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Paul Craig Roberts
Institute for Political Economy
Our World of Lies
Our World of Lies
Paul Craig Roberts
If the inflation narrative we are being fed is true, the sanctions policy of the US government makes no sense as the worst sufferers are the American and European populations who are paying for the supply restrictions in higher prices and interest rates.
As Russia is an exporter of energy and minerals, higher prices result in more export earnings. It is Americans and Europeans hit with the high prices who are experiencing the sanctions.
Ask yourself why with supply shortages, disrupted supply chains from the mindless lockdown policy, and rising inflation the US government drove inflation higher by inhibiting supply with sanctions. Is the cause of the current inflation Federal Reserve money printing or is the cause the reduction in the supply of goods and services caused by Washington’s Covid protocol and “Russian sanctions”?
Ask yourself why the Biden regime is more concerned about gangster-state Ukraine than it is about the US inflation rate and the welfare of American citizens.
Ask yourself if the current high gasoline price is really a result of sanctions preventing oil from coming to market. As far as I can tell, Russia continues to sell oil and natural gas. It is only the small US purchases of Russian oil that have stopped. The small amount of oil involved cannot explain the price rise. Most likely it is the oil companies using the “crisis” narrative to raise prices.
Ask yourself if an interest rate rise by half a percentage point is enough to cause a 1,000 drop in the Dow Jones. Presumably, the argument is that a higher interest rate raises costs and drops earnings, thus the stock market’s decline. But if higher interest rates raise costs, how are they anti-inflationary? Most likely the stock market fell because the Federal Reserve said it is halting its policy of printing money to support stock and bond prices. Instead, the Federal Reserve is going to sell stocks and bonds from its $9 trillion dollar portfolio built by buying stocks and bonds for more than a decade in order to support the New York Banks and Wall Street. When Quantitative Easing began, the Federal Reserves portfolio was $800 billion. Today it is 11 times larger. This huge increase in the Federal Reserve’s portfolio explains the long rise in the Dow Jones and the fortunes made on Wall Street.
None of the narratives we are fed are true. The narratives serve agendas that are not disclosed to the public.
It is a fiction that “Western democracies” are self-governing. How can people self-govern when they live in a world governed by false explanations serving hidden agendas?