[HN Gopher] Cash Flood Drives Use of Fed Reverse Repo to Record $1T
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Cash Flood Drives Use of Fed Reverse Repo to Record $1T
Author : CyberRabbi
Score : 30 points
Date : 2021-07-30 19:59 UTC (3 hours ago)
(HTM) web link (www.bloomberg.com)
(TXT) w3m dump (www.bloomberg.com)
| sschueller wrote:
| I don't like Peter Schiff [1] and I think he's a selfish prick
| but I believe he is right when he says we are just pushing the
| hot potato down the road. This won't end well.
|
| [1] https://insideparadeplatz.ch/videos/the-entire-monetary-
| syst...
| the-dude wrote:
| He is predicting doom for over a decade.
| coralreef wrote:
| I don't care for Schiff, but central banking and the modern
| monetary system is fundamentally problematic. Just because we
| haven't experienced a black-swan event doesn't mean that it's
| not possible, whether that be a market crash or a pandemic.
|
| Some cycles take longer than decades to play out. Some things
| take hundreds of years. First principles thinking (and common
| sense) tells us that no party should be able to create money
| out of thin air, it almost breaks physics, but it doesn't
| because the value comes from diluting every else's money. It
| breaks the social contract by taking from others without
| consent or transparency. And so no one complains because they
| don't notice it happening; my accounts stand as complete as
| they were yesterday. A powerful tool that over time,
| inevitably gets abused and mismanaged.
| epicureanideal wrote:
| Sure, but the government has also been kicking the can down
| the road for over a decade. Interest rates get lower and
| lower, asset prices get pushed higher and higher...
| fakesheriff wrote:
| Demographics = destiny.
|
| When an older generation with no concept of civilization
| wields political power, it does so in its own narrow self
| interest.
|
| We must pay $1.5m for a shitty 3BR apartment, $300k for a
| college degree, and $600 for insulin so that Boomers may
| live comfortably in retirement.
|
| The frustrating part is that only half of Boomers _will_
| live comfortably in retirement. The ones that do will be
| _very_ comfortable. The others will stand on their
| arthritic knees 8hrs a day bagging groceries, trying to
| offset the precipitous decline in the purchasing power of
| their social security checks.
|
| Boomers are so selfish they don't even look out for people
| in their own cohort. The Boomer generation is an abject
| civilizational failure.
| applepple wrote:
| Clearly he was right. Not sure how else to call what's going
| on now. Many people now are doomed. You just don't hear about
| them - This makes their suffering worse, not better. It's a
| matter of time before it reaches the rest of us. The rot has
| already eaten away the core of the economy.
| CheezeIt wrote:
| Yet we now have rock bottom interest rates _and_ a 0% reserve
| requirement.
| spinchange wrote:
| And a global health pandemic that's harder to peg than
| inflation
| SAShithole wrote:
| And at some point he is bound to be right desu.
| Afforess wrote:
| Predicting recessions is easy. Economists have predicted 18 of
| the last 4 recessions.
| ur-whale wrote:
| If there's one thing Economists are amazingly bad at it's
| predictions.
|
| Not that it prevents them from producing metric tons of it.
|
| And why shouldn't they?
|
| People gobble them up and never hold them accountable for
| getting it wrong.
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(page generated 2021-07-30 23:01 UTC)