The Federal Reserve sent out a notice that they’re stopping the printing of any paper currency ‘this holiday season’. This is all due to the virus of course. Because any new money they print could be contaminated, just keep using old, clean, used currency.
“I’ve talked about the money issue, the push for a cashless society. Remember, they stopped minting coins this summer. You’ve seen people begging for coins, businesses saying they’ll round up to the nearest dollar, or others saying they’re not going to accept cash at all anymore, which is what they want.”
“Now, a listener sent me a notice that was sent to a credit union saying, ‘Federal Reserve has suspended orders for new bills in 2020. During the holidays, members often request newly printed bills to give as gifts, unfortunately, this holiday season newly printed bills will not be available due to COVID-19.’ The Federal Reserve is using this as an excuse to do what they’ve wanted to do for years.”
The excuse offered is that by ceasing printing new currency, it helps to “meet demand”. Does that makes any sense? No wonder ever accused the Federal Reserve of understanding supply and demand. Maybe they understand it but don’t respect it.
“The notice goes on to say, ‘This is a proactive measure to allow the reserve banks to continue to meet the daily demand for currency and coins.’ So if you stop printing paper currency that wears out, that’s the way to meet the daily demand for currency. The Orwellian doublethink is strong with this one.”