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The last two months dealing with the coronavirus outbreak have been strange, to say the least, and as data rolls in more people are becoming aware that there was quite a bit of overreaction from politicians, the media, and medical professionals. A small number of people are starting to focus on the economic situation and the possible destructive aftermath the finance world will see. On May 5, 2020, the Austrian economics-based think tank, Mises Institute, published a 157-page report covering the anatomy of the crash.

For well over two months now, the world has been distraughtly dealing with Covid-19 and the government-induced shutdowns worldwide. The economy has faltered and in the U.S. people are growing leery of the bureaucratic decisions and stimulus injections stemming from the country’s central banks. News.Bitcoin.com has been covering the Federal Reserve’s schemes since last summer and the trillions of dollars the bank handed out before the first U.S. Covid-19 death. Now the Mises Institute (Mises.org) has published a report filled with a collection of enlightening editorials that may show people the ramifications of the Fed’s endless fiat game. The introduction to the report called the “Anatomy of the Crash: The Financial Crisis of 2020,” was written by Mises Institute president Jeff Deist. His introduction and the articles tethered to the report explain how the economic crash was not caused by the virus.

“The Great Crash of 2020 was not caused by a virus,” Deist details. “It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut down business and travel. But it was caused by economic fragility.” The Mises Institute president further added:

The supposed greatest economy in U.S. history actually was a walking sick man, made comfortable with painkillers, and looking far better than he felt—yet ultimately fragile and infirm. The coronavirus pandemic simply exposed the underlying sickness of the US economy. If anything, the crash was overdue.

Deist further added that the media and general public in the U.S. are fixated on the virus and they cannot see the manipulation the Fed has been causing. “Too much debt, too much malinvestment, and too little honest pricing of assets and interest rates made America uniquely vulnerable to economic contagion — Most of this vulnerability can be laid at the feet of central bankers at the Federal Reserve.”

Despite the fact that the general populace is not aware of the problem, Deist thinks that Americans should not let the authorities at the central bank get away with what they have done. “We should not let them get away with it, because (at least when it comes to legacy media) the Fed’s gross malfeasance is perhaps the biggest untold story of our lifetimes,” Deist wrote.

News.Bitcoin.com has explained in various articles how the world’s monetary system is broken and the various methods free-market advocates can use to shelter themselves from the storm. Individuals can use tactics like barter and trade, leveraging precious metals for a hedge, and utilizing censorship-resistant digital currencies. Following Diest’s introduction in the “Anatomy of the Crash” report, the research contains various articles written in the past by some of the Austrian school of economics’ greatest visionaries.

The 157 pages cover topics like why the financial sector now rules the global economy, central banks nationalizing the economy, the menace of sub-zero interest rates, how the ghosts of failed banks have returned, what central banks may do next and not-so-modern monetary theory (MMT), how central banks are propping up stock prices, and what Ludwig von Mises would think about the financial system today.

Back in 2008, the financial crises woke a lot of people and many understand just what the bailouts were doing and how the Federal Reserve is manipulating the U.S. economy today. The report published by the Mises Institute (Mises.org) opens up the central bank’s can of worms and shows it for what it is really worth. Sound money advocates, bitcoin proponents, Austrian economists, and libertarians have been warning their friends and family of the Fed’s fraud for years now. The Mises Institute president ends the report’s introduction by stressing that the faith in the U.S. dollar and the Fed’s schemes will be tested in due time.

“The Fed is, in effect, a lawless economic government unto itself,” Deist conceded. “It serves as a bizarro-world ad hoc credit facility to the US financial sector, completely open-ended, with no credit checks, no credit limits, no collateral requirements, no interest payments, and in some cases no repayments at all. It is the lender of first resort, a kind of reverse pawnshop which pays top dollar for rapidly declining assets. The Fed is now the Infinite Bank. It is run by televangelists, not bankers, and operates on faith. That faith will be sorely tested.”

What do you think about the Mises Institute’s report on the 2020 crash? Let us know what you think about this topic in the comments below.

The post US Central Bank Blamed for 2020 Financial Crash: ‘The Fed Is Lawless Economic Government Unto Itself’ appeared first on Bitcoin News.

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