“When Treasury securities are due, the Fed simply shifts the dollars from those savings accounts at the Fed to checking accounts at the Fed. That's all! And this is done for tens of billions every month. The debt is paid off by a simple debit and credit on the Fed's books.”
Val Zlatev from Analog Century CM tells @opmpod why he is bullish on semiconductor networking...
Moore's Law for semiconductors is over at the individual chip level but networking of chips may provide some degree of extension.
War refugee turned Nobel prize winning scientist in the US posts about Trump administration cuts to funding for his biomedical research
"Within hours" he gets an email from China offering to move his lab to any Chinese city with guaranteed funding for 20 years
The obsession with the public debt is dumb.
We know this because no one says "we need less private savings in the form of treasury bonds"
The US political dramas today are due to simple economic misunderstandings.
@judyshel@WallStreetMav@IanJaeger29 How did someone with so little understanding of monetary operations get so close to serving on the Fed board? It’s like Steven Seagal only being a few votes away from becoming Defense Secretary or something.
@jondpratt@judyshel@WallStreetMav@IanJaeger29 ''We" would require a working knowledge of the monetary system. Otherwise one would need interpretations. At that point it is better not to run the mouth