Massive Central Bank Ponzi Creates Permanent Distortion – Nomi Prins
Three-time, best-selling book author Nomi Prins says the reason why there is so much uncertainty and chaos in the global economy comes down to one simple theme, and that is a couple of decades of central bank money printing has created the biggest Ponzi scheme the world has ever seen. Prins explains, “The Fed and other central banks have created basically this idea, and put it into practice, whenever there is real crisis, however they deem it, they are going to print money, and a lot of money. . . and pushing this envelope forward on the back of a very artificial fabrication of money. That is the Ponzi scheme here. The Ponzi scheme is actually the money that is sloshing around and is somehow owed more to reality. That it is owed to actual profits, actual production, actual growth in the economy, which it isn’t. . . . Look at the way money gets printed . . . as we saw and everybody woke up from the pandemic. Look at all the closures in the economy, and the economy still has not gotten back to where it was. It is still not stable. People are still facing economic angst, but the Fed created four and a half trillion dollars of money basically overnight. That’s a Ponzi scheme. That is something that is going to keep going whenever there is a crisis, and that is going to paper over the fact we are not actually healthy. . . . That’s the definition of a Ponzi scheme when you always have new money coming in, and in this case, it’s new money being created by the central banks. It will replace any cracks, any faults, any problems that are emerging along the way. . . The Fed doubled its balance sheet and did not double the economy. . . . That’s a Ponzi.”
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