This guy argues that the Federal Reserve's once-mysterious monetary policies have become a public spectacle and punchline due to the rise of Bitcoin, meme culture, and internet communities like r/WallStreetBets, which have educated the masses on fiat money's flaws and central banking's absurdities.

As inflation erodes savings and public trust wanes, people are increasingly aware of the Fed's questionable credibility, circular logic, and addiction to low rates and bailouts, leading them to shift toward sound money assets like Bitcoin and gold.

With the veil of confusion lifted by social media and digital platforms, the Fed faces a credibility crisis not from economists or foreign creditors, but from an informed public ready to abandon fiat currency, potentially culminating in a historic moment of reckoning during the next round of quantitative easing.

https://quoththeraven.substack.com/p/the-feds-fafo-moment-is-here

Let's hope so.

The bond market may think all those things and there may be a big enough reaction to force a Liz Truss moment.

But if he thinks the "masses" think along those lines and will rebel against errant fed policy, then I've got some great beach front property in Kansas for sale.

Ultimately the masses interact directly with the Treasury, not the Fed.

The "masses," particularly those who are reliant on government transfer payments sink or swim based on fiscal policy and not monetary policy.

You think the source of so much power and money is going to quietly fade away?

They would rather destroy this country entirely than have it exist without them.

Good thing the Fed has "avoided" so many financial crises over its history.

Its Texas Aggies, dammit said:

---

This guy argues that the Federal Reserve's once-mysterious monetary policies have become a public spectacle and punchline due to the rise of Bitcoin, meme culture, and internet communities like r/WallStreetBets, which have educated the masses on fiat money's flaws and central banking's

---

Most people these days can't even count change after breaking a $20 bill much less knowing what "fiat" even means. There is no educating the masses. Most are just sheep that think what they are told on social media.

KingofHazor said:

---

Yes, the Fed may need to be reformed. But the root problem isn't the Fed. It is Congress's inability to stop deficit spending.

---

This!

Without fiat money, congress would not be able to spend so recklessly. It's like a parent giving their kids a blank check or a limitless credit card.

Which is exactly why it won't go away.

People with that much power aren't going to give it up.

Quote:

---

This guy argues that the Federal Reserve's once-mysterious monetary policies have become a public spectacle and punchline due to the rise of Bitcoin, meme culture, and internet communities like r/WallStreetBets, which have educated the masses on fiat money's flaws and central banking's absurdities.

---

Picard said:

---

End the Fed

---

the % of people who understand who the FED truly is less than 5% which is an increase but still nowhere near a mass uprising.

KingofHazor said:

---

Be careful of what you ask for. Take a moment and look at the series of financial crises that plagued the U.S. constantly before the creation of the Fed.

Yes, the Fed may need to be reformed. But the root problem isn't the Fed. It is Congress's inability to stop deficit spending.

And lol to anyone who describes Bitcoin as "sound currency".

---

In those instances, banks that got in trouble were run on and went out of business. Yes, depositers lost everything. And the economy crashed when it happened to big ones.

But you don't even know why the FED was created. It wasn't created to prevent this. It used the fear from these events, especially 1907, to convince a scared public that the FED would help prevent these instances in the future. In reality, the FED has done nothing of the sort. The FED has facilitated the greatest wealth transfers in human history, where banks who over leverage and act reckless are bailed out, socializing the losses to the taxpayer (you), while privatizing the gains.

The FED needs to be ended. It is not my responsibility to pay for depositors who kept their money at unsafe banks.

Heard a very pithy hypothetical this morning listening to Brent Johnson and Lyn Alden (both excellent resources but very different in their takes).

The hypothetical was that you have 3 people standing in a room - one has a $1M gold bar, one has a usb drive with the key to $1M crypto and the other has a gun.

Who has the most power? I think this cuts to the core of the situation very quickly. We all WANT it to be different, but at the end of the day, the State is the one holding the gun.

I am more concerned with the fact we spend 3 billion dollars to house all those thousands of PHDs

who then sit around, create some report no one reads, and basically do nothing.