(Article by Mac Slavo republished from SHFTPlan.com)
According to a report by CNN, the shocking implosion of Silicon Valley Bank should not deter the Federal Reserve from its war on inflation, according to former FDIC and Fed official Thomas Hoenig.
“The Federal Reserve is in the hot seat. It’s a no-win situation for them,” Hoenig, the former vice chair of the Federal Deposit Insurance Corporation, told CNN in a phone interview on Monday.
As Gregory Mannarino said that parading Joe Biden out to sell the public another lie about how strong the economy is, is going to do more harm than good.
“This may wake up some people,” Mannarino says. If the ruling class can “hit people in the pocketbook,” they may begin to see the slave system for what it is. Or, they could beg their master to save them and the solution will be nothing short of permanent slavery. The illusion that there’s any freedom at all in this system will be gone. “[The central banks] are the enemy. They are public enemy number one,” he added. They will stop at nothing to make sure humans are fully controlled tax cattle.
Raising interest rates at the Fed’s monetary policy meeting next week could add to the financial pressure facing the banking system, in part by further depressing the value of the bonds that banks are sitting on, CNN further reported. But Hoenig, who led the Kansas City Fed during the 2008 financial crisis, urged the Fed to keep hiking rates because inflation hasn’t gone away.
“It says to the world inflation is still the problem,” said Hoenig, who is now a distinguished senior fellow at the Mercatus Center at George Mason University in Virginia. “Get inflation down. Then you can have a long period of stability, hopefully. If you don’t get inflation down, you get a long period of instability.”
The central banks are doing nothing but navigating an agenda that they’ve had in place for over a century. The goal is a central bank digital currency or CBDC which they will use to make sure the slaves stay in line and have a hard time breaking free from.
“This whole thing is going to get a lot worse”, said Mannarino in a video posted today.
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