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Breaking $2 trillion
| September 16th, 2020 at 12:56:01 PM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18204 |
But all those steel and concrete companies then have the money to chase goods. The President is a fink. |
| September 16th, 2020 at 2:03:22 PM permalink | |
| Tanko Member since: Aug 15, 2019 Threads: 0 Posts: 1978 |
No. "Inflation is made in Washington, because only Washington can create money." “What produces it, is too much government spending and too much government creation of money. Nothing else." Milton Friedman: One reason we haven't seen hyperinflation, despite the trillions injected into the money supply, is because the banks are hoarding the cash to shore up their balance sheets. In his teleconference today, Powell said the Fed is going to purchase assets and inject more cash into the economy, via the banks, in an effort to get to an average inflation rate of 2%. We could end up with negative interest rates this time next year. Another windfall for the banks. |
| September 17th, 2020 at 1:23:32 AM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Nice clip. Thank you for posting.  Public Law 88-36 (PL88-36) was enacted on 4 June 1963 which repealed the Silver Purchase Act of 1934, and the Acts of July 6, 1939 and July 31, 1946, while providing specific instruction regarding the disposition of silver held as reserves against issued certificates and the price at which silver may be sold. It also amended the Federal Reserve Act to authorize the issue of lower denomination notes (i.e., $1 and $2), allowing for the gradual retirement (or swapping out process) of $1 silver certificates and releasing silver bullion from reserve. Increase in Federal Reserve Notes over previous year 1951 +3.06% 1952 +4.90% 1953 +4.08% 1954 -0.87% 1955 0.92% 1956 1.71% 1957 1.05% 1958 0.05% 1959 2.61% 1960 0.24% 1961 0.96% 1962 4.64% 1963 5.83% Public Law 88-36 (PL88-36) was enacted on 4 June 1963 1964 6.81% 1965 7.63% 1966 7.16% 1967 5.29% 1968 6.19% 1969 6.77% 1970 6.91% 1971 7.72% --- end of gold standard backing USD 1972 6.37% 1973 9.33% 1974 9.25% 1975 10.60% 1976 9.62% 1977 9.74% 1978 10.55% 1979 10.47% -- Federal Reserve Notes in Circulation exceeds $100 billion 1980 9.82% |
| September 18th, 2020 at 4:22:24 AM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | 2020-09-16: $2.029 trillion in circulation 2011-03-16: $1 trillion in circulation Liabilities and Capital: Other Factors Draining Reserve Balances: Currency in Circulation: Week Average: (WCURCIR)] Amount of increase in billions $267.03 Last 12 months (293% of the average of the previous 7 years) $77.01 Previous 12 months $105.62 Previous 12 months $108.02 Previous 12 months $86.13 Previous 12 months $95.96 Previous 12 months $84.29 Previous 12 months $80.01 Previous 12 months Those stories you read about COVID killing cash are certainly not true. |