Posted on 03/13/2023 2:49:02 PM PDT by george76
Jim Cramer sez that JP Morgan is solid.”
I use JP Morgan. I tried to escape to smaller banks but the web interface is so superior with Chase bank. I used US Bank for a while but was nauseated by their Gay Pride bs.
I read that besides the gov throwing some money to SVB Chase also invested money. Maybe they will take it over as they did with Washington Mutual years ago.
Many thanks; check kim dotcom tweet thread:
https://twitter.com/KimDotcom/status/1635281492267106306
RE: .... Everything, Everywhere, All at Once
That phrase sounds familiar. :)
Yup
(The Biden Economy — .. falling apart, everything, everywhere all at once.)
All according to plan? /shiny side out
BidenDepression 2023
World War III follows
Yep.
Ba-da-bing!
I never knew about Gene Gene The Dancing Machine back then
Planned. They are creating pressure on states to adopt the commerce bill that gives the fed the monopoly on digital currency. Kristi Noem did a great explanation of this. Start burning up the phones of your state leaders.
And the racist lesbian puppet spews dog s### again and again
In 1977, in one of history’s greatest examples of “passing the buck”, Congress established the “dual mandate” for the Fed: to provide simultaneously for maximum employment and price stability.
Unfortunately, the only tools the Fed has to pursue its mandate are monetary. They can set targets for short term interest rates, set the reserve requirements for banks, and tweak things through open market operations.
Recently, they have gone further, actively buying securities to push money into the economy, to maintain interest rates near zero. This is “Quantitative Easing”.
The Congress and every Administration since 1977 have become more and more active in pushing money into the economy through spending. The Fed dutifully soaked up whatever debt the Government had to take on to obtain the cash for this. Congress created a legal limit on the debt the Government could carry in (I think) 1914. Since the 90’s, the debt ceiling has been neutered as Congress makes knee-jerk increases in the limit each time they can’t find the fiscal discipline to stay within it. As a result, the limit has increased from about 3 trillion dollars in 1990 to over 30 trillion today, and the Government now whines for more.
The Government continues to push money into the economy through constantly increasing spending. Under the current administration, “helicopter money” became fashionable, with direct distribution of money to businesses and individuals, in exchange for nothing.
Since money is defined to be a store of value, representing some work or production, distributing it in exchange for nothing is necessarily inflationary as we have “more dollars for no more goods and services”.
The Fed has zero ability to control the Government’s fiscal irresponsibility. Still, by law they are required to attempt to maintain price stability. Since they have only monetary, not fiscal, tools to attempt this, they work on the money supply through interest rates.
Increasing interest rates hamper the ability of business to produce goods and services. Normally, this would slow the economy and inflation could be wrung out of the system. But when the Congress and Administration continue to flush new funds into the economy even as NOTHING is produced and no services are performed in exchange, the efforts of the Fed are directly offset and defeated.
This means that fiscal irresponsibility defeats the Fed in attempting to fulfill its mandates. Congress, the Administration, and the mainstream press whine that the Fed isn’t getting it done, and complain that the economy is being crushed. In the meantime, “free money” stimulates demand for fewer and fewer goods and services, and prices necessarily climb. Combined with the business-crushing effects of rapidly rising interest rates, the result is stagflation.
Now, in the face of collapsing businesses, the distribution of free money (I can’t call it spending when nothing is asked in return) continues, and the Government whines that the debt ceiling must be increased yet again.
As the Fed attempts to reduce its balance sheet, it is willing to purchase less US debt. This increases interest rates even more.
Until the Congress imposes real restrictions on spending and the distribution of “Free money”, the Fed will be required, BY LAW, to attempt to counter the effects by crushing the business economy.
Now ask yourself: “Are these people (Congress and the Administration) merely stupid, or are they getting the result they want?
Thanks Joe Biden.
IMHO, cryptocurrency is a scam. Like investing in Tulip bulbs once upon a time.
Yep. Digital currency will be “the only thing that fixes this”. It’s coming faster than we can stop it. Imagine this same tyrannical government controlling your money. Bad esg score? Wrong social media posts? Have an account at freerepublic??? No money for you! The ultimate control mechanism.
Bad esg score? Wrong social media posts? Have an account at freerepublic??? No money for you!...
Mirror image of China’s social credit program.
Who owns Biden: China.
Brave new world.
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