We promised you last week that we would keep an eye on the Federal Reserve and let you know what it is up to. That is because there is always a plan afoot to manipulate the currency and destroy its value. Today we want to warn you about the latest.
There is no name for it, so we will just call it The Full-Tilt Crypto-Boogie.
The stories of government money printing are legion. Real-life stories about all the printing presses, the ink, and the paper that have been used to destroy currencies.
About 50 years ago Milton Friedman talked about the Fed distributing freshly printed money from helicopters to the unwashed masses below.
Not long ago, Fed chairman Ben Bernanke re-popularized the term to explain that when the Fed is serious about devaluing the dollar, that is how it can be done.
By just dropping dollars from the air.
But that is so yesterday!
We will probably keep using the term “printing money” to describe currency inflation because it evokes a clear image of the actual policy, even though we know perfectly well that in our digital age, it is way behind the times.
Even “helicopter money” is hopelessly outdated because the Fed has new ways of doing things on its drawing boards.
A month ago we described a plan under consideration at the Fed of something called “recession insurance bonds.” The Fed would deposit these in people’s accounts in advance, then, when the Fed decided, it would flip of a switch to activate them.
Another scheme calls for every American to have a bank account at the Fed, allowing it to make instant deposits (and withdrawals, although they aren’t really talking about that part!) at any time and place of its choosing.
What is the point of these schemes? What’s wrong with them making midnight deposits in our accounts?
Since there is no such thing as a free lunch, we must look more closely for the reasons for these free-money policies. First, they will demand that all Americans be herded and corralled into keeping all their money institutionalized. It is designed in part to help the State surveille your every move, so it means the end of cash, too. This will help the Fed implement a negative interest rate regime. After all, most people will never be willing to pay the bank to hold their money. So, they must not have any choice in the matter.
These monetary schemes will allow the Fed’s cronies to conduct currency wars to their benefit and at the expense of the people. Oh, and since its “just monetary policy,” it is an attempt to evade Congress and the people’s representatives.
These schemes are also designed to allow the authorities to instantly transmit to every account in the land, and automatically implement, policy changes like tax initiatives and rate changes.
And finally, the Fed must create a lot of inflation to devalue $27 trillion in debt. Piddly little inflation rates of two and three percent are not up to the job. It will take much more than that.
So now the Fed seems to be settling on a favorite plan to create a lot more inflation.
It’s The Full-Tilt Crypto-Boogie.
It’s the Fed’s own digital-crypto-central-bank-block-chain-wallet-Fed-coin-currency. You can read more about it here at the website ZeroHedge.
We will be writing more about The Full-Tilt Crypto-Boogie in the future. But for now, it’s about the best damn reason that we have ever seen to buy more gold and silver!