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| We're all billionaires in Zimbabwe Dollars |
Donald Trump complained Monday that he was "not thrilled," with the Federal Reserve raising interest rates:
"WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he was 'not thrilled' with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy."
Trump also pined for cheaper money in private remarks to rich mega donors at a fundraiser on Long Island this past Friday.
Fed chairman Jerome Powell and the Federal Open Market Committee has raised interest rates five times so far during Trump’s administration, including two times this year.
At best it's yet more proof– on top of tariffs that have driven up raw steel prices 25 percent and touched off a trade war that has cost American farmers billions in lost business– that the self-styled champion of American labor, the Washington outsider who promised he would drain the swamp and Make America Great Again– is woefully economically illiterate.
At worst it reveals whose interests Donald Trump is really fighting for in Washington– the moneyed elite, who make their vast fortunes off of the free flow of cheap money from the Federal Reserve Bank, and the resulting devaluation of the U.S. dollar that has historically stolen more than 75 percent of the average American workers' earnings through price inflation over their lifetime, and redistributed that wealth to the parasitic banking class.
These numbers are directly from the Fed itself:
Just how low do interest rates have to be for Donald Trump to be happy with how much money the banks are stealing from the rest of America? They're already functionally negative.
Even downstream from the source of new money at the Federal Reserve, the lending divisions of major automobile manufacturers are actually paying people to borrow their money, with $1000 cash rebates on top of zero interest financing of the second biggest expense in most household budgets for five years.
American consumers thoroughly brainwashed by a decades long, sustained campaign of quite deliberate and deft psychological manipulation through marketing, eagerly participate in the madness, seeing these massively depreciating "assets" with shiny paint as status symbols, and believe they have to go into debt to a bank for five years to be esteemed by themselves and I guess people they meet getting out of their car in parking lots.
But you can hardly blame them, as the cheap lending is one of the only ways they can get the money back that's stolen from them when they save or spend it instead of borrowing it.
This insanely artificially low interest rate economy and culture, with its massive currency devaluation has created an economy based on debt and financial slavery, not investment and financial freedom. This is a path many governments and banking systems have taken before, and while it's a longer road for us to travel in America because there's more wealth to steal here, at the end of the road is always hyperinflation and a currency crisis.
As in the Zimbabwe Dollar. As in the Venezuelan BolÃvar. As in the Germany Mark. As in the Hungarian PengÅ‘. As in the Yugoslav Dinar. As in the Greek Euro. And don't think it can't happen in America. As in the stagflation of the 1970s.
The run on the U.S. dollar has already begun.
