In 2020, public health emergencies were issued en masse, without foresight and with no consideration of the net harm these discriminatory lockdowns would impose on small businesses and the working class. This led to an unemployment crisis, as small businesses were shuttered and corporations left to profit. As people’s lives were upended, the Federal government was compelled to pass a series of spending bills that redistributed money throughout the economy. The cash was helicoptered in via one-time payments to families, forgivable loans to businesses, large unemployment checks, massive drug company investments, and other corporate bailouts. As Americans got a taste of socialism and narco-state dependence, the Federal Reserve has been plotting a new centrally-planned economic system that would circumvent Congress and the traditional banking system using a new digital dollar.
Federal Reserve working on a new monetary system, digital currency
Right now, Federal Reserve bankers are preparing a new monetary system that is a sophisticated form of socialism. This system would be set up to deliver a new digital currency directly to Americans. The system would redistribute the new currency based on economic metrics and criteria established by the central economic planners themselves.
Simon Potter, leader of the Federal Reserve Bank of New York markets group, and Julia Coronado, a former economist for the Fed’s Board of Governors, are two of the insiders trying to innovate the redistribution of money through a new digital currency. The two insiders have proposed a monetary tool called recession insurance bonds. When the economy falls into a recession, the insurance bonds would kick in and money would be wired instantly to Americans based on a pre-determined calculation.
This system would put a new technocratic government in charge, not beholden to the people or their representatives. This new government of economic planners would rule over Congress, bypassing spending bills, disregarding inflation, while doing away with any semblance of balanced budgets. Congress would no longer have the power of the purse. The technocratic government would analyze the GDP and set aside a set percentage of GDP that would then be divided equally to households in a time of recession or market instability. These recession insurance bonds would essentially be zero-coupon securities — a contingent asset for all households that could be activated in a time of crisis.
The central economic planners would determine what constitutes a crisis. For example, a .5 percentage point increase in the unemployment rate could be the trigger that allows the Fed to deposit funds directly into American’s digital wallets. The new currency could then be monitored and tracked. The economy would be dictated, with no anonymous physical currency in the hands of the people. The funds could potentially be shut off completely if Americans do not do what is required to participate in the greater economic and social system put in place.