I can't tell anyone what to do because when I talked about this 8 years ago, I got ridiculed. What the Fed is doing now is unprecedented in our history and they are dollarizing the WORLD right now and are going to literally own the world as a result, and the other major CBs of the world, including Russia, are on board. China is the odd man out, by design.
I don't know how it will be treated tax wise, but it's not a "loss" to carry forward like with stocks unless they change tax code.
It's going to fuk small business like me that have a large cash balance in business checking if they apply it to checking accounts as well. Not sure if it goes there, I'd have to look at what happened in EU countries when they wen negative interest rates there a few years ago.
I like Larry Kudlow as a guy, but you have to wonder when the guy that was telling everyone just a few months ago to buy when the market was at its TOP is also the guy saying buy when it was at the bottom less than a week ago, especially when the entire financial sector is saying publicly, "uh, we're not so sure." That's an odd disconnect from 2009.
Wanna know what else got ridiculed but is now in non-conspiracy headlines? "Digital Dollars."
Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar
If the Fed is buying the world, and we're floating the idea of a digital dollar, that will NOT be a one for one swap with your paper dollar, it would mean a revaluation of the dollar.
Are we going there? I don't know. But it's clearly being floated, the Fed is clearly dollarizing the world and buying ALL forms of debt, and the idea isn't being floated by kooks anymore. Too much for most to ponder... so take your check and be happy! ;)
And for the record, the Fed has NO power when it's balance sheet is empty of debt... zero. It has near infinite power when it owns debt, let alone all forms of debt, and it's buying like never before.
This is one of the best lines EVER, not just in a movie, but for reality... in the movie, it's based on a true story and just about one bank... but think Fed and the globe. CBs have chosen a side, and they've chosen the US over China, and again, that includes Russia. When watching this clip, think the Fed and debt in general, not one bank and arms sales.
PS I love The International as a movie. And in this scene, the guy in the white shirt is one of the good guys... no further spoilers! ;)