Dear Friends,
It seems to me, the inflation problem is entirely the elite’s fault. Energy was cheap, until Biden’s first days in office, and issued his executive orders severing America’s energy carotid. Even with the insane money printing the Federal Reserve has done in the last decade, to the tune of trillions, inflation was tame. Biden and democrat governors, as well as world leaders, loosed shortages with their shutdowns. Shortages led to inflation and then the pent up tension of all those dollars began to unwind. The reaction of the elite to their Russian – Ukraine proxy war is inept at best, and most likely intentionally malevolent. That they blame everyone else for their “ineptitude,” to be kind, is how a baby acts. Proving the elite today have the maturity of a toddler. Not the best qualification for leadership.
The reason the Federal Reserve was able to print so many dollars is because it is the world’s reserve currency and is/was exclusively used to trade oil. This created an inexhaustible demand for dollars. Any nation that seeks to trade needed them as well as to purchase energy. With that as the paradigm almost no amount of monetizing the US debt would tank the dollar. During the 2008 financial crisis the Federal reserve printed over 30 trillion dollars and it didn’t make a blip on inflation. Some people claim that 80% of all dollars ever printed were printed in the last decade. Even with all those trillions upon trillions printed the US had low inflation. Now we are seeing record inflation. Why? Because of the shortages the lock downs created. Now those shortages have created the expectation of inflation.
The Russian Chinese alliance, as well as Biden’s ineptitude has scuttled the Petrodollar. Russia is demanding other nations pay for their energy in Rubles. Many are balking, especially Europe. They want to pay for energy in their own worthless currency. Others want desperately to use dollars since they have so many and they are rapidly losing their value. Nevertheless Europe and other nations will have to pay in Rubles else go cold. Biden’s inept or malevolent policies have empowered Putin and Xi to undermine the dollar in a myriad of ways. Using the international settlements system as a weapon has exposed it as a tool of the western elite to control the world. Shockingly other world leaders are not cool with that. As a result they are looking for alternatives… like the new Chinese system.
Using the SWIFT international settlements system as a weapon has discredited it. If you were an international leader, would you use a system that can be turned against you and your nation, at the whim of a psychopath? The SWIFT system was one of the primary ways the US dollar was kept the world reserve currency. Now that it has been exposed as a weapon, every nation will be searching for a way around it. Plus, why would any country keep US dollars as reserve now? With its decrease in value approaching the speed of sound those reserves are rapidly becoming worthless. Because of Biden and the Western elite the US dollar will go the way of the Greenback and the Continental. Both were fiat currencies and became standing jokes… as the Dollar will soon be.
Biden is an idiot and always has been, but he is not in charge, someone else is. Maybe the faction with monopoly control of the Administrative state, didn’t count on discrediting the SWIFT system by using it as a weapon, perhaps they were surprised that Russia, China and Saudi Arabia would conspire to undermine the petro dollar, and it’s possible that Russia’s response to NATO amassing an army of over 100,000 troops in Poland and an additional tens of thousands in Baltic Republics, but if so, doesn’t that scream incompetence? Else they did it intentionally. If that is true they are traitors and dearly deserve the penalty for that crime. Regardless, everything that is going wrong, is the fault of the progressive faction that pulls Biden’s strings.
Sincerely,
John Pepin
