04-29-2020, 01:07 PM
Seriously, Fed Chairman Jerome Powell just upended the foundational principal of economics, supply and demand.
He said, and I can't even believe this, that we have a "limitless" pot of money. If it is limitless, by definition, there is no reason everyone can't have as much as they want. I guess money is like oil now. There is so much supply it has no value. This while announcing a $500 Billion direct lending facility to corporations! They don't even make them go to banks for their money now. Apple can just go to the Fed and ask it to print as much money as it wants now!
When do we start getting paid in gold coins and IOUs for them?
He said, and I can't even believe this, that we have a "limitless" pot of money. If it is limitless, by definition, there is no reason everyone can't have as much as they want. I guess money is like oil now. There is so much supply it has no value. This while announcing a $500 Billion direct lending facility to corporations! They don't even make them go to banks for their money now. Apple can just go to the Fed and ask it to print as much money as it wants now!
When do we start getting paid in gold coins and IOUs for them?