You remember Iowa dummy J.D. Scholten who was recently palling around with local communist Clayton Tucker and disgraced former Ag Commissioner Jim Hightower, right?
Well, he’s back spewing falsehoods on his website. And Comrade Clayton (as usual) is there to repeat the falsehoods without doing a single nanosecond of fact checking….
The failed baseball dummy gets everything wrong, of course. But what do you expect from a fellow socialist? The LAST thing they understand is math and finance. They only understand greed and envy.
The ACTUAL amount of this program is 1/10th of what J.D. boldly states it is. It’s also not a “bailout” – it’s a swap line. Huge difference.
You see, a BAILOUT is when government money is given and nothing is received in return. Government money is vaporized and never seen again. Kind of like when Obama bailed out GM to the tune of over $10 billion in tax dollars 16 years ago – which, ironically, is about $20 billion in today’s dollars. Clayton Tucker had NO PROBLEM with a $20 billion bailout back then because it saved his precious union workers. The very workers who drove the company into the ground in the first place.
I’m not sure where he gets the $200 billion number. Maybe he’s thinking of the $200 billion we handed to Ukraine and will never get back. Comrade Clayton was ALL IN FAVOR of that, as you’ll recall.
Tens of billions of THAT Ukraine “bailout” was stolen by corrupt generals and Zelensky himself. But Comrade Clayton doesn’t care about THAT either.
I won’t even get into the billions wasted on failed renewable companies like Solyndra, A123 or that giant $2.2 billion solar plant that just failed recently. Comrade Clayton doesn’t give a shit about those billions either!
A swap line is where we buy Argentina’s bonds and supply liquidity. We hold the bonds as collateral and they pay interest. The Fed has done it countless times with other countries (all with ZERO transparency, I might add) and every president has overseen shit like that repeatedly.
But Comrade Clayton was a “poli sci” major, so when it comes to big boy stuff like this, he couldn’t find his asshole with a funnel. Just another example of the boy who lives with mom babbling bullshit he knows absolutely nothing about and getting his facts completely wrong. Par for the course!