By John Titus
The “novel” coronavirus pandemic marks the greatest turning point in U.S. monetary history since the creation of the Federal Reserve in 1913. In large measure, the “novel” coronavirus pandemic narrative serves as a convenient cover story that distracts from and even masks the Federal Reserve’s unprecedented maneuvers in 2020—maneuvers that happen to have been planned and discussed in August 2019 some four months prior to the first mention of any “novel” virus in Wuhan, China.
What marks the Fed’s maneuvers in March 2020 as unprecedented really is not its sudden creation of $3.5 trillion in reserves; that amount, $3.5 trillion in a few weeks, was unprecedented to be sure, but that’s merely a matter of degree: the Fed created over $1 trillion in the space of a few short weeks back in September 2008 during the global financial crisis (GFC). In that light, and purely in terms of reserves, the Fed’s sudden creation of $3.5 trillion beginning in March 2020 wasn’t novel at all; it was merely bigger than what it had done starting in 2008.
Fitts/Titus: a mixed doubles team that could win Wimbleton! Thank you for the summary. I have many friends who are interested in reading the Great Reset, but do not have the time. This will help.
HI, Thanks for the summary. Can I download it as a pdf? I am trying to copy and paste, but lose the chart.
Will ask our team on Monday to add a PDF.
Thank you for this, it is wonderful. -Anne
Thanks for this concise and pointed view of what is NOT novel! I was speaking with my banker about Cash Friday to see what his reaction would be – he said that people often come into the bank requesting a stack of fresh, newly printed bills, he has to tell them that the banks can’t fill their request because the Fed is not printing now ?!…The water spicket turns on and off as the worm turns…
I was at the Major Bank branch yesterday (I am divesting as soon as I move), and there were signs everywhere saying that “coins are in a shortage” and “may not be available”…I started telling the Teller (lol) about Cash Friday, and how easy it would be for them to turn our money off. She totally got it, and seemed in.
Very good!
Fascinating. The banks have the power to push the Fed for cash.
It’s Science. Wait, it’s Magic. No, it’s Magic Science. Thanks for the clarity John. Wish there was something we could do to redirect this crazy train.
Thanks for this Mr. Titus. Please know this: to me, you’re a Hero.