Re: Fed on brink of fifth(?) round of quantitative easing
As franky1 has explained, no money is actually changing hands. They are simply writing off liabilities. You know, just like they did for billions in PPP loans fraudulently taken out by billionaires. 
but the government doesn't owe the banks the loan money. the borrowers do. Quote
I assure you it happens all the time. Only around 3% of new money is printed by the government. 97% of new money comes from regular banks being fractional reserve and creating new money out of thin air every single time they hand out a loan, a mortgage, a line of credit, and so on, just like when they handed out these student loans. If anything you should be angry about the student loans existing in the first place since they created a whole bunch of new money out of thin air.
well as long as people were paying their loans back and getting punished if not then i had no issue with the student loans existing. but i didn't realize they also "created a whole bunch of new money out of thin air". seems like a ponzi scheme. maybe that's why banks never seem to run out of money to lend out? but they sure do take repayment seriously. you would think that if it was so easy to create they wouldn't get so upset if someone didn't pay it bank.Quote
But people aren't? Billions to bail out banks which are worth hundreds of billions, but let people be made homeless and starve because fuck them? Lol.
i'm in favor of a universal basic income so people can at least live in some level of dignity. but the usa government will do everything it can to not allow that to ever happen. they don't want everyone to have a basic shelter and food and such. if that happened then the usa would be destroyed forever i guess. it can't be the usa and have that.Quote
And now that banks know they can do anything they like and still get bailed out, they won't worry about playing by the rules at all.
don't they come up with new regulations after such disasters? but with this student loan debacle, seems like they just want to keep pumping out unenforceable student loans, aka, gifts of money.