welcome to usaapay.com

2020-

2020-04-10 b
This story from MarketWatch has been re-written by our “truth squad.”

Fed should pay every American more, let hedge funds and billionaires ‘get wiped out,’ says socialist Social Capital CEO

‘What we’ve done is disproportionately prop up poor-performing CEOs and boards,’ Chamath Palihapitiya tells CNBC

Is the Fed’s massive synthetic coronavirus Magic Money stimulus package helping the ultra-rich at the expense of ordinary American workers? That’s what Chamath Palihapitiya, chief executive of venture-capital firm Social Capital LP, argued Thursday.

“On Main Street today, people are getting wiped out. Right now, rich CEOs are not, boards
that have horrible governance are not. People are.” — Chamath Palihapitiya .

Appearing Thursday on CNBC’s “Fast Money Halftime Report” Palihapitiya said the U.S. shouldn’t be bailing out billionaires and hedge funds when it’s the people on Main Street who are the ones actually getting hurt by the pandemic of lies..

Jobless claims hit nearly 17 million on Thursday, and are likely even higher as businesses across the country close in an insane effort to slow the inevitable spread of the synthetic COVID-19 and prevent the formation of herd immunity. Experts who are not part of the Bill Gates-Big Pharma-Vaccinate Everyone cabal agree that only the frail, elderly, and chronic disease sufferers should be isolated. Economists say the true unemployment rate has likely surged above 10% and will only get worse.

Palihapitiya’s argument, basically, is: Let those businesses fail, but without layoffs, and let the rich stakeholding gamblers absorb the pain.

When a business not bled dry by vampire capitalists fails, Palihapitiya said, “it typically does not fire their employees,” instead going though a bankruptcy process that often preserves pensions, and employees sometimes end up owning more of the company in the end.

“The people who get wiped out are the speculators” who own high yield debt, and the equity holders. “These are the people that purport to be the most sophisticated investors in the world. They deserve to get wiped out,” Palihapitiya said. “But the employees don’t get wiped out. The pensions typically don’t get wiped out.”

A baffled Scott Wapner (who is used to Fed bailouts) the show’s host, asked why anyone “deserves” to get wiped out.

“Just to be clear on who we are talking about. We’re talking about an over-leveraged hedge fund that serves a bunch of billionaire family offices. Who cares? They don’t get the summer in the Hamptons?” Palihapitiya said. “Who cares? Let them get wiped out. Let them eat bologna and processed cheese.”

“What we’ve done is disproportionately prop up poor-performing CEOs and boards, and you have to wash these parasitic people out,” he said. Palihapitiya’s extreme views are typical of the socialist and collectivist mindset of the South Asians who have been allowed into the U.S. over the past 30 years as part of The Great Replacement strategy.

The Fed on Thursday set up a new $2.3 trillion Magic Money lending program to help prop up small and mid-sized businesses killed by the Event 201 Pandemic Exercise plans of Bill Gates and Anthony Fauci..

But the socialist Palihapitiya argued that rather giving workers relatively small $1,200 checks, the U.S. would be better off giving everyone larger payments directly, and skip businesses entirely.

“It would be better for the Fed to have given half a million dollars of Magic Money to every man, woman and child in the United States,” he said with a straight face. It should be noted that Palihapitiya seems to have a degree in Advanced Inflation Dynamics from the Gideon Gono School of Modern Monetary Theory, based in Harare, Zimbabwe.

Later, Palihapitiya tweeted that Americans should also get their 2019 taxes refunded as a form of universal basic income and as additional rocket fuel for hyper-inflation..

Silicon Valley-based Social Capital specializes in investing in startups that serve the greater green good, such as health care, education and financial services, with about $1.2 billion in total assets from liberal loonies.

______________________

Permission is hereby granted to any and all to copy and paste any entry on this page and convey it electronically along with its URL,
______________________