Marty Bent: “This Is Surreal” (The Daily Bent Newsletter #1172)

One of the voices worth following. A true bitcoiner. Enjoy and be well, Everyone.

Click HERE for more Marty Bent posts

Follow TinyCryptoBlog – Website | YouTube | BitChute | Twitter | Minds | Anchor.FM | Facebook | Medium

Follow Marty Bent – Website | Twitter | Tales from the Crypt Podcast Twitter |

This is Surreal

Well this is something I wasn’t expecting. Federal Reserve Chairman Jerome Powell spoke the “unspeakable” while on Capitol Hill today; highlighting the fact that it is possible for people to adopt a currency other than the US dollar as a reserve currency. He explained that the process would “happen slowly over time” but it is a possibility and there could actually be more than one reserve currency.

Powell’s comments were an attempt to downplay the growing realization that the weaponization of the US dollar via sanctions is pushing other countries to seek alternatives. He’d like the world to believe that this isn’t really a big deal. Nothing to worry about. However, history will look back on this comment as one of the most significant comments to ever be uttered by a Federal Reserve chairman. You see freaks, the dollar system is a pure confidence game at this point. The dollar is propped up by nothing more than future promises of production that attempts to outpace the interest rate of the debt that’s been accrued. Many will tell you that the dollar’s strength comes from the military mite of the US or its economic power, but it is truly rooted in faith. Faith that others will believe that the mite of the US and/or its economy is enough to ensure the dollar is the reserve currency of the world.

The reserve currency status is really propped up by posturing from the banking and political class. Posturing that reassures everyone that everything is under control and there is nothing to worry about. To date, there has never been any questioning of the dollar’s status as the apex fiat money of the world. Doing so would reduce confidence and open up the floodgates for a cascade of questions.

Well, this morning Jerome Powell, for some reason or another, opened the floodgates. He has allowed doubt of the dollar’s dominance to enter the equation. Of course there have been many individuals who have been calling out the absurdity of the dollar system for some time, myself included, but this doubt has been confined to the dark corners of the internet and sound money circles. Having a fed chairman acknowledge the potential for something to compete with the dollar for reserve status, let alone supplant it, is a major inflection point.

Powell is probably making these statements to front run the inevitable roll out of a parallel monetary and financial system in the East that is being expedited by sanctions on Russia and questions that will inevitably arise from that. However, this attempt to front run a narrative serves a glitch in the confidence game that causes people to question and explore alternatives.

As I tweeted on Sunday, this week will be pinpointed in history as the final nail in the coffin of the USD as the reserve currency of the world. Decades of printing and weaponization via sanctions has finally forced the world’s hand. A vacuum has been ripped open. There is blood in the water and sharks are en route to begin circling the wounded confidence game. The competitors are going to get more aggressive from here on out.

It’s important to highlight that Chairman Powell saying that competition of reserve currencies is possible is wrong. Yes, during transitionary periods there will be competition between aspiring reserve currency replacements, but that competition is temporary. A world with multiple reserve currencies is an unorganized and unstable world. The market will coalesce on a singular reserve currency. The currency that will inevitably win out will win out because it has the properties of a good money that the market needs and recognizes. 

We have officially entered the transitionary period from a USD reserve system to a bitcoin standard in earnest. Buckle up, freaks. 

Buy store gift cards, earn bitcoin. Use the debit card, earn bitcoin. Get .00005 bitcoin when you sign up

The app that let’s you buy/sell/trade cryptos, earn yields on crypto deposits and take out a crypto-backed loans

Get $10 when you sign up with Strike. Send cash instantly around the world at no cost, and buy bitcoin with only a 1.5% fee


If you’re new to crypto, Coinbase is the easiest way to get started



Changelly is a good option for exchanging coins without having to use an exchange

lolli logo

Earn bitcoin while you shop online using Lolli

teepublic logo

Get crypto-themed shirts, stickers, mugs and more at Teepublic


Download the Brave browser and block unwanted ads and earn rewards whileen you browse online 

Exodus-Logo side

Download the Exodus wallet for you PC and smartphone


Download the Coinami wallet for your PC and smartphone

Categories: bitcoin, Commentary and Opinions, Marty Bent, Pomp, Robert Breedlove

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: