Central Banks and governments have engaged in quiet collaboration to ‘take care of citizens’ and ‘solve’ economic dilemmas as they come up through their uniquer capacity to ‘print money’ and turn a blind eye to the eventual currency-debauching consequences.
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Klaus Schwab’s “Magic Money Tree” Prediction Is Coming True
ZeroHedge, Jan 25, 2021 – Excerpts:
In his book titled, COVID-19: The Great Reset (Published July 2020), World Economic Forum globalist Klaus Schwab predicted that the effects of the initial stimulus efforts by governments to keep both individuals and business afloat in the aftermath of the unprecedented lockdowns would create a scenario where the public would keep elected officials under “fierce and relentless” pressure to continue the schemes of helicopter money well into the future.
For those unfamiliar with Schwab, he is the founder of the World Economic Forum that is at the forefront of pushing the idea of a “great reset” in the face of the Covid-19 pandemic. Schwab is now best known by the common folk as the guy who said the world will “never” go back to normal because of Covid and as the creep who envisions a technocracy under which people are subjected to sci-fi level police state surveillance.
“The idea is appealing and realizable, but it contains an issue of social expectations and political control,” Schwab says in his book about printing money and giving it to the public.
“Once citizens realize that money can be found on a “magic money tree,” elected politicians will be under fierce and relentless public pressure to create more and more, which is when the issue of inflation kicks in.”
It is now conceivable that, in the future, government will try to wield its influence over central banks to finance major public projects, such as an infrastructure or green investment fund. Similarly, the precept that government can intervene to preserve workers’ jobs or incomes and protect companies from bankruptcy may endure after these policies come to an end. It is likely that public and political pressure to maintain such schemes will persist, even when the situation improves.
With anger, discontent, and the need for more being the visible result – at least in the United States – of politicians failing to feed the public money from the “magic money tree,” Schwab’s thoughts are coming to life.
It certainly wasn’t the hardest thing to predict, that people would have an ‘aha’ moment after getting a taste of the money printer’s money. It was a line that was crossed, and a political decision that will likely be incredibly hard to reverse course on.
As we have written about before, the introduction of stimulus payments since March 2020 has looked a lot like a Universal Basic Income scheme. And with an economic situation so bad due to lockdowns, it is likely to continue well into the future to keep the public content with the status quo.
There is also absolutely no reason to believe that the federal government will stop going into debt and having that debt monetized by the Federal Reserve anytime soon. Just take it from Biden’s likely Treasury Secretary and former central banker, Janet Yellen, who said at her confirmation hearing that congress should “act big” on relief spending and worry about debt LATER.
Federal Reserve Chair Jerome Powell has also stated that the Fed would continue to buy $120 billion in bonds each month until the economy made “substantial further progress” toward the Fed’s goals of maximum employment.
If you’ve been keeping up with the official unemployment numbers, you understand Powell means that the Fed’s economic interventions aren’t going to end for some time.
And as Schwab further notes in his book, COVID-19: The Great Reset, with interest rates at near zero, the Federal Reserve is likely to take on monetizing government debt rather than the classical move of bringing interest rates lower or negative as a means of “stimulating” the economy.
Ben Franklin had a quote that everyone should keep in the back of their head …
“When the people find that they can vote themselves money that will herald the end of the republic.”
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There is another way.
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The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3933 downloads)