The Federal Reserve Just Started Printing Money Out of Thin Air to Bail out…
Normally, a central bank lends to banks, but emergency provisions have historically been used by the Fed to justify direct lending to “individuals, partnerships and corporations” in “unusual and exigent circumstances.” […] The United States government doesn’t have the money to make this loan. It is the Federal Reserve printing money out of thin air. It will be far from the last state or local government that asks for money since the lockdown has destroyed incoming tax revenues. The mad money printing is just not going to stop.
Fed chairman Jay Powell and the entire current Fed monetary policy committee, the FOMC, are going to go down in history as the most irresponsible stewards of a sound dollar the Fed has ever had amidst a long line of irresponsible Fed money printers.
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