Federal Reserve Chairman Jerome Powell spoke on Tuesday and said that the central bank cannot end emergency measures too soon and again called on Congress to pass additional fiscal stimulus.
The illusion since they are all debasing together), the dollar’s value vs hard assets (gold) has plunged. It all decoupled when The Fed went all-in after the Dec 2018 stock market crash..
This will lead to devaluation of currencies, that hard assets … will increase in value in currency terms. I’m not sure I’m gonna call this inflation, but it’ll look like and feel like inflation.”
Inflation is the elephant in the living room that nobody wants to acknowledge that they see. But it’s there. It’s staring us in the face. And it’s going to become more and more obvious as 2021 really begins to play out.”
In recent times, the scams created have become both more complex and more profitable and have been played on a grander scale. Taxation, debt creation and inflation have become key techniques in extracting wealth from people on a wholesale basis, generally without those people understanding that they are essentially milk cows waiting for Farmer Dimon or Farmer Powell to come out to the barn with the milk pail.
But what will never return is the way that we once looked at money. This coronavirus was the final blow to our collective notion of money as something real. After agonizing for years about multi-hundred billion-dollar deficits, America’s Treasury more or less borrowed $3 trillion from our central bank. We gave that money to ourselves.
And while no one knows precisely what will happen, we can be quite sure that governments will disburse funds to citizens quickly. Digitally. And we can be certain that a dollar in a decade’s time will be worth a fraction of what it’s worth today.