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'Lining Up at the Trough': Federal Reserve to Offer Corporations $500 Billion No-Strings-Attached Bailout Loophole

Originally published at http://www.commondreams.org/news/2020/04/28/lining-trough-federal-reserve-offer-corporations-500-billion-no-strings-attached

Congress provided 400 million dollars which allowed the federal reserve to create 4 trillion dollars to purchase Industrial Corporate bonds, state issued bonds, and local government bonds. That is why the complaints of Illinois governor Pritzger asking for the US treasury to send Illinois money is something I do not yet understand.

Illinois has about 17 Billion dollars of high interest bonds issued already could be replaced with low interest bonds from the federal reserve now. Plus add three more billion to pay for C-19 epidemic in the state and a bit set aside for education.

Powell can do this for Illinois and other high debt states.

Some of the 4 trillion goes to wall street traders, banks, a couple central banks over seas and foreign banks. 2009 rescue formula part deuce.

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This reminds me of the story where Jesus went to a temple of God and smashed the tables that the money lenders had set up outside.

Lord, if you’re listening, smash these greedy bastards, and make examples of them all.

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Well, it seems that even if Congress gets a good idea for the common good going, some lobbyists or soulless elected ones can give away the nation to the already disgustingly rich.
How do you solve this???Oh—one way is to reverse what the corporatoims are doing to the People.
For example, more and more companies speak of the future where computers and robots will eliminate the need for so many workers. It’s kind of like what happened when the Looms came to America and we had kids as young as 5 working on looms or collecting cotton pieces, or whatever horrible jobs brought people away from Nature and into dirty dank work places with little pay.

So, here goes, Remember how Watson the computer beat the humans all the time on JEOPARDY? What IF ( a great way to find an answer : ) ------what if the world was reversed, as CEOs seem to want to have fewer people working so they can have more money!

WHAT IF, the CEOs were replaced by computers like WATSON? They have no need for money or even a salary, and maybe even the corporate boards could be made up of a the right people if we could just ask a great question: >>>>>WHAT IF the People were more important than Money? Ethically programed CEOs—no need for big pay, or a mistress, or big vacations, big places to live in —big bonuses or big egos----THINK of IT! This is the way to make both People and a nation successful in sharing wealth equally. What could be a better way to bring back a Democratic Republic?— One for the ages—and for THE PEOPLE( All the People! : )

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Capitalists view workers as burdensome expenses—economic inefficiencies, intractable though they are—better wrung from the gears of commerce than tended to or nurtured in any way.

And yet, they rely on us to provide the economic kinetic impetus, the velocity of money as an economist would say, to turn those gears of commerce through a wasteful diorama of ever increasing consumption. Efficiencies sought in the cause of inefficiencies gained. Misery endured in the pursuit of satisfaction never enjoyed.

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The Fed is buying the bonds. If the government had done it we could force issues. But the Fed is doing it. So the people have nothing to say. No stakes. No noise from the slaves. No revolts from the peasants. Nothing Government can do. Not that government would have to do anything anyhow. Because we are too stupid to understand it in the first place. Just watch the reality TV show that y’all believe is life and wallow in our ignorant stupor. Maybe we can find some more crises actors to be outraged about. Maybe we can keep complaining about Trump without anyone ever understanding the grotesque perversion that our nation has been turned into. So much more important to pay attention to the temper tantrums of the right and remain willfully blind to how the opportunists in Washington hide behind it as an excuse to do nothing. While an impertinent gaggle of socially clawing attention wh*res play truth tellers in a world where truth is only what they can sell for a profit. Like the truth of who dumped who. Who’s having who’s baby. Who said what about whom. Just keep playing in the stench of the moral rot. Never giving a glimpse of the higher understanding of why or how things work. Never call it a lie if it makes money. Then just pretend as if it’s only a point of view to make more. The real sickness that has been destroying us. We should all be grateful for our indenture. What would we do without such benevolent masters?

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These loopholes were forseen and put into the bill by design. They are not oversights or something someone suddenly discovered in the language.

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I remember all of the little corner grocery stores when I was younger. 2-3-4 thousand sq. ft. Small. There a few left, and serve their neighborhoods well.

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And still Americans spend two full years out of every four obsessed with the question of who “they” are going to “elect” to be their next Fuhrer. As if it matters. As if we possess even the slightest ability to prevent this. Bread and Circuses. We are not going to prevent this, and similar travesties, that are inflicted upon us on by an unseen cabal. There is nothing we can do when narcissistic pscho-/sociopaths have infiltrated every part of our lives, including our “free” elections. When loopholes can be inserted and the so-called “will of the people” circumvented this quickly and easily, it’s time to face what has been our reality for a long, long time: the only real power left that you and I still possess is to whine and whimper while we’re once again fucked in the ass by the colossal cocks of the corporate cabal, or to lie back and take it silently and stoically. Or to continue to do what most of us have been doing, and dissociate, because the magnitude of the trauma is greater than most of us can bear. (Or carry on day-to-day lost in the fog of cognitive dissonance, its less virulent manifestation.)

And nobody seems to notice, nobody seems to care…

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Forgive my theological hobby, but that’s one of the top three really weird stories about Jesus. He gets pissed for some strange reason in the one about the fig tree, too. And I never understood why those demons had to be sent into a nice family of pigs, either. Don’t get me started…

Suffice it to say: My Sunday School teacher didn’t much appreciate my questions about Jesus’ quirks.

In my eyes this sequence of half-trillion wealth-transfer “tranches” belongs to Nancy & Chuck as prime thumbs-up grinning winning co-conspirators. I heaved a sigh of relief when at least one beloved member of Congress, on the latest of these insults, actualized her indignation (and ours, thank you AOC!) by voting against the goddam thing. It’s not much, it’s all the democratic satisfaction we’ll get from this crooked set-up, but at least it was an actual vote against, for once!

I’m attempting to convey not so much an accurate representation of affairs, but my most enduring, emotionally exhausting impression from this disgusting episode of congressional abnegation, resignation in the face of viral and administrative catastrophe. I get so mad at that picture of Nancy & Chuck doing this, it makes my fingers shake so it’s hard to find the right keys (well… that and inhabiting a slightly creaky bodily jalopy). The Dims persist in a campaign of damaging themselves with amazingly wanton abandon now, imho. They might as well call a conference with the Ill Duce and announce they’ve agreed to cancel the Constitution, for now. He can have it.

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Decades and decades of malfeasance has been under reported by lamestreet media and the other corporate news on TV and internet. Why? Stupid question cause all of us here on Common Dreams know the answer. They are the 1% and look out for each other. But we do have report after report come out and tell the story and a FRICKEN NOTHING GETS DONE, NO ACCOUNTABILITY. Ralph Nader was right in 2000 to call them a duoploy both Repubs and Dems are corporate thugs.

Now there are junk food outlets, 7 Elevens, in poor neighborhoods are the only place close to home to job.

Hi RockyMountainView:

Thank you! Your definition was wonderful and inspiring----and so— a bit of Dylan Thomas in return:
“Do not go gentle into that good night—rage, rage against the dying of the light!” : )

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It’s time we retire the phrase “public servant” since the Public is now in no better than 5th place behind Self, Corporate, Wealth, and Israel’s foreign policy objectives .

A good list; I would suggest you forgot the NRA and probably others (e.g. anyone of significance on their donor list) …

But your point is well taken. Whatever the list, “public” is at or near the bottom.