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Help For Small Business Owners

by | Mar 27, 2020 |

For any small business owner that needs to apply for a loan their is some good news.  Secretary Mnuchin announced that the emergency small business funding mechanism will be administered through the Treasury FDIC system rather than the SBA.  The contact point for the loans will be any FDIC bank so you should be able to go directly to a local bank and apply for emergency funding rather than having to go through the cumbersome SBA loan process.

Mnuchin describes how this will work here

Hat tip to Sundance at The Conservative Treehouse

Meet The New Boss – At The Fed

by | Mar 27, 2020 |

Jim Bianco at Bloomberg

1000x 1“The Fed will finance a special purpose vehicle (SPV) for each acronym to conduct these operations. The Treasury, using the Exchange Stabilization Fund, will make an equity investment in each SPV and be in a “first loss” position. What does this mean? In essence, the Treasury, not the Fed, is buying all these securities and backstopping of loans; the Fed is acting as banker and providing financing. The Fed hired BlackRock Inc. to purchase these securities and handle the administration of the SPVs on behalf of the owner, the Treasury.

In other words, the federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. BlackRock will be doing the trades.

This scheme essentially merges the Fed and Treasury into one organization. So, meet your new Fed chairman, Donald J. Trump.”

 

COVID-19 Has Taken an Aircraft Carrier Out of Commission

by | Mar 27, 2020 |

Task and Purpose:

The aircraft carrier USS Theodore Roosevelt will be pulling into Guam so that each of its nearly 5,000 sailors can be tested for COVID-19, the Navy announced on Thursday.

The announcement comes days after Acting Navy Secretary Thomas Modly said three sailors aboard the carrier were diagnosed with the virus and flown from the ship.

News reports since then showed the number had increased to at least 23 and that the “number is changing.”

You See, The Government is Your Enemy. They Hate You. They Want to Kill You(r Doctor).

by | Mar 26, 2020 |

Feds have 1.5 million expired N95 masks in storage despite CDC clearing them for use

Nearly 1.5 million N95 respirator masks, a medical product that is crucial in hospitals fight against the coronavirus, haven’t been shipped because they are past their expiration date, according to The Washington Post.

The masks are reportedly part of Customs and Border Protection’s emergency stock. In a meeting Wednesday about what to do with the masks, Department of Homeland Security (DHS) officials decided to turn the masks over to the Transportation Security Administration, which has demanded masks of its own, according to the Post’s sources.

The sources told the paper that CBP has no plans of giving the masks to hospitals or the Federal Emergency Management Agency (FEMA).

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