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ECON Holy Cow! Fed REPO operations sharply accelerating
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  1. #161
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    And pray tell, what illumination is offered by your own experience with the accumulated knowledge of feminism? Could it be that a negative experience is involved, and indicated here?
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  2. #162
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    Quote Originally Posted by Dozdoats View Post
    And pray tell, what illumination is offered by your own experience with the accumulated knowledge of feminism? Could it be that a negative experience is involved, and indicated here?
    I got one.
    http://www.youtube.com/watch?v=-_ymZbwy9TY

    LOL>

  3. #163
    Quote Originally Posted by Dozdoats View Post
    And pray tell, what illumination is offered by your own experience with the accumulated knowledge of feminism? Could it be that a negative experience is involved, and indicated here?
    Please, give us half a dozen examples of the accumulated knowledge of feminism, so we have something concrete to discuss. Heck, give us three. I have no doubt there are many you could choose from.
    Better to be a warrior in a garden than a gardener in a war.

  4. #164
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    Bloomberg Dalio interview this morning.

    We are headed into a New World Order.

    http://www.bloomberg.com/news/videos...ld-order-video

  5. #165
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    This is new! Look at the first one. Just another $70 billion today but look at the second one. Pay attention to the term of operation line. Instead of overnight emergency lending or even 14 day emergency lending this one is for 42 calendar days! They wanted $50 billion worth and the Fed only agreed to $25 billion dollars so it was over subscribed and they only got half of what they wanted. This goes into next year already. No matter how much liquidity they are injecting into the system it's not enough.

    This is starting on a parabolic trajectory now.
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  6. #166
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    That was announced a while back.
    Fed Plans Longer Repo Actions to Mitigate Year-End Market Risks
    The Federal Reserve Bank of New York announced plans to conduct repurchase-agreement operations within the coming month that have longer terms than those it has done previously.

    It will now conduct two operations each with terms of 42 days, the New York Fed said on its website. One of these will have a maximum size of at least $25 billion and the other $15 billion. The bank is also planning a $15 billion 28-day operation as well as a series of actions with terms of 13, 14 and 15 days, tenors it has used previously.

    The new longer operations “are intended to help offset the reserve effects of sharp increases in non-reserve liabilities later this year and ensure that the supply of reserves remains ample during the period through year end,” the New York Fed said in a statement. “They are also intended to mitigate the risk of money market pressures that could adversely affect policy implementation.”

    The schedule released by the Fed includes term operations to take place between Nov. 19 and Dec. 12. The decision to implement some operations with longer terms will allow some funding to carry past the turn of the year, which some have cited as a potential crunch point for funding markets.

    “The longer dated maturities will offer an early glimpse of year-end cash demand,” BMO strategists Jon Hill, Ben Jeffery and Ian Lyngen wrote in a note to clients.

    Related Story: Powell Faces Doubt That Fed Really Has Repo Market Under Control

    The central bank has been injecting liquidity into the funding markets since Sept. 17, when the rate on overnight general collateral repo jumped to 10% from around 2%. The Fed also started buying Treasury bills last month to add reserves into the system.

    The size of daily overnight operations will be maintained at $120 billion.

    The Fed also released on Thursday schedules for its planned monthly secondary Treasury reinvestment and reserve management purchases. The central bank plans to buy $60 billion of T-bills for its reserve management program from Nov. 15 to Dec. 6. This is in line with what it has already been doing. The Fed also plans to buy about $20 billion of Treasuries weighted across different maturities as part of its reinvestment operations.
    https://www.bloomberg.com/news/artic...-past-year-end

    And I see another 13.5 billion in mortgage-backed securities. I wonder what the 'real' value is on those.

  7. #167
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    Fed Plans Longer Repo Actions to Mitigate Year-End Market Risks

    Thanks...I missed that. Pretty startling though it you ask me but not unexpected. I don't care what kind of rosy language they are using but they haven't had to do this before at least not to this extent so why now? Rhetorical question of course. Lot's of corks wanting to shoot through the surface of the water they are trying to hold down while the water is getting deeper and deeper.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  8. #168
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    Personally I believe at least some of the mortgage-backed securities are likely valued way more than they are worth. I think the banks are using them for collateral and then letting the Fed just keep them. Probably with a wink-and-nod from the Fed. But that is just my opinion and based on no real facts other than this odd repo deal.
    I wonder every day just how long this is going to hold together.

  9. #169
    Quote Originally Posted by hiwall View Post
    Personally I believe at least some of the mortgage-backed securities are likely valued way more than they are worth.
    Hah! Ya think?
    Better to be a warrior in a garden than a gardener in a war.

  10. #170
    I'm certainly no financial guru, but if I'm reading all this right, this whole repo thing is feeding huge money only into financial institutions that are connected to wall street and the stock markets? This money is supposedly NOT going to banks that do commercial banking?
    If that is correct, is this repo money only supporting the stock market and not joe 6 pack's banks?

    This would make me think that someone in charge want's to keep the stock market boom going, until some point where they will let it crash.
    I'm hoping that it is part of Trumps plan and that he will be able to cushion the crash when it is eventually allowed to happen.

  11. #171
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    Quote Originally Posted by CELLO View Post
    I'm certainly no financial guru, but if I'm reading all this right, this whole repo thing is feeding huge money only into financial institutions that are connected to wall street and the stock markets? This money is supposedly NOT going to banks that do commercial banking?
    If that is correct, is this repo money only supporting the stock market and not joe 6 pack's banks?

    This would make me think that someone in charge want's to keep the stock market boom going, until some point where they will let it crash.
    I'm hoping that it is part of Trumps plan and that he will be able to cushion the crash when it is eventually allowed to happen.
    We don't really know how much money is being kept by the banks (it is mostly just one-day loans). We also have no idea just who is getting the loans because it is a secret and this time I have heard of no leaks. Banks are fairly good at keeping secrets.

  12. #172
    Quote Originally Posted by CELLO View Post
    I'm certainly no financial guru, but if I'm reading all this right, this whole repo thing is feeding huge money only into financial institutions that are connected to wall street and the stock markets? This money is supposedly NOT going to banks that do commercial banking?
    If that is correct, is this repo money only supporting the stock market and not joe 6 pack's banks?

    This would make me think that someone in charge want's to keep the stock market boom going, until some point where they will let it crash.
    I'm hoping that it is part of Trumps plan and that he will be able to cushion the crash when it is eventually allowed to happen.


    The FED is a PRIVATE bank and is not part of the US Government. They create money from NOTHING and dole it out - at ridiculously low interest rates - to their favored institutions. From those institutions, it is supposedly going to trickle down to we "little people." The other obscene aspect of this arrangement is that this can and is done in absolute secrecy with no (public) accountability to any branch of the US Government. Not enough? They are immune to audits or any other form of public accounting. This is not "capitalism" in any way, shape or form. It's nothing more than a racket, though if you wish to be kind you might call it "crony capitalism." Lastly, you and I, the mere taxpayers, are ultimately on the hook for their shenanigans. Nice work if you can get it, eh?

    Best
    Doc

  13. #173
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    Quote Originally Posted by CELLO View Post
    I'm certainly no financial guru, but if I'm reading all this right, this whole repo thing is feeding huge money only into financial institutions that are connected to wall street and the stock markets? This money is supposedly NOT going to banks that do commercial banking?
    If that is correct, is this repo money only supporting the stock market and not joe 6 pack's banks?

    This would make me think that someone in charge want's to keep the stock market boom going, until some point where they will let it crash.
    I'm hoping that it is part of Trumps plan and that he will be able to cushion the crash when it is eventually allowed to happen.
    Joe six pack is heavily invested. JUSt a look at a part of Old Joe. http://www.milkenreview.org/articles...urn?IssueID=34

  14. #174
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    Another 25 billion in just mortgage-backed securities today.

  15. #175
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    The pigs are certainly still at the trough quaffing it all down but it's never enough. Another $93 billion dollars and change today between overnight and 14 day repo's. I anticipate that once the calendar turns to December even these numbers will be left in the dust.
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  16. #176
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    No worries, it's just digits. The supply is endless.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  17. #177
    Quote Originally Posted by Hi-D View Post
    Joe six pack is heavily invested. JUSt a look at a part of Old Joe. http://www.milkenreview.org/articles...urn?IssueID=34
    Ah yes, I see that now. Thanks.

  18. #178
    Powell Talks Up Economy, Recommits to Creating More Inflation

    By Headline Wealth - November 26, 2019

    (Associated Press) Federal Reserve Chairman Jerome Powell on Monday sketched an optimistic view of the economy but signaled that continued low inflation means higher interest rates won’t likely be necessary anytime soon.

    Powell said that even with unemployment near a 50-year low of 3.6%, there’s still “plenty of room” for wages to rise and for more Americans to join the workforce. He noted that annual inflation remains below the Fed’s 2% target level.

    The Fed chairman made his remarks in a speech to the Greater Providence (Rhode Island) Chamber of Commerce.

    The central bank has cut its benchmark short-term rate three times this year to a range of just 1.5% to 1.75%. Powell signaled last month that the Fed will now likely remain on hold unless the economy noticeably worsens.

    Powell said the three rate cuts have helped spur more home purchases, which have contributed to the economy’s ongoing expansion, now in its 11th year, the longest on record.

    That long-running growth is benefiting many less-advantaged workers who had mostly seen meager hiring and wage gains in the first half of the recovery, Powell said. Continuing to spread such opportunities is a key reason to sustain growth, he added.

    “Recent years’ data paint a hopeful picture of more people in their prime years in the workforce and wages rising for low- and middle-income workers,” Powell said. “But … this is just a start: There is still plenty of room for building on these gains. The Fed can play a role in this effort.”

    Powell’s buoyant outlook followed a visit earlier Monday to a workforce development program in East Hartford, Connecticut, where he heard from residents who had completed training programs and gotten higher-paying jobs.

    Still, the Fed Chair highlighted a challenge for the central bank: Inflation has been stuck below the Fed’s 2% target for most of the past seven years. While most people prefer limited price increases, the Fed worries that persistently low inflation can become ingrained and force the Fed to keep interest rates low permanently, limiting its ability to combat future downturns.

    “That is why it is essential that we at the Fed use our tools to make sure that we do not permit an unhealthy downward drift in inflation expectations and inflation,” Powell said.


    Powell also acknowledged that what the Fed calls the “neutral” interest rate, which neither stimulates nor inhibits growth, has fallen for the past seven years.

    That “provided another reason why a somewhat lower setting of our policy interest rate might be appropriate,” Powell said.

    Rhode Island’s Gov. Gina Raimondo, head of the Democratic governors’ association, told Powell at the Chamber of Commerce dinner, “I think you’re doing an extraordinary job,” especially under difficult circumstances.

    “Of course, everybody has an opinion about what you should be doing,” she said, a reference to President Donald Trump’s repeated attacks on Powell.

    http://headlinewealth.com/powell-tal...ore-inflation/

    ----------------------------------------------------------------------------------------------------------------------

    Actually, I have to add: there HAS been inflation, for many goods and services- groceries, and vehicles, especially. Things have gone up in price...they wanted more and didn't get it???
    Last edited by TammyinWI; 11-26-2019 at 06:52 PM.
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  19. #179
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    DEflation has always been the Fed's big bugbear. Inflation keeps the "money" supply growing and the Ponzi scheme going but deflation would bust the big bubble. Remember this speech? You should... it prefaced a lot of things, including Big Ben becoming chair of the Fed.

    https://www.federalreserve.gov/board...2002/20021121/
    Remarks by Governor Ben S. Bernanke
    Before the National Economists Club, Washington, D.C.
    November 21, 2002
    Deflation: Making Sure "It" Doesn't Happen Here
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  20. #180
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    Another 34 billion in just mortgage-backed securities today. It is getting worse.

  21. #181
    New York Fed Adds $108.95 Billion to Markets

    Wednesday, November 27, 2019, 9:27 AM ET
    By Dave Sebastian
    Wall Street Journal

    The Federal Reserve Bank of New York added $108.95 billion in temporary liquidity to the financial system on Wednesday.

    The intervention came in two parts. There were $87.95 billion in overnight repurchase agreements, or repos, and $21 billion in 15-day repos. The central bank took all the securities it was offered.

    Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the securities.

    The Fed has been intervening in markets in the current fashion since mid-September , when short-term rates unexpectedly shot up on a confluence of factors, although it has used similar operations for decades to manage short-term rates.

    The Fed's interventions are aimed at ensuring that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved, with the central bank's federal-funds rate staying within the 1.5%-to-1.75% target range. The effective fed-funds rate stood at 1.55% on Tuesday. The broad general collateral rate for repo trading stood at 1.51%, also for Tuesday.

    Since the large interventions started, money-market rates have been well-behaved. The Fed is using temporary operations to tamp down on any possible volatility, while purchasing Treasury bills to build up reserves in the banking system. It hopes that by buying Treasury bills it will be able to cut back on repo interventions at the start of next year.

    The Fed currently expects to buy Treasury bills through the middle of next year.

    https://www.wsj.com/articles/new-yor...ts-11574864855

  22. #182
    Quote Originally Posted by Dozdoats View Post
    DEflation has always been the Fed's big bugbear. Inflation keeps the "money" supply growing and the Ponzi scheme going but deflation would bust the big bubble. Remember this speech? You should... it prefaced a lot of things, including Big Ben becoming chair of the Fed.

    https://www.federalreserve.gov/board...2002/20021121/
    Remarks by Governor Ben S. Bernanke
    Before the National Economists Club, Washington, D.C.
    November 21, 2002
    Deflation: Making Sure "It" Doesn't Happen Here
    Aah, "Helicopter" Ben, who could forget........


    Southside

  23. #183
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    Ben may be gone, but the idea of helicopter money lives on! And the Fed is busy proving it.


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    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  24. #184
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    The Fed currently expects to buy Treasury bills through the middle of next year.
    But they never mentioned all the mortgage-backed securities which today were about 1/3 of the loans.

  25. #185
    Quote Originally Posted by Dozdoats View Post
    DEflation has always been the Fed's big bugbear. Inflation keeps the "money" supply growing and the Ponzi scheme going but deflation would bust the big bubble. Remember this speech? You should... it prefaced a lot of things, including Big Ben becoming chair of the Fed.

    https://www.federalreserve.gov/board...2002/20021121/
    Remarks by Governor Ben S. Bernanke
    Before the National Economists Club, Washington, D.C.
    November 21, 2002
    Deflation: Making Sure "It" Doesn't Happen Here
    Deflation occurs naturally in the wild.
    Inflation on the other hand does not occur naturally. It requires the effort of man.
    Inflationary bubbles are created.
    They have always known that deflation was a problem. They knew about it when they concocted the ponzi scheme.
    They did it anyway.
    Consider the ravens, for they neither sow nor reap, which have neither storehouse nor barn; and God feeds them. Of how much more value are you than a pesky raven?
    It is difficult to stand idly by and watch the vacuum of ignorance being filled with lies

  26. #186
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    There are several different inflation calculators available on the web. Interestingly enough, almost all of them begin available calculations in 1913.

    What happened in 1913? The Fed.

    There is one however that goes back to 1800. Westegg. https://westegg.com/inflation/

    Go to the site and play with it a bit. Note especially results before 1913. Can you imagine your money buying MORE over time, not less??
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  27. #187
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    And yet and yet, the Fed’s inflation target is 2% a year. We know it’s far above that but at a nominal 2% that is a 20% loss of purchasing power every 10 years and the Fed has been around over 100 years now. Just about all purchasing power has been wrung out of the dollar now. Reset is coming but will it be orderly or disorderly? Everyone is in denial including the Fed so my bet is disorderly.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
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  28. #188
    Quote Originally Posted by Hfcomms View Post
    Just about all purchasing power has been wrung out of the dollar now.
    Compared to 1913, yes, but we could go on for another hundred years. There's no magical point at which the dollar is worth nothing, it just is worth a bit less every year. A hundred years from now five dollars buys a pack of gum, and the smallest denomination might be the dollar.
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  29. #189
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    Quote Originally Posted by Hfcomms View Post
    And yet and yet, the Fed’s inflation target is 2% a year. We know it’s far above that but at a nominal 2% that is a 20% loss of purchasing power every 10 years and the Fed has been around over 100 years now. Just about all purchasing power has been wrung out of the dollar now. Reset is coming but will it be orderly or disorderly? Everyone is in denial including the Fed so my bet is disorderly.
    This is a very valid and wise post. I would suggest everyone read it a couple of times.

    Hfcomms, and anyone else who wants to chime in....what do you feel the "reset" is going to be like? Some people say mass riots and a breakup of the USA and even possibly people going hungry.
    "I would gladly give my life for a man who is searching for the truth........and I would gladly kill a man who thinks he has found it."

  30. #190
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    "Disorderly" is a very good word...

    The gummitup will strive desperately to maintain the appearance of control. This may be where electronically distributed helicopter 'money' will appear, or something like it. They will look for bandaids to put on bullet wounds as long as they can, and seek more desperate solutions as more desperate circumstances arise. How long will it last? I don't know. It cannot be fixed short of repudiating debt and hitting the big reset button. I anticipate attempts to maintain order to include wage and price controls eventually leading to an attempt to impose martial law. None of it will work because none of it addresses the fundamental problem - NO REAL MONEY.

    Stock up on nonperishable food, secure a source of safe water, lay in basic health maintenance supplies and prepare to defend yourself against all comers. In other words - PREP UP. Useful stuff is better than money in the short to medium term IMO. Long term money is what used to be money in the ZUSA, what the Founding Fathers specified was to be US money - gold and silver. But it will be a while before TPTB get back around to admitting that.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  31. #191
    it will be very orderly. it will be like musical chairs.
    when the music stops those who can grab a chair will be ok.
    those who don't . . . they may feel it is disorderly
    The fed decides when the music stops and who will have chairs. very orderly
    and the Fed has already decided that you and I never had chairs in the game from the beginning.
    Consider the ravens, for they neither sow nor reap, which have neither storehouse nor barn; and God feeds them. Of how much more value are you than a pesky raven?
    It is difficult to stand idly by and watch the vacuum of ignorance being filled with lies

  32. #192
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    Quote Originally Posted by bw View Post
    Compared to 1913, yes, but we could go on for another hundred years.
    17 trillion dollars of bonds with negative yields would argue with you. We are hitting the wall now with having to borrow the money even to make our interest payments even at these low rates and we’re still adding a trillion a year in new debt. The ruckus in the repo markets would also argue against the perpetual endurance of this present system. The only thing holding this together is confidence in the system. When that confidence is gone the con is over.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  33. #193
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    There's no magical point at which the dollar is worth nothing

    Got news for you.

    It is worth nothing NOW. But the Fed con game Ponzi scheme is still rolling for the time being. Round and round it goes and where it stops nobody knows, unless there is a brake pedal on the roulette wheel.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  34. #194
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    Quote Originally Posted by Truthsearch View Post

    Hfcomms, and anyone else who wants to chime in....what do you feel the "reset" is going to be like?
    I don’t have a clue and that is the God honest truth. This is a global phenomenon now with every fiat currency including the global reserve currency in distress. While Americans are busy with bread and circuses they don’t see the civil unrest spreading in every continent including this one. Our society is on the ragged edge is this supposedly fantastic economy. What is going to happen when reality comes knocking? Hope and pray for the best and prepare for the worst.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  35. #195
    Quote Originally Posted by Hfcomms View Post
    I don’t have a clue and that is the God honest truth. This is a global phenomenon now with every fiat currency including the global reserve currency in distress. While Americans are busy with bread and circuses they don’t see the civil unrest spreading in every continent including this one. Our society is on the ragged edge is this supposedly fantastic economy. What is going to happen when reality comes knocking? Hope and pray for the best and prepare for the worst.
    That is one of the tings i find very curious - we have a supposedly fantastic economy vs. the Fed is conducting nightly repos like we are in the middle of a great recession.
    A great economy in the midst of a great recession.
    imagine that, the future is so bright . . .
    Consider the ravens, for they neither sow nor reap, which have neither storehouse nor barn; and God feeds them. Of how much more value are you than a pesky raven?
    It is difficult to stand idly by and watch the vacuum of ignorance being filled with lies

  36. #196
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    You're gonna need shades.
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    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  37. #197
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    While I think the Fed should not exist, they seem to be doing their job of keeping the population calm and upbeat, while likely hiding the ugly truth of how bad things really are by pumping in all that 'new' money. Once the Fed starts to lose control or the general population starts to see the big cracks in our economy then things might go downhill pretty fast. Today most of the US population (and world population) have complete trust in the Dollar. When that trust wavers then bad things will happen.

  38. #198
    Quote Originally Posted by Hfcomms View Post
    17 trillion dollars of bonds with negative yields would argue with you. We are hitting the wall now with having to borrow the money even to make our interest payments even at these low rates and we’re still adding a trillion a year in new debt.
    Agreed, we're in big trouble. But the trouble is confidence, not how many dollars it takes to buy a cup of coffee. If it takes $3 today, the system isn't going to inevitably break when it takes $5. The dollar can continue to degrade in value indefinitely. The problem is not the value of the dollar, but the robustness of the system. The value of the dollar is a symptom, not the disease.

    Quote Originally Posted by Dozdoats View Post
    Got news for you. It is worth nothing NOW.
    Wrong. It's worth less every year, but it's worth something. People use it for trade, and not by the barrow-load. If you disagree, feel free to send me all your dollars. I'll pay the postage.
    Better to be a warrior in a garden than a gardener in a war.

  39. #199
    Quote Originally Posted by hiwall View Post
    While I think the Fed should not exist, they seem to be doing their job of keeping the population calm and upbeat, while likely hiding the ugly truth of how bad things really are by pumping in all that 'new' money. Once the Fed starts to lose control or the general population starts to see the big cracks in our economy then things might go downhill pretty fast. Today most of the US population (and world population) have complete trust in the Dollar. When that trust wavers then bad things will happen.
    I SUSPECT that Team Trump has a 'Plan B' and a 'Plan C' in place, should the Fed literally fail, "one day." While the transition from a failing Fed to one of the other "plans" will almost certainly be bumpy, I don't expect it to be entrenched and protracted in such a way that mass starvation and mayhem erupts inside of CONUS, per se - perhaps pockets of problems, but **mostly** an "acceptable" transfer to **something** new that will mostly work - may be multiple steps of action along a time continuum that stretches out over 5-10 years, as the old Fed system is sidelined, and a new economic system is installed.

    Could be a very bumpy ride for some, to be sure.


    intothegoodnight
    "Do not go gentle into that good night.
    Rage, rage against the dying of the light."

    ó Dylan Thomas, "Do Not Go Gentle Into That Good Night"

  40. #200
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    70,951
    feel free to send me all your dollars

    Thank you kindly, but as long as the scam is running I have no choice but to play along to some degree. My retirement checks are on direct deposit, and as long as everyone I pay bills to expects to see FRN$ I will oblige them. And most others have no choice but to do the same. Isn't it interesting how it came to be structured that way over the years? Almost like they knew this was coming.

    Doesn't mean I have to be blinded by the lies however.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

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