The Fed and The Politicians – are to blame for low-interest rates and rising inequality – August 30, 2021
So, currently, most countries in the world do not have a Gold Standard, meaning that the very creation of money comes from the laws politicians create, the Federal Reserve in the United States sets the interest rates to align with the policies of the sitting President. The last time the world saw an independent Federal Reserve chairperson was Paul Volcker.
The Ronald Reagan regime could have faired far better had Paul Volcker accommodated Ronald Reagan in the manner, Ben Bernanke, Janet Yellen, and Jerome Powell accommodated the politicians in charge while they were Fed chairs. But for political reasons and to avoid having their names synonymous with a potential great depression, the Federal Reserve chair people decided to prop up asset prices and not only make the rich richer, but also create a whole new group of rich people.
Bitcoin only exists in the manner it does, because the Federal Reserve refuses to lower interest rates? Nobody in their right mind would hold onto Bitcoin if the Federal Reserve NORMALIZED interest rates. It’s important to remember that a lot of people will lose it all if interest rates are ever normalized, the Chinese Communist Party as an example is heavily reliant on zero percent interest rates, as they’re not only U.S dollar dependent, the CCP is also in a lot of debt, try not to forget that the Chinese Communist Party is now very influential in American media.
Furthermore, there are people in the media who are beholden to the political establishment and the political elites and therefore they write crap like the article you can read below by Ben Winck, get used to this crap because it’s not going to stop because more fiat price inflation which is the fuel of poverty is inevitable at this point.
Interesting times ahead!