The Battle for Trust

Today, in the midst of what can only be described as a nearly apocalyptic stream of recent events [including COVID-19], announcements and actions in the world, the US Federal Reserve boldly promised something we intuitively know is not good ... it will immediately create [from thin air] and deliver [indirect and indirectly] unlimited and unending amounts of money in the form of fiat credit to everyone who needs a loan ... which includes using that new money to buy up financial assets [including stocks and bonds] of all types from all sorts of parties in complete violation of the law ... to save "us" from economic collapse. Does this sound right to you? Does this sound pleasing to you? Do you want to believe it? After all, won't it help? How can it hurt?

The Fed's unrestrained lawlessness, implied for decades, has been suddenly unmasked by the unanticipated exigencies of  COVID-19. Indeed, it is the essence of the "Greenspan put" subtly promised by "the Maestro" himself but gladly inherited, zealously reaffirmed and serially expanded by Bernanke, Yellen and now Powell. Indeed, one worshipful commentator [who advocates for an even more uninhibited "modern monetary theory"] has called the Fed's unprecedented and brazen declaration "a bridge to the other side of an act of God" ... think about that ... the Fed can now neutralize God.

Nevertheless, in spite of the ECB's Draghi's proud utterances or, perhaps, out of some sort of final act of respect for reality, deference to the rule of law or desire not to alarm the public, the financial powers that rule monetary, fiscal and economic life in America have thus far refrained from such blasphemy in a nation that has "In God We Trust" printed on its money.

But no more it seems. Have we reached the end of FA Hayek's "road to serfdom" ... is what lies before us a finally and fully undisguised tyranny? The questions that remain seem to be

• how long the general public will continue to trust in the unrestrained oppression and guile of the Federal Reserve and
• how long nature [and nature's God] will allow such a misplaced trust to preserve the tattered shreds of normalcy before they fall away to reveal something we did not anticipate and do not want.

We have, perhaps, been conditioned and are now obliged to believe the lie that will usher in what must come ... to our complete and utter ruin.

The Consequences of Trusting in Oppression and Guile

I hope I am wrong. But if I am not ... to those with second thoughts who, in the coming hours of extremis, cry out "God help us", let's pray He does not reply, "I tried ... but you would not." Is 30:15

The undemocratic socialists in the closet

"In total, this would amount to nearly $4.5 trillion through April 13 that the Fed is offering to create to bail out Wall Street, repo market participants, the asset holders, the banks, and Corporate America. It would more than double the already re-ballooned balance sheet (currently $4.3 trillion). It could push the balance sheet to nearly $9 trillion by April 13."
As Everything Bubble Implodes, Frazzled Fed Rolls Out Fastest Mega-Money Printer Ever, up to $4.5 Trillion in Four Weeks, Wolf Richter, Mar 2020

The accusation

As Bernie Sanders "comes out" openly advocating democratic socialism as the remedy for various alleged sociological injustices, he is pilloried by a holy host of bankers, capitalists, politicians and pundits on the right and left alike who

• sanctimoniously denounce socialism as anti-American, tried-and-failed, unjust, ungodly ... and any other pejorative modifier they think might stick in the public mind
• while they secretly embrace [and luxuriate in] the vilest forms of undemocratic socialism known to man: enriching themselves through the surreptitious plunder of the life-savings and every-day wage levels and purchasing power of an unsuspecting global public via ad hoc, lawless, ponzi schemes of central bank fiat credit and private bank fractional reserve lending.
  
  

The conspiracy and the ignorance

That this sanctimonious hypocrisy goes unchallenged is the result of both a carefully closeted conspiracy among those who perpetrate and profit from it and a publicly promoted ignorance among those who are being continuously violated and victimized by it. If you want a modern day example of the organizational properties and methods by which closeted crimes are committed, think of the various types of players and conditions Jeffrey Epstein’s sordid schemes required.

The answer

When Jesus walked the earth it was widely reported that he welcomed sinners, prostitutes and tax collectors while he scourged scribes, pharisees and money changers. Did he simplistically approve of the former and reject the latter? No. Rather he could communicate his call to repentance and offer of forgiveness to those whose sins were public ... but not to the hypocrites who condemned public sinners while committing their own sins secretly in carefully maintained sociological closets.

AOC recently wondered, on the record, what Jesus would do if he walked into a session of the US Congress and saw the progressives gathered on one side facing their establishment accusers on the other. I don't know what you think he would do, but I have no doubt because he showed and told us in John 8.

Once the closeted undemocratic socialists that publicly condemn the open democratic socialists finally "come out" and "come clean", they will be able to help misguided progressives [and the naive public] "see the light". But until then, they are only heaping hot coals on their own heads when they condemn socialism ... and the conflagration they have already kindled is burning very hot [ ... the world is on fire].