ITM Trading, Released on 5/22/24

“I’m a firm believer in the Fed’s inability to do anything about inflation. It doesn’t mean they’re not raising rates, but the reality is that costs of everything are still rising,” says Nomi Prins, American economist, author, journalist, and public speaker. She tells Daniela Cambone that the Fed has lost its power to combat inflation. As the reality hits with expensive groceries and other necessities, the Fed’s claim is just “an illusion.” Nomi also expresses her concerns over the increasing U.S. debt. “Today, with almost $35 trillion of debt, we are looking at up to $2 trillion per year just in interest payments. Before we even turn the lights on for the U.S. economy, we’re doing an interest rate payment tab,” she states. Watch the interview to learn more about Prins’ views on the U.S. economy and her career leap from Wall Street to being a journalist.

00:00 US debt
4:23 Dollar devaluation
6:00 Disconnect between Wall Street and Main Street
9:32 Gold
11:30 How much influence did the Fed have in the 90s?
12:54 Nomi’s career leap
16:08 Silver

Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, Collusion: How Central Bankers Rigged the World and Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever. She publishes articles on her Substack which is called Prinsights. 

  dollar, economy, gold, investing, silver