“We’re Heading To Complete Financial, Moral, & Political Collapse”

By Author1 –

Zero Hedge: This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note.  We don’t know how long the Fed’s had this note posted to its website.  But we can’t recall ever seeing it.  The note reads as follows:

“THE FEDERAL RESERVE’S BALANCE SHEET HAS EXPANDED AND CONTRACTED OVER TIME.  DURING THE 2007-08 FINANCIAL CRISIS AND SUBSEQUENT RECESSION, TOTAL ASSETS INCREASED SIGNIFICANTLY FROM $870 BILLION IN AUGUST 2007 TO $4.5 TRILLION IN EARLY 2015.  THEN, REFLECTING THE FOMC’S BALANCE SHEET NORMALIZATION PROGRAM THAT TOOK PLACE BETWEEN OCTOBER 2017 AND AUGUST 2019, TOTAL ASSETS DECLINED TO UNDER $3.8 TRILLION.  BEGINNING IN SEPTEMBER 2019, TOTAL ASSETS STARTED TO INCREASE.”

Quite frankly, the Fed’s balance sheet chart, and the extreme dollar debasement that it illustrates, is a disgrace.  The fact that the Fed had to add this flagrantly false note as preface to its disgraceful chart is an insult. Read More …

Opinion: It began in 1971 when the Nixon administration enacted a plan that ended dollar convertibility to gold, creating fiat money, meaning it has no intrinsic value. Sound as a dollar is no more.

The ‘cleanest shirt in the dirty laundry bag‘ analogy says it best: the rest of the world economies are a bigger mess than the US.

The Federal Reserve began quantitative easing in 2009. Fiat money was printed to bail out banks that held tens of billions of toxic mortgage bonds created by the Federal government after they pressured banks to lend to very high risk borrowers to buy houses……more here

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