Trump renews call for negative U.S. interest rates

[Natural Citizen]

I donlt think its necessary to retitle the thread. Trump will be popping off about the wonders of neg rates again soon enough. His role in it all is as transparent as Biden's. As was said, they're just passing the baton back and forth while someone else guides their strings.

 

[sparky]

I'm reading the 'powers that be' want to censor fiscal crisis, for fear of a bank run,,,,~S~

 

[MisterBeale]

I donlt think its necessary to retitle the thread. Trump will be popping off about the wonders of neg rates again soon enough. His role in it all is as transparent as Biden's. As was said, they're just passing the baton back and forth while someone else guides their strings.

Agreed.

Though, it really bothers me, that folks Trump puts in positions of power, seem to be, disconnected from the, "idea," of Trump the politician in most of his supporters eyes.

It really won't matter to most.

The Mnuchin Files: New Documents Shed Light on Trump-Era Crypto Policy

Jared Kushner advocated behind the scenes for a U.S. digital currency, among other revelations in a 250-page trove from Steven Mnuchin’s tenure at Treasury.

www.coindesk.com

 

[sparky]

Agreed.

Though, it really bothers me, that folks Trump puts in positions of power, seem to be, disconnected from the, "idea," of Trump the politician in most of his supporters eyes.

It really won't matter to most.

The Mnuchin Files: New Documents Shed Light on Trump-Era Crypto Policy

Jared Kushner advocated behind the scenes for a U.S. digital currency, among other revelations in a 250-page trove from Steven Mnuchin’s tenure at Treasury.

www.coindesk.com

This digital yuan Mr B.....is this now some sort of global competition ??~S~

 

[BackAgain]

I don’t really grok this negative interest rate thing.

But our national budget should always be required to pay down the interest and a portion of the principal as a very first order of business. Then we will budget our other items with what’s left over and no more borrowing.

Our deficit is a massive and dangerous disaster ready to happen. We know it. But we don’t do shot about it (except foolishly and immorally add to it).

 

[Toddsterpatriot]

I don’t really grok this negative interest rate thing.

But our national budget should always be required to pay down the interest and a portion of the principal as a very first order of business. Then we will budget our other items with what’s left over and no more borrowing.

Our deficit is a massive and dangerous disaster ready to happen. We know it. But we don’t do shot about it (except foolishly and immorally add to it).

Now, when the Fed wants to stimulate the economy, they lower interest rates to encourage borrowing. If you lower rates and people don't borrow enough, the Fed will start charging banks to hold their reserves, instead of paying the banks. Money will be like a hot potato. Lend it out before the Fed charges you.

It's a bad idea. It will create even more distortions than very low or 0% rates.

 

[MisterBeale]

I don’t really grok this negative interest rate thing.

But our national budget should always be required to pay down the interest and a portion of the principal as a very first order of business. Then we will budget our other items with what’s left over and no more borrowing.

Our deficit is a massive and dangerous disaster ready to happen. We know it. But we don’t do shot about it (except foolishly and immorally add to it).

People We Should Know: Catherine Austin Fitts

Guest post from John Rubino from his substack: These days we all have our theories about how and why the 1% have become so rabidly predatory (find my recent take here). But the most sophisticated – and scariest – analysis comes from Catherine Austin Fitts. As an Assistant Secretary of Housing

www.dollarcollapse.com

Is Our Government Intentionally Hiding $21 Trillion In Spending?

In a prior article, which went viral, I discussed $21 trillion in apparent government outlays for which our government accountants can not account. Most of these "unsupported adjustments" are in the DOD. Evidence of what may be unprecedented government malfeasance is now being censured.

www.forbes.com

 

[MisterBeale]

#CashEveryDay – Solari Report

home.solari.com

 

[Toddsterpatriot]

View attachment 765849

#CashEveryDay – Solari Report

home.solari.com

 

[MisterBeale]

 

[Toddsterpatriot]

Is that supposed to mean something?

 

[Natural Citizen]

The Tennessee House has voted 98-0 to allow state treasurer to acquire and hold gold to protect the state...

https://www.capitol.tn.gov/Bills/113/Bill/HB1479.pdf

Additionally, the Senate companion bill passed the Senate State and Local Government Committee by a vote of 8-0.

https://www.capitol.tn.gov/Bills/113/Bill/SB0519.pdf

The legislation defines ''bullion'' and ''specie'.'

It also explicitly states that ''subject to appropriation, the state treasurer may purchase and sell gold or precious metal bullion or specie that will be directly owned by the state, and in the custody of the state treasurer.”

The two bills allow the state treasurer to “make and enter into contracts, trust instruments, agreements, and other instruments with a person to effectuate this section, including, but not limited to, financial institutions, accountants, auditors, attorneys, consultants, and other contractors.”

The legislation calls for ''physical gold and precious metal purchased under these acts to be custodied by the state treasurer in a state depository, and maintained in a vault within the state depository’s banking facilities in accordance with accepted industry standards for secure storage, and within the geographical boundaries of Tennessee.”

Anyway. As was mentioned in previous pages some place, when the receipts for bullion deposits to state run bullion depositories themselves become a medium of exchange (meaning real money), the whole fiat system will come crashing down by default.

And that's why the central government has been pimping digital currency. They're not actually currencies. Digital currency is just a bunch of corporate coupons.

 

[Natural Citizen]

A couple of more states are moving to recognize bullion as legal tender and to restrict central bank digital currency...

Oklahoma House Passes Bill That Would Help Minimize the Impact of Central Bank Digital Currencies

Oklahoma HB1633 | 2023 | Regular Session

Summary (2023-04-03) Legal tender; requiring acceptance of cash as legal tender; penalties and enforcement; exempting certain transactions; effective date. [Coauthored by Senator Jett]

legiscan.com

Arkansas Bill Would Make Gold and Silver Legal Tender in the State

Arkansas HB1718 | 2023 | 94th General Assembly

Summary (2023-04-11) To Create The Arkansas Legal Tender Act; And To Reaffirm Gold And Silver Coin As Legal Tender. [Notification that HB1718 is now Act 595]

legiscan.com

The Arkansas bill is defining specie by its market value rather than its face value, btw. Meaning stamped indicating weight and purity. As has been mentioned previously, these actions clearly indicate intent to establish bullion depositories and to make use of certificates of deposit as ''money'' with the means of convertibility.

 

[MisterBeale]

A couple of more states are moving to recognize bullion as legal tender and to restrict central bank digital currency...

Oklahoma House Passes Bill That Would Help Minimize the Impact of Central Bank Digital Currencies

Oklahoma HB1633 | 2023 | Regular Session

Summary (2023-04-03) Legal tender; requiring acceptance of cash as legal tender; penalties and enforcement; exempting certain transactions; effective date. [Coauthored by Senator Jett]

legiscan.com

Arkansas Bill Would Make Gold and Silver Legal Tender in the State

Arkansas HB1718 | 2023 | 94th General Assembly

Summary (2023-04-11) To Create The Arkansas Legal Tender Act; And To Reaffirm Gold And Silver Coin As Legal Tender. [Notification that HB1718 is now Act 595]

legiscan.com

The Arkansas bill is defining specie by its market value rather than its face value, btw. Meaning stamped indicating weight and purity. As has been mentioned previously, these actions clearly indicate intent to establish bullion depositories and to make use of certificates of deposit as ''money'' with the means of convertibility.

I don't understand how any of this is constitutional, but then, I don't understand how the FED is constitutional either. . .



Article I, Section 8, Clause 5

Coinage Power | Constitution Annotated | Congress.gov | Library of Congress

An annotation about Article I, Section 8, Clause 5 of the Constitution of the United States.

constitution.congress.gov

 

[Natural Citizen]

I don't understand how any of this is constitutional, but then, I don't understand how the FED is constitutional either. . .



Article I, Section 8, Clause 5

Coinage Power | Constitution Annotated | Congress.gov | Library of Congress

An annotation about Article I, Section 8, Clause 5 of the Constitution of the United States.

constitution.congress.gov

Ultimately, Congress has the say so.

 

[Natural Citizen]

Which reminds me...

 

[Ringo]

When world capitalism, after decades of plundering the accumulated wealth of the socialist system, realized that everything had been plundered, and because of its own monstrous inefficiency it went into decline (aka "growth near zero"), they immediately introduced a Covid, then a war. I'm sure there will be more later.
Now they have to keep explaining to the host of zombified market players why the "cycles" don't work anymore, and they can't wait for the "revival" of economies. Otherwise, many will begin to guess that bourgeois economics as a science is just a voodoo dance around a campfire

 

[Toddsterpatriot]

When world capitalism, after decades of plundering the accumulated wealth of the socialist system, realized that everything had been plundered, and because of its own monstrous inefficiency it went into decline (aka "growth near zero"), they immediately introduced a Covid, then a war. I'm sure there will be more later.
Now they have to keep explaining to the host of zombified market players why the "cycles" don't work anymore, and they can't wait for the "revival" of economies. Otherwise, many will begin to guess that bourgeois economics as a science is just a voodoo dance around a campfire

When did the socialist system accumulate wealth? How?

 

[Natural Citizen]

Indiana Bans use of a Central Bank Digital Currency as Money in the State

Last week, Indiana Gov. Eric Holcomb signed a bill into law to remove a central bank digital currency (CBDC) from the definition of money in the state.

Sen. Chris Garten and a bipartisan coalition of 11 cosponsors introduced Senate Bill 468 (SB468) in January. The law makes a number of changes to Indiana’s Uniform Commercial Code (UCC) including explicitly excluding a CBDC from the definition of money in Indiana, effectively banning its use as such in the state.

The law amends the definition of money to specify, “The term does not include a central bank digital currency that is currently adopted, or that may be adopted, by the United States government, a foreign government, a foreign reserve, or a foreign sanctioned central bank.”


No mention of the convertability issue (certificates of deposit)...yet...