BofA: Fed Will Use Digital Dollars To Unleash Inflation, Universal Basic Income And Debt Forgiveness

When we recently described the upcoming “Unprecedented monetary overhaul” which will come in the form of the Fed sending out digital dollars directly to “each American”, we explained that “absent a massive burst of inflation in the coming years which inflates away the hundreds of trillions in federal debt, the debt tsunami that is coming would mean the end to the American way of life as we know it. And to do that, the Fed is now finalizing the last steps of a process that revolutionizes the entire fiat monetary system, launching digital dollars which effectively remove commercial banks as financial intermediaries, as they will allow the Fed itself to make direct deposits into Americans’ “digital wallets”, in the process enabling truly universal basic income, while also making Congress and the entire Legislative branch redundant, as a handful of technocrats quietly take over the United States.”

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In short, we laid out the Fed’s true reasoning behind the coming Digital Dollars not as how Fed Chair Powell recently described them, which as a reminder was as follows:

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Faster and cheaper transactions

Addressing a decline in the use of physical currency

Modernizing the payments infrastructure

Reaching consumers who have been traditionally underserved by financial institutions

… but as a short circuit to a clearly broken monetary transmission mechanism, one which seeks to facilitate universal basic income and unlimited helicopter money, by completely overhauling how money reaches Americans.

www.zerohedge.com/markets/bofa-fed-will-use-digital-dollars-unleash-inflation-universal-basic-income-and-debt

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