Hello Björn,

Now all I'd like to know is how long your Feds can manage to prop BF>>up

the stock exchange before it all collapses.

Junk bonds. The Federal Reserve is buying junk bonds and corporate
debt ETFs in order to revive the American economy. That is what it
has been doing since the pandemic began.

Well, not entirely true. The FED is buying stocks in major US corporations that are going down.

The 1913 Federal Reserve Act (created the central bank) prohibits
it from buying stocks or corporate assets.

The US tax-payers are FED-prepping up the stock so that the share holders will get what they think they own -- and FO the rest of the ordinary citizens.

In March, the Fed set up the special purpose vehicle (SPV) to get
around the provision against buying corporate assets. This SPV is
funded by the US Treasury, and managed by BlackRock (BLK). This
is not quite the same thing as buying stocks, but the same basic
idea. Just on a smaller scale.

After all, there must be a limit even of how much money they can

print?

Fiat money. Scrip. Not real currency at all.

I know all there is to know about fiat money. I have a university degree to
show for it.

So do I. Now planning my next step. Becoming a published author.
Will you beat me to it? Better hurry, the window is closing fast.

I also know that there's a limit to how many trillions (US -- not metric) of
dollars the FED can print and get away with it.

Not if the next step is going cashless. Which is becoming a very
real possibility, given the coronavirus pandemic.

Hello! Do you think that we are stupid out here?

US President Donald J. Trump does.

Or maybe you know that we have a few Nobel Prise winners of our own?

Donald J. Trump would win the one for Economics for sure if the
Nobel Committee had any sense.

Just you wait until the Federal Reserve starts buying US stocks.
Then you will see elephants fly.

Are you kidding me?

The Fed does not have the legal authority to buy stocks (playing
in the stock market) due to provisions in the 1913 Federal Reserve
Act. But as I mentioned earlier, there are ways around that.

Besides, Japan (The Bank of Japan) has been doing this for well
over a decade (buying ETFs and Japanese stocks). And Switzerland
is also doing the same in regards to its own stocks.

The Feds have done nothing but flooding US taxpayer's "money" (we'll talk more about that word later on in this channel) for more than 20 years!!!

Yeah, we know. We know. And nothing really changes. As if talking
about it would ever make a difference.

Yikes! Are the US people the last ones to actually realize what is happening
here?

The American people voted for Donald J. Trump knowing full well what
he would do, as he told them in advance exactly what he would do.
It is the rest of the world that refuses to believe Americans did what
they actually did, and what it means.

They didn't even know what the Chinese or the Russians knew about it?

Donald Trump is always right.
That is the only thing they need to know.

WOW!!! What *is* actually the average IQ of a US citizen?

Sorry. I can't count that low.

--Lee

--
Education not deportation!

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)

Hello Wayne,

[...]

I know all there is to know about fiat money. I have a university
degree to show for it. I also know that there's a limit to how many
trillions (US -- not metric) of dollars the FED can print and get away
with it.

Great to know! I will probably have a lot of question. If I may start with one, where can we find out when money is printed and how much?
(This must be public information, I suppose.) Does the question make sense? Thank you!

Jekyll Island. Meet the Creature. Learn everything you have always
wanted to know ...

--Lee

--
Often Licked, Never Beaten

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)

If I may start
with one, where can we find out when money is printed and how much?

That's an easy one. It's your central bank that "prints" your money.

The US however does not have a real central bank, they have a regular, private bank called the Federal Reserve, and that is a really interesting story, that will not fit into a regular Fidonet message. Google for "Federal Reserve Act" to find out more.

Not even the US citizens (save for perhaps a few percent) know about this incredible institution that has such enormous impact on their economy:

"It is well enough that people of the nation do not
understand our banking and monetary system, for if
they did, I believe there would be a revolution
before tomorrow morning."

-- not Henry Ford 8-)


..

--- Mozilla/5.0 (Windows; U; Windows NT 5.1; sv-SE; rv:1.9.1.16) Gecko/20101125
* Origin: news://eljaco.se (2:203/2)

Well, not entirely true. The FED is buying stocks in major US corporations
that are going down.

The 1913 Federal Reserve Act (created the central bank) prohibits
it from buying stocks or corporate assets.

And the Fed cares about legality shit how?

In March, the Fed set up the special purpose vehicle (SPV) to get
around the provision against buying corporate assets. This SPV is
funded by the US Treasury, and managed by BlackRock (BLK). This
is not quite the same thing as buying stocks, but the same basic
idea. Just on a smaller scale.

Ah yes, that's how. Thank you Sir.

So do I. Now planning my next step. Becoming a published author.
Will you beat me to it? Better hurry, the window is closing fast.

Nah, I'm one of the founding fathers of the original (i.e. Swedish) Pirate Party. I'm not into that copyright shit business.

I also know that there's a limit to how many trillions (US -- not
metric) of dollars the FED can print and get away with it.

Not if the next step is going cashless. Which is becoming a very
real possibility, given the coronavirus pandemic.

Yes of course, you are quite right. But all fiat money is still just virtual, weather printed on (toilet?) paper or ending up as a number in a computer data base.

Hello! Do you think that we are stupid out here?

US President Donald J. Trump does.

Sorry. I forgot about him. Easily done, no?

Or maybe you know that we have a few Nobel Prise winners of our own?

Donald J. Trump would win the one for Economics for sure if the
Nobel Committee had any sense.

I've always wondered how he reacted to the fact that Obama got the Peace Prize -- considering his violent reaction to Greta Thunberg making it to the front page of the Times.

The Fed does not have the legal authority to buy stocks (playing
in the stock market) due to provisions in the 1913 Federal Reserve
Act. But as I mentioned earlier, there are ways around that.

Legal, schlegal. The Big Guys always find a way around such trivial shit.

The Feds have done nothing but flooding US taxpayer's "money" (we'll talk
more about that word later on in this channel) for more than 20 years!!!

Yeah, we know. We know. And nothing really changes. As if talking
about it would ever make a difference.

Yeah. As if talking about it ever would... :(

WOW!!! What *is* actually the average IQ of a US citizen?

Sorry. I can't count that low.

LOL!

I see that still some 45% of your people think that he's the perfect guy for you. Incredible. He's done absolutely nothing right (because he's done nothing at all but playing golf and tweeting) about anything during his entire time in the WH.

How in heavens name can anyone at all think that he's the best president for the USA? A Putin loving, Kim Jong-un hugging traitor? Sigh, how blind can those 45% be...?




..

--- Mozilla/5.0 (Windows; U; Windows NT 5.1; sv-SE; rv:1.9.1.16) Gecko/20101125
* Origin: news://eljaco.se (2:203/2)

Hello Kurt,

Time for you to meet the Creature from Jekyll Island.
By G. Edward Griffin. It is quite a tome, but well worth
the read. Happy Hunting.

Wow. GEG's wikipedia page is the most severe hatchet job I've read in
a long time. Time for some balanced editing.

I did try to warn him ...

--Lee

--
Pussy grabs back!

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)

Hello Wayne,

[...]

I know all there is to know about fiat money. I have a university
degree to show for it. I also know that there's a limit to how many
trillions (US -- not metric) of dollars the FED can print and get

away

with it.

Great to know! I will probably have a lot of question. If I may

start

with one, where can we find out when money is printed and how much?
(This must be public information, I suppose.) Does the question

make

sense? Thank you!

Jekyll Island. Meet the Creature. Learn everything you have always
wanted to know ...

Thank you for the recommendation. I completely read part I and II and continue the reading, but I think I can open some tangents on my reading to ask some clarification and do some verifications.

Money is not what most folks think it is. Look at it as more of a
process. Who controls it, and how it is used.

On page 192 of the 5th edition, George Edward Griffin begins to describe the ``Mandrake Mechanism''. I was warned that the process might not
make much sense, but I'm not trying to find any sense in this. My interest in only in clarity.

``First, the Fed takes all the government bonds which the public does
not buy and writes a check to Congress in exchange for them. (It
acquires other debt obligations as well, but government bonds comprise
most of its inventory.)''

Let me take each step carefully. The government issues bonds. Some people buy it. Some bonds are not bought. How does Congress get
involved in this? Is it the case that Congress buys all those people
did not buy? With what money does Congress buy? Is Griffin saying that the Fed itself ``writes a check to Congress'' so that Congress can
afford it?

Let me begin with these questions only. Thank you.

The Congress does not spend money. It merely appropreates funds.
That is what most folks fail to realize, or simply do not understand.
Bankers understand the process, and how to make money work for them.
You see, money is nothing more than a medium of exchange. And as you
know, no real money ever passes hands in Congress.

--Lee

--
Make 7-Up Yours

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)

Is that scary enough for you?

You have such a nice way to explain things, thank you muchly.

Now all I'd like to know is how long your Feds can manage to prop up the stock exchange before it all collapses. After all, there must be a limit even of how much money they can print?



..

--- Mozilla/5.0 (Windows; U; Windows NT 5.1; sv-SE; rv:1.9.1.16) Gecko/20101125
* Origin: news://eljaco.se (2:203/2)

Hello Björn,

Is that scary enough for you?

You have such a nice way to explain things, thank you muchly.

Anytime.

Now all I'd like to know is how long your Feds can manage to prop up the stock exchange before it all collapses.

Junk bonds. The Federal Reserve is buying junk bonds and corporate
debt ETFs in order to revive the American ecnomony. That is what it
has been doing since the pandemic began.

After all, there must be a limit even of how much money they can print?

Fiat money. Scrip. Not real currency at all.

Since the pandemic began the Fed has acted as a server of
emergency lending programs, making purchases of Treasuries
and mortgage bonds, among other things. The goal is to make
sure companies and households have access to all the credit
they could ever need or want, as credit is the lifeblood
of the economy.

After the events of 9-11, GWB stood between two gigantic
firemen at the base of what used to be the WTC Twin Towers,
and told Americans to "hug your children" and "go shopping"
because we have a consumer society (60% of the economy was
due to consumer spending).

The current pandemic that is running rampant in the USA
needed a different approach.

Governors around the country placed the people in their
states under stay at home measures, closing many businesses
and costing lots of people their jobs.

After giving people free money not to work, people are now
being told to go back to work with no more free money coming
their way. As a result, many people are losing their lives
and the jobs they thought they had.

After re-opening most of the country, the USA is back to
square one. Lots of people dying, hospitals not having enough
beds, etc. And still millions upon millions of people without
jobs. The next stage being when those unemploymnt checks run
out, leaving those without jobs being broke and homeless.

But the stock market exchange lives on. As it will forever.

Remember the stock market crash earlier this year? The S&P 500
had lost half its value. But since March 23, when the Fed started
buying junk bonds, the Federal Reserve's balance sheet has grown
to $7 trillion. That's a lot of junk bonds. Going from flat
broke to $7 trillion in less than four months.

Just you wait until the Federal Reserve starts buying US stocks.
Then you will see elephants fly.

--Lee

--
If it doesn't say Jiffy Lube, it's not Jiffy Lube

--- MesNews/1.08.05.00-gb
* Origin: news://eljaco.se (2:203/2)