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  • Showing only topics with the tag "federal reserve". Back to normal view
    1. Federal Reserve buybacks - Possible usage as UBI?

      So the Federal Reserve has recently handed out billions of dollars to banks in recent months by buying back bonds. I've heard that it is now about $3 trillion in total, but I can't confirm that...

      So the Federal Reserve has recently handed out billions of dollars to banks in recent months by buying back bonds. I've heard that it is now about $3 trillion in total, but I can't confirm that because I cannot figure out the federal reserve's website. It is $120 billion nightly though apparently [Source].

      This is a huge sum of money to be handed out, and I don't really understand what happens with it. But my question is if it would be possible (not talking about the chances of it happening, just possibility) that the money could be applied as a UBI, since if the $3 trillion approximation for the past three months, and we assume 330 million people in the US [Source], then that means it could be given as $9090 to each American?

      I'm tired btw, and this is just a random idea that popped into my head as a source for money for UBI plans, as trickle down economics clearly isn't working.

      11 votes