Powell Admits The Fed Doesn’t Know What It’s Doing

It’s rare, but politicians and central bankers sometimes (accidentally) tell the truth. This week, Jerome Powell claimed The Fed, which unconstitutionally counterfeits trillions of dollars, has little understanding about inflation. They’re apparently ‘surprised’ that counterfeiting trillions caused prices to skyrocket. Central planning always fails. We desperately need to use sound money again. EMBED A VIDEO …[continue reading]

Exclusive: Russia’s Sergey Glazyev introduces the new global financial system

The world’s new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources. And it will liberate the Global South from both western debt and IMF-induced austerity. By Pepe Escobar April 14 2022 Leading Russian economist Sergey Glazyev says a complete overhaul of the western-dominated …[continue reading]

Report: Fed’s Secret Repo Loans to Megabanks in 2020 Eclipsed 2008 Bailouts, Data Dump Shows $48 Trillion in Stealth Funding

Following the controversial bank bailouts and Troubled Asset Relief Program (TARP) in 2008, reports show in late 2019 and 2020, the U.S. Federal Reserve participated in providing trillions of dollars in secret repo loans to megabanks. At the end of March, investigative journalists, Pam and Russ Martens from Wall Street on Parade, uncovered $3.84 trillion …[continue reading]

ECASH & Biden’s Attack on the Financial Markets

I reported on the Private Blog that I had a copy of the legislation and I was told it would be introduced today – Monday 28th. That info was correct. Well, here it is!. Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.), and Rashida Tlaib (D-Mich.), all Democrats, have introduced the “Electronic …[continue reading]

WEF plan to decentralize finance and transform business services

How decentralized finance will transform business financial services – especially for SMEs For smaller businesses in developing markets, decentralized finance offers a more suitable system than traditional banking Decentralized finance (DeFi) is emerging as a tool for smaller businesses in developing markets, particularly for remittances and small loans; The transaction banking industry is beginning to …[continue reading]

How the banking system works

According to Richard Werner, banks do not make loans and they don’t take deposits. During what we think is a loan process, the customer issues a promissory note (IOU) and the bank buys it from the customer. But the bank does not actually give the customer money. To see what is happening, we must switch …[continue reading]