The Fed’s controlled annihilation of the U.S. economy continues uninterrupted
In 2019, BlackRock told the Fed that when the next downturn arrived, it would need to “directly inject money into the economy through a so-called helicopter drop.” See https://www.blackrock.com/corporate/
Lo and behold, a pandemic is declared a few months later and the Fed directly injects some $4 trillion into the U.S. economy through a helicopter money drop. Yes, the heft of that drop was into the bank accounts of various billionaires, but, you know, BlackRock never said NOT to do that so it’s all good.
We know the Fed read and understood BlackRock’s 2019 plan because BlackRock presented that plan, co-authored by monetary luminary and star Fed alumnus Stanley Fischer, at the Fed’s gala annual swinefest in Jackson Hole, Wyoming.
Consequently, we also know that BlackRock expressly and repeatedly warned the Fed that the biggest risk associated with its proposed helicopter drop was inflation and even hyperinflation.
And here we are with the worst inflation in at least half a century or more, and now the Fed acts all surprised that this inflation—this politically VERY unpopular inflation—ain’t going away anytime soon. And the Fed is trying its little heart out to make all those nasty price increases just go far away. At least it does when it’s not blaming everyone under the sun EXCEPT the Fed for the inflation that the Fed damn well knew it was causing in the first place.
Okay fine. Just reverse whatever process you undertook to cause the inflation in the first place, and you’ll be fine, right? No, not right. Wrong. The downside the Fed now faces as the result of trying to clean up its own mess is biblical in scale. Actually the Fed is at risk of setting off a depression worse than the one in 1929 only with massive inflation mixed in at the same time.