They Have Lost Control, And Now The Dollar Is Going To Die
Francesco Abbruzzino, The Uncensored Report, LLC
I think that they actually believed that they could get away with it. I think that they were actually convinced that they could create, borrow and spend trillions upon trillions of dollars without any serious long-term consequences. But they should have known better. The people running things are very highly “educated”, and after spending decades getting to their current positions they are supposed to be “experts” that we can trust with very difficult decisions. Unfortunately, the “experts” have put us on a path that leads to currency collapse and financial ruin.
All throughout history, there have been many governments that have given in to the temptation to create money at an exponential rate, and it has ended badly every single time.
So our leaders should have known better.
But it is just so tempting, because pumping out money like crazy always seems to work out just great at first. For example, when the Weimar Republic first started wildly creating money it created an economic boom, but we all know how that experiment turned out in the end.
This week, the mainstream media is full of talk about inflation, and many of the talking heads seem mystified that things have gotten so bad. But anyone with half a brain should have been able to see that this was coming. Just look at what has been happening to M2 since the start of the pandemic.
What we have been doing to the money supply is complete and utter lunacy, and this is inevitably going to kill the U.S. dollar eventually.
Next, I would like for you to take a look at how rapidly the Fed balance sheet has been rising. This is the sort of thing that you would expect to see in a banana republic.
I think that our leaders deceived themselves into thinking that they could get away with creating money so recklessly, but they haven’t.
Very painful inflation is here, and on Wednesday we learned that prices have been rising at the fastest pace in more than 30 years…
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. That compared with the 5.9% Dow Jones estimate.
On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.
If inflation continues to rise at about 1 percent a month, it won’t be too long before we are well into double digits on a yearly basis.
Of course I don’t actually put too much faith in the inflation numbers that the government gives us, because the way inflation is calculated has been changed more than two dozen times since 1980.
And every time the definition of inflation has been changed, the goal has been to make inflation appear to be lower.