Hello fellow Rebel capitals hope you're well so I am in the process of doing tomorrow's whiteboard video

I wanted to ask you guys a question a quick thought experiment here and once we go through this thought experiment, I think you will discover it will be revealed who actually controls interest rates.

And it's not the Federal Reserve.

It's not Jerome Powell.

And why is this important?

Because the mainstream narrative out there

is that the Fed is going to land this plane gently.

We're going to have no landing or a soft landing.

But that would imply that the Fed controls interest rates.

The Fed controls what is going on in the economy. The Fed controls liquidity

within the banking system. Therefore, it can do something preemptively.

But if we realize that the Fed is not in control, the Fed

doesn't even control interest rates, then we realize that it's impossible for

them to do anything other than react.

So how can they orchestrate a soft landing

when the only thing they can do is respond

to a hard landing.

You see?

But let's start with a quick thought experiment.

Josh and I'd ask you this exact same thing.

What do you think interest rates would be right now on the 10-year Treasury if the Fed never would have raised rates starting in 2022?

So if Fed funds was still at zero percent, where do you think the

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