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NOQ Report Is Moving to AmericaFirstReport.com

Newsmax’s Steve Cortes Blasts the Fed for Crushing the Middle Class and Protecting Biden

by Tyler Durden
August 31, 2021
in Opinions
Newsmax's Steve Cortes Blasts the Fed for Crushing the Middle Class and Protecting Biden

NOQ Report Is Moving to AmericaFirstReport.com

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Former Fox Business anchor Trish Regan spoke with former investment manager turned White House advisor turned Newsmax host Steve Cortes on her podcast called “American Consequences” about the Federal Reserve decimating the American middle class.

Article by Tyler Durden from Zero Hedge.

Before Regan spoke with Cortes, she provided readers with a backdrop of the word “transitory” and how The Fed ignores soaring prices of goods and services. Heck, it’s a brilliant strategy by the Fed because if six months from now prices are still increasing, Chair Jerome Powell will merely say inflation remains transitory. Still, in reality, it’s not and becoming more persistent…

Regan asked a very important question during in the intro of the podcast: How long can the middle class handle surging stagflation: soaring gasoline and supermarket prices and barely any real wage growth (on top of new virus restrictions).


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She said the 11-14% food price increases at the supermarket are beginning to dent consumer sentiment, adding that middle-class wages adjusted for inflation aren’t going as far as they used to. Many folks are living a different life than they were in pre-COVID times, and they’re becoming furious that the American dream is collapsing in front of their eyes. 

Regan adds a confluence of bad events, such as inflation, souring consumer sentiment, and the Afghanistan withdrawal debacle is damaging people’s perception of the Biden administration.

And to circle back to the Fed, she said unless Powell and his gang of monetary wonks begin to taper or at least raise rates in the near-term, the inflationary impact will continue to crush middle America. She added that if inflation is not tamed and the Fed had to resort to former Fed chair Paul Volcker’s move for drastic rate hikes to curb inflation, it would severely impact asset prices, such as stocks, bonds, and real estate.

For more on this, Regan brings in Cortes, who said the Fed had been politicized and they care about two things:

  • They are worried about removing the punch bowl of excessive monetary policy and don’t want to look like the bad guy;
  • Also, he believes the Fed is “trying to protect President Biden.” 

Cortes told Regan the Fed should pair down its unprecedented $120 billion per month in bond buying and begin to lift the federal funds rates off the zero lower bound to tame inflation. He said inflation has created new wealth for elites but at the expense of middle America, barely seeing any wage gains adjusted for inflation.

He warned that a continued rogue Fed would “crush middle and low-income people.”

And none of this should come as a surprise because ZeroHedge from inception has been very clear on the Fed’s role of excessive monetary policy has created the greatest wealth divide in human history as the hidden 3rd mandate of raising asset values directly benefits the rich (who own all the assets) as opposed to the poor and middle class plebs (who own all the debt).

It should also be clear that The Fed, tenured economists, and the financial media are doing everything in their propaganda power to convince Americans that the current burst of inflation is transitory, although it now appears that even the Fed has doubted its own narrative, saying inflation is “more lasting but likely still temporary” until proven otherwise.

With all the wealth and power increasingly being transferred to financial elites under an easy money regime via the Fed, who are enjoying asset price inflation, comes at the expense of an increasingly debt-ridden (just to keep up appearances) collapsing middle class that has been well underway for decades.

For more on this, here’s the interview: 

Sadly for the Fed, even the great unwashed masses have started to realize central banks have pushed more people out of the middle class than ever before, through just a “little more” wealth redistribution from the poor and middle-class to the rich, and Biden will soon be wondering if tweeting “let them eat cake” as the S&P prints new daily all time highs will help delay the next American revolution… or stoke it.

Simply put, The Fed has cornered itself and doesn’t want to be the one to remove the monetary punch bowl at the party when everyone is having a good time… especially ahead of 2022’s Midterms.

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Plandemic, Voter Fraud, Afghanistan: All Parts of The Great Reset

If you still consider “conspiracy theorist” to be a pejorative, you’re not paying enough attention.

What do Covid-19, 2020 (and beyond) election fraud, and our disastrous abandoning of American citizens in Afghanistan have to do with one another? They’re all parts of the globalist plan to usher in a new era of Neo-Marxism in a depopulated world. This is The Great Reset unfolding before our eyes, and the only way we can stop it (other than through constant prayer) is to stand together and spread the truth.

Covid-19’s attachment to The Great Reset is obvious, though we continue to post about it daily. Voter fraud is a bit less obvious but nonetheless easy to recognize when we understand that people like Joe Biden, Justin Trudeau, and Emmanuel Macron are pushing to “Build Back Better” under the precepts of Neo-Marxism.

The Afghanistan betrayal in August, 2021, is harder to associate with The Great Reset, but it’s definitely just as attached. We can see this is the unwillingness of the Biden regime to extend the deadline to withdraw despite American lives put clearly in harm’s way. We can see it in the needlessly abandoned military equipment that was conspicuously left intact; disabling a Black Hawk takes minutes but they were given to the Taliban in pristine working condition. Then, there’s the pallets of hundred dollar bills left for them. If you think all of this was just irresponsible governance, you probably think Barack Obama is out of politics, too.

Weakening America’s standing in the world and empowering the Chinese Communist Party and others to engage fully with our enemies in a globalist cabal are beneficial to the architects of The Great Reset, and both happened in one fell swoop in August.

These truths need to be spread. As a conservative network of news outlets, we are swimming upstream against the forces of mainstream media. We are getting canceled across the board by Big Tech. We will continue to spread the truth to millions, but we desperately need help to spread the truth to a wider range of people. This is where you come in.

The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8

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We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.

Also, we could use contributions of content. If you write or want to start writing and you share our patriotic, conservative, America First ideology, contact us. The contact form on this and all pages on the site goes directly to me.

Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.

While donations are the best way to help, you can also support us by buying through our sponsors:

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We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).

Precious metals are a MUST for those protecting wealth or retirement in this concerning Biden economy. We recommend a smaller, personal service company in Our Gold Guy and a larger, established firm in Goldco. It all comes down to personal preference.

Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.

Thank you and God Bless,
JD Rucker

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Yes, We Need Your Help

I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…

When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.

Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.

The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our new GiveSendGo. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.

We currently operate:

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I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.

For those who have the means and just want to help keep the mission of spreading a conservative, Christian message to the nation, please consider a generous donation.


Tags: Steve CortezThe FedTrish ReganZero Hedge

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