At a conference on Biden’s “Build Back Better” scheme, Nancy Pelosi, House Speaker, was asked questions about skyrocketing inflation. After referring to rising gas prices as the “Putin Tax”, Nancy Pelosi went on to give perhaps the most ignorant (or insidious!) denial of the causes of inflation I have ever heard.
“When we have this discussion, it is important to dispel those who claim it’s the government spending. It isn’t. It is actually doing the opposite, decreasing the national debt. It is not inflationary .”
Anyone who has a basic understanding of economics and central bank operations will have felt their brains explode upon hearing this. I was there. Before I go into all the reasons this claim is false, I want you to be aware that it’s easy to assume that Pelosi or Biden are making these arguments simply because they don’t understand the basics of money velocity, debt creation, and fiat. Never mistake ignorance for evil.
The White House briefs all higher-ranking officials about inflation by economic experts (spin physicians) before they can answer any questions. Their answers are carefully planned. Although it is possible that Pelosi muddled her lies a bit, the narrative the establishment wants to promote is well-planned. It’s not a brilliant idea to claim that money creation is a counterbalance to inflation, rather than the cause. However, it won’t convince many people and only creates confusion.
We should not forget that these people told the public last year that inflation was only “transitory” so there wasn’t much to worry about. They are now trying to hide their tracks and the guilt of the Federal Reserve. The goal is to stall for as long as possible until the stagflationary crisis occurs. They have the perfect scapegoat when they launch economic warfare with Russia (and possibly China) and the results of this war will be far worse than most realize.
Let me quickly dissect the bizarre statement made by Pelosi.
First, reducing inflation is not related to paying down the national credit. Even if enough assets could be gathered to pay down the national debt, inflation would still persist. The trillions of dollars that have been created and are floating around the world’s economy would remain. Money supply and money velocity are directly linked to inflation. The issue is secondary.
We need to ask the obvious question. If spending by the government “reduces national debt” through paying it down, why hasn’t the national debt fallen?
In 2020, the US government and Fed created more than $6 trillion in fiat currency. The national debt grew even further. The Fed’s ability to create billions of dollars over the years to support various stimulus policies and bailouts is directly responsible for the rise in national debt. At the time of the credit crisis, the national debt was approximately $10 trillion. This level was reached over hundreds of years. Within 14 years of Fed money creation, the debt has TRIPLED to more than $30 trillion.
It’s true. In less than 14 years, our national debt has more than tripled due to government spending and Fed stimulus. Inflation has risen as dollars are injected into the global economy, causing the currency’s purchasing power to drop dramatically. A higher purchasing power equals more fiat dollars. This is the reality.
Also, Russia being used as a scapegoat is not logical. Pelosi, Biden, and many other establishment leftists have claimed that blocking Russian oil from the US is leading to inflation in several sectors of the economy. However, it’s necessary to stop Putin’s invasion of Ukraine. One might think that we use a lot of Russian oil. We don’t.
Only 3 percent of US crude oil imports come from Russia. There is no evidence that sanctions against Russian oil have caused rising prices. Nor do these sanctions have any effect on the Kremlin. The inflation rate was at its highest level in 40 years in December last year, long before the conflict in Ukraine. In fact, news about Fed interest rate hikes drives oil markets more than news about Ukraine.
Let me summarize: I have a message for Nancy Pelosi. Please shut up, blood-sucking crone. Your propaganda script is flawed and the American people are smarter than you.
Moving on to the more important issues
This story isn’t just about protecting Biden’s Administration; it also concerns protecting the Federal Reserve. Former Fed Chair Alan Greenspan openly admitted that the central bank does not answer to anyone, even government officials. Many believe that the central banks and international banking make most of the policy decisions for the government. Politicians have very limited influence. Given the presence of the globalist Council on Foreign Relations members and banking elites that seem to be permeating every presidential cabinet, I agree. This includes Trump’s cabinet as well as Biden’s.
Biden is a hollow shell of a man barely capable of maintaining sanity. Who do you think runs the country?
Recently, I’ve been writing about how globalists and establishment elites can actually reap the benefits of a stagflationary crisis. As long as they are able to divert blame to other sources and not subject to retribution from the public, I’ve been writing a lot. One of these benefits is the cover event for the agenda the World Economic Forum calls “Great Reset,”, which is basically another name for the “New World Order.”
It is amazing that the media and government hailstorm of fear porn about covid has suddenly disappeared. What’s the story? The establishment was defeated. That’s what actually happened. Globalists realized that the fight against vaccine passports and lockdowns was over with the help of moderates and conservatives in the US. All talk of medical tyranny and passports is now gone.
Some people give globalists too much credit, but they still claim that the covid scheme was a success. These people are wrong. You can see the success of China if you go there. There are hundreds of millions still under lockdown today. No one can do anything without a valid vaccine passport and QR code. The vax passports in China are used to track the population and also provide information about their social credit scores. This was what globalists wanted for all countries, including the US. They didn’t get it. It’s now on to the next crisis.
For a variety of reasons, the stagflation risk worries me more than others. It’s not because of extreme poverty. The strategy of “order from chaos” is about inducing enough despair within a target population to make them willing to give up their freedoms for some safety and normalcy. What controls would the establishment want?
Stagflation can cause higher prices for necessities and drag down GDP along with wages, employment, and manufacturing. The real danger of price controls by the government, which could suffocate production or reduce supply, is real. Although we aren’t quite at this point yet the danger is rapidly approaching.
Two initiatives from the WEF’s Great Reset agenda parallel stagflation nearly exactly. I predict that we will hear about them frequently in the next year.
Universal Basic Income (UBI) was the first initiative. We heard much about it a few years back, but it didn’t really resonate with the American public. However, we had UBI before, in the form covid stimulus checks. This money was paid for by more than $6 trillion in central bank fiat, which was created from nothing and then directly injected into citizens’ accounts. Although it was not enough to sustain a household, millions were able to enjoy a comfortable life at home for over a year thanks to other welfare programs and unemployment benefits. It was so easy to get the money that it actually caused a national labor shortage.
People might have had a small taste of UBI. The covid programs might have led the public to believe that UBI would lead to a happy life and plenty of money. The covid checks alone would not have been sufficient to provide food and shelter for people without other welfare programs. UBI would require a drastic drop in the standard of living to be effective. Stagflation is here
The economic downturn is threatening our standard of living and it might be easier for the establishments to attract the public to UBI. The public could survive with price controls in communist-style across the board and a smaller population due to poverty and starvation. There would be no “personal wealth”, only the money that governments and banks are willing to give people. It would also be almost impossible to resist authoritarianism. The government becomes the mommy and daddy of the citizenry and is the only source of food and housing, and they are less likely to resist any abuses the establishment may dish out.
UBI is a candy-coated trap that breeds dependence in a population. The addictive drug of free money was America’s pandemic.
This brings us to the second WEF Great Reset program. The globalists believe that you should have nothing, have no privacy, and be happy about it. This is the first danger. In a stagflationary situation, a government cannot implement UBI measures without also instituting price control. Otherwise, the fiat stimulus used for UBI checks would only cause more inflation. UBI will not work if it does more inflation than it is intended to offset. Pelosi and others will ignore this fact when they claim money printing is helping to “fight inflation.”
Manufacturing will collapse further if price controls are put in place. This is because producers of essentials will no longer be able to make a profit or they will lose all their profits. It will not be possible to produce with the people who know how to make it, and they are difficult to replace. There will be insufficient supply to meet the demand. The government will use the opportunity to limit how many goods a single person or family can purchase or stockpile using rationing cards.
These types of measures were used before, often during wartime or under communist regimes. The rationing in this instance will be digital and will last forever. It will also be used to control food and other resources to stop people from rebelling. If you are unable to store more than one week’s worth of necessities at once, your ability to resist the government is negligible unless you have access to the black market or land to live off. They will simply take your UBI checks and ration accounts and make you hungry.
In an article, I’ll soon be covering solutions to these issues. It is important that everyone, both within and outside the liberty movement, considers the severity of the crisis facing us. It’s more than an economic disaster. It’s about adapting to the loss of supply chains and stable currency. Survival is not the goal. It is also about fighting against the inevitable government response. They will use the pain of others to seduce them into slavery. This cannot happen.