Shocker

In the city of Seattle, an autonomous commune of Marxists has seceded from the the State of Washington, USA.

Today, the Nasdaq hit an all time high and the USA was documented to be in a recession.

“If the workers who were recorded as employed but absent from work due to ‘other reasons’ (over and above the number absent for other reasons in a typical May) had been classified as unemployed on temporary layoff, the overall unemployment rate would have been about 3 percentage points higher than reported…“ -BLS

"What thou meanest by seizing the whole earth; but because I do it with a petty ship, I am called a robber, whilst thou who dost it with a great fleet art styled emperor?”

Too bad printing money doesn’t increase our health or our wealth because the USA have replaced the Ottoman Empire and the Soviet Union as the sick man of Europe.

Three employees of the Fed are writing a working paper to see what would happen if the Federal Reserve inflated away the US debt.

“We study the implications of a coordinated fiscal and monetary strategy aimed at creating a controlled rise of inflation to wear away a targeted fraction of debt.”

“One of the reasons I do feel comfortable with us spending all this money is because interest rates are very low and we’re taking advantage of long term rates.” -US Treasury Secretary Steven Mnuchin

“If the workers who were recorded as employed but absent from work due to ‘other reasons’ (over and above the number absent for other reasons in a typical April) had been classified as unemployed on temporary layoff, the overall unemployment rate would have been almost 5 percentage points higher than reported…” -BLS

The Fed’s balance sheet will continue to increase as they print money to finance the US government.

Oil producing nations and companies with dollar-denominated debts may realize that they could pay off more of their debts by selling oil for gold if gold continues to go up priced in dollars, than if they could if they keep selling oil for dollars at these low prices. It would be the death of the petro dollar. 

Because the King wanted common sense gun control, the United States exist.

The COMEX implemented a new gold category for 400 ounce bars Monday, April 13th. 

Normally, the gold is exchanged in 100 ounce bars. This new category could imply that the COMEX has run out of 100 ounce bars.

“As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.”

“And I sincerely believe with you, that banking establishments are more dangerous than standing armies.” -Thomas Jefferson in a letter to John Taylor, May 28th, 1816

The Federal Reserve owns $6,083,141,000,000 worth of assets.

“I can say everything’s closed down. And people say, ‘that’s nice. You’re being over dramatic. You’re political. I don’t believe it. I don’t think it’s necessary. I’m not going to comply with it.’“ -Governor Andrew Cuomo of New York

“The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy.“

“I think we are actually at a point of encouraging risk-taking, and that should give us pause. Investors really do understand now that we will be there to prevent serious losses.“

-Current Federal Reserve Chairman Jerome Powell, Oct 2012 FOMC meeting.

An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s.