The Phaserl


Scams & Fantasies – An Even Dozen

by Gary Christenson, Deviant Investor:

Steve Saville: “…there is no limit to how much new money the central bank can create.”


  • The Federal Reserve – the central bank of the United States – issued over $16 trillion in loans, swaps, guarantees and more following the 2008 financial crisis. They also increased their balance sheet by nearly $4 trillion – thanks to their (digital) printing press. Much of that newly created currency was used to purchase dodgy bank debt that was worth little. “Money from nothing” is their specialty and they used it to “stimulate” the economy, a fantasy. The ECB and BOJ indulged in the same fantasy/scam.

  • The Swiss Central Bank has created billions in new Swiss currency and used that currency to purchase the stocks of corporations. They created the currency from nothing, thereby diluting all existing Swiss currency units, and then purchased assets that have real value. Something from nothing is used by all central banks and is both a fantasy and a scam.
  • If the Swiss Central Bank can create currency from nothing and purchase Facebook stock or gold mining stocks, other central banks can create currency from nothing and purchase physical gold from anyone who will sell the metal. Creating currency and using it to purchase gold is a great scam for those who can get away with it.
  • A person speaking broken English called a homeowner. He claimed he was from “The Federal Government Grants and Treasury Department” and informed the homeowner that he had been randomly selected to receive a grant from the US government for $9,200. All the homeowner had to do was … something about his credit card … a scam.
  • The US government owes nearly $20 trillion in official debt. Unfunded liabilities are considerably more. Total debt in the world, not counting unfunded liabilities, exceeds $200 trillion. If the debt must be “rolled over” but can never be paid, is it real? When will institutions no longer pretend that debt is real and reject the fantasy of repayment?

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