Federal Reserve Floats Idea to Create New Cryptocurrency Controlled by the Government
The U.S Federal Reserve, the central bank that has overseen massive inflation of the dollar since its inception in 1913, is thinking of dabbling in cryptocurrency.
The Fed issued a preview of a report on Thursday in which they discussed the idea of creating a cryptocurrency of their own, weighing the pros and cons of such an deavor.
“We look forward to engaging with the public, elected representatives and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Fed Chairman Jerome Powell said in a statement.
While a central bank creating a cryptocurrency seemingly defeats the idea of crypto in general, the Fed is likely exploring the idea to hasten the transition toward a cashless society. Fed analysts have pined for a cashless society and a digital dollar for many years as it would drastically increase their power.
“We are looking very carefully about whether we should issue a digital dollar,” Fed Chairman Jerome Powell said to the Senate Banking Committee last year. “As the reserve currency, we have the responsibility to get this right rather than be the first.”
“The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,” Powell added, noting that the digital dollar would allow the Fed to increase inflationary measures that would help giant banks.
Big League Politics has reported on the nature of the Fed and how it enables the worst big government excesses of the swamp in Washington D.C.:
“Fox News host Tucker Carlson exposed the U.S. central bank, the Federal Reserve, during an episode of his eponymous primetime show on Tuesday night.
Carlson said that although the Federal Reserve may have been initiated under a noble pretense, they have since strayed from their mandate and become hostile toward the dollar they are supposed to be protecting.
“It’s the classic story of the fireman turned arsonist, or for that matter, the COVID czar who helped to create COVID. Irony of ironies, it seems like we read a lot of those lately,” Carlson said.
He explained the inflationary process known as quantitative easing, which has been the policy on the books since the financial crisis of 2008. The markets are being pumped up with cheap money, and it benefits Wall Street while destroying the financial security of main street.
“Every month, Federal Reserve officials print more than $100 billion new dollars in American currency and then they inject those dollars in our financial system by buying assets like bonds and securities. This is not a normal thing to do. It is a radical thing to do, and it was supposed to be temporary. It was in response to a crisis,” Carlson said.
“In medical terms, quantitative easing is like chemotherapy. There are times when it can save your life but fundamentally, it is poison. If you keep taking it, it will kill you. Pretty much everyone agrees on that. And pretty much everyone understands that ultimately quantitative easing causes horrible inflation, and it is easy to understand why. You don’t need to be an expert. The more money you print, the less that money is worth,” he added.
Carlson explained how the policies of the Federal Reserve are “immoral” and done at the behest of banksters and influential Democrat Party donors. He said that fed officials are refusing to taper their quantitative easing despite repeated assurances they will curtail the reckless policies.
“Labor markets are tight right now because a lot of Americans have simply dropped out of the labor force. 4.3 million people walked off the job last month. Some of them were forced out by Joe Biden’s vaccine mandates. Projections for GDP growth just dropped from six percent to one and a half percent. Small businesses across the country are dying, and maybe most ominous of all. Inflation is here. It’s not just a temporary problem caused by COVID disrupted supply chains. It is absolutely real,” Carlson said.
He used many examples to show how inflation is skyrocketing, including rising food costs and the soaring cost of cars and homes. Carlson said that Biden’s insane government spending is making the Federal Reserve’s policies hurt Americans even moreso, but the elites don’t seem to care very much…
Carlson emphasized that there are people who are directly responsible for these policies, and they should be held accountable for their deliberate destruction of the U.S. economy.
“What he didn’t say was that this is not an act of God. This isn’t a hurricane. It’s not an earthquake. It’s not something we can’t control. This is the result of decades of policy that have enriched a few and impoverished the many. When will the reckoning be for that? And what are the effects for you going forward?” he said to conclude his segment.“
Fed-backed crypto will enable the technocracy to soar to obscene new excesses as the Orwellian Nightmare is realized across the country.