Over the past 115 years, many monetary experiments have been implemented by the FED’s officials, but, to me, one quote says it all: “Permit me to issue and control the money of a nation, and I care not who makes its laws!”
It’s funny how things work. Yesterday, FED chairman, Jerome Powell, officially stated that the economy is slowing, just three months after he claimed it was healthy, strong, robust, and any other word that his $2,000/hr statement writer manages to cook-up.
This is the closest we’ve come to a pivotal moment for the global economy since 2009. Today is the pinnacle of the economic experiment, led by the Federal Reserve and followed by all central banks, globally.
In life, as with investing, cause and effect aren’t instantaneous, but inevitable. The currency crisis doesn’t have to happen today, but it is, nonetheless, imminent.
After pumping over $10T dollars in credit into the global economy, central banks have been pulling the rug from under leveraged nations, corporations, and individuals for three years.