The major newspapers and magazines were consolidated by a few owners starting in the 1890s. The Rhodes conspiracy was behind some of it. So the shift after the Feral Reserveless scheme began is not coincidence. It's a deliberate part of a programme of propaganda by people who not only imagine themselves in power over mankind but also believe that they deserve the kind of anti-human power they seek to exercise.
In that clip, I think Powell admitted that the fed has monetized the debt because we will never get back to pre financial crisis balance sheet. He’s only talking about getting back to pre COVID levels which I bet won’t happen either.
Back in 2013, St Louis Fed wrote:
“ If the recent rapid accumulation of Treasury debt on the Fed's balance sheet constitutes a permanent acquisition, then the corresponding supply of new money would be expected to remain in the economy (as either cash in circulation or bank reserves) permanently as well. As the interest earned on securities held by the Fed is remitted to the Treasury, the government essentially can borrow and spend this money for free.”
Weird how Powell isn’t asked about this natural follow up question. I’d ask if I’m invited to the next FOMC press event.
I think a non-log scale plot of the fed assets is more dire looking - the recent QT still looks unimpressive and you can truly appreciate how insane 2020-2022 was.
The major newspapers and magazines were consolidated by a few owners starting in the 1890s. The Rhodes conspiracy was behind some of it. So the shift after the Feral Reserveless scheme began is not coincidence. It's a deliberate part of a programme of propaganda by people who not only imagine themselves in power over mankind but also believe that they deserve the kind of anti-human power they seek to exercise.
“Because the music that they constantly play / It says nothing to me about my life.”
Morrissey/Smiths have a number of beautiful lyrics
Endless supply, which has stood the test of ~40 years.
In that clip, I think Powell admitted that the fed has monetized the debt because we will never get back to pre financial crisis balance sheet. He’s only talking about getting back to pre COVID levels which I bet won’t happen either.
Back in 2013, St Louis Fed wrote:
“ If the recent rapid accumulation of Treasury debt on the Fed's balance sheet constitutes a permanent acquisition, then the corresponding supply of new money would be expected to remain in the economy (as either cash in circulation or bank reserves) permanently as well. As the interest earned on securities held by the Fed is remitted to the Treasury, the government essentially can borrow and spend this money for free.”
Weird how Powell isn’t asked about this natural follow up question. I’d ask if I’m invited to the next FOMC press event.
https://research.stlouisfed.org/publications/economic-synopses/2013/02/01/is-the-fed-monetizing-government-debt/
Never noticed that re "panic"...excellent
I mix the charts up to avoid boredom
I think a non-log scale plot of the fed assets is more dire looking - the recent QT still looks unimpressive and you can truly appreciate how insane 2020-2022 was.
So people have choicefully not used the term "panic" in the last 100 years. Perhaps people will panick soon.
When in panick, when in doubt
Run in circles, scream and shout.