United States Biden administration policies and actions - megathread

[Vaermina]

Not legally speaking. They live on being in an awkward grey area of digital transactions, despite having been acting increasingly like a bank and becoming obscenely important to the economy.

That's about a decade out of date.

There are actually a lot of regulations in place saying what they can and can't do. And putting a hold on anyone's account can get them in big trouble if it's not 100% within the law. (See Zepeda v. PayPal)

 

[DarthOne]

50,000 Illegal Aliens Who Crossed Border Released into US without Court Date – No Mandatory Vaccinations, No Contact Tracing

50,000 Illegal Aliens Who Crossed Border Released into US without Court Date - No Mandatory Vaccinations, No Contact Tracing

50,000 illegal aliens who recently crossed the border were released into the United States without a court date. There’s no mandatory vaccinations and no contact tracing for these illegal aliens, but YOUR life is altered because of Covid restrictions/vaccine mandates. The illegals were *told* to...

www.thegatewaypundit.com

50,000 illegal aliens who recently crossed the border were released into the United States without a court date.

There’s no mandatory vaccinations and no contact tracing for these illegal aliens, but YOUR life is altered because of Covid restrictions/vaccine mandates.

The illegals were *told* to report to ICE, but according to Axios, only 13% have voluntarily shown up so far.

About 50,000 migrants who crossed the southern border illegally have now been released in the United States without a court date. Although they are told to report to an Immigration and Customs Enforcement office instead, just 13% have shown up so far, Axios has learned.

• It’s unprecedented for agents to release migrants without an official notice to appear in court. Where it has occurred recently, migrants have instead been given a list of addresses and contacts for ICE offices across the country and told to report to one of them.

By the numbers: Just 6,700 migrants who crossed between mid-March and mid-July showed up at ICE offices as of Monday, one source briefed on Department of Homeland Security data told Axios.

• 16,000 have not showed up and passed the 60-day reporting window they were given. That’s 2.4 no-shows for every one that has checked in.
• Another roughly 27,000 migrants who crossed and were released during the same time frame have yet to turn up, but remain within the 60-day window for reporting. One DHS official emphasized that nearly 70% of migrants are within the 60-day window or have reported to ICE.

Meanwhile migrants continue to be released. Rep. Henry Cuellar (D-Texas) told Axios that as of Monday, 7,300 migrants in the Rio Grande Valley sector had been released during the past week without court dates.

 

[ATP]

Not legally speaking. They live on being in an awkward grey area of digital transactions, despite having been acting increasingly like a bank and becoming obscenely important to the economy.

So they could do whatever they want.And since ADL was catched at least once spying on Israel,it mean that Israel is supporting Democrats.I undarstandt them - Republican must support them anyway becouse of protestants.Democrats could hurt them,so better be nice.

 

[Sobek]

He, again, admits he is just a puppet for people behind the curtain.

 

[Doomsought]

This is elderly abuse.

 

[JagerIV]

It really isn't.

Because Paypal is a financial institution. Which means they have some strict regulations on what they can and can't do.

Considering the kinds of things banks and Master Card have gotten away with, banks can more or less do whatever they want as well as long as its against the politically unpopular.

 

[Bacle]

 

[Chaos Marine]

 

[Rocinante]

What's this mean?

 

[DarthOne]

What's this mean?

Beat me to it. I assume it’s important though.

 

[Bear Ribs]

Repo and Reverse Repo Agreements - FEDERAL RESERVE BANK of NEW YORK

The New York Fed is authorized by the Federal Open Market Committee (FOMC) to conduct repo and reverse repo operations for the System Open Market Account (SOMA) to the extent necessary to carry out the most recent FOMC directive. The New York Fed's Open Market Trading Desk (the Desk) executes...

www.newyorkfed.org

Contrary to what it sounds like, it does not involve prequels to Kung-Fu Panda. English is funny that way.

 

[DarthOne]

...okay, that explains what it is. But it doesn’t really tell me if this is a necessary, if good measure or a bad one. Or what the side effects of this might be. Or what this means for the American economy and so on.

(Alternatively, I’m just being a bit thick and need it explained to me in simpler terms)

 

[Airedale260]

Fed's reverse repo program sees demand soar to just under $1 trillion overnight

Demand surged for the Federal Reserve's overnight reverse repo facility on Wednesday, with 90 firms parking a record $991.9 billion at the central bank in...

www.marketwatch.com

Granted it's been a while since ECON 101 & 102, but as I understand it, these are used as ways to help the securities markets soak up excess liquidity.

If that's the case, then it's another potential warning indicator that there's too much money sloshing around, i.e. the Fed needs to pull its head out of its ass and do something to reduce this.

 

[Bear Ribs]

...okay, that explains what it is. But it doesn’t really tell me if this is a necessary, if good measure or a bad one. Or what the side effects of this might be. Or what this means for the American economy and so on.

(Alternatively, I’m just being a bit thick and need it explained to me in simpler terms)

Complicated but basically what @Airedale260 said. Reverse Repos let the government take money out of the economy, but only temporarily as the money has to be given back eventually. It's purpose is to reduce inflation by keeping there from being too much cash in the system if a bunch is dumped in by some stock-market maneuver or such. The issue is, it's always temporary and it's not supposed to be that much money.

Two months ago, people were freaking out about how over-monied the system was when the reverse repo market hit 485 billion. That was way too excessive by contemporary standards and indicated there was way too much cash in the system.

Fed reverse repo facility sees record $485.3 billion of overnight demand from Wall Street awash in cash

In two months, the record-breaking super-excessive amount more than doubled. This very strongly suggests that somebody's been making the money printing machine go brrr for too long, and the chickens are coming home to roost over it.

 

[bintananth]

Fed's reverse repo program sees demand soar to just under $1 trillion overnight

Demand surged for the Federal Reserve's overnight reverse repo facility on Wednesday, with 90 firms parking a record $991.9 billion at the central bank in...

www.marketwatch.com

Granted it's been a while since ECON 101 & 102, but as I understand it, these are used as ways to help the securities markets soak up excess liquidity.

If that's the case, then it's another potential warning indicator that there's too much money sloshing around, i.e. the Fed needs to pull its head out of its ass and do something to reduce this.

Or lack of liquidity.

Overnight repo's are basically the financial system's sorta-equivalent to the "give-a-penny / take-a-penny" most retailers have to deal with excesses and shortages of small change.

 

[Airedale260]

Or lack of liquidity.

Overnight repo's are basically the financial system's sorta-equivalent to the "give-a-penny / take-a-penny" most retailers have to deal with excesses and shortages of small change.

Given how there's been inflationary pressures popping up in the U.S. economy in other sectors AND a glut of government spending, I don't think it's a case of deflationary pressures...

I mean, yes, you are technically correct but again it's more of a "piece of a larger picture" thing.

 

[Bear Ribs]

Or lack of liquidity.

Overnight repo's are basically the financial system's sorta-equivalent to the "give-a-penny / take-a-penny" most retailers have to deal with excesses and shortages of small change.

If there's a lack of liquidity there's something staggeringly wrong with the system, given how much money has been pouring in via various programs.

Also, you have your terms backwards. Repos are issued when there's not enough liquidity, reverse repos are used when there's too much liquidity.

What Is a Reverse Repurchase Agreement? How They Work, With Example

A reverse repurchase agreement is the purchase of securities with the agreement to sell them at a higher price at a specific future date.

www.investopedia.com

The RRP transaction is used less often than a repo by the Fed, as a repo puts money into the banking system when it is short, whereas an RRP borrows money from the system when there is too much liquidity.

 

[bintananth]

Given how there's been inflationary pressures popping up in the U.S. economy in other sectors AND a glut of government spending, I don't think it's a case of deflationary pressures...

I mean, yes, you are technically correct but again it's more of a "piece of a larger picture" thing.

One of the banks my dad uses is a tiny community one which has a contingency plan in place which involves the Federal Reserve Discount Window and a phone call to my mom just in case he sees something shiny and decides to buy it.

They put that in place after he randomly bought something his account balance could cover but the bank's deposits with the Federal Reserve could not cover.

 

[bintananth]

Also, you have your terms backwards. Repos are issued when there's not enough liquidity, reverse repos are used when there's too much liquidity.

Your repo is my reverse-repo and vice-versa. It's all a matter of perspective and they're effectively the same damn thing.

 

[DarthOne]

...I'm gonna go buy more silver.