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Fed Swears to Preserve, Protect, and Defend Moral Hazard 3/26/20


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30 minutes ago, Jorma said:

It isn't ownership. It's the supplier of capital  to the owners via buying their debt. . With an interest, really an imperative, to make sure they do not default on that debt. Thus all layers of government will support the favored  companies and if needs be the Fed will continue to give them more credit.

I came in here 18 years ago saying that somehow, and I didn't know how and back then I didn't really know how the banking system created money, I mean really know the mechanisms, that eventually money would be based upon corporations.  So here we are.

Some will say it's the end of capitalism but I look at it as the perfection of it. 

to close to fascism for me

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LEE'S FREE THINKING

Fed Paid Primary Dealers $110 Billion Outright Today 3/26/20

by Lee Adler •  • 0 Comments

The Fed bought $74 billion in Treasuries and $36 billion in MBS from Primary Dealers today. That’s a month’s worth of old QE in a day. They’ve been doing it every day this week. 

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Sorry for not participating today - I'm currently in a state of denial about the scale of fiscal and monitory stimulus. As dangerous as COVID-19 is I have this feeling in my gut that what we just did to America's future is far more ominous. I simply can't believe that rational human beings traded the beacon of light that is America to prop up the stock market wealth and power of the oligarchs. What type of fascism this will spiral into I can not see. But I do see a dark and foreboding night descending upon us. And I see myself imaging a time of light long since extinguished and wishing I could return there.  

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On the other hand being against inflation in America is like being a flat earther.  People just don't get it. Don't get that inflating stuff and calling it wealth can be anything but a total positive. Everybody wants some. Let's face it. Real deflation would be a mofo.  In large part because the corporate world would make sure it was.  Willing to burn it all down if they can't have more and more.   And then too human nature and American's belief in the right to get rich, by inflation, would cause, resentment, to say the least. 

So I think Tesla or some Elon entity should float $200bn, for a starter. The Fed taking up half. Build starships and send them to Mars.  Welcome aboard..

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