PREPARE MARTIAL LAW PLANS FOR COMING COLLAPSE? DOLLAR COLLAPSE? GET YOUR PASSPORTS!?
by AMY S.
PrepperFortress.com
JULY 16, 2016
President Barack Obama and Federal Reserve Chair Janet Yellen discussed risks to the economy and progress from Wall Street reform during a rare meeting in the Oval Office on Monday, the White House said.
“They discussed both the near and long-term growth outlook, the state of the labor market, inequality, and potential risks to the economy, both in the United States and globally,” the White House said in a statement about the meeting.
“They also discussed the significant progress that has been made through the continued implementation of Wall Street Reform to strengthen our financial system and protect consumers.” Last week, United States President Barack Obama sat down with Federal Reserve Chair Janet Yellen. What did they talk about? Was there more talk of the central bank imposing policies that favor the current administration or the Democrats?
It was reported that the most powerful people in the U.S. today mostly talked about the outlook of the nation’s economy, but not about interest rates. According to an official statement, Obama, Yellen and Vice President Joe Biden “exchanged notes.” The president did that he was pleased with Yellen’s Fed thus far. The current consensus right now is that the central bank will increase interest rates two more times this year. However, the level of confidence has waned in recent weeks, according to the polls.
From 2011 (Jackson Hole) to 2015 (end QE3) everything was awesome for The Fed’s ‘trickle-down optimism’ plan. As stocks rose so consumer confidence lurched higher as the artfice of equity market ‘wealth’ smoke-and-mirror-ed the population to believe that even if stuff wasn’t awesome now, it soon would be.
Even as Yellen admits that the Fed “has not taken negative interest rates off the table,” she and other Fed officials are still promising to raise rates this year. The Federal Reserve needs to promise future rate increases in order to stop nervous investors from fleeing US markets and challenging the dollar’s reserve currency status.
They increasing the federal government’s cost of borrowing, an interest rate increase will also make it harder for the federal government to manage its debt. Increased costs of debt financing will place increased burden on the American people and could be the last straw that finally pushes the federal government into a Greek-style financial crisis.
The no-win situation the Fed finds itself in is a sign that we are reaching the inevitable collapse of the fiat currency system. Unless immediate steps are taken to manage the transition, this collapse could usher in an economic catastrophe dwarfing the Great Depression. Therefore, those of us who know the truth must redouble our efforts to spread the ideas of liberty.
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