The Fed Is Already Insolvent. Here’s How We Think This Plays Out

The Fed Is Already Insolvent. Here’s How We Think This Plays Out

Notes From The Field By James Hickman ( Simon Black ) 5-22-24

On Tuesday, September 15, 1992, the two most powerful financial officials in the British government held an urgent meeting that night to review their plan for when the markets opened the next morning.

The tone of the meeting must have felt frantic… even desperate… because the value of the British pound had been falling for weeks.

Investors and speculators were rapidly losing confidence in the UK government, mostly due to the ridiculous “Exchange Rate Mechanism” (ERM) which essentially pegged most European currencies to the German Deutschemark.

Rational investors viewed the ERM as an almost comical impossibility.

Germany’s economy was light years ahead of everyone else. Germany had vastly higher productivity, far greater savings, low inflation, high growth, and much more responsible monetary policy.

So, to even pretend that a country like Italy or even Britain could fix its exchange rate to the Deutschemark, i.e. to essentially mirror Germany’s economic performance-- was a total joke.

Britain joined the Exchange Rate Mechanism in October 1990. Prime Minister Margaret Thatcher had spent years trying to keep Britain out of the ERM, viewing it as giving up national sovereignty.

But Thatcher was about to retire. And the new batch of leaders insisted that pegging Britain’s economy to Germany was the way forward.

Their experiment didn’t even last two years. By the summer of 1992, inflation in Britain was more than 3x Germany’s. Plus, Britain had a major budget deficit.

Financial speculators correctly recognized, given the massive disconnect between the British and German economies, that Britain would not be able to maintain its fixed exchange rate with the Deutschemark.

So, traders began short selling the British pound, i.e. betting that the value of the pound would fall because the British government would devalue its currency.

The sell-off reached a crisis on September 15th, when the head of Germany’s central bank suggested to the Wall Street Journal that weaker countries (like Britain) would have to devalue their currencies.

That’s what led the British Chancellor of the Exchequer and head of the Bank of England-- the two most powerful policymakers in British government finance-- to meet that evening.

They knew that the German central bank’s comments would encourage even more traders to dump the British pound. So, the two men pledged to do ‘whatever it takes’ to defend the pound and defeat the speculators.

It didn’t work.

The following morning on September 16th, the Bank of England did everything it could. They raised interest rates, they bought back pounds, they bought government bonds, they made all sorts of outlandish promises.

But speculators didn’t believe any of it. They could see the numbers, and they knew that the Bank of England simply didn’t have the financial resources to maintain such an unrealistic exchange rate.

One of those speculators was George Soros, who famously bet $10 billion against the British pound… far exceeding the Bank of England’s financial resources

By the end of that day, the British central bank had exhausted its capital and was essentially bankrupt. The British government had to bail them out to the tune of 3 billion pounds, and then announce that they were formally leaving the ERM-- proving the speculators right.

This is an important story to understand, because it’s likely that something similar may happen to the Federal Reserve and US dollar over the next several years.

The Federal Reserve is already insolvent.

According to its most recent annual financial statements, the Fed has just $51 billion in equity, versus a whopping $948 billion in mark-to-market losses. This means the Fed is insolvent by roughly $900 billion.

This is a big problem. Remember that the Fed is still a bank, i.e. it has financial obligations, liabilities, and depositors that it needs to pay.

For example, commercial banks like JP Morgan and Bank of America have deposited a total of $3.4 trillion of their customers’ money, i.e. YOUR money, with the Fed. And the Treasury Department holds another $700 billion deposit at the Fed.

The Fed owes money to foreign governments. They owe trillions of dollars from repurchase agreements to banks and businesses across the global financial system.

So, yeah, the insolvency of the Federal Reserve is a pretty big deal. Yet, at least for now, no one is saying a word about it.

But just like the Bank of England in 1992, sooner or later, someone is finally going to say something… and do something… about the Fed’s insolvency.

There’s a good chance that means betting against the dollar… just like speculators bet against the pound three decades ago. And that would ultimately reduce the value of the dollar, increase inflation, and trigger a new ‘Bretton Woods’ agreement in which the US dollar is no longer the world’s reserve currency.

George Soros became known as “The Man Who Broke the Bank of England”. (Though given his malign proclivity to fund progressive activists, he is known by several other names in my household, none of them reverent).

Within the next several years there could be some Chinese or Russian financier who becomes known as “The Man Who Broke the Fed”.

This isn’t sensational. The Fed is already insolvent by $900+ billion, according to its own financial statements. Social Security is insolvent. The US government is insolvent by tens of trillions… and they further anticipate the national debt to grow by $20 trillion over the next decade.

These are facts, not fantasies.

And this is why it makes so much sense to hedge these risks by owning real assets which are scarce, valuable, and uncorrelated to the US dollar.

Gold is a great example. And as we’ve argued before, even though it’s already near its all-time high, we believe it can go much higher from here.

More on that soon. 

To your freedom,   James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/the-fed-is-already-insolvent-heres-how-we-think-this-plays-out-150869/

International Monetary Units: How SDRs Lead to Our GCR

International Monetary Units: How SDRs Lead to Our GCR

On May 21, 2024 By Awake-In-3D

The quest for a global currency reset leads us back to the origins of international monetary units, marking the SDR architecture as the critical starting point.

This is Part 1 of a 2-Part examination of mapping the GCR Gold Monetary Unit

In This Article:

1. The Birth of Special Drawing Rights (SDRs)

2. Challenges Faced by SDRs

3. The Rise of Gold-Backed Stablecoins

4. The Future of International Monetary Units

Does GCR stand for Global Currency Reset or Golden Currency Reset?

Actually, it could stand for both.

The concept of international monetary units has evolved significantly over time, reflecting changes in the global financial landscape.

From the introduction of the Special Drawing Rights (SDRs) by the International Monetary Fund (IMF) in 1969 to the advent of gold-backed digital stablecoins today, these units have undergone substantial transformation.

“At last… the elusive GCR is within reach!” Source: Disney Entertainment

 The Birth of Special Drawing Rights (SDRs)

In 1969, the IMF introduced SDRs as a novel international monetary unit. The goal was to supplement gold and currency reserves of member countries.

The SDR was conceived as a potential global currency, aiming to stabilize the global economy and provide liquidity.

This international unit of value was designed for exchange between central banks and to act as a buffer against economic crises.

Challenges Faced by SDRs

Despite its promising start, the SDR faced several challenges.

The primary issue was that SDRs were not anchored by any tangible asset like gold, making them fiat in nature. This lack of real backing made it difficult for SDRs to establish a stable value against other fiat currencies.

Consequently, the SDR failed to gain widespread acceptance as a currency and became more of a tool for international debt management rather than a functional global currency.

The Rise of Gold-Backed Stablecoins

With advancements in financial technology (FinTech), the landscape of international monetary units began to shift.

Digital innovations have paved the way for the creation of gold-backed stablecoins, offering a more reliable and practical solution.

Unlike SDRs, these stablecoins are backed by physical gold, providing a tangible asset that helps maintain their value and stability in the international market.

The Future of International Monetary Units

The journey from SDRs to gold-backed stablecoins highlights the evolution of international monetary units in response to technological advancements and economic needs.

While SDRs represented a bold experiment, their shortcomings underscored the importance of backing currencies with tangible assets.

The emergence of digital, gold-backed stablecoins marks a significant advancement, offering a promising future for international trade and financial stability.

The Bottom Line

The evolution of international monetary units from SDRs to gold-backed stablecoins illustrates the continuous search for a stable and reliable global currency.

As technology advances, the possibility of a global currency reset becomes more attainable, with gold-backed stablecoins leading the charge towards a more stable and secure financial future.

The quest for a global currency reset finds its starting point in the SDR architecture, marking a significant milestone in the journey towards financial stability.

SDRs Explained: https://www.investopedia.com/terms/s/sdr.asp

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews

Follow me on Twitter: @Real_AwakeIn3D

KTFA Wed. Night CC: “FRANK26….5-22-24……..IT’S GUARANTEED”

KTFA

Wednesday Night Conference Call

FRANK26….5-22-24……..IT’S GUARANTEED

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=JcfcpJkynPs

More News, Rumors and Opinions Wednesday PM 5-22-2024

TNT:

CandyKisses:  International group lifts Iraq from ‘bad’ financial list

Shafaq News / The Middle East and North Africa Financial Action Task Force (MENAFATF) on Wednesday ranked Iraq as a country highly committed to recommendations on combating money laundering and terrorist financing.

The Media Center of the Iraqi Supreme Judicial Council, in a statement received by Shafaq News, said that the organization decided at its general meeting held in the Kingdom of Bahrain for the period from May 19-23, to consider Iraq one of the countries that are highly committed to the recommendations of the Financial Action Task Force (FATF) in the field of combating money laundering and terrorist financing.

He pointed out that "the report of the residents on Iraq and the adeqency of the procedures followed by the Iraqi authorities in the field of combating money laundering and the financing of terrorism were accepted."

He pointed out that accepting the residents' report "means continuing not to include Iraq on the gray list, which is the list of high-risk countries in the field of combating money laundering and terrorist financing, after the Iraqi team succeeded in convincing the general meeting of MENA FATV of the adequacy of the measures taken by it in this field."

The media center explained that the two deputy presidents of the Karkh Court of Appeal, Judges Ali Hussein Jaffat, Lia Jafar, and the Deputy Chairman of the Russafa Court of Appeal, Judge Ayad Mohsen, participated in the meeting with a group of representatives of the Anti-Money Laundering Office of the Central Bank of Iraq, as well as representatives of the rest of the relevant Iraqi institutions.

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Tishwash:  US Extends State of Emergency in Iraq

United States President Joe Biden has extended the state of emergency in Iraq for another year, citing the ongoing instability in Iraq as a threat to US national security.

On Monday, the White House released the letter of President Biden’s notification to Congress regarding the extension of the state of emergency in Iraq for another year.

According to Biden’s letter to Congress, “to address the unusual and extreme threats to US national security and foreign policy posed by obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political administration and economic institutions,” the US president has extended the 2003 national emergency in Iraq for another year.

Resolution 13303 was issued by former US president George W. Bush after the Iraq war on May 22, 2003, to protect the Iraqi Development Fund for the reconstruction of Iraq, as well as to protect Iraqi oil products, US interests, and to lift sanctions on Iraq.

“It will allow the US president to take more steps in Iraq, including the use of emergency forces, the deployment of more troops, the imposition of economic sanctions, the suspension of certain laws and measures, or any other step to protect US national security and foreign policy in Iraq.”

The US president must notify Congress of the extension in a special letter 90 days before the expiration date.

In recent years, Iranian-backed Iraqi militia groups have called for US withdrawal from the country.

For future US and international coalition forces in Iraq, the US and Iraq have established a joint Higher Military Commission, which is a military-to-military dialogue between Iraqi and U.S. defense leaders and professionals.

Since its launch in January 2024, the three subcommittees established by the Higher Military Commission have conducted meetings in Baghdad supported by coalition members to discuss the threat of IS, the operational environment, and the capabilities of the Iraqi Security Forces.Link

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  Is Iraq a member of the WTO? 'Well, Frank you say they're a member of the WTO, they qualified for it.'  But do you see any official paper that tells you they're a member of the WTO. 'No.'  Why not?  Until you see the new exchange rate.  'But you don't have to have a high exchange rate to join the WTO.  Why do you say something like that?' Because commitments were made in contracts that were guaranteed by Sudani for all these people through the WTO investments for the economic reform of Iraq.

Mnt Goat  The UN, IMF and World Bank all on one day, Thursday, noted significant progress that Iraq has made in recent years, despite ongoing challenges. The reinstatement spigot has been opened. The direction is now clear.

Commodities Have 'Never, Ever' Been More Undervalued Than Today: Leigh Goehring

Commodity Culture:  5-22-2024

Leigh Goehring brings his decades of experience as an investor in natural resources to send a message: now is the time to invest in commodities, as they have never been more undervalued in the history of markets. Leigh goes in-depth on his investment thesis for gold, silver, uranium, copper, energy, and agriculture, along with explaining the cyclical nature of commodities and why today is when you want to be invested in the sector.

https://www.youtube.com/watch?v=TPvfnFLXm4Q

ITS GETTING MUCH WORSE FASTER. NOW MORE THAN EVER! HOARD GOLD, SILVER, COMMODITIES.

Greg Mannarino:  5-22-2024

https://www.youtube.com/watch?v=ZrIlmI3D-M8

Bruce’s Big Call Dinar Intel Tuesday Night 5-21-24

Bruce’s Big Call Dinar Intel Tuesday Night  5-21-24  

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It is Tuesday, May the 21st. and you're listening to the big call. I'm glad everybody's tuned in. Hopefully you're listening all around the globe to our Starlink satellite system and our star team, or as I call it, I call it sat, sat team meaning, satellite team, and hopefully sat team is doing their thing and getting the call out all over the place – so that’s great news

We're looking forward to having a really good call tonight.   I'm excited about it.  And I can't wait to get started. let's go ahead and pray the call in,

Okay, all right, well, let's see is that four minutes of the hour let's go ahead and get into some intel and see if we can define where we are  you know, I can make this short and sweet and I think I'm inclined to do that.  So let’s say it this way -=

We've got information that there was a meeting last night, I'm going to say yesterday evening and through last night to 64 individuals in Reno. Now this was designed to have  2 of our top people at the top of getting this RV done. One of which you've heard me talk about Judy Shelton was there and another person there, but they were told by a leader. I'm not sure who it was exactly. But they said, Alright, you guys. Get to this meeting in Reno. And decide when the RV numbers are going to come out.

In other words, the emails that we're waiting for in tier three and tier four, for us bondholders and tier three, and tier four, A & B We're B Internet Group, make that decision as to whether this is going to be released either Wednesday or today.

I think we can write today off unless and I've got some other stuff to say about it. But it definitely brings Wednesday tomorrow into play high chance of it and they reached the decision - According to people we had on the ground.

It appears that this could go according to the results of our person on the ground – In Reno – this could go at any time -

Now to start  - I’ll just cut to the easy math between three in the afternoon tomorrow and nine that evening tomorrow night.  If it's tomorrow, and not tonight, so let's talk about that for a second -  

So we got a thirty hour window from 9am  this morning – Eastern -  to six which would put it at 3pm in the afternoon, tomorrow. To 9pm.  And that works.

And it could be a Charlie Warren Thursday, where we get notified  - set appointments and stock exchanges on Thursday. I don't know that but that is very possible.

Now the other intel that we have about relatedness comes from a precious metals broker in New England. That is saying the information he has is showing that this would go later on tonight.

And it could end up manifesting to us in the morning.  It could have come out in the morning.

A rate would be established at the banks at 9am in the morning, the redemption centers in less than five days. So when we did have was that the rate, we're shooting zeros, I believe on Saturday, all across the screen. And then Sunday. They started moving up they started coming on to the screens and changing and coming up in the values.

So it appears that the rates are moving in the direction that we actually expect them to be and we can't say what they are we don't know excactly - but they are supposed to be on the bank screens and on the redemption center screens yesterday and especially today.

So they're moving in the right direction they're populating this expression. Rates are populating and they were moving the expression we heard for redemption center was moving at 90 miles an hour.

The pitcher rates just populating showing movement all across the board. That's probably what happened –

Now. Will they settle in overnight? Will they settle at a place? Monday? I don't know. But let's find out. Generally speaking, that banks that are doing exchanges, the rates will maybe they fluctuate. You might have one rate in the morning and then you might have a bank rate in the afternoon - Stay with that rate. Even if it moves off of it a little bit. That could be a situation we're in.

I don’t know if we are going to  have fixed rates when we go in or whether we're going to have variable rates because they're still being traded up or dow

But whichever it is they're going to be good. they're going to be very good. And I heard one piece of information that we did not confirm it's just one piece that  the contract rate on the dinar is going to be very very high. And the reason that was -  I think they should theoretically offer us - is that because Iraq, remember we have the technology to pull off the natural gas  from theswe oil wells - and that gas on the oil wells. And we taught them technology years ago, probably at least five or six or more years ago -  where they could capture that before you're just losing it into the atmosphere. As you guys know, natural gas or compressed natural gas CNG is very valuable and very affordable.

So  I think they learned the technology how to kap gas from the wells pa In addition to pulling the oil off, but that takes the per barrel price if you will, tire, because the contract rate is based on what a barrel of oil in Iraq can be sold to a buyer like Turkey who's buying oil by the barrel from Iraq, that created a certain - A certain contract rate for us.

Well, you take that the barrel price of oil and add to that the value of the net gas that's being pulled out of the well and you get an enhanced price -  it doesn't mean that the oil is selling for more but you have more value coming out of that well, because that natural gas can be stored, compressed, and sold and use you guys know CNG. Right. That's really a great product recently.

So I think we're going to be very pleasantly surprised by that. In addition, we've had things like around the globe, showing changes in leadership, Switzerland is a new Switzerland, and we've got a new leader in that country -  We've got a new leader in Brazil.

We have a new leader coming in Iran with what has happened in Iran recently and there's another country I believe of Singapore also is sovereign and pulls away from their influence underneath Great Britain

So there's a lot has happened in the last week or so. Even few days. That's moving all these countries into their own sovereignty. I think that's all part of GESARA  and I'm encouraged by what's happening around the world with totally new leadership positions.

So that's what I want to bring as far as that goes

The other thing the Neville Brothers was saying was  that this could go overnight tonight, maybe  - this is a maybe -  maybe  we do wake up to the emails tomorrow -  or maybe not. But that was kind of what one opinion of this broker who was pretty well connected, was saying.

So maybe we get this in the morning. Maybe we get it by noon. Maybe we get it in the afternoon or in the evening - from what we're getting from our source on the ground in Reno.

What I found interesting was everybody left Reno either last night, or  at 6 am this morning  - that’s the report we had from the airport. So it sounds like they got it done. They made a decision. And based on that decision - we should have this overnight tonight or tomorrow – So that’s the latest information that we have had.

I don't have any update to that that was what we received in the morning today. and nothing else has come into to ameliorate that.

And as far as other Intel. You know nothing else is coming to mind. Now, that's as important as what we heard today. And we're all concerned about any of witnesses being released. And now that you have that. I want to be in an attitude of prayer as we pray. the call out tonight.

Let's say these numbers are not Let's say we have a Charlie Ward Thursday meeting set appointments and what does that look like?

And if that happens, we probably won't have another black big call. But we will probably be sending you guys you know calls that are cast with links sent to you by email.

Okay, there's quite a bit to it. So thanks for listening, everybody. I appreciate you. And let's just say and say for this So this information that we got today is reliable and holds up And we're looking forward to getting this very soon. Thank you all Let's pray the call out.

Bruce’s Big Call Dinar Intel Tuesday Night 5-21-24   REPLAY LINK   Intel Begins   1:05:15

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Bruce’s Big Call Dinar Intel Thursday Night 5-16-24   REPLAY LINK   Intel Begins   1:13:23

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Bruce’s Big Call Dinar Intel Tuesday Night 5-14-24   REPLAY LINK   Intel Begins   1:10:00

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Bruce’s Big Call Dinar Intel Thursday Night 5-9-24   REPLAY LINK   Intel Begins   51:51

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Bruce’s Big Call Dinar Intel Tuesday Night 5-7-24   REPLAY LINK   Intel Begins   1:05:15

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Bruce’s Big Call Dinar Intel Thursday Night 4-25-24   REPLAY LINK   Intel Begins   1:13:20

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Bruce’s Big Call Dinar Intel Tuesday Night 4-30-24   REPLAY LINK   Intel Begins   59:25

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Bruce’s Big Call Dinar Intel Thursday Night 4-25-24   REPLAY LINK   Intel Begins   1:21:11

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Bruce’s Big Call Dinar Intel Tuesday Night 4-23-24   REPLAY LINK   Intel Begins   1:05:15

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Bruce’s Big Call Dinar Intel Thursday Night 4-18-24   REPLAY LINK   Intel Begins  58:58

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Bruce’s Big Call Dinar Intel Tuesday Night 4-16-24   REPLAY LINK   Intel Begins   58:48

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Bruce’s Big Call Dinar Intel Thursday Night 4-11-24   REPLAY LINK   Intel Begins 1:01:31

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHYay

Bruce’s Big Call Dinar Intel Tuesday Night 4-9-24   REPLAY LINK   Intel Begins   1:03:30

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Iraqi Dinar Today Video Update – Wednesday AM 5-22-24

Iraqi Dinar Today Video Update – Wednesday AM 5-22-24

Wells Fargo Confirmed Iraqi Dinar RV – 4:47

Good Time to Change the VND – 3:57

Its, Massive ,Iraqi Dinar Surprising Announcement – 4:24

Chase Bank & US Treasury Windows Open - IRAQ Done - Sudani Announced Worldwide – 4:36

Wells Fargo Confirmed Iraqi Dinar RV – 4:47

https://www.youtube.com/watch?v=xWRe0kBh1VM&t=3s

Good Time to Change the VND – 3:57

https://www.youtube.com/watch?v=YYyRnWSinvs

Its, Massive ,Iraqi Dinar Surprising Announcement – 4:24

https://www.youtube.com/watch?v=XEWbsCLeXek

Chase Bank & US Treasury Windows Open - IRAQ Done - Sudani Announced Worldwide – 4:36

https://www.youtube.com/watch?v=gx22sJZuqAk

Zimbabwe Applies For ISO Code For ZiG Currency (5/22/24)

TNT:

Harambe:  Zimbabwe Applies For ISO Code For ZiG Currency | Pindula (5/22/24)

Reserve Bank of Zimbabwe (RBZ) deputy governor Innocent Matshe said that the central bank is in the process of applying for an International Organisation for Standardisation (ISO) code for the Zimbabwe Gold (ZiG) currency as it moves to make the unit a stand-alone currency, reported.

ISO currency codes are three-letter alphabetic codes that represent various currencies used worldwide. These codes are essential for currency trading and international settlements.

When combined, they form the symbols and cross rates used in financial transactions. For instance, USD stands for the United States Dollar, EUR represents the Euro, and JPY denotes the Japanese Yen.

The ISO currency code for the defunct Zimbabwean dollar was ZWL.

Speaking at a breakfast meeting hosted by the Zimbabwe Economics Society in Harare on Tuesday, Matshe said:

According to our economic strategy, we believed that the success of our currency, ZiG, would depend on a limited management system, maintaining a tight monetary policy stance, controlling money supply and creating demand for the domestic currency.

This would demonstrate policy consistency, build trust in ZiG and facilitate effective communication. Let me confirm that ZiG is indeed a standalone currency.

We are currently in the process of applying for an ISO code and we expect no deviation from our initial protection policies.

Matshe claimed that Zimbabwe’s economy has been growing despite exchange rate fluctuations and inflation. He said:

It is essential to have an affordable base currency. We cannot sustain a dual currency situation indefinitely. Zimbabwe’s economy has been growing despite past instabilities, including currency fluctuations, exchange rates and inflation. However, we need to address these issues.

Matshe also pointed out that it was critical to include all sectors in currency reform, including those outside the traditional financial and banking sectors. He said:

The introduction of ZiG aimed to end the instability and create a standardised currency. Without robust reforms, our economy would not have grown significantly.

We need a framework that harnesses the potential of all sectors, including those outside the traditional financial and banking sectors.

Inclusivity is crucial and we must understand that digital finance is essential for a 21st-century economy. 
We have made progress in electronic financial activities, but we need to think seriously about digitalisation.

Certainty and stability in times of crisis allow for long-term planning and investment, which is key to industrialisation.

https://www.pindula.co.zw/2024/05/22/zimbabwe-applies-for-iso-code-for-zig-currency/

Why the Federal Reserve Fears This New Bill to End Its Power: Awake-In-3D

Why the Federal Reserve Fears This New Bill to End Its Power

On May 21, 2024   By Awake-In-3D

Opening the door for an American MONETARY AND CURRENCY RESET that ends the Fiat Financial System

In This Article

• Ending the FED: This is the Way

• H.R. 8421 and its Purpose

• Representative Thomas Massie’s Motivations

• Key Supporters and Historical Context

• Potential Impact on the Economy

A strong argument can be made that the Federal Reserve Central Banking system has enabled every financial crisis since its creation in 1913.

Initially established to stabilize the American monetary system, the Federal Reserve’s primary goal has been to control the U.S. dollar.

Over the years, the Federal Reserve has implemented strategies such as removing the dollar from the gold standard and monetizing the national debt issued by the U.S. Treasury.

Despite its significant monetary control, the Federal Reserve is not a government entity; it is a private bank owned by a collective of private board members and the largest banks in the United States.

This private ownership raises concerns about the Federal Reserve’s true motivations and accountability.

The introduction of the Federal Reserve Board Abolition Act faces formidable opposition from these powerful Banksters, who will undoubtedly fight to prevent this bill from becoming law.

This bill, sponsored by Representative Thomas Massie (R-KY), seeks to dismantle the Federal Reserve System, aiming to address the inflationary pressures that have plagued the American economy.

With substantial support in the House of Representatives, this legislation could significantly alter the nation’s financial landscape.

Introduction of H.R. 8421 and its Purpose

H.R. 8421 proposes the abolition of the Board of Governors of the Federal Reserve System and the Federal Reserve banks.

It also calls for the repeal of the Federal Reserve Act of 1913, the law that established the Federal Reserve System.

This significant move aims to dismantle the central bank, which Rep. Massie and his supporters argue has been responsible for severe economic issues, particularly inflation.

Representative Thomas Massie’s Makes His Case

Rep. Massie has been vocal about his concerns regarding the Federal Reserve’s role in the economy. He argues that the central bank’s policies during the COVID-19 pandemic, which included creating trillions of dollars and lending them to the Treasury Department, have led to unprecedented deficit spending.

According to Massie, this “monetizing of the debt” has devalued the dollar and fueled the inflation that is now impacting millions of Americans.

 “Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” said Massie.

He believes that ending the Federal Reserve is the most effective way to curb inflation and protect the financial well-being of retirees and savers.

Key Supporters and Historical Context

The Federal Reserve Board Abolition Act is backed by several prominent members of the House, including Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), and Rep. Josh Brecheen (R-OK), among others.

This legislation echoes previous efforts by former Representative Ron Paul (R-TX), who first introduced a similar bill in 1999 and continued to champion the cause until 2013.

Rep. Massie’s reintroduction of this bill is also complemented by his Federal Reserve Transparency Act of 2023, which aims to audit the Federal Reserve.

This dual approach seeks to both dismantle and scrutinize the central bank, reflecting a broader movement among certain lawmakers to reduce the power and influence of the Federal Reserve.

Impact on the US Economy

If enacted, H.R. 8421 would initiate a one-year period during which the Federal Reserve System would be dismantled.

During this time, employees would receive compensation, and the assets and liabilities of the Federal Reserve would be managed and liquidated. The Director of the Office of Management and Budget would oversee this process, ensuring an orderly transition.

The abolition of the Federal Reserve could lead to significant changes in the U.S. financial system. Proponents argue that it would eliminate the inflationary policies that have eroded the value of savings and increased economic inequality.

Critics, however, warn that such a drastic move could destabilize financial markets and lead to economic uncertainty.

As if we are not already in unprecedented times of financial uncertainty?

The Bottom Line

The introduction of the Federal Reserve Board Abolition Act by Rep. Thomas Massie is a bold proposal aimed at fundamentally restructuring the U.S. financial system.

With significant support in the House, this legislation represents a critical juncture for economic policy and monetary independence in America.

We all need to support this Bill with passion. Let your congressional representatives know you want to END THE FED.

• Read the full text of the Bill here: https://massie.house.gov/UploadedFiles/EndTheFed.pdf

• Read Representative Massie’s Press Release here: https://massie.house.gov/news/documentsingle.aspx?DocumentID=395644

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“Coffee With MarkZ” Wednesday Morning Chat 5-22-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Welcome to Wonderful Wednesday

Member: Good Morning Marvelous mods, Mark, and RV’ers

Member: With Iraq half way through their 3 year budget using the same rate- Isn’t it feasible they can continue that until 2026 and then change the rate?

MZ: Except for the projects they are kicking in this year. If you look at the 2024 and 2025 budget-there is more projects . They are going to have to do something or they are going to end up billions in debt..

MZ: That is one thing for Europe, Japan and the Us US who can willy, nilly print more whenever they want…. But, that will not work for Iraq.

Member: Frank said last night that Iraq is working out of 2 sets of books. One at 1310 and one with a float of over $3.00 US

MZ: I whole heartedly agree with Frank. It’s the only thing that makes logistical sense.  When I see the projects and some of the moves ane ways the contractors are getting paid…I very much believe they are operating out of 2 sets of books until they get the opportunity to announce it to the world. Then is should be one set of books.

Member: El Sudani is planning on building 8 new cities. This will not get done at a program rate.

Member: It is the US holding it up not Iraq. Maybe Iraq can't go until the USTN has been announced.

MZ: I think the US is desperate enough to let Iraq move forward….

Member:  I think it’s the Chinese elders holding us back. Imho

MZ: They may be holding us back waiting on the “clean up”? One of the things Mr. C and Interpol said is that one of the key sticking points has been the level of disclosure the elders are insisting on and the level most western leaders won’t admit to even though it is factual.

Member: I have waiting for the “Bad” guys to be arrested for 10 years! I’m sure others have been waiting even longer.

Member: It sure looks like Iraq is waiting for other countries get ready for RV. Just waiting for that green light.

Member: this nation can't continue this way any longer… let's reset!!

Member: I don’t think the RV will happen until the end of the year

MZ: Do you think our financial system will last until the end of the year? I don’t.

Member: I don’t think the financial system will last until July 4th….much less end of year.

Member: Hopefully this is our big weekend….

Member: I think we exchange during fiat system, hence high rates paid in fiat, then asset backed currencies enter and our accounts turn 1:1 IMO.

Member: ​​Isnt today the day government employees get an EAS or EBS…Like the IRS and other gov organizations?

Member: Do you believe bonds have started?

MZ: I very much believe bonds have started. Do I Think individual bond holders have been paid- No. Do I think there are bond meetings today where they are called in over the last 24 hours to be there in person- yes. So I very much believe bonds have started.  

MZ: I know of bond facilitators that have spendable money. I know people working on humanitarian projects and their bonds are solely making maes and purchasing equiptment. So I am confident money is moving. I don’t think it’s moving for profit bondholders yet.

What is a paymaster or facilitator?

MZ: They are the link between bond buyers and sellers. A facilitator ccnnects the 2 parties. Think of them as the closing attorney at a real estate transaction between the person selling the home and the person buying the home…..….he makes sure all fees are paid. Money is where it needs to be…..That is a paymaster.

MZ: Short bank story: In a nutshell (not verbatim) A person goes to her bank and wants to have a conversation. She could tell the manager is very uncomfortable. she asks him if there are things he cannot say…….he nods his head yes. She starts asking him questions about our currencies and our exchange. The manager was shaking his head yes and no…meanwhile saying the things the bank wants him to say.

MZ: Are you expecting new currency ?( he nods yes) Is it asset backed (He nods yes) Are you going to get to exchange dinar, dong ect? (he nods yes) Are you trained? (he nods yes)  Meanwhile he has to say “It’s just a scam”  If he said anything else he might get in trouble.

Member: Sure sounds like he was bugged…or someone is listening to make sure they don’t leak info doesn’t it?

Member: My Husband went to Chase yesterday to ask about the RV and was told to come back Thursday.

Member: Any 28% capital gains tax on currency exchange?

Member: Dear God – let’s hope not.

Member: As of right now it's smart to assume there will be capitol gains paid to the IRS at tax time from our exchanges. Biden wants 44%... If that happens we can hope to get it back with Nesara.

Member: Hope for the best (no taxes)  but prepare for the worst.

Member: I wonder what's up with Biden resigning the iraqi doc. EO 13303 ….I thought Iraq was free and sovereign and the US couldn’t mess with them anymore????

Member: With YOUR PREVIOUS excitement and tight lipped but "hopeful" podcast, it seemed good was coming soon...pray it into existence

​​Member: Lord, we are so weary, strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out and be beautiful examples of your unconditional LOVE!

MZ: MilitiaMan is going to join us tomorrow morning….to give us the latest.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=AeXTHEZIwP4

Currency Insider Video Update Wednesday AM 5-22-24

Currency Insider Video Update Wednesday AM 5-22-24

Iraqi Dinar Good Output After IMF Announcement – 2:28

Iraqi Dinar Have Rocket Excitement $3.1 Plus – 1:49

Iraqi Bank Screen Sparking With New Iraqi Dinar Rates – 2:12

Iraqi Dinar Good Output After IMF Announcement – 2:28

https://www.youtube.com/watch?v=97Vb_hJVZP4

Iraqi Dinar Have Rocket Excitement $3.1 Plus – 1:49

https://www.youtube.com/watch?v=UA2JLt3d6bA

Iraqi Bank Screen Sparking With New Iraqi Dinar Rates – 2:12

https://www.youtube.com/watch?v=_8zBO7TGuAo

Here’s Why I Regret Being So Extreme Saving Money

I’m a Super Saver: Here’s Why I Regret Being So Extreme Saving Money

G. Brian Davis   Sat, May 18, 2024

Most people spend too much and save too little of their paycheck. But it’s possible to go too far in the opposite direction.

While saving more money helps you build wealth and passive income streams, and possibly reach financial independence at a younger age, extreme savings and frugality come with a cost. Before budgeting for a high savings rate, beware of the following pitfalls.

Missed Experiences with Loved Ones

Life is meant to be shared. Sometimes that means spending money to share experiences with your family and friends.

“In their relentless pursuit of savings, I’ve seen many people sacrifice cherished experiences, personal growth opportunities, and meaningful connections with loved ones,” said Abid Salahi, co-founder of FinlyWealth. “One particular client of mine, driven by an insatiable desire to save every penny, missed out on attending important family events and cultivating hobbies.”

Instead of being exclusively focused on saving, he advised, “Prioritize quality time with loved ones, engage in hobbies and activities that bring you joy, and cultivate a mindset of abundance rather than scarcity.”

Tolls on Personal Relationships

Missing out on shared experiences aside, hardline stances can impact your personal relationships.

Carl Rodriguez of NX Auto Transport has seen it firsthand. “One lesser-known downside to extreme frugality is the potential impact on relationships. Saving aggressively can sometimes lead to conflicts with friends or family members who have different spending habits or expectations.”

That proves especially true for your romantic relationships, where your finances intertwine with another person’s. “It’s important to find a balance and communicate openly about financial goals to avoid strain on relationships.”

Lack of Investment in Your Children

The better experiences and education you provide your children, the more likely they are to grow into successful, balanced, intellectually curious adults. But don’t let your desire to save money interfere with being present for your kids.

Mado Eldemrdash from Tireonway.com weighs his own regrets about investments in his children. “I worry it has affected my children, the quality of schools and clubs we’ve sent them to. All these financial behaviors can impact our quality of life and may affect my children’s professional futures.”

Neglected Personal Development

To Read More:

https://finance.yahoo.com/news/m-super-saver-why-regret-160237203.html