Congress is arguing over raising the debt ceiling. Again...
First, there is not debt ceiling that is high enough. With a fractional reserve lending system, every year you need to create as much new currency as the principal and interest of all previous years. It is paying off a credit card with a credit card. You need a bigger balance every time.
Second, congress has always passed a bill to raise the debt ceiling, but often after much feet dragging (for the photo ops)
But what if they don't this time?
If they don't, it effectively means the Fed is dead.
Or, the only reason they wouldn't raise the debt ceiling is they intend to revoke the Federal Reserves' charter.
FERNs - FEderal Reserve Notes
Now, we are looking at the end of the FERNs. It is just a matter of time.
All currencies return to their true value, zero.
Also so many countries are upset at The US using the FERNs to manipulate everything.
However, there are a lot of FERNs out there, and nothing really to replace it.
Unless we are going to vote to get rid of the Fed.
When the Fed goes, so goes the FERNs.
If not, the FERNs die slowly. There are just so many of them out there.
And we will probably still use the paper dollars we have for a years to come.
But the banks would all be closed until a new money was introduced.
The Fed uses the nuclear option.
Another possibility is that if the govern-cement doesn't raise the debt ceiling, then the rots-childs control of things via The US govern-cement goes down the toilet. All those people who were following along because the bribes have been lining their pockets will not stay in line when the money spigot dries up.
And so, the Fed (Rots-children, and friends) just destroys the FERN as a retaliatory act.
Basically, all the banks transacting in FERNs just stop. The swift system clogs up. All the banks are closed.
Half of the money in the world just stops moving and/or disappears.
The can gets kicked down the road option.
Things go on as they have been going... into the dumpster fire.
Soon all the bonds are coming back to The US.
A tsunami of debt is heading from Europe and will come crashing down in New York.
At that time, Americans will really experience inflation.
We have offshored our inflation for a long time, now those chickens are coming home to roost.
The Fed has sorta planned for this.
They are trying to roll out FedNow and switch to a new currency before the FERN dies.
But still, either the creditor or the debtor has to take the hit when the FERN goes away. And typically, this has never been the banks. Since they control the system, they will write the script where the average person gets screwed. Then they will offer everyone stimulus checks through the FedNow system (CBDC), so they look like the good guys.
Either way...
The FERN is dying. Expect much shenanigans.
Have Cash!
Because in all scenarios you will find it harder and harder to get money out of the banks.
Bank holidays will happen.
ATMs will go on the fritz.
Withdrawals will be limited to something absurd like $50.
Have cash on hand so you can at least buy food and gas.
The FERN is dying, but cash will continue on for a while after it does.
Make sure you are prepared.
Maybe the grocery stores will start to accept HBDs!