For most Americans, 2020 was disastrous for their safety, well-being and future.
Unprecedented numbers of people lost jobs — a greater percent of working-age Americans than in the 1930s Great Depression.
Millions more became way underemployed earning poverty wages with few or no benefits — struggling daily to survive.
Well over 100,000 small businesses went bankrupt or otherwise shut down permanently because of draconian lockdowns, quarantines and related policies.
According to Gallup survey data, “Americans’ mental health ratings s(ank) to a new low” in 2020 — with no end to mass-misery in prospect.
Chicago’s Water Tower Place is the city’s preeminent downtown shopping mall along its Magnificent Mile.
Its survival is threatened by lack of enough retail traffic.
A city news report said there’s “real anxiety that Chicago’s main shopping districts — the Magnificent Mile and Gold Coast — are (at risk) of falling apart” for lack of enough revenue to keep operating.
The Illinois Retail Merchants Association said “economic fallout” from what’s going on “made it difficult for businesses to keep up with high downtown rents.”
What’s true about Chicago’s retail environment applies to the US nationwide — with no end of it in prospect looking ahead.
According to the National Restaurant Association, up to half of the nation’s restaurants may close permanently if the current environment continues or worsens — millions of jobs to be lost with them.…
The Burning Platform
At the local convenience store, my wife Jo handed the clerk a $5 bill and waited for her change; finally asking for it. The clerk said, “We have a coin shortage. We have to round things to the nearest dollar.” Screw that! She dug in her purse, cobbled together the correct change and demanded the clerk give her a dollar back – while the line of “social distanced” customers behind her grew long.
The next day she bought a fountain Coke, normally $1.00 plus tax. The clerk said, “$1.00 please.” The merchant absorbed the tax. There are signs in the local stores saying they have a shortage and will buy rolled coins.
My BS meter went into full alert. A government capable of putting a man on the moon could solve a coin shortage in a matter of a few weeks. If there is a shortage, it’s because some politicos, or bankers want to create one.
Sure enough, Ron Paul’s article, Fedcoin: A New Scheme for Tyranny and Poverty, appeared.
“If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies.…
Ron Paul Institute
If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.” Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there is still great interest in fedcoin on Capitol Hill. Some progressives have embraced fedcoin as a way to provide Americans with a “universal basic income.” Both the Senate Banking Committee and the House Financial Services Committee held hearings on fedcoin in June. This is the first step toward making fedcoin a reality. Fedcoin would not be an actual coin. Instead, it would be a special account created and maintained for each American by the Federal Reserve. Each month, Fed employees could tap a few keys on a computer and — bingo — each American would have dollars added to his Federal Reserve account. This is the 21st century equivalent of throwing money from helicopters.