About that trillion-dollar platinum coin idea that could help solve the manmade debt ceiling crisis? Yeah, the feds just killed it. Sorry, Joe.
Federal Reserve Tag
It might not have been must-see television, but our federal reserve chairman’s speech Monday spurred a stock-market surge. What the hell did he say — and what does it mean? Decoding Wall St.’s Brian Sozzi breaks it down.
$25 or $50: which is greater? Obviously, anyone in their right mind would rather have the greater sum of money. But because of inflation and the actions of the Federal Reserve, a person could hold less wealth and have more “money power.”
The numbers for the 2008 Wall Street bailout have, until now, been non-existent. Everyone knew that the federal government dropped a lot of money to keep the banks afloat, but now that Bloomberg has dug up the actual number, it’s staggering to consider.
As a result of one of Congress’ more pointless bills, there is now more than $1 billion worth of dollar coins just sitting around in a Federal Reserve vault. Why? Because you don’t want them.
How severe is our nation’s impending debt crisis? It’s so imminent, and so dangerous, that even former Federal Reserve Chairman Alan Greenspan says we should let the Bush-era tax cuts expire.