“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.
“We’re giving assistance cheques to 175 million Americans. 175 million Americans. It’s a humungous number.” -Larry Kudlow, Director of the United States National Economic Council.
Today, there are more digital dollars and credit than paper dollars (cash). If too many people want their money in physical cash, the banks can not deliver.
Kristalina Georgieva thinks so.
The Bureau of Labor and Statistics report for initial jobless claims shows a jump to 3,283,000 from 282,000
The wealth that past generations has saved has been consumed. We have eaten our seed corn.
“The Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning…”
“We are looking at sending checks to Americans IMMEDIATELY. .. Now, and I mean now. In the next two weeks.” - US Treasury Secretary Steve Mnuchin
