There’s a spat between the Fed and Treasury as to whether certain types of stimulus should be extended, or not. If you can stomach them, here are the details…
(by Half Dollar) There is mainstream reporting that began on Thursday and continues this Friday about a disagreement between
Hollywood Flunky Treasury Secretary Steve Mnuchin and Terrorist Leader Fed Chair Jerome Powell on whether certain types of stimulus should be extended, or not.
Here’s what’s going on, from Bloomberg (bold in all following quotes added for emphasis and commentary) :
The top two U.S. economic policymakers clashed over whether to preserve emergency lending programs designed to shore up the economy — a rare moment of discord as the nation confronts the risk of a renewed downturn spurred by the resurgent coronavirus.
No matter what happens going forward, as in, a tweak here or a tweak there, one thing is absolutely certain: The Fed and Treasury are in fact engaging in, and will continue to engage in “emergency” market interventions.
Shame on Bloomberg for planting the seed otherwise.
Continuing, if you can stomach it:
The disagreement erupted late Thursday when outgoing Treasury Secretary Steven Mnuchin released a letter to Federal Reserve Chair Jerome Powell demanding the return of money the government provides the central bank so it can lend to certain markets in times of stress. Minutes later, the Fed issued a statement urging that “the full suite” of measures be maintained into 2021.
It’s not like any of that “money” matters, for it’s all just debt monetization.
That is to say, we’re not even talking about “money” Bloomberg, so shame on you again, but rather, we’re talking about unbacked, debt-based fiat currency dependent on exponential, unsustainable growth, otherwise known as the Federal Reserve Note and commonly called the “US Dollar”.
If you want to know what our “money” is actually REQUIRED to be, read section 8 and section 10 of this all-important document that’s anything but followed, much less defended by any of our public “servants” or elected “leaders”, including the Deep State Globalist in Patriot’s Clothing.
Continuing, even though it’s getting very hard to stomach:
“This is a significant and disturbing breach at a critical time for the economy,” said Tony Fratto, who worked at the Treasury and the White House during the George W. Bush administration. “We need all the arms of government working together and instead we’re seeing a complete breakdown,” he said, noting that Washington remains at an impasse on fiscal stimulus as well.
Not that I think the Fed should exist, for I think the Fed should be labeled a Domestic Terrorist Organization and dealt with accordingly, but here we have a former “public servant” discussing the Treasury and the Fed as one in the same.
Is that funny, ironic, pathetic, or sad?
Continuing (throws up a little bit in mouth):
Investor reaction to the split was swift amid fears the decision will unsettle markets and impede the economic recovery: futures on the S&P 500 Index were down 0.5% in early Friday trading in Europe, with haven demand sending Treasuries higher and pulling down yields.
Um, there is no economic recovery Bloomberg.
Again, shame on you Bloomberg for the propagandists that you are, spewing your typical product, but nonetheless, sure, it could throw “investors” off if “investors” for some reason are still gambling in the rigged casino known as Wall Street!
Good luck with that!
Maybe I’ll hold it down after all:
Treasury chiefs and Fed chairs typically coordinate closely at times of crisis, appearing jointly before Congress and working in lockstep to ensure funding markets run smoothly. The two agencies were tightly linked in the bailouts of the financial and auto industry more than a decade ago. And they united again in the March 2020 Cares Act economic rescue package, which appropriated cash for the government to finance Fed backstops for everything from municipal to corporate finance after markets buckled when the pandemic hit.
I just pulled another Janet Yellen:
Keep reading the article on Bloomberg, but only if you can stomach it.