Traditionally the Fed would just continue to raise interest rates, which would in turn curb borrowing and thus curb spending by govt.

There is obviously the concern that raising interest rates crashes the market, but I think that mostly a side issue. The bigger structural problem is that any rise in interest rates will induce more govt spending. The govt will borrow money to pay ever higher interest.

At this point its obvious we've crossed the Rubicon.

TLDR: Buy Bitcoin

That seems to be the indication from their recent statements. I think I posted a few months ago that the Fed has lost the game but is refusing to surrender. I used a chess analogy. I need to start bookmarking my clever posts (there are so few, shouldn't be too hard to keep a running tab).

Mr. Lacalle is always so accurate in his analyses.