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Fiat Fasting: Skip Meals to Pay Rent
The consequences of money printing: choosing between food and shelter.
Whether intentional or not, the actions of central banks and governments worldwide are destroying the middle class.
Since the creation of the Federal Reserve in 1913 and fortified with the inception of the fiat standard in 1971, the Ruling Class has used their issuance of currency to steal from all citizens of the United States (and the world). By creating more dollars, the central banks and governments can enrich themselves and dilute the savings of all dollar holders.
The true definition of inflation is "the expansion of the money supply." When politicians and central bankers conspire to create more currency, they inflate the money supply. Their actions lead to higher prices of goods and services, also called "price inflation." While the media, the state's propaganda arm, will try to convince us that price inflation is due to anything other than the expansion of the money supply, do not be misled. The ruling class created over $6 trillion out of thin air within 18 months, which is indisputably the primary cause of today's high cost of living.
While the heist has been underway for over a century, the stakes are higher now. The decisions of the past few years have been absolutely devastating to the middle class. First was the politicians' decisions to lock down the global economy in 2020. Not all the blame can be placed on the politicians, as the media and large corporations participated as equal partners in implementing the comprehensive societal lockdown. Nonetheless, as economies ground to a halt, the largest keystroke of the digital printing press hit the markets - $6 trillion in less than 2 years.
A large portion of the new currency injection moved into markets, inflating the values of assets, such as equities and homes. Much of that added liquidity stayed in the real economy. Despite that, were assured there would be no price inflation. While government tyranny increased in lockstep with global lockdowns and small business owners were shut down by the COVID Gestapo, those close to the money spigot saw their net worths reach all-time highs.
At the time, the media referred to this dynamic as the "K Shaped Recovery." That's quite a nice way to describe the oppressive government policy and wealth transfer from the middle class to the global elites. The "K Shape" refers to Main Street getting destroyed while the Ruling Class and their cronies, such as large corporations and Wall Street, benefitted tremendously.
Then as anyone with half a brain would expect, price inflation materialized significantly. The omnipotent central bankers and bureaucrats were wrong somehow. Practically one year after the global lockdowns and money printing, when economies were permitted to reopen, everything was suddenly much more expensive - it couldn't have had anything to do with all the new currency printed. It was Putin's fault!
The same people who created the debilitating inflation are now trying to reduce it to save their voter base. Their proposed solution to their problem is to "reduce demand," which means creating a recession. Because of the reckless policy of completely unaccountable bureaucrats, the middle class will once again be punished.
During all of this, the disingenuous and manipulative politicians have touted how much they have helped people. They like to point everyone's attention to wage growth - look, wages are up 5% year over year, they say. Yeah, but what about your food, housing, and energy being anywhere from 10-50% higher in the past few years?
Reality paints a different picture than the talking heads of the state. The situation is dire for millions of people. A recent MarketWatch article cited a Clever Real Estate survey: "39% of Americans say they have skipped meals to afford their housing payments. And among millennials, that figure rose to 44%."
According to FRED economic data, housing prices have risen 180% since 2000 and 80% in the past 10 years. Record housing prices and higher interest rates have made housing unaffordable for large swaths of the younger generations.
There's no one to blame for this absolute travesty besides policymakers on both sides of the aisle and central bankers. The result of the past 100 years since the creation of the Fed, 50+ years since global fiat currency, and three years since the Wuhan flu and money printing is the absolute devastation of the middle class.
Millions of people are choosing between eating and paying rent. Think about that for just a second. We now see articles with headlines like "To Save Money, Maybe You Should Skip Breakfast."
Fiat fasting is in full effect. Because of the corruption of the money, people in once the most prosperous country are now skipping meals to keep a roof over their heads. As the Ruling Class continues to enrich themselves with money printing, more people are pushed into hopelessness and despair.
If history is any indicator, the Ruling Class will continue to loot the prosperity and futures of their citizens - so what are we to do?
The answer is evident to me. Since the main issue We the People face is a corrupt monetary system weaponized against the masses, we need an alternative one. Bitcoin is the antidote to central bank-driven time theft.
Bitcoin is a digital vault accessible to all to protect their savings, which is a representation of the time they sacrificed to earn money.
During the fiat standard, only those able to afford financial and real assets have been able to protect themselves from money printing; however, bitcoin offers an exit to everyone regardless of how much or how little savings one has accumulated.
As the broader economic and social landscape continues to decline, we can look out for ourselves and our loved ones and protect our hard-earned wealth from the continued destruction on the horizon.
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