by They should rather be talking about what they can reasonably get thru reconciliation…The Fed will not purchase “the coin” with reserves… The “coin” doesn’t pay a coupon where is the Fed going to get the USDs to pay the IOR or the RRP rate on the newly issued reserves? Fed doesn’t operate under an appropriation… they factor the govt guaranteed interest bearing securities they buy when they add reserves…Quit whining and pass something via reconciliation… this whole “the coin!” thing is a feckless distraction… !!!!!*it's happening gif* https://t.co/VhRuCK34v7— Joe Weisenthal (@TheStalwart) September 28, 2021
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They should rather be talking about what they can reasonably get thru reconciliation…
The Fed will not purchase “the coin” with reserves… The “coin” doesn’t pay a coupon where is the Fed going to get the USDs to pay the IOR or the RRP rate on the newly issued reserves? Fed doesn’t operate under an appropriation… they factor the govt guaranteed interest bearing securities they buy when they add reserves…
Quit whining and pass something via reconciliation… this whole “the coin!” thing is a feckless distraction…
!!!!!
*it's happening gif* https://t.co/VhRuCK34v7
— Joe Weisenthal (@TheStalwart) September 28, 2021