The Phaserl


Central Banks Continue Their Debasement

from The Daily Bell:

A heavily divided Federal Reserve left short-term interest rates unchanged but said the case for a rate increase “has strengthened”, in a strong signal that a move is likely before the end of the year … Three out of 10 of the US central bank’s rate-setters voted against the decision, and called for an immediate increase. But the Fed said that for the time being it wanted to keep policy on hold as it waits for further evidence of progress towards its objectives, leaving the target range for the federal funds rate at 0.25 per cent to 0.5 per cent. -Financial Times

Nothing happened again on Wednesday just as predicted. The Fed didn’t move and slightly more surprisingly, the Bank of Japan didn’t do anything either.

But as we pointed out yesterday, such inaction is not surprising. The world is stuck in a holding pattern when it comes to money. Central banks will continue to print around the world until a final catastrophe is triggered and elites attempt to generate an entirely new monetary system, probably featuring the SDR currency basket as worldwide “money.”

Central banks are mechanisms of monetary destruction. Since the advent of central banking, the dollar has been debased to one or two cents of its former value. And the world has been stuck in a quasi-depression for some seven  years. This is not a coincidence. The whole point of central banking is to create economic pressure that demands further – centralized – “solutions.”

In this case, sooner or later, there will be significant price inflation and perhaps credit collapses as well. Central banks may have printed up to $50 trillion in excess currency since 2008 and sooner or later this money will circulate.

While the outlook is grim indeed for the larger global economy, money metals are shining a good deal more brightly. The pressure on gold and silver prices relative to the dollar has abated a little with Deutsche Bank’s admission of metals price manipulation.

The Motley Fool tells us:

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