UPDATE: The Cleveland Fed sent us the following message “Mester was misquoted about helicopter money. Please see correction: http://ow.ly/8zQe302hAiR” the link leads to the following tweet – “Australian media outlet corrects report to accurately reflect #LorettaMester‘s policy views.”
Fed Official Ridiculously States That “Helicopter Money” Is A Valid Option by Nathan McDonald, Sprott Money
The below statement, although sounding like something you would read on a conspiracy-themed blog, is not fiction, but reality. It was uttered by an official – and not just any official. The below statement was uttered by the Fed’s Loretta Mester:
“Helicopter money could be considered to stimulate America’s economy if conventional monetary policy fails.”
Mester is no small fish. She is the president of the Federal Reserve Bank of Cleveland and the above statement, although sounding comical, is far from it. In her recent press release, she stated that quantitative easing has been doing wonders and has been working great for America and its people.
I ask her: what planet are you living on? The everyday man on the street has been getting hosed since the 2008 economic crisis began. The stock market may be at all-time highs, but the fact is, the average citizen has nothing to do with this. Inflation is running out of control and average incomes are plummeting. The rich, on the other hand, are accumulating wealth at a pace never before seen in the history of this planet.
To make matters even worse, the Fed has fired all its shots and horribly debased the U.S. dollar, printing fiat funny money at levels never before seen. What good has it done, other than artificially propping up a highly corrupt stock market? In my opinion and many others, it’s done little to nothing.
The world financial system is a breath away from utter and total anarchy. A collapse could be just around the corner, and instability is running at all-time highs. The EU is heading down the path of disintegration and for good reason. The elites have overplayed their hand and the people are waking up to the reality they now find themselves trapped in.
Yet, the Fed’s Mester has the nerve to suggest that doing more of the same insanity will solve our problems. As the press conference continued, she once again stressed this point.
“So, it’s my view that [helicopter money] would be sort of the next step if we ever found ourselves in a situation where we wanted to be more accommodative.
This strategy, which Japan is now seriously entertaining, would be the death of the U.S. dollar and the beginning of complete and utter hyperinflation. The elite will have warning way in advance of it occurring and will move their wealth into hard assets, such as land and precious metals, protecting themselves as the rest of the masses suffer in agony.
Even the fact that a Fed official can utter these statements and not be booed off the stage shows you just how insane the times we now find ourselves in are.
The only thing you can do is act in advance and prepare for the ultimate collapse that we are undoubtedly going to face one day, before it is too late. Gold and silver are already rocketing higher in price.
The alarm bells are ringing – can you hear them? I hope so.
Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.
Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.
In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.
He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.
