What's crazier than the fact that we are all becoming debt slaves is the fact that most people are unaware or brush off this information when presented with it.
The head of the federal reserve Jerome Powell said it’s not sustainable and that “is an issue that is up to you and not us” while addressing the Congress’ Joint Economic Committee.
He was quoted in this article by CNBC: https://www.cnbc.com/video/2019/11/13/feds-powell-debt-is-growing-fast-than-economy-and-thats-not-sustainable.html and I read out this originally in this CoinTelegraph article: https://cointelegraph.com/news/got-bitcoin-us-fed-warns-national-debt-growth-is-not-sustainable/amp?__twitter_impression=true
He even pointed that “the consequences of not addressing it is just that… our kids and grandkids will be spending their tax dollars servicing debt rather than on the things they really need.”
It’s insane they know it’s a problem and they know it’s not their problem, it’s ours. So, they will leave it up to Congress whom we must get to fix this. Debt-driven economic policy and the results garnered by it are the exact reason cryptocurrency was invented. People need to wake up now before it’s too late. Many would say it already is too late and we cannot fix our economies. The only thing we can do is prep and invest so that our descendants aren’t debt slaves as much as we already are.
Many people do not realize that the concept of inflation is really a secret tax on the people so that they can continue taking out loans they can’t afford. I use tax loosely here as the money isn’t even going to the government to help with public services, no, it’s going to the private corporation that is the Federal Reserve.
Do you know where your money is going and where it’s coming from?
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#Federalreserve #jeromepowell #usdollar
Hey everyone Scott Cunningham aka @scottcbusiness today we're going to be talking about how the Federal Reserve is
completely aware of the fact that what they're doing is unsustainable and they
don't intend to fix it they swore well the head of the United States Federal
Reserve swore in front of the Congress Joint Economic Committee two days ago
Jerome Powell said ultimately in the long run it's not a sustainable place to
be how to fix that oh it's easy to say that but how do you do that and whe
n you
do that is an issue that is up to you and not to us so they know it's not
working it's not going to work and they're not going to fix it and
currently the US debt is at 23 trillion about $70,000 per person on average and
what this means is as well like they will keep inflating the money to help
deal with this which is just going to raise prices and devalue the money
further and further and the people will have to pay that and make up for that
see the people are making the same amount of we
alth if you go to your job
and you chop down 20 trees you have 20 trees worth of wealth but the money that
represents that is being worth is worth less every year so you get paid 10
dollars per tree you have $200 you put that in the bank saving 1% interest but
the inflation rate is 1.8 percent thus you're losing 0.8 percent of
everything you're taking in and what that really is is a tax to deal with the
debt almost there's I'd say majority of the people are completely unaware of how
this works i
t is a secret tax that you are completely unaware of because you
don't see it happening it's not talked about most people don't even know that
the Federal Reserve is a private corporation it's not actually run
by the United States even though it's called the United States federal reserve
federal I've talked about this before but this just came out two days ago
saying that they were completely aware of the fact that it's not working and
that's fine with them they're gonna continue to do this beca
use the bank
gives out money and then it runs out and then they print more and they give it to
the banks and then they charge like then the inflation that's inflation and so
then it's worth less and then you're paying that for everything that you're
paying for they just recently gave out just four trillion the Fed distributed
funds worth SEP 1 2014 it's just gonna keep going keep going
and there's nothing being done about it and essentially they said that it's the
grandkids and our kids in the n
ext generations that are just gonna be
spending all of their tax dollars just to service the debt instead of things
that are actually important people are already debt slaves but in the future
it's going to be so crippling that almost all the money you make will go to
just paying off the debt from previous generations
this is really important because you know what can you do
while cryptocurrency alternative means gold you need to be investing your money
in something other than just saving your m
oney because you're saving at 1%
interest and the inflation rate is 1.8 you're losing point 8 percent of your in
of your money every single year your wealth is going down you're losing your
wealth and the prices are going up - not only do you have less money but the
prices are going up and you're spending more on everything this naturally would
get to a point where you can't afford to do anything and everyone will be
completely dependent on the government or some entity to support them because
t
here's no way that you could just do it by yourself because everyone's
completely in debt it's very concerning because most people are completely
unaware of this this secret tax and up until you know recently it was almost
seen as being conspiratorial even though it was publicly available like the
knowledge was publicly available and you could just figure this out yourself the
reason that I'm sharing this is because you need to take precautions the average
person is being beat down by debt and t
hey don't even know it let me know what
you guys think about this below I'm very interested to hear what you guys have to
say and if you watched the very end of this make sure to comment hashtag number
one ham so I did know that you watch it thank you so much for watching I
appreciate you I'm Scott Cunningham aka @scottcbusiness signing off
Cheers
Comments
Let me know what you think about this in the comments below and don’t forget to subscribe!
This true. I was just discussing this with my dad yesterday and he can remember how 'cheap' things used to be 50 years ago. I even remember gas prices being around $1 per gallon. It's only going to get worse. I don't know if crypto is the solution but I know the current system is falling apart.