Say whaaat? Federal Reserve Currency Swaps? The swaps are important: the swaps are socialism for the financial sector. The swaps work something like this. During times of financial stress, banks which lend to each other overnight and for other short
Continue reading…Federal Reserve Currency Swaps: Socialism for the Financial Sector
As the world hurtles towards fascism, anarchy and war, many may feel helpless in the face of the powerful and broad forces which move us to our assumed demise. But we need not feel helpless, we, each individual within that
Following this and the next paragraph are two quotes from Tolstoy’s book “The Kingdom of God is within you”. Tolstoy fought in the Crimean War during the 1850’s. He was recognized for his courage and rose to the rank of
Continue reading…Leo Tolstoy: Christian, Pacifist, Anarchist
In light of the current debate in Congress over additional fiscal support for workers and the broader economy, and the debate this has sparked over Federal debt levels, it is important to have a clear understanding of Federal debt issues.
INSANITY The whole crazy system needs to be reconstructed. Recently, across the nation, there have been reports that people are blowing-up the sky with fireworks in anticipation of the 4th of July holiday. It’s become a real problem in some
The Nation is entering a dangerous period. On the Left, there is growing militancy with perhaps a small armed faction; on the Right, there has been a decades long development of well armed militias which historically had been mostly anti-government,
Federal Government spending during the current health crisis has alarmed many analysts and the broader public. While the U.S. as a sovereign power with its own free floating currency has unlimited capacity to spend, there are, of course, practical limitations
A deeply understood, but not enough talked-about aspect of Federal borrowing, is that the Federal government need not pay interest on its debt. Current law requires the Treasury Department to auction debt in the public market. The Federal Reserve (FED),
Modern Monetary Theory puts forth the idea that the Federal Government can engage in highly expansionary fiscal policy without inflationary consequences so long as the additional money is directed in an appropriate manner, there are no significant supply constraints, and
Continue reading…Modern Monetary Theory and Increased Federal Spending
At some point during this health crisis the financial class will likely begin its campaign against further Federal fiscal expansion, at least that portion directed towards the working class. They will wrap this argument in the language that heavy federal
