Hyperinflation Is Here

Definition : Hyperinflation is the condition whereby monetary authorities accelerate the expansion of the quantity of money to the point where it proves impossible for them to regain control .
It ends when the state ’ s fiat currency is finally worthless .
It is an evolving crisis , not just a climactic event .
This article defines hyperinflation in simple terms , making it clear that most , if not all governments have already committed their unbacked currencies to destruction by hyperinflation .
The evidence is now becoming plain to see .
The phenomenon is driven by the excess @ @ @ @ @ @ @ which has already spiralled out of control in the US and elsewhere .
The first round of the coronavirus has only served to make the problem more obvious to those who had already understood that the expansionary phase of the bank credit cycle was coming to an end , and by combining with the economic consequences of the trade tariff war between China and America we are condemned to a repeat of the conditions that led to the Wall Street crash of 1929—32 .
For economic historians these should be statements of the @ @ @ @ @ @ @ tax base , which is quantified by GDP , when measured by the true rate of the dollar ’ s loss of purchasing power and confirmed by the accelerated rate of increase in broad money over the last ten years has been declining sharply in real terms while government spending commitments continue to rise .
In this article it is documented for the dollar , but the same hyperinflationary dynamics affect nearly all other fiat currencies .
In the last ten years I have waged two crusades to bring attention to issues I @ @ @ @ @ @ @ .
From 2011 , I wrote a series of articles about China ’ s gold policy , which had been accumulating physical gold from as long ago as 1983 .
The meme that gold was moving from west to east became broadly understood and almost a cliché .
The second crusade was to inform the public that the business or trade cycle was only the symptom of a cycle of bank credit , which inevitably ends in a crisis of credit contraction .
It is now time for a new campaign , on @ @ @ @ @ @ @ about in recent months , and that is to inform the wider public that their governments and their fiat currencies are now in a state of hyperinflation .
It is not a development on the far horizon as many might think ; it is already here .
To understand why hyperinflation is already with us is to know what constitutes hyperinflation .
It is not rising prices , or a condition that exists when prices increase above a predetermined rate : rising prices are the consequence of both inflation and hyperinflation .
As @ @ @ @ @ @ @ always and everywhere a monetary phenomenon , though he spoiled it by continuing , “ …in the sense it is and can be produced only by a more rapid increase in the quantity of money than in output.
” [ i ] He was wrong on that last bit , conflating the price effect with the increase in the quantity of money .
When even so-called monetarists are imprecise about inflation , let alone hyperinflation , it is hardly surprising public confusion is widespread .
There can only be one definition of hyperinflation @ @ @ @ @ @ @ above , which you won ’ t find in any textbook .
There is even no definition of it in von Mises ’ s Human Action , only of inflation , and that is more a description than a definition .
And since it is a relatively recent phenomenon of unbacked fiat currencies , hyperinflation was never defined separately from inflation by classical economists .
The difference between inflation and hyperinflation can not be distinguished by degree either .
Have a look at US M1 , the quantity of narrow money in the @ @ @ @ @ @ @ .
The progression of annualised monetary inflation from under 6 % before the Lehman crisis , to 9.6 % subsequently until March this year , and 65 % in the thirty weeks since is clear from the chart .
If the monetary authorities have the knowledge , the mandate , the authority , the ability and the desire to stop inflating the currency , we would not describe it as hyperinflation , instead deeming it to be no more than a brief period of exceptional inflation before a return to sound money policies @ @ @ @ @ @ @ in 1971 , when the post-war Bretton Woods agreement was finally abandoned — not that the monetary regime at that time was in any way sounder than Adam ’ s fig leaf was an item of clothing .
For the fact of the matter is that sound money in America was arguably abandoned long ago , with the founding of the Fed at Jekyll Island before the First World War .
As a means of funding government deficits , inflation is capable of being stopped by cutting government spending and/or raising taxes .
@ @ @ @ @ @ @ 65 % of narrow money is to be followed by another massive expansion already in the wings .
The hope is that that will be enough , just as the original 65 % increase in M1 was hoped to be enough to ensure a V-shaped recession would be followed by a return to normality .
The early stages of a hyperinflation are always seen by the monetary authorities as the only policy to pursue .
They convince themselves that there are either no consequences , or that they can be controlled .
An @ @ @ @ @ @ @ a paper by Michael T Kiley , a senior Fed economist .
[ ii ] In August he concluded that the lack of further room to cut interest rates to deal with the coronavirus requires quantitative easing to a total of 30 % of GDP , or $ 6.5 trillion , to offset the lack of room for manoeuvre on interest rates .
Kiley writes that about $ 3 trillion had been enacted between end-February and end-June , leaving a further $ 3.5 trillion to come .
If we assume the full $ @ @ @ @ @ @ @ February , then the increase reflected in narrow money could be to more than double it .
Kiley wrote his paper before the second coronavirus wave commenced .
He was modelling an economic contraction measured in real GDP of just 10 % in the second quarter ( actually 9.5 % — not to be confused with the annualised rate reported at 32.9 % ) .
But , as I pointed out in last week ’ s article , with monetary inflation running at such a rate , a dollar last February is not @ @ @ @ @ @ @ February , being diluted on Kiley ’ s figures by $ 6.5 trillion .
The consequence is some extremely damaging intertemporal shifts , as described in the Cantillon effect , whereby ultimately both productive workers and the poorest in society lose savings , salaries and social security benefits through loss of the dollar ’ s purchasing power for the benefit of the government , its agencies , and big business .
In his economic model , Kiley flattens the Phillips curve , apparently in an attempt to goal-seek a preferred outcome .
The @ @ @ @ @ @ @ the relationship between inflation and unemployment , the idea being that an increase in price inflation goes along with a reduction in unemployment .
Flattening it is the same as assuming that at a deemed level of full employment prices will not rise as much as previously modelled .
But it is one thing to forecast such a relationship when the inflation “ stimulus ” is in the order of a few per cent , when arguably the public is more aware of the stimulation effect of monetary inflation than they are of @ @ @ @ @ @ @ but it is another matter when it is as dramatic as it is today .
We must resist the temptation to accept a mathematical relationship between prices of goods and services and the rate of employment , such as predicted by the Phillip ’ s curve .
Whatever the level of employment , production adjusts because of the division of labour .
In their dismissal of Say ’ s law , modern economists fail to realise that production and consumption broadly march or retreat together .
Other than users of currency being temporarily @ @ @ @ @ @ @ stimulation , there is no enduring relationship between the quantity of money and employment .
Errors introduced by the mathematical economists through artifices such as the Phillips curve conceal the consequences of policies based on their forecasts at the outset .
Consequently , the recommendations of senior economists at the Fed using economic models based upon macroeconomic assumptions give false comfort to the committees they advise .
Furthermore , the annualised rate of the budget deficit since March was about $ 4.4 trillion , financed entirely through monetary expansion and significantly greater than @ @ @ @ @ @ @ these conditions persist in the new fiscal year — which seems increasingly certain , Kiley ’ s calculation of the further $ 3.5 trillion stimulus underestimates the problem .
According to an op-ed by Allister Heath in today ’ s Daily Telegraph , Larry Summers , the US economist and arch-inflationist , believes that the cost of covid-19 will reach 90 % of US GDP , substantially more than Kiley ’ s estimate of 30 % .
Over-dramatic perhaps ; but can we envisage that the forthcoming stimulus package , and then undoubtedly @ @ @ @ @ @ @ restore normality and set the budget deficit firmly in the direction towards a balance ?
If the answer is no , then we already have hyperinflation .
Dispensing with the assumptions of mathematical economists The error of the Phillips curve was to not understand why there is a point in the course of inflation where the currency ’ s users suspect that prices will continue to rise , and that a shift away from personal liquidity and saving in favour of consumer spending ensues .
That it is bound to happen beyond a @ @ @ @ @ @ @ point and the subsequent effect on the general level of prices can be predicted — that is down to human action , the unpredictable response of individual actors to their changing circumstances .
The Phillips curve is not the only error when it comes to understanding the effects of monetary inflation .
Finding that the relationship between the expansion of money and the effect on its purchasing power varied , the mathematical economists introduced a variable factor to ensure the equation describing the money relationship with prices always balanced .
The monetary equation @ @ @ @ @ @ @ a variable factor V to ensure the equation always balances , it disqualifies the utility of the equation itself : anything with two unequal sides can be turned into an equation by this artifice .
The imagination of the monetarists brushes over this truth by giving the variable a pejorative name .
By calling it “ velocity of money ” it creates an image of the circulation of money .
From there it is easy to assume that if money is underused , velocity of circulation drops and the economy is declared to @ @ @ @ @ @ @ circulation increases , it is said to be because money is demanded and circulates more effectively .
Falling velocity is thereby associated with falling prices for which nominal GDP is the proxy ( P x T in the equation ) , and rising velocity is associated with rising prices and rising GDP .
This concept is badly flawed , but it explains the fundamental precepts behind current monetary policy .
The consequences of changes in relative preferences Nominal GDP is not just the other side of the monetary equation .
It is also @ @ @ @ @ @ @ of total production is the sum of consumption and deferred consumption .
The correct way to regard money is not through the monetary equation and the supposed role of velocity , but to look at nominal GDP as both the total of everyone ’ s income and profits , and the sum of their expenditures and net savings .
Only then can we consider the impact of changes in the money quantity on prices .
Money is merely a form of intermediation between the production and consumption of goods .
People hold a @ @ @ @ @ @ @ when money is stable does not vary by much overall .
This liquidity must not be confused with savings , which being consumption deferred , are not primarily held for their liquidity but for anticipated returns .
Personal liquidity is held in reserve for personal consumption .
The general level of personal liquidity is the result of recent experiences of the value of money in terms of goods , modified by expectations of any change in the relative value of future goods .
Thus , if people think the price of a good @ @ @ @ @ @ @ buy it sooner than they would otherwise , and if they expect it to fall , they will tend to delay their purchase of it .
In generally stable monetary conditions , this is why some prices rise and others fall .
The trouble comes if for whatever reason people as a whole anticipate a rise in the general level of prices .
In that case , they will alter the relationship between their monetary liquidity and goods in favour of goods more generally , driving the purchasing power of the money down @ @ @ @ @ @ @ .
The effect of changes in the general level of personal liquidity is potentially a more important influence on the level of prices than the quantity of money itself .
It should be evident that if the increased quantity of money in circulation is simply hoarded , there will be no effect on the general level of prices .
Alternatively , if the public decides to abandon a state-issued currency , irrespective of the quantity in circulation it will lose all of its purchasing power .
The abandonment of a state-issued currency by @ @ @ @ @ @ @ the process is under way it tends to be rapid .
In Weimar Germany , it was said this flight into goods and out of money began in May 1923 and lasted to mid-November .
In the other European nations , which suffered collapses of their currencies in the early 1920s , the final process was equally swift .
The first thing to consider is the current relationship of the quantity of money to the economy .
US dollar M3 money supply , the broadest definition of money , has increased along with @ @ @ @ @ @ @ 18.327 trillion last July [ iii ] , while second quarter GDP was estimated at $ 19.52 trillion [ iv ] .
The closeness of the relationship between these two figures is explained by the nominal GDP total being inflated by increases in the money quantity .
The match is never perfect , because there is always some consumer expenditure which is subject to estimates , future revisions , or simply not captured by GDP .
To these we can add statistical error .
Furthermore , at the beginning of the inflation there @ @ @ @ @ @ @ GDP when money was sound from which subsequent inflations occurred .
The degree of the dollar ’ s loss of purchasing power is deliberately understated in official statistics .
Originally , the policy was to reduce the cost to US and other governments of indexation introduced following the 1970s decade of price inflation .
It is remarkable that the statistical suppression of changes in the general level of prices , now adopted in all advanced economies , is rarely questioned .
Consequently , the scale of the fall in the purchasing power of @ @ @ @ @ @ @ important consequences , at least for governments and their central banks , which are concealing evidence of the failures of monetary and economic policies .
Figure 2 compares the cumulative increase in the general level of prices measured by the CPI , and the Chapwood index — comprised of “ the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation ” .
[ v ] The Chapwood price inflation numbers used in the chart are the arithmetic average of the fifty cities , the @ @ @ @ @ @ @ Additionally , the growth of M3 money supply is included .
It should be clear that changes in the general level of prices are a theoretical concept which can not be measured , because it is different for every individual .
An average is therefore no more than an indication , even assuming the evidence is not manipulated by vested interests .
Bearing this in mind , the cumulative price effect of the official cities ’ CPI over the last ten years is for it to have risen by only 19 % , @ @ @ @ @ @ @ 159 % , compounding by about 10 % annually .
By way of confirmation that the Chapwood figures are closer to the truth , we see that USD M3 diluted the dollar by increasing 109 % over the period .
The lower increase in USD M3 relative to that of the Chapwood index suggests that as well as the dilution of the dollar ’ s spending power in a general sense , holdings of money have also been reduced relative to the commonly bought goods in the Chapwood index .
In other words @ @ @ @ @ @ @ preference in their spending for their common purchases over their less common purchases .
This could be taken to be evidence of the earliest stages of a reduction of money balances in favour of everyday purchases .
It is inconsistent with the official story upon which monetary policy is based , whereby the monetary authorities and their epigones delude themselves that price inflation is contained by the two per cent annual target , with some of them even claiming price inflation is banished for ever .
Figure 3 further illustrates the ineffectiveness of @ @ @ @ @ @ @ prices adjusted by the CPI ( the state ’ s version of real GDP ) , by the Chapwood index and finally by M3 money supply .
The monetary authorities claim that before the coronavirus crisis they had stabilised the US economy following the Lehman crisis .
Measured by the CPI , by end-2019 the economy had grown by nearly 22 % over nine years “ in real terms ” .
But because the CPI is a heavily supressed measure of price inflation , the truth is different .
The Chapwood index and @ @ @ @ @ @ @ these measures , GDP has more than halved from $ 15,241bn to $ 6,818 and $ 7,309bn respectively , measured by a base of 2010 dollars .
To be clear , GDP is simply a money total of all recorded transactions .
It does not tell us anything about their quality , or indicate the degree of economic progress , or the lack of it .
As always , there have been winners and losers .
We can only conclude in the most general of terms that the contraction of real values has @ @ @ @ @ @ @ policies .
Where it really matters is for governments , and the purchasing power of the taxes they collect .
A modern socialising government never reduces its expenditure , and budget deficits arise as a result of a reluctance to increase taxes to match spending .
Prima facie it is evidence of an emerging hyperinflation , in that the decline in the purchasing power of the currency is driving the fall in the real value of taxation receipts , while at the same time it is realised that to raise taxes would be @ @ @ @ @ @ @ therefore government finances .
Then came the coronavirus , an unexpected hit to nominal GDP , upon which government tax income depends .
And now we have a second covid-19 wave , the economic consequences of which can only be guessed .
Let us not forget that before all this happened , last September there was an emerging liquidity crisis evidenced by the failure in the dollar repo market , indicating , in all likelihood , the end of bank credit expansion .
And we should also remember that the trade tariff war @ @ @ @ @ @ @ economies brought the growth of international trade to a sudden halt .
Anyone with an eye for the economic consequences of all these developments can only conclude that in addition to the already growing gap between government spending and tax receipts , governments are not just having to rescue their tax bases from a one or two-off hit from the coronavirus , but further rounds of inflationary expansions will follow at an increasing pace .
Purely in terms of money quantities , hyperinflation is already well entrenched for the US dollar and all @ @ @ @ @ @ @ political and factual dynamics .
Very few are conscious that hyperinflation is already with us , the majority of people only becoming aware when the consequences for prices become obvious .
And as noted above , it is not a linear process , where V , or velocity , must be replaced by the human factor , where preferences change between holding a reserve of money liquidity and buying goods .
The final flight into goods is a rapid process , which once started is impossible to stop .
We have seen that @ @ @ @ @ @ @ , as measured by the Chapwood index and the increase in dollar M3 , suggests that the earliest stages of preferences for holding money are decreasing in favour of commonly bought goods : the process appears to have been subtly under way for a number of years .
Sceptics of the hyperinflation hypothesis might argue that the US Treasury owns over 8,000 tonnes of gold and could stop the rot at any time by returning to a gold standard .
One would hope so , but there is no sign that anyone in @ @ @ @ @ @ @ true situation .
Furthermore , having discarded gold as backing for the dollar forty-nine years ago it is inconceivable that the Fed and the Treasury would willingly put the clock back .
Furthermore , if I am right that the Chinese state not only controls physical gold markets but has a substantial cache of undeclared bullion , reinstating gold ’ s monetary role would be seen to hand enormous power to America ’ s enemies .
Besides , so long as there is any value left in the dollar foreigners are likely to @ @ @ @ @ @ @ Treasury .
And that is before the neo-Keynesian macroeconomists submit themselves for retraining , expunging themselves of all their fallacies .
No , the rotten ship USS Dollar is more likely to sink with the loss of all hands .
Meanwhile , the Fed announced unlimited monetary inflation on 23 March .
Shortly after , China began to accelerate sales of dollars in favour of stockpiling commodities , exhibiting the change in behaviour we can expect from the wider American public when it collectively realises it is money going down and not the @ @ @ @ @ @ @ March , following which China is reported to have started dumping dollars at an increased pace for commodities , mark the beginning of the final flight into goods ?
It is certainly possible , in which case hyperinflation of the dollar and of most other paper currencies will likely end in a final , unexpected collapse in purchasing power in a matter of only a few months .
[ ii ] Kiley , Michael T. ( 2020 ) .
“ Pandemic Recession Dynamics : The Role of Monetary Policy in Shifting a U-Shaped @ @ @ @ @ @ @ Finance and Economics Discussion Series 2020-083 .
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Definition: Hyperinflation is the condition whereby monetary authorities accelerate the expansion of the quantity of money to the point where it proves impossible for them to regain control.
It ends when the state’s fiat currency is finally worthless. It is an evolving crisis, not just a climactic event.
Summary
This article defines hyperinflation in simple terms, making it clear that most, if not all governments have already committed their unbacked currencies to destruction by hyperinflation. The evidence is now becoming plain to see.
The phenomenon is driven by the excess of government spending over tax receipts, which has already spiralled out of control in the US and elsewhere. The first round of the coronavirus has only served to make the problem more obvious to those who had already understood that the expansionary phase of the bank credit cycle was coming to an end, and by combining with the economic consequences of the trade tariff war between China and America we are condemned to a repeat of the conditions that led to the Wall Street crash of 1929—32.
For economic historians these should be statements of the obvious. The fact is that the tax base, which is quantified by GDP, when measured by the true rate of the dollar’s loss of purchasing power and confirmed by the accelerated rate of increase in broad money over the last ten years has been declining sharply in real terms while government spending commitments continue to rise.
In this article it is documented for the dollar,but the same hyperinflationary dynamics affect nearly all other fiat currencies.
Introduction
In the last ten years I have waged two crusades to bring attention to issues I believe to be in the public interest. From 2011, I wrote a series of articles about China’s gold policy, which had been accumulating physical gold from as long ago as 1983. The meme that gold was moving from west to east became broadly understood and almost a cliché. The second crusade was to inform the public that the business or trade cycle was only the symptom of a cycle of bank credit, which inevitably ends in a crisis of credit contraction.
It is now time for a new campaign, on a subject which I have been writing about in recent months, and that is to inform the wider public that their governments and their fiat currencies are now in a state of hyperinflation. It is not a development on the far horizon as many might think; it is already here.
What is hyperinflation?
To understand why hyperinflation is already with us is to know what constitutes hyperinflation. It is not rising prices, or a condition that exists when prices increase above a predetermined rate: rising prices are the consequence of both inflation and hyperinflation. As Milton Friedman put it, inflation is always and everywhere a monetary phenomenon, though he spoiled it by continuing, “…in the sense it is and can be produced only by a more rapid increase in the quantity of money than in output.”[i] He was wrong on that last bit, conflating the price effect with the increase in the quantity of money. When even so-called monetarists are imprecise about inflation, let alone hyperinflation, it is hardly surprising public confusion is widespread.
There can only be one definition of hyperinflation, and that is the one headlined above, which you won’t find in any textbook. There is even no definition of it in von Mises’s Human Action, only of inflation, and that is more a description than a definition. And since it is a relatively recent phenomenon of unbacked fiat currencies, hyperinflation was never defined separately from inflation by classical economists. The difference between inflation and hyperinflation cannot be distinguished by degree either.
Have a look at US M1, the quantity of narrow money in the American economy, shown in Figure 1.
The progression of annualised monetary inflation from under 6% before the Lehman crisis, to 9.6% subsequently until March this year, and 65% in the thirty weeks since is clear from the chart. If the monetary authorities have the knowledge, the mandate, the authority, the ability and the desire to stop inflating the currency, we would not describe it as hyperinflation, instead deeming it to be no more than a brief period of exceptional inflation before a return to sound money policies.
But sound money was emphatically discarded in 1971, when the post-war Bretton Woods agreement was finally abandoned — not that the monetary regime at that time was in any way sounder than Adam’s fig leaf was an item of clothing. For the fact of the matter is that sound money in America was arguably abandoned long ago, with the founding of the Fed at Jekyll Island before the First World War.
As a means of funding government deficits, inflation is capable of being stopped by cutting government spending and/or raising taxes. But now, a one-off increase of 65% of narrow money is to be followed by another massive expansion already in the wings. The hope is that that will be enough, just as the original 65% increase in M1 was hoped to be enough to ensure a V-shaped recession would be followed by a return to normality.
The early stages of a hyperinflation are always seen by the monetary authorities as the only policy to pursue. They convince themselves that there are either no consequences, or that they can be controlled. An example of the genre is found in a paper by Michael T Kiley, a senior Fed economist.[ii] In August he concluded that the lack of further room to cut interest rates to deal with the coronavirus requires quantitative easing to a total of 30% of GDP, or $6.5 trillion, to offset the lack of room for manoeuvre on interest rates. Kiley writes that about $3 trillion had been enacted between end-February and end-June, leaving a further $3.5 trillion to come. If we assume the full $6.5 trillion stimulus is enacted by next February, then the increase reflected in narrow money could be to more than double it.
Kiley wrote his paper before the second coronavirus wave commenced. He was modelling an economic contraction measured in real GDP of just 10% in the second quarter (actually 9.5% — not to be confused with the annualised rate reported at 32.9%). But, as I pointed out in last week’s article, with monetary inflation running at such a rate, a dollar last February is not the same as an inflated dollar next February, being diluted on Kiley’s figures by $6.5 trillion. The consequence is some extremely damaging intertemporal shifts, as described in the Cantillon effect, whereby ultimately both productive workers and the poorest in society lose savings, salaries and social security benefits through loss of the dollar’s purchasing power for the benefit of the government, its agencies, and big business.
In his economic model, Kiley flattens the Phillips curve, apparently in an attempt to goal-seek a preferred outcome. The Phillips curve is meant to replicate graphically the relationship between inflation and unemployment, the idea being that an increase in price inflation goes along with a reduction in unemployment. Flattening it is the same as assuming that at a deemed level of full employment prices will not rise as much as previously modelled. But it is one thing to forecast such a relationship when the inflation “stimulus” is in the order of a few per cent, when arguably the public is more aware of the stimulation effect of monetary inflation than they are of the dilutionary effect on the money, but it is another matter when it is as dramatic as it is today.
We must resist the temptation to accept a mathematical relationship between prices of goods and services and the rate of employment, such as predicted by the Phillip’s curve. Whatever the level of employment, production adjusts because of the division of labour. In their dismissal of Say’s law, modern economists fail to realise that production and consumption broadly march or retreat together. Other than users of currency being temporarily conned by the initial effects of monetary stimulation, there is no enduring relationship between the quantity of money and employment.
Errors introduced by the mathematical economists through artifices such as the Phillips curve conceal the consequences of policies based on their forecasts at the outset. Consequently, the recommendations of senior economists at the Fed using economic models based upon macroeconomic assumptions give false comfort to the committees they advise. Furthermore, the annualised rate of the budget deficit since March was about $4.4 trillion, financed entirely through monetary expansion and significantly greater than covered by declining tax income.
If these conditions persist in the new fiscal year — which seems increasingly certain, Kiley’s calculation of the further $3.5 trillion stimulus underestimates the problem. According to an op-ed by Allister Heath in today’s Daily Telegraph, Larry Summers, the US economist and arch-inflationist, believes that the cost of covid-19 will reach 90% of US GDP, substantially more than Kiley’s estimate of 30%. Over-dramatic perhaps; but can we envisage that the forthcoming stimulus package, and then undoubtedly the one to follow that, will restore normality and set the budget deficit firmly in the direction towards a balance? If the answer is no, then we already have hyperinflation.
Dispensing with the assumptions of mathematical economists
The error of the Phillips curve was to not understand why there is a point in the course of inflation where the currency’s users suspect that prices will continue to rise, and that a shift away from personal liquidity and saving in favour of consumer spending ensues. That it is bound to happen beyond a certain point does not mean that the point and the subsequent effect on the general level of prices can be predicted — that is down to human action, the unpredictable response of individual actors to their changing circumstances.
The Phillips curve is not the only error when it comes to understanding the effects of monetary inflation. Finding that the relationship between the expansion of money and the effect on its purchasing power varied, the mathematical economists introduced a variable factor to ensure the equation describing the money relationship with prices always balanced. The monetary equation is as follows:
But by introducing a variable factor V to ensure the equation always balances, it disqualifies the utility of the equation itself: anything with two unequal sides can be turned into an equation by this artifice. The imagination of the monetarists brushes over this truth by giving the variable a pejorative name. By calling it “velocity of money” it creates an image of the circulation of money. From there it is easy to assume that if money is underused, velocity of circulation drops and the economy is declared to stagnate, and if its velocity of circulation increases, it is said to be because money is demanded and circulates more effectively. Falling velocity is thereby associated with falling prices for which nominal GDP is the proxy (P x T in the equation), and rising velocity is associated with rising prices and rising GDP. This concept is badly flawed, but it explains the fundamental precepts behind current monetary policy.
The consequences of changes in relative preferences
Nominal GDP is not just the other side of the monetary equation. It is also total production, and the other side of total production is the sum of consumption and deferred consumption. The correct way to regard money is not through the monetary equation and the supposed role of velocity, but to look at nominal GDP as both the total of everyone’s income and profits, and the sum of their expenditures and net savings. Only then can we consider the impact of changes in the money quantity on prices.
Money is merely a form of intermediation between the production and consumption of goods. People hold a degree of personal monetary liquidity, which when money is stable does not vary by much overall. This liquidity must not be confused with savings, which being consumption deferred, are not primarily held for their liquidity but for anticipated returns. Personal liquidity is held in reserve for personal consumption.
The general level of personal liquidity is the result of recent experiences of the value of money in terms of goods, modified by expectations of any change in the relative value of future goods. Thus, if people think the price of a good might rise, they will tend to buy it sooner than they would otherwise, and if they expect it to fall, they will tend to delay their purchase of it. In generally stable monetary conditions, this is why some prices rise and others fall.
The trouble comes if for whatever reason people as a whole anticipate a rise in the general level of prices. In that case, they will alter the relationship between their monetary liquidity and goods in favour of goods more generally, driving the purchasing power of the money down and the general level of prices up.
The effect of changes in the general level of personal liquidity is potentially a more important influence on the level of prices than the quantity of money itself. It should be evident that if the increased quantity of money in circulation is simply hoarded, there will be no effect on the general level of prices. Alternatively, if the public decides to abandon a state-issued currency, irrespective of the quantity in circulation it will lose all of its purchasing power.
The abandonment of a state-issued currency by the public terminates all hyperinflations and once the process is under way it tends to be rapid. In Weimar Germany, it was said this flight into goods and out of money began in May 1923 and lasted to mid-November. In the other European nations, which suffered collapses of their currencies in the early 1920s, the final process was equally swift.
The form of today’s monetary collapse
The first thing to consider is the current relationship of the quantity of money to the economy. US dollar M3 money supply, the broadest definition of money, has increased along with US GDP: M3 stood at $18.327 trillion last July[iii], while second quarter GDP was estimated at $19.52 trillion[iv]. The closeness of the relationship between these two figures is explained by the nominal GDP total being inflated by increases in the money quantity. The match is never perfect, because there is always some consumer expenditure which is subject to estimates, future revisions, or simply not captured by GDP. To these we can add statistical error. Furthermore, at the beginning of the inflation there would have been a base level for GDP when money was sound from which subsequent inflations occurred.
The degree of the dollar’s loss of purchasing power is deliberately understated in official statistics. Originally, the policy was to reduce the cost to US and other governments of indexation introduced following the 1970s decade of price inflation. It is remarkable that the statistical suppression of changes in the general level of prices, now adopted in all advanced economies, is rarely questioned. Consequently, the scale of the fall in the purchasing power of fiat currencies has been ignored with some important consequences, at least for governments and their central banks, which are concealing evidence of the failures of monetary and economic policies.
Figure 2 compares the cumulative increase in the general level of prices measured by the CPI, and the Chapwood index — comprised of “the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation”.[v] The Chapwood price inflation numbers used in the chart are the arithmetic average of the fifty cities, the last data points being end-June 2020. Additionally, the growth of M3 money supply is included.
It should be clear that changes in the general level of prices are a theoretical concept which cannot be measured, because it is different for every individual. An average is therefore no more than an indication, even assuming the evidence is not manipulated by vested interests. Bearing this in mind, the cumulative price effect of the official cities’ CPI over the last ten years is for it to have risen by only 19%, compared with the Chapwood index which rose 159%, compounding by about 10% annually. By way of confirmation that the Chapwood figures are closer to the truth, we see that USD M3 diluted the dollar by increasing 109% over the period.
The lower increase in USD M3 relative to that of the Chapwood index suggests that as well as the dilution of the dollar’s spending power in a general sense, holdings of money have also been reduced relative to the commonly bought goods in the Chapwood index. In other words, consumers appear to show a relative preference in their spending for their common purchases over their less common purchases. This could be taken to be evidence of the earliest stages of a reduction of money balances in favour of everyday purchases. It is inconsistent with the official story upon which monetary policy is based, whereby the monetary authorities and their epigones delude themselves that price inflation is contained by the two per cent annual target, with some of them even claiming price inflation is banished for ever.
Figure 3 further illustrates the ineffectiveness of monetary policy by expressing GDP in 2010 prices adjusted by the CPI (the state’s version of real GDP), by the Chapwood index and finally by M3 money supply.
The monetary authorities claim that before the coronavirus crisis they had stabilised the US economy following the Lehman crisis. Measured by the CPI, by end-2019 the economy had grown by nearly 22% over nine years “in real terms”. But because the CPI is a heavily supressed measure of price inflation, the truth is different. The Chapwood index and USD M3 tell us that adjusted by these measures, GDP has more than halved from $15,241bn to $6,818 and $7,309bn respectively, measured by a base of 2010 dollars.
To be clear, GDP is simply a money total of all recorded transactions. It does not tell us anything about their quality, or indicate the degree of economic progress, or the lack of it. As always, there have been winners and losers. We can only conclude in the most general of terms that the contraction of real values has exposed the failure of monetary and economic policies.
Where it really matters is for governments, and the purchasing power of the taxes they collect.
A modern socialising government never reduces its expenditure, and budget deficits arise as a result of a reluctance to increase taxes to match spending. Prima facie it is evidence of an emerging hyperinflation, in that the decline in the purchasing power of the currency is driving the fall in the real value of taxation receipts, while at the same time it is realised that to raise taxes would be harmful to production, consumption, and therefore government finances.
Then came the coronavirus, an unexpected hit to nominal GDP, upon which government tax income depends. And now we have a second covid-19 wave, the economic consequences of which can only be guessed. Let us not forget that before all this happened, last September there was an emerging liquidity crisis evidenced by the failure in the dollar repo market, indicating, in all likelihood, the end of bank credit expansion. And we should also remember that the trade tariff war between the world’s two largest economies brought the growth of international trade to a sudden halt.
Anyone with an eye for the economic consequences of all these developments can only conclude that in addition to the already growing gap between government spending and tax receipts, governments are not just having to rescue their tax bases from a one or two-off hit from the coronavirus, but further rounds of inflationary expansions will follow at an increasing pace. Purely in terms of money quantities, hyperinflation is already well entrenched for the US dollar and all other fiat currencies subject to the same political and factual dynamics.
When the public wakes up…
Very few are conscious that hyperinflation is already with us, the majority of people only becoming aware when the consequences for prices become obvious. And as noted above, it is not a linear process, where
M x V = P x T.
V, or velocity, must be replaced by the human factor, where preferences change between holding a reserve of money liquidity and buying goods. The final flight into goods is a rapid process, which once started is impossible to stop. We have seen that the relationship between the rise in prices, as measured by the Chapwood index and the increase in dollar M3, suggests that the earliest stages of preferences for holding money are decreasing in favour of commonly bought goods: the process appears to have been subtly under way for a number of years.
Sceptics of the hyperinflation hypothesis might argue that the US Treasury owns over 8,000 tonnes of gold and could stop the rot at any time by returning to a gold standard. One would hope so, but there is no sign that anyone in charge has the faintest clue of the true situation. Furthermore, having discarded gold as backing for the dollar forty-nine years ago it is inconceivable that the Fed and the Treasury would willingly put the clock back. Furthermore, if I am right that the Chinese state not only controls physical gold markets but has a substantial cache of undeclared bullion, reinstating gold’s monetary role would be seen to hand enormous power to America’s enemies. Besides, so long as there is any value left in the dollar foreigners are likely to swap them for gold at the US Treasury.
And that is before the neo-Keynesian macroeconomists submit themselves for retraining, expunging themselves of all their fallacies. No, the rotten ship USS Dollar is more likely to sink with the loss of all hands.
Meanwhile, the Fed announced unlimited monetary inflation on 23 March. Shortly after, China began to accelerate sales of dollars in favour of stockpiling commodities, exhibiting the change in behaviour we can expect from the wider American public when it collectively realises it is money going down and not the prices of everything rising. Did 23 March, following which China is reported to have started dumping dollars at an increased pace for commodities, mark the beginning of the final flight into goods?
It is certainly possible, in which case hyperinflation of the dollar and of most other paper currencies will likely end in a final, unexpected collapse in purchasing power in a matter of only a few months.
—
[i] Friedman (1970) The Counter-Revolution in Monetary Theory.
[ii] Kiley, Michael T. (2020). “Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound,” Finance and Economics Discussion Series 2020-083. Washington: Board of Governors of the Federal Reserve System, https://doi.org/10.17016/FEDS.2020.083
[iii] https://fred.stlouisfed.org/series/MABMM301USM189S
[iv] https://www.bea.gov/news/2020/gross-domestic-product-third-estimate-corporate-profits-revised-and-gdp-industry-annual
[v] See www.chapwoodindex.com
Reprinted with permission from Goldmoney.com.
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prepareforchange--2020-10-19--Mike Pompeo says China’s New York Consulate is a Spy Hub

And now for something completely different : Disclaimer : We at Prepare for Change ( PFC ) bring you information @ @ @ @ @ the mainstream news , and therefore may seem controversial .
The opinions , views , @ @ @ @ @ present are not necessarily promoted , endorsed , espoused , or agreed to by Prepare @ @ @ @ @ Council , members , those who work with PFC , or those who read its @ @ @ @ @ are hopefully provocative .
Please use discernment !
Use logical thinking , your own intuition @ @ @ @ @ Source , Spirit and Natural Laws to help you determine what is true and what @ @ @ @ @ information and seeding dialogue , it is our goal to raise consciousness and awareness of @ @ @ @ @ from enslavement of the matrix in this material realm .

And now for something completely different:
https://youtu.be/8bXgULtz6cI
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prepareforchange--2020-10-19--Lorie Ladd – The Event

Lorie Ladd – The Event

From our friend Lorie Ladd , a new perspective on The Event .
Good news !
Disclaimer : We at @ @ @ @ @ ) bring you information that is not offered by the mainstream news , and therefore @ @ @ @ @ opinions , views , statements , and/or information we present are not necessarily promoted , @ @ @ @ @ agreed to by Prepare for Change , its leadership Council , members , those who @ @ @ @ @ those who read its content .
However , they are hopefully provocative .
Please use @ @ @ @ @ , your own intuition and your own connection with Source , Spirit and Natural Laws @ @ @ @ @ is true and what is not .
By sharing information and seeding dialogue , it @ @ @ @ @ consciousness and awareness of higher truths to free us from enslavement of the matrix in @ @ @ @

From our friend Lorie Ladd, a new perspective on The Event. Good news!
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prepareforchange--2020-10-19--New York: The Example America Should Not Follow

New York City is becoming an economic basket case .
“ ‘ We ’ re at war ’ : New York City Faces a Financial Abyss , ” screams a New York Times headline .
New York City ’ s unemployment rate stands at 16 % , double the nation ’ s average .
Yet , even in the midst of a “ financial abyss , ” the animosity of New York ’ s liberal elite remains undeterred in its hostility toward free enterprise and entrepreneurship , the pillars of job creation and economic recovery .
In a latest example @ @ @ @ @ @ @ pulled out of a proposed project , Industry City , that was estimated to bring 20,000 jobs and $ 100 million in tax revenue to New York City .
After several years of fighting opposition to get approval for rezoning that would have made the project possible , they threw in the towel .
The project was slated to bring “ a million square feet of commercial , retail , and community space , ” according to Spectrum News NY1 .
The Brooklyn neighborhood where the development would have been located , Sunset @ @ @ @ @ @ @ 29 % , per 2018 statistics .
But liberal disdain for capitalism far exceeds alleged concerns about poverty .
The City Council member who represents the district and led the fight against the project , Carlos Menchaca , celebrated the announcement of its demise .
“ What the community wants is not a private developer with private money to come in and bail out a neighborhood , ” he said .
“ They really want the city of New York to come in and say we ’ re gon na bring capital infrastructure @ @ @ @ @ @ @ Deal at a city level , to really bring jobs that are connected to our community and in the community ’ s vision.
” This while current deficit projections for New York state and New York City are $ 14.5 billion and $ 9 billion , respectively .
Neither Gov .
Andrew Cuomo nor New York City Mayor Bill de Blasio had a word in support of the project , while both turn to Washington looking for a bailout from U.S. taxpayers .
Democratic New York Reps. Nydia Velazquez , Jerrold Nadler , @ @ @ @ @ @ @ in against the project .
Menchaca questioned the projections for the number of jobs that would be created .
One of the development firms behind the project , Jamestown , has an established track record of success .
It developed Chelsea Market in New York City ’ s Chelsea neighborhood .
According to reports , Chelsea Market attracts 500,000 locals and tourists every month .
In 2018 , Jamestown sold it to Google for $ 2.4 billion .
Appropriate comparisons are being made to the killing of Amazon ’ s initiative in 2019 @ @ @ @ @ @ @ York ’ s Long Island City .
High-profile opposition from the left included Rep. Alexandria Ocasio-Cortez .
Like Menchaca , Ocasio-Cortez celebrated Amazon ’ s decision to kill the project and questioned Amazon ’ s projection of jobs that would have been created .
“ People are saying 25,000 jobs at $ 125,000 average , which has never happened anywhere , ” Ocasio-Cortez said then .
Just over recent weeks , Amazon announced it has 33,000 corporate and technology jobs open across the country offering “ a total annual compensation of $ 150,000 @ @ @ @ @ @ @ ” as widely reported in the press .
The company also recently announced expansion of its workforce by 100,000 , with pay beginning at $ 15 per hour , plus benefits .
Amazon hired 175,000 temporary workers earlier in the year , at the beginning of the pandemic , and in May announced that 70 % would be retained permanently .
In contrast to New York , Detroit City Council member Roy McCalister Jr. writes exuberantly in Crain ’ s Detroit Business about Amazon ’ s plans to bring 1,200 jobs in a @ @ @ @ @ @ @ $ 43 million in tax revenue in the 10 years following the opening of the facility.
” New York should be a poster child for the nation about what not to do , about the path we should not take .
Anyone who cares about the poor , who cares about our nation ’ s recovery and growth should fight to prevent the stifling of our system of free enterprise by confused , self-important political ideologues of the left .
Disclaimer : We at Prepare for Change ( PFC ) bring you information @ @ @ @ @ @ @ news , and therefore may seem controversial .
The opinions , views , statements , and/or information we present are not necessarily promoted , endorsed , espoused , or agreed to by Prepare for Change , its leadership Council , members , those who work with PFC , or those who read its content .
However , they are hopefully provocative .
Please use discernment !
Use logical thinking , your own intuition and your own connection with Source , Spirit and Natural Laws to help you determine what is true and what @ @ @ @ @ @ @ seeding dialogue , it is our goal to raise consciousness and awareness of higher truths to free us from enslavement of the matrix in this material realm .

By Star Parker,
New York City is becoming an economic basket case.
“‘We’re at war’: New York City Faces a Financial Abyss,” screams a New York Times headline.
New York City’s unemployment rate stands at 16%, double the nation’s average.
Yet, even in the midst of a “financial abyss,” the animosity of New York’s liberal elite remains undeterred in its hostility toward free enterprise and entrepreneurship, the pillars of job creation and economic recovery.
In a latest example, commercial real estate development firms have pulled out of a proposed project, Industry City, that was estimated to bring 20,000 jobs and $100 million in tax revenue to New York City. After several years of fighting opposition to get approval for rezoning that would have made the project possible, they threw in the towel.
The project was slated to bring “a million square feet of commercial, retail, and community space,” according to Spectrum News NY1.
The Brooklyn neighborhood where the development would have been located, Sunset Park, has a poverty rate of 29%, per 2018 statistics.
But liberal disdain for capitalism far exceeds alleged concerns about poverty.
The City Council member who represents the district and led the fight against the project, Carlos Menchaca, celebrated the announcement of its demise.
“What the community wants is not a private developer with private money to come in and bail out a neighborhood,” he said. “They really want the city of New York to come in and say we’re gonna bring capital infrastructure funding to bring in the Green New Deal at a city level, to really bring jobs that are connected to our community and in the community’s vision.”
This while current deficit projections for New York state and New York City are $14.5 billion and $9 billion, respectively.
Neither Gov. Andrew Cuomo nor New York City Mayor Bill de Blasio had a word in support of the project, while both turn to Washington looking for a bailout from U.S. taxpayers.
Democratic New York Reps. Nydia Velazquez, Jerrold Nadler, Yvette Clarke, and Hakeem Jeffries weighed in against the project.
Menchaca questioned the projections for the number of jobs that would be created.
One of the development firms behind the project, Jamestown, has an established track record of success. It developed Chelsea Market in New York City’s Chelsea neighborhood. According to reports, Chelsea Market attracts 500,000 locals and tourists every month. In 2018, Jamestown sold it to Google for $2.4 billion.
Appropriate comparisons are being made to the killing of Amazon’s initiative in 2019 to build a new headquarters in New York’s Long Island City. High-profile opposition from the left included Rep. Alexandria Ocasio-Cortez.
Like Menchaca, Ocasio-Cortez celebrated Amazon’s decision to kill the project and questioned Amazon’s projection of jobs that would have been created.
“People are saying 25,000 jobs at $125,000 average, which has never happened anywhere,” Ocasio-Cortez said then.
Just over recent weeks, Amazon announced it has 33,000 corporate and technology jobs open across the country offering “a total annual compensation of $150,000, including salary and stock awards,” as widely reported in the press.
The company also recently announced expansion of its workforce by 100,000, with pay beginning at $15 per hour, plus benefits.
Amazon hired 175,000 temporary workers earlier in the year, at the beginning of the pandemic, and in May announced that 70% would be retained permanently.
In contrast to New York, Detroit City Council member Roy McCalister Jr. writes exuberantly in Crain’s Detroit Business about Amazon’s plans to bring 1,200 jobs in a new development that will bring Detroit “$43 million in tax revenue in the 10 years following the opening of the facility.”
New York should be a poster child for the nation about what not to do, about the path we should not take.
Anyone who cares about the poor, who cares about our nation’s recovery and growth should fight to prevent the stifling of our system of free enterprise by confused, self-important political ideologues of the left.
Source: CREATORS.COM
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prepareforchange--2020-10-19--Operation Coronavirus is Working Hand-in-Hand with the Nanotech Agenda

• THE STORY : It ’ s an openly admitted fact the current COVID vaccines in development will be nanotech vaccines , using a variety of nanotech platforms and delivery systems .
• THE IMPLICATIONS : COVID is a pretext to push forward the sinister nanotech agenda – the infiltration of the human body with nanosensors capable of transmitting and receiving data .
involving the placement of tiny sensors , devices and machines measured in nanometers inside the human body – is receiving a boost from the current fake pandemic which I have labeled Operation Coronavirus .
My earlier article @ @ @ @ @ @ @ Used in COVID Vaccines ?
discussed the possibility that the coming COVID vaccines may incorporate nanotechnology funded by DARPA called hydrogel , a biosensor which would monitor your body as well as send and receive information to the 5G Smart Grid .
However there is much , much more to the story .
The NWO conspirators have not only been planning this scamdemic for decades , but also have been planning the nanotech agenda for a long time too ; now , with the advent of COVID , the two agendas are merging @ @ @ @ @ @ @ This article will take a closer look at the nanotech agenda and the current state of nanotechnology inside existing products such as vaccines .
The agenda is already far more advanced than many people realize .
A 2008 research paper entitled Nanorobot Hardware Architecture for Medical Defense analyzes in fine detail how nanotech devices such as nanorobots could be used to for various purposes such as “ medical defense ” and “ epidemic control.
” It states that it provides details on an “ integrated platform and hardware architecture for nanorobots application in @ @ @ @ @ @ @ time in vivo prognosis of biohazard infection.
” The idea is to place nanotech inside our bodies which communicates in real time with the Smart Grid ( powered by 5G ) to provide intimate information to the authorities about us .
Wayne from Alchemical Tech Revolution does a great commentary here .
Following are some quotes from the paper : Notice how they admit that there is dual use ( for military and civilians ) which usually connotes a weapons system with another use .
In this case , they are disguising the @ @ @ @ @ @ @ the superficial purpose ( a medical application ) : The above quote hypes the danger of contagion , and specifically a virus , as a reason for you to willingly submit to the nanotech agenda and get embedded with nanotechnology .
It appeals to the concepts of contagion and germ theory , however especially since the COVID scamdemic began , a number of brave independent researchers and doctors are questioning these ideas , which reinforce the current Medical Industry ’ s business model of petrochemical pills and vaccines .
As Wayne says , @ @ @ @ @ @ @ .
Forget an app on your phone ; the plan is for in vivo ( taking place in a living organism ) surveillance .
There are many significant quotes from the paper , but here is one last one : Is the implication that there could be damage if frequencies are higher than 20MHz , such as in the 30-100 GHz range of 5G ?
The nanotech invasion is already here .
It ’ s not a question of “ will they place nanotech in vaccines ” since they already have .
This @ @ @ @ @ @ @ on Vaccines : Micro- and Nanocontamination details an astonishing array of nanocontaminants in vaccines , including particles made of lead , cadmium , cerium , iron , titanium , nickel , zirconium , hafnium , strontium , tungsten , gold , silver , platinum , antimony , bismuth and aluminum .
The study ( which analyzes 44 types of 15 traditional vaccines ) states that these contaminants are “ non biodegradable and non biocompatible ” , that their inclusion is “ not declared ” and that their presence is “ inexplicable.
” It @ @ @ @ @ @ @ Big Pharma and its controllers when it concludes that “ our hypothesis is that this contamination is unintentional , since it is probably due to polluted components or procedures of industrial processes ( e.g .
filtrations ) used to produce vaccines , not investigated and not detected by the Producers .
If our hypothesis is actually the case , a close inspection of the working places and the full knowledge of the whole procedure of vaccine preparation would probably allow to eliminate the problem.
” Knowing the background of the human microchipping and @ @ @ @ @ @ @ is another way to see things .
The study reveals how these nanoparticles can interact with the body in negative ways and cause harmful effects : “ … investigations revealed that some particles are embedded in a biological substrate , probably proteins , endo-toxins and residues of bacteria .
As soon as a particle comes in contact with proteic fluids , a nano-bio-interaction occurs and a “ protein corona ” is formed .
The nano-bio-interaction generates a bigger-sized compound that is not biodegradable and can induce adverse effects , since it is not @ @ @ @ @ @ @ Figure 5a-5f show examples of these nano-bio-interactions .
Aggregates can be seen ( stable composite entities ) containing particles of Lead in Meningitec , of stainless steel ( Iron , Chromium and Nickel ) and of Copper , Zinc and Lead in Cervarix.
” “ After being injected , those microparticles , nanoparticles and aggregates can stay around the injection site forming swellings and granulomas … But they can also be carried by the blood circulation , escaping any attempt to guess what will be their final destination … As happens with all @ @ @ @ @ @ @ they induce an inflammatory reaction that is chronic because most of those particles can not be degraded .
Furthermore , the protein-corona effect … due to a nano-bio-interaction … can produce organic/inorganic composite particles capable of stimulating the immune system in an undesirable way … It is impossible not to add that particles the size often observed in vaccines can enter cell nuclei and interact with the DNA … “ “ In some cases , e.g .
as occurs with Iron and some Iron alloys , they can corrode and the corrosion products @ @ @ @ @ @ @ “ So here is the question to ponder : are these so-called accidental and dangerous nanocontaminants just particles that deleteriously affect human health in numerous ways , or are they also nanosensors that can receive and transmit data to the Smart Grid ?
Nanotechnology is at the Forefront of Cutting-Edge Vaccine Research The nanotech agenda is closely connected to vaccines .
For example , this 2019 study Nanoparticle-Based Vaccines Against Respiratory Viruses touts the advantages of nanotech vaccines : This July 2020 study COVID-19 vaccine development and a potential nanomaterial path forward explains @ @ @ @ @ @ @ will be included in future vaccines : The coming Moderna COVID vaccine funded by NWO frontman and eugenicist Bill Gates is a new type of technology : an mRNA vaccine that uses nanotechnology .
This goes for other COVID vaccines that are being developed .
The COVID plandemic is being used as a pretext to rush forward even faster with nanotech vaccines , which ultimately accelerates the central NWO ( New World Order ) scheme : the human microchipping agenda .
The nanotech agenda via COVID is on full display : This is @ @ @ @ @ @ @ !
All the things that many alternative researchers have been writing , talking and warning about for years are arriving .
Operation Coronavirus is the gateway to bring in the New World Order .
COVID has been the excuse offered by tyrants for just about every draconian restriction under the sun .
Now , with the coming COVID vaccine , we know it will include some kind of nanotechnology , since as I have outlined above , there are a plethora of nanotechnology platforms being developed in addition to things like hydrogel .
@ @ @ @ @ @ @ are openly stating that there will be nanotech COVID vaccines .
With plans to make this vaccine widepsread , administed by the military ( as admitted in both the US and the UK ) and “ as mandatory as possible ” ( according to Aussie PM Scott Morrison ) , time is running out for people to wake up to the nanotech agenda – before it ’ s too late .
Makia Freeman is the editor of alternative media / independent news site The Freedom Articles , author of the book Cancer : @ @ @ @ @ @ @ Solutions and senior researcher at ToolsForFreedom.com .
Makia is on Steemit and Parler .
Disclaimer : We at Prepare for Change ( PFC ) bring you information that is not offered by the mainstream news , and therefore may seem controversial .
The opinions , views , statements , and/or information we present are not necessarily promoted , endorsed , espoused , or agreed to by Prepare for Change , its leadership Council , members , those who work with PFC , or those who read its content .
However , they are @ @ @ @ @ @ @ Use logical thinking , your own intuition and your own connection with Source , Spirit and Natural Laws to help you determine what is true and what is not .
By sharing information and seeding dialogue , it is our goal to raise consciousness and awareness of higher truths to free us from enslavement of the matrix in this material realm .

By Maria Freeman,
AT A GLANCE…
THE STORY:It’s an openly admitted fact the current COVID vaccines in development will be nanotech vaccines, using a variety of nanotech platforms and delivery systems.
THE IMPLICATIONS:COVID is a pretext to push forward the sinister nanotech agenda – the infiltration of the human body with nanosensors capable of transmitting and receiving data.
The nanotech agenda –
involving the placement of tiny sensors, devices and machines measured in nanometers inside the human body – is receiving a boost from the current fake pandemic which I have labeled Operation Coronavirus. My earlier article Hydrogel Biosensor: Implantable Nanotech to be Used in COVID Vaccines? discussed the possibility that the coming COVID vaccines may incorporate nanotechnology funded by DARPA called hydrogel, a biosensor which would monitor your body as well as send and receive information to the 5G Smart Grid. However there is much, much more to the story. The NWO conspirators have not only been planning this scamdemic for decades, but also have been planning the nanotech agenda for a long time too; now, with the advent of COVID, the two agendas are merging, with sinister implications for humanity. This article will take a closer look at the nanotech agenda and the current state of nanotechnology inside existing products such as vaccines. The agenda is already far more advanced than many people realize.
2008 Paper Outlines Plan to Construct a Nanorobot Hardware Architecture
A 2008 research paper entitled Nanorobot Hardware Architecture for Medical Defense analyzes in fine detail how nanotech devices such as nanorobots could be used to for various purposes such as “medical defense” and “epidemic control.” It states that it provides details on an “integrated platform and hardware architecture for nanorobots application in epidemic control, which should enable real time in vivo prognosis of biohazard infection.” The idea is to place nanotech inside our bodies which communicates in real time with the Smart Grid (powered by 5G) to provide intimate information to the authorities about us. Wayne from Alchemical Tech Revolution does a great commentary here. Following are some quotes from the paper:
“Normally, for areas in public calamity or conflict zones, the absence of drinking water, any sort of fuel, electricity, and the lack of towers for network communication, including cable and wireless telephony, is a constant. In such a situation, the available infrastructure is far from ideal to enable a large scale medical laboratory with precise and fast analysis. For such aspect, nanorobots integrated with nanobiosensors can help to transmit real time information, using international mobile phones for wireless data transmission through satellite communication. In fact, nanorobots should mean an efficient and powerful clinical device to provide precious biomedical monitoring, both for soldiers as for civilian population.”
Notice how they admit that there is dual use (for military and civilians) which usually connotes a weapons system with another use. In this case, they are disguising the deeper purpose (embedded surveillance) with the superficial purpose (a medical application):
“Taking from the moment of infection, some contagious diseases may show the first symptoms after hours, a week, or longer time, like years or even decades. It means, for example, that when the public authorities noticed the infection from a contaminated person, showing external symptoms, a virus had enough time to spread itself through a circle of friends and workmates of the infected victim. Meantime, those mates were adversely driving the virus forward, and had started a catastrophic chain circle. The use of nanorobots with embedded nanodevices for real time epidemic control, as lab on a chip, can be useful to avoid serious contamination with large proportions.”
The above quote hypes the danger of contagion, and specifically a virus, as a reason for you to willingly submit to the nanotech agenda and get embedded with nanotechnology. It appeals to the concepts of contagion and germ theory, however especially since the COVID scamdemic began, a number of brave independent researchers and doctors are questioning these ideas, which reinforce the current Medical Industry’s business model of petrochemical pills and vaccines.
“We implemented a system simulation and architecture of nanorobots for sensing the bloodstream, targeting biochemical changes against pathological signals. Actual advances in wireless technologies, nanoelectronics devices, and their use in the implementation of nanorobots applied to epidemic control, illustrate what upcoming technologies can enable in terms of real time health monitoring. The approach for in vivo monitoring chemical concentrations should also apply to other.”
As Wayne says, this stuff is next level contact tracing. Forget an app on your phone; the plan is for in vivo (taking place in a living organism) surveillance. There are many significant quotes from the paper, but here is one last one:
“Frequencies ranging from 1 to 20MHz can be successfully used for biomedical applications without any damage.”
Is the implication that there could be damage if frequencies are higher than 20MHz, such as in the 30-100 GHz range of 5G?
2017 Study Shows Nanotech Contaminants Already Widely Present in Vaccines
The nanotech invasion is already here. It’s not a question of “will they place nanotech in vaccines” since they already have. This 2017 Italian study entitled New Quality-Control Investigations on Vaccines: Micro- and Nanocontamination details an astonishing array of nanocontaminants in vaccines, including particles made of lead, cadmium, cerium, iron, titanium, nickel, zirconium, hafnium, strontium, tungsten, gold, silver, platinum, antimony, bismuth and aluminum. The study (which analyzes 44 types of 15 traditional vaccines) states that these contaminants are “non biodegradable and non biocompatible”, that their inclusion is “not declared” and that their presence is “inexplicable.” It gives the benefit of the doubt to Big Pharma and its controllers when it concludes that “our hypothesis is that this contamination is unintentional, since it is probably due to polluted components or procedures of industrial processes (e.g. filtrations) used to produce vaccines, not investigated and not detected by the Producers. If our hypothesis is actually the case, a close inspection of the working places and the full knowledge of the whole procedure of vaccine preparation would probably allow to eliminate the problem.” Knowing the background of the human microchipping and nanotech agenda, I would suggest there is another way to see things.
The study reveals how these nanoparticles can interact with the body in negative ways and cause harmful effects:
“… investigations revealed that some particles are embedded in a biological substrate, probably proteins, endo-toxins and residues of bacteria. As soon as a particle comes in contact with proteic fluids, a nano-bio-interaction occurs and a “protein corona” is formed. The nano-bio-interaction generates a bigger-sized compound that is not biodegradable and can induce adverse effects, since it is not recognized as self by the body. Figure 5a-5f show examples of these nano-bio-interactions. Aggregates can be seen (stable composite entities) containing particles of Lead in Meningitec, of stainless steel (Iron, Chromium and Nickel) and of Copper, Zinc and Lead in Cervarix.” “After being injected, those microparticles, nanoparticles and aggregates can stay around the injection site forming swellings and granulomas … But they can also be carried by the blood circulation, escaping any attempt to guess what will be their final destination … As happens with all foreign bodies, particularly that small, they induce an inflammatory reaction that is chronic because most of those particles cannot be degraded. Furthermore, the protein-corona effect … due to a nano-bio-interaction … can produce organic/inorganic composite particles capable of stimulating the immune system in an undesirable way … It is impossible not to add that particles the size often observed in vaccines can enter cell nuclei and interact with the DNA … “ “In some cases, e.g. as occurs with Iron and some Iron alloys, they can corrode and the corrosion products exert a toxicity affecting the tissues … “
So here is the question to ponder: are these so-called accidental and dangerous nanocontaminants just particles that deleteriously affect human health in numerous ways, or are they also nanosensors that can receive and transmit data to the Smart Grid?
Nanotechnology is at the Forefront of Cutting-Edge Vaccine Research
The nanotech agenda is closely connected to vaccines. For example, this 2019 study Nanoparticle-Based Vaccines Against Respiratory Viruses touts the advantages of nanotech vaccines:
“Conventional vaccines based on live-attenuated pathogens present a risk of reversion to pathogenic virulence while inactivated pathogen vaccines often lead to a weak immune response. Subunit vaccines were developed to overcome these issues. However, these vaccines may suffer from a limited immunogenicity and, in most cases, the protection induced is only partial. A new generation of vaccines based on nanoparticles has shown great potential to address most of the limitations of conventional and subunit vaccines. This is due to recent advances in chemical and biological engineering, which allow the design of nanoparticles with a precise control over the size, shape, functionality and surface properties, leading to enhanced antigen presentation and strong immunogenicity.”
This July 2020 study COVID-19 vaccine development and a potential nanomaterial path forward explains how there are many nanotech platforms that will be included in future vaccines:
“Nanotechnology-based approaches offer enabling solutions to the delivery challenge by trafficking the vaccine to appropriate cellular populations and subcellular locations … Moderna’s mRNA vaccine is based on a lipid nanoparticle platform, but there are many other emerging nanotechnologies for delivery of nucleic acid vaccines … Nanotechnology platforms including cationic nanoemulsions, liposomes, dendrimers or polysaccharide particles have been employed for improving the stability and delivery of mRNA based vaccines.”
The coming Moderna COVID vaccine funded by NWO frontman and eugenicist Bill Gates is a new type of technology: an mRNA vaccine that uses nanotechnology. This goes for other COVID vaccines that are being developed. The COVID plandemic is being used as a pretext to rush forward even faster with nanotech vaccines, which ultimately accelerates the central NWO (New World Order) scheme: the human microchipping agenda. The nanotech agenda via COVID is on full display:
“Nanomaterials play an important role in all aspects of vaccine design, delivery and administration. Nanoparticles enable multivalent antigen presentation and stabilization of antigens upon administration, they can serve as adjuvants to boost the immune response, and they can act as carriers for the targeted delivery of antigens. Indeed, an mRNA vaccine delivered by a liposomal nanoparticle is amongst the candidates currently in clinical trials against SARS-CoV-2. While it remains a fact that no mRNA or DNA vaccine is currently approved for any disease, the delivery of nucleic acids requires some form of modification or a nanodevice to prevent degradation in the body, and liposomal devices have indeed already been approved for RNA delivery, albeit not yet for vaccines.”
Final Thoughts on the Accelerating Nanotech Agenda
This is it! It’s game on! All the things that many alternative researchers have been writing, talking and warning about for years are arriving. Operation Coronavirus is the gateway to bring in the New World Order. COVID has been the excuse offered by tyrants for just about every draconian restriction under the sun. Now, with the coming COVID vaccine, we know it will include some kind of nanotechnology, since as I have outlined above, there are a plethora of nanotechnology platforms being developed in addition to things like hydrogel. Various studies and the pharmaceutical companies themselves are openly stating that there will be nanotech COVID vaccines. With plans to make this vaccine widepsread, administed by the military (as admitted in both the US and the UK) and “as mandatory as possible” (according to Aussie PM Scott Morrison), time is running out for people to wake up to the nanotech agenda – before it’s too late.
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Makia Freeman is the editor of alternative media / independent news site The Freedom Articles, author of the book Cancer: The Lies, the Truth and the Solutions and senior researcher at ToolsForFreedom.com. Makia is on Steemit and Parler.
Sources:
*https://thefreedomarticles.com/hydrogel-biosensor-darpa-gates-implantable-nanotech-covid-vaccine/
*https://thefreedomarticles.com/9-simulations-drills-laws-prepared-for-the-coronavirus/
*https://www.mdpi.com/1424-8220/8/5/2932/htm
*https://www.youtube.com/watch?v=fvzUtK3di0c
*https://thefreedomarticles.com/deep-down-virus-rabbit-hole-question-everything/
*https://thefreedomarticles.com/western-medicine-rockefeller-medicine/
*https://medcraveonline.com/IJVV/new-quality-control-investigations-on-vaccines-micro–and-nanocontamination.html
*https://www.frontiersin.org/articles/10.3389/fimmu.2019.00022/full
*https://www.nature.com/articles/s41565-020-0737-y
*https://thefreedomarticles.com/bill-gates-vaccines-reduce-population-growth/
*https://www.nature.com/articles/s41565-020-0757-7
*https://www.cnbc.com/2020/08/19/vaccine-should-be-as-mandatory-as-possible-australian-pm-says.html
*https://blog.nomorefakenews.com/2020/10/07/what-could-they-put-in-the-covid-vaccine/
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