get rid if the FED...
Posted on 05/08/2016 5:20:55 PM PDT by RayofHope
Presumptive Republican presidential nominee Donald Trump just revealed an inconvenient truth about U.S. debt, the outspoken and often controversial Peter Schiff told CNBC in a recent interview.
Last week, Trump joined CNBC's "Squawk Box" last week to discuss a wide range of topics including U.S. debt, interest rates and replacing Fed Chair Janet Yellen. It was Trump's comments about potentially renegotiating the more than $19 trillion in U.S. debt and the sensitivity surrounding higher interest rates that raised eyebrows.
While some observers argued that Trump's approach could be tantamount to a debt default, Schiff told CNBC the GOP nominee was fundamentally correct in his observation.
(Excerpt) Read more at cnbc.com ...
Hostage, I cannot see any direct haircut for these lenders, whether U.S. banks or sovereign funds, and do not really think that’s what Trump has in mind.
It seems to me he has been telegraphing devaluation; though, I admit, I do not quite know how this can be accomplished since, theoretically, the FED follows short-term rates.
But I do not really believe that. (Do you?)
I’d say step one is get rid of Yellen.
Totally agree with you about Ryan.
I believe he wants to get out in front of the problems and also let the voters know we are in heap big trouble.........
Remember when Hillary and Bill claimed they were broke after leaving White House? I mean, you are paid very well for years and end up broke? Not to mention perks galore.
So why vote for Hillary who will be the one to supposedly implement fiscal policies?
This should be brought up, IMHO.
Good info.
The brokerage community hopes they never pay off the debt.
Just keep rolling it over & compounding it.
Yes I do, it’s amazing how many of their cronies set up $50,000 speaking engagements for them both over many years. Then there is the Clinton Foundation which has many claims of irregularities bouncing around...
It is n9t a tough sell if the option is take nothing. What happens when interest payments exceed ability to pay?
However for the longest time I have been thinking as an intellectual exercise, why have a "Bond Ladder" with Treasuries etc. when the full faith and credit of the US is truly? Why not laddered corporates instead? Do you have more faith in P & G, J & J etc etc people that make the basics for other American's or 2 chambers filled with the equivalent of 535 Smuckey Chumers...
Yes, and it’s a good thing DJT is so good at negotiating deals.
Since the debtors know that US debt is more than can ever be repaid, the chances of them accepting at least some payment seem better than Default and no payment at all.
If she is elected this time she will leave rich and we will be the broke ones.
get rid if the FED...
Agreed.
$250 million is chump change and people making 2% on their money are not eating up wall street.
Other than that, I liked your post.
DJT is an expert at restructuring debt. He is extremely frugal as well. The combination of both of these facts bodes well for us. I can’t think of anyone who is better equipped to help the US avoid default.
I’m not saying that he will be successful, only God knows that. But DJT is expertly positioned to give it his best shot.
Paul “Ryno” is a member of the GBN.
Globalist Boys Network
I look forward to DJT dealing with this arrogant creature.
The vast majority of our debt was incurred at higher interest rates.
Only Three. One of the bankrupties (falsely) attributed to him was some years after he sold his name only to the enterprise.
Who are these idiots running the government who don't know this basic principle of negotiating? I have done it three times myself personally, and was successful in paying off two of my mortgages at hefty discounts. I paid off one $34,000 mortgage early for only $20,000. It wasn't considered a default by the lender. I offered to payoff the balance a year early but I only had $20,000. The lender accepted that amount for the loan payoff to get their money back early.
Trump is a businessman. He is used to doing this. He is only suggesting that we negotiate with China to release some of their debt at a negotiated discount. With our Treasury debt with China, just add a bunch more zeros but the principle is the same.
"W" checking out the Soc. Sec. lockbox in Parkersburg, WV
ONCE UPON A TIME, OBAMA'S COS EMANUEL HAD TWO JOBS Soon as they occupied the WH, Obama and the Chicago con artists (a) took control of the US Census; (b) Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (oversees the IRS).
PAUSE TO REFLECT First-term Obama had tight control of Treasury; Obama calculatedly placed his then-COS Rahm Emanuel in a dual role.......in the WH and at Treasury. Obama had a stranglehold on Treasury via COS Rahm Emanuel's dual role
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THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.
When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
More here: http://online.wsj.com/article/SB124113406528875137.html
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EXCERPT---FOURTEEN TRILLION DOLLARS Behind The Real Size of the Bailout; A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street
SOURCE motherjones.com
Mon Dec. 21, 2009 12:23 PM PST
The price tag for the Wall Street bailout is popularly put at $700 billion—---the actual size of TARP--the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside untraceable money to bail out financial firms and inject money into the markets.
To get a sense of the size of the real $14 trillion bailout, see MJ chart at web site. A guide to the pieces of the puzzle includes massive untraceable Treasury Department bailout programs.
Money Market Mutual Fund: In September 2008, the Treasury controlled by Obama/Emanuel announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury controlled by Obama/Emanuel made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury controlled by Obama/Emanuel bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury controlled by Obama/Emanuel may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout
>>Interesting since the us debt is owed to the federal reserve bank
Hmmm. Very good point. Since the Federal Reserve is a privately-owned bank, perhaps the US gov’t can outlaw them and cancel the debt. I wonder what could/would the Federal Reserve do then?
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