{"id":54619,"date":"2020-08-10T06:59:39","date_gmt":"2020-08-10T11:59:39","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54619"},"modified":"2020-08-10T07:00:27","modified_gmt":"2020-08-10T12:00:27","slug":"the-dollar-is-dying","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54619","title":{"rendered":"The Dollar Is Dying"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/acting-man.com\/?p=55325\">The Dollar Is Dying<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Insulting the Captive Audience<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This week, while perusing the Federal Reserve\u2019s balance sheet figures, we came across a rather curious note.&nbsp; We don\u2019t know how long the Fed\u2019s had this note posted to its&nbsp;<a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/bst_recenttrends.htm\">website<\/a>.&nbsp; But we can\u2019t recall ever seeing it.&nbsp; The note reads as follows:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>\u201cThe Federal Reserve\u2019s balance sheet has expanded and contracted over time.&nbsp; During the 2007-08 financial crisis and subsequent recession, total assets increased significantly from $870 billion in August 2007 to $4.5 trillion in early 2015.&nbsp; Then, reflecting the FOMC\u2019s balance sheet normalization program that took place between October 2017 and August 2019, total assets declined to under $3.8 trillion.&nbsp; Beginning in September 2019, total assets started to increase.\u201d<\/em><\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Directly below this note is the following chart:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/acting-man.com\/blog\/media\/2020\/08\/1-Fed-total-assets.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/acting-man.com\/blog\/media\/2020\/08\/1-Fed-total-assets-1024x655.png\" alt=\"\" class=\"wp-image-55326\"\/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Total assets of the Federal Reserve since 2008 \u2013 never-ending expansion (shaded areas indicate recessions) [PT]<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Does this look like a balance sheet that expands and contracts over time?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Quite frankly, the Fed\u2019s balance sheet chart, and the extreme dollar debasement that it illustrates, is a disgrace. &nbsp;The fact that the Fed had to add this flagrantly false note as preface to its disgraceful chart is an insult.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is a direct offense to anyone who has built a modest savings account by exchanging their time for dollars.&nbsp; The time and effort put to obtaining these dollars is being stolen by the insidious process of central bank engineered money supply inflation.&nbsp; Year in and year out, these earned dollars will be worth less and less.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, normalization is a Fed lie.&nbsp; It never happened.&nbsp; Yes, $700 billion was contracted from the Fed\u2019s Balance sheet between October 2017 and August 2019.&nbsp; But that was in the wake of a $3.5 trillion expansion.&nbsp; And it was quickly followed by another $3 trillion balance sheet expansion this spring.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dollar Is Dying Insulting the Captive Audience This week, while perusing the Federal Reserve\u2019s balance sheet figures, we came across a rather curious note.&nbsp; We don\u2019t know how long the Fed\u2019s had this note posted to its&nbsp;website.&nbsp; But we can\u2019t recall ever seeing it.&nbsp; The note reads as follows: \u201cThe Federal Reserve\u2019s balance sheet [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[24143,5270,1035,7783,303,11763,538,3650,2202],"class_list":["post-54619","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man-2","tag-big-banks","tag-cash","tag-credit-expansion","tag-fed","tag-mn-gordon","tag-money-printing","tag-us-federal-reserve","tag-us-treasury"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54619"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54619\/revisions"}],"predecessor-version":[{"id":54620,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54619\/revisions\/54620"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}