patrick.net

The Fed bought $4.6 trillion worth of securities during its QE4 program starting in 2020. This was added to its prior $3.7 trillion of purchases. If the securities could be sold at today's prices (and if they tried to sell a significant amount it would drive down prices further) you would end up with a negative value of more than $1 trillion.

In one year, poof over $9 trillion was lost by unelected bureaucrats with no Congressional oversight. Don't expect anyone to be fired.

Blacks comprise about 43 million of the 330 million US population. That loss would be about $209000 per Black citizen (including children). That is not just for California, but for the US as a whole. Sure the Blacks would spend it on Ho's and blow, but the bankers just kinda wasted it.

I cannot do anything but make fun of our economic system.

https://www.mercatus.org/research/policy-briefs/federal-reserves-balance-sheet-costs-taxpayers

California wasn't even part of the USA when slavery was a thing. Most people don't even now this.

The miseducation of America is destroying the Republic.

The Berkeley Unified School District is also weighing a proposal to give Black students reparations for slavery, according to the San Francisco Chronicle. The school district will assemble a committee to recommend a course of action to the school board. The committee will likely recommend cash payments.

“We believe this is a critical conversation for school districts to have at this moment as educators look to better address the opportunity gap of Black students,” Berkeley school district spokeswoman Trish McDermott told the San Francisco Chronicle.

Anywhere the Blacks are in charge of a taxing authority, expect cash Reparation payments ---- Beechez ! ! !

Misc says

I cannot do anything but make fun of our economic system.

It's a complete fraudulent joke.

What a joke

You guys remember when the USA was re-elected worldwide ? I miss those days

ElYorsh says

California wasn't even part of the USA when slavery was a thing. Most people don't even now this.

The miseducation of America is destroying the Republic.

California entered the Union on September 9, 1850. The end of slavery was the passage of the 13th amendment, on December 6, 1865.

But California was never technically a slave state.

Ok. 15 years that could have been a part of... But the state did declare itself free of slavery when it joined the USA.

ElYorsh says

Ok. 15 years that could have been a part of... But the state did declare itself free of slavery when it joined the USA.

Yes, you're correct. I'm not trying to jump down your throat, just correcting you.

California was never TECHNICALLY a slave state, but in reality, they had slavery. Chinese men that worked on the rail roads, they were all but slaves.

Slavery is a lot more complicated than what we are told. When slavery was forcibly (and suddenly) ended in the south, plantations had been destroyed. The slave owners were often dead or just destitute themselves, and they couldn't provide for the black men under their care - and nobody would hire these former slaves, so they just starved to death. I've heard MILLIONS perished.

I'm not defending the institution of slavery, but it wasn't just vicious slave owners that beat their "property" and murdered them for fun and sport which is the narrative I grew up with. Slave owners more often than not, cared for their slaves, just like a farmer cares for their animals, and I realize that's an uncomfortable comparison to make, but it's the closest one I can think of. Farmers aren't particularly happy with killing a chicken or a cow, but they aren't particularly uncomfortable with it either - quick and painless death and it "has to be done". There's a level of detachment, but it's not entirely detached.

Cool. I wasn't trying to argue with you. Just pointing to the fact that MOST people think that California was always a part of the slave / master trade for being a USA state.

ElYorsh says

Cool. I wasn't trying to argue with you. Just pointing to the fact that MOST people think that California was always a part of the slave / master trade for being a USA state.

Most people think that the civil war in the United States was about preserving the institution of slavery in the South. It wasn't. It was ONLY about preserving taxation on the South for the goods they produced and exported.

The South was offered the opportunity to permanently have slavery in their respective states. This was the Crittenden Compromise:

https://en.wikipedia.org/wiki/Crittenden_Compromise

It is our (thankfully) failed 13th amendment. It would have permanently made slavery legal in the states that had it, and it part of the amendment was that it could NEVER be withdrawn, even by a new Constitutional amendment. The South refused to sign it because the war wasn't about slavery, it was about taxation. Slavery was part of the economy of course, but that was not their objection. It was about what they believed to be unfair taxation, and it was up to 80% on exported goods like cotton. Banks made enormous sums doing this, and the northern states were quite a bit in debt at the time, especially the cities.

Abraham Lincoln was a despicable tyrant and would be considered a horrific racist by today's standards. He believed in the abolition of slavery not because he thought the negro was equivalent to the white man, but because he didn't believe negroes should live among white men, he did not believe that the races should commingle in any way at all. His plan was to ship them off to Panama to make the Panama Canal, and to export them to Libera. Negroes were given $100 to expatriate to Liberia in gold. That's 5 ounces of gold, or about $10,000 today.

We are all taught false history. Unlearning it is a task.

BTW - there WERE abolitionists that objected to the institution of slavery, and did believe the negro was just as human and entirely equivalent to the white man. Several notable people proved that to be true, Frederick Douglass for example. He was a well educated, and impressive man and intellect. He was around 20 when he escaped his slavery in 1838. You have to wonder what he could have become if he was not in slavery for the first two decades of his life.

richwicks says

It is our (thankfully) failed 13th amendment. It would have permanently made slavery legal in the states that had it, and it part of the amendment was that it could NEVER be withdrawn, even by a new Constitutional amendment. The South refused to sign it because the war wasn't about slavery, it was about taxation. Slavery was part of the economy of course, but that was not their objection. It was about what they believed to be unfair taxation, and it was up to 80% on exported goods like cotton. Banks made enormous sums doing this, and the northern states were quite a bit in debt at the time, especially the cities.

If it wasn't for tariffs, we would have been like Mexico or Guatemala. The rich export raw materials, fight any industrialization or value added production, and import everything value-added from abroad.

During the South Carolina Succession crisis, other Southern states snickered as they considered the tariff to be small potatoes.

Were there ever any Black slaves in California? Some came in from other states during the Gold Rush years, but California was never a Slave state.

https://en.wikipedia.org/wiki/History_of_slavery_in_California

The Enslavement of Indigenous Peoples by the Spanish In California is well documented. Those Missions didn't build themselves!

California needs to be Anglo-Saxonized, starting with the bizarre and alien Castellano-Conquistador Iberian water ownership laws.

rocketjoe79 says

The Enslavement of Indigenous Peoples by the Spanish In California is well documented. Those Missions didn't build themselves!

Were those before 1850? You did say it was the Spanish who enslaved the indigenous peoples, correct?

I wonder if this is all really just the first volley in the effort to take peoples homes. That the only way in hell they can get anywhere at all on this…seize property from the wealthy and parcel it out as reparations.

The jackasses already created a false situation and let homelessness go unchecked in an effort to force the federal government to start providing more public housing. This could be a logical next effort.

Detroit with a 78% Black population is gonna see how much they can get in Reparations.

https://www.msn.com/en-us/news/us/a-majority-of-detroit-wants-reparations-for-black-residents-what-happens-next/ar-AA19ASsJ?ocid=msedgdhp&pc=U531&cvid=b2f4b1510f544f1285cd8558f8536956&ei=22

Misc says

Detroit with a 78% Black population is gonna see how much they can get in Reparations.

LOL! Probably the other 22 percent are mostly various immigrants with nowhere else to go. Those tax coffers are going to be quite the echo chambers with them plundering each other.

Rich liberal college kids want to use University endowments for Reparations.

Obama's public Presidential Library harmed Black residents by pushing up the rents. Yep, it made the are nicer.

https://www.msn.com/en-us/news/us/chicago-university-activists-launch-reparations-campaign-calling-for-1b/ar-AA19Bwn5?ocid=hpmsn&cvid=ec1605c9e7b749ef82f11d8bac530561&ei=16

Reparations is just an empty promise to keep Blacks voting Dem for the next decade in the hope the Blacks will get a payday. That is why the level of reparations is at the ridiculous amount of $5million plus a free house, etc. With such a jackpot, even if unlikely, why not vote Dem just in case? Just like how lottery tickets sell better when the prize hits in the hundred million level - abysmal chance of winning, but a ticket to get in the game.

HeadSet says

Reparations is just an empty promise to keep Blacks voting Dem for the next decade

It appeals to the Dindu ghetto fantasies of plundering whitey and the Guv. If the Black voters fall for it, they have them pegged. Soros brags about it. Dem plantation politics, it's not a compliment. It presumes gullibility, idiocy and failure of the most ordinary economic math comprehension.

Obama demonstrated that Dems can promise them fantasy shit over and over, they fall for it every time, and nobody ever has to deliver on a thing.

Hey, ain't there elections coming up next year. Blacks ain't really pro-Biden. Time to start talking up reparations again. Of course, where there is a Black majority government it's easy to steal from the other Races.

https://www.msn.com/en-us/news/us/atlanta-is-discussing-creative-methods-to-issue-reparations-to-black-residents/ar-AA1jV3Pi?ocid=msedgdhp&pc=U531&cvid=6319447d88e249379602b26f787dd297&ei=29

Reparations should consist solely of a free one-way ticket to Africa.

Patrick says

Reparations should consist solely of a free one-way ticket to Africa.

Don't worry, Trump will be pushing Reparations before this election cycle is over with his new BLM friends.

As long as reparations are those one-way tickets, I'm all for it!

original link

No one will get reparations. This false promise is just a way of keeping Black voters voting Dem until they get displaced by illegals.

I paid my reparations to the US Treasury last week when I filed my 1040.

clambo says

I paid my reparations to the US Treasury last week when I filed my 1040.

I started doing the family taxes at age 13. I'm the only one I know who does his own taxes - on paper, mailed in, bitches.

stereotomy says

I started doing the family taxes at age 13. I'm the only one I know who does his own taxes - on paper, mailed in, bitches.

Do you have Schedule E type rentals, cap gains, education or medical deductions/credits, Schedule C, self employment tax, recaptures, and so on? If all one is doing is W2 income, interest, and dividends, taxes are straight forward. I do my own taxes as well (along with my mom's and a family friend), but I use TurboTax Deluxe and efile.

Patrick says

All for show. They'll come up with some way for this to be deepsixed AND blame it on 'racist MAGA Republicans'.

Same RINOs who don't have any power.

https://history.stackexchange.com/questions/55800/what-percentage-of-slaves-originally-brought-from-africa-were-purchased-from-sla

From the evidence below, failing very strong evidence that it was routine for merchant European slave traders to hunt down slaves themselves along the Slave Coast, the percentage of slaves delivered to the New World that were purchased from black slavers must be very close to 100%. There is simply no business model, consistent with the slave trade as we understand it, that supports or includes the practice of idling for weeks and months of slave hunting along the African coast instead of just purchasing the abundant slaves to be had there.

Patrick says

Methinks that the lack of basic math skills amongst the KommieKunt feral printing press diploma apparatchiks is catching up with them. They are oblivious to all but their own corruption fantasizing about this absurd bolus of money laundering via bogus virtue signaling. It really is a living example of kakistocracy and killing the goose that lays the golden eggs (or Golden State, as it may be). Soros smiles.

Of course, we know it is always a dangling carrot for the stupids to get votes, a perpetually elusive promise of treasure from the government tap. It emanates from the ghetto think of those who think it is smart to rob the department store and put it out of business, then wonder why they have no place to shop.

Ceffer says

we know it is always a dangling carrot for the stupids to get votes

Exactly. Everything will be promised, nothing will be paid.

HeadSet says

Ceffer says

we know it is always a dangling carrot for the stupids to get votes

Exactly. Everything will be promised, nothing will be paid.

This is the modern application of Carl Marks theory!

Patrick says

There is simply no business model, consistent with the slave trade as we understand it, that supports or includes the practice of idling for weeks and months of slave hunting along the African coast instead of just purchasing the abundant slaves to be had there.

... but it was the White English that put an end to slavery.

Patrick says

Patrick says

There is simply no business model, consistent with the slave trade as we understand it, that supports or includes the practice of idling for weeks and months of slave hunting along the African coast instead of just purchasing the abundant slaves to be had there.

yeah Patrick, it was also part of tribal warfare in Africa as far as one tribe attacking another and then selling its captives to European slave traders

also almost related, but watch Mel Gibson's Apocalypto as far as this tribal warfare with the mother in law of the main protagonist or main character being sold in a slavery market within the Mayan city whereas the male captives were used for human sacrifice

.