Did anyone really wonder why Biden nominated an actual, factual communist to the Fed?
One of Saule Omarova’s academic ideas was to eliminate private bank accounts and make all individuals’ bank accounts part of the Federal Reserve.
But why? Why now?
If you pay attention to the PsyOps campaign being waged against Americans, they will tell you.
COVID has driven Americans to bank $1.6 TRILLION in ‘excess savings’ they stashed over fear of economic chaos: Experts warn value of rainy day money is being slashed by surging inflation
The COVID-19 pandemic has driven Americans to hoard $1.6 trillion in ‘excess savings’ amidst ongoing fears of an economic crisis, despite the fact that experts are warning that the value of these rainy day funds are being slashed by surging inflation rates.
American households would not have put away the huge sum had the COVID-19 crisis not changed the world over the last two years, according to the Federal Reserve Bank of New York.
The funds are far more than the usual three to six months of emergency savings financial advisors typically recommend.
But they forsee more cash stockpiling in the immediate future, with the Omicron variant likely to trigger Americans to save yet more of their cash over fears of possible future chaos.
In reality, economists say hoarding one’s savings can actually hurt a persons’ long-term finances if inflation continues to increase, while causing bigger issues for the economy, of which consumer spending accounts for over two-thirds of its gross domestic product, the Wall Street Journal reports.
Do you get it now?
See, you provincial knuckle draggers have been holding your money. You see black clouds on the horizon and you want to make sure you are prepared for a rainy day.
But the economy, i.e., the big banks and megacorporations, don’t make money when you horde yours.
Your small-minded way of thinking about financial security it hurting them.
So the logical conclusion is: if you won’t spend your money, the government will spend it for you.
But printing money only inflates it, and at some point even the super wealthy will get bit by inflation.
When gas hits $10 per gallon, sure you can’t drive to work, but millionaires are not gonna want to fill of their yachts when it costs $10,000 to go on a weekend cruise.
Eventually, they will stop the money printing just to preserve the value of their millions and billions.
The only logical conclusion is they are going to have to seize your “excess savings” and put that money back into circulation.
If your money is in a private bank account, that’s gonna be tough.
If it’s in a Fed account, it’s their money.
They will decide just how much savings you should have based upon some arbitrary set of standards (your assets, how many kids you have, etc.) and spend the rest of your money for you for “the benefit of the economy” (i.e., their offshore bank accounts).
I’m putting the marker down today.
Some Democrat politician soon will start talking about how your savings are hurting the economy and how they are going to have to do something about those “greedy” people “hoarding their money.”
It’s coming.
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