Protests do nothing, they have to buy BItcoin,“ says Max Keiser
Bitcoin (BTC) is the only effective way for Americans to empower themselves, since protests don’t work, said popular TV personality Max Keiser.
In the last edition of his RT program, Keiser Report, on June 23, Keiser made a frank assessment of the current socioeconomic situation in the United States.
The protests „do nothing“ compared to the purchase of Bitcoin
The Federal Reserve has exacerbated inequality through its response to Covid-19, he and co-host Stacy Herbert argued, and the protests over George Floyd’s death are due to both economic and police oppression.
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Two well-known culprits – the Cantillion effect and „interest rate apartheid“ – are to blame for the public’s anger.
The first concerns the printing of money that puts the wealth in the hands of those closest to the source, while the poor pay more to borrow. In contrast, loans to banks and large companies are free or even subsidized, which means they are paid to borrow money.
„Black America will never be equal to White America; it will never have justice in White America,“ Keiser said.
„The only thing they can hope for is individual sovereignty, and the only way to get there is through savings at Bitcoin… (Is) the best way to do it.“
Since it is money that is not controlled by any central authority and cannot be downgraded by a central bank, Bitcoin is possibly the most convenient way out of the punitive fiat system.
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For Keiser, those attending the Floyd memorial protests are ignoring the reality of the situation: to effect personal change, they must regain their financial sovereignty.
„Knocking down a statue does nothing, marching in the streets does nothing, electing people to office who you think will help you does nothing, none of it works,“ he continued.
„I’m telling you this as a white Boomer man from Wall Street: I would laugh at that, and so would my brothers. That doesn’t do anything.“
Economist: The Federal Reserve’s balance sheet „will not shrink again“
The Keiser Report subsequently shed light on the future of the Federal Reserve’s economic policy. According to guest Stephen Roach, a Yale economist, Covid-19 has cursed the central bank’s position once and for all.
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Roach believes that because of the support for the economy, from the stock markets to bond purchases, the inconceivable USD 7.2 trillion on the Federal Reserve’s balance sheet will never be reduced.
In 2008, for example, the balance sheet stood at USD 800 billion and was almost doomed even before the pandemic.
„The Federal Reserve now owns the treasury market, the municipal market, the corporate bond market, the junk bond market, the CLO market and by proxy, the housing market and the stock market,“ he said.
„They’re never going to drain that balance; they own those markets, and the moment they walk away, they’re going to fall faster and harder than ever.“
The Federal Reserve’s ownership of U.S. GDP now stands at about 30%, Keiser suggests that further expansion would bring the country closer to a medieval-style feudal configuration, where the elite own everything and ordinary citizens live without power.