To re-fi, in order to keep the 3-card Monte game a-rollin'.New ones are never created?
Old ones are never destroyed?
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To re-fi, in order to keep the 3-card Monte game a-rollin'.New ones are never created?
Old ones are never destroyed?
Cannot end the Fed till we end the duopoly.
You finally willing to stop voting Repub?
Why does America borrow dollars that we print?
Because the entire concept of fiat currency is the impossible attempt to turn debt into wealth.
With currency of substance a "bill" is something that you can exchange for specie....Hence the nomenclature.
With the Fed fiat system, everybody is passing around IOUs (debt) as value, yet there's nothing of any inherent value to be "owed"...The Fed has no checking account with any kind of tangible funds on hand, just a big checkbook.....They issue the BigBanks the "check" (at interest, of course), the banks say "thank you, Lewis", and pass that debt on to you as "notes"....Also at an interest rate.
Nice work if you can get it.
"Discount" on what?The Fed has no checking account with any kind of tangible funds on hand, just a big checkbook.....They issue the BigBanks the "check" (at interest, of course),
The Fed typically lends the banks very little money.
Currently, about $7 billion from the Discount Window.
The Bank Term Funding Program, created during the 2023 banking failures lends about $125 billion.
Accurate book, that your occupation prevents you from acknowledging as true.
To re-fi, in order to keep the 3-card Monte game a-rollin'.
The Fed scam is a bunch of crap.It's a bunch of crap.
"Discount" on what?
The Fed scam is a bunch of crap.
We realize that you have to carry water for it, in order to rationalize the loot you make off it, but that changes nothing.
Borrow what?The Discount Window is where banks borrow directly from the Fed.
Except in times of stress on the banking system, it is very lightly used.
Borrow what?
What are the assets on hand?
The Fed scam is a bunch of crap.
We realize that you have to carry water for it, in order to rationalize the loot you make off it, but that changes nothing.
Uh-huh...And the treasuries have what for collateral?Banks borrow dollars, usually using US Treasury securities as collateral.
I don't deny that, and I like him....But his playing pissboi for the Fed is wearisome.I'll tell you what, though, Toddster's always been a hoot to debate monetary policy with. He's grown on me over the years. Ha.
Uh-huh...And the treasuries have what for collateral?
I don't deny that, and I like him....But his playing pissboi for the Fed is wearisome.
Borrow it from whom?...Who has the collateral being borrowed against?Not as wearisome as the idea we should print money, instead of borrowing it.
Ahhhh!...The ole "full faith and credit" ring-around-the-rosey horsehit!!Full faith and credit. Kind of like most corporate debt.
AFAIK, not a lot of corporate debt has dedicated collateral.
Uh-huh...And the treasuries have what for collateral?