Cryptocurrency: Jefferson vs Central Banks

[grarpamp]

https://i.imgur.com/a87g6LB.png  BurntBanksyNFT still worth zero


I believe that banking institutions are more dangerous to our
liberties than standing armies. If the American people ever
allow private banks to control the issue of their currency,
first by inflation, then by deflation, the banks and corporations
that will grow up around the banks will deprive the people of
all property until their children wake up homeless on the
continent their fathers conquered.  -- Thomas Jefferson 1802

P2P cryptocurrency ends Govt-Private bank schemes.


The Fed's Catch-22 Taper Is A Weapon, Not A Policy Error

https://alt-market.us/the-feds-catch-22-taper-is-a-weapon-not-a-policy-error/

https://www.federalreserve.gov/boarddocs/Speeches/2002/20021108/default.htm
https://www.edwardjayepstein.com/archived/moneyclub.htm
https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/
https://www.weforum.org/agenda/2020/07/great-reset-must-place-social-justice-centre/
https://www.weforum.org/agenda/2019/04/is-it-time-for-a-true-global-currency
https://www.nasdaq.com/articles/exclusive-imf-10-countries-simulate-cyber-attack-on-global-financial-system
https://www.centerforhealthsecurity.org/event201/scenario.html

Back in 2018 leading up to Christmas the Federal Reserve began
publicly flirting with the notion of ending asset purchases, reducing
their balance sheet and committing to an all around taper of stimulus.
I wrote about it extensively at the time along with my position that
the Fed could and would taper, at least for a short period, which
would lead to an accelerated crash of stocks. This did in fact happen,
but as we all know the Fed reversed course not long after.

This reversal was seen by many as proof that the Fed would “never”
actually pursue a full blown taper and that stimulus measures would go
on forever. I believed it could be a dry run for a more aggressive
taper event down the road. I argued that the fed would continue
stimulus until stagflation became evident to the public, and then a
careful game of scapegoating would have to be played and another taper
would commence.

It is also important to understand that there were many in the
economic media that also argued that because the dollar is the
preeminent world reserve currency the central bank could print dollars
perpetually without inflationary consequences. This notion became a
basic fundamental of Modern Monetary Theory (MMT).

Of course, MMT is utter nonsense. There are ALWAYS consequences for
overt money creation even for world reserve currencies. It doesn’t
matter if you try to price your national currency without comparisons
to foreign currencies; under globalism and economic interdependency
the velocity of money matters. If a country is printing with wild
abandon, those dollars are going to buy less labor, less production
and less goods overseas. Nothing defeats the laws of supply and
demand, not even strategic debt creation.

We are now at that stage again where price inflation tied to money
printing is clashing with the stock market’s complete reliance on
stimulus to stay afloat. There are some that continue to claim the Fed
will never sacrifice the markets by tapering. I say the Fed does not
actually care, it is only waiting for the right time to pull the plug
on the US economy.

In previous articles I have described the Federal Reserve as an
“ideological suicide bomber.” There are some people out there that
still do not grasp this concept and it boggles my mind to see how they
rationalize many of the fed’s actions, as if the people running the
fed are “oblivious” to the damage they are doing.

First and foremost, no, the Fed is not motivated by profits, at least
not primarily. The Fed is able to print wealth at will, they don’t
care about profits – They care about power and centralization. Would
they sacrifice “the golden goose” of US markets in order to gain more
power and full bore globalism? Absolutely. Would central bankers
sacrifice the dollar and blow up the Fed as an institution in order to
force a global currency system on the masses? There is no doubt;
they’ve put the US economy at risk in the past in order to get more
centralization.

At the onset of the Great Depression, the Fed increased interest rates
into weakness after years of artificially stimulating markets with low
cost debt. This prolonged the deflationary crash for many years. It
was not until many decades later when former Fed chair Ben Bernanke
gave a speech celebrating economist Milton Friedman’s 90th birthday
that a central bank official finally admitted that the organization
was culpable for the Depression debacle.

    “In short, according to Friedman and Schwartz, because of
institutional changes and misguided doctrines, the banking panics of
the Great Contraction were much more severe and widespread than would
have normally occurred during a downturn.

    Let me end my talk by abusing slightly my status as an official
representative of the Federal Reserve. I would like to say to Milton
and Anna: Regarding the Great Depression. You’re right, we did it.
We’re very sorry. But thanks to you, we won’t do it again.” – Ben
Bernanke, 2002

What Ben Bernanke did not admit to was that the engineered
deflationary crisis greatly benefited the allies of the Fed – The
international corporate bankers. Companies like JP Morgan and Chase
National were suddenly in a prime position to seize unlimited power in
the US. But how?

Not many Americans today realize that a hundred years ago banking was
highly decentralized. In fact, there were thousands of smaller
community banks all across the country back then that were not
attached to titanic banks like JP Morgan. One of the biggest coups of
the Great Depression was that at least 9000 of these small banks were
destroyed by the crash or absorbed by the international banks. There
was no longer any local competition to the major corporations, they
now dominated all lending markets.

If you wanted a loan or if you wanted to open a savings account after
the depression, you would have to go through a small handful of
mega-conglomerates. Complete centralization of finance had been
achieved and the Fed helped to make this happen. Was this purely
coincidence and negligence on the part of the Fed, or, did they know
exactly what they were doing?

To be clear, the Catch-22 of taper vs stimulus and stagflation vs
deflationary collapse is only a trap for the American public, it is
NOT a trap for the Fed.

Again, they don’t ultimately care about the survival of the US
economy. They’ve been destroying our financial system and currency
slowly for over 100 years and they have been speeding up the process
ever since the crash of 2008; why would they suddenly want to save it
now? The Fed may taper or they may not. I predict they will once again
officially taper at least for a time. Whether they continue to hold to
that taper and for how long is a separate question. In either case,
the dollar’s purchasing power still comes under threat and price
inflation will still be the result.

If the Fed sticks with asset purchases and ultra-low interest rates,
then the current stagflationary crisis will continue to grow. If Biden
gets his “Build Back Better Plan” then expect even more price
inflation as infrastructure projects turn into helicopter money much
like the covid lockdowns turned into months of covid checks. This
stimulus only served to undermine the labor market (To this day many
states still have some covid welfare programs in place on top of
regular unemployment benefits, which has fueled worker shortages –
Only in the past month are all benefits starting to run out).

Helicopter money also leads to an explosion in demand for goods which
then leads to higher prices as manufacturing cannot keep up. That is
to say, more dollars chasing less goods leads to higher prices.

Furthermore, the central bank is the largest investor in US bonds. If
the Fed raises interest rates into weakness and tapers asset
purchases, then we may see a repeat of 2018 when the yield curve
started to flatten. This means that short term treasury bonds will end
up with the same yield as long term bonds and investment in long term
bonds will fall. A dumping of long term bonds causes a decline in
currency value and a flood of dollars back to the US. Result?
Inflation.

No matter what the Fed does the consequence will be
inflationary/stagflationary. The only difference is that if they taper
there will also be an immediate decline in stocks and the overall
crash will happen faster. The presumption by some is that a reversal
in stocks will lure more money into the dollar, and this might happen
for a short period of time. However, as mentioned if the yield curve
flattens or there is instability in Treasury bonds there will be no
saving the dollar either.

The bigger question is, why would the central bank trigger this crisis
deliberately?

The Fed does not serve the purposes of the US, it serves the purposes
of international banks and the agenda of globalism. It is openly
admitted that national central banks take their marching orders from
an entity called the Bank for International Settlements, and this
includes the Fed. The BIS is a consortium of central banks from around
the world that dictate overall central bank policy. If you have ever
wondered how it’s possible for most national central banks to change
policy in unison the way they tend to do instead of all of them
reacting differently to economic problems, this is how.

There is a very interesting article published by Harpers Magazine in
1983 called ‘Ruling The World Of Money’ which I recommend people read
if they want more insight into how the BIS operates and controls the
decisions of regular central banks.

Everything the Fed does is to further globalist goals, not American
goals or the American economy. The Fed will do as it’s ordered to do.
And how do globalists benefit from America’s decline? Let’s not forget
about the “Great Reset” agenda which the World Economic Forum, the IMF
and other institutions have been so vocal about since the beginning of
the pandemic. What the globalists want is to force the public to
accept a completely centralized one world system based on socialist
ideals, and this will include a one world currency that supplants the
dollar. They will use any means at their disposal to get it, whether
it be a pandemic crisis or an economic crisis. In fact, they are
perfectly willing to engineer both.

It should be noted that the IMF and World bank recently held a
“simulation” (war game) of just such a crisis. The game involved a
cyber attack on global financial institutions which would then lead to
economic collapse. I warned about the propensity for globalist
simulations to play out in real life in my article ‘Cyberpolygon: Will
The Next Globalist War Game Lead To Another Convenient Catastrophe?’
Even the covid pandemic seems to have been simulated only a couple of
months before the real thing happened, as we saw with Event 201 held
by the WEF and the Bill And Melinda Gates Foundation.

The covid panic that the establishment has tried to create is waning,
at least in the US. I continue to see evidence of their plan failing
in America as almost half of all states are now blocking the mandates
and Biden’s executive orders are meeting stiff resistance in the
courts. Any attempt to actually enforce vax passports or forced
vaccination here will lead to a war that the covid cult will lose,
it’s that simple. So, the globalists are going to need a different
crisis to create further “opportunities”, and an economic crisis would
definitely fit the bill.

It’s time for alternative economists to STOP looking at the Fed as a
self serving institution struggling to keep the US economy propped up.
This is not reality. It is also time to stop pretending as if the Fed
is bumbling about and doesn’t have a clue. These people are not
stupid, they know exactly what they are doing. The Fed will destroy
our economy if they believe the timing is right to create a new world
order out of the chaos. When they pull the plug (and they will one way
or the other), they need to be held accountable as conspirators
seeking to sabotage, not as dunces that “made mistakes.”

Isn’t it strange that no matter how many financial catastrophes
central bankers have their hands in they never seem to face any
consequences and always seem to enjoy more power afterwards instead of
less? Even when the institutions they operate collapse, the bankers
themselves always land on their feet with the goals of globalism
intact. This needs to end, and the the only way to make that happen is
to visit punishment on the people behind the banks for their treachery
and conspiracy instead of chalking it all up to gullibility or simple
greed.