What “upsets” me is lazy, uncharitable thinking. I’m not an expert in Fed policy. Far from it.
“Just curious, do you LIKE that the Fed just gives money to bankers, for them to just use whoever they please?”
This is a strawman framed in the most uncharitable way possible. The reader is led to believe the Fed prints money and simply gives it to bankers. We both know that isn’t true. There are quite good non-nefarious reasons that a dividend is paid to Member banks. You failed to even mention even one.
The Fed buys treasuries in open market operations. No idea where this unsubstantiated markup idea comes from. Why would it pay above market rates? Luckily, again - no evidence. Simply asserted than assumed. You then move to defend these claims by resorting to the fact that some of it happened once 80 years ago.
Using words with pejorative meanings like “cartel” does not lend credibility to your arguments.
Wouldn’t it be scary if the Government was incarcerating the Japanese in America in 2025 without cause? You laugh, but it’s certainly possible. Don’t forget, they already did it once!
You are relying on the credulity of others to push a narrative.
I’m not an expert in Fed policy either, but I have common sense.
I never claimed the Fed “just prints money and gives it to bankers.” Seems like you’re the one straw-manning, Mr. Projection. I said something very specific: The Fed pays dividends to member banks, and what they do with that money, is not only inflationary by nature, but it is also used for purposes the American people would more-than-likely find objectionable.
“No evidence for markups.” Okay, again, please, rebut this with your own piece, which Polymarket commented on, without you asking, and TOLD YOU they’d publish a rebuttal if you wrote one. I’d jump at such an opportunity.
Pejorative? The word “cartel,” definitively, is a perfectly accurate representation of what the current banking system is. From Google: “cartel - an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.” How does that NOT describe the current banking system?
Japanese? What about the people that are currently being incarcerated without trial and have been for decades, in Guantanamo Bay? Do those people NOT COUNT because their ethnicity isn’t Japanese? Your point is moot here, for this reason.
Again, it seems like the only thing you actually disagree with me on, correct me if I’m wrong, is that the Fed is buying debt at a markup. Fair enough; so publish an article about it here in The Oracle. I don’t know how compelling it would be - it sounds like your only argument against it is nO eViDeNcE - but who knows, maybe you’ll make it interesting.
What “upsets” me is lazy, uncharitable thinking. I’m not an expert in Fed policy. Far from it.
“Just curious, do you LIKE that the Fed just gives money to bankers, for them to just use whoever they please?”
This is a strawman framed in the most uncharitable way possible. The reader is led to believe the Fed prints money and simply gives it to bankers. We both know that isn’t true. There are quite good non-nefarious reasons that a dividend is paid to Member banks. You failed to even mention even one.
The Fed buys treasuries in open market operations. No idea where this unsubstantiated markup idea comes from. Why would it pay above market rates? Luckily, again - no evidence. Simply asserted than assumed. You then move to defend these claims by resorting to the fact that some of it happened once 80 years ago.
Using words with pejorative meanings like “cartel” does not lend credibility to your arguments.
Wouldn’t it be scary if the Government was incarcerating the Japanese in America in 2025 without cause? You laugh, but it’s certainly possible. Don’t forget, they already did it once!
You are relying on the credulity of others to push a narrative.
I’m not an expert in Fed policy either, but I have common sense.
I never claimed the Fed “just prints money and gives it to bankers.” Seems like you’re the one straw-manning, Mr. Projection. I said something very specific: The Fed pays dividends to member banks, and what they do with that money, is not only inflationary by nature, but it is also used for purposes the American people would more-than-likely find objectionable.
“No evidence for markups.” Okay, again, please, rebut this with your own piece, which Polymarket commented on, without you asking, and TOLD YOU they’d publish a rebuttal if you wrote one. I’d jump at such an opportunity.
Pejorative? The word “cartel,” definitively, is a perfectly accurate representation of what the current banking system is. From Google: “cartel - an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.” How does that NOT describe the current banking system?
Japanese? What about the people that are currently being incarcerated without trial and have been for decades, in Guantanamo Bay? Do those people NOT COUNT because their ethnicity isn’t Japanese? Your point is moot here, for this reason.
Again, it seems like the only thing you actually disagree with me on, correct me if I’m wrong, is that the Fed is buying debt at a markup. Fair enough; so publish an article about it here in The Oracle. I don’t know how compelling it would be - it sounds like your only argument against it is nO eViDeNcE - but who knows, maybe you’ll make it interesting.