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[–]Fitter_HappierWhite Nationalist[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

SS: This article "There’s a News Blackout on the Fed’s Naming of the Banks that Got Its Emergency Repo Loans; Some Journalists Appear to Be Under Gag Orders" is blowing up for good reason. The economy/government has been hijacked by Wall St. No shit Sherlock, I know, but still.

And the banks have been, again, operating if not illegally, then, let’s say, stretching the envelope, by pretending that what really are margin loans to help people buy stock are really disguised, or somehow their lawyers have drawn up these contracts as derivatives contracts.

And a derivative you can lend 50% against, instead of just 15% for margin loans. So the banks actually have been working around the whole spirit of the law to make much larger loans than they should have.

And when the stock market, as you have been watching, back then is doing what it’s doing today; it’s zigzagging, up and down, and up and down in a zigzag. That’s how you make money: Push it up, computerized buying; push it down, computerized selling.

And one part of it was other banks venturing not only into derivatives but into the margin loans.

I don’t think the ownership can control management. It’s not that Citibank and Chase can say, “Well, we own the majority stock in the Fed, so we’re just going to appoint one of our own guys as manager.”

They don’t have to. They’ll give money to the Biden administration, and Biden will appoint their people.


Biden's priorities in spending military vs. domestic spending

[–]cisheteroscumWhite Nationalist 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Havent read it yet - but weve been in a state of corrupt bank oligopoly since at least 2008. Its all a big sham, banks are not supposed to have "excess reserves". The current situation (""quantitative easing"" causing almost no inflation up until now) is only made possible by the oligopolization/mergers of major banks over the last 30 years and the revolving door with the Fed

This shit will end eventually, super-Weimar style

[–]EthnocratArcheofuturist 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

weve been in a state of corrupt bank oligopoly since at least 2008

Surely you mean 1978.

[–]cisheteroscumWhite Nationalist 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Or even 1964, when the US went off silver

The line is unclear - but the fact that things are currently fucked is not

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

economy is almost in a depression except the crash is moving slowly because wall st is fine. It's only hurting middle class.

[–]jet199 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Just like in 2008 Wall St are able to fake their results for a certain amount of time before the shit really hits the fan.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

yeah they had a housing bubble burst, people couldn't afford their mortgages due to high gas prices. Right now everything is up with inflation. The ubble is bursting and people will default on mortgages but this time they already bailed out the banks because they see it coming.