Terrible Predictions, End the Fed, and Capitalism
Keith Weinhold interviews Tom DiLorenzo on the Get Rich Education podcast.
Keith Weinhold interviews Tom DiLorenzo on the Get Rich Education podcast.
What if we could have eavesdropped on a conversation between Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen? It might have gone as follows....
Home prices continue to rise as the government tries to further intervene into the housing markets, all in the name of the “American Dream.” However, remember that these massive increases in housing prices began when the government decided to make housing more “affordable.”
As monetary authorities continue to inflate the money supply, they inflict more and more damage upon the currency. Unfortunately, as the economy falters under the inflationary regime, the “solution” always is to ramp up inflation.
Tom Luongo explains the different factions among bankers, including rivalries between New York and San Francisco, and the US versus Europe.
Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.
Watching the Federal Reserve's inflationary “strategy” of enacting repeated “stimulus” and creating asset bubbles, one is reminded of the “Cargo Cult” in the South Pacific after the end of World War II.
The Fed is desperate for you to think that "this time is different." Unfortunately, Powell can't seem to come up with an explanation of why that is the case.
The Fed’s specialty is propaganda through data, with a long record of failure. This is by design. Their communication tools must work in overtime, particularly in the face of a decision like this, to avoid “spooking markets”, though this veneer is easy to see through.
Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and how this system undermines economies. Thus, it is important to demystify these systems.