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vitterd

vitterd

Joined
Dec 24, 2021
Messages
4,381
It is getting bizzare out there... like half American voters skipped civics in middle school or think money grows on trees
I’m gonna be relocating minny. I’m looking for about 20k to get me started. Do you offer better than my local bank. I’m starting from scratch now, I invested all my money into a senate race. I think 5.3 percent is fair.
 

MinnesotaFats

MinnesotaFats

Joined
Nov 1, 2021
Messages
3,014
I’m gonna be relocating minny. I’m looking for about 20k to get me started. Do you offer better than my local bank. I’m starting from scratch now, I invested all my money into a senate race. I think 5.3 percent is fair.
Dude a fukking 30 year is like 7 now LOL

You moving to DC to push Lurch's wheelchair around?

I'd like to service his wife while he recovers...at least he has decent taste in pussy
 

MinnesotaFats

MinnesotaFats

Joined
Nov 1, 2021
Messages
3,014
I had a buddy just get into bad shape. So he rents out a house in FL and tries to make a living off it.

They prepaid 8k for Nov 15-Dec 5

Hurricane wipes out the beach etc so they cancel and hes obliged to repay them and no one has booked Dec yet lol

He goes ALL IN on Buffalo ML to try and make up the $8k he already blew...of course Jets win.

He is now into me for 10% a month :)

I sent him a box of cigars & a Zac Wilson framed picture!
 

vitterd

vitterd

Joined
Dec 24, 2021
Messages
4,381
Dude a fukking 30 year is like 7 now LOL

You moving to DC to push Lurch's wheelchair around?

I'd like to service his wife while he recovers...at least he has decent taste in pussy
I’m just joking ….I assume you know that.

Nah he’s good. He doesn’t need me anymore. Mission accomplished and he will always be my friend. I love the guy. Brendan will be his COS and he’s got some solid people there. I pray his recovery continues to go well.

His wife saved his life and she will be very much involved. Very smart woman
 

vitterd

vitterd

Joined
Dec 24, 2021
Messages
4,381
I had a buddy just get into bad shape. So he rents out a house in FL and tries to make a living off it.

They prepaid 8k for Nov 15-Dec 5

Hurricane wipes out the beach etc so they cancel and hes obliged to repay them and no one has booked Dec yet lol

He goes ALL IN on Buffalo ML to try and make up the $8k he already blew...of course Jets win.

He is now into me for 10% a month :)

I sent him a box of cigars & a Zac Wilson framed picture!
Good god. That’s brutal for that poor guy.
 

MinnesotaFats

MinnesotaFats

Joined
Nov 1, 2021
Messages
3,014

vitterd

vitterd

Joined
Dec 24, 2021
Messages
4,381
Indeed it is! Many ways to sheer a sheep!

FYI great read for those that care, applicable to our current situation and also the increasing wealth gap as the Fed actions disproportionately affect the poor while access is a reward for the wealthy.


Dissolution of the Fed could be a bi partisan topic of agreement
I’m fried. I can’t read anything right now. I’m just gonna gamble for the next 96 hours. I will be recharged again in about a month.
 

hazliam

hazliam

Joined
Dec 16, 2021
Messages
667
That's absolutely false.

Treasury prints what congress dictate them to print. To legally print it, they sell bonds. The Federal Reserve MUST buy those bonds if the free market won't, that's the problem with no gold standard. The FEDERAL RESERVE is "THE FULL FAITH AND CREDIT" of the US Government.

It will, by its charter, print whatever dollars ordered by the US budget or any resolution of congress. Most budgets are, in fact, merely continuing resolutions...that's why we always gear about "Government Shutdown" because treasury runs out of money and must print more...it can't do so without issuing debt (that pesky debt ceiling!!!) And once congress passes a new debt ceiling, treasury sells debts to the Fed and prints the money.

It is 100% dictated by the Legislature and signed by the President...since 2020 its 100% Joe Bidens fault, the Fed cannot refuse to buy US debt, because it is the full faith & credit (also stamped on every dollar in your wallet).
How is that absolutely false?

Again you already said congress dictates the the budget. The president can sign off on it or not,, if not that goes back for a vote.

You make it seem like the president and the treasury is all power with your 100% it is his fault.

In the same regard then we can say it is Trump's fault for tax and job act, causing inflation.

The difference between you and me is you are polarized with the political system. I don't care if it is a Dem or Rep sitting there and can see shit objectively.

Seriously try harder, in connecting Biden as a sole root of inflation.
 

MinnesotaFats

MinnesotaFats

Joined
Nov 1, 2021
Messages
3,014
How is that absolutely false?

Again you already said congress dictates the the budget. The president can sign off on it or not,, if not that goes back for a vote.

You make it seem like the president and the treasury is all power with your 100% it is his fault.

In the same regard then we can say it is Trump's fault for tax and job act, causing inflation.

The difference between you and me is you are polarized with the political system. I don't care if it is a Dem or Rep sitting there and can see shit objectively.

Seriously try harder, in connecting Biden as a sole root of inflation.
Congress passes (or doesn't) the Presidential budget.

Who has run the Senate (Schumer), the House (Pelosi) since 2020 elections, and the President (Biden)since Jan 2020 elections.

This isn't rocket science. Remember that big issue in the 2020 election about Trump & Biden promising $2k to each person? Trump COULD NOT get the then Senate majority leader McConnell to pass that because the US simply didn't have the fiscal wherewithal to do it responsibly. He allowed up to $600 I believe, and that literally too the US to 100% debt capacity as a measurement against GDP and/ or annual inflation versus debt costs.

Biden & the Democrats JUMPED on that and made giving away $2000 to everyone a POLICY if elected, and they won, and they followed thru with it with legislative action, signed by Biden per his campaign promise, ordering Treasury to issue checks to every American for $1400 or so (I can't recall the exact figure), and that wholly irresponsible act, which the previous Congress WOULD NOT DO, is why we have our current situation.

Now- back to your theory on the Fed having the 'right to refuse' to purchase treasuries not acquired in the OMC auction....although 1- being inconsistent & in violation w its charter, it would 2- lead to a US default, which would crash the entire world economy within hours.

Every time the debt ceiling issue comes up, and it will quite often going forward because the Fed must pay interest (higher interest now), it requires Congress & the President to sign off on printing more money. Because of Biden & the Dems in Congress the Federal Reserve is now actually LOSING MONEY....believe it or not that's how fukking stupid liberal economics are.

I've also attached 3 minutes of Milton Friedman for you, you'll learn just how simple this is via the greatest economic mind the world has ever known.

It is 100% Biden's fault....Trump WOULD HAVE done it too, but the Condervative Senate we had thru the 2020 election would not destroy the Country. Democrats however, they don't give a shit about the Country- modern Democrats are Authoritarian in nature and will do anything for power...as evidenced by our current situation & their continued lies regarding it AS WELL AS strangling the US economy via failed Authoritarian energy policy too.

Screenshot_20221109-234334_Samsung Internet.jpg

 

biggins

biggins

Joined
Jan 18, 2022
Messages
3,924
Minny your going off the rails. I don’t know what you just wrote because well you know why by now.
But the Democratic Party is in your head living rent free. There is more to life than politics.
Party on Garth.
 

stormtrooper8

stormtrooper8

Joined
May 30, 2022
Messages
9,429
That's absolutely false.

Treasury prints what congress dictate them to print. To legally print it, they sell bonds. The Federal Reserve MUST buy those bonds if the free market won't, that's the problem with no gold standard. The FEDERAL RESERVE is "THE FULL FAITH AND CREDIT" of the US Government.

It will, by its charter, print whatever dollars ordered by the US budget or any resolution of congress. Most budgets are, in fact, merely continuing resolutions...that's why we always gear about "Government Shutdown" because treasury runs out of money and must print more...it can't do so without issuing debt (that pesky debt ceiling!!!) And once congress passes a new debt ceiling, treasury sells debts to the Fed and prints the money.

It is 100% dictated by the Legislature and signed by the President...since 2020 its 100% Joe Bidens fault, the Fed cannot refuse to buy US debt, because it is the full faith & credit (also stamped on every dollar in your wallet).
Looks like you’re doing ok :)
 
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