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Trump urges zero or negative interest rates to tackle U.S. debt
So the game is in plain view now: Free and infinite money to devalue the debt away, accompanied by more commodity price suppression and destruction of markets so the public and investors don't catch on too fast and try to abandon government currencies altogether.
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Wednesday, September 10, 2019
WASHINGTON -- President Donald Trump called on the Federal Reserve to push down interest rates into negative territory, a move reluctantly used by other world central banks to battle weak economic growth as it punishes savers and banks’ earnings in the process.
Trump, in a pair of Twitter posts, said that would save the government money on its debt. He did not address the risks or financial market tensions that central banks in Europe and Japan confront as a result of their negative rate policy, or the larger issue that negative rates have not done much to boost growth or raise inflation as intended.
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“We have the great currency, power, and balance sheet ... The USA should always be paying the ... lowest rate. No inflation!" Trump tweeted.
“It is only the naïvete of (Fed Chairman) Jay Powell and the Federal Reserve that doesn't allow us to do what other countries are already doing," added Trump, who has repeatedly noted that rates are negative in Germany, Europe's trading powerhouse. ...
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