The Establishment Defends The Federal ReserverEconomy | The Central Bank System is The Deep State
As An "Institution Of Government" - Episode 1707a
(Nov 4, 2018)
- Former Fed Chair Janet Yellen repeats what the Fed has said about Bitcoin, it’s useless and will not be around for long, which means that are afraid of it and if people start to use it their system is done.
- Obama tries to convince the American people that he is responsible for the economy not Trump.
- Bolton pushes the narrative that the debt is national threat.
- The establishment pushes back and says the Fed is important it is an institution of government.
Bitcoin Is ‘Anything but Useful’ Says Ex-Federal Reserve Chair Janet Yellen
- Bitcoin is “anything but” a useful store of value, former U.S. Federal Reserve chair Janet Yellen stated in a speech
she went on to say:
“It has long been thought that for something to be a useful currency, it needs to be a stable source of value, and bitcoin is anything but,” she claimed, continuing...
“It’s not used for a lot of transactions, it’s not a stable source of value, and it’s not an efficient means of processing payments. It’s very slow in handling payments. It has difficulty because of its very decentralized nature.”
- Yellen’s speech Monday echos not only her own previous comments on crypto, but also those made earlier this month by economist Nouriel Roubini, an outspoken cryptocurrency naysayer who foresees the entire ecosystem failing.
- Commentators have taken Roubini to task over his comments, arguing his lack of understanding of decentralized cryptocurrency has led him, like Yellen, to draw false conclusions about its resilience.
- “I can see a bubble when there is one – and to me, this entire space has been the mother and the father of all financial bubbles and now it’s [going to] burst,” he told.
Obama: When you hear economy is improving, ‘remember who started it’
- Former President Obama on Monday urged a crowd in Las Vegas to “remember who started” the current economic boom, reminding them that the country recovered from the Great Recession during his presidency.
- “By the time I left office, wages were rising, uninsurance rate was falling, poverty was falling, and that’s what I handed off to the next guy,” he said.
John Bolton: National Debt Is An ‘Economic Threat’ To The US
- In an incredibly obvious statement, National Security Advisor John Bolton has declared the high level of national debt an “economic threat” to the United States.
- “In the near term, the budget deficit problem is in the discretionary spending,” Bolton said. “The entitlements come in a few years and that problem’s going to have to be addressed.