Lynette Zang – Don’t Worry, The Fed Has Your Back!

from Financial Survival Network

Lynette Zang joined us for an interesting discussion of central banking and crypto/klepto-currencies. The Fed orchestrated the Crash of 1929. It was basically a wealth redistribution scheme and it worked quite well. Now we’re approaching a global economic reset where the coin of the realm will be SDR’s (special drawing rights) issued by the IMF. What could go wrong? They’ve got your back, right? Also, Lynette believes the crypto-currencies could easily be a scheme to get you to give up your paper currency. Lot’s more here, so listen carefully.

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4 comments to Lynette Zang – Don’t Worry, The Fed Has Your Back!

  • jj

    What delusional nonsense. The SDR was created to provide additional liquidity to central banks when there are dollar shortages as happened late last year when the capital flight out of Europe caused shortages when institutional investors were converting euros to dollars. The IMF has come out and said that cryptos are a threat to the banking system and they are and they should be banned. The private cryptos used as a medium of exchange for goods and services has the same effect as increasing the money supply which has the potential of causing inflation and lowering the living standard and this is why governments are cracking down.
    In addition countries need to strengthen or weaken a currency as economic conditions dictate and this is why no country is going to use a one world currency. She is simply delusional and part of the typical metals pump and dump scheme. She is not helping people as claimed.
    Now in 1933 the US made gold illegal to use as a medium of exchange. Gold was revalued from $20.67 to $35 but although US citizens could longer use gold the US could and settled outside its borders with gold. But inside the US the government devalued the dollar and what good and services costs #20.67 now caused #35. But wait gold was revalued higher. But since they devalued the dollar this in effect of devaluing gold inside the US.
    I could go on but the bottom line she is just delusional!

  • Thomas

    jj said: “The private cryptos used as a medium of exchange for goods and services has the same effect as increasing the money supply which has the potential of causing inflation….”

    That’s hogwash. There is absolutely no increase in the money supply of dollars when these cryptocurrencies are created or bought/sold. It takes dollars to buy a bitcoin or any other crapto-currency, whether you’re on the buy or sell side. If your statement were true, then stock equities and company IPOs would be causing inflation and “crashing and lowering the living standard”.

    Today’s crapto-currency are “ponzi schemes”.

    jj said: “In addition countries need to strengthen or weaken a currency as economic conditions dictate and this is why no country is going to use a one world currency.”

    Yet, GOLD as a means to balance international trade imbalances is just that, a world currency. And it worked well until governments over-printed fiat currencies and we were “freed” from this barbaric gold standard.

    You need to learn monetary history before you start disparaging other people trying to help the unwashed masses.

    jj said: “She is simply delusional and part of the typical metals pump and dump scheme. She is not helping people as claimed.”

    No jj, your an IDIONT.

  • Thomas

    Mr. Lutz, do you have the link to Lynette’s “proof” that the “certain entities” deliberately caused the 1929 crash and subsequent Great Depression?

  • cje

    jj said: “The private cryptos used as a medium of exchange for goods and services has the same effect as increasing the money supply which has the potential of causing inflation….

    How? You can’t spend them on anything. Yeah, you can buy a few things over the internet. But as soon as the merchant gets them he converts it to cash. Most businesses can’t operate with the kind of volatility that cryptos exhibit on a DAILY basis.

    So there’s no increase in the money supply. Besides, we’re talking about a total market cap of what $150 Billion.

    The fed was buying $100 billion in bonds and mortgages every month during QE and they couldn’t get inflation going.

    I guess you could say there’s a wealth effect from that $150 billion in additional “wealth”. I hesitate to call it ‘weatlth” because it’s just electrons. Besides, the stock market has gone up much more than that, and it’s not caused any wealth effect.

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