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Trump strips US Fed of emergency credit powers in latest scorched-earth move
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Nov 21, 2020 17:19:46   #
Auntie Dee
 
Michael10 wrote:
Ambrose Evans-Pritchard
Fri, November 20, 2020, 7:22 AM CST

The Trump Administration is to shut down the emergency lending powers of the US Federal Reserve, taking extraordinary action to block reserve funds for the incoming Biden Treasury and prevent a Democrat bail-out of state and local governments.

The pre-emptive strike marks a breakdown in the normal co-operation between the US Treasury and the Fed, and comes just as the winter wave of C****-** reaches a crescendo. The services sector is already spiralling back into contraction, with a cliff-edge approaching for jobless support.

“We are in a perilous moment for the economy,” said Jason Furman, the former head of the White House Council of Economic Advisors.

The US Treasury Secretary, Steve Mnuchin, has told the Fed that he will not roll over five of its nine Great Depression powers under the Article 13 (3) of the Federal Reserve Act. There will be a suspension of its lending facilities for companies, local governments, and ‘Main Street’ loans at the end of the year.

“The most obvious interpretation is that the Trump administration is seeking to debilitate the economic recovery as much as possible on the way out of the door,” said David Wilcox, the Fed’s former chief economist, now at the Peterson Institute.

“Circumstances are very tenuous at the moment. If the situation unravels and really goes South this could prove to be a very damaging step. Secretary Mnuchin will go down in history as the man who took away a safety net when it was really needed,” he said.

The Treasury also instructed Fed Chairman Jay Powell to return the unused portion of a $454bn account approved by Congress during the market meltdown in March.

This seed money gave the Fed $4.5 trillion extra lending power under a policy of 10:1 leverage and had an electrifying effect on market confidence – avoiding the errors made in 2008.

Trump will burn this country to the ground out of spite.
Ambrose Evans-Pritchard br Fri, November 20, 2020,... (show quote)


Trump is DILUTING the power of the FEDERAL RESERVE, WHICH BY THE WAY is NOT OWNED by the US of A! This is something that SHOULD have happened eons ago!! He has a plan but it is NOT going to burn this country to the ground! Why should he do it out of spite when he will prevail in the e******n...that FALSE CLAIM doesn't even MAKE SENSE!!

You might take note that all of these so called quoted Officials that are criticizing this move are FORMER officials, because they were officials with a Democrat Administration!!! NOT SURPRISING that they would disagree with Trump's approach! Jason Furman is the FORMER head of the OBAMA White House Council of Economic Advisors. David Wilcox, was a former chief economist with the Federal Reserve who retired in 2018, probably because he was not in agreement with Trump.

Rumors about this move have been around for the better part of this year, this is NOT A BRAND NEW PLAN that Trump is doing because he thinks he will lose the e******n! If you were more knowledgeable about financial markets and less H**E-FILLED toward YOUR PRESIDENT, you would KNOW THIS!!!

Reply
Nov 21, 2020 17:22:25   #
Auntie Dee
 
Lonewolf wrote:
Biden won by over 6 million v**es honest v**es why is that hard to beleave.


Actually it is NOT ONLY hard to believe...IT IS IMPOSSIBLE TO BELIEVE!

If you had even a smidgen of common sense, you would KNOW THIS! YOU are ABSOLUTELY BLIND to anything other than what the MSM feeds you!!!

Reply
Nov 21, 2020 17:23:19   #
Auntie Dee
 
Mommam wrote:
Don’t worry, Trup knows what he’s doing he cares about our country win or lose. He knows ore about economy &money in his pinky finger than 95% of the rest of us combined. He always has a plan, he won in a historic landslide? This will be proven.


KEEP THE FAITH!

Reply
 
 
Nov 22, 2020 06:00:06   #
Seth
 
Tiptop789 wrote:
So much for trump caring about Americans.


You really are low information, aren't you?

Reply
Nov 22, 2020 06:12:28   #
Seth
 
Michael10 wrote:
Ambrose Evans-Pritchard
Fri, November 20, 2020, 7:22 AM CST

The Trump Administration is to shut down the emergency lending powers of the US Federal Reserve, taking extraordinary action to block reserve funds for the incoming Biden Treasury and prevent a Democrat bail-out of state and local governments.

The pre-emptive strike marks a breakdown in the normal co-operation between the US Treasury and the Fed, and comes just as the winter wave of C****-** reaches a crescendo. The services sector is already spiralling back into contraction, with a cliff-edge approaching for jobless support.

“We are in a perilous moment for the economy,” said Jason Furman, the former head of the White House Council of Economic Advisors.

The US Treasury Secretary, Steve Mnuchin, has told the Fed that he will not roll over five of its nine Great Depression powers under the Article 13 (3) of the Federal Reserve Act. There will be a suspension of its lending facilities for companies, local governments, and ‘Main Street’ loans at the end of the year.

“The most obvious interpretation is that the Trump administration is seeking to debilitate the economic recovery as much as possible on the way out of the door,” said David Wilcox, the Fed’s former chief economist, now at the Peterson Institute.

“Circumstances are very tenuous at the moment. If the situation unravels and really goes South this could prove to be a very damaging step. Secretary Mnuchin will go down in history as the man who took away a safety net when it was really needed,” he said.

The Treasury also instructed Fed Chairman Jay Powell to return the unused portion of a $454bn account approved by Congress during the market meltdown in March.

This seed money gave the Fed $4.5 trillion extra lending power under a policy of 10:1 leverage and had an electrifying effect on market confidence – avoiding the errors made in 2008.



Trump will burn this country to the ground out of spite.
Ambrose Evans-Pritchard br Fri, November 20, 2020,... (show quote)


So you believe that a Biden presidency bailing out fiscally mismanaged Democrat run cities and states with the tax money of all Americans is the way to go?

Do you even have a clue that the Fed, like most central banks around the world, is g*******t in nature and has no loyalty whatsoever to the United States?

The Fed has been allowed to go totally unsupervised in handling major aspects of our economy for way too long, they have refused audits and essentially kept our elected officials in the dark as to exactly what they've been up to. The fact that they are a private concern rather than a government agency has given them far too much autonomy when you consider that they set interest rates and print our money, and control a major part of our national debt.

Trump is looking out for the American people, and what he's doing was actually planned quite some time ago, long before the e******n.

During the height of the p******c, when millions were hurting, Trump prevented them from going along with the g*******t agenda and raising interest rates.

You really are low information. You post opinions dealing with the economy when you have no clue how it works.

Reply
Nov 22, 2020 14:10:19   #
Sicilianthing
 
Auntie Dee wrote:
Trump is DILUTING the power of the FEDERAL RESERVE, WHICH BY THE WAY is NOT OWNED by the US of A! This is something that SHOULD have happened eons ago!! He has a plan but it is NOT going to burn this country to the ground! Why should he do it out of spite when he will prevail in the e******n...that FALSE CLAIM doesn't even MAKE SENSE!!

You might take note that all of these so called quoted Officials that are criticizing this move are FORMER officials, because they were officials with a Democrat Administration!!! NOT SURPRISING that they would disagree with Trump's approach! Jason Furman is the FORMER head of the OBAMA White House Council of Economic Advisors. David Wilcox, was a former chief economist with the Federal Reserve who retired in 2018, probably because he was not in agreement with Trump.

Rumors about this move have been around for the better part of this year, this is NOT A BRAND NEW PLAN that Trump is doing because he thinks he will lose the e******n! If you were more knowledgeable about financial markets and less H**E-FILLED toward YOUR PRESIDENT, you would KNOW THIS!!!
Trump is DILUTING the power of the FEDERAL RESERVE... (show quote)


>>>

WARNING !
The following Information is considered Dangerous:

The first misconception that most people have is that the Federal Reserve Bank is a branch of the US governmment. IT IS NOT. THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY. Most people believe it is as American as the Constitution. The Constitution actually forbids it's existence. Article 1, Section 8, states that Congress shall have the power to create money and regulate the value thereofff, not a bunch of international bankers! Today the FED controls and profits by printingg worthless paper, called money, through the Treasury, regulating its value, and the biggest outrage of all, collecting interest on it! (the so-called national debt, via the federal income tax)

The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges US taxpayers interest. Many Congressmen and Presidents say this is fraud. Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well-kept secret, has been revealed: 1. Rothschild Bank of London 2. Warburg Bank of Hamburg 3..Rothschild Bank of Berlin 4. Lehman Brothers of NY 5. Lazard Brothers of Paris 6. Kuhn Loeb Bank of NY 7. Israel Moses Seif Banks of Italy 8.. Goldman Sachs of NY 9. Warburg Bank of Amsterdam 10.Chase Manhattan Bank of NY

These bankers are connected to London Banking Houses which ultimately control the FED. When England lost the Revolutionary War with America where our forefathers were fighting thheir own government, they planned to control us by controlling our banking system, the printing of our money, and our debt. How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had comitted to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Act through Congress just before Xmas, when much of Congress was on vacation..........

Reply
Nov 22, 2020 14:10:49   #
Sicilianthing
 
Seth wrote:
So you believe that a Biden presidency bailing out fiscally mismanaged Democrat run cities and states with the tax money of all Americans is the way to go?

Do you even have a clue that the Fed, like most central banks around the world, is g*******t in nature and has no loyalty whatsoever to the United States?

The Fed has been allowed to go totally unsupervised in handling major aspects of our economy for way too long, they have refused audits and essentially kept our elected officials in the dark as to exactly what they've been up to. The fact that they are a private concern rather than a government agency has given them far too much autonomy when you consider that they set interest rates and print our money, and control a major part of our national debt.

Trump is looking out for the American people, and what he's doing was actually planned quite some time ago, long before the e******n.

During the height of the p******c, when millions were hurting, Trump prevented them from going along with the g*******t agenda and raising interest rates.

You really are low information. You post opinions dealing with the economy when you have no clue how it works.
So you believe that a Biden presidency bailing out... (show quote)


>>>

WARNING !
The following Information is considered Dangerous:

The first misconception that most people have is that the Federal Reserve Bank is a branch of the US governmment. IT IS NOT. THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY. Most people believe it is as American as the Constitution. The Constitution actually forbids it's existence. Article 1, Section 8, states that Congress shall have the power to create money and regulate the value thereofff, not a bunch of international bankers! Today the FED controls and profits by printingg worthless paper, called money, through the Treasury, regulating its value, and the biggest outrage of all, collecting interest on it! (the so-called national debt, via the federal income tax)

The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges US taxpayers interest. Many Congressmen and Presidents say this is fraud. Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well-kept secret, has been revealed: 1. Rothschild Bank of London 2. Warburg Bank of Hamburg 3..Rothschild Bank of Berlin 4. Lehman Brothers of NY 5. Lazard Brothers of Paris 6. Kuhn Loeb Bank of NY 7. Israel Moses Seif Banks of Italy 8.. Goldman Sachs of NY 9. Warburg Bank of Amsterdam 10.Chase Manhattan Bank of NY

These bankers are connected to London Banking Houses which ultimately control the FED. When England lost the Revolutionary War with America where our forefathers were fighting thheir own government, they planned to control us by controlling our banking system, the printing of our money, and our debt. How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had comitted to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Act through Congress just before Xmas, when much of Congress was on vacation..........

Reply
 
 
Nov 22, 2020 15:19:27   #
Seth
 
Sicilianthing wrote:
>>>

WARNING !
The following Information is considered Dangerous:

The first misconception that most people have is that the Federal Reserve Bank is a branch of the US governmment. IT IS NOT. THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY. Most people believe it is as American as the Constitution. The Constitution actually forbids it's existence. Article 1, Section 8, states that Congress shall have the power to create money and regulate the value thereofff, not a bunch of international bankers! Today the FED controls and profits by printingg worthless paper, called money, through the Treasury, regulating its value, and the biggest outrage of all, collecting interest on it! (the so-called national debt, via the federal income tax)

The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges US taxpayers interest. Many Congressmen and Presidents say this is fraud. Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well-kept secret, has been revealed: 1. Rothschild Bank of London 2. Warburg Bank of Hamburg 3..Rothschild Bank of Berlin 4. Lehman Brothers of NY 5. Lazard Brothers of Paris 6. Kuhn Loeb Bank of NY 7. Israel Moses Seif Banks of Italy 8.. Goldman Sachs of NY 9. Warburg Bank of Amsterdam 10.Chase Manhattan Bank of NY

These bankers are connected to London Banking Houses which ultimately control the FED. When England lost the Revolutionary War with America where our forefathers were fighting thheir own government, they planned to control us by controlling our banking system, the printing of our money, and our debt. How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had comitted to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Act through Congress just before Xmas, when much of Congress was on vacation..........
>>> br br WARNING ! br The following Inf... (show quote)


You're telling me nothing new.

Reply
Nov 22, 2020 16:12:56   #
Sicilianthing
 
Seth wrote:
You're telling me nothing new.


>>>

But you’ve only tolerated and worked for them by de facto conscription your whole lives !

You are also to blame.

Reply
Nov 22, 2020 16:27:01   #
Seth
 
Sicilianthing wrote:
>>>

But you’ve only tolerated and worked for them by de facto conscription your whole lives !

You are also to blame.


Well, I considered going down there with a bazooka and blowing them up as you seem to advocate, then decided not to.

Reply
Nov 22, 2020 17:08:07   #
Sicilianthing
 
Seth wrote:
Well, I considered going down there with a bazooka and blowing them up as you seem to advocate, then decided not to.


>>>

Just get your teams ready Seth!

Reply
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