The following is a direct excerpt from Marty’s Bent Issue #1226: “#EndTheFed.” Sign up for the newsletter here.
As markets anxiously await the Federal Open Market Committee (FOMC) meeting (and the inevitable rate hike that will come with it), it’s important to remember that it’s completely insane that we’re allowing the insanity to happen of central banks continues. The world is currently waiting with bated breath for an announcement from Jerome Powell, a 69-year-old attorney-turned-chairman of the Federal Reserve, to see how many basis points he decides to raise the federal funds rate.
Tomorrow is nothing special. The markets have been playing this game for some time. Most FOMC meetings are boring and not as popular as tomorrow’s meeting seems to be. Tomorrow’s meeting is certainly important and will force the markets to move drastically one way or the other depending on how aggressive Jay Powell and his friends choose to be. However, tomorrow’s meeting is only as important as it is because of all the boring FOMC meetings that led up to it. Years of boring, accommodating and complacent policies combined with poorly managed central planning on the part of the federal government have allowed price signals to markets to be completely distorted, forcing the Fed to act aggressively at this moment. Composite poor central planning has completely ruined the world economy and we are sitting here waiting to hear how the arsonists plan to fix the problem. It’s pure madness.
The only way to truly resolve the systemic problems that exist in our hyper-connected global economy is to exit the Fed and return to a free-market-driven, sound monetary standard, free from price-signal manipulation through active interest-rate policies that support the Money supply artificially expanding Pedestal with ex nihilo printed money. Reaching this point will not be achieved by hoping that the Fed will simply disappear or that corrupt politicians will miraculously wake up and decide to shut down the institution themselves. The Fed will only be abolished if a mass of individuals decide to demand sound money and exit the inherently corrupt system. As it currently stands, Bitcoin is the best and only viable path to this outcome.
Despite recent and historic price volatility, Bitcoin has fundamental underlying properties that make it uniquely suited to replace the parasitic central banking system to which the world is currently beholden. Anyone with the ability to download software anywhere that enables them to receive, hold, send and verify bitcoin can start demanding better money right away. There is no need to wait. There is no need to ask. You and billions of other people on the planet can make the decision right now to break away from the madness.