4TH of July Special for ET Stalwart "jem" and the Like-Minded -- Courtesy Mr. Nathan Tankus

[jem]

Fact... The Federal Reserve Banks are inarguably not part of the Federal Govt...

Fact... Member banks hold shares in the Federal Reserve System. (these are private banks)

Fact... You have never been able to show The Federal Govt owns even one share

 

[piezoe]

Lately each time I destroy your position and show you that the FED creates trillions of dollars at will and distributes the money as i sees fit...

Jem, you have never shown me this, though, I know, you think you have. We have never disputed the fact that the Government creates money. The Government is the source of money. The Government creates it at will. So that, jem, is why the integrity of our government is so damn important. And it's why none of us should want a criminal awaiting indictment, like our orange, Jackass president, to have anything to do with the creation of this money. This is a potentially very good system, jem. Recognize that, and be thankful. And do your best to understand it.

Your thinking about the fed goes back to the pre 1930's. It is wrong now.

 

[jem]

We will approach this systematically...

True for False...




The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress.

https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks

 

[jem]

Federal Reserve Banks are Set up like Private Corporations?

True or False?

True... see llink above.

 

[Tsing Tao]

Where's Jem . . . . . . . ? . ?

Probably out having a life on this Holiday Weekend like many of us were. Not everyone sits alone at home like you, Spike. Some of us are invited to do stuff with real people.

 

[jem]

The Federal Reserve banks just spent trillions of dollars they created with the press of buttons to purchase assets in the fight against Covid...

true or false.

 

[Tsing Tao]

The Federal Reserve banks just spent trillions of dollars they created with the press of buttons to purchase assets in the fight against Covid...

true or false.

True.

 

[jem]

We hiked to waterfalls in Ramona CA over the weekend.
3 miles down... then three miles back.
Nice pool for swimming and jumping below the water falls.

It was not Hawaii but pretty amazing for San Diego in my opinion.
Really nice 6 mile hike... in the heat.

Went to the beach on the other days.
Beach was great as usual
Parking was difficult because our moron governor makes arbitrary non data and science based decisions.

Probably out having a life on this Holiday Weekend like many of us were. Not everyone sits alone at home like you, Spike. Some of us are invited to do stuff with real people.

 

[Spike Trader]

Some of us are invited to do stuff with real people.

Cool . . . . . did you wear your mask ?

 

[RRY16]

We hiked to waterfalls in Ramona CA over the weekend.
3 miles down... then three miles back.
Nice pool for swimming and jumping below the water falls.

It was not Hawaii but pretty amazing for San Diego in my opinion.
Really nice 6 mile hike... in the heat.

Went to the beach on the other days.
Beach was great as usual
Parking was difficult because our moron governor makes arbitrary non data and science based decisions.

I applaud his decision, it keeps the ugly riff-raff away from ruining the beach experience.