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Time For Obama To Ban Budget Deficit Next: $118 Billion In Coupons On Deck, $166 Billion Including Bills
If only it were as easy to ban the budget deficit. We have $118 billion in coupons on deck to be auctioned off on February 1. Out of curiosity, does the prop trading ban also make quantitative trading, aka the Fed's prop trading operation, also illegal?
There is also another $48 billion in Bills:
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To satisfy your penchant for curiosity, I'll give the the short answer: NO.
The Federal Reserve's prop trading operation is beyond the perview of Congressional mandate for the simple reason that that a Fed Reserve prop desk operation does not exist.
Wink, wink.
Nudge, nudge.
They're short $2Trillion per year...ahem, per year. They don't have $2Trillion they could cut unless defence shrinks to the size of Canada's or Belgium's. Ben, we need more oil for those printing presses as we're not allowed to borrow anymore.
"Ben, we need more oil for those printing presses as we're not allowed to borrow anymore"
LMAO that's the reason behind the oil wars - the oil's for the printing presses, not cars, dummies
It was funny in the way that makes you vomit listening to the debate on whether to raise the limit this morning.
The Fed is above the law. Or outside the law. Or something.
"Give me control over a nations currency, and I care not who makes its laws" -- Baron M.A. Rothschild, same guy who helped create the central banking system used today.
So the 13 and 26 week are not going on 1/25 but on 2/1? The 2 year and 4 year are not on 1/26 but 2/1? 5 year from 1/27 to 2/1? and 7 year from 1/28 to 2/1? I was just perusing the schedule on their website last night. Do things get moved around on a regular basis?
I forsee auctions with bid to covers of 9.00 and interest rates 0.00000001%.
Why not.
Why even bother.
Obama decision will lead to
1) run on banks as you won't have protection anymore coming from Uncle Sam
2) huge dollar sell-off as Canadian and some other banks might become much safer
3) the mother of all quantitative easing down the road to just keep the economy afloat
Jimmy Carter did it one quarter. They came in
with a surplus one quarter because they had
overshot their printing by a smidgeon.
Actually it is time for :
TAX STRUCTURE CHANGE
Consumption tax only.....no individual/corp.taxes....
...............................
This should be next ....
Why ?
The current policies demand more from less....and are attempting to pick more fruit while cutting down trees....
Replacing the economy is all about the sustainability of the tax base....
This means competing head on with BRIC....
And enhancing the STOCK EXCHANGE to RETAIL participation as being the number one priority....not the BlackRock firms....
And by the way....how would one feel tomorrow knowing that they would never pay individual/corporate taxes again ????
Do not underestimate this underlying power....
THIS combined with a far more efficient defragmented exchange slanted toward retail....
WILL SEND THE US TOWARDS THE NEXT GOLDEN AGE
........................................
There needs to be reformed study showing that the business and tax base created by these changes will dwarf the needed tax takes....while freeing up individuals and the economies....
The total valuations will dwarf the top debt and equity cumulative numbers of the past....
NEXT ????
News flash Anon - Not gonna happen. It's too easy to steal from you directly than to let you, as a peon, have control over your tax burden directly. Not to mention J6P is recoiling as we speak trying to save a dime => he's not buying squat.
"Out of curiosity, does the prop trading ban also make quantitative trading, aka the Fed's prop trading operation, also illegal?"
I don't know......wil the new ban reach to Bermuda?????