While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” President Janet L. Yellen, of the privately owned Federal Reserve (central) Bank of San Francisco, speaking to a combined meeting of the Idaho and Oregon the Bankers Associations, in Coeur d’Alene, idaho, claims that, “

       The gap in the federal budget for the current and the next fiscal years are projected to exceed $1 trillion, far larger than anything we’ve ever seen before.

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       The long-term projected structural budget deficit mainly reflects the impact of an aging population and rapidly rising health-care costs on spending for federal entitlement programs, particularly Medicare and Medicaid.

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       [But] since World War II, large deficits have been associated with high inflation only in developing countries. That’s because developing countries often have central banks that are under the sway of the government, which sometimes induces them to print money to finance government spending. The connection isn’t found in countries such as ours with advanced financial systems and independent central banks.

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       An increase in the interest rate on reserves will induce banks to lend money to us rather than to other banks, thereby pushing up rates in the interbank market and, by extension, other interest rates throughout the economy.

       NOTE: This is the further realization of plank number five of the “Communist Manifesto” by Karl Marx.

       [added 12/18/2021] Thanks to Freedom’s Phoenix for this entry.