The last few weeks of global hysteria has shown there’s been a mad dash for dollars and various fiat currencies. Moreover, central banks have tried to quell cash liquidity issues by injecting trillions into the hands of private banks and hedge funds worldwide. As the financial system shudders with more than $250 trillion in global debt, the government’s monetary system looks more like a crumbling Ponzi scheme every day. Charles Ponzi would be proud of the world’s fiat system, as today’s monetary framework requires an endless supply of victims to sustain confidence in currencies backed by nothing.
Central Banks Pump Trillions Into the Hands of Financial Institutions Trying to Establish Confidence in the Fiat Ponzi Scheme
The coronavirus scare has created havoc across global markets and in response, central banks worldwide have injected trillions into the hands of private banks and corporate entities. For instance, the Federal Reserve revealed it would be funneling $500 billion per day into repo markets until Friday and the central bank started repo operations on Monday. Bank of England’s governor Andrew Bailey told the press on Wednesday that the bank was “prepared to pump unlimited money into the financial system.”
The Bank of England’s Andrew Bailey said he’s willing to pump unlimited QE into the hands of financial institutions.
There are also at least 20 well known central banks that have injected vast amounts of fiat into the hands of financial institutions. In the U.S., partisan Congress members and President Trump have approved a trillion-dollar package to combat the coronavirus effect on the economy. The federal government is even talking about ‘helicopter money’ by putting $1K or more into the hands of American residents.