When debt grows so much that people don’t believe the Treasury will pay it, they sell their bonds and buy other things, sending prices through the roof.
Economist Ernst Wolff believes that a hidden alliance of political and corporate leaders is exploiting the pandemic with the aim of crashing national economies and introducing a global digital currency.
Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.
Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.
The President of the European Central Bank said in a video posted to Twitter that dozens of centralized world banking systems are becoming interested in cryptocurrencies.
Paired with the rollout of related surveillance technologies — digital tracking devices, vaccine passports, brain-machine interfaces and planet-wide 5G — COVID vaccines are a critical component of central bankers’ plan to establish a global control grid.
