What Else Is In The Relief Package, Foreclosure King Steven Mnuchin Will Bankrupt The United States (Video)
What Else Is In The Relief Package, Foreclosure King Steven Mnuchin Will Bankrupt The United States Video by Silver Report
Many we’re under the impression that this was a corporate bailout as the centerpiece of the proposal was the $400 billion + for the struggling industries stricken by a drop in demand.
The language they have been using is carefully crafted as the true intentions for this money will put the US in a precarious position and had the people known what this money was for or what risk it entailed they probably would be mad. Corporate bailouts are bad enough especially when it is for industries who skirt paying taxes and reap enormous profits but the $450 billion is for the Federal Reserve (not a real federal institution) as they plan is to use this money to leverage 10X to backstop the feds unprecedented corporate bond-buying programs. Meaning the US treasury will be on the hook for 4.5 Trillion dollars in exchange for worthless corporate bonds. The quality of the assets the Fed has been purchasing is junk due to the fact that most of these companies are already on the edge of failure from a near-total shutdown in demand. In short, the Fed intends to double their balance sheet leaving the Taxpayers indebted for the Corporations which wasted their cash on stock buybacks. That’s not the only anomaly in this relief package…