A billion here and a billion there, pretty soon your talking real money. 10% goes a long way.
Check the big guy’s bank account...
Anyone check the turnips sock drawer?
Gangster government at work for you.
It’s already been blown up Hunter’s nose...
While they're at it, how about paying off CIA officials to lie about Hunter's laptop, the origins of COVID, etc..
President Demento probably used it to cancel student loans for Pre-school and Head Start student loan deadbeats.
It doesn’t matter because the Fed is a money-printing apparatus designed to make sure the assets of its owners (the banks) and those of the upper class (stocks) remain secure by making sure the rest of us pick up any losses. It’s the primary guarantor of the socialization of losses and privatization of profits.
The problem with having a criminal at the top is all the lower level ‘employees’ think it gives them a pass. President Sniffer has set the standard. I’m guessing ‘lost’ money is common all over the DC hellhole.
Secrets of accounting—rule #1:
You cannot be insolvent if you have a printing press in the basement.
;-)
Chump change! Now if it was 57 Quadrillion, THAT’S REAL money!
Quantitative Easing eventually has to come home to roost.
would this have to do with the overnight repo window for the banks...?
Essentially the Fed is bankrupt.
News like this should crash the economy, the real question is ...will it?
57 billion in payoffs, graft and bribes. We know that’s where it’s gone.
One thing we will never get is an audit of the Federal Reserve, could ask Reagan if he were alive, he wanted to but was convinced to drop it.
Full faith and credit….lol.
The fancy name for it is “monetizing the debt”. The article points out that the Fed can never really be insolvent, as it can just print more money. (Actually, they just arbitrarily can increase the total amount of currency in circulation with a few ledger entries in a computer.)
What happens when you print more money? You create inflation and devalue the currency already in circulation. That means everyone invest in dollars gets hosed. I use the term “invested” loosely - if you have savings in US dollars, then you’re invested. If you’re China, and hold trillions in US Treasury Bonds, you’re invested. If you’re the Social Security system and your excess assets are invested in US Treasuries, you’re invested.
Get ready for “the great reset”.