Here's an interesting juxtaposition of quotes from the head of the Federal Reserve Bank of Minneapolis.
The first is from last night's episode of 60 Minutes:
"You don't need to. Your ATM is safe. Your banks are safe. There's enough cash in the financial system and there's an infinite amount of cash at the Federal Reserve. We will do whatever we need to do to make sure that there's enough cash in the banking system."
And from last month at an event hosted by the Bureau of Business and Economic Research in Kalispell Montana:
"The Bitcoin and cryptocurrency, it's basically like a giant garbage dumpster. The reason that the dollar has value is because the US government has a legal monopoly on producing the dollar. If you go into your basement and start photocopying your dollar bills, the Secret Service will come and knock on your door and arrest you. Only the US government has the authority to produce dollars. That scarcity is in part what makes them valuable."
The inconsistency of Neel's comments shouldn't really be that surprising if you've been paying attention. The Federal Reserve has been engaged in a con game that is not anchored in reality for well over a century. They have been playing mind games with the public via policy moves and off the cuff statements for quite some time. At the end of the day, these unelected officials exist to serve the elite and exert control over the masses via control of the most important tool on Earth; money.
As you can see from Neel's comments in Minneapolis last month, they do not hide this fact. Only the government has the ability to produce dollars, and they will use violence to protect that power. Unfortunately for them, their scam is unraveling at an insane pace. Confusion reigns supreme and those in controls of the monetary levers can't even keep their story straight anymore. They are ultimately protecting a mirage at the end of the day. If the Fed truly does have "an infinite amount of cash" then the dollar is worthless. The "scarcity that makes them valuable" and is protected by the government's ability to produce them (via the Fed, very Orwellian wordplay and misdirection at play in this quote) does not exist anymore. Last night, Neel Kashkari went on national television and ended the con game.
The jig is up. The cards have been laid bare. The Fed has admitted that the money they control is worthless in the long run. It is INFINITE. It needs to be because of all of the debt we've accrued. And that is the only way they can keep the system afloat. More printing. INFINITE cash. And make no mistake, Neel and his ilk don't give a shit about you. Their infinite money printing isn't for the benefit of your average American. It's to keep those in power afloat. To eliminate the risk of the market ever playing its course and punishing powerful people for bad risks they've taken.
"But Uncle Marty, they do care about us plebs, they're printing money to keep the economy afloat for the little guy." Don't believe me? Peep what they snuck through in their latest policy move.
Again, it's time to leave these people behind. Each individual reading this rag needs to look within and ask how you can better your own life, get yourself on stable footing, and help your community out from there. The flailing institutions which people have relied on for too long are not going to fix this problem. The government is not going to solve this problem. The Fed certainly isn't going to solve this problem. Only a collection of individuals making individual decisions to walk away from this madness can fix the problem.
This is why we Bitcoin. It provides an avenue by which we can build a system completely separated from our incumbent system. It allows us to opt-out and build without any hinderance from "authorities". Bitcoin isn't a panacea, but it is a good start and emblematic of the value of open-source systems which NEED to become more prevalent.
Walk away. Don't let fear control you. You'll be surprised by the positive externalities that will arise from taking control of your life.
Cold rain is the worst weather.