Bidenomics! Bank Credit Slows To 0.5% YoY, Lowest Since 2011 As Fed Hikes To Fight Bidenflation (41+ Countries Sign On For BRICs Gold Standard)

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by confoundedinterest17

Bidenomics relied of massive Federal spending thanks to Covid and massive monetary expansion. This led to the highest inflation in 40 years (Bidenflation). But now The Fed is slowing M2 Money growth into negative territory and hiking their target rate.

The result? Bank credit growth has crashed to 0.5% YoY. In other words, banks are no longer expanding credit for the first time since the aftermanth of The Great Recession and Financial Crisis of 2008/2009. Of course, Washington DC bailed out their bestest buddies, the banks, while middle America suffered.

As America loses steam under Biden and The Fed, 41+ countries have signed on to the BRICs gold-backed reserve currency. Unlike the USA with its fiat currency (backed by Babbling Biden and Janet “The Midget Marxist” Yellen), this reserve currency will be backed by gold.

See also  The market surged 6,540% since 1967, but only 600% after adjusting for inflation; Confidence in fiat currencies wanes.

Speaking of Yellen, she met the Chinese vice-Chairman (their version of Cacklin’ Kamala) and bowed three times. And the Chinese official didn’t return the bows. Way to capitulate Janet!!

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