Posted on 03/15/2024 8:47:43 AM PDT by Red Badger
Not to worry. The vast majority of US currency is abroad (it’s used as foreign reserves for international trade). When, not if, the US$ loses its position as the world’s reserve currency, all that currency will flow where? In the meantime the FED can just keep printing and whistling. What’s coming will be a real bugger.
“This year is the 95th anniversary of the stock market crash of 1929.”
Last year was the 94th, next year will be the 96th! OMG!
“Fearmongering nonsense.”
That’s putting it mildly. The ignorance is astounding.
When all that money comes flowing back in, inflation will go off the charts......................
Fidelity badgered Dad for a DAY with all kinds of inappropriate questions when
he wanted to help his Active duty USAF Grandson’s family replace a failing
automobile. They only finally released the money when he voiced suspicion
that they no longer had his money to release.
We didn’t think it be like that, but it do.
Huh?
Let's say I take $1000 out of my bank to buy some ones and zeros which are somehow more valuable than other ones and zeros. So I go to Crazy Jan's Bitcoins and Tulip Bulbs and give Jan a stack of hundred dollar bills for his ones and zeros. Jan now has a thousand dollars where he has to put somewhere. He could put it under his mattress, thus reducing the multiplier effect of fractional reserve banking. But more likely he will put it back into a bank. Net effect on the banking system: zero.
It’s the 95th anniversary of the birth of Martin Luther King Jr (born Michael King Jr January 15, 1929).
He was (re-)named after Martin Luther, who authored The Ninety-five Theses - which launched the Protestant Reformation.
Happy Anniversary!!
Do what the rappers do. Steal your cash and yo managers cash and buy yo self some bitClown Coins.
bitClown is down today. Slightly
xxxx F’em!!
So is the Clown Market. Slightly.
Not surprising since 97% of money is digital.
Back a couple years ago there was a nationwide coin shortage.
I don’t know why. Nothing hardly uses coins any more.
Even the local laundromats have credit card machines on teh washers and dryers..............
IIRC, the FDIC has a line of credit of $750 billion from the Treasury. I worked for them during 2009-2014. We closed 500 banks during that time. FDIC is the only agency I trust in the federal government.
And yesterday was Pi day, what a coincidence!
Federal Reserve Board announces the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11 (watch AU/AG/DOW this week) (Mar 10, 2024)
https://www.federalreserve.gov/newsevents/pressreleases/monetary20240124a.htm
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FR Comments: https://freerepublic.com/focus/f-news/4223286/posts
🙂
The Federal Government spending has left the economy with shrinking private sector, shrinking manufacturing, enormous inflation, high interest rates, anddevalued dollar. I am sure we can agree on that.
Printing more money for the Federal reserve to bail out commercial banks and bankstocks would re-ignite the inflation furnace, drive up interest rates, crush small business even more, devalue the dollar so much it won’t be the worlds currency. That would force the government deficits higher (interest on the debt could get close to tax revenue) and the price of goods imported to the auS would go up by a factor of at least 10x. The would result in businesses initially cutting workers to save money, dramatically increasing dependency on the federal government.
In my opinion, that could result in the government pausing the banks, nationalizing everyone’s 401k to cover it. Ultimately that could make the entire nation unstable. Expect 1200 bank failures (and major listed Stocks) over the next year or so. This is what the experts say. Take a look at the stock values for major commercial property companies, down 80% or more already.
Bidenomics is just rewrapped Keynesian economics, it’s been tried and always failed. Now they call it modern monetary theory. It all ends the same…..dictatorships and/or extreme economic failure and poverty.
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