Sit down Avengers. The Fed reserve saves the world in the new propaganda comic

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By CCN.com: The Federal Reserve released its latest educational comic book this week. "The history of monetary policy" shows a world stabilized by a central bank through the eyes of a foreign visitor who does not understand things like "maximum employment".

The New York Fed, which publishes comics, is positioning itself as the paramount factor in areas such as "price stability" and "modern interest rates".

An inhabitant of the planet Novus takes a stranger from a distant planet to tour the local economy. She explains that the venue has recently created a central bank to help with everything.

Teaching children expansionary and restrictive monetary policy

The comic tries to explain low interest rates, which have discouraged an entire generation of money saving.

The cartoon goes through several stages of economic health. This is high inflation, with the characters complaining that they could not buy as much as they did with their currency.

However, it turns out that the main character of "The History of Monetary Policy" comes from a planet on which bitcoin is perhaps at the heart. The figure explains that it comes from a deflationary economy, where things are very cheap, but where the money is very scarce.

When funds are too scarce, a central bank needs to publish more, teach children.

The character concludes that his original planet should further increase interest rates to make things more affordable, but the Novus population stops it and points out that the "appropriate" action "is an expansionary monetary policy.

Central banks can not reconcile the currency governed by the code

The comic comes at a time when liberals are launching the idea of ​​"modern monetary theory", of very extensive social programs and even of a universal basic income as a means of buying votes at the same time. next elections. MMT is based on the notion that a sovereign nation should not worry about its debts, as long as it publishes the currency in which it is denominated. Bernie Sanders' campaign manager made waves at the end of this week by equating the Federal Reserve with "Stadium" which can not miss points.

Liberal economic policy is only slightly worse than that of conservatism. No one in American politics is really trying to reduce the size of the government, which has a debt equal to or greater than the real GDP of the United States.

Comics is an excuse to keep interest rates low. If you are a highly qualified borrower, you can still borrow and spend. Salaries are usually stagnant. If you are a person who has been eliminated in the global financial crisis, has an inherent mistrust of the banks and is trying to save your money rather than borrow, the current "expansionist" policies of the Federal Reserve are going to against you. As such, you can buy cryptocurrencies or put your money on the market, whose growth is largely attributed to recent decisions of the Federal Reserve.

Modern monetary theory: the real enemy of the people

It's a confusing moment to be an American.

Every month, the government talks about closing down because it can not afford to operate, while politicians take the opportunity to impose an unpopular policy.

We hear about our economic growth and our tax systems that are supposed to benefit everyone, and then people who are already struggling to survive by paying higher taxes. We hear about a booming economy offering attractive employment opportunities. The Liberals are talking about canceling college debt, so the predatory lending sector of the American education system can face a whole new generation without fear of failure.

This comic book does nothing to alleviate this confusion. This concerns only the two types of monetary policy that the Federal Reserve deems it appropriate to use, the "expansionist" model being the model it uses for most of its life.

Our government will close again, especially when the Liberals have executive power again.

The so-called conservatives will seize the opportunity to try to stop the bleeding, but the pork barrel policy will continue at an unprecedented level, from all sides.

Voting will continue unchecked.

Operating so close to the brink of collapse, the impetus for alternative financial instruments should be stronger than ever. It's never too late to buy crypto, and no, Bitcoin will not be the only viable option.

Disclaimer: The opinions expressed in this article belong to the author and should not be attributed to CCN.com.

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