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Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos ...
WolfStreet.com ^ | 20 September 2019 | Wolf Richter

Posted on 09/20/2019 11:35:56 PM PDT by Yosemitest

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To: Georgia Girl 2
You are asking the wrong questions which tells me you did not understand what Stills was saying.

I'm more interested in what you're saying.

You said the Fed issues our money with interest attached. You won't explain how much interest you are charged for your FRNs. Were you mistaken?

Dollars created at zero interest carry no debt.

None of the cash in my wallet is debt. No one has ever charged me interest on it. They don't even know how much I hold.

101 posted on 09/22/2019 1:43:25 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot

Every dollar in circulation is debt from inception. You are not personally making a monthly payment on it but you do pay through taxation.

Arguing with me about it will not make our monetary crisis disappear. It is what it is. The Federal Reserve system cannot continue to control our monetary system.

Trump’s constant tweets are his way of bringing the public along and educating them as to what the Fed really is. IMO Trump is preparing everyone for his plans to move us away from the Fed after his reelection.

The only way to pay off the FRNs is to issue US reserve notes at zero interest or negative interest.


102 posted on 09/22/2019 2:07:37 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: Georgia Girl 2
Every dollar in circulation is debt from inception. You are not personally making a monthly payment on it

Because you're wrong.

but you do pay through taxation.

How much of my taxes pay for "interest on my FRNs"? How do you know?

Arguing with me about it will not make our monetary crisis disappear.

Your confusion is no crisis.

The only way to pay off the FRNs

Pay off FRNs? That's funny.

issue US reserve notes at zero interest or negative interest.

I'd ask you what a US note at a negative interest rate means, but I'm afraid you'll hurt yourself trying to explain.

103 posted on 09/22/2019 3:49:17 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Georgia Girl 2

“Uh no every dollar that enters circulation comes with debt.”

So tell us how you go about paying the interest on this debt your money obligates you to. Are you getting billed by the Fed? Sending them a check?


104 posted on 09/22/2019 5:10:31 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: qaz123

Well that’s certainly a list of bad things, but all of them involve something that Congress is responsible for doing.

The Federal Reserve has no role in any of that. Their field is our banking system and money supply.


105 posted on 09/22/2019 5:22:47 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: Yosemitest

Lol!!

Gee, this sounds familiar, since it’s exactly what I told you that Friedman and Schwartz wrote in their “A Monetary History of the United States” and the lesson that Bernanke took from the book:

“In A Monetary History of the United States, Friedman argued that the economy was strong in the 1920s until the year 1929 when a typical economic downturn occurred.
He believed that the economic recession turned into a depression because the Federal Reserve did not print enough money between 1930 and 1933.
Friedman and Ben Bernanke essentially blame the Great Depression on the Federal Reserve’s failure to inflate the money supply.”

So you either don’t read posts, or you do and you haven’t the faintest idea what the words mean.

Apparently your problem is reading comprehension, or you would have noticed that your own citation makes exactly the same point that I had already made, and that both argue against your idea that Fed “intervention” caused the Depression when in fact their criticism is the opposite, that the Fed failed to intervene when they should have.


106 posted on 09/22/2019 5:44:04 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: Pelham
You're so full of crap that I can smell you from way down south.

The best thing we could do is abolish the Federal Reserve and go back to the Gold Standard.
Hell, even our change has no real money in it.
If you don't believe me, wave a handful of today's change at a metal detector at an airport, and see if it goes into alarm.

You don't give a damn about the debt we'll placing on our children with our National debt.
Where did you get your education, in grades one thru twelve ONLY ?
You probably believe all that communist B.S. the teachers in public school are shoving down your throat.

Why don't you go get a real education ?
107 posted on 09/22/2019 7:01:52 PM PDT by Yosemitest (It's SIMPLE ! ... Fight, ... or Die !)
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To: Yosemitest

You really are one of the dimmest posters at FR. Not kidding. You are genuinely stupid.


108 posted on 09/22/2019 7:09:48 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: Pelham
Here's something your feeble mind MIGHT be able to understand, but I doubt it. I'll even save you some time, since you're too lazy to watch to whole video,
Start at 04:00 into the video and go thru to 06:57 .

Maybe that not enough to convince you, so ... IF you can understand a REAL scholar on economics, here's another video: And finally ... here's one more with a more simple format : But I doubt you'll "Get it".
You pride won't left you.
109 posted on 09/22/2019 7:51:59 PM PDT by Yosemitest (It's SIMPLE ! ... Fight, ... or Die !)
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To: Yosemitest

You managed to repeat in your post #85 an argument from the very same that book that I had just cited in post #84, without having any clue that you had done it.

That’s an achievement rarely accomplished by anyone, particularly when the book quoted argues against their own case. Congratulations.

Either you don’t read (likely) or you don’t understand a word of what you do read (even more likely).

Anyone else would be slowed down after having pulled a stunt like yours, but you’re a trooper who has filled his noggin with the finest of conspiracy junk and you’re eager to share it. I’ll get the tin foil out and wade in!


110 posted on 09/22/2019 11:24:28 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: qaz123

https://www.youtube.com/watch?v=WTGok1W_mNI&feature=youtu.be


111 posted on 09/23/2019 11:11:02 AM PDT by babble-on
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To: Pelham
You REFUSE TO ACKNOWLEDGE the FACTS that in Comment #85, Julie Borowski RIPPED Friedman APART with her REBUTTAL.
Lets AGAIN REVIEW the WHOLE POINT IN CONTEXT ! Did you 'get that', or will your PRIDE NOT ALLOW YOU to acknowledge the truth ?
I will REPEAT the truth for you again ! Then again in Comment #98 Don Watkins shot Friedman's THEORIES full of holes.

Remember:
112 posted on 09/23/2019 12:22:08 PM PDT by Yosemitest (It's SIMPLE ! ... Fight, ... or Die !)
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To: Yosemitest

When you posted your copy & paste screed which included the selection from Friedman & Schwartz stating that the Fed failed to intervene to halt the Depression you gave away the fact that you have zero understanding of what you post. Or that you don’t read what you copy & paste.

Either way it’s “an admission against interest”. You’re a typical poseur who is drawn to conspiracy theories, and your main skill is tossing poo at those who expose your ignorance. But the all caps and boldface is a nice touch, maybe you should go into poster art.


113 posted on 09/23/2019 12:38:58 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: Yosemitest

You posted a long opinion piece as fact. An opinion piece that included a bad definition of inflation and deflation to boot.

It’s neither accurate nor proof.


114 posted on 09/23/2019 2:39:45 PM PDT by jdsteel (Americans are Dreamers too!!!)
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To: All

Money printing/QE/liquidity injection/black swan update BUMP!

Fed printed $75 billion so far in overnight/4-day “repo” operations:
https://www.newyorkfed.org/markets/opolicy/operating_policy_190923

Good general background info. update:
https://fortune.com/2019/09/23/repo-market-big-deal-400-billion-bailout-unnerving/


115 posted on 09/23/2019 3:36:31 PM PDT by Drago
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To: jdsteel
WRONG.
You just don't like the FACTS those two articles present !
116 posted on 09/24/2019 10:10:36 AM PDT by Yosemitest (It's SIMPLE ! ... Fight, ... or Die !)
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To: Yosemitest

You can accept bad opinion all you want, but that does not make them facts.


117 posted on 09/24/2019 1:28:32 PM PDT by jdsteel (Americans are Dreamers too!!!)
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To: Yosemitest
banks are loaning out more money than they have

Banks aren't allowed to do that.

118 posted on 09/24/2019 2:08:46 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot
The banks are doing it anyway.
Every heard of the term "bank money" ?

Here's another source confirming that FACT :

Then there's this little bit of additional information on a separate issue with the USA Banks and the Federal Reserve funding the Banks every night from Friday night Sept 20, 2019 until Oct 10, 2019 from $1.8 TRILLION to $2.2 TRILLION .
So WHAT THE HELL IS THE REASON FOR THE FED NEEDING TO DO THIS ?
119 posted on 09/24/2019 10:14:02 PM PDT by Yosemitest (It's SIMPLE ! ... Fight, ... or Die !)
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To: Yosemitest
This leads to a money multiplier effect. If, for example, the amount of reserves held by a bank is 10%,

This means they can only lend out 90% of deposits, not multiples of deposits. Not "loaning out more money than they have".

120 posted on 09/25/2019 4:41:03 AM PDT by Toddsterpatriot (TANSTAAFL)
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