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Issue #1215: The central bankers are filled with nervous laughter

Issue #1215: The central bankers are filled with nervous laughter

May 25, 2022
Marty's Ƀent

Issue #1215: The central bankers are filled with nervous laughter

"It will come. It will come. In due course."

"How?"

"In due course. It will come."

Christine Legarde, President of the European Central Bank, shared these words of reassurance during a recorded town hall meeting in regards to a question about when the ECB would begin to unwind the massive expansion of its monetary base, which has increased to over $8 TRILLION euros in the aftermath of the economic lockdowns that began in the Spring of 2020. While many bitcoiners are using this clip as an opportunity to highlight the fact that convicted criminal Christine Legarde seems to be intimidated by the threat of bitcoin supplanting the euro and every other form of fiat currency as the dominant monetary good used by humans, I think what's even more telling is the visible fear and nervousness when pressed on the ECB's policies. Talk about body language tells. Nothing says "Don't worry, everything is under control." like a nervous smile couples with a complete non-answer.

The reality of the situation is that the ECB, the Fed, and every other central bank around the world who has been riding the fiat gravy train for decades are out of moves. They can no longer kick the can down the road as the reality of stagflation throughout the Western world becomes more and more obvious by the day. All of the central banks will have to inevitably turn the money printers back on by the Fall, and do so as the supply chains for energy and food seem primed to reach critical stress points. At which point, the only effect turning the money printers back on will have is potentially saving equities and real estate while simultaneously exacerbating the rampant inflation sweeping the globe.

I believe humanity will look back at 2022 as the year of the collapse in confidence in central banks. Markets are tanking. Inflation is skyrocketing. People are struggling to fill their gas tanks and put food on the table. And many (who do not understand the crux of the problem) are looking to the likes of Christine Lagarde to fix the problem (as if they could). When these central bank heads are forced to reverse course and their actions only exacerbate the problems due to the fact that one cannot make food and fuel materialize out of thin air with any amount of money printing I believe we will witness a very quick and strong backlash against the money changers.

In the last decade and a half the central bankers have proven to be completely incompetent. Christine Lagarde's "In due time. It will come." will join the ranks of egregious and idiotic statements made by the likes of Ben Bernanke, Mario Draghi and Neel Kashkari.

Subprime wasn't contained. The euro has fallen 13% against the dollar since July 26th, 2012 when Draghi gave that speech. And that infinite cash has helped drive the prices of everything up to historic levels.

"It will come. In due time." will be remembered because it won't come. Structurally, it can never come due to the amount of debt that has been accrued in the interconnected system. The only thing that will come is the demise of the central banks as those inside and outside the West completely lose faith in these academic economists who have proven to be woefully wrong time and time again. It may seem like a scary prospect, but nothing could be better for the long-term economic stability of humanity. The only way we can fix our problem is by ridding ourselves of the people causing it; the money changers. Luckily for us, they have collectively been destroying their reputations in a very public manor since the lead up to the Great Financial Crisis of 2008.

The receipts are out there. They are becoming impossible to ignore.


Final thought...

Lost power for 12-hours after a storm blew through town last night. The quiet of a house with no sound hits different.


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