Posted on 09/17/2021 9:33:37 AM PDT by RandFan
@disclosetv
JUST IN - Federal Reserve officials, including Chairman Powell, owned securities that the U.S. central bank has bought during the #COVID19 pandemic (CNBC).
(Excerpt) Read more at twitter.com ...
2) I'm shocked they're bailing out their friends and enriching themselves... /s
I’m pretty sure the Fed, just like Congress, and other ruling elites, are exempt from insider trading laws.
Part of this is coming out to get rid of Powell. Dems want someone who has a even bigger printer.
The Dims want someone who buys only the “right” kind of assets, like woke corporations and minority owned and China owned.
Americans, by in large already support china with their retirement accounts. Nothing has helped china more than folks with 401k and investments.
It is astonishing to me how the media manages to ignore the reality of what Bernanke did. And his successors.
They create money from thin air. There is no GDP basis for how much. There is no basis at all other than whimsy.
Think about what this means — a substance is created from nothing, with no basis other than whimsy. Then interest is charged on it and many people are unable to pay that interest when they borrow. It can destroy marriages. It can generate suicide.
All over a substance that means NOTHING. That came from NOTHING. That has no rationale behind it. I think it was Milton Friedman who once said “if the common people knew where money comes from there would be torches and pitchforks in the streets coming for central banks and all of government”.
The US is going to have debt of $30 Trillion this year or next. This is 150% of GDP, and GDP itself is measured with government spending as part of the equation — the same government spending that generated the $30 Trillion.
Buy farmland. Only calories have value.
Let’s compromise. We can keep Powell, but get rid of the Fed!
“Buy farmland. Only calories have value.”
Guns, ammo, and violent men have value.
The class of securities Powell owned were municipal bonds which are insured and low risk. These are very popular with high net worth people that want to park their money and limit their tax liability since most distributions are tax exempt.
The Federal Reserve also buys this same class of low risk insured securities to inject liquidity into the economy. They didn’t buy the same municipal bonds as Powell which would have directly affected his portfolio.
The point is that this is a non story. People seem to be trying to undermine Powell and get his to resign. He is seen as a Trump supporter and the Biden crime family wants their own man heading the Fed.
It should be obvious by now that all of our institutions are terminally corrupt. There is no going home from here.
The level of corruption in this country amongst the elite rivals 3rd world countries at this point. Actually it may even be worse.
This is the pinnacle of corruption.
😮 I don’t believe it.
Unless they owned speculative bonds, and then sold them after the Fed pumped up their price, it is hard to understand why this is a controversy.
Biden will probably use this to force resignations, and then replace them with neo-Marxist economists.
Exactly. Yawn.
The point is that this is a non story.
That's why they gave zero details in the tweet.
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