Unprecedented Monetary Overhaul (Part 2): Cashless Society Comes into View

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Zero Hedge: In short, ever since the Fed launched QE and NIRP, it has been making the situation it has been trying to “fix” even worse while blowing the biggest asset price bubble in history.

And having recently accepted that its preferred stimulus pathway has failed to boost the broader economy, the blame has fallen on how monetary policy is intermediated, specifically the way the Fed creates excess reserves which end up at commercial banks instead of “tricking down” all the way to the consumer level.

To be sure, in the aftermath of the covid pandemic shutdowns the Fed has tried to short-circuit this process, and in conjunction with the Treasury it has launched “helicopter money” which has resulted in a direct transfer of funds to US corporations via PPP loans, as well as to end consumers via the emergency $600 weekly unemployment benefits which however are set to expire unless renewed by Congress as explained last week, as Democrats and Republicans feud over which fiscal stimulus will be implemented next.

And yet, the lament is that even as the economy was desperately in need of a massive liquidity tsunami, the funds created by the Fed and Treasury (now that the US operates under a quasi-MMT regime) did not make their way to those who need them the most: end consumers. Read More …

Opinion: Modern monetary theory (MMT) is a big departure from conventional economic theory. It proposes governments that control their own currency can spend freely, as they can always create more money to pay off debts in their own currency.

Spend and Print – Rinse, Repeat

All roads lead to prophecy – Possible scenario:

Revelation 6:5-6

  • A sudden drop in the world’s lone reserve currency sends inflation soaring, as food prices skyrocket emptying store shelves.
  • Panic spreads around the world as the euro, yen and yuan rise
  • The Federal Reserve activates the plunge protection team in an attempt to stabilize global markets
  • The president of the United states goes on live TV to calm a rattled public as all cash and gold transactions become illegal
  • Markets continue to drop as the 1% head to well stocked lavish bunkers with state of the art security in remote areas to wait out the panic

Revelation 13:16-17

  • A prominent leader of the European Union Commission who had been gaining global notoriety goes on TV to reassure all 27 nations that a new economic plan has been developed for such a time as this.
  • The plan to restructure the EU into 10 divisions, each with its own president while enforcing strict price controls that will better suit the global economy, is carefully laid out
  • Markets in Europe stabilize
  • A grateful public lines up to receive a mark of loyalty to the new plan

Revelation 18:1-11

  • Six and one half years later the plan fails
  • The now immensely powerful world leader, headquartered in Iraq (Babylon), loses control of the economic system as the 1% morns
  • As the 7 year tribulation comes to an end, the return of Messiah Jesus is near

See Part 1 here

See our paper “The 1% and Revelation: Do Not Harm the Oil and Wine” here

Thanks to VS for contributing to this post.