You are naive.
You don’t think that the member banks get money at a discounted rate, and that they are not turning around and lending it—or simply buying Treasury bonds. Low risk interest income.
Ok, you haven’t held dollars since 1913. That’s fair. Do you have any money in savings? Well, the fed took away 2% of that last year.
And, the Feds injection of $85 billion per month is not going to lead to inflation?
You must work for CNBC if you really believe that the people ruining the Fed, and the member banks give a flying f&@k about you or me. They care about the dividends and interest that they get for running the economy.
You have to agree that the increase of interest rates on government debt is not going to drive the economy into the ground.
Be more specific, at what rate can they borrow from the Fed?
that they are not turning around and lending it—or simply buying Treasury bonds.
Which bonds should they buy? Be more specific.
Do you have any money in savings? Well, the fed took away 2% of that last year.
I don't hold much cash and the Fed didn't take away any of it. I did manage to cut my mortgage rate by a full percentage point. I should save 5 figures on that.
And, the Feds injection of $85 billion per month is not going to lead to inflation?
If the banks don't have the capital, or the inclination, to lend.....no.
They care about the dividends and interest that they get for running the economy.
Dividends? How much do they get?
You have to agree that the increase of interest rates on government debt is not going to drive the economy into the ground.
Huh?
It can't happen quick enough!
We need a full blown depression that wipes out every leach in this country that is living on credit!
We also need the government to not intervene like 1920 when that depression was over within a year.