In the movie Jaws, Police Chief Brody is helping Captain Quint shovel fish entrails into the water to attract the giant shark, and at one point the shark arrives and surprises Brody, to which he responds to Quint “You’re going to need a bigger boat”.
An analogy can be drawn between this and the current money printing with the Federal Reserve Bank, which as I have continually discussed as a major trend for the future, will be nearly unlimited monetary printing until the value of the currency itself crashes. I have explained this before in the Shoebat archives, because while the justification is called “Modern Monetary Theory” (MMT), it is just another way of justifying printing the currency to its destruction for political purposes. It is obvious that debts have to be paid, and that unpaid debts lead to collapse. The problem is that if the US were to disown her debts without being able to blame somebody else, it would crash the financial system so hard it would take down the world and could not be used for political gain, but would create a power vacuum. Instead, by printing, it causes the same collapse, destroying those who save their money but allowing the blame to be shifted to a third party, and in doing so to say “so-and-so” did this, and thus use the chaos as an excuse to dump the currency, start a new dollar bought back into at a discounted rate, clear the national debt, and militarize against the other nation, which as I have stated will likely be China. This is the reason why China is being called a “currency manipulator” when in reality the US is the biggest currency manipulator possibly in all of history, because the US is planning, most likely, on blaming her economic problems on China so to release herself of her debt obligations from China, resulting in her getting a lot of stuff for free while leaving China with a pile of worthless dollar and I-O-Us, thus also massively impacting her economy in the process.
I said the third stimulus check is going to be approved, because it HAS to for political reasons. It has NOTHING to do with politicians, but rather the continuity of government. Likewise, I said that one may see more checks coming, including a possible UBI to follow, and sure enough, CBS reports that there is increasing talk to not only pass the third check, but to institute a UBI.
Some Senate Democrats are urging President Joe Biden to overhaul the nation’s approach to handing out stimulus payments, the direct financial relief deployed by Congress to help millions of Americans affected by the economic collapse that followed the coronavirus pandemic.
Instead of providing discrete rounds of stimulus checks that are negotiated each time and arrive months apart, the federal government should provide recurring checks to help families get by until COVID-19 is over, the 10 lawmakers said in a letter released on Tuesday.
The request comes as the Senate takes up Mr. Biden’s $1.9 trillion relief package this week, which would include a third round of stimulus checks that would direct $1,400 to millions of eligible Americans.
Congress distributed $1,200 checks a year ago under the Coronavirus Aid, Relief and Economic Security (CARES) Act, and sent an additional $600 payment in December as part of a broader stimulus bill. The senators didn’t specify an amount they are seeking for monthly direct aid.
The idea of issuing recurring stimulus payments as a way to speed up the economic recovery has been championed by progressives and some Democrats. In January, more than 50 House members urged the Biden administration to back a proposal for $2,000 monthly payments until the pandemic ends.
Supporters of the idea point out that financial hardship remains widespread around the U.S. almost a full year after COVID-19 effectively shuttered the economy. Despite the ongoing recovery, a third of adults are struggling to pay their bills, while employers have slashed roughly 10 million jobs from their payrolls during the crisis, according to an analysis by the Center on Budget and Policy Priorities.
“The decades of research on stimulus checks back up the argument that much of this is spent, which helps stimulate the economy, and sources like the Census show there is immense need” for more funding despite the fitful recovery, said Claudia Sahm, an economist who has worked at the Federal Reserve and the Washington Center for Equitable Growth.
She added, “The reason we aren’t in the 1933 world when things were really bad is because the federal government and Federal Reserve stepped in — but we aren’t out of the woods yet.” (source)
The fact that a UBI is being talked about over and over likely means it will happen, and it is not because politicians care. It is in order to stop the inevitable collapse of the financial sector before it is politically opportune. Because of this reason, the trend of printing money, and with that, higher prices for all goods and services related not to actual demand (inflation in the real sense of the definition) but due to the devaluation of the currency from printing and a loss of faith in it as a viable, long-term medium of exchange and store of real value, will continue to grow.
So buy more ink, because the Federal Reserve Bank is going to need a bigger printer, since it is going to be, proverbially speaking, running it day and night printing money in the form of “stimulus” until it stops, and when it stops, that will be the time to pay close attention, for it means that dire economic problems not only are going to happen, but that a serious global conflict is right on the doorstep of the human race.