💥 Powell Drops the Bomb — Is This the Beginning of the End for the U.S. Dollar?
Jack Mallers saw no need for Federal Reserve Chair Jerome Powell to acknowledge Bitcoin. The Strike CEO stated in an angry video published hours after Powell's recent address that the Fed Chair had “finally said the quiet part out loud”: that the post-World War II monetary system is disintegrating and Bitcoin is the only sensible solution.
The comments followed Powell's June 2 remarks at the Federal Reserve's 75th anniversary of its International Finance Division, in which he admitted that the 1970s constituted a fundamental monetary policy departure. Powell: “The end of the Bretton Woods era fundamentally changed the conduct of monetary policy.”
Mallers saw this as a systematic failing, not a footnote. “Before, the Fed defended the peg. Mallers explained that dollars might buy gold. “We divorced ourselves from the gold standard and mother nature's physical constraints. Since then, the world has sucked. I apologize for my language—it's a kids' show.”
Mallers perceived a tone change in Powell's words, not theory. “He admits. Exactly: our work become more complex. He’s right. Being able to produce money without limits makes your job about managing politics, leverage, volatility, and turmoil.
Mallers said the public is being prepared for huge financial upheavals. "Let me be recorded," he urged. “If Powell announces a 4% inflation target, boom. If he claims the Fed will finance the US government via yield curve control—boom. Breadcrumbs began here. More are coming.”
Mallers' film has an existential rather than tactical focus. “Wall Street hedge funds cannot replace Chinese or Russian buying power,” he remarked. “You let them lever up. However, volatility must be eliminated. You must micromanage everything. Everything breaks eventually.”
He concluded with a stern prediction: "Your monetary regime is changing. You get few in life. Bitcoin is likely to be huge in the future.”
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