Central Banking

Kentucky House Representative Thomas Massie recently re-introduced a bill from 1999 to end the Federal Reserve Bank. Below is an interview he did with Tom Woods where he talks about the situation and what it’s like working in D.C. (District of Criminals). I gathered the impression that most politicians will not typically do what is right but what is politically expedient. This is interesting to think about considering that the bill as reintroduced has garnered support from close to 25 Representatives. So it begs the question of why is the issue of central banking and ending the Federal Reserve the politically expedient thing to do? My belief is that this won’t ever actually happen, but those representatives are priming themselves to be “on the right side of history”. Central Banking has never ended well and I believe that the Federal Reserve will end no differently.

Inflation

Let’s not forget we are in a national election year and with that comes a whole lot of political pandering. Now I do believe that Massie is honest in his intent. He’s one of the only people in Washington in my opinion that has both a back bone and morals. Most others are in a situation of just trying to make it back into office again. This leads back to the question of why support a bill to End the Federal Reserve? I think it’s because it points to the issue of inflation and monetary policy. When the clown car is heading towards the precipice it’s not politically expedient to support something that will potentially impact the globe. In other words supporting the Bidenomics is not going to win votes, even among died in the wool blue liberals (they might not admit it openly but the economy is not well). If you agree with the US Bureau of Labor And Statistics consumer price index(CPI) since 2020 and the COVID regime’s money printing we’ve seen over 20% inflation. In many ways those numbers are not a very good reflection of what’s actually going on. Just ask someone who’s just left the grocery store.

Bitcoin Fixes This

Now I am not one of those that believes bitcoin fixes everything(although it fixes a lot), in this situation it’s apparent that it does fix things. Thomas Massie even says that impetus for him re-introducing the bill was following his reading of “The Bitcoin Standard” by Saif Ammous. Bravo! I believe in the long run we’ll all end up on a Bitcoin standard, but having political pressure and support will only optimize and expedite things. Praying for this to happen sooner than later.