The Federal Reserve, Bank of Canada & Purple Unicorns


I try not to hold back my words especially when it’s this important to be honest.

A few months ago, I talked and listened in length to the CIO of one of the five major Canadian banks, as well as members of The Bank of Canada during the Mark Carney administration. All of them were very nice. And I hope they invite me back.

I also listened and read everything the Federal Reserve has said in the last five months about the “healthy economy” and how it was time to raise its interest rates in the face of me and others adamantly saying they will never do it because they simply can’t.
So I have drawn a conclusion. They are all very nice people.



BUT, they live in a bubble. Is it a bubble filled with purple unicorns and a sign that says “No contrarians allowed” or is it a bubble filled with fear? Maybe it’s both.

Either they are incapable of making forensic fundamental monetary decisions, since none of them factored in any debt issues when they painted their purple unicorn picture of the world economy months ago. I called them out on it and they never answered.

But hey, what’s $123 Trillion in unfunded U.S. liabilities among friends?

OR they are deliberately trying to mislead people in order to not cause a panic while they ran a test to see what would happen when they raised interest rates because they know they have no choice.

Janet Yellen is speaking right now as I’m writing this. She recently came out and said their further rate hike plans hinge on whether turmoil persists.
I’ll do a follow up commentary later.


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About Author

Leslie Michael Jr. was born and raised on the Westcoast of British Columbia, Canada. He is a lecturer of Money Uncensored, a series of presentations designed for North Americans and people from around the globe to better understand the financial direction this world is headed and what they can do to protect themselves financially.

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