No need to look further for a country destined to fail. When the time comes, such a country will be blessed with an idiot, who thinks he is a genius, to be its ruler and he will surround himself with twits and half twits whom he believes are the best talents he could fine.
The USA is in this state of development, destined to fail. And in strolled the new emperor Trump, godsend, who thinks he is the greatest, and sincerely thinking that he is going to save the USA, to make America great again. He could not see anything wrong with what he is doing while the bystanders watching could see clearly the road he is paving to hell. And his sycophants around him, all thinking equally that they are the best men and women, and all playing along with him, to make America great again, but actually going the other way.
Obviously Trump and his twits and half twits did not know and could not see the truth, the great tragedy that is unfolding before them. If they only knew, but that is not to be as the USA is destined to fail. Even the general American public could not do anything about it as they watch haplessly how the USA is plunging into the abyss. The big twit and his half twits are all happily doing what they are doing and believing that they are the gifts of God, the best men for the job of running the USA.
Is Singapore also in the same decline? If it is, then Singapore will also be blessed with a godsend and surrounding himself with twits and half twits just like Donald Trump is doing, all equally happy that everything is doing just fine without knowing that it is spiralling down into the same shit hole of no return. Let's hope not.
One anonymous posted this:
'The
current bunch of PAPies r the result of the past pioneers ruling party
dreams, there isn't much changes other than some twits here and there,
today Spore is regressing as a society under the new gen of leaders with
no new ideas but only twits. This island city need new ideas for a
better future & Dr Chee & its party members will shape a new
future for tis tiny red dot.'
Is this is what is happening in Singapore? If it is, then there is nothing anyone can do about it, just like the USA, it will fail.
How many of you agree with this anonymous and think this is so. Or how many of you are just like the bunch of twits and half twits thinking everything is fine, believing like the twits and half twits that they are doing great to keep Singapore prosperous and the Singaporeans will continue to have a great life of abundance under wise and able leadership for another hundred years?
Not many leaders would intentionally or consciously want to destroy their own country. It can only happen when they did not know that they are twits and half twits and instead of doing good for their country, like Trump's call to make America great again but actually doing the opposite. Of course he did not know that he is harming the USA and all Americans. This is how life is all about, and how great empires failed and fell, not for want to do something about it, but doing every wrong that they thought were right. And this can only happen when twits and half twits walk around thinking that they are geniuses and the most talented people on earth.
It always happen and never fails to happen. When the time is ripe, the durian will fall. They would not have signed the CECA if they knew that it is bad and will destroy the country and bring them along as well. They would not have done a lot of things if they knew that they were bad, like wasting so much money on white elephant projects, like wasting billions on foreigners instead of our own students, like flooding the island with more and more wildlife, like the insanity of wanting to have 10m or 20m people on this piece of rock. To them, these are all great things, for the good of the country and Singaporeans. Only history will pass the verdict when it is over, when twits and half twits would be confirmed, not as geniuses or talents that they believed themselves to be.
Mr RB. Just read the comments on your post yesterday regarding Dr Chee and you will know that Sinkieland also consists of 70% twits that are like frogs boiling in now half boiled water.
ReplyDeleteWhen the water becomes full boil then you will them dead floating in the mirage water that they are now happily swimming.
My extended families and mine had no problems with the PAPies. Our votes will goes to them.
Leased dogs forever. They thought that any Opposition will bring great harm to Singapore.
Have not seen REAL democracy at work. Years been blinded and conned.
Pathetic
Really very hard to distinguish an
ReplyDeleteIdiot from a talent,really.
Dotard is blinded by his own intelligence same as the Sinkies PAPigs. A Chinese dialect that said 'kiang tio hor mai gei kia' or u can be clever but don't pretend to be clever ( 聪明就好，不要假聪明).
ReplyDeleteJust to add.
ReplyDeleteRead Today News LHL at this time of impending World's Recession and Depression can still loudly proclaimed We Need More People to Sinkieland.
They have the millions to scoot off when Sinkieland is Sinking.
Think they will stay and see you imbeciles Sinkies sinking with starvation??
Daft Sinkies indeed.
Hi V49 841am
ReplyDeleteVery very very glad to note how your extended families will vote. Very very very good!
Btw, you may be interested to know that many many many many many people in SG are same as you so much so that someone here predicted 75%-80% of the votes will go to PAP at the next GE.
Cheers.
Please read with eyes open.
DeleteI am posting that one commenter in yesterday's RB blog posted so loyally to the Papies that me and my extended families will vote the PAPies.
Me always will be on the Opposition Votes m
Haha... very very sorry... please excuse me....must be getting old. Didn't read properly.
DeleteCheers.
PAP does not equal Singapore.
ReplyDeleteDissent and disloyalty to PAP does not mean disloyalty to Singapore.
Is it true?
When you say "Fuck PAP", this does not mean you said "Fuck Singapore".
"When you say "Fuck Heng Swee Keat", this does not mean you said "Fuck.Singapore".
Understand
ReplyDeleteFate
and one shall
accepts
destiny.
The
Place for Sin
is
Hell.
Sinkies
have asked for
it.
So,
accept your
Choice.
Anon 1012
DeleteThen, why are you still here? Why?
I accept fate and as a Sinner aka Sinkie,
Deletethis is the Rightful Place that l am born to face the Consequences of Sin.
Fyi,
l have being born and living here for a long time.
l am fated to exist in Sin.
But
would prefer to exit or expire outside Sin.
Do not ask for the Reason, simply becos most would want to die sin-free.
Enough of Living Hell.
countries rise and fail and rise and fail. very normal.
ReplyDeleteif a huge war/ disease breaks out, what will sinkies feed on?
Apple, probably infiltrated by CIA operatives/agents, created an app to track Hong Kong police activities and movements, in support of the HK pro-US dissidents, rioters and criminals against China and Chinese.
ReplyDeleteTim Cook is now trying desperately and furiously to defend Apple's anti-Chinese move.
Why you still here?
ReplyDeleteThis question is very interesting, yet stupid.
Interesting because the one who asked the question is an interested character. He/she must be wanting to purge Singapore of those who are likely to vote against his string-pulling master or dog-handler.
Stupid because by asking such a question, he/she opens his asshole or her pussy to be raped.
Anon 1035
DeleteU are very very smart!
Good ����!
Any economic growth or productivity increase that is done with increasing population is no growth or negative growth. Whatever increases would be eaten away by the increase in population, lan par par lan.
ReplyDeleteReal growth is to maintain the same population while raising productivity and GDP. One trick pony can only think of increasing population, increasing population increase growth. Really?
Mr RB. What happened when times of RECESSION and Depression?
DeleteRiots like HK?
Sinkies will not riots as MOST kwa kwa been leased long time ago.
How about the Wildlifes??
Left to be seen.
These happenings their daily occurrences.
So it's be their norm.
@All, @RB,
ReplyDeleteUS system is anti-fragile. They had MUCH WORSE leaders before & end up grew stronger.
SG & CN system are more outwardly polished, hard & smooth-functioning .... but more fragile (very hard & very sharp but brittle like an overly tempered sword).
CN basically have to undergo many subsequent changes & re-invention of dynasties/govts over 6,000 years. Will this latest CCP dynasty last longer than the longest previous dynasties?!? Only time will tell --- its 70 years so far is just a blip compared to previous dynasties where even average ones lasted a few hundred years.
The only question mark about US system is that it doesn't have a very long history. However it's based on UK system & the core of that system has lasted for about 1,000 years.
SG system?!? I think in 100 years, it will be part of a greater South East Asia Federation combining Matland, Brunei, and Indo under a central federal government + local provincial and city govts.
But in the short term, no horse run lah --- PAPies 65+% in next GE!!! LOL!!!
WSG
If 50 years ago, the leaders can manage a population of only 1.5 million which were mostly uneducated (85%), lowly educated (90%), unskilled (95%) and inexperienced (99%), and turned a 3rd world Singapore into a 11st World city, why can't the present leadership manage a population of 3 million (double the previous population and of much better quality, education and skills) and make Singapore into double 1st World (on top of the world) surpassing every other countries in GDP, etc.???
ReplyDeleteAnswer: Incompetence, inability, myopic, lack of vision, lack of courage, lack of ideas, having too comfortable a life and too easy to govern, too much money to spend, and most importantly A SERIOUS LACK OF WISDOM!
Ever wonder why You are coughing ?
ReplyDeleteYes,
most will think and believe it is due to the Haze and Smog. Not wrong, however not completely correct and right as well. Be MINDFUL OF TUBERCULOSIS,
THE SLOW AND SILENT KILLER DISEASE IS A FATAL THREAT.
REMIND
YOURSELF OF THE OUTBREAK AT ANG MO KIO
and
BE MINDFUL OF DENGUE AND ZIKA ALL THE TIME.
BE AWARED.
Why outbreak starts at AMK and not other place?
ReplyDeleteAnswer: Karma. Collective Karma for voting the wrong people to lead the country?
Bukit Batok or Cough cough plagued by the Black insects.
DeleteKarma on the Batok Batok residents.
Just announced WP Ajunjed TC liable for damages.
Wah piang see liao..no one dared to run against the PAP.
TCs also kena charged. PAP TCs all perfect meh?
Hi 1159 anger not anger not....
ReplyDeleteThe masses are not stupid lah!
They just want to enjoy life. Why want to look for troubles? Until pants dropped! Just 3Ms!
That is the reason why the masses boh-chup cheng-hu! At most they only TCSSssss and KPKBSSSSS. But they die die die die vote for pap!
This is sg! Can U-turn? Think about it!
Hahaha......
And the very first hanky-panky to be investigated by CPIB is also from AMK Town.
ReplyDeleteWhy till now no sight and no sound.
DeleteUntil after Erections?
Or that GM acquitted?
They are thinking oops, not thinking, and only want to take the short cut, ie add people, add people, so call it growth and ignoring the severe consequence of an over populated island, then wait for a crisis, economic, disease, natural or a war, or internal riots, then see what happens. They have no answer!
ReplyDeleteThey can't cope with a small riot in little India, they can't cope with data breach, outbreak of diseases, epidemic, train breakdown. How would they cope if there is a terrorist attack or something more serious, a recession or depression and with 10m hungry mouths to feed?
They don't care. You die your business.
@ Doom and gloom, redbean style:
ReplyDeleteI evaluate everything using probability and Bayesian reasoning: ie the probabilities change with the inclusion of NEW data.
As it stands, both the USA and Singapore are TO BIG TO FAIL.
Individual enterprises and persons will fail, some unable to recover, but as nation-states, no way lah. USA & Singapore are robust, ANTI FRAGILE, to use a term from Nicholas Nassem Talib. (A giant of statistics and a successful options trader).
Singapore's reserves are HUGE. What is officially quoted is way UNDERSTATED.
So stop panicking and reap every opportunity you can from the wide variety of "profit incentives" this tiny, amazing island presents to EVERYONE.
Huat ah! Dun worry, market go up, then down… Just to fuck with your negative emotions...😂
@ COGNITIVE BIAS IS FUCKING PEOPLE'S MINDS UP:
ReplyDeleteATTRIBUTION BIAS: The idea that if things are going badly it is someone else's fault. When things are going great it's because you're a GENIUS. 🤪
Many people get fucked up for a myriad of reasons...and that's ok if they learn from their errors.
But most don't. They seek to blame someone or something else. They fail to accept that the ground is ALWAYS shifting AGAINST you. If you don't adapt...well…
Look at NATURE. The cycle of nature is death… Nature is ALWAYS trying to kill you from the moment you're born. To survive, you adapt, or get "looked after" by those who've already adapted...for eg your parents when you're young, your kids when you're old.
Eventually, nature succeeds and we all DIE.
Question is: in the meantime, what the fuck are you going to do? Do you live in terror or are you going to have A GOOD TIME?
You choose lah!
This comment has been removed by the author.
ReplyDeleteTHE NATURAL LAW OF IMPERMANENCE
ReplyDeleteANYTHING OR ANYONE THAT IS BEING SOLD AS "TOO BIG TO FAIL" IS DESTINED TO FAIL, AS SURE AS THE DINOSAURS!
The Natural Law of Impermanence rules EVERYTHING in the Whole Universe (or Multiverse). It dictates in Cyclic Existence that:
1. All that give births shall end in deaths.
2. All that are born shall die.
3. All that rise up shall fall down.
4. All that are built shall be destroyed.
5. All that go around shall come around.
6. All that are functional shall become dysfunctional.
7. All that are beautiful shall wither away.
8. All that are new/young shall become old.
These eigth inevitable cyclic existence rules never fail.
Therefore, there is no such a thing as "too big to fail". In fact, the reverse is true. The bigger it is, the heavier it falls!
Don't listen to snake-oil sellers and become an ostrich mental case - burrying your head in the sand and think that nothing will happen.
No matter how smart you are, you cannot run away from the rules of Cyclic Existence!
THE TWITS - Review - Part 1
ReplyDeleteIntroduction
"The Twits" is a humorous children's book written by Roald Dahl and illustrated by Quentin Blake.
It was published in 1980 and was adapted for the stage in November 2007.
The idea of The Twits was triggered by Dahl's desire to 'do something against beards', because he had an acute hatred of them. The first sentence of the story is, 'What a lot of hairy-faced men there are around nowadays!'
The Plot
A hideous, vindictive, spiteful couple known as the Twits live together in a brick house without windows (Mr. Twit reasons that this stops people looking in on them, not taking into account that windows are intended to be used for looking out rather than in). They continuously play nasty practical jokes on each other out of hatred for one another, ranging from Mr. Twit hiding a frog in his wife's bed that he claims is a monster, to Mrs. Twit tricking her husband into eating worms in his spaghetti.
They also keep a family of pet monkeys, the Muggle-Wumps. The Twits, who are retired circus trainers, are trying to create the first upside-down monkey circus, leaving the monkeys to stand on their heads for hours on end. If they fail to do what Mr. Twit says, Mrs. Twit beats them with her cane.
Mr. Twit also coats tree limbs with a strong sticky glue in hopes of catching birds for Mrs. Twit to make into a bird pie. The monkeys try to warn the birds, but since the monkeys speak in an African language, the English birds cannot understand them, so the poor birds wind up boiling in Mrs. Twit's pie.
One week, the Roly-Poly bird flies in from Africa to visit the monkeys, and acting as an interpreter of languages, keeps the birds from sitting anywhere Mr. Twit has spread glue. Mr. Twit tries several times to catch the birds, spreading the glue on an increasing number of perches, but the Roly-Poly bird changes his warning to reflect the new traps. Tired of chasing the birds, the Twits decide to buy guns to kill them.
The Muggle-Wumps, tired of being forced to stand on their heads, with the help of the birds use Mr. Twit's powerful glue to attach the couple's furniture to their ceiling while they are away to trick them into thinking that they are upside down and that their ceiling is actually their floor. The birds also smear glue on the Twits' heads, which permanently fixes them to the ground when a panicked Mr. Twit suggests that they stand on their heads so that they are 'the right way up' after they first walk into the upside down living room.
Stuck on their heads with all their weight pressing down on them, they catch the 'Dreaded Shrinks' (a disease that Mr. Twit had convinced Mrs. Twit that she had earlier in the book as one of the aforementioned pranks), their bodies compressing 'downwards' so that they eventually shrink away into nothing, leaving the Muggle-Wumps free to escape.
If Trump is not a twit he would not have suggested detonating a nuclear devise inside a hurricane. Or telling everyone that hurricanes are very wet. Or telling everyone of not having heard of a category five hurricane.
ReplyDeleteIf Trump is not a twit he would not be going around saying words like 'great', 'wonderful', 'very well', 'excellent progress', 'my good friend' and very next moment becomes 'my mortal enemy' or vice versa etc when he probably hardly knows the meaning of those words and use them as of salt and pepper.
If Trump is not a twit, the way he answers pointed questions is like a runaway train on opposite direction tracks, deviating from the question and bringing in all kinds of rubbish that really confused listeners and ultimately himself. Compare how Putin takes on difficult questions and answered them eloquently.
Of course there will be those who thinks he is close to madness, but there are those who thinks his radical actions are the real good stuff. One man's meat is another man's poison. It takes all kinds of people to make this world.
Similarly, in Red Dot, without exception. Those who benefitted will praise, those who do not will curse.
But, whichever country, and whoever rules, the day of reckoning will still come. It is only a question of when. And that is the end of this human cycle.
Evidence Is Slowly But Surely Revealing The Corrupted Trump Campaign
ReplyDeleteTwo foreign-born Florida businessmen who have helped President Donald Trump's personal lawyer Rudy Giuliani investigate political rival Joe Biden were arrested in a scheme to illegally funnel money to a pro-Trump election committee and other U.S. political candidates, prosecutors said on Thursday.
The arrest of Ukraine-born Lev Parnas and Belarus-born Igor Fruman at an airport outside Washington carrying one-way tickets to Vienna was the latest dramatic development in a political saga that threatens Trump's presidency.
Prosecutors said Parnas and Fruman conspired to contribute foreign money including at least $1 million from an unidentified Russian businessman to candidates for federal and state offices to buy influence.
Prosecutors separately said they donated $325,000 to a pro-Trump political action committee called America First Action in May 2018, and the money was falsely reported as coming from a purported natural gas company set up to conceal its true source, according to the indictment.
A fast-moving Democratic-led House of Representatives' impeachment inquiry is centered on the Republican president's request in a July phone call for Ukrainian President Volodymyr Zelenskiy to investigate Biden, the former vice president and a top contender for the 2020 Democratic presidential nomination.
THE TWITS - Review - Part 2
ReplyDeleteMr. Twit
Mr. Twit is a wicked person, having hair that covers his entire face, with the exception of his forehead, eyes, and nose. His hair (which he falsely believes makes him appear 'wise and grand' but is widely agreed by everyone else makes him look like a twit), is spiky and hard. Because he never washes it, his moustache holds scraps of food stuck there while he ate, including tinned sardines, Stilton cheese, and corn flakes.
Occasionally, he licks these scraps out and eats them when he is hungry. Instead of wiping his mouth with a cloth, Mr. Twit simply wipes it on his sleeve. Mr. Twit is a drinker with a fondness for beer; he even drinks alcohol at breakfast. He is known to be very quiet when he is plotting. He and his wife mistreat their monkeys, the Muggle-Wumps. They have kept Muggle-Wump and his family locked up in a cage in the garden.
Mrs. Twit
Mrs. Twit is the hideously ugly, menacing wife of Mr. Twit. Her former beauty has been distorted as a result of consnt horrible thoughts over time.
She takes advantage of her glass eye to play practical jokes in revenge against her husband, and demonstrates multiple acts of cruelty and viciousness throughout the story: the main reason behind her use of a walking cane was as a weapon against innocent children and animals, she participates in the torment of the couple's pet monkeys the Muggle-Wumps, and she once served Mr. Twit a lunch of worms disguised as spaghetti.
Albeit, while she frequently demonstrates acts of stupidity, she has also exhibited intelligence: she managed to manoeuvere her way out of being carried off into the sky by balloons by chewing through several of the strings and landing safely on the ground. Aside from this, she is portrayed as being hideous, cruel, and unhygienic.
The Pranks
A series of pranks were added to the plot of the story. Below are brief descriptions of the pranks:
1. The Glass Eye
Mrs. Twit removes her glass eye and drops it in her husband's beer mug while he isn't looking. It isn't until he empties the mug that he sees the eye sitting in there, startling him something awful. Mrs. Twit laughs, gloating that this proves she is always watching him.
2. The Frog
In revenge for the glass brain trick, Mr. Twit places a frog in Mrs. Twit's bed, and frightens Mrs. Twit by claiming the item in her bed is a 'Giant Skillywiggler', with 'teeth like screwdrivers' with which it would bite off her toes. Mrs. Twit then faints, at which point Mr. Twit splashes a jugful of cold water onto her face. She soon recovers, as the frog hops onto her face to get near the water.
Mr. Twit then claims the 'Giant Skillywiggler' will soon bite off her nose. Mrs. Twit then flees.
THE TWITS - REVIEW - Part 3
ReplyDelete3. The Wormy Spaghetti
Seeking revenge for the Frog Trick, Mrs. Twit places worms from the garden in cooked spaghetti, which Mr. Twit eats, being re assured by Mrs. Twit that it is merely a new kind called 'Squiggly Spaghetti' she has recently bought. When he has eaten it, Mrs. Twit joyfully reveals the truth, to Mr. Twit's horror and disgust.
4. The Shrinks
In revenge for the Wormy Spaghetti, Mr. Twit glues pieces of wood no thicker than a penny onto Mrs. Twit's cane each night, as well as onto the legs of her chair, making Mrs. Twit believe that she is slowly shrinking.
Mr. Twit then frightens her by claiming that she has contracted an illness called the 'shrinks', by which she will be caused to disappear. Mr. Twit then claims that to cure the shrinks, Mrs. Twit will have to be 'stretched'. Mr. Twit then ties Mrs. Twit up in the garden to 60 gas balloons intending to leave her there for a while to teach her a lesson.
However, once Mrs. Twit makes the mistake of saying that if the strings break, it's goodbye for her, Mr. Twit pretends to tie some more strings to her ankles, before cutting through the strings and sending her skywards. Mrs. Twit eventually returns by biting through several of the balloon strings so she sinks slowly down, eventually collapsing on Mr. Twit in the garden and beating him senseless with her long walking stick immediately afterwards.
5. The Sticky Tree
There is a 'Big Dead Tree' in the Twits' garden, which Mr. Twit uses to trap birds by spreading Hug-Tight Sticky Glue on the branches. Captive birds are then made into a pie by Mrs. Twit. During the story four schoolboys are caught instead of birds; but escape by unfastening their trousers and falling to the ground outside the Twits' garden after Mr. Twit said that he will make boy pie instead of bird pie. It is this use of glue that gives the captive monkey Muggle-Wump and his family the idea of using it against the Twits.
6. Rescuing the Animals
Using their friend the Roly-Poly Bird as an interpreter of languages, Muggle-Wump and his wife and children convey the warning that any bird landing on the Big Dead Tree will be cooked into Mrs. Twit's Bird Pie. When Mr. Twit, in retaliation, spreads glue on the monkeys' cage (which serves as a substitute perch), the monkeys alter the warning. The birds end up landing on the Twits' roof.
This enrages Mr. Twit, who doesn't want to keep waiting for his pie, so the Twits decide to go to the shop and buy a gun each. During their absence on this errand, Muggle-Wump plots a final trick: to turn the Twits' house upside down. With the help of the birds, Muggle-Wump removes the carpet from the floor, as well as all of the tables, chairs, and other objects in the house, and uses Mr. Twit's glue to stick the objects upside down to the ceiling, leaving the floor absolutely bare.
By doing this, the Twits will believe that they have been turned upside down, as they will be standing on what looks like the ceiling of their house, and will stand on their heads to be the right way up. To keep their heads glued to the ground, two birds will put a small amount of glue on the Twits' heads right before they enter the house, so that when they stand on their heads, they will be stuck.
Just as the preparations for this trick are finished, the twits return home. Everything goes as planned, the Twits believed they've been turned upside down and so stand on their heads to counter it, only to be stuck to the bare floor. However, heads are not made to be stood upon. With so much weight on it from above, the Twits literally get 'the shrinks', as was mentioned earlier in the book. However, this time it's not a trick, it's the real thing. After a week or so, the Twits disappear, and everyone who knew of them shouts 'hooray!'
Meanwhile, The Muggle-wumps and Roly-Poly bird escape to their native African land.....
End of Review.
@ Anonymous on October 11, 2019 4:53 pm:
Delete"This blog owner sounds like a potential Hong Kong rioter.
I'm scared shitless that he will be leading some demoncrazies down the path to hell.
Who knows, with his daily rants, he may just convince a few numbskulls to follow the path of the Hong Kong terrorists.
God help us all."
Anyone reading the above comment carefully would know that the person behind the comment has a malicious intent.
And by displaying his ill-will against RB in a thinly veiled manner, he has shown the extent of his "stupidity has no cure"!
Hi Anon.
DeleteThis Twit must be the earlier Twit who pledged all his family and extended families loyalties to the PAP which he has coerced or use his stupid arguments to con them.
Wait till the happenings as happened in HK also happen in Sinkieland due to mass unemployments and the Wildlifes ran riot and he will sing a different tune.
Cheers
I have deleted this twit's post, actually many times. Sometimes this twit tried to talk sense and I let him passed. He thought I did not know it was the same twit, him.
ReplyDeleteThe US Federal Reserve is buying US$60 billion of US Bills every month for the next four months. Why?
ReplyDeleteBecause China is dumping all her US Bills amounting to US$3 trillion.
What does this mean to the lay people?
Answer: Nothing. The lay people will continue to lay eggs.
What does this mean to the financial markets?
Answer: It all depends on what position each player is in. If you are dependent upon the US$, you are going to be fxxked. If you are not dependent upon the US$, you will be safe/saved
Is this fake news? I don't really know. Only a few of the top leaders know. I wonder whether Sinkingland leaders are sleeping or not?
Here is the full statement from the Fed explaining all of the above:
ReplyDeleteIn light of recent and expected increases in the Federal Reserve’s non-reserve liabilities, the Federal Open Market Committee (FOMC) directed the Desk, effective October 15, 2019, to purchase Treasury bills at least into the second quarter of next year to maintain over time ample reserve balances at or above the level that prevailed in early September 2019. The Committee also directed the Desk to conduct term and overnight repurchase agreement operations (repos) at least through January of next year to ensure that the supply of reserves remains ample even during periods of sharp increases in non-reserve liabilities, and to mitigate the risk of money market pressures that could adversely affect policy implementation.
In accordance with this directive, the Desk plans to purchase Treasury bills at an initial pace of approximately $60 billion per month, starting with the period from mid-October to mid-November. These reserve management purchases of Treasury bills will be in addition to the Desk’s ongoing purchases of Treasury securities related to the reinvestment of principal payments from the Federal Reserve’s holdings of agency debt and agency mortgage-backed securities. Detailed information on the schedule for reserve management purchases of Treasury bills will be announced on or around the 9th business day of each month on the Treasury Securities Operational Details site.
Consistent with this directive, the Desk will roll over at auction all principal payments from the Federal Reserve’s holdings of Treasury securities. As Treasury bill holdings mature, the principal payments will be rolled into new Treasury bill securities.
In addition, at least through January of next year, the Desk will conduct overnight and term repo operations to ensure that the supply of reserves remains ample and to mitigate the risk of money market pressures. Term repo operations will generally be conducted twice per week, initially in an offering amount of at least $35 billion per operation. Overnight repo operations will be conducted daily, initially in an offering amount of at least $75 billion per operation. Detailed information on the schedule of term and overnight repurchase agreement operations will be announced on or around the 9th business day of each month on the Repurchase Agreement Operational Details site.
In addition to buying up US$60 billion of bills per month, the Fed is also exercising Term Repurchase of US$35 billion twice a week initially. Plus overnight repurchase of US$75 billion initially on a daily basis.
ReplyDeleteThis is huge and unprecedented. Something big must be happening or going to happen?