Fed Chair Powell Just Made this Dangerous “About Face” on U.S. Debt

From Birch Gold Group

federal debt direction

In the latest installment of “Fed Face-Palm Moments,” Federal Reserve Chairman Jerome Powell appears to have dangerously changed position on U.S. debt.

And it only took a little more than one year to do it.

As recently as January 2019, Powell said he was concerned about U.S. debt:

I’m very worried about it… It’s a long-run issue that we definitely need to face, and ultimately, will have no choice but to face.

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THE ROAD TO PERDITION IS PAVED WITH EVIL INTENTIONS

“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending”Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms

The Logic of globalism | The Vineyard of the Saker

“Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.”Nassim Nicholas Taleb

As we continue our national lockdown suicide cult to hell, I find myself getting angrier and angrier at the pathetic leadership displayed by politicians, government bureaucrats, so called medical “experts”, and intellectual yet idiot academics displaying their ignorance of facts, reality, history, and humanity. My nature is to be skeptical of everything I read or am told.

I most certainly disregard everything communicated to me by politicians, world leaders, central bankers, corporate CEOs, CNBC talking heads, the mainstream corporate fake news media, and lately – self-proclaimed medical experts who have distinguished themselves by not seeing the danger coming, downplaying the danger, not being prepared for the danger, incompetently handling the danger and righteously proclaiming the nation had to be brought to a full stop because their terribly flawed models said so.

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WEEKS WHERE DECADES HAPPEN

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“There are decades where nothing happens; and there are weeks where decades happen.”Vladimir Ilyich Lenin

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 “A Crisis mood does not guarantee that the new governing policies will be well designed or will work as intended.

To the contrary: Crisis eras are studded with faulty leadership and inept management—from President Lincoln’s poor record of choosing generals to President Roosevelt’s colossal blunders with such alphabet soup agencies as the AAA, NRA, and WPA.

What makes a Crisis special is the public’s willingness to let leaders lead even when they falter and to let authorities be authoritative even when they make mistakes.

Wars become more likely and are fought with efficacy and finality. The risk of revolution is high—as is the risk of civil war, since the community that commands the greatest loyalty does not necessarily coincide with political (or geographic) boundaries. Leaders become more inclined to define enemies in moral terms, to enforce virtue militarily, to refuse all compromise, to commit large forces in that effort, to impose heavy sacrifices on the battlefield and home front, to build the most destructive weapons contemporary minds can imagine, and to deploy those weapons if needed to obtain an enduring victory.” – Strauss & Howe – The Fourth Turning

The quote by Lenin has been reverberating in my conscience for the last few weeks. I believe the quote from Strauss & Howe provides context to what has happened and will happen as this Fourth Turning advances towards its climax. I began a new role in my organization two weeks ago, after only seven months in my previous role. I’ve been in non-stop crisis meetings, as this coronavirus pandemic has flipped everyone’s world upside down. As of Thursday, we were ordered to work from home.

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NOTHING TO FEAR BUT FEAR ITSELF

Customers waited in line at a Costco in Burbank last week to buy water and other supplies for fear that COVID-19 would spread and force people to stay indoors. Image result for nothing to fear but fear itself coronavirus

“So, first of all, let me assert my firm belief that the only thing we have to fear is…fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days.”- Franklin D. RooseveltMarch 4, 1933

Franklin D. Roosevelt spoke these words during his first inauguration at the depths of the Great Depression in 1933. The narrative taught in government schools is how FDR’s words invigorated the nation and inspired the people to show courage in the face of adversity. His terminology was that of a general leading his troops into battle.

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NO ONE GETS OUT OF HERE ALIVE

“The seasons of time offer no guarantees. For modern societies, no less than for all forms of life, transformative change is discontinuous. For what seems an eternity, history goes nowhere – and then it suddenly flings us forward across some vast chaos that defies any mortal effort to plan our way there. The Fourth Turning will try our souls – and the saecular rhythm tells us that much will depend on how we face up to that trial. The saeculum does not reveal whether the story will have a happy ending, but it does tell us how and when our choices will make a difference.”  – Strauss & Howe – The Fourth Turning

As we wander through the fog of history in the making, unsure who is lying and who is telling the truth, seemingly blind to what comes next, I look to previous Fourth Turnings for a map of what might materialize during the 2nd half of this current Fourth Turning. After a tumultuous, harrowing inception to this Crisis in 2008/2009, we have been told all is well and are in the midst of an eleven-year economic expansion, with the stock market hitting all-time highs.

History seemed to stop and we’ve been treading water for over a decade. Outwardly, the establishment has convinced the masses, through propaganda and money printing, the world has returned to normal and the future is bright. I haven’t bought into this provable falsehood. Looking back to the Great Depression, we can get some perspective on our current position historically.

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2020 – YEAR OF LIVING DANGEROUSLY

“A shocking crime was committed on the unscrupulous initiative of few individuals, with the blessing of more, and amid the passive acquiescence of all.”

Tacitus, Publius Cornelius

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The shocking crime being committed during this century under the unscrupulous initiative of a few evil men is ongoing and no longer hidden from those willing to open their eyes and see the truth. As conspiracy theorists have proven to be right through the sacrifice of Snowden, Assange, and other patriots for truth, the Deep State psychopaths have double downed and are blatantly flaunting their power and control over the levers of government, finance and media.

Never in the history of mankind have such devious, unscrupulous, arrogant, narcissistic and downright evil men seized hegemony over global finance, trade and politics. A minority of billionaire oligarchs and their highly compensated apparatchiks, ingrained in government bureaucracies, surveillance agencies and media outlets refuse to relinquish their dominance and would rather burn the world to the ground than lose their ill-gotten riches, un-Constitutional power and unlawful control.

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THIS DAY IN HISTORY – The U.S. national debt reaches $0 for the first time – 1835

Via History.com

On January 8, 1835, President Andrew Jackson achieves his goal of entirely paying off the United States’ national debt. It was the only time in U.S. history that the national debt stood at zero, and it precipitated one of the worst financial crises in American history.

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The Forgotten Debt

Guest Post by John Stossel

The Forgotten Debt

Congress and the media obsess endlessly over whether President Donald Trump should be impeached.

Both ignore $23 trillion of bigger problems.

That’s how deep in debt the federal government is now, and because they keep spending much more than they could ever hope to collect in taxes, that number will only go up. It’s increasing by $1 trillion a year.

“Shut up, Stossel,” you say. “You’ve been crying wolf about America’s debt for years, but we’re doing great!”

You have a point.

For many years, I’ve predicted that government, to fund freebies both parties want, would print boatloads of money. That would cause massive inflation. I bought silver coins so I might afford a loaf of bread while the rest of you haul suitcases full of nearly worthless paper currency to the bakery — or go hungry!

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U.S. Debt Jumps $1 Trillion in 3 Months – Is the Economy Healthy?

From Birch Gold Group

US debt

It first worried Federal Reserve Chair Jerome Powell in January, then billionaires started to panic in February. Turns out, both may be right.

We’re talking about the national debt, which sits at $22.986 trillion as of November 5, according to the U.S. Treasury. Since February 1, the debt has jumped over $1 trillion.

The alarming fact is, most of that debt increase came in just the last 3 months. Plus, according to Zero Hedge, “under the last two US presidents, total US debt has increased by 115%, to a record $23 trillion.”

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STRANGER IN A STRANGE LAND

“Secrecy begets tyranny.” Robert A. Heinlein, Stranger in a Strange Land

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“Thinking doesn’t pay. Just makes you discontented with what you see around you.”Robert A. Heinlein, Stranger in a Strange Land

When I read quotes by men like H.L. Mencken and Robert Heinlein, I realize I’m not really a stranger in a strange land, even though I feel that way most of the time. These cynical, critical thinking, libertarian minded gentlemen understood government tended towards corruption and tyranny, the populace tended towards ignorance and distraction, and reality eventually teaches a harsh lesson to fools, knaves and dumbasses.

Sometimes we think the current day worldly circumstances are new and original, when human nature, politicians, and governments never really change. When Mencken and Heinlein were writing and providing social commentary during the 30’s, 40’s and 50’s, they observed the same fallacies, foolishness, lack of self-responsibility, government malfeasance, and inability of the majority to think critically, that are rampant in society today.

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Ron Paul Frightens Trick-Or-Treaters By Jumping Out And Telling Them About The National Debt

Via The Babylon Bee

LAKE JACKSON, TX—Sometimes adults will jump out and scare children with creepy costumes or presentations on climate change. But former senator and presidential candidate Ron Paul came up with a new tactic to frighten trick or treaters: jumping out and lecturing them on the ballooning national debt.

As the first trick-or-treaters rang his doorbell for the evening, Paul leaped from his front door and cried out, “The national debt is rapidly approaching $23 trillion!”

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UNDERESTIMATING THEM & OVERESTIMATING US

“Do not underestimate the ‘power of underestimation’. They can’t stop you, if they don’t see you coming.” ― Izey Victoria Odiase

Image result for bernanke, yellen, powell

During the summer of 2008 I was writing articles a few times per week predicting an economic catastrophe and a banking crisis. When the biggest financial crisis since the Great Depression swept across the world, resulting in double digit unemployment, a 50% stock market crash in a matter of months, millions of home foreclosures, and the virtual insolvency of the criminal Wall Street banks, my predictions were vindicated. I was pretty smug and sure the start of this Fourth Turning would follow the path of the last Crisis, with a Greater Depression, economic disaster and war.

In the summer of 2008, the national debt stood at $9.4 trillion, which amounted to 65% of GDP. Total credit market debt peaked at $54 trillion. Consumer debt peaked at $2.7 trillion. Mortgage debt crested at $14.8 trillion. The Federal Reserve balance sheet had been static at or below $900 billion for years.

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1,015,736,491,184 reasons to have a Plan B

Guest Post by Simon Black

Precisely one year ago today, the US federal government opened Fiscal Year 2019 with a total debt level of $21.6 trillion:

Specifically, the US federal debt on October 1st last year was $21,606,948,183,180.23

Today is the start of the government’s 2020 Fiscal Year. And the total debt is now $22,622,684,674,364.43

That means they accumulated more than $1 TRILLION in new debt over the course of the 2019 Fiscal Year.

Think about that for a moment:

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