bryan on Nostr: Characters: Janet Yellen - Secretary of the US Treasury Jerome Powell - Head of the ...
Characters:
Janet Yellen - Secretary of the US Treasury
Jerome Powell - Head of the Federal Reserve
Joe Biden - POTUS
NPCs - US Congress
A story:
Janet: Hey Joe, were fucked. Our treasury reserves are being rapidly depleted. Our financial obligations are substantially more than our revenue. Of course, this is nothing new, we have been fucked for decades.
Joe: Bumble Bumble, Blah Blah. But my re-election is at stake. God Bless America. I love dogs.
Janet: Joe, can you just put it together for a few moments and speak with the NPCs in the US Congress?
Joe: Congress? NPCs? Go Mets!
US Congress NPCs: Lets play a game of political chicken with the world's reserve currency in an effort to appease our donors. Why should we worry about the future? Most of us are nearly dead anyways and we have already spent decades plundering the system to our benefit.
Joe: Raise the debt ceiling or we will all be voted out of office!
US Congress NPCs: Hey Janet, we spoke to Joe. We are going to wait until the final moment, but have no fear, we will allow our country to add to its 32 trillion dollar deficit.
Janet: Thanks Guys, I was getting worried you were not going to let me issue even more debt to pay for the old debt and other obligations.
Janet to the World: Hello world, who wants to buy these US bonds? RISK FREE RETURN, come one, come all, buy our DEBT! All is good in the world, Congress said its okay!
*crickets*
Janet: Wait, nobody wants our bonds? What will we do?!?!
Janet: Hey Jerome, we have a problem. Despite us ensuring most 401k money gets dumped into bonds, we have no buyers for the new issuance. Apparently the gimmick is up?
Jerome: How can I help?
Janet: I know you run an independent for profit bank and already own a huge portion of our debt. But as you know, we are good for it and promise to pay up! Perhaps you could print more money to buy the bonds?
Jerome: But Janet, what about inflation!!!???
Janet: Jerome, print the money, buy the bonds.
Jerome: Consider it done!
Cast of Characters to US Citizens: Pat us on the back, we solved the problem again!!! We are the country's best and brightest!!!
Janet Yellen - Secretary of the US Treasury
Jerome Powell - Head of the Federal Reserve
Joe Biden - POTUS
NPCs - US Congress
A story:
Janet: Hey Joe, were fucked. Our treasury reserves are being rapidly depleted. Our financial obligations are substantially more than our revenue. Of course, this is nothing new, we have been fucked for decades.
Joe: Bumble Bumble, Blah Blah. But my re-election is at stake. God Bless America. I love dogs.
Janet: Joe, can you just put it together for a few moments and speak with the NPCs in the US Congress?
Joe: Congress? NPCs? Go Mets!
US Congress NPCs: Lets play a game of political chicken with the world's reserve currency in an effort to appease our donors. Why should we worry about the future? Most of us are nearly dead anyways and we have already spent decades plundering the system to our benefit.
Joe: Raise the debt ceiling or we will all be voted out of office!
US Congress NPCs: Hey Janet, we spoke to Joe. We are going to wait until the final moment, but have no fear, we will allow our country to add to its 32 trillion dollar deficit.
Janet: Thanks Guys, I was getting worried you were not going to let me issue even more debt to pay for the old debt and other obligations.
Janet to the World: Hello world, who wants to buy these US bonds? RISK FREE RETURN, come one, come all, buy our DEBT! All is good in the world, Congress said its okay!
*crickets*
Janet: Wait, nobody wants our bonds? What will we do?!?!
Janet: Hey Jerome, we have a problem. Despite us ensuring most 401k money gets dumped into bonds, we have no buyers for the new issuance. Apparently the gimmick is up?
Jerome: How can I help?
Janet: I know you run an independent for profit bank and already own a huge portion of our debt. But as you know, we are good for it and promise to pay up! Perhaps you could print more money to buy the bonds?
Jerome: But Janet, what about inflation!!!???
Janet: Jerome, print the money, buy the bonds.
Jerome: Consider it done!
Cast of Characters to US Citizens: Pat us on the back, we solved the problem again!!! We are the country's best and brightest!!!