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End the Federal Reserve


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2022 Jul 5, 1:40pm   45,457 views  377 comments

by Patrick   ➕follow (61)   💰tip   ignore  

https://rudy.substack.com/p/qt-stands-for-they-lie



It seems that Fed employees know how to get rich betraying the public.

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211   HeadSet   2024 Mar 6, 12:27pm  

UkraineIsFucked says

Good news: Your mortgage, car loan and credit card lenders will be equally fucked, entirely or mostly. Debt jubilee, kiddies!

Not at all. CBDC will not be a new currency, just a holding device for good old fiat dollars. It will start with anyone who receives government checks to receive them in a digital wallet. That includes all federal employees, retiree, and SS recipients. Since most Americans will thus acquire a digital wallet, private entities will start using them for payments. Corporations will have them, too. Now every person and entity in the country is a slave to whoever can shut down one's digital wallet. However, there will be cutouts so the drug cartels can get paid without being tracked.
212   DOGEWontAmountToShit   2024 Mar 6, 12:30pm  

HeadSet says


Not at all. CBDC will not be a new currency, just a holding device for good old fiat dollars. It will start with anyone who receives government checks to receive them in a digital wallet. That includes all federal employees, retiree, and SS recipients. Since most Americans will thus acquire a digital wallet, private entities will start using them for payments. Corporations will have them, too. Now every person and entity in the country is a slave to whoever can shut down one's digital wallet. However, there will be cutouts so the drug cartels can get paid without being tracked.


That may very well be how they roll it out. In fact, most likely. But you are ignoring the Great Reset aspects to all this.

Anyway, that is just my take on this. Most likley: they'll fuck it all up.
213   HeadSet   2024 Mar 6, 1:04pm  

UkraineIsTotallyFucked says

But you are ignoring the Great Reset aspects to all this.

The easiest and time proven way to get a Reset on unpayable government debt is hyperinflation. Hyperinflation will destroy a person's mortgage debt but make up for it with unpayable high taxes.
214   GNL   2024 Mar 6, 7:34pm  

So, what's the 100% winning hand?
215   Eman   2024 Mar 6, 8:06pm  

NuttBoxer says

If you don't understand how bad inflation is already, go out and get a minimum wage job in any state, and live on that. Used to be possible...

Came across this and it reminded me of “Married with Children” episodes. 😂
216   Patrick   2024 Mar 6, 8:11pm  

Close up for the memes:


217   fdhfoiehfeoi   2024 Mar 7, 7:08am  

AD says

perhaps Bitcoin (BTC) has unwittingly become the more modern digital "25 cent silver piece" and hedge to the fiat currency system ?


No. It's highly volatile, easily stolen, easily manipulated. Real money requires that it be counterfeit proof, increase at a gradual, predictable pace, and be physical and easily divisible.
219   DOGEWontAmountToShit   2024 Mar 13, 11:47am  

Patrick says






Lot of ignorance going on.

There isn't 27 trillion dollars in circulation.
220   HeadSet   2024 Mar 13, 3:46pm  

UkraineIsTotallyFucked says

There isn't 27 trillion dollars in circulation.

Maybe he is talking about Zimbabwe.
221   Patrick   2024 Mar 13, 3:57pm  

True, there are not 27 trillion dollars in physical US currency in circulation:

https://www.visualcapitalist.com/many-u-s-dollar-bills-circulation/


In total, there is a total of about $1.5 trillion in U.S. physical currency in circulation, and roughly 80% of this value comes from the 11.5 billion $100 notes that are in circulation.


On the other hand, the value of all US dollar denominated assets is much larger than 27 trillion, per gab.ai:


What is the value of all US dollar denominated assets?

As of March 13, 2024, the total value of all US dollar denominated assets is difficult to determine precisely, as it fluctuates constantly due to market conditions and other factors. However, according to the US Federal Reserve's Flow of Funds report, the total value of US financial assets (which includes cash, bank deposits, stocks, bonds, and more) was approximately $145 trillion at the end of Q3 2021. This number does not include real estate, gold, or other non-financial assets, so the overall value of all US dollar assets would be even higher.
222   fdhfoiehfeoi   2024 Mar 14, 7:00am  

Are you guys really assuming that figure was physical paper? How would that make any sense as a measure of a fiat currency? It's a digital measurement.

And 1.5 in circulation for 27 trillion claimed is 5%, that's WAY higher than what banks are required to have on hand.

UkraineIsTotallyFucked says

Lot of ignorance going on.


Yes!
223   DOGEWontAmountToShit   2024 Mar 14, 9:49am  

Patrick says

US dollar denominated assets


Dollar denominated assets are not dollars and more than construction plans measured in metric are actual centimeters and grams.
224   DOGEWontAmountToShit   2024 Mar 14, 9:51am  

NuttBoxer says

Are you guys really assuming that figure was physical paper?


No. Only you are assuming what we are assuming.NuttBoxer says

And 1.5 in circulation for 27 trillion claimed is 5%, that's WAY higher than what banks are required to have on hand.


So?

Still doesn't prove there are 27 trillion of them in circulation.
226   Patrick   2024 Mar 14, 12:13pm  




All valid, but real physical silver as currency would be better.
227   DOGEWontAmountToShit   2024 Mar 14, 8:53pm  

Patrick says





All valid, but real physical silver as currency would be better.


As long as transactions can be traced via the blockchain ledger, all that is bullshit.

https://crypto.news/learn/blockchain-forensics-how-authorities-track-crypto-transactions/

True crypto would provide untraceable transactions. Would that mean kiddie porn scum, human traffickers and drug smugglers get away with their shit?

YES

Freedom isn't fucking free kiddies. Sorry to break it to you. I don't like it either. But anything worth having has a price.
228   fdhfoiehfeoi   2024 Mar 15, 9:48am  

UkraineIsTotallyFucked says

NuttBoxer says

Are you guys really assuming that figure was physical paper?

No. Only you are assuming what we are assuming

UkraineIsTotallyFucked says

Still doesn't prove there are 27 trillion of them in circulation.


What the fuck!? "them". After you say I'm assuming, you refuse to assign a value to very obvious const variable you've declared. Why? Just admit you fucked up. We all do. But it seems like some sort of disease lately, that people want to try and appear infallible. Go ahead and search, you will find plenty of examples on here where I'm wrong about something, and I ADMIT IT.

I don't mind being wrong, I do mind being blind...
229   fdhfoiehfeoi   2024 Mar 15, 9:52am  

UkraineIsTotallyFucked says


Would that mean kiddie porn scum, human traffickers and drug smugglers get away with their shit?

YES


NO. You not stopping those people allows them to get away with it. Their customers allow them to get away with it. The transaction medium is irrelevant to the morality of the intent.
230   DOGEWontAmountToShit   2024 Mar 15, 9:54am  

NuttBoxer says


After you say I'm assuming


Uhm. Because you were:


NuttBoxer says


Are you guys really assuming that figure was physical paper?


No. Only you are assuming what we are assuming.


NuttBoxer says


you refuse to assign a value to very obvious const variable you've declared


What value?

$27 trillion in financial instruments does not equate to 27 trillion dollars in existence.

I didn't fuck up. I am not sure what you are doing, tho.
231   richwicks   2024 Mar 15, 9:57am  

NuttBoxer says

NO. You not stopping those people allows them to get away with it.


The US government allowed Jeffrey Epstein to run a child rape ring for years.

They're not even trying to stop it, they're trying to monopolize it. They're criminals.

There are people right now that make honey traps for child sexual predators, arrange a meetup, and the police do nothing once the person is located and found. Recently, some groups have taken more serious action, like beating the perpetrator to a pulp instead of just recording them.
232   AD   2024 Mar 15, 3:58pm  

richwicks says

NuttBoxer says

NO. You not stopping those people allows them to get away with it.

The US government allowed Jeffrey Epstein to run a child rape ring for years.

They're not even trying to stop it, they're trying to monopolize it. They're criminals.

There are people right now that make honey traps for child sexual predators, arrange a meetup, and the police do nothing once the person is located and found. Recently, some groups have taken more serious action, like beating the perpetrator to a pulp instead of just recording them.


I wish they could do these type of stings for the Mexican cartel types who are pushing fentanyl. It would be just more medieval.

.
233   Onvacation   2024 Mar 15, 4:33pm  

Patrick says

All valid, but real physical silver as currency would be better.

yep.

If you don't hold it, you don't own it.
235   AD   2024 Mar 16, 12:20pm  

Onvacation says

Patrick says

All valid, but real physical silver as currency would be better.

yep.

If you don't hold it, you don't own it.


whats are the implications for those who own Silver Trust (ticker: SLV) ?

.
236   DOGEWontAmountToShit   2024 Mar 19, 2:57pm  

HeadSet says

The easiest and time proven way to get a Reset on unpayable government debt is hyperinflation. Hyperinflation will destroy a person's mortgage debt but make up for it with unpayable high taxes.



237   richwicks   2024 Mar 19, 3:55pm  

AD says

whats are the implications for those who own Silver Trust (ticker: SLV) ?


SLV is used to buy options to suppress the price if the material.

If every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year. It would break everything.
238   fdhfoiehfeoi   2024 Mar 20, 8:32am  

AD says

whats are the implications for those who own Silver Trust (ticker: SLV) ?


Onvacation says

If you don't hold it, you don't own it.
239   DOGEWontAmountToShit   2024 Mar 20, 5:36pm  

UkraineIsTotallyFucked says

Rate cut? (I don't think so unless maybe jobless numbers radically rise but others here think Powell is Biden's butt boy...)



240   Misc   2024 Mar 20, 10:24pm  

For those that have been paying attention to my ramblings, the Fed is gonna reduce then eliminate QT over the next 5 months or so. They are running up against a hard limit as to how far they can reduce their balance sheet.

The market will perceive this as a rate cut. Then the Fed will start to cut the rate itself.

The Fed/Federal government has to prop up capital gains so that taxes flow freely into the Blue State coffers. If they don't some state/city checks are gonna start bouncing.
241   DOGEWontAmountToShit   2024 Mar 20, 10:46pm  

Misc says

The market will perceive this as a rate cut


Copium thinking.
242   AD   2024 Mar 20, 11:09pm  

Misc says

For those that have been paying attention to my ramblings, the Fed is gonna reduce then eliminate QT over the next 5 months or so. They are running up against a hard limit as to how far they can reduce their balance sheet.

The market will perceive this as a rate cut. Then the Fed will start to cut the rate itself.

The Fed/Federal government has to prop up capital gains so that taxes flow freely into the Blue State coffers. If they don't some state/city checks are gonna start bouncing.


Yeah, California's 2024 budget is $292 billion with a $73 billion deficit.

So the S&P 500 will have another great year in 2024 just it went up about 26% in 2023 ? The problem will this is that the capital gains tax likely will be paid in early 2025 after California's deficit year of 2024.

And that means California having to borrow (if allowed by state law) at a rate of at least 5% even for short duration like 1 or 3 years ?

https://calmatters.org/politics/capitol/2024/02/california-budget-deficit-balloons/

.
243   Misc   2024 Mar 20, 11:17pm  

The folks who get the big gains are going to file their Quarterlies, just like they always do.
244   AD   2024 Mar 20, 11:21pm  

.

That is why I was trying to explain to Eman when he was overly promoting California, or at least his zip code or county.

California likely will see another round of tax increases to help cover for that $73 billion deficit (for a budget of $292 billion), which may ultimately depress real estate values.

.
245   AD   2024 Mar 20, 11:23pm  

Misc says


The folks who get the big gains are going to file their Quarterlies, just like they always do.


Okay, I understand as they pay their income taxes "in advance" throughout the year instead of a couple of months after the tax year is over. I suspect this is the +$20 million net worth households.

I wonder if there will be a major exodus if California raises taxes this year or next year, as far as those folks who file their quarterlies, such as they go to Nevada.
.
246   Misc   2024 Mar 20, 11:24pm  

I'm still betting they will stuff California pensions with State IOUs, while selling off anything they can for cash today.
247   AD   2024 Mar 20, 11:28pm  

Misc says


I'm still betting they will stuff California pensions with State IOUs, while selling off anything they can for cash today.


What can they sell off ? what state owned property ? I'm not sure how much they can borrow or finance through bonds.

yeah, I can see they "borrow" from CALPERS using that scheme

I was hoping Mish of MishTalk would have mentioned this on Coast to Coast AM tonight, because of the significance of this for the size of California's economy.

George Noory the host of the show lives in California.

.
248   DOGEWontAmountToShit   2024 Mar 21, 8:50am  

AD says


What can they sell off ? what state owned property ? I'm not sure how much they can borrow or finance through bonds.


They do what they have done before: issue IOUs. Banks buy them up. It should be unconstitutional because states aren't allowed to issue money.

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