Powell statement from Jackson Hole today:
"Look... let's cut the shit. Inflation is going to be an ongoing crisis for the next 10 years and will push our legitimacy as an institution over the edge. Our choice will be, within that time period, to find a new way to enslave you for another 100 years or we will go through something like the enlightenment or the reformation where the internet plays the role of the printing press and forces a total reworking of our society. Dissolution of corrupt technocratic authorities like us at the Federal Reserve is likely along with enormous chaos and possible internal conflict across the globe as some type of new balance is struck. How many of our slaves will survive this period? We do not know. Whether or not we will be able to re-enslave society is also an ongoing discussion. Despite our efforts, human freedom and individual rights are likely to persist through the next century in an updated form due to technological changes involving encryption and Bitcoin. So, in closing, we intend to continue running our money printer as hard as possible until it literally breaks because that is the only thing we actually do. Thank you."
