaders are not sane, rational, they are INSANE and irrational.
F J P !!!!!!
“Yeah, you know Me!”
Remember when President Trump said: We caught them all. I am still waiting for what he caught them at. Maybe one day he will release the info to us before the USA is destroyed forever.
I never thought I would agree with a comment like yours.
IF anyone knows my previous posting, it’s filled with nothing but love for President Trump.
I will never let go of HOPE, however i no longer listen to the rhetoric.
It’s all words.
End of.
You show action. He’s one man. What do you think he should do?
I am involved, what’s makes you assume I’m not?
President Trump is one man with a lot of POWER; and a LOT of people behind him.
I continue to be involved at the local level.
No point in attacking those you know nothing of.
🙂
I was attempting to edit my comment, typically I move on.
However you suggest he is one man; which YES, he is, BUT…
I AM THAT ONE PERSON.
I’ll never Give in or Give up, I’ll never lose the HOPE.
The one constant is GOD and we all know he WINS!
Trump should stop endorsing RINOs like Grassley.
I don’t see how he could have done it any differently than he did.
However, in retrospect conceding on the Climate Change hoax was wrong.
They need to be called out, and that was a big one.
Tieing yourself to the Republicon party guarantees failure, as they ARE the problem, having undermined their base my whole 65 years.
And, of coarse COVID; talk about a set-up; WHO amongst us could have imagined that the people responsible for creating it, would be the top advisors to the POTUS, and that the VP put in charge of them, would also be a traitor?
PDJT’s economic and Trade policies were spot on, his America First, which went beyond economic and trade policies, and his “Economic Security IS National Security”, pure gold.
He was only one man, surrounded by traitors, working to undermine him at every turn.
He exposed so much reality, that so many had been refusing to see.
But I really think this is far bigger than one man, at this point. WE need to save ourselves, instead of hoping some White Knight will ride in to save us.
And, I am not sure WE are up to the task.
President Trump did his duty.
He showed us the enemy.
Now, it is up to everyone else to defeat that enemy.
Sure, he can be involved, but it is no longer his task, rather, it is ours.
Totally agree. Chuck is not the worst but he is a rino and he is 88 frigging years old. He should have retired 25 years ago. Our system underperforms without refreshments of new ideas and people.
Iowa and the upper Midwest have been in a state of managed decline F or decades— all on grassleys watch. Grassley watched manufacturing jobs leave Iowa (remember Maytag?) and he has watched the small farmer disappear and be swallowed by big subsidized corporate multinational agribusiness.
Iowa has seen a steady stream of young talented people leave the state because its economy has been going down the toilet for decades.
One constant has been chuck Grassley. He is in the back pocket of corporate agribusiness.
How anyone could think he has been doing a bang-up
job has no knowledge of these economic dynamic realities and trends. Iowa has been going downhill and Grassley has just watched it and gone with the flow, supporting foolish ideas like ethanol production (makes zero economic or energy sense and isn’t good for Iowans just Corp ag business).
To your point, Trump should tell chuck it’s time to retire. Trump should support someone who will go to Washington and work strategically to return good- paying manufacturing jobs to iowa, and for smaller farms that produce for local markets (NOT China) and offer good career opportunities for people in Iowa.
I love Trump but he’s human and has some blind spots this is an example of one.
There was no “we”–except the True President and us.
Umm he had four freakin years to do something and he didn’t.
If you think President Trump did nothing, you weren’t paying attention.
…STOP … talking about it if he can not do anything about it since ..11/04/2020…..
Why does anyone think they have to “Love” Trump? It is Trump’s competence and his quest for MAGA what is Trump. There is no one we know out there with the leadership and competence willing to do what is necessary to save our Nation other than the present Trump.
Perhaps you’re reading too much into ‘words’
You’re misconstruing my comment.
This is what ‘they’ want.
They want the in-fighting, the divide, the discord amongst fellow Patriots.
Don’t over analyse the word LOVE.
My point is; I have whole heartedly supported President Trump.
I still do.
I was targeted for my support before and now I’m targeted for questioning when things will start moving;
in the direction to whereas America isn’t lost forever.
President Trump is in a leadership role, of the most powerful country in the world, I’m sure he knows he’ll receive criticism.
I’m certain he could care less.
I don’t allow negativity or doom and gloom to consume life, however I also enjoy sharing my thoughts and feelings here.
Are you helping,no, president Trump showed us all how crooked people all work. They trying to distroy America. He’s
already showed you. Don’t blame him. You have no idea what he was faced with.
Whiners aren’t warriors.
You and the people are getting more info everyday. It is the truth which ultimately destroys the “Bad Guys”. However, timing is critical and as long as they continue destroying themselves why interfere?
Because there is quickly coming a point where the damage will no longer be reversible. The speed at which they are destroying America does not allow for us to just “get out of the way”. We need to get IN their way. Someone does.
One example is the border. If they say that 2 million will come in this year, that really means 5 million. This must stop now.
It is at this critical point good thinks will happen. More Americans need to feel as you do and more are feeling it as each day goes by.
The man has vipers surrounding him and every branch of government -including the fourth- against him. He knew the bad guys…we know the bad guys…but he is not a dictator he loves the constitution….unlike FJB. He could only point them out. The other branches had to act on it. Wheres Barr? Wheres Wray? Wheres Halper? Wheres SCOTUS? They were either guilty or they shrugged and looked the other way. I don’t blame Trump he stuck to the rules. Rules that can never be broken by good men.
Trump could be William Wallace (and unite the clans); he could be John Galt (and stop the motor of the world); he could be Gandhi (and bring the nation to a halt); he could be MLK, Jr. (and bring about an end to racism and second-class citizenry).
But, alas, he still is deluded and believes that he can work and win within a system that is corrupt from top to bottom. He naively does NOT understand that our Marxist death cult enemies hate us and want us dead.
WHERE is John Galt?
Should have concluded with the great Terminator quote vis-a-vis the Marxist death cult:
“Listen, and understand. That terminator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead.”
I’m pretty sure Trump has some damning Intel on the Leftists otherwise they wouldn’t have hesitated to put him in jail by now.
Also, all the hubbub about deep fake videos throughout mainstream media seems awfully convenient given that Epstein’s islands had extensive surveillance systems.
I do wish they would release what they got but I can’t help but think of the Brave Heart scene when the Scott’s waited to the last second to pull up the giant hidden spears that destroyed the English cavalry.
It is very sad if even president of US can not /afraid to tell CITIZENRY- what is “INSIDE”…..”we caught them at” Mr. Presiden can you finally after 11 months tell about it on next rally..?????
“And the lie, has in fact, led us so far away from a normal society that you cannot even orient yourself any longer; in its dense, gray fog not even one pillar can be seen.”
The Gulag Archipelago
we didn’t love Freedom enough …..
WE DO NOW!!!
55% of population ??????
We took it for granted, and we put misplaced trust in the government and the corrupt venal ideologues that infiltrated it, then multiplied like the virulent bacteria they are. The whole body of it is diseased and putrid. A rotting corpse.
So many lies, but at the end of the day, people know how much they have in their pockets.
Psaki tells lies?
Whodathunk?
Gas here went from $3.05 to $3.17 overnight. Yesterday I was going to get gas, didn’t, and I now I regret that.
Went from $2.99 to $3.19 in a week here.
Here in Southern Oregon its up to nearly 4 dollars a gallon and rising.
Something I’ve noticed is reports are way down on the usual depots on Gas Buddy across most of southern and coastal Oregon. However, Seven Feathers in Canyonville still has regular for 3.39 as of earlier today. Diesel was 3.55.
At the coast we’re nearly 4 bucks too, plus there’s often rolling outages when the tankers don’t show up. I keep a 55 gallon drum of diesel in the shop just in case.
One advantage during inflationary times in Oregon is no sales tax. Small help but anything is helpful to those of us on fixed incomes.
Texas I’m paying 2.89.
In PA today, $4.05 premium. Getting close to that $5.00 Obama promise.
Unless your car has a specification for a higher octane printed on your gas cap, buying anything higher than regular is doing nothing but wasting money.
We have one station that has ethanol free gas, it is expensive, but once in a while I will fill up w/that. My car runs better on it, most of the time I get regular.
only pain wake some ppl ( joebamas) from tupor ..sadly we all pay for it….
That woman is full of crap…
Of course….the entire Biden admin is.
test
She understands.
Exactly. She knows the truth she just cant admit it openly.
Not that she cannot. She will not.
She can only see what she believes and cannot believe what she sees. It is because as all Libtards they lack; Rationale, Judgment. Commonsense. It is as though they have a missing gene.
Raggedy Psaki is a Turd Polisher… but she’s not very good at it.
Maybe she’s going for quantity, and not quality?
She is PAID to lie.
But she’d do it for free.
psaki only understand the economics of her oversized inflated ego.
and THAT won’t stop either!
lets go brandon!
no…F J B !!!!!
What a set up.
They’re going for Soviet style grocery stores. “Sorry no meat today, wait madame, my mistake, we have some two week old chicken necks.”
The Before Times. When Orange Man Bad. The stores were filled with abundance and variety but it was because there was racccissssmmm.
6uild 6ack 6etter
They aren’t even trying to hide it anymore.
Digital global currency coming soon
Not so sure. Cash is used in lots of different ways – e.g., paying illegals under the table. Rich people do a lot of this.
Yup. Not sure how we can stop it. We don’t have any political representation. John Kerry said Biden is going to bring in the Great Reset fast and hard. And the GOP says NOTHING about the Great Reset, which includes the digital currency system. Congress needs to END THE FED (it’s monster creation) and take back the money power. But they are all corrupt or cowards. Once the digital currency is here, that’s the end of freedom. Unfortunately, I don’t know of any solution to all of this. Even Catherine Austin Fitts, who clearly understands the agenda, doesn’t really offer a solution. Professor Richard Werner has also warned about the end game of the central bankers (digital currency, turn of money of dissenters, RFID chip implant), but he doesn’t really have any solutions either, other than decentralize the banking system. I honestly think about this every day. I refuse to be in their new system, so I don’t know how I’m going to survive once it is implemented. Will they make us pay property taxes and utilities with their digital system? It kind of feels like we are already slaves since we don’t appear to have any say in what they are doing to our world and our futures.
1 m o a b on next meeting in, is it swizturdland? That was easy!!
Socialism is for the people not the socialist.
H/T Andrew Wilkow & another, democrat legislation….so great it has to be mandatory.
An Andrew W ism. Nice
crisp imagery that perfectly captures the essence.
well done.
On the upside, the Bureau of Printing and Engraving is hiring thousands of forklift drivers.
Q: Who will eat our lies?
A: give it to Jen Psaki. She likes it.
I think we really need a few more Let’s memes. Like Let’s Go Brandon, they have to include something sounding at least somewhat like the name of the original creep. They also need to be innocuous enough for a lame lib newscaster to have come up with – and to spread everywhere.
F Nancy Pelosi = Let’s Fancy Lugosi
F Tony Fauci = Let’s Go Ouchee
F Chuck Schumer = Let’s Duck Junior
F Jen Psaki = Let’s Spin Talky
and
F Mitch McConnell = Let’s Switch to Donald!
It’s the same group of people doing the same thing they did to Germany in the 20’s. Inflation, sexual perversions etc. We were warned. Time to wake up and stop denying it.
Time to make a Broadway musical about it.
“Maybe Next Time…”
Dear Lying Red Riding Hood,
If you decrease product supply while increasing the monetary supply, how can there not be inflation?
Signed,
A Citizen
P.S. (For the record, a U.S. citizen is NOT one of the illegal aliens presently being human trafficked into the U.S. and put on welfare for U.S. citizens to pay for en masse by criminal cartels and government Democrats – numbersusa.com).
The Circle Back Bitch will circle back on that one.
I use Little Red Lying-hood.
They lie. Its a genetic feature.
Its always been who they are.
This is so laughable in a sick sorta way! All of these Q’s from so-called independent “journalists’…all obviously pre-fed into her notes. Doocey is the worst! CNN and MSNBS and NPR…always run with Paski killed it on the right winger from Fox mis-info Question. Doocey is a Left Wing Plant…just like his o’l man
From twitter.
VERY IMPORTANT – SOMETHING HORRIBLE COMING – See your bank’s TOS 11/15/2021
I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place!
Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new “old” way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00?
bank of America.
II. ACH and Wire Transfers
Section 5B of your Service Agreement will be revised so that the following limits, fees and cut-off times will apply to ACH and Wire Transfers.
Types of Transfers4,5
Sending Limits (per transaction)6
Receiving Limits (per transaction)6
Fees7
Cut-off time
Three Business Day ACH (outbound) Consumer
$1000
N/A
$3
8 PM ET
Three Business Day ACH (outbound) Small Business
$5000
N/A
$1
8 PM ET
Three Business Day ACH (inbound) Consumer
N/A
$1000
$0
8 PM ET
Next Business Day ACH (outbound) Consumer
$1000
N/A
$10
8 PM ET
Next Business Day ACH (outbound) Small Business
$5000
N/A
$5
8 PM ET
Next Business Day ACH (inbound)8 Consumer
N/A
$1000
$0
8 PM ET
Same Business Day (domestic) Wire Transfer (outbound) Consumer
$1000
N/A
$30
5 PM ET
Same Business Day (domestic) Wire Transfer (outbound) Small Business
$5000
N/A
$30
5 PM ET
International Wire Transfer (outbound) Consumer9
$1000
N/A
$45 (US Dollar transfer)
$0 (Foreign currency transfer)
5 PM ET
International Wire Transfer (outbound) Small Business5,9
$5000
N/A
$45 (US Dollar transfer)
$0 (Foreign currency transfer)
5 PM ET
Your continued use of our Mobile and Online Banking services constitutes your agreement to these changes and to our Online Banking Service Agreement.
4
For domestic transfers, funds will be debited from your account on the business day you direct us to initiate processing of the transfer, and typically will be credited to the receiving account on the same business day, next business day or third business day after the transfer is initiated, depending on your choice.
5
For Direct Payments Service, see the Business Services Addendum for details on fees and limits.
6
Daily and monthly limits may also apply. You may be eligible for higher transaction limits if you add Secured Transfer to receive a one-time passcode on your mobile device or register a USB security key. Higher transaction limits may also apply for
You will be charged $25 for each transfer trace that you ask us to execute for you. International transfers may be subject to additional fees charged by intermediary, receiving and beneficiary banks.
8
To be eligible to receive a next business-day ACH transfer, you must first have received an aggregate of $500.00 in one or more three business day ACH transfers, and the first three business day ACH transfer must have been at least 60 days prior to the first next business day ACH transfer.
9
For international outbound transfers, funds will be debited from your account on the business day you direct us to initiate processing of the transfer will send the payment out on that business day and, except for Remittance Transfers the beneficiary’s bank typically receives the funds 1 to 2 business days later and the funds typically will be credited to the beneficiary within 2 business days. See Section 5.F of the Online Banking Service Agreement for special rules applicable to Remittance Transfers.
For more details, please review the full Online Banking Service Agreement which will include these updates as of November 15, 2021.
Thank you for being our client.
I got mine weeks ago.
When this article landed in my inbox, the fear grabbed me & I immediately opened a family account in a credit union and withdrew WF funds. Monetary Crisis.
FTA: It has begun. Wells Fargo has told all its customers that it is shuttering down ALL personal lines of credit. The bank has made it clear that it is shutting down ALL existing personal lines of credit and it will no longer offer such products. That includes revolving credit lines, which typically let users borrow $3,000 to $100,000. The bank used to sell these products as a way to consolidate higher-interest credit card debt or to pay for home renovations. This also included avoiding overdraft fees on linked checking accounts.
Customers have been given a 60-day notice that their accounts will be shut down. Wells Fargo has declined to comment when asked by Reuters. Previously, Wells Fargo suspended home equity loans, claiming it was due to the economic uncertainty with COVID. Wells Fargo has been struggling with a tarnished reputation following a series of consumer financial scandals. In 2016, the Wells Fargo account fraud scandal led to the resignation of CEO John Stumpf and resulted in fines of $185 million by the Consumer Financial Protection Bureau.
https://www.armstrongeconomics.com/world-news/banking-crisis/wells-fargo-banking-crisis/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS
Holy Hell. It’s real.
Very real. Will get worse. Get out of the big banks.
Can you imagine regular people waiting weeks to get their direct deposit paychecks ? If they’re over 1k they’ll have to wait a week for each 1 thousand dollars.
This is insanity !
I get paid by wire. My commissions are similar to realtor commissions. Sometimes they’re over 20k. I’ll have to wait almost 5 months to get paid in full ????
Capital controls.
Surely they aren’t talking about payroll direct deposits?? Individual count transactions are going to be hit, for sure.
For years, Wells Fargo only credited $400 per check deposit and the rest the next day.
Wells Fargo are crooks
The article you linked re Wells Fargo is dated July 12. They have changed their plan and are NOT closing LOC accounts.
I am a Wells Fargo customer and have a LOC. I received that notification–that they were shutting down LOC offerings….I received that back in July, I think it was.
About a month ago, I received a follow up communication that simply said they had changed their mind and would not be shutting down LOC accounts on September 15.
My LOC continues in its open status, same credit limits, same terms of agreement.
Your comment contains inaccurate information and states as fact things that are not so.
Sharon – Thank you for added information. Obviously, my data was dated in July — which you reference, so no need for the snarky comment……. “your comment contains inaccurate information…blah, blah.” You sound like Facebook and Twitter.
Wow. That was not snark. It was factual. So Sorry to have engaged.
I do not use fb or twit and never have, so I have no idea what their language is.
“Your comment contains inaccurate information and states as fact things that are not so.”
Pure snark.
Gonna have to agree with Sharon on this one. Please don’t be so defensive, we’re all on the side here.
She should change her name to Karen…..
Really? For providing more current and accurate information?
While you’re interpreting the comments as snark, I read them as concern that people would be reacting to outdated and incorrect information.
From you is needed less EGO, more TRUTH. Please make a note of it. Thanking you in advance.
What is ACH
Automatic Clearing House transfers.
Any wire transfers, direct deposits , e-checks or electronic transfers.
Thank you, you are so correct!
Sundance…
Your coverage of this, is outstanding.!.
What an absolute gem you are..
Thank you.
Carlson called yellen a reptile. Interesting.
As one of our talk show hosts in Milwaukee refers to her:
Psak of crap
But who can forget the $.19 saved for the 4th?
She lies like there’s no tomorrow.
I’m glad she’s young enough so when tomorrow comes she won’t be able to show her face. She will have to live will what she was a part of. There are always consequences to one’s choices and her’s will be bad.
Great comment!
DJT should have done this last Feb., and I support this 100%!
Trump isn’t threatening anything. He’s just simply stating an obvious fact.
Needs to be held over the repubs heads. Thats how Im taking it, and its about time!
idiot GOPe elites think they can shove Nikki Haley & Mike Pence down out throats
Why wouldn’t they think they could shove anyone they want down our throats with rigged vote counting machines? They shoved Joe Biden and Kamala Harris down our throats, they can shove whatever they want down our throats.
Rs will only win if the overlords deem it necessary (or they pay the acceptable bribes…)
Now you talking !!!!!!!
And Mike Pompeo.
F N H & F M30 P !!!!!!!!
It’s too bad millions of Americans will believe her and the news they watch won’t dispute her. The MSM is America’s biggest enemy because the government couldn’t get away with their lies without a compliant media to back them up.
To be fair, telling lies is her job. Being annoying is something extra that she brings to podium.
She should have stuck to her favorite response- I’ll circle back.
Liar liar pants on fire. Meanwhile the dumbfounded media gaslights us. FJB.
I forgot nose as long as a telephone wire. Hello pinnocio.
1976 – Point / Counterpoint – SNL
Dan Ackroid
Jen , you ignorant slut !
I also love Pres. Trump’s lowering taxes, and his pushing the manufacture of products in the US.
Well, I guess I’ll learn to make no-knead bread. And I’ll stock up on flour and yeast. (Flour and yeast were almost impossible to get at the beginning of the pandemic.)
Boxes of muffin mix are handy too, but muffins have more sugar than bread does.
Sugar was sparse here at times. I’ve stocked up on flour, sugar, yeast and all seasonings.
I’m about to ask the hubby if we can get an upright freezer for the basement as an accompaniment to the chest freezer in the garage.
Good idea to get the extra freezer for storage. You never know.
And the extra freezer would give you room to store lots of ice, which might come in handy on hot days if you lose power.
O my Jen Psaki (AKA Raggedy Ann) u know nothing!!
What items were in “low demand” during the pandemic in 2019-2020? Spoiler alert ? the answer is NOTHING! During 2 weeks to slow the spread and beyond nothing was in low demand….. what is she talking about?
I had my food delivered. At the beginning of the pandemic, on average, I’d get only about half of the food that I’d ordered. The computer listing would say that the other food items were out of stock.
So I learned to order twice as much food as the refrigerator and freezer would hold. Then I’d get the right amount.
But it was weeks (maybe months) before I could get get flour, yeast, or milk powder. Or soap, cleaning liquid, or sanitizing wipes or fluid like Purell. Or paper towels or toilet paper. Good luck with that!
The left wing has captured the Democrat Party, or, just as likely, mainstream Democrats are now comfortable pursuing the leftist policies they have always coveted.
Leftists believe in taqqiya, lies and deceit to advance the cause, as much as any radical Muslim.
This euphemism of “transitory” inflation seems an exercise in stalling, buying time. The American Left may well have entered into a pre-revolutionary phase. Making the 2020 election a corrupted and therefore worthless exercise may have been a “transitory” stage to doing away with elections altogether.
Sundance and others have predicted they see something very big coming soon. Assuming the 2022 election will be allowed to happen may be assuming way too much.
little red lying hood is an economic illiterate. also a very poor liar.
PanFaWar: Stock up!Stock Up
Stock Up
Stock Up
This is live fire. Not a training exercise.
Increase your Resilience.
Listen to old Preppers. Turns out the crazy people were right, and not crazy after all. Just ahead of the ball.
And stock up some for me in case I knock on your door while traveling to all 50 States. (I stocked up, but cannot carry much.)
Do not tell the neighbors you are a Prepper. First rule of Prep Club, there is No Prep Club.
://michaelyon.locals.com/upost/1169022/panfawar-stock-up
Our “free press”, always signaling their virtue and seeking special constitutional protection that doesn’t exist, surely is keeping a log of Circle Back Bitch lies and intensely challenging every premise she makes. Just like they did for all of the Trump press secretaries. Am I right ?
I see Psaki as an asset. The more people who see and hear Psaki the more people turn against the present Communist/Fascist/Totalitarian Democrats now in power.
Using the WH Youtube channel as a sample, it appears of the miniscule population which visit, many downvote and overall I’ve got subscribed channels watching trains go by that get more views than the WH does on any random day. It would be interesting to find the metric of watchers who are patriots keeping an eye on Psaki’s lies versus the Biden believer crew.
IMO, the Communists have their marching orders through back channels and Psaki is simply a daily dog whistle or distraction for the rest.
Inflation, the untax. Like an uncola, it bares little resemblance to the real thing. Both will quench the thirst however. If they can’t get it away from you one way, they have to do it another. The road to serfdom is well established and trodden. A blind man could do it.
Let the purge begin in the institutions of so-called “higher learning”.
Now A US Govt Official Is Telling Us That Supply Chain Nightmares Could Potentially Last For “Years”
Excerpt:
Transportation Secretary Pete Buttigieg admitted that some of the supply chain problems that we are currently facing could last for “years and years”.
https://www.zerohedge.com/economics/now-us-govt-official-telling-us-supply-chain-nightmares-could-potentially-last-years
Feds to Americans: Expect your heating bills to soar big-time this winter — as much as 54%
https://www.theblaze.com/news/government-winter-heating-prices-spike?utm_content=buffer09f98&utm_medium=referral&utm_source=facebook&utm_campaign=fb-glennbeck&fbclid=IwAR3v42CcFnKQzLgoP9S44mDD3jlrkXTTYWTbgdKZbuyWVg3AGppgfejFMuY
I would never have believed low cost hydro power would be an asset, long loving the heat from fossil fuels and wood, but barring destruction of the grid it looks like it’s going to work out OK in this inflationary period. Our PUD, from what they tell us, is tied nearly entirely to Columbia River hydro production. Seven cents per KwH. Pot belly stove and wood for a backup.
God be with those in truly cold country this winter, particularly fellow oldsters on fixed incomes.
She is a representation of todays educational system. She has been marinated in lies and believes and spreads them because she goes unchallenged. When a conservative asks her a question she runs out of the room.
I sure hope gold/silver was a good bet!
Why is anyone surprised. She lies every time she opens her mouth
…as dedicated bolshevik…F J P !!!!!!
Listen or hear Larry Kudlow. He will tell you what’s happening and what’s to happen.
Ain’t pretty and ain’t good and We The People, as usual, the mid-working class get crushed…..
Next 3Y will be abysmal, dark, bleak and there will be major disruptions in supply/demand, inflation and IF the massive $$$trillions bills get passed, all bets off how BAD it becomes….
“Miss me yet?”
-Donald Trump
THE 7 DEADLY SINS HAVE TAKEN OVER THE SO CALLED LEADERS AND BUSINESSES OF OUR NATION !!
pride = DC ELITE Never admitting your plans are LIES and money laundering schemes
greed = Destroying American industrial base
lust = Destroying the human identity everything is ok non binary………
envy = Destroying the church and those who believe
gluttony = Gorging on the American taxpayers TRILLIONS IN DEBT for what
wrath = Destroying those who disagree with Demonrats liberal views
sloth = THE WELFARE STATE….. non-working society
STAND UP AMERICANS STOP THE LIES FROM THE DC ELITES !!