Not to be outdone by the federal government’s efforts to shovel trillions of other people’s money out, the Federal Reserve has been active in “printing” dollars like there’s no tomorrow and showering the vast sums upon the usual suspects that are too big to fail. Watch
With a 2.2 trillion bailout law, and 60% of the workforce laid-off, how did they think we were going to pay for this mess, borrow from the Chinese (again)?
It’s just money.
Inflation will come soon.
the Fed was set up to use taxpayer $$$ to bail out the big banks … that is it’s true function … “too big to fail”
if you ever care to explore it’s creation & function, read ‘The Creature From Jekyll Island’ by G. Edward Griffin … Griffin’s gone down a few ‘rabbit holes’ in his time, but this one is spot on.
btw, Ron Paul was correct … End the Fed!
(probably too late, since the economy is now totally run by fiat money)
I know I’m repeating myself, but https://youtu.be/j2AvU2cfXRk
Next year, after Trump has secured another 4 years and GOP Congress (RINOs notwithstanding), he and Rand Paul need to push through an audit of the Fed. It will never, ever, happen unless Trump and Paul are able to push it through.
Yeah, but gasoline is $159.9 a gallon. Molotov cocktails are affordable again….
The cocktails may be cheap, but bread and milk will require a wheelbarrow full of money!
There will be a reset.
Guess who wants to be the new dealer? Same people that got us here. Only you just have to trust them. Gold standard is the only true money.
There needs to be a reckoning for the real smart people that did this.
Why not just have a National Forbearance, Deferment or Moratorium ? Help your neighbors, your customers and yourselves. No one charges anyone interest or requires principal repayment for 3-4 months. Have the lenders agree in exchange for their own skips.
It would require a lot of system modifications but is that more or less expensive than $4,000,000,000,000?
The bastids are stealing money out of my savings. Oh, sure the same amount of dollars are still there. They’re just worth less. What used to cost $5 will cost $20. Neat evil trick though. What used to be $2T in debt will only be the equivalent of $500M.
I still recall when I was 8 y.o. my grandmother sending me to the grocery store to get a loaf of bread for 25 cents and she said she it used to be a loaf of bread only cost 5 cents. I thought she was just pulling my leg, teasing me. Now I understand.
@Blink – Take some of those saved FRNs¹ and buy some Krugerrands or other non-numismatic gold coins. Also, maybe some junk silver². Gold is just under $1,700/oz. and silver is pushing $15.50. With fears of inflation growing, those prices are quite likely to rise. The buying power of gold and silver has remained remarkably stable for a long time. Their prices in dollars fluctuate, but that’s because of the fluctuation in the buying power of the fiat dollars.
I’m not suggesting betting the farm, but at least a portion of savings ought to be in precious metals that you have in your physical possession.
1. Federal Reserve Notes
2. Pre-1964 U.S. silver coins, also non-numismatic.
Yeah, a close friend of several decades (we had both been crew on a submarine) who passed away four years ago. Used to advise me to take a large chunk of my money out of banks or other investments, and start buying metal: Firearms, ammo, farm or garden tractors, garden tools, saws, axes, etc., gold and silver. In that order. I’ve only partly taken the advice. I try to be more optimistic about the future and never jumped into the deeper end of the pool where he jumped in.
@ΜΟΛΩΝ ΛΑΒΕ April 12, 2020 at 7:53 pm
> probably too late, since the economy is now totally run by fiat money
The week, the day, the moment, it fails… what goes with it? A single acre of wheat? A single loaf of bread? A single shelf, under the bread? The Internet? The “tubes” connecting the Internet? The “smart” phones that let you surf, while driving? The cars? The refineries? The pumps? Burn all the “it” of it, down… “water” the “ashes” (any “ashes” you can actually find)… and what, actually, is lost?
@AC at 7:53 pm –
What’s lost? Wealth. Lots and lots of accumulated wealth.
Since before Obola took office, this was the plan. Not in full, of course, and not anticipating Wuhan Flu, just capitalizing on national misfortune. The Anti-American Maggotry, including the Demonrat Party, Media, and Academia have striven mightily to shut down America – think back to the Carter “malaise” the Clinton trans-shipment of industry to China – to the economic slowdown under Bush – and the death-knell of Obola.
President Trump brought America back from the brink (as the Demonrats suspected he would) thus – their never-ending lies, hoaxes, and political impeachments.
Now, fate has given them another weapon – the Wuhan Flu – which they have, through hysteria, inflated into a terror. And America, being innumerate, took the bait and ran screaming into their basements.
The Demonrats have thence plundered the Treasury, corrupted the electoral process, and financially damaged our progeny.
The added inflation will (they hope and depend) be the coup de grace of Liberty.
They have enfeebled the greatest nation on Earth without firing a shot.
And we watched from the darkness of our basements in amazement and apprehension.
izlamo delenda est …
Where in the hell is Angry White Dude when you need him?
@Anonymous April 13, 2020 at 8:00 am
> Where in the hell is Angry White Dude when you need him?
It’s dickety-dickety! Get that onion off your belt! And go back to bed!
I paid into my retirement with regular dollars, will be getting back Carter dollars, am feeling a little sick of the gut,