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The One Press Release That The S&P Will Never Issue
It took less than 48 hours for the market to completely shrug off S&P's warning about America's credit rating, even as the dollar: that prima facie indicator of US stability and viability, has just hit a fresh 16 month low. And while nothing anyone says has much of a chance to impact the market, which continues to move with a negative 1 correlation to the now default carry funding currency, the following is the press release that S&P should issue if it wants to truly bring attention to the US debt crisis.
NEW YORK (Standard & Poor's) April 22, 2011--Standard & Poor's Ratings Services said today that it initiated ratings on the debt issues of the Federal Reserve System (commonly referred to as U.S. dollars) with a AAA/Negative Outlook.
We derive our opinion from the observation that the Federal Reserve’s assets consist of roughly $2.5 trillion of government debt with a deteriorating outlook against $52 billion in capital, thus yielding a leverage ratio of 48x.
In addition to its highly leveraged exposure to a deteriorating credit (the United States of America), the Federal Reserve’s stated strategy is to sell these securities back into the market (as a means of tightening policy). In the event of future downgrades of the U.S., these securities are likely to generate losses in multiples of existing capital.
The Federal Reserve intends to handle said losses via a ‘negative liability’ account, which makes them the liability of the United States of America. This creates a very clear event horizon, or point of no return: downgrades of U.S. government debt generate substantial losses on Federal Reserve’s balance sheet, which then make the U.S. government’s debt larger than it was before the downgrade, thus creating a vortex of deteriorating credit.
If we were to lower the ratings on the U.S., we would also lower the ratings on the debt of the Federal Reserve, as well as our issuer credit ratings on all other individual GRE entities.
From John Lohman
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Alternate reality.
Will obama be on the trillion dollar bill?
Of course! Geithner and Bernanke will be on the reverse. Based on the Weimar it'll buy you a loaf of bread!
It will have an LCD screen and they can "adjust" the value as needed.
Ahhha, Enron accounting standards! Where do we post ahem "that loss" sir Bernanke?
Bernanke: Just create a new account. Call it the negative liabilities account and throw all our crap in it. We will pay this account with funny money via QE 1 and QE 2 and etc.....it will be epic!
*crickets chirp*
http://www.youtube.com/watch?v=CQFEY9RIRJA
now you can add it ;-)
Treason of the highest order.
Not obtuse enough for at least 3 of you.
Guess I'll dumb it down for you:
No one will understand or care if they did, BITCHEZ!!!!!!!
I dont see why that would have been junked...maybe Ben, Timmah, and Barry Soetoro all stopped by.
heh heh heh.
Barry is too busy today, fucking up our traffic patterns down the street.
Don't feel bad. I got trashed at the highest ever today. A record for me.
My guess: the dummies don't like the message. You said, 'no one will understand'.
That's the problem, the trasher's don't get it.
I say, Don't blame the messenger if you don't like the truth told.
Wish this would appear on all MSM before next week's FOMC. Would love to here Ben try to swat it away. Good work.
Ah...well, yes. But bond holders are never wrong: 3.4% bitchez.
Sure would be fun to pass it around on Twitter and watch people freak out for 10 minutes though.
Cut & paste
You may be on to something..if only something like this could be floated to the lame stream media..may cause just enough waves to tip the boat?
...you'll need to send along a glossary of terms tho
...and a freakishly-beautiful woman with large breasts to read it outloud to everyone.
too many words for twitter. you'd have to reduce it to : Shit. Fan. Splat. Done.
And then they'd think you were talking about Charlie Sheen. It's useless.
U.S. debt? Winning!!!
Ok then, how about Google bombing?
China may revalue the Yuan this weekend as well as possibly being involved in a Greek (and maybe even a PIIGS) restructuring as well. Comments please, Tyler?!?
http://www.wallstreetexaminer.com/blogs/winter/?p=3862
Probability of China revaluaing voluntarily: 0.01%
is that up from your previous 0% chance...or am I mistaken?
Millions play the lottery everyday for far less of a chance.
Exactly is the probability trending upward?
I think China is caught in an interesting problem of its own making. By pegging its currency we export some of our inflation. We print more FRN's and they keep taking them at present value for their goods. Meanwhile, food and fuel get repriced higher. Of course, according to our economic geniuses these are two classes of products that do not count in inflation, but no one told the Chinese peasants. As you see in other articles, the peasants are protesting as their wages stay low and fuel and food rise...both thanks to a deteriorating dollar.
China can revalue or depeg the yuan and get cheaper commodities but lose export leverage or vice versa. The longer they wait the worse it will get...unless the Republicans win the budget battle and the dollar strengthens again. I love manipulated currencies and economies!
Agree.
China's laughing their asses off now watching the dollar implode.
Let's hope laughing is all they do.
As usual TD 1 - RoW 0 -
http://www.bloomberg.com/news/2011-04-21/pboc-adviser-says-yuan-one-off-revaluation-comment-taken-out-of-context.html
Greek tragedy?
How do we do the time value of money calculation backwards?
This makes too much sense Tyler so it's unbelievable. Of course if it made no sense at all it would also be unbelievable.
#Winning
"Winning the Future" WTF - worst political moniker yet.
What about "Working for the Future"? "Sacrifice for the Future" "The Bankers are our Future" "Your Future Sucks if You aren't a Banker or an Elected Politician bought by the Bankers".
HEY! When I think WTF, I think Obama! Its working.
Why the face?
"Unlike during the housing bubble S and P is no longer a reliable ratings agency"
The Berbankster
Can someone please explain the mechanics of this? How exactly does this become a liability of the US government?
Unless I am mistaken, anything the Fed takes on it's balance sheet is backed by the USG if there is a default. That would be you and me.
well, don'tcha' know. New term: "Fed Takes On Its Ballance Sheet", well in pig tradition, we'll call it "slurping".
- Ned
{OT, I hope that your reported home situation is getting better.}
No. I don't work for the government and I don't pay it's bills.
Sorry Ms, youse lot still ain't good for it ... but your natural resource base might be ... that's what is covering all this BS ... if anything.
How would the central bank get out of a very leveraged bet on the US if things go badly? Print more I guess? What would that do to US fiat value and rates? Then what will Americas central bank do? Print more? It gets kind of circular and the end game isn't obvious. Solving a political problem with a printing press is a loosing proposition IMHO...
Maybe the Fed should just buy all the US debt and chip in another 'extra' 10% so there could actually be a surplus somewhere on one part of the balance sheet. The next step would be for the Fed to hide off balance sheet all the extra borrowing (or lending or printing depending on perspective) that the Fed is doing. Problem solved and no one will notice. It worked (and still works) for big banks worldwide. Why not the Fed?
Long PM but retrospectively not enough
Buried in a routine weekly releas (it's a liability account that they owe as a result of remitting income; when they lose money, the liability becomes negative)
http://www.federalreserve.gov/releases/h41/20110106
See: it all works out!
Genius...
How come I can't do that? I would be rich sooo quickly
Those banksters can really dream up some diabolical shit, huh ?? The Fed is a bucket shop that loses big bets and never has to pay up out of its own wallet. Brilliant.
And I thought CDO's and similar instruments were cool! This is way better! Who thinks of this stuff? Do they teach this in modern financial schools? Is it legal for anyone else in industry? Can I invent stuff like this?
No, per FASB it is explicitly illegal for private companies
Pondering...well, the Federal Reserve doesn't have any taxing authority does it.
Hmmm...
Perhaps they were too smart by half in it's set up ;-)
Oh please.
IRS is a Fed agency for all practical purposes.
There was a previous ZH article about this but I'm just a lazy coon. You could probably find it -- or some more sprightly denizen here could point you to it.
It's an ass-kicker.
Ooops -- I see that FOC 1183 has gone to the well for the real skinny:
From the well, is this the zh post? http://www.zerohedge.com/article/feds-losses-start-qe2-7681415224600
Ok, you got the coon off his lazy ass. It seems that I was remembering a comment:
Archibald Holbroke
on Thu, 03/31/2011 - 18:59
#1123227
the following article appeared on "the market oracle" web site - http://www.marketoracle.co.uk/Article26444.html
Comments are in (( double brackets))
Fed New Accounting Change Means its Impossible for the Fed to go Bankrupt!
Politics / Central Banks
Feb 21, 2011 - 08:11 AM
By:
Robert_Murphy
On January 6, in the opening of its weekly H.4.1 release — which details changes to the Fed's holdings from the prior week — the
Fed announced
the following:
If the reader had the stamina to go through the entire statement above, he or she can understand why nobody thought much of it, at the time of the release. The Fed seemed to be saying that the rule change was no big deal, was perfectly consistent with the treatment given to other items, and that, if anything, it was a move promoting greater transparency of the Fed's operations.
It was not until later in the month that skeptical financial bloggers realized the implications of the rule change: the Fed was now impervious to bankruptcy, as a matter of accounting.
Bernanke Wanted to Focus on the Positive …
Here's a summary of the new situation from an
Well now, that's rather a different flavor from the Fed's original statement, isn't it? To see how the two are consistent, let's look again at the critical passages from the Fed's announcement:
The trick is that the Fed led the reader to assume that "the balance in its surplus account" would be positive. (( now this is where the rubber meets the road - a trick)) In other words, the Fed was dealing with the standard case where its assets grow over time (because of interest earnings on its bonds, etc.). That would lead the left-hand side of the balance sheet (i.e., the "Assets") to grow, and so something on the right-hand side of the balance sheet (i.e., "Liabilities and Capital") would need to grow by the same amount.
Prior to the announcement, the immediate move would be to mark up an increase on the "Assets" side with a corresponding credit to the "Capital" (or "Shareholder Equity") items on the right-hand side. But now, the Fed is saying that when its assets appreciate, it won't credit the capital accounts. ((and that would hide the fact that the new "assets" are now liabilities that do not belong in the capital account anyway)) Instead, it will make the right-hand side of the balance sheet go up by entering a new liability, titled (paraphrasing) "Earnings We Need to Send to the Treasury." ((these "earnings" cannot be sent to the Treasury if they are really liabilities in disguise, thus the Fed may need to send them but can't))
(To understand the big picture, keep in mind that after the Fed pays its bills, any excess earnings are remitted to the Treasury. As I argued in
this piece
, that mechanism means that Uncle Sam effectively pays no interest on those bonds held by the Federal Reserve.)
Denial Is Normal after a Traumatic Loss
Ah, but as Bank of America's Misra pointed out, the real fun happens when the Fed suffers losses on its assets. (( I think we get traction here)) In normal accounting, when the market value of a company's assets goes down, the firm marks down its "Assets" (left-hand side of the balance sheet) and correspondingly marks down its "Capital" by the same amount (right-hand side of the balance sheet).
The danger is that if a firm loses too much, then it might wipe out all of its capital. At that point, the firm would be insolvent, because its remaining "Assets" would be smaller than its "Liabilities." Remember the basic accounting truism: (( by definition all banks are insolvent because of the fractional reserve basis upon which they function, thus if the reserves completely disappear they have nothing at the Fed from which to cover their liabilities. So how does the FED credit them with reserves to keep them solvent? By counting losses as negative liabilities and as "assets" on its own balance sheet and giving them reserves in exchange, thus printing money against losses???))
Assets = Liabilities + Capital (or Equity)
If the company ((or country?)) suffers such large losses that its "Capital" (or "Equity") becomes negative, that is simply another way of saying that the company owes people more money (i.e., its liabilities) than it has in assets. (( man if that don't sound like Uncle Sam and the rest of the worldwide banking scam I don't know what does.)) That is the
definition of insolvency
, and unless the situation is rectified the firm will eventually default on its obligations and go bankrupt. (( I think the FED would have become bankrupt without this new accounting trick.))
((I am not sure if this is relative or not, but I thought it might merrit some consideration.))
"and unless the situation is rectified the firm will eventually default on its obligations and go bankrupt"
It is extremely relevant, and is also why this type of accounting is illegal for any private ongoing concern. We know they 'claim' the fed is private, so what does that say about deloitte's opinion of them as an ongoing concern (rhetorical)
Did you catch that? The dividend recipients (i.e., the member banks who actually "own" the 12 district banks) get their 6% vig ahead of the taxpayers. How nice....for them. At most companies I'm familiar with, the taxman takes his bite ahead of the dividend recipients.
It has always been thus.
They are monetary vampires...the economy can grow at 1% or 3%...or not at all...it doesn't matter to them, as long as it's alive.
And if I'm not mistaken, it's tax free ;-)
Seems like the government also has to reverse the process if the Fed begins losing money which will in turn create a new liability for the government. If I understand this article and comments that is what the S&P and others are worried about as the Fed is leveraged 48-1. Have I misunderstood this?
Simple. Losses are deducted from Treasury interest rebates.
First, get the terminology right: "liability management exercise."
S&P has zero credibility.
and the FED does?
pot, kettle.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRLWzHsF16lY
all part of the same criminal conspiracy.
No shit. I'm sure I'm not the first to think of it, but I gotta say it: Have the ratings agencies ever given us reason to suspect they might be open for hire?
They seem to still be serving banksters, as far as I can see.
Surprise!
http://www.imdb.com/title/tt0387575/
Up is down and down is up on the Street and in Obama's Amerika.
S&P wants to stay semi credible so it has to down grade something of the US when faced with overwhelming evidence of fiat destruction. They don't exactly have a great track record and I wonder why anyone actually pays attention to anything they say? I guess AAA obligated holders are stuck to listening to them. What a racket.
The scary part is S&P NEVER downgrades anything till after the fact. Glaring example is Enron, which S&P maintained a 'strong buy' rating on until it was under $1. Thats a fact.
So....S&P turns in a negative score on US debt, just tells me its already totaly failed.
I'm a bit more of an optimist IF the US could get its' political act straight... Some would then say I'm therefore by definition a pessimist!
One thing that seems to be overlooked is the huge military advantage the US still has over everyone else and the deep distrust many countries around the world have of each other. That alone will keep the US more dominant IMO then most guess right now.
I'm still long the US dollar at these prices but hedged with a lot of non US assets. Everytime I listen to comments out of Congress and the White House I question my long US$ (at these prices) bias though.
What about Moody's?
They are always behind the curve so by the time they actually downgrade,we will all be drying meat on freeways and climbing vines on the sears tower.
You expect the docile masses to understand this!? Yes, you've spelt it out clearly and concisely...
... but have you seen the average American? You'll need to resort to crayon drawings and clapping noises i'm afraid, and then i still don't think it'll sink in.
The only thing the Neandersheeple masses will understand is when a boot is stomping their skull. Then theyll get it for .01 seconds.
I call 'dibs' on their flat screens.
Sheepdog, my guess of your true identity: Michael Frank, discoverer of the Neandersheeple gene:
http://www.courant.com/health/connecticut/hc-weir-advice-0420-20110420,0...
:D
Wow, so that's why Cramer is still on the air.
Who is the s&p again? Wipeout is on tonight.
What channel is S&P on?
1330
deleted duplicate
Real Housewives of the S&P..
Its on CNBS.
The the unknown number of Fed issued derivatives are figured into this analysis?
OT but guess who is/was apparently a 'strong candidate' to become the IMF's next MD?
Gordon 'No return to boom and Bust'&'I sold all the nation's Gold at the bottom of the market' Brown.
http://www.guardian.co.uk/politics/2011/apr/19/gordon-brown-not-most-appropriate-imf-cameron
For as much of an idiot Cameron is and the Tories in general are, I can't believe people are strongly in favour of that utter fucking idiot Brown taking the post. Not that an utter fucking idiot in charge of the IMF would be breaking a trend.
I just needed to vent after seeing that article, this is preposterous. As preposterous as Blair being made ME 'Peace envoy'. It is like someone is doing this on purpose simply to be amused by people's angry reactions. No sorry..not angry, most British people are reality T.V. watching idiots. They don't care.
I have been thinking it will Ben B. or Tim T. We will see. ( you have all heard the term 'being kicked upstairs'.
Just let me know the date and time of the collapse...Anybody want to put a date in writing? How about 9/11/2011?
British people don't care because they are too busy going 100% full retard over the wedding of a benefits cheat and Kate Middleton next week. Yes, that is by far the most important thing for these morons.
That's as good as any, 10th anniversary of the opening of this wonderful 'century of change' they have prepared for us..
March 21, 2011 - 3:56 pm
Obummer:
My fellow Americans, its a sad day today as the Chineese have started forclosure proceedings on the White House. I think this highly unfair as our fico score is still a solid -1433. Our S&P and Moody's ratings are AAAAAAAAAAAAAAAA++++++++++++ so I don't see why the Chineese would not trust us to continue to pay our obligations in US dollars. Not to worry though as we do have some silverware and golden spitoons that can bribe them with. I'm sure we can negotiate from a position of power. Good night.
There's some interest in Comet Elenin around that date. It's been the subject of some recent conspiracy theories and who doesn't love a good conspiracy theory?
S&P futures (all futures) way up AH's...looks either like the potential to take out years highs on the open or open right there. Will this be a massive head fake and dive or next mega leg in hyperinflation???
If we go through to the upside I think we will have entered into hyperinflation land...dollar will have taken out all near term lows in DXY. Move to gold, silver, oil could go from fast to runaway?
OR
This is the big turning point on good results and euro crap plus Yuan revalue (rumor good enough) are the rationale to buy cheap dollar and sell all else. Market craps out and pulls down commodity complex???
Thoughts?
BTW - gotta believe Gross is getting hammered bout now??? Is he out of the "circle of trust" or what?
Hell Im not even bothering to try to guess anymore, any scenario is just as likely as any other. WTF.
That's what TPTB call a "win-win" situation.
Trying to keep my head above water..not enough left to really prepare. Im just gonna sit back,crack open a Lonestar and watch this mofo go down in flames. I enjoy the guessing game,but Im sure in the end it will be something unexpected..a little dab of inflation a little dab of deflation and a whole lotta war....Bitches.
Gross is someone's bitch...you can bet on that. And he'll do what he is told to do. Do you really believe the Buffet's and Gross's are wizards of investing? They sold their souls. They are bitches to their pimp...whoever the fuck that is.
The Federal Reserve is filled with 'tards, morons, and mouth breathers right?
Shouldn't they be extinct by now or at least White Fossilized dog crap on the lawn.
You should be able to pick them up neatly with Chop Sticks and put them away.
Matt Taibbi on a Government "Shadow Budget" that benefits Wall Street
https://www.youtube.com/watch?v=j5Qkbk76-QY&feature=player_embedded#at=23
I just don't know how the rating agencies even have credibility any longer. I am shocked these institutions even exist.
Seriously...this is the same S&P that smacked AAAAAAA++++++ on my shit.
It should be noted that S&P has affirmed it's AAA on America even though America has already defaulted (yes, printing money to pay your debt is a form of default)
Yes the final act of all failed empires is mad printing of their own failed currency. It is ALREADY default, just no one has admitted it yet.
The Federal Reserve intends to handle said losses via a ‘negative liability’ account, which makes them the liability of the United States of America. ...
well of course they are.......
sounds like taxation without representation to me
I was discussing this on a local website the other day, and someone said: 'how can you attack the Fed? Don't you have a 401k?'. Sheeple
Funny part is THEY soon wont have a 401K either after Bernanke rolls them all into the Treasury for 'safe keeping', and theyll never see it again.
Correct.
That's when you tell them it contains only CEF and some miners.
Benron not required.
Secured-farmed land; stored food; secured water; guns/ammo; "junk" silver; marketable skills; fruit trees; US nickles; alternative energy...Am I missing something?
missing something?
Yes, blondes. With McBags.
toilet paper, vodka and cigarettes....you fool!
Why do people still confuse 'the Market' with the Fed?
I'm buying TZA on Friday close. Just for shits and giggles.
Thinking somewhere in the 33 area.
Hey, where's the CME margin increase? Late tomorrow?
Gas to $6, S&P to 15,000 by September!
Likely, I dont see any way around a summer of $5 $6 gas and double food prices we're seeing now. Just that alone and this country is total chaos.
But it will be blamed on conservatives and not caring enough in some twisted way. Congress will agree to spend yet more to save us from this. More regulations will work, too.
Let the market decide
What a country! Only in America can the poorest boy and girl become millionaires without working! And anyone with a salary will be a billionaire. We'll all be rich.
Aerial bombing of S&P's head quarters would commence shortly after such a press release.
+1
do molotov cocktails qualify as air bombing?
Time to end the motherfucking fed and reform the treasury.
Based on stock market returns, Obama is the greatest president that ever lived. Can't argue with the market.
Of course it was a non-event. When you can print your way out of any shortfall, it is impossible to get in a position of default. It was an orchestrate sideshow. WTF did anyone think was going to happen?
I am so TOTALLY fed up paying 132p/L for petrol to get some food that is going up in price every week and pay even more council tax and massive increases in water and heating bills..
where is my wage increase? I can't pay the taxes to pay the taxes to pay the taxes so I can buy food to eat
Bernanke is going to go down in history as THE most EVIL mass killer ever
You're a slave and will remain a slave until you do something about it. The enemy is clearly identifiable, what you waiting for?
I do not buy anything in the supermarket that are processed foods.. they are marked up madness... I make sure I only buy at the best price.
Will that stop the banksters robbing and looting?
There was a big demonstration about the Iraq invasion... it went ahead and was an illegal war against the wishes of the people.... how can you stop people in power by legal means when they ignore the people and then use force to contain the protests?
People will have to mass riot to overthrow this madness of corruption
This is all getting so old, yet we will probably be here a year from now wondering when our "core" will melt down. Have 0 interest in this market outside of miners, gold, silver. What a disaster I see. And shorts get burned on a regular basis. Still fighting the Head Inmate.
Yep...getting burned, I am. However, what else is there for an honest man to do? Buy Chipotle at an all time high.
Speaking of Chipotle, and since I comment constantly on the criminal syndicate known as Wall Street, on CMG a market cap crime spree has been perfected. After two quarters that were sold off, complete with Getco eske churn support lifting the shares through all sellers, the company announces...wait for it...$44 million in profit [5% margin] on a now $9 billion dollar market cap. And as the sellers came in...it is announced that Chipotle is being added to the S&P...the announcement coming literally at the low of the AH session.
Fraudstreet is really shining on this one. After a pump scheme of epic proportion, complete with the idiot Cramer pumping it all the way, just when the laughable fundamentals peek through...the criminal syndicate known as Wall Street prepares to dump the shares into Average Joe's 401k account...what's left of it.
Tyler...this one really deserves the full spotlight Tyler treatment. Simply unbelievable the lengths to which the criminal syndicate known as Wall Street will go.
Tom O'Brien, who has been a bear for 9 months running now...
He's now doing his podcasts on Internet TV.
He's visibly squirming after AAPL reported, as he's been shorting the whole way up, and he was ultra confident of a market collapse based on an AAPL miss.
Every up day is a "failure". Every down day is a "crash" heading back to SPX 825.
http://www.tfnn.com/hour01.html
Why don't you enlighten us with some of your entry and exit points on a stock BEFORE it happens rather than after the fact. No doubt many would see your input as a valuable public service given your supposedly stellar trading record.
So lay it out...in advance...Not in hindsight for a change.
The magic word here is "opinion".
C I L L
...cill my lan lord, cill my lan lord.
This has been a message from Mr. Rob Mi Son's neighborhood.
March 13 2008
Reserve balances with Federal Reserve Banks
7,274
April 14 2011
Reserve balances with Federal Reserve Banks
1,522,262
They got it covered.
http://research.stlouisfed.org/fred2/series/WRESBAL
Duplicate
Not that it matters but...$DXY just broke below the December 2009 low...now it's nothing but air til we hit about 71.75.
No doubt the market will cheer as the population writhes in pain from the inflation that does not, according to the Chairsatan, exist.
Rally on retards. And save a few bucks from your BIDU long winnings for grandma...she'll be eating cat food soon.
it's great for all our 'Merkin exports...
Our main exports now are Debt, Death and War. I think the world would be happy to see our exports decline...So would I.
No one ever wants to give a global hegemonic empire a freekin' break.
Pretty amazing. Just wait for the fall. It will be epic.
Oil $112, $DXY 74.086 (new low...and falling)
Needless to say, at the rate the dollar is falling, Silver should hit $46 before the end of the Nuggets game. A mere 17 cents to go...
Looks like they're defending 74.35. How I can't imagine. Pulling back liquidity isn't an option.
Keep an eye on this folks. This thing could unzip pretty fast.
assuming this is "a draft fake" I would suggest to the person that drafted it that they not do anything like this again or in the alternatice discuss it with thier counsel first. I am not a lawyer however.
question. what is the minimum amount of time that is
required to go from being flat ass bankrupt, in systemic
need of a bailout shadow or otherwise, to then miraculously
becoming a veritable bond vigilante? can this metamorphosis
take place overnight or are longer periods of time required?
i would like to know.
DXY to 70? Your president will be able to boast raising a trillion greenback toilet paper dollars for his re-election campaign. The masses suffering from inflation? There is no inflatiopn in the US (not if you are tenured professor with defined benefits for the rest of your long life ahead). Plus, euro/dollar at 1.60 and Schumer promised us plenty of jobs - that's the Fed's second mandate - and if the jobs are not forthcoming, it means yiu are not printing enough, got it? Now back to silver watching.
S n' P downgrade is a big deal... a false flag attack in which the globalists will prove hype... power lies not with government printers... power lies not with S n' P downgrades... power is sexy yall and just a biiiiiiit beyond your reach
.
mad envy
"The Federal Reserve intends to handle said losses via a ‘negative liability’ account, which makes them the liability of the United States of America".
Hey...Americans...!!!
Are you's not tired of living on your knees yet.???
"The Federal Reserve intends to handle said losses via a ‘negative liability’ account, which makes them the liability of the United States of America".
Hey...Americans...!!!
Are you's not tired of living on your knees yet.???