BoogyMan
03-13-2022, 09:56 AM
As the folks who run Washington DC right now trot out leftist after leftist to tell us that Putin is responsible for or inflation woes we need to do some critical thinking because our society tends to memory hole things pretty quickly. Consider the following:
https://thefreethoughtproject.com/80-of-all-us-dollars-in-existence-have-been-printed-in-just-the-last-two-years/
Since March of 2020, Americans and the world alike have watched from the sidelines as power hungry politicians have ushered in draconian lockdowns, shutdowns, police state measures, and brought the economy to its knees. While governments around the planet used their central banks to devalue their currencies by printing money to fund their tyranny, the US led the way down this road to fiscal horror.
Thanks to the trillions of dollars the Federal Reserve has printed over the last two years, America is currently in an inflation crisis. One need only look at the price of groceries over the last two years to realize just how bad of a crisis we are currently experiencing.
As the Biden Administration blames high prices (https://www.whitehouse.gov/briefing-room/statements-releases/2021/07/09/fact-sheet-executive-order-on-promoting-competition-in-the-american-economy/) on greedy industries, this is little more than a distraction from the actual perpetrator. Nevertheless, the left continues to attribute soaring costs on businesses making “too much profit.”
While these corporations are not innocent in this debacle, the role of America’s central bank is far more insidious. As government spending has skyrocketed over the last two years, they have financed their massive expenditures by stealing value from your savings by printing more money through the central bank.
When you print more money it means there are more dollars chasing the same amount of goods and services, which causes prices to rise. In just the past three fiscal years, federal spending has swollen to nearly $7 trillion a year (https://www.usgovernmentspending.com/spending_chart_2010_2021USb_23s2li111mcny_F0), up from about $4.4 trillion in fiscal year 2019. Spending was $6.6 trillion in 2020, and $6.8 trillion in 2021.
If we want to put this into perspective, we can take a look at the monetary supply at the beginning of 2020 (https://fred.stlouisfed.org/series/M1SL), which showed just $4.0192 trillion in circulation. By January 2021, that number had jumped up to $6.7 trillion — but this was only the beginning.
By November of last year, that number climbed to $20.354 trillion dollars in circulation — meaning that since January 2020, the United States has printed nearly 80% of all US dollars in existence….
https://thefreethoughtproject.com/80-of-all-us-dollars-in-existence-have-been-printed-in-just-the-last-two-years/
Since March of 2020, Americans and the world alike have watched from the sidelines as power hungry politicians have ushered in draconian lockdowns, shutdowns, police state measures, and brought the economy to its knees. While governments around the planet used their central banks to devalue their currencies by printing money to fund their tyranny, the US led the way down this road to fiscal horror.
Thanks to the trillions of dollars the Federal Reserve has printed over the last two years, America is currently in an inflation crisis. One need only look at the price of groceries over the last two years to realize just how bad of a crisis we are currently experiencing.
As the Biden Administration blames high prices (https://www.whitehouse.gov/briefing-room/statements-releases/2021/07/09/fact-sheet-executive-order-on-promoting-competition-in-the-american-economy/) on greedy industries, this is little more than a distraction from the actual perpetrator. Nevertheless, the left continues to attribute soaring costs on businesses making “too much profit.”
While these corporations are not innocent in this debacle, the role of America’s central bank is far more insidious. As government spending has skyrocketed over the last two years, they have financed their massive expenditures by stealing value from your savings by printing more money through the central bank.
When you print more money it means there are more dollars chasing the same amount of goods and services, which causes prices to rise. In just the past three fiscal years, federal spending has swollen to nearly $7 trillion a year (https://www.usgovernmentspending.com/spending_chart_2010_2021USb_23s2li111mcny_F0), up from about $4.4 trillion in fiscal year 2019. Spending was $6.6 trillion in 2020, and $6.8 trillion in 2021.
If we want to put this into perspective, we can take a look at the monetary supply at the beginning of 2020 (https://fred.stlouisfed.org/series/M1SL), which showed just $4.0192 trillion in circulation. By January 2021, that number had jumped up to $6.7 trillion — but this was only the beginning.
By November of last year, that number climbed to $20.354 trillion dollars in circulation — meaning that since January 2020, the United States has printed nearly 80% of all US dollars in existence….