[ - ] FreeinTX 1 point 2.2 yearsFeb 2, 2023 18:08:28 ago (+1/-0)
Robert C. Hockett is an American lawyer, law professor, and policy advocate. He holds two positions at Cornell University (the Edward Cornell Professor of Law at Cornell Law School and a Professor of Public Affairs), is senior counsel at investment firm Westwood Capital, LLC, and was a Fellow at The Century Foundation think tank. As of 2019, he is advising Congresswoman Alexandria Ocasio-Cortez on the Green New Deal.
The Century Foundation (established first as The Cooperative League and then the Twentieth Century Fund) is a progressive think tank headquartered in New York City with an office in Washington, D.C. It was founded as a nonprofit public policy research institution on the belief that the prosperity and security of the United States depends on a mix of effective government, open democracy, and free markets.
"It’s primarily a debt that the federal government owes to us, right? To the citizenry itself. Most of the holders of US debt are American citizens."
Ah, the old "we owe it to ourselves" left-wing wacko argument. So giving each American one billion dollars would be bad. But if we give each American one billion in Treasury Securities (which each citizen can immediately try to cash in for one billion dollars, but no one would be buying), then everything is fine because "we owe it to ourselves." How these morons achieve positions of influence other than connections is beyond me.
Well this guy is clearly someone who benefits from this debt. Really benefits from it. "Owed to ourselves" means your money goes to someone else (jews, China, whatever). People who hold bonds in their retirement portfolio aren't benefitting from this. At best they are counteracting the force of inflation.
For most white people this giant money transfer process that is the Fed printing, the government spending, and the interest being paid doesn't benefit them. it's a wealth transfer and so the wealth has to come from someone, and it's mostly from us but not to us
Correct. The Fed isn't part of the government. Its checks -- drawn on no account -- are deposited in banks. Who are owned by somebody. And they get access to that money. They can lend it out 10 times or whatever and collect interest on it. So it is their money -- even if it's recorded as a deposit.
They can lend it out 10 times or whatever and collect interest on it.
Fractional reserve. They only needed to have 1/10th of what they lend out. They got rid of that rule a little bit ago. When the collapse happens, you know that it was deliberate.
[ + ] diggernicks
[ - ] diggernicks 1 point 2.2 yearsFeb 2, 2023 18:42:38 ago (+1/-0)
at the current pace though that'll be a day or two funding the govt
[ + ] bonghits4jeebus
[ - ] bonghits4jeebus [op] 0 points 2.2 yearsFeb 2, 2023 23:05:17 ago (+0/-0)
[ + ] FreeinTX
[ - ] FreeinTX 1 point 2.2 yearsFeb 2, 2023 18:08:28 ago (+1/-0)
[ + ] GrayDragon
[ - ] GrayDragon 0 points 2.2 yearsFeb 2, 2023 18:40:27 ago (+0/-0)
Ah, the old "we owe it to ourselves" left-wing wacko argument. So giving each American one billion dollars would be bad. But if we give each American one billion in Treasury Securities (which each citizen can immediately try to cash in for one billion dollars, but no one would be buying), then everything is fine because "we owe it to ourselves." How these morons achieve positions of influence other than connections is beyond me.
[ + ] bonghits4jeebus
[ - ] bonghits4jeebus [op] 0 points 2.2 yearsFeb 2, 2023 23:01:16 ago (+0/-0)*
For most white people this giant money transfer process that is the Fed printing, the government spending, and the interest being paid doesn't benefit them. it's a wealth transfer and so the wealth has to come from someone, and it's mostly from us but not to us
[ + ] PotatoWhisperer2
[ - ] PotatoWhisperer2 0 points 2.2 yearsFeb 2, 2023 23:49:00 ago (+0/-0)
Prices of everything go up due to over-abundance of the trade medium.
We pay for their real assets via the inflated higher prices... Forever, as the prices never go back down.
????
jews profit.
[ + ] bonghits4jeebus
[ - ] bonghits4jeebus [op] 0 points 2.2 yearsFeb 3, 2023 00:15:07 ago (+0/-0)
[ + ] PotatoWhisperer2
[ - ] PotatoWhisperer2 0 points 2.2 yearsFeb 3, 2023 08:53:26 ago (+0/-0)
Fractional reserve. They only needed to have 1/10th of what they lend out. They got rid of that rule a little bit ago. When the collapse happens, you know that it was deliberate.