By Brandon Smith
In 2021 I published an article titled ‘The Fed’s Catch-22 Taper Is A Weapon, Not A Policy Error’ in which I outlined the deliberately engineered trap the Federal Reserve has created for the American economy. Specifically, I confronted the issue of strangled liquidity through increasing debt costs vs continued money printing and inflation.
It’s an issue that Jerome Powell warned about in 2012, years before he became Fed Chairman; the consequences of creating a stimulus dependent system and then abruptly cutting off the life support. As soon as he was installed as the head of the central bank he implemented the very policies he predicted would cause a crash.
The result? We just saw the beginning of the end with the latest banking crisis involving companies like SVB, First Republic and Credit Suisse – It’s not just US finances, but banks around the world that rely on liquidity injections from the Fed to stay afloat. The central bankers addicted the system to cheap easy debt and now they are taking away the drugs.
In other words, no one can honestly argue that the central banks are ignorant or unaware of the threat. They KNOW what’s about to happen and they do not care. But why does the establishment want a crisis now instead of five years ago, or five years in the future?
Thankfully, much of the public is becoming aware of the various programs to introduce CBDCs (Central Bank Digital Currencies), but what they may not understand is the manner in which such massive economic changes usually happen. Generally speaking, in order to institute a new economic system the banks have to take down the old system.
The last time we saw this happen was just after the Great Depression and WWII. The deflationary crash and the war conjured the proper amount of global chaos and before the dust settled western nations instituted the Bretton Woods agreement in 1944, making the dollar the defacto world reserve currency while locking down the price of gold.. Then they established the globalist International Monetary Fund (IMF) the same year and the United Nations in 1945. The world was centralized dramatically in a little over a decade.
I believe we are fast approaching another engineered singularity, a controlled demolition of existing systems to make way for a cashless society, a one world currency and global governance. I believe this because it’s all the globalists can talk about these days; it’s not as if they’re trying to hide it anymore.
The BIS and IMF are actively fielding one-world digital currency mechanisms right now; structures that would combine all national CBDCs under one umbrella. In the meantime, globalist think-tanks like the WEF (World Economic Forum) are ranting excessively about the coming era of an AI controlled economy and a “4th Industrial Revolution” in which you will “own nothing, have no privacy” and will be forced to adapt to a cashless socialist sharing system.
All they need is a scapegoat to complete their crisis formula. War seems to work well in distracting the masses from the true culprits behind any financial calamity, and numerous institutions are hard at work to convince the public that countries like Russia are to blame for ongoing stagflation problems. Of course, the stagflation crisis started well before the war in Ukraine and many Americans are not buying the spin.
China, a dedicated partner to the globalist project, has shown consistent fealty to the IMF and is a key player in the move towards a one-world currency system. Because they are the largest importer/exporter on the planet and have considerable leverage over the US dollar, they have the ability to strike the final blow against the dollar’s world reserve status. A heightened conflict with China would be a perfect cover for the dumping of the Greenback, making way for the IMF’s new global currency, called the UMU (Universal Monetary Unit).
However, foreign conflagrations will not be enough for the establishment to keep the American public from scrutinizing the narrative. They need a domestic enemy, a frightening threat that lives right next door. That is to say, they need to find a way to blame conservatives and liberty activists for the impending crash that they caused.
Keep in mind that the Biden Administration and the leftist media have been pumping out propaganda asserting that all our fiscal problems including our national debt are somehow rooted in conservative policies. This is nonsense.
At bottom, the majority of our economic threats can be traced directly back to the Federal Reserve as well as large international banks, and these institutions enact policy REGARDLESS of the political party that is in control of the government. But, if we’re going to talk about the political group that has most helped the central bankers set the calamity in motion, the Democrats win the prize.
It was Barack Obama and Joe Biden that doubled the US national debt from $10 trillion to $20 trillion in the span of 8 years. Trump didn’t help matters and did not institute spending cuts at the level he should have, but the bulk of his debt contributions occurred because of the covid response. There are a number of issues to criticize Trump for, including the kinds of people he brought into his cabinet, but the current economic chaos is not rooted in anything Trump did.
It was the Biden White House that pressed for covid lockdown policies to stay in place for years when they should have been ended within months as soon as it became clear the covid virus was a non-threat to 99.8% of the population. Biden and the Democrats made it impossible for the country to continue functioning without trillions in covid helicopter money, and it was those fiat measures that finally broke the camel’s back. Prices on everything skyrocketed under Biden, not Trump.
The majority of our national debt problems were piled up during the reign of Democrats, and they CONTINUE to demand trillions more in spending without conditions. This brings us to the debt ceiling.
In the past, the debt ceiling debate has been a predictable farce. Republicans demand cuts, they haggle with the Democrats who want a blank check, nothing is ever really resolved and the debt ceiling gets raised yet again with no noticeable reductions in spending. The government keeps stealing from the American public at an exponential rate while also triggering more inflation.
It’s a Catch-22 for conservatives. No one in the mainstream criticizes the Democrats for wanting to spend more because most people don’t understand how inflation works. All the Dems have to do is agree to reasonable budget cuts, but they refuse. When they don’t allow cuts, the Republicans are forced to either cave in, which makes them look weak, or, they’re forced to stand their ground and be accused of reckless disregard for American debt obligations.
Democrats claim that ANY cuts to the budget will lead to economic crisis. They have no intention of negotiating to reduce US debt. They don’t have to – All the blame falls on conservatives regardless.
To be sure, there are multiple Neocon politicians that support the Democrats at every turn, but there are also some Republicans trying to pull the country back from the brink. We should give these people credit. It’s easy to accuse all political participants of being part of the “false left/right paradigm,”, and maybe that was true ten years ago, but now I suspect this mantra is being exploited to divide conservatives and liberty proponents from any alliances at the government level.
The leftist argument on the debt ceiling is essentially this: “We must keep spending more to fix the problems created by spending too much.”
It’s a circular con job. Pursuing budget cuts is portrayed as an act of terrorism by the corporate media. Saving taxpayer money is considered evil, and conservatives who entertain the notion are painted as insurrectionists. Why is no one criticizing the Democrats and their all-or-nothing philosophy? After all, budget cuts can be made while ALSO paying off the national debt, right?
The tactic makes sense if you look at it from a villain’s perspective. All the Democrats have to do is not allow any cuts and continue to demand more spending without conditions. Then, when the contingent of Republicans in Congress that actually care about fiscal responsibility refuses to back down, the White House, the media and the majority of leftists initiate a propaganda wave; an artificial outcry suggesting that “radical” conservatives are destroying the economy.
If the conservatives give in, then the public blames them for bowing to the “Uniparty.” If they don’t give in, the establishment wraps up the stagflationary collapse and lays it right in our laps. They may try to force the issue of a debt ceiling impasse just to hide the crash that is happening anyway.
Or, maybe not. Maybe this time is like all the other times and Republicans will back down yet again and the ceiling is raised by another couple trillion dollars. The talking points I’m seeing in the media and on social media, though, suggest to me that something very strange is about to happen in the debt fight. If it goes down the way I suspect, then it will be vitally important to disrupt the narrative.
The economy is crashing for a lot of reasons and none of them have anything to do with the government trying to spend less.
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I paid off my home loan yesterday. I can still pay the bills until inflation gets worse but we will all suffer before this is over. Keep your friends close and stay away from your enemies.
Actually we should just manifest the life of Jesus until we are martyred and go to a MUCH better place!:
1 Corinthians 2:9 but as it is written, Things which eye saw not, and ear heard not, And which entered not into the heart of man, Whatsoever things God prepared for them that love him.
We are already in the 2nd year of the last 7 years of tribulation!:
Concerning The Debt Bomb: The debt bomb really started during the early 1980s (cf Reagan/british PM Thatcher) and involved borrowing and spending not just by the government but also by households and corporations. The situation got worse in 90’s(Clinton Administration and british PM Blair; also, REMEMBER the end of “Glass/Stegal act” with main characters like Rubin, Summers and Greenspan).
Of course, I don’t forget the “Nixon’s DECISION” in 1971(August 15, date of the end of the USD/gold convertibility).
Since then, the damage done to the United States economy – and not only! – are irreversible.
This clip remains relevant:
“The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes.” – Abraham Lincoln
“I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe.” – Abraham Lincoln
It took decades for the national debt to reach $10 trillion, Obama doubled it in 8 years – I would say the real trigger was the Obama era. Reagan actually instituted the first analysis of Federal Reserve Debt creation and spending. That was before he got shot.
Amen. When your VP has you shot by his CIA friends, it tends to shut you up!
True regarding Reagan, but Brandon, you’re looking at an exponential debt curve and treating it as linear.
The debt has been doubling roughly every 8 years. That happened under Obama, under Bush before him, and so on. It was even on pace to roughly double again under Trump… whom I’m shocked to see you try to defend.
The great Orange Hype has served his deep state purpose well, keeping Patriots on the sidelines while they “Finish the Job”.
No, it’s not an exponential curve, it’s a hockey stick if you look at in reference to pre-2008. Also, I’ll always point out which politicians are culpable for which disastrous policies, and Trump had nothing to do with the national debt spike, he walked into the middle of a stimulus spiral created by the Fed and Obama/Biden. Trump had other issues (globalists in his cabinet) and you are conflating them all together with the debt issue, which is unrelated. It’s important to not get caught up in the mindless simplicity of the “false left/right paradigm” mantra; it makes us look foolish. We have to give credit where credit is specifically due, and point out specific crimes for specific criminals.
Thank you for these details and reminders.
Excellent article, Brandon.
Do you think the psychopaths are trying to goad the liberty into a shooting war because they, in their hubris, think they will win? Or that they need a huge domestic hot civil war to cover for the mammoth change to the financial system?
“I believe we are fast approaching another engineered singularity, a controlled demolition of existing systems to make way for a cashless society, a one world currency and global governance.”
We have been operating ‘Cashless’ for a good long time now. Not cashless in the sense of not having pieces of paper around with special ink printed on them, but cashless in the sense that the ‘money’ in circulation actually represents vapor conjured out of thin air. That sounds a bit ‘cashless’ right there, doesn’t it?
And we’ve actually had full Global Governance for a good while now. Sure, they keep boundaries draw on maps and allow silly posers to sit as various State leaders… but they all take orders from someone high above them who have been pulling World strings for a long time.
What is different is that They the Hidden Ones are tired of pretending with us riff-raff with these pleasant structural fantasies and so are just dispensing with that while bringing the hammer down on our heads. You know… Orwell’s famous Boot.
We have a Government Of, By, and For the People, right? Where on those maps is THAT?
Believe it or not, around 30%-40% of Americans still prefer to use cash in daily transactions. Also, I’m not so sure that many state leaders are controlled, at least not these days. The amount of resistance we have seen to the agenda in red states has been surprising. The globalists WANT us to think their plan is inevitable, but it truth, they are terrified that too many people are waking up.
Brandon, what happens when Government outlaws physical cash and things like Bitcoin? With a slim Red lead in the House that’s not likely to happen right now. But if enough RINOs side with the Dems and outlaw these other forms of payment… then what? They would have make at least half the Country who favors Cash Freedom into outlaws with the enacting of one ‘Law’.
Outlawing physical cash would be impossible. They would have to have a dollar crash that makes the currency useless, and then bring in the CBDCs because people are desperate. I have always considered Bitcoin to be a psyop and I really don’t care what happens to it; it’s just a beta test for CBDCs. Many red states are considering alternative currency systems based on precious metals to help counter CBDCs and the hope is that they continue with those programs. My guess is that the bankers have no chance unless they create a massive currency crisis, and even then I doubt they will get the kind of compliance they want from Americans on CBDCs.
One more question, please. What if Gov mandates monthly payments like Social Security and food assistance and the like to be issued digitally-only… with the stipulation (laws) to banks, etc. that these payments would not be convertible to cash under penalty of ‘law’? This way they begin to sneak in the digital system without fully going after the entire system right away. Seniors and others rely on those payments to survive each month and they would be a captive audience. Possible?
Dollar crash on deck!!
Bingo! It’s the currency. We know how much artificial value has been sucked from the dollar since 1913, and now the bankers want that last bit. We’re at the endgame, and a wheelbarrow full of FedBux is heading to the dumpster.
Endure a month or two in that world. We’ll be happy to get some digital cash to spend at the food distribution center. All on a temporary emergency basis, of course.
Hi Brandon, thank you for this article. “The talking points I’m seeing in the media and on social media, though, suggest to me that something very strange is about to happen in the debt fight. If it goes down the way I suspect, then it will be vitally important to disrupt the narrative.” As the saying goes A pessimist is a critical optimist….
BRICS Nations working on “Fundamentally New Currency” https://bibliotecapleyades.net/sociopolitica2/sociopol_brics43.htm
Most people are so brainwashed into the “government authority” myth that they will be useless,or worse, fight against themselves by trying to stop those fighting to stop tyranny.
We probably should start by getting the victims to drop the false belief in “authority” and return it to themselves. Then, at least, they would have something to fight for.
I remember growing up in the 60’s where people who paid in cash were considered honest and trustworthy. Today that script has flipped. Try buying a $1400 HDTV at Best Buy and whipping out 15 $100 bills. Expect a mgr, supervisor or someone from asset protection to pay a visit.
We have been conditioned over the last several decades to abandon cash as a society and pay by electronic means. Today it is standard for credit card companies to offer rewards points which can get converted to either gifts or cashback by paying with a credit card.
Then there’s Apple Pay, Google Pay, Android Pay, Walmart Pay and the list goes on. Some in the alternative media have even suggested that Bitcoin was a government Psyop to get the Plebs hooked on digital currency. I agree with Brandon’s take that it took time but the Fed blowing up the economy and the reserve currency was part of the plan for the IMF SDR. This is now morphing into CBDC for a more local and regional approach.
If this becomes a reality which the CB’s hope it does, say good bye to freedoms. The government will have near 100% control over citizens lives.
Catherine Austin Fitts has been encouraging “Cash Friday” where every Friday you use only cash. She also has been warning about CDBC’s for the last several years as well.
America’s empire is bankrupt
In my experience (Australia) only a single digit percentage of the public are aware of CDBCs.
That’s strange since Australia is already openly putting a CBDC into circulation.
There is a parliamentary bill in progress, but the average person is largely unaware. Retail banks are working with the central bank on CBDC, but nothing concrete.
–Strange, I would think commercial banks would be pushing back the most. Not sure where they have a role once UBI and CBDC are fully implemented. To be fair I haven’t heard much out of the likes of mega banks like Chase, Goldman, etc. Like I said would bet the farm they will be the first ones with no further purpose.
–Then you have investment firms like Fidelity, Etrade, Morgan Stanley, etc. Wondering where they would fit into the picture or NOT fit?…….might be our best allies?
–Not sure if Brandon will see this but wondering if you have any thoughts? I hadn’t really given it much consideration until I saw this comment.
Your article mentions CBDC’s but does not mention Bitcoin or any other crypto currency. What is your opinion on bitcoin in relation to CBDC’s?
–Everyone here better damn well know the sales pitch that is coming by now. “We have to use CBDC for equity and inclusion for all people. The only people who do not want it are white men who don’t want fairness. This is the only way to get a hold of climate change…..YADA YADA YADA.”
–I believe Globohomo and the neocons have lost. WAIT! I have not said they we have won. Whatever happens if that CBDC (national level initially) gets conscripted we have lost. We CANNOT let it get to that point under any circumstances.
–Tactics such as blue collar strikes, bank withdrawals, and civil unrest are all in the cards. The first 2 will be most effective IMO. We used to say they are allowing migration to replace us. That was semi true but its at a whole new level of urgency now. I firmly believe they have opened the floodgates for 2 reasons.
-1. To replace the culture in blue collar professions. TPTB are extremely concerned right now that a large percentage of the American workforce might “shrug.” They are racing against the clock knowing at some point even the normies will see them for the totalitarians POS’s they are. We should keep that in mind before changes are made in large swaths in the demographic of peoples that do the heavy lifting. This could possibly happen in 2024 if the cheating is off the charts ridiculous (MAYBE).
-2. Balkanization should the country take a nasty turn for the worst. In fact, it does seem like they have been planning for it. The more cultures fighting against each other the less likelihood one springs forward and grabs onto the reigns of power. The better chance those who make it through beg TPTB for a solution.
–I think this plan we are seeing play out was done with the assumption either both China and/or Russia would be finished. I don’t believe either could stand against the West on their own. I HOPE I am correct about this. TPTB are a combination of being extremely shrewd to lost in their own concocted reality. There’s simply really know way to know how this will play out until it does.
–I have to say I have always been a US Patriot. I still love the idea that was America but this isn’t it. We are led by a bunch of very nasty characters that belong in the worst of history column. I think its really going to come down to how we respond together as a Liberty Minded Movement once things spiral out.
–Here’s a great read Brandon and Co. As long as things don’t get too crazy too fast this is most likely what awaits. I have asked the author (he might be Russian) to compare the collapse of the USSR and Yugoslavia. Am curious to see what the US might look like in those scenarios. If you have time this is a fantastic read.
Hey Luke, you’re right. That was a great read. Thanks for posting the link.
You are welcome. That guy is phenomenal. I have never seen writing so meticulous. The detail and sourcing are incredible. Most of it centers around the War Effort currently underway. Very humble and intelligent guy it seems; especially when it comes to critical thinking and connecting the dots. I am a paid member of about 5 sites. He is one and Alt Market is another.
In case anyone has missed this, the IMF is going full throttle with CBDC’s. They categorize them as “wholesale and retail” CBDC’s and of course the US is now exploring the idea of CBDC’s….shocker!
Expect hackers to get all lathered up at the thought of hacking into financial institutions and personal accounts.
“We Don’t Quite Know” About The Consequences Of Retail CBDCs: IMF Chief Admits