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75 sats \ 9 replies \ @Bell_curve 8 Apr \ on: Hardly Anyone Is Short Treasuries; Perhaps They Should Be econ

Bond prices have been stagnant or negative for 2 years

And, they were the cause of bank failures in 2023, yet the US govt says they are riskless!

Hold up, are you saying people from the government might be deceptive or gasp... Liars?

I have a stupid question: how can there be bank failures when the federal reserve act was passed in 1913 to prevent bank failures?

What am I not seeing?

10 sats \ 5 replies \ @siggy47 OP 8 Apr

I know. Right? 😀

75 sats \ 4 replies \ @Bell_curve 8 Apr

And we can make a strong case that the federal reserve act is unconstitutional.

The whole convoluted arrangement is ridiculous

10 sats \ 3 replies \ @siggy47 OP 8 Apr

Definitely. The big banks own the fed. Once they lose power, maybe the argument might have a chance. That's a long ways off.

75 sats \ 1 reply \ @Bell_curve 8 Apr

The best time to repeal Federal Reserve Act was during the Great Depression

Also… An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes

To furnish an elastic currency?

What does elastic mean? lol

10 sats \ 0 replies \ @siggy47 OP 8 Apr

Elastic? That's for sure!

0 sats \ 0 replies \ @Bell_curve 8 Apr

The best alternative but also unlikely is to increase money supply by 2 percent every year regardless of crisis or emergency.

Set it and forget it.