The Federal Reserve Bank of New York says it will increase the size of its overnight short-term repurchase agreements, or repos, to $120-billion from the current $75-billion. In a repo, banks give bonds to the Treasury in exchange for cash with an agreement to buy them back the following day or shortly thereafter. They are the equivalent of overnight loans. The size of the loans have continually increased, and there is no end in sight. Because the loans are to be paid back to the Fed after a short period, they are said to not cause inflation. [However, if $120-billion loan one day is replaced by another $120-billion loan the next day, the result is that the constant money supply has been increased by that amount. Since the long-standing pattern is for the size of these loans to continually increase, the inflationary effect is undeniable.] -GEG
The Federal Reserve Bank of New York said Wednesday that it would increase the size of its overnight repo operations to $120 billion from the current $75 billion.
The Fed announcement came without explanation. Recent Fed offerings for the short term repurchase agreements, or repos, have been oversubscribed, meaning banks sought more liquidity than the Fed was prepared to provide.
On Tuesday, the Fed injected nearly $100 billion in combined overnight and slightly-longer term loans to banks.
If Democrats take control over all three branches of government, they plan to pass the Heroes Act that will allow a permanent Democrat majority. Illegal aliens would receive stimulus checks. Federal inmates with ‘health conditions’ will be released. States will receive a $500-million grant to release inmates.
Antifa leader Adam Rahuba tweeted to Trump: “If you do not concede by Sunday at noon, we will begin to block roads in conservative areas. Your supporters will not be able to go to work or go to the grocery store to feed their families. We are armed and will retaliate to attempts of vehicular homicide.”
New York Governor Cuomo says, if people are thankful for the sacrifices that seniors have made, as well as doctors, nurses and “essential” workers, they should show respect by isolating on Thanksgiving. He said, “Be alone physically. Be connected spiritually.”
Joe Biden and Senator Kamala Harris celebrated the news that President Donald Trump will allow General Services Administrator Emily Murphy, who received death threats, to begin the initial steps for a transition of power to Biden. Trump has not conceded.
The “second wave” of the “pandemic” is the excuse for Draconian lockdown measures, economic destitution, and sweeping police powers. Police turned water cannons as tens of thousands of people protested in Berlin against lockdowns. Meanwhile, the media either demonizes anti-lockdown protesters or ignores them altogether.
The CDC claims the purpose of isolation is to protect vulnerable people. However, housing a bunch of sick people together has already proven to increase death rates. The timeline to terminate the program depends on sufficient hospital capacity, vaccines, and/or when the so-called pandemic subsides.
San Bernardino, Orange, Ventura, & Riverside County Sheriffs will not enforce the curfew order. The Los Angeles Sheriff will take a voluntary compliance approach, will not make any arrests related to order. Several of the sheriffs are refusing to enforce the curfew, questioning the constitutionality of the edict.
The Erie County Sheriff and Health Dept. officials attempted to disperse a meeting claiming it was in violation of Gov. Cuomo’s new 10-person-or-less rule for gatherings. The crowd stood its ground and demanded the police leave. Law enforcement complied, apparently because they did not have an arrest warrant.
The Biden criminal-justice plan would slap crippling cost of consent decrees on police without any evidence of civil rights violations, and would expand consent decrees to prosecutors’ offices for prosecuting crime. Black Lives Matter, Kamala Harris, and Biden are silent on the topic of Black-on-Black homicide.
Some critics say she made unrealistic claims about the number of votes that were flipped. Powell said she plans to forge ahead with her lawsuit representing Americans “who had their votes for Trump and other Republicans stolen by massive fraud through Dominion and Smartmatic.”
At a press conference, Rudy Giuliani, representing President Trump, along with attorneys Sidney Powell and Jenna Ellis, described the extensive evidence in their possession of election fraud. Giuliani said that Biden was 700,000 to 800,000 votes behind Trump and the only way to catch up was to manipulate mail-in votes.
Rittenhouse faces charges of first-degree intentional homicide, reckless homicide and attempted intentional homicide. He faces up to life imprisonment if convicted. Cash bail was set at $2 million. All three of the men who Rittenhouse shot had violent criminal histories.
Howard Lichtman says that rejecting enforcement of victimless crimes unites the police with the people against the politicians. He says police can regain respect by focusing on the five main transgressions that create victims: murder, rape, assault, theft and trespass, instead of fighting victimless crimes.
An elderly woman in a nursing home is confused by being separated by a window when her son visits her. Loneliness and despair caused by Covid-19 policies have killed many Americans. It is easy to see how isolation of the elderly in medical facilities could cause death from despair. Where is the public outcry?
After the Republicans were doxxed, harassed, and threatened during a video conference, they caved in and certified the vote. On Wednesday, they rescinded their votes, citing bullying. However, the office of Michigan Secretary of State Jocelyn Benson says there is no legal mechanism for them to rescind their vote.
The software was created by Smartmatic and used in many countries including the US where is was embedded into vote machines made by Sequoia Systems. In 2007, In 2010, the software was acquired by a Canadian company called Dominion Voting Systems which made most of the vote machines used in the 2020 US election.
A large, randomized study out of Denmark concluded wearing face masks may not provide the protection health experts have claimed as the clinical trial found wearing surgical masks failed to cut the risk of being infected with coronavirus by half.
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The Federal Reserve raised the interest rate one-quarter of a percent. In response, the US dollar dropped by 1%, gold rose a bit, and stocks skyrocketed. Debt is soaring while the GDP is falling, which is the forerunner of inflation and depression at the same time.
G. Edward Griffin reveals why the bankers are flooding the economy with money in anticipation of a global collapse. He poses thought-provoking questions about how President Trump was elected, his relationship with Henry Kissinger and George Soros, and his reversal on campaign promises and early accomplishments.