Discover and read the best of Twitter Threads about #cash

Most recents (7)

1/ AT ONE TIME, EVERY PIECE OF #PAPER MONEY WAS BACKED BY #GOLD. REMEMBER… FOR EVERY 20 DOLLAR BILL… THERE WAS $20 WORTH OF GOLD IN A #GOVERNMENT VAULT. NOT ANYMORE.

TODAY, GOVERNMENTS CREATE #CURRENCY BY FIRST CREATING BONDS OR TREASURY-BILLS.
2/
THESE #BONDS ARE SOLD IN THE #MARKET… GENERATING FUNDS FOR THE GOVERNMENT THAT ISSUED THEM.

LARGE #BANKS BUY U.S. BONDS TO FLIP THEM… SELLING THEM TO THE #FEDERAL RESERVE AT A PROFIT -- THIS IS THE MAGIC MONEY MACHINE. #FED
3/ YOU SEE… THE FED IS AMERICA’S #CENTRALBANK. BUT IT DOESN’T HAVE ANY MONEY, NO #CASH ON ITS BALANCE SHEETS.

WHEN A BANK BUYS A BOND AND TAKES IT TO THE FEDERAL RESERVE, THE FED SIMPLY SAYS “THANK YOU MR. BANKER, HERE’S THE PRINCIPAL AND SOME #PROFIT.”
Read 12 tweets
#Brexit ALREADY costs UK £1bn pw as we Hit Holidays! @GoldmanSachs put that lower at £600m. but I'm looking at 2+% less GDP (than would have been); more Govt Debt (+interest); the growing impact of #Brexodus on jobs/taxtake; £devaln.&inflation creep, reducing Property values.1/20
@GoldmanSachs Am puzzled & mortified? that UK's so-called Major Political Parties @Conservatives @UKLabour seem umbilically disconnected? from the financial IMPACT of their recent (let's say) 'accidental collusions' and Brexit-Birth-Giving! Why the co-incidental & costly numeracy lapse? 2/20
@GoldmanSachs @Conservatives @UKLabour Assuming that (eg) @bankofengland @hmtreasury @ICAEW @The_IoD @cbicarolyn @FrancesOGrady are aware of UK's #Brexit financial haemorrhage? eg Govt Debt, Jobs/Tax, Businesses (all sizes), Individuals - there may be varying estimates? but agreement that a HUGE hit is ongoing! 3/20
Read 25 tweets
I've been reading Eye The Spy lately and he is convinced that #Epstein is far, far bigger than we yet realize. So I've been #reviewing what is known about him. I think I may have figured out what he is #REALLY doing.
#QAnon #QArmy #QNN #WWG1WGA #PatriotsUnite
#GreatAwakening
Yes, of course he was #blackmailing lots of people. But there is more to it. He was also making lots of #Money. And the #Blackmail #victims were not #flipping which means they were also #earning something somehow.
#QAnon #QArmy #QNN #WWG1WGA #PatriotsUnite
#GreatAwakening
So I think he had them all running #scams of one sort or another. Small fish, just #invested with him. He stashed the money somewhere simple and safe, and it #earned without a lot of work.
#QAnon #QArmy #QNN #WWG1WGA #PatriotsUnite
#GreatAwakening
Read 22 tweets
As new #payment methods continue to emerge, our “2019 Diary of Consumer Payment Choice” highlights both the important role #cash plays in our economy while also illustrating the significant role of competing payment methods and #technologies: sffed.us/cashdiary
#Debit cards were used the most, accounting for 28% of payments. #Credit cards accounted for 23% (up 2% from 2017).
Consumers used cash in 26% of transactions (down 4% from 2017). However, #cash was used heavily for small-value payments, representing close to half of payments under $10.
Read 6 tweets
I also find this argument persuasive.

THREAD on #CBDC & #cash

Having a central bank digital currency alongside cash is effectively like the govt offering 2 different competing monies, b/c they have different characteristics, risk profiles, etc.
Cash is better for privacy, not subject to systemic digital failures, & accessible to all (even those who can't afford digital svcs).
CBDC may be cheaper for govt to offer, enables greater use of negative interest rates as a tool of monetary policy, makes money laundering/terrorist financing more difficult, reduces friction in txns, & enables financial inclusion.*

*Just stating args-don't necessarily agree.
Read 22 tweets
@rlefraim wrote, PRESIDENT TRUMP DID THE RIGHT THING. NANCY PELOSI MADE A FALSE ACCUSATION 5 MINUTES INTO A MEETING, AND THE PRESIDENT RESPONDED BY SAYING, THAT ENDS DISCUSSION.

PELOSI KNOWS ABOUT COVER-UPS.

Like what she and her friends did about Benghazi (2
#Pelosi #Benghazi
Like What they have done to hide Hillary Clinton's illegal server and obstruction of justice by destroying evidence. 2) #HillaryClinton
#ObstructionOfJustice #illegalserver #bleachbit #destructionofevidence
Like how Obama colluded with Russia by promising he would be more flexible after reelected - in exchange for what, we can only guess. #Obama #Russia #flexibility
3)
Read 7 tweets
Some analysts seem to think, that #USDJPY must decline when/if #SP500 is to decline or crash. That is not the case! Observe yellow markings #HZupdates
#USDJPY and #Gold have strong inverse relationship. Both have formed triangles since 2015. Now - main direction will continue. USDJPY towards ~154 - and Gold towards ~800 USD #HZupdates
#Gold did bottom in 2015 - but only for a bounce! A "ZigZag-pattern" is defined by A-B-C waves. A from 2011-15 = 5 waves. B from 2015-19 = Triangle (abcde). Now 5 waves down in wave C. Decline may be very strong! #HZupdates
Read 10 tweets

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