George Floyd's initial crime was trying to pass off an obviously fake $20 bill. For the moment ignore whether Chauvin targeted him due to race, ignore that he taken a lethal combo of meth and fentanyl, etc.
Floyd's initial crime was trying to use an obviously fake $20 bill.
The government does this every day.
Quantitative Easing (QE) is where Powell and his buddies at the Fed create US dollars out of thin air without any real effort or labor. They then buy up bonds and drive down interest rates on those bonds, which has kept alive zombie corporations, which are companies that would go bust if they didn't have the Fed buying up their bonds and/or keeping interest rates low. This is NOT capitalism, at least not in the original philosophy. What do we have? Corporatism? An unholy alliance between big business and the government merged as one?
Recently bankrupt Hertz announced late this month that they are going to buy 100,000 Teslas and they only have the ability to do this, because of QE - magical money creation at the fed to buy up their bonds.
Hertz's $4.2 Billion dollar order of new Tesla cars sends the company's net value rising more than $200 billion in the 8 days after the deal was announced to a total market cap of over $1.125 Trillion. Why does so much money flow into stocks? Bonds give crappy interest rates due to QE, so investors are buying less bonds and more stocks.
Along with it, Elon Musk's net worth is now above
$300 billion and thanks to QE in large part.
Granted most of Elon Musk's wealth is in the form of stock in his company, not actual cash in his bank, and he can't sell off his stock without losing control of his company, but Elon Musk advocates against raising his taxes as he flees from California to Texas.
I guess he has a great argument, why should he have to pay more money into the system, when the government just creates money out of thin air anyways?
George Floyd prints money out of thin air and the cops get called on him, while on the other hand the Fed creates billions of dollars of money out of thin air constantly.
In fact, Powell is reducing the amount of money that he creates out of thin air and
he might lose his job for it. Because the powers that be demand a never ending supply of money printing to keep the zombie corporations alive.
Had George Floyd worked for the Fed, the system would have applauded him.
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