11

Is “Great Reset” just leftist dialectic for a gigantic monetary “rug pull”? Time to “Go Galt” before Fed runs out of room to raise interest rates?

Posted by bubah1mau 2 years, 2 months ago to Economics
25 comments | Share | Flag

ZeroHedge (where I initially found the source article) picked up what was authored by Nick Giambruno and posted at Doug Casey's International Man website.
SOURCE URL: https://internationalman.com/articles/its-game-over-for-the-fed-expect-a-monetary-rug-pull-soon/


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • 10
    Posted by freedomforall 2 years, 2 months ago
    Q: Why must the fed play by those rules?
    A: Because the bankers and elite are protected from destruction by this.

    The purpose of higher interest rates is to slow credit creation.
    Higher rates mean fewer people can qualify for loans and less money is created.
    Loans are the only way that money is created in the system.
    Higher rates also mean more profits for bankers.
    They get to steal from everyone else by creating loans from nothing.
    Bankers are NOT loaning their own money when they create loans.

    There is an obvious alternative.
    Con-gress can restrict bank lending without increasing interest rates.
    They can pass legislation that increases the percentage of assets banks
    must retain compared to outstanding loans.
    That reduces credit creation without higher interest rates.

    Why don't they do this?
    Banks profits would be reduced and banks would not be able to steal as much from the People.
    Can't have that.
    Government spending would also likely be reduced.
    Can't have that.

    Better to bankrupt the People and make them slaves to the elite.

    That has been the plan ever since the bankers met in secret in 1912
    and their corrupt con-gress created the federal reserve act in 1913.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by 2 years, 2 months ago
      Yes, there are alternatives to FED acting independently against inflation or deflation (chiefly by raising or lowering interest rates).

      Giambruno's main point, I thought, was that the FED only has so much leeway in raising interest rates to an effective degree--as that would cause debt service of the national debt to go up proportionally.

      Very soon, at present and proposed velocity of interest rates' increase, national debt service consumes ALL taxes, leaving nothing for alternate government expenses (even for what some here might regard as legitimate--chiefly military defense and the border enforcement that isn't currently happening).
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by freedomforall 2 years, 2 months ago
        Yes, but the article just spreads the propaganda that there is nothing the fed can do.
        They have a solution, but it solves the problem at the expense of the thieves in the fed, which isn't what the fed wants.
        Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by Owlsrayne 2 years, 2 months ago
    We could be looking at an economic crash and money (paper money) will be worthless. Barter and trading services might be the only way for the average citizen to live.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by 2 years, 2 months ago
      Eventually that is a sure thing. But people have to experience the real pain of government currency failure first. It was a poor idea from the start but historically almost universal--also historically universal in failure, just a question of time.
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by term2 2 years, 2 months ago
    Great reset means, IMHO, that we retreat the culture back 150 years in terms of economic life, remove basically all cultural norms and replace them with woke ones and the leftist elites in power.
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo