This article fits nicely with my recent Lavish posts. Imagine the US government claiming, with a straight face, that treasuries are not a risk asset?
95 sats \ 0 replies \ @Undisciplined 8 Apr
The "risk free asset" myth has somehow managed to survive multiple credit downgrades.
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75 sats \ 0 replies \ @OriginalSize 8 Apr
It's all relative and Bitcoin has less risk. There I said it.
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75 sats \ 9 replies \ @Bell_curve 8 Apr
Bond prices have been stagnant or negative for 2 years
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20 sats \ 8 replies \ @siggy47 OP 8 Apr
And, they were the cause of bank failures in 2023, yet the US govt says they are riskless!
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75 sats \ 0 replies \ @kepford 8 Apr
Hold up, are you saying people from the government might be deceptive or gasp... Liars?
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75 sats \ 6 replies \ @Bell_curve 8 Apr
I have a stupid question: how can there be bank failures when the federal reserve act was passed in 1913 to prevent bank failures?
What am I not seeing?
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10 sats \ 5 replies \ @siggy47 OP 8 Apr
I know. Right? 😀
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75 sats \ 4 replies \ @Bell_curve 8 Apr
And we can make a strong case that the federal reserve act is unconstitutional.
The whole convoluted arrangement is ridiculous
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10 sats \ 3 replies \ @siggy47 OP 8 Apr
Definitely. The big banks own the fed. Once they lose power, maybe the argument might have a chance. That's a long ways off.
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75 sats \ 1 reply \ @Bell_curve 8 Apr
The best time to repeal Federal Reserve Act was during the Great Depression
Also…
An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes
To furnish an elastic currency?
What does elastic mean?
lol
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10 sats \ 0 replies \ @siggy47 OP 8 Apr
Elastic? That's for sure!
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0 sats \ 0 replies \ @Bell_curve 8 Apr
The best alternative but also unlikely is to increase money supply by 2 percent every year regardless of crisis or emergency.
Set it and forget it.
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