Where is all the money coming from?

Businesses and economies around the world will take a severe hit from the costs and effects of the Covid-19 coronavirus.

New Zealand has already announced $12.1 in spending to prop things up. It equates to about 4% of our GDP.

That amount is likely to grow substantially, and will add to borrowings. But that’s only small change in the international finance pond.

Across the Tasman: What Australia’s $189bn coronavirus economic rescue package means for you

The government has announced a second major economic rescue package worth $66bn, on top of an initial $17.6bn package and more than $100bn in emergency banking measures to prevent against a credit freeze.

Framed as a “safety” package, the second wave of stimulus ramps up support for small business and also includes a major boost to welfare recipients and for people who lose work as a result of the Covid-19 pandemic.

In total, the government has now committed economic support worth $189bn – almost 10% of GDP – and has also flagged more packages as the crisis unfolds.

UK Government: Support for those affected by COVID-19

On 17 March, the Chancellor announced an unprecedented package of government-backed and guaranteed loans to support businesses, making available an initial £330 billion of guarantees – equivalent to 15% of GDP.

This was on top of a series of measures announced at Budget 2020, the government announced £30 billion of additional support for public services, individuals and businesses experiencing financial difficulties because of COVID-19, including a new £5 billion COVID-19 Response Fund, to provide any extra resources needed by the NHS and other public services to tackle the virus.

Just announced in the US: Senate, White House reach $2 trillion stimulus deal to blunt coronavirus fallout

Senate leaders and the Trump administration reached agreement early Wednesday on a $2 trillion stimulus package to rescue the economy from the coronavirus assault, setting the stage for swift passage of the massive legislation through both chambers of Congress.

National Post: Trump and his children banned from applying to US$2 trillion stimulus plan

Together with Fed intervention, the proposed legislation amounted to a $6 trillion stimulus, according to White House economic adviser Larry Kudlow, or about 30 per cent of annual GDP.

The package will likely more than double a U.S budget deficit that was already set to hit $1 trillion this year before the outbreak. It also may not be the last infusion of government spending in response to the spread of the virus.

The US has had growing deficits and growing debt since the GDP in 2008:

As of February 2020, federal debt held by the public is 17.23 trillion and intragovernmental holdings were $6.02 trillion, for a total national debt of $25.3 trillion

 

At the end of 2018, debt held by the public was approximately 76.4% of GDP and approximately 29% of the debt held by the public was owned by foreigners. The United States has the largest external debt in the world.

https://en.wikipedia.org/wiki/National_debt_of_the_United_States

When the US package was announced the country was heralded as ‘the greatest country in then world’, as they tend to do. That may refer to the greatest debt in the world. That’s one thing trump has been biggest and best at, growing debt.

There’s some big numbers here, and this is just four countries.

Where will all this support package money come from? Are loans already secured?

 

Leave a comment

78 Comments

  1. Ray

     /  26th March 2020

    Saw this in a Tweet
    “Amazing coincidence that the solution to this unique new crisis is the pet policy you’ve been peddling for the past decade.
    What were the odds?
    Looking at you, fans of universal basic income, minimum wage hikes, wealth tax, etc”

    Reply
  2. Corky

     /  26th March 2020

    Yep, this is where the real crisis lies. We get over the virus and spend the next decade trying to stabilise what’s left of a wobbly world economy.

    A major natural disaster in New Zealand within this time frame..and we go under. A major global disaster and the world reverts to a hunter gatherer lifestyle. KFC, pubs and and a health service will be stuff of legends, in what will be known as the ‘before times.’

    Reply
  3. david in aus

     /  26th March 2020

    Luckily or unluckily, everybody is money printing at the same time. So the massive devaluation of the currency with rampant inflation will not occur in the short-term.

    The demand destruction and the inability and unwillingness to spend will cap inflation. Governments have no choice, the alternative is a depression.

    However, there will a price to pay long-term. Once the virus clear, there is a high probability of interest rates being below the inflation rate.

    The next 10 years will be the opposite of the last 30 years which has been characterised by rising financial assets and the corollary increasing inequality. Instead, nearly everybody will be becoming poorer, that being said, the gap between the rich and poor will reduce.

    The 1970’s will probably the most similar to the future. After a severe economic hit, inflation will pick up. Governments will need to default on the debts, the easiest way is through inflation and this time this policy there will be worldwide coordination.

    Those with financial assets, perhaps consider rotating to real assets.

    Reply
  4. Blazer

     /  26th March 2020

    The ‘money’ is created out of thin air.

    The U.S has a huge advantage in that the $U.S is default currency for international trade.
    Couple this with their domination of the IMF,World Bank and B.I.S and we have this situation today, where indebtedness,which is the cornerstone of Capitalism, has expanded to ludicrous,unpayable levels.

    Fiat currency in actual circulation is about 3% of the total ‘money supply’ in existence.
    The major OECD countries have undertaken Quantitative Easing(money creation)in tandem with currency swaps with the U.S.

    The NZ Reserve Bank has signalled Q.E of 30 billion to be spent into the economy.
    When this course of action was proposed by the Greens as an alternative to borrowing 10,s of billions from foreign financiers in the aftermath of the GFC…Key dismissed them as ‘barking mad’…’the Greens want to print money’!!

    Japan is the economy to look at regarding inflation/deflation due to monetary policy.

    Western countries try to contain inflation by a combination of interest rates and taxation device.
    The reality is real inflation is mirrored in the price of property.
    In a world awash with Q.E generated ‘money’ it is viewed as the only safe haven.

    Countries who run an ‘open’ economy have fuelled rampant, inflated property prices as citizens become tenants in their own countries.

    An obsession with GDP growth has masked the stagnation of the productive sector,real tradeable goods.

    In the U.S the financial sector is 7 times larger than the farming sector.

    NZ with its FIRE economy and irresponsible politicians has fallen victim to the same malaise.

    Until there is reform and a reset of the financial system ,a fiat currency collapse is inevitable.
    The end game for the current catastrophe appears to be a cashless society ,where all transactions are digital ,monitored by the central banks.

    The warnings of Eisenhower re the military/industrial complex have been ignored .
    Have a look at the U.S military budget and the influence of lobbyists and their agendas and you can see why we have developed such inequality and ask yourself….what does the future hold…for more of the…same.

    Reply
    • Corky

       /  26th March 2020

      I studied all this stuff decades ago. One thing I found amusing was I could talk to a socialist who was as thick as Phil Twyford’s hide, yet they could explain the monetary system from this perspective quite succinctly. They couldn’t tie their shoe laces properly, but boy did they know the problems with da Jews and America and money created from thin air.

      Reply
      • Blazer

         /  26th March 2020

        so is my post accurate or can you explain the OP question…more clearly/accurately?

        Reply
        • Kitty Catkin

           /  26th March 2020

          No, because he’s parroting your words and claiming to have known this all along, as usual.

          Reply
        • Corky

           /  26th March 2020

          I will hold off answering your comments. Why ? Because this isn’t a financial crisis yet. That comes later.. and yes, once we see how global economics deals with the situation, the answer will become quite apparent whether you have a case or not.

          Does Kitty understand what you are talking about? Maybe I could lend her my copy of
          The Protocols Of The Elders Of Zion?

          However, my favourite is Bill Coopers’s: Behold A Pale Horse. Inside you will find great procedures used for economic manipulation. Sadly, the authorities blew Cooper away.

          Reply
          • Kitty Catkin

             /  26th March 2020

            No thank you to the offer of the Protocols; it’s a plagiarised, fabricated mishmash of lies used by the Nazis as antiSemitic propaganda. That’s so well known that no one takes it seriously as a work. I have never bothered to read it.

            Reply
  5. David

     /  26th March 2020

    The spend will be dwarfed by the collapse in revenue if she goes the full 30 days. The difference we have here is the totality of the shutdown aside from the border of course which is free to import as many diseased folk as the planes will carry.

    Reply
    • Duker

       /  26th March 2020

      The only people allowed in are NZ citizens and permanent residents, they cant restrict their entry but they can restrict what they do when here

      Reply
      • Kitty Catkin

         /  26th March 2020

        They can now; people are being forced into hotels as soon as they arrive.

        Reply
  6. David

     /  26th March 2020

    People may be interested in the numbers forecast by Stanford University given the economic cost. In many ways we estimate the value of a life, road building, health costs, welfare payments, food safety etc. etc.

    https://www.dailywire.com/news/stanford-professors-coronavirus-death-rate-estimate-likely-orders-of-magnitude-too-high

    Reply
    • Blazer

       /  26th March 2020

      So the rates they are talking about 0.6-1.0% roughly are acceptable ‘collateral damage!

      Because if they are ,surely they would escalate rapidly if no vaccine was forthcoming….leading to …??

      Reply
      • Duker

         /  26th March 2020

        Thats the way its worked till now …viruses having been killing people in NZ for decades at that rate.
        Death from a virus doesnt distinguish from the fancy name we give it…the immune system works in much the same way.
        My father died after having both influenza ( yes had the vaccine too) and pneumonia viruses.( theres aroun d 12 different ones) The large hospital where he was for a day or so probably at that winter time would have a handful every day, many others never got to hospital and would have died at home from ‘the virus’ whatever they were

        Cant believe some people have been in a bubble about viruses that kill each and every year here and now have turned into ‘catastrophers’

        Reply
        • A new fast spreading virus with no vaccine available that has killed 20,000 people at least despite many countries taking drastic action to limit it’s spread is a catastrophe, especially in China, Italy and Spain, and it would be a far bigger catastrophe if every country just sat back and did nothing but say ‘but the flu and other viruses’.

          The flu is a known problem, that’s why one and a half million people were vaccinated last year and an additional 400,000 vaccines have so far been sourced to protect people who want to be protected this year. That people still die from it or related complications doesn’t mean we should do nothing about the flu or Covid-19.

          Reply
          • Kitty Catkin

             /  26th March 2020

            Good luck getting a flu vaccine at the moment with doctors in lockdown.

            No one would say ‘do nothing’, but as people keep saying, the people in Italy were on average 80 and had an average of 2.5 serious conditions each.

            99%+ of people who have it survive, and as we KNOW who’s at risk of being seriously ill, why not do the obvious and keep them protected., which wouldn’t ruin the economy ?

            Reply
            • Blazer

               /  26th March 2020

              we understand that you can’t catch the bus to the shops….but you can still ring an ambulance.

            • Kitty Catkin

               /  26th March 2020

              Dream on, if the neighbour can’t have an essential life-saving operation there’s sweet FA chance of anyone else being treated for anything.

          • Duker

             /  26th March 2020

            Have a Guess how many deaths so far in US attributed to flu ?
            Its 23, 000 and growing at 1000 per week. Thats just US which has less than 400 CV deaths

            Like I said some people are in a bubble about viruses that have been killing us for a long time
            23,000 so far this season ( since Oct) isnt even a ‘bad flu season’

            No its not a catastrophe unless you reckon the usual flu is killing a 1000 a week too, or 4000 a week 2 yrs ago during a bad flu season

            Reply
            • Kitty Catkin

               /  26th March 2020

              I think that that US has had more than 400, but take your point.

              How the PM can think that NZ will have more deaths than the rest of the world combined is beyond me. I haven’t seen her emoting over the 5-600 flu deaths each year or thinking that 230,000 people with it makes an emegency. 205 mild cases & 0 deaths is a crisis that will close the country down, 230,000 and 600 deaths is not that important.

            • Griff.

               /  26th March 2020

              Thats just US which has less than 400 CV deaths

              A few days out of touch .
              The USA now has 935 deaths.

              A week ago 244,517 diagnosed cases globally and 10,030 deaths,
              https://abcnews.go.com/Health/coronavirus-live-updates-china-reports-domestic-cases-1st/story?id=69679965
              Today 467,594 diagnosed cases 21,181 deaths .
              https://www.worldometers.info/coronavirus/#countries

              Duker and others are busy looking at where the ball was not where it is going.

            • Duker, the number of deaths in America was 1,027 as at March 26, 03:33 GMT.

              Frankly, you’re the one living in a bubble.

            • Duker

               /  26th March 2020

              Flu is still 1000 per week , well ahead of ‘that other thing’ according to CDC
              https://www.cdc.gov/flu/weekly/index.htm
              “Laboratory confirmed flu activity as reported by clinical laboratories continued to decrease; however, influenza-like illness activity increased. Influenza severity indicators remain moderate to low overall, but hospitalization rates differ by age group, with high rates among children and young adults.

              What is the CV deaths per week ?

              CDC are saying 543 cumulative ,could it be only 100 or less per week now ?
              https://www.cdc.gov/coronavirus/2019-ncov/cases-updates/cases-in-us.html
              as they exclude repatriation cases, as you should

            • Duker

               /  26th March 2020

              ABC doesnt have better figures than CDC which reports daily
              https://www.cdc.gov/coronavirus/2019-ncov/cases-updates/cases-in-us.html
              ABC doesnt have your 935 number either where does 1027 come from

              Would you like to retract your fake news claims ishmael and griff. Its easy to be a numpty in times like this and be easily led of non authoritative figures

            • Pink David

               /  26th March 2020

              “Duker and others are busy looking at where the ball was not where it is going.”

              I think Duker is going to come out on top in this one, and it’s not often I agree with him. The data being presented sucks. It’s massively misleading and is highly questionable. It’s a fugazi.

              Let’s look back at it in a couple of weeks.

    • Blazer

       /  26th March 2020

      ‘stock markets, but in the past month, repo markets where banks loan to each other; then commercial paper markets and money market funds; then municipal bond markets; and residential mortgages; and leverage loans (junk loans); and, behind the scenes and intensifying, high yield (junk) corporate bonds and so-called BBB investment grade corporate bonds.
      The latter junk corporate bond + BBB market in the US alone is valued at $6 trillion. Leveraged loans another $1.2 trillion. Muni bonds $4 trillion. Residential mortgages $11 trillion. All in trouble now. Plus Repos, Commercial Paper-money funds, and so on as well.
      And let’s not forget oil-commodity futures global price deflation, collapsing emerging market economy currencies, and even growing troubles in national government bonds like US Treasuries, Gilts (UK), Bunds (Germany) and others, many of which were already trading in negative rate territory.
      In short, the generalized financial markets collapse was a defining characteristic of the 2008-09 financial crisis. And it’s returned now with vengeance.
      Also returning is the desperate effort by the Federal Reserve (and other central banks worldwide) to stuff the growing black holes in banks, shadow banks, and corporate balance sheets with new liquidity (money injections) in order to try to prevent defaults and bankruptcies. A bank-corporate bailout has already begun—even before the banks fail. It is pre-emptive in 2020, unlike ‘after the fact’ as in 2008. Banks have not yet crashed and are being bailed out!
      The Federal Reserve in one week in mid-March injected $2.2 trillion in the form of $1.5T for the repo market and another $700 billion in Fed direct purchases of mortgage bonds and investor held Treasuries. It followed with unlimited further money to stave off collapse of the commercial paper-money market funds, the muni bonds, mortgage bonds, and reportedly to back up credit card and auto finance companies from their anticipated losses. The Fed also announced it would ‘swap’ US dollars for foreign currencies of other central banks in order to help their economies. The Fed has committed to $4T more in money injections to banks. And that’s in addition to the $2.2T already committed.
      In other words, bankers will be bailed out $6.2T, and that’s probably just a start. ‘-Dr.J.Rasmus

      Reply
  7. Duker

     /  26th March 2020

    ‘Guarantees’ arent expenditure in UK.
    “The Chancellor will make available an initial £330 billion of guarantees – equivalent to 15% of UK GDP.”
    https://www.gov.uk/government/news/chancellor-announces-additional-support-to-protect-businesses
    The simple answer is the money is being created in NZ by the Reserve Bank…the treasury issues bonds and the Reserve Bank buys them…its done that way to keep the borrowing out of ‘core crown debt’

    Reply
  8. Zedd

     /  26th March 2020

    ‘Where is all the money coming from?’
    > the usual places; the ‘bank of greedy selfish bastards; (USA Fed./Bank of England/Rothschilds/Rockerfellers/Caymans etc.) I could go on..

    btw: I saw a doco on AlJz yesterday, about the advent of ‘Global Germ warfare’.. what are they really saying here ?
    > Is corona one of these.. as was perhaps suggested, after MrT called it a ‘Chinese Disease’ & was later countered; perhaps a ‘bio weapon’ released by USA ??

    Reply
    • Pink David

       /  26th March 2020

      “the usual places; the ‘bank of greedy selfish bastards; (USA Fed./Bank of England/Rothschilds/Rockerfellers/Caymans etc.”

      Next thing you’ll be blaming the Jews.

      “”I could go on..”

      I don’t doubt it.

      “perhaps a ‘bio weapon’ released by USA”

      Is this your wet dream?

      Reply
      • Blazer

         /  26th March 2020

        so what exactly has he mentioned that has no possible basis?

        Reply
        • Pink David

           /  26th March 2020

          Every word.

          Reply
        • Gezza

           /  26th March 2020

          While there still seems to be some uncertainty among researchers as to exactly how SARS COV2 evolved to infect humans,(genomic information already known & studied) points to it likely coming from bats via an intermediate host (possibly pangolins),.

          The bio-weapon (or escaped from a lab) scenarios seem very unlikely, because the virus has features which not only indicate an opportunistic natural selection evolutionary origin but also, by their nature, rule out the likelihood of a laboratory or purposely engineered design.

          For one thing the strain from which SARS COV2 seems to have evolved was not known to cause serious disease to the host or humans, but biological weapons get developed from pathogens that do.

          That’s if I am correctly summarising the most articles I’ve googled on SARS COV2’s origin.

          Reply
      • Zedd

         /  26th March 2020

        ‘Next thing you’ll be blaming the Jews.’ sez PD

        OR are you suggesting that ?
        > Get a grip !

        Reply
        • Pink David

           /  26th March 2020

          No I’m not suggesting that. You have a history of posting anti-semitic tropes. You even managed to get 5 into a single post some time back. You are just posting age old, boilerplate conspiracy nonsense.

          Reply
          • Blazer

             /  26th March 2020

            facts are facts,nothing anti-semitic about facts..

            TIME LINE OF THE JEW-OWNED FEDERAL RESERVE BANK

            1791-1811: Rothschilds’ First Bank of the United States.

            1816-1836: Rothschilds’ Second Bank of the United States.

            1837-1862: Free Banking Era – no formal Central Bank through the efforts of President Andrew Jackson.

            1862-1913: System of National Banks through the efforts of President Andrew Jackson.

            1913-Current: Federal Reserve Act effects a consortium of privately held Jewish & associated banks called the Federal Reserve Bank. The largest shareholders of the Federal Reserve Bank are the Rothschilds of London holding 57% of the stock which is not available for public trading.

            On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. A smear campaign against McFadden ensued and he was poisoned 3 years later.

            Reply
            • Duker

               /  26th March 2020

              Total nonsense…I cant believe such blatant lies and anti semitism is even posted here.

            • Duker

               /  26th March 2020

              Its easy to find the shareholder banks of the various Regional Feds in the US. And they arent Rothschilds or jewish banks
              The main federal Reserve Bank in DC is a government entity, with government appointed directors much like our RBNZ.
              Nut jobs claim different and those with limited intellect believe them

          • Blazer

             /  26th March 2020

            @Duker which parts are wrong?
            And what is the makeup of Fed Reserve Governors…
            ‘The Rothschilds’ whole story is one of money, and it began in the 18th century. Their history is perhaps largely responsible for the modern belief that Jews control the world’s money supply, which is not entirely unrooted in fact. Throughout Christian Europe, it was common for institutionalized anti-Semitism to prohibit Jews from owning property; so Jewish businesspeople had no choice but to work in the fields of commerce and finance, where money could be kept liquid and easily transferred or hidden. By denying Jews the stability of property ownership, Christians unwittingly forced Jews of the day into great financial expertise.’…B.Dunning.

            Reply
            • Gezza

               /  26th March 2020

              Some claim the Rothschilds own half the world’s wealth. If they do, it’s only in the same way that you do. Anyone with an interest-bearing bank account owns shares in whatever funds their bank invests in. Those funds own shares in other funds and public companies, and so on. At some level, virtually every financial entity owns, and is owned by, any other entity, in every country. The notion that anyone could “control the world’s finances” is ludicrous.

              There is no longer any such thing as a monolithic House of Rothschild with connections to any significant number of all the scores of today’s independent Rothschild business ventures. The closest thing is Rothschilds Continuation Holdings AG, a Swiss company that manages interests in many Rothschild-founded institutions. There are no longer any Rothschild family members on its board (the last having retired in 2011), though about eight Rothschilds are believed to own stakes in it (like many holding companies, it’s privately held, so its records are not public). Its other owners include Rabobank and Hong Kong based Jardine Matheson Holdings.

              The Rothschild funds it manages now focus on mergers and acquisitions. Make no mistake, it’s a large and successful company; but with billions in assets, it’s a relatively small fish in the sea of world financial institutions with trillions in assets, including Deutsche Bank, Mitsubishi UFJ Financial Group, HSBC Holdings, BNP Paribas, Japan Post Bank, Crédit Agricole Group, Barclays PLC, Industrial & Commercial Bank of China, Royal Bank of Scotland Group, JP Morgan Chase & Co., and many others. Anyone trying to point the finger at the scattered Rothschilds as “controlling” world banks has an awfully tall order. That little factoid is about 100 years out of date.

              By my analysis, the Rothschilds are best thought of not as an evil shadow conspiracy, but as a great success story of rags to riches, Jewish slum to financing the defeat of Napoleon. The price of gold is fixed twice a day by five members of the London Bullion Association: Barclays Capital, Deutsche Bank, Scotiabank, HSBC, and Societe Generale, and they conduct their twice-daily meeting over the telephone. Today this is mere financial necessity, but until 2004, it was also a century-old tradition as great as the ringing of the bell at the New York Stock Exchange. The five distinguished representatives included a Rothschild, and they met in person in a paneled room at the London office of N M Rothschild & Sons. That ritual is now a thing of the past, as is the power of the world’s greatest financial dynasty.

              B Dunning
              https://skeptoid.com/episodes/4311

            • Pink David

               /  26th March 2020

              I know one of the Rothschild’s. If he ran the world there would be a lot more margaritas, and parties in New Orleans.

            • Gezza

               /  26th March 2020

              I’m curious why Blazer selectively quoted only that one paragraph from B Dunning’s 2012 article & podcast in that link, which is entitled:

              “Deconstructing the Rothschild Conspiracy”.

            • Blazer

               /  26th March 2020

              @G…because I am not anti-Semitic at all and was highlighting the reasons Jews have come to dominate financial institutions.

              I am definitely anti Zionist,all the same.

            • Gezza

               /  26th March 2020

              @ B. Do you believe Zionism & Jewish influence in financial institutions are linked?

          • Zedd

             /  26th March 2020

            oh really..

            Reply
            • Kitty Catkin

               /  26th March 2020

              My Jewish relations and ancestors weren’t paupers, they were reasonably well-off (and still are, I suppose) but being Jewish doesn’t make someone rich in itself. Some people seem to think it does.

            • Gezza

               /  26th March 2020

              That’s true. Historical anti-semtism has accused the Jews of being both too rich at other people’s expense & too poor at other people’s expense.

            • Blazer

               /  26th March 2020

              @G..’& too poor at other people’s expense’…like when,where?

            • Gezza

               /  26th March 2020

              In Europe, Russia, Britain. Why do you think they were associated with rats in Nazi propaganda? The filthy Jew, source of plagues & diseases. Common tropes of the past. Anything despicable was blamed on the Jews by anti-semites. Remember Fagin?

  9. Blazer

     /  26th March 2020

    no doubt about that.
    The formation of Israel and the Balfour Declaration =quid pro quo.
    Stanley Fischer until recently 2IC at the Fed was Chairman of the Bank of Israel.

    Reply
    • Gezza

       /  26th March 2020

      So … what do you think they are really up to … these Jewish bankers?

      Reply
      • Duker

         /  26th March 2020

        The german jews supported the central Powers as the Allies included Russia who was very anti jewish with pogroms where they looked the other way.

        Reply
      • Blazer

         /  26th March 2020

        Throughout history sought after resources have been coveted.
        The aim of Capitalist enterprise is to create a monopoly when and where possible.
        Anti trust laws and the Monopolies Commission are meant to deal with this.

        When the power to create money supply, coupled with the might to enforce your will is achieved ,the temptation to abuse it,is borne out by the actions of historical Empires.

        The U.S Federal Reserve is a private institution that largely controls the flow of credit for international trade.

        The huge costs of maintaining U.S hegemony and military dominance lead to Nixon taking the U.S off the Gold Standard.

        Ever since then inflation has ramped up ,and with the rise of Friedman economics and globalisation we have the situation today ,where virtually every nation is burdened with unpayable debt and a legacy of deficit spending.
        Covid19 is the trigger for the rise of an alternative to the $U.S as default currency for international commerce.

        How influential is the media and PR in informing the people about the realities of debt peonage.?
        Looks like the ‘American Dream’ is not what its cracked up..to be.

        This shell game is past its use by date.

        Reply
        • Gezza

           /  26th March 2020

          And the Jewish bankers & Zionism? How do they fit in with all that?

          Reply
          • Blazer

             /  26th March 2020

            Didn’t think much reading between the lines was necessary .

            Jews make up around 2% of the U.S population.Their influence at the Fed and the Wall St banks is way out of proportion to that .

            Funding is the name of the game,corporations,wars,Israel,bailouts…the latest gambit by the Fed,sidestep Treasury altogether…

            ‘The Federal Reserve, Treasury Department and banking regulators deserve congratulations for their bold, necessary actions to provide liquidity to the U.S. financial system amid the coronavirus crisis. But more remains to be done. We thus recommend: (1) immediate congressional action …. to authorize the Treasury to use the Exchange Stabilization Fund to guarantee prime money-market funds, (2) regulatory action to effect temporary reductions in bank capital and liquidity requirements… (NOTE–So now the banks don’t need to hold capital against their loans?) .. additional Fed lending to banks and nonbanks….(Note -by “nonbanks”, does the author mean underwater hedge funds?)…
            We recommend that the Fed take further actions as lender of last resort. First, it should re-establish the Term Auction Facility, used in the 2008 crisis, allowing depository institutions to borrow against a broad range of collateral at an auction price (Note–They want to drop the requirement for good Triple A collateral.) … Second, it should consider further exercising its Section 13(3) authority to provide additional liquidity to nonbanks, potentially including purchases of corporate debt through a special-purpose vehicle” (“Do More to Avert a Liquidity Crisis”, Wall Street Journal )

            Reply
          • Gezza

             /  26th March 2020

            Reading between the lines I see blank space.

            Some bankers are Jewish. Some are not. Some Jews are Zionists. Some are not.

            Bankers like to make money. That’s why they are bankers. So do stock market traders. Doesn’t matter what ethnicity or nationality they are, that’s what they want to do.

            Zionists dreamt of creating a homeland for the Jewish people. By far the most of them weren’t bankers. Eventually the Zionists succeeded in persuading the British & then the UN to let enuf of them settle in Palestine & to eventually, – thru purchases, terrorism, & guilt-tripping the WW2 victors & UN because of the holocaust – to seize & create an independent state & defend it against the Palestinian & other Arabs who tried unsuccessfully to kick them out & destroy them.

            The rest is history now & militant Israel-hating Islamist Hamas has failed to persuade the no longer interested Arabs to crush Israel by martyring Palestinians in uprisings & attacks on Israel – leaving the Zionists quite likely still bent on gradually establishing Eretz Israel (the whole of the ancient States of Israel & Judah), & ultimately costing the Palestinians their dream of an independent Palestinian state.

            Bankers didn’t do that. That has had more to do with Jared marrying Ivanka & her converting to Judaism. Imo.

            So, what am I missing that you see between the lines?

            Reply
            • Blazer

               /  26th March 2020

              If you have a financial system where created money is allocated to 1% of the population ,their ‘first user’ advantage ,disadvantages the other 99%..

              ‘Jews make up around 2% of the U.S population.Their influence at the Fed and the Wall St banks is way out of proportion to that .’

            • Gezza

               /  26th March 2020

              Yes, but even if it was or is, because Jewish bankers were or are still so prominent in banking, not all Fed Bankers or Wall Street traders are Jews.

              And how is this linked to Zionism in your view?

              In fact, what do you think Zionists want?

            • Blazer

               /  27th March 2020

              ‘not all Fed Bankers or Wall Street traders are Jews. ‘
              You are correct,there are a handful of token non jews high up in the big Wall St banks…JP.Morgan,Wells Fargo,Goldman Sachs,Citibank and BofA.

              Jew diligence will reveal Powell is the first non jew Fed chairman for decades…

              Zionist funding requires billions of U.S dollars.

            • Gezza

               /  27th March 2020

              Well if Jews are still prominent & prevalent in banking, it would follow that as a group they would be as wealthy as non-Jews in the Finance & Wall Street trading sectors, but they are still only a very small elite number of members of the US moneyed class & most Jews seem to be just ordinary Americans, lving ordinary lives, e.g. running small buinesses & stores.

              Many American Jews reportedly don’t even support Israel’s illegal behaviour & annexation & occupation – & they see themselves as Americans, not citizens or potential citizens of Israel.

              You seem tip-toe around the subject of these wealthy Jews & Zionism. They may not even all be Zionists. So, I ask again, what do YOU think those of them who are Zionists actually want?

            • Blazer

               /  27th March 2020

              ah,intense,rambunctious Gezza is back.

              I have mentioned before not all Jews are Zionists.


              Zionist funding requires billions of U.S dollars’…how hard is this to understand…really?

            • Gezza

               /  27th March 2020

              Most Americans overestimate US foreign aid as a share of the total federal budget. In the past, less than 1% of the national budget went to foreign assistance. As of fiscal year 2017, foreign aid provided through the U.S. State Department & USAID totaled $49.87.1 billion, or about 1.2% of total spending. It may have even reduced in total or been reprioritised under Trump.

              Billions in aid is provided (as both economic & military assistance) is provided by the US to numerous countries that are seen as advancing or protecting US strategic/business interests. In 2017, from what I can see, although the highest per capita, Israel was only the 3rd largest recipient of US military & foreign aid – behind Afghanistan & Iraq.

              There’s a large Jewish lobby in the US & there’s no doubt they are influential in ensuring the State of Israel is protected, because it is a key component of the US strategic reach in the region. But Americans by & large support Israel because of the strong Christian sentiment of so many Bible bashers, imo.

            • Blazer

               /  27th March 2020

              how are they defining ‘aid’ these days?

              ‘ only the 3rd largest recipient of US military & foreign aid – behind Afghanistan & Iraq.’

            • Gezza

               /  27th March 2020

              In fiscal year 2019, the US provided $3.8 billion in foreign military aid to Israel. Israel also benefits from about $8 billion of loan guarantees. Almost all US aid to Israel is now in the form of military assistance.

              While in the past it also received significant economic assistance this apparently stopped in 2007 because of its strong economy. .

  10. Blazer

     /  27th March 2020

    your comment about ‘bible bashers’is an interesting one.
    The topic of a nation of god fearing immigrants is a fascinating study,a paradox of the sentiments of the founding fathers.

    Reply

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