The Full-Tilt Crypto Boogie, Part II
Own gold (because the Fed never stops scheming!)
It has been a while since we updated you on the Federal Reserve’s leading-edge plan to control the people, and increase their dependency on Washington.
But we learn that the Fed is still moving ahead on what we had dubbed “The Full-Tilt Crypto-Boogie”.
There is no better name for the Fed’s own digital-crypto-central-bank-block-chain-wallet-Fed-coin-currency.
The Fed has done such an admirable job managing the existing US dollar, that now it is ready for bigger and better things: full-spectrum dominance of every commercial and monetary transaction in America.
It will give Washington prior restraint, complete approval, total veto power, punitive oversight, and unlimited surveillance of everything.
We repeat …EVERYTHING!
It amounts to nothing less than a Chinese-style social credit system. Say something, read something, do something, associate with someone the State doesn’t approve of and find yourself unable to function in modern life: unable to buy or sell, have a bank account or credit, own property, drive, fly, be insured, access medical care… and so on.
The Fed has published a new report titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” We aren’t encouraged to note the first bullet point in its introduction explains that the Fed “conducts the nation’s monetary policy to promote maximum employment and stable prices in the U.S. economy.”
Stable prices? How has that been working out for us?
Inside the report, you will discover the brazen acts of public relations spin. The Fed appears to have adopted a term being used by the President’s Working Group on Financial Markets (we call that the plunge protection team), along with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and others for new central bank digital currencies tied to the dollar.
They are calling it…
Wait for it…
Okay. They are calling it “Stablecoin.”
Ha, ha, ha!
The Fed urges Congress to get ahead of the stablecoin curve for now. At the same time, it is seeking public comment about the ultimate structure of its central bank digital currency, the full-tilt crypto-boogie.
We will revisit the issue before long to illustrate in some detail the kind of authoritarian and socialist control its latest monetary scheme will vest in the central bank.
But for now, it is about the best damn reason that we have ever seen to buy more gold and silver!