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Posted

Speaking of Japan...

  Quote

The Bank of Japan will discuss scrapping its cap on government bond purchases at its next policy meeting on April 27, the Nikkei newspaper said, looking to cushion the economy against a sharp downturn caused by the coronavirus outbreak.

The BOJ will also consider a sharp increase in the amount of commercial paper and corporate bonds it purchases, the Nikkei said on Thursday, without saying where it got the information.
...

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https://www.reuters.com/article/us-health-coronavirus-boj-bonds/bank-of-japan-mulling-unlimited-bond-buying-at-next-meeting-nikkei-idUSKCN2252GY

Unlimited brrrrrr

Posted
  On 4/23/2020 at 11:39 PM, bernorange said:
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Yes that's where we're headed.  Fed expected (by virtually everyone) to move to Yield Curve Control.  Short explanation of YCC here: https://www.investopedia.com/what-is-yield-curve-control-4797189

Lower 10 yr yields are bullish for gold, with a very good (inverse) correlation since 2008

Posted
  On 4/26/2020 at 4:25 PM, washparkhorn said:
No surprise. Trickle down is not occurring. 
 
Austerity for the less wealthy via failed policy. Must have been the plan from the beginning.  

It will work next time for sure.
Posted

I’m sure most posters here are familiar with it, but thought I’d share this Medium post on Bitcoin from a few months ago. As it says, first and foremost it’s a monetary phenomenon. I can’t wait to see what happens with it as we work through this depression and its garbage crony bailouts. 

 

Posted
  On 5/6/2020 at 5:30 PM, bernorange said:

That chart is graphing "% change from a year ago".  It's a strange metric to highlight IMO.  I'd rather see the actual M2 numbers.  You can find that here:

https://fred.stlouisfed.org/series/M2

Click on the 1 Y view and behold how the graph jumps right around March 9.

3/9/2020 - $15.6T

4/20/2020 - $17.2T

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Better yet - Check out September 1, 2008 to April 20, 2020 - $7.7T to $17.2T

$10T jump in 11 years. 

Now check out money velocity (slowing). 

fredgraph.png?g=qRkO

The Fed is printing money and it isn't moving through the economy - it has been hoarded and austerity has been imposed on the 99%.

How billionaires make money 101 - they print it for themselves. Not production; not jobs; a printing machine. .

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Posted
  On 5/6/2020 at 5:30 PM, bernorange said:

That chart is graphing "% change from a year ago".  It's a strange metric to highlight IMO.  I'd rather see the actual M2 numbers.  You can find that here:

https://fred.stlouisfed.org/series/M2

Click on the 1 Y view and behold how the graph jumps right around March 9.

3/9/2020 - $15.6T

4/20/2020 - $17.2T

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It’s just the change YoY. Seems very bullish for stocks, to me. 

Posted (edited)
  On 5/6/2020 at 7:12 PM, GRHorn said:

It’s just the change YoY. Seems very bullish for stocks, to me. 

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It is bullish for stocks - especially with the Fed propping up that asset bubble rather than people..

When the shit hits the fan - and it will - there will be a fundamental decision to make. Policy analysts in other western democracies are already discussing the fundamental question - "People and jobs? Or wealth? The government has to decide which to prioritize"

From the UK Tax Policy: https://www.taxresearch.org.uk/Blog/2020/05/05/people-and-jobs-or-wealth-the-government-has-to-decide-which-to-prioritise-and-there-is-only-one-right-answer/

 

  Reveal hidden contents

 

Edited by washparkhorn
Posted

The Federal Reserve researches everything . . . 

https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr921.pdf

Just released - "Pandemics Change Cities: Municipal Spending and Voter Extremism in Germany, 1918-1933" - The rise of the Nazi Party in Germany following the 1918-20 influenza pandemic

  Quote

We are able to document several important findings.

First, we show that areas which experienced a greater relative population decline due to the spread of influenza spend less, per-capita, on their inhabitants in the following decade. This holds especially for spending on amenities more likely to be consumed by the young, for example school funding.

Second, influenza deaths of 1918 are correlated with an increase in the share of votes won by right-wing extremists, such as the National Socialist Workers Party (aka. the Nazi Party), in the crucial elections of 1932 and 1933. This holds even when we control for a city’s ethnic and religious makeup, regional unemployment, past right-wing voting, and other local characteristics assumed to drive the extremist vote share. A one std. deviation increase in the proportion of the population killed by influenza was associated with an up to 3% increase in the share of the vote won by the national socialist party. This phenomenon is not observed for other parties also considered "extremist", such as the communists, or influenced by deaths due to common diseases, such as tuberculosis.

 

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There's a bad moon on the rise.

 

Posted
  On 5/7/2020 at 6:50 AM, washparkhorn said:

No, but I have respect for the ethos and logic behind the practice. The ones I know who do buy precious metals always buy physical, not paper, metal. Seems wise if the shit hits the fan.

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You mean people buying actual gold bars? (troy ounces and what not)

Posted

If some dude accosted me with a camera asking me to buy a gold coin, I would wave him off without talking to him. Figure he would be some prepper nut that I wouldn't want to spend 2 seconds talking on any subject much less gold.

Posted

More of a financial system/regulation issue here but just another small example of how the system is captive to the big banks with little repercussions for them. 

 

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Posted
  On 5/13/2020 at 9:40 PM, GRHorn said:

 

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I am not sure the President understands a negative interest rate policy by the Fed. I agree that everything is on the table. The Fed has everything on the table, but isn't willing to move to negative interest rates yet. But there is a rationale for negative interest rates by the Fed at this point. Pouring more liquidity into a system unwilling to lend it out is pushing on a string. (Money Velocity is stagnating). You encourage lending by banks if you charge them to park their money at the Fed (negative interest rates). Increased liquidity/lending to main street primes the pump for a recovery. The Fed should care about main street, since it is the economic engine in this nation. Kill it off and you kill off how the wealthy thrive. 

Posted
  On 5/13/2020 at 10:06 PM, washparkhorn said:

I am not sure the President understands a negative interest rate policy by the Fed. ...

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I'm pretty confident that he doesn't.  Negative rates have been tried in other countries. They don't work as intended and incur unintended consequences.  But hey, by all means, make gold more attractive for storing wealth.

Posted
  On 5/6/2020 at 7:36 PM, washparkhorn said:

It is bullish for stocks - especially with the Fed propping up that asset bubble rather than people..

When the shit hits the fan - and it will - there will be a fundamental decision to make. Policy analysts in other western democracies are already discussing the fundamental question - "People and jobs? Or wealth? The government has to decide which to prioritize"

From the UK Tax Policy: https://www.taxresearch.org.uk/Blog/2020/05/05/people-and-jobs-or-wealth-the-government-has-to-decide-which-to-prioritise-and-there-is-only-one-right-answer/

 

  Reveal hidden contents

 

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the government almost always bails wealth. 

 

we've modeled society on the old split $10 economics class experiment.  the billionaires get to decide the split, and the rest of us say yes because pennies is better than nothing.

Posted
  On 5/13/2020 at 10:06 PM, washparkhorn said:

I am not sure the President understands a negative interest rate policy by the Fed. I agree that everything is on the table. The Fed has everything on the table, but isn't willing to move to negative interest rates yet. But there is a rationale for negative interest rates by the Fed at this point. Pouring more liquidity into a system unwilling to lend it out is pushing on a string. (Money Velocity is stagnating). You encourage lending by banks if you charge them to park their money at the Fed (negative interest rates). Increased liquidity/lending to main street primes the pump for a recovery. The Fed should care about main street, since it is the economic engine in this nation. Kill it off and you kill off how the wealthy thrive. 

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  On 5/14/2020 at 1:17 AM, bernorange said:

I'm pretty confident that he doesn't.  Negative rates have been tried in other countries. They don't work as intended and incur unintended consequences.  But hey, by all means, make gold more attractive for storing wealth.

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Trump was calling for negative rates BEFORE we even had the Covid crisis.

BEFORE.

 

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Posted
  On 5/6/2020 at 5:30 PM, bernorange said:
That chart is graphing "% change from a year ago".  It's a strange metric to highlight IMO.  I'd rather see the actual M2 numbers.  You can find that here:
https://fred.stlouisfed.org/series/M2
Click on the 1 Y view and behold how the graph jumps right around March 9.
3/9/2020 - $15.6T
4/20/2020 - $17.2T

M2 yoy could be telling us something here, don’t you think?

4eaa881b11e70689d8a8f431d2419bdb.jpg
  • Like 1
Posted

Lulz.  Youtube works.  It was like watching a pro tennis match for a while there.

Numbers?

Numbers don't matter.  Trust us.

Numbers?

Numbers don't matter.  Trust us.

Repeat

Monetary policy is a confidence game.

Posted
  On 5/14/2020 at 3:28 PM, bernorange said:

Lulz.  Youtube works.  It was like watching a pro tennis match for a while there.

Numbers?

Numbers don't matter.  Trust us.

Numbers?

Numbers don't matter.  Trust us.

Repeat

Monetary policy is a confidence game.

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Numbers do matter for the Canadians.

Numbers matter less for the US - since the dollar is the reserve currency - until it isn't. 

"invest in Canadians" is MMT speak for spending in  excess of revenue. 

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  • 3 weeks later...
Posted

On the off-chance that there are some stacker types here, I found out that Provident Metals gives better prices to veterans. They don't advertise it, but if you send them scans of your Drivers License + something like a DD214 (SSN redacted), they'll make your account a military one, which means you get the bulk buy price even if you just buy one thing. All I did was contact them and ask. Makes all the prices about 5% lower.

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Posted

Good discussion on the Fed propping up the markets to the tune of $10 trillion. 

https://theanalysis.news/interviews/feds-10-trillion-defends-assets-of-the-rich-michael-hudson/

  Quote

Q: But there’s a political calculation here. Just a few months away from the presidential election, if they don’t do something by the time the election comes around, it’s already a whole sections of the working class that never knew what poverty was, are sinking into it. And by the time election comes along whole sections of the American population are going to be in desperate straits. And this is going to doom the Trump presidency. They‘re  going to have to do something.

A: (Michael Hudson)

No. Well, Trump will try to blame it on the Democrats. He’ll say, „Give me control of Congress so that we can pass a law to get America back to work and make America great again. He will blame it on other Democrats and say that he didn’t cause the Corona virus. Of course, what he did——-And he can point out that the ten trillion dollar bailout was unanimous. Democrats and Republicans. The Democrats, Nancy Pelosi in Congress, which is in charge of writing the Cares Bailout Act, could have said, „Well, we want to make sure that the states and cities are bailed out, so the public services are not cut back and so they don’t have to raid the pension funds and screw all of the retirees as other Republicans want.

     But the Democrats agreed with the Republicans to basically throw the workers under the bus, throw the retirees under the bus, throw the pensioners under the bus and focus on their donor class, the financial sector, the bondholders and the stockholders.

. . . 

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Posted
  On 6/3/2020 at 2:42 AM, bernorange said:

Twitter vids don't work on my browser.  What did Cuomo say?

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“When you need to find the money, you find it.  Let’s be honest, the a Federal government has a printing press in its basement.”

  • Fuck You 1
Posted
  On 6/3/2020 at 2:58 AM, washparkhorn said:

Good discussion on the Fed propping up the markets to the tune of $10 trillion. 

https://theanalysis.news/interviews/feds-10-trillion-defends-assets-of-the-rich-michael-hudson/

 

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The last paragraph is the key to me. Both party’s leaders decided to go full bore screwing the average American again. I can no longer vote for either party on a national level under the current rules of the game. 

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Posted
  On 6/3/2020 at 2:50 PM, GRHorn said:

“When you need to find the money, you find it.  Let’s be honest, the a Federal government has a printing press in its basement.”

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it's actually in jay powell's office.

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