Biden Feels Your Pain!

But Ottawa has shown us a darker side of state control of money and finance: complete political control. [Gilder's Daily Prophecy] July 12, 2022 [UNSUBSCRIBE]( | [ARCHIVES]( BOMBSHELL: James just stunned EVERYONE [Click here to learn more]( Available to the public for just hours... This just-released video is already causing quite a stir. That’s because James Altucher just went live on camera and dropped a BOMBSHELL on our readers that no one was expecting... If you do one thing today, take five minutes to see [this.]( You’ll be very happy you did. [>> Go Here Now <<]( Biden Feels Your Pain! [Jeffrey Tucker]Dear Daily Prophecy Reader, The Biden administration, we are told, is finally taking inflation seriously. It only took an entire nation screaming and yelling at watching their effective income decline dramatically. No one is not being pillaged by inflation right now. The White House’s previous stance that it would soon go away is no longer selling. Plus, Biden is deeply unpopular and dragging down his entire political party ahead of midterm elections. So what do these people do? They have a strategy meeting. The conclusion was that Biden needs to make a strong statement that — to quote the White House — “I feel and understand what you’re going through.” We surely know by now that woke ideology substitutes sentiment and emotion for reality itself. If you have the right values and opinions, surely all's right with the world. Biden’s advisers are somehow under the impression that this flimflammy view of the world also pertains to economics. Sure enough, Biden said it: “I grew up in a family where the price at the pump was felt in the kitchen. Everybody knew. Everybody felt it. I understand….I know food prices are up, and we’re working to bring them down.” That’s a relief! Not. It’s utterly beyond me why people pay political consultants to advise this sort of thing. What in the world? Is there a living soul in America who somehow gains comfort from this? By the way, it’s not just food. Every producer is being squeezed, and all services providers are currently panicking about announcing pricing changes to their customers. Amazon Prime just bumped its annual fee by 16.8%. That’s a more realistic estimate of the combined consumer/producer rate of inflation. There is simply no way that this highly capitalized company wanted to take this risk with its customer base. They had to in order for Prime to make sense anymore. If Amazon faces such constraints, just imagine what a world it is for small businesses. The more pertinent question is: what precisely can the Biden administration do about this? What are they working on? Let’s say they are working on working on it. Like controlling the virus, there is absolutely nothing that the Biden administration can do to stop inflation. The Options It can demonize and blame corporations, which it is already doing, but people are not entirely stupid enough to believe that sellers can keep the same prices when the costs of doing business are going through the roof. It can impose price controls, but in these times those will operate differently from the 1930s or 1970s. They will take the form of threats and regulatory investigations to try to forestall increases. The trouble here is that this only pushes inflation to take different forms: less service, smaller packages, worse materials, no support, hidden fees, and so on. Enterprise will survive regardless. If you listen to the White House spokesperson, you hear ever more about…the FED! She is name-dropping it all the time, first in hopes of getting some new appointments there, but mostly to prepare the way for Biden to scapegoat the Fed for failing to solve the inflation problem. This is classic bureaucratic behavior. No one is at fault. No one has done anything wrong. The White House blames the Fed. The Fed will blame Congress. Congress takes no responsibility. In the end, the whole thing feels like a pandemic, a thing that arrives, people try but fail to control. But it’s worse because the pandemic always ends. The inflation problem only ends long after the money masters have the money printing under control. Actually, there is one thing that Biden could do: repair supply chains via deregulation and freer trade. Make some peace with commerce and give the producers a break! But that’s not likely to happen. The supply-chain problems that contribute to higher prices are broken for the duration. So we have a supply problem combined with a money problem, the first of which Biden won’t fix and the second of which he cannot fix. Biden Orders Americans to Turn In Their Dollars? A former advisor to the CIA and Pentagon predicts President Biden plans to retire the US dollar we know – and replace it with a digital “spyware” currency. Your US dollars could be confiscated – or made worthless. It is underway now. On March 9, Biden signed Executive Order 14067, which could pave the way for the new US currency. AOC tweeted her support. Dems could use this to hold onto power indefinitely. [Please view this warning now](. The Fate of the Dollar I will attempt to recreate a very revealing example I saw in a meme yesterday. Let’s say you have one dollar now and let’s track its value over time under existing inflation rates: 1 year later: $0.92 2 years later: $0.85 3 years later: $0.78 4 years later: $0.72 5 years later: $0.66 Three years after that, you have lost half your money. The year would be 2030. Or consider the same under the Amazon Prime figure of 16.8%. Starting with $1: 1 year later: $0.83 2 years later: $0.69 3 years later: $0.57 4 years later: $0.47 5 years later: $0.39 Three years after that: your starting value of $1 is now worth $0.21. Not even a quarter. Few salaries can keep up with that level of depreciation of purchasing power. In good years, the financial market returns to keep up but when bear markets hit, things can get grim really fast even for the smart money. This is precisely why everyone is so worried about the Fed’s plan to tackle inflation via rate increases. It is not at all obvious that it can work, at least not in time to save the administration's popularity for the midterm elections. Stealing Money I’ve been writing about money and government for decades. My undergraduate thesis was on Ron Paul’s efforts to reinstitute a gold standard. I’ve been utterly enraptured my whole career with how government uses its control over money to oppress the people. Usually, it has taken the form of the inflation generated to finance the welfare and warfare states — or just state expansion in general. Even after all my studies, I could not have anticipated what we’ve seen in the last two weeks. Ottawa has recently shown us a darker side of state control of money and finance: complete political control. The prime minister declared an emergency, put the House of Commons on a “temporary” recess so that it could not be ratified, and we hear that the government is right now locking the bank accounts of the organizers and main funders. It is a police state made possible by state control of financial intermediaries. This is the first full deployment of a power more than most states in the world possess. The world is watching to see how it works. If the powers that be can put down political opposition through such means and it works, and doing so costs far less than deploying police, and also forestalling ugly videos of political dissidents getting arrested, it will be done again and again. Regards, [Jeffrey Tucker] Jeffrey Tucker New LIVE Demo Video STUNS Crypto Investors In [this short 3:28 video]( Crypto genius James Altucher reveals his most shocking crypto secret yet… A little-known secret that’s delivered over $1,170 in FREE crypto income per month. If you AREN’T using this affordable little device… You’re missing one of the best, easiest ways to earn real cash with cryptos. [Click here to watch this short 3:28 video NOW](. [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy](. Gilder's Daily Prophecy is committed to protecting and respecting your privacy. 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