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Keyword: federalreserve

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  • What Did Fed Chairman Yellen Tell Obama?

    04/19/2016 11:48:41 AM PDT · by Kaslin · 25 replies
    Townhall.com ^ | April 19, 2016 | Ron Paul
    Last week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply "exchanged notes" about the economy and the progress of financial reform. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed. Yellen's secret meeting at the White House followed an emergency secret Federal Reserve Board meeting. The Fed then held another secret meeting to discuss bank reform. These...
  • No, Really. Itís a Depression

    04/12/2016 6:06:25 PM PDT · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 04/12/16 | Dr. Bruce Smith
    Remove the burden of government ē Restore the Constitution, rule of law ē Limit the power of the Federal Reserve, regulatory agencies ē Stop redistributing wealth It was my great good fortune to be a son of depression parents. My mother and father were born in the early 1920s. They were observant, sensitive, thoughtful parents who took the time to tell stories. They reflected on and spoke of their early years often to their sons, sharing the hopes and fears of their upbringing as we grew up ourselves. They showed us how to observe the world around us. One set...
  • Job totals trail pre-recession levels in 10 US states

    03/25/2016 9:22:44 AM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Mar. 25, 2016 12:18 PM EDT | Christopher S. Rugaber
    Ten U.S. states still have not regained all the jobs they lost in the Great Recession, even after six and a half years of recovery, while many more have seen only modest gains. [Ö] Wyoming had 3 percent fewer jobs last month than it did in December 2007, when the recession began, the Labor Department said Friday. That is the biggest percentage decline among the states. Alabama's job total trails its pre-recession level by 2.7 percent, followed by New Mexico, where job totals are 2.6 percent lower. Some larger states are also still behind. New Jersey has nearly 1 percent...
  • Central banks are already doing the unthinkable - you just don't know it

    03/20/2016 5:22:29 PM PDT · by Lorianne · 14 replies
    Telegraph (UK) ^ | 19 March 2016 | Mehreen Khan
    The lords of finance are losing their touch. Institutions which dragged the world from its worst depression since the early 20th century are finally seeing their magic desert them, if conventional wisdom is to be believed. Eight years on the from the Great Recession, voices as authoritative as the International Monetary Fund and the Bank of International Settlements - dubbed the 'central bank of central banks' - have called time on the era of extraordinary monetary policy. Having hoovered up $12.3 trillion (¬£8.5‚ÄČtrillion) in financial assets and carried out 637 interest rate cuts since 2008, central banks have been stunned...
  • U.S. Federal Reserve Bank Hacked, Possible $100 Million Theft

    03/15/2016 10:19:32 AM PDT · by SeekAndFind · 30 replies
    TruNews ^ | 03/10/2016
    Bangladesh’s central bank said on Monday its account with the US Federal Reserve Bank of New York had been hacked and money had been stolen from it, but that it had recovered some of the funds. The theft occurred February 5th, but officials are just now making public the size of the theft.Bangladesh Bank said it had traced some of the money to the Philippines and was working with anti-money laundering authorities there.However, the Federal Reserve Bank of New York denied that its payments systems were breached: “To date, there is no evidence of any attempt to penetrate Federal Reserve...
  • How a $1 Billion Bank Heist Was Thwarted by a Typo

    03/10/2016 2:23:32 PM PST · by nickcarraway · 4 replies
    KFOR ^ | MARCH 10, 2016
    South Korean Economy Boosted As Won Jumps To New High Hackers helped themselves to $81 million after breaching Bangladesh Bankís systems between Feb. 4 and Feb. 5óbut the massive theft could have been far worse if not for a typo. After successfully transferring $81 million from the bankís account at the Federal Reserve Bank of New York to entities in the Philippines, the hackers tried to transfer another $20 million to a Sri Lankan nonprofit, only they wrote ďfandationĒ rather than ďfoundationĒ as part of its name, an official tells Reuters. While the Fed grew suspicious, routing bank Deutsche Bank...
  • Fed proposes rules to boost stability of financial system

    03/04/2016 2:33:51 PM PST · by Olog-hai · 13 replies
    Associated Press ^ | Mar. 4, 2016 5:26 PM EST | Martin Crutsinger
    The Federal Reserve has put forward new rules aimed at addressing one of the primary causes of the 2008 financial crisis -- the financial exposures that the biggest banks had with each other. The Fed is proposing new limits on that exposure. It hopes the new rules will prevent the type of crisis that engulfed the U.S. financial system in September 2008 when the collapse of Lehman Brothers raised fears about the stability of other banks that had made loans to Lehman. [...] The rules would implement a portion of the Dodd-Frank Act passed by Congress in 2010 in response...
  • The World's Biggest Banks May Very Well Grow Even Larger

    02/23/2016 7:11:16 PM PST · by Tolerance Sucks Rocks · 14 replies
    Fortune ^ | February 23, 2016 | Eleanor Bloxham
    Ever since the financial crisis, many outside the wealthy elite (sometimes referred to as populists) have argued that the largest banks are too big and too risky. Minneapolis Federal Reserve president Neel Kashkari recently echoed those beliefs.Yet if a new Federal Reserve proposal goes through, Wells Fargo and other large banks might get even bigger and riskier, adding billions to their balance sheets that could increase the banks’ risk profiles.The Federal Reserve says the proposal, which specifies the amount and kind of debt that systemically important large banks must hold, could help make sure that those banks can be wound...
  • Donald Trump Bashes Ted Cruz for Missed Vote: 'So Important to Audit the Federal Reserve'

    02/22/2016 6:37:09 PM PST · by VitacoreVision · 134 replies
    Breitbart.com ^ | 22 Feb 2016 | ALEX SWOYER
    GOP frontrunner Donald Trump went after GOP rival Sen. Ted Cruz for missing a Senate vote on a bill that would have audited the Federal Reserve. "It is so important to audit The Federal Reserve, and yet Ted Cruz missed the vote on the bill that would allow this to be done," Trump posted on Twitter on Monday afternoon. Cruz missed a vote on legislation in the Senate that reportedly would have audited the Federal Reserve, as the Guardian noted, as did former Rep. Ron Paul to campaign for his son Sen. Rand Paul. Paul referenced Cruz's missed vote, previously...
  • Burning Down the House in 2016

    02/22/2016 7:08:24 AM PST · by Travis McGee · 85 replies
    Western Rifle Shooters Association ^ | February 22, 2016 | Matthew Bracken
    Hold tight, wait 'til the party's over. Hold tight, we're in for nasty weather. There has got to be a way Burning down the house. By now, it should be obvious to the observant that the 'scoundrels-looting-the-treasury' phase of our economic arc is about played out, and before the entire rotten financial edifice collapses, there will be a war ignited across Europe and the Middle East which will serve as a distraction for the masses, while the very worst of the scoundrels take to ground to wait for the smoke to clear before they emerge. The gangsters actually directing the...
  • Tipton asks board to consider small banks ( Colorado Congressman )

    02/03/2016 2:36:03 PM PST · by george76 · 2 replies
    Grand Junction Media ^ | February 2, 2016 | Gary Harmon
    A coming change in accounting standards could do irreversible damage to community banks, U.S. Rep. Scott Tipton, R-Colo., said in a letter to the Financial Accounting Standards Board. An accounting-standards update due to be issued by the board would change the way all lenders set aside reserve funds in anticipation of possible losses. The board, wrote Tipton and Rep. Patrick Murphy, D-Fla., should take "utmost caution" in proceeding because it has the potential to "irreversibly damage community banks' and credit unions' ability to continue to adequately serve their customers/members and communities and sustain the economic recovery." ... Tipton, a member...
  • EXCLUSIVE: Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises

    01/31/2016 10:11:50 PM PST · by Nachum · 22 replies
    Daily Caller ^ | 1/31/16 | Richard Pollack
    Federal Reserve Bank of New York officials secretly conducted real-time exercises during the 2011 and 2013 debt-limit crisis that demonstrated the federal government could function during a temporary shutdown by prioritizing spending, even as Treasury Secretary Jack Lew publicly claimed many times that such efforts were ‚Äúunworkable,‚ÄĚ according to a new report by the House Financial Services Committee obtained by The Daily Caller News Foundation. The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will...
  • U.S. stocks fall after Fed statement

    01/27/2016 11:50:47 AM PST · by John W · 14 replies
    marketwatch.com ^ | January 27, 2016 | Anora Mahmudova & Sara Sjolin
    U.S. stocks moved back into the red Wednesday after the Federal Reserve left interest rates unchanged and said "economic growth slowed" since its last meeting in December. "Inflation is expected to remain low in the near term," the Fed said in new, more cautious language, that suggests the central bank won't be quick to raise interest rates again. "Lower oil prices and weak global economic growth would make the Fed more cautious about its tightening policy. The second interest rate increase in March has become unlikely," said Jia Liu, research fellow at the American Institute for Economic Research in emailed...
  • The 18 Trillion Dollar Debt, the Biggest Heist on American Citizens in History

    01/23/2016 4:48:31 AM PST · by HomerBohn · 38 replies
    Freedom Outpost ^ | 1/21/2016 | Tony Elliot
    At the end of Obama's second term, it is estimated the national debt will be 20 trillion dollars. Most of this money has gone to frivolous spending by the Federal government, as well as been stolen by various government officials, using the excuse that astronomical sums of money are missing. In the computer age, it would be impossible to lose a trillion dollars, unless it was purposely lost to cover the theft of it. In looking at the numbers, we find that most of the 20 trillion debt is accountable in lost funds. Since 9-11, the US has spent 6...
  • Shadowy federal bureau probably has your credit card information

    01/17/2016 11:53:37 AM PST · by george76 · 11 replies
    Watchdog ^ | January 15, 2016 | M.D. Kittle
    The Consumer Financial Protection Bureau remains "the most out-of-control, unaccountable, and nontransparent agency in the federal government... And we can say that without reservation because this is one of the only agencies that literally operates outside of congressional oversight," added Wise, whose Virgina-based organization "works to protect consumers' right to access free-market goods and services." The CFPB, created under the 2010 Dodd-Frank Act, is funded largely by fees banks pay to the Federal Reserve. While its director, Richard Cordray, has bragged that his bureau has levied more than $141 million in fines used for CFPB education programs or reparation to...
  • Fed Faces Backlash As Retail Fizzles, Factories Fade

    01/17/2016 6:10:58 AM PST · by expat_panama · 24 replies
    Investors Business Daily ^ | 01/15/2016 | JED GRAHAM
    Criticism Mounts Vs. Fed As Stocks, Economy BuckleOutput, Retail Sales Slide Central bank hiked rates as economy barely grew;† fallout is felt worldwide It's becoming clear that the Federal Reserve ran out of patience and pulled the trigger on the first rate hike... New data out Friday showed that retail sales fizzled...†† ... factories slowed further, leading economists to mark down Q4 growth estimates. The Q1 outlook isn't a whole lot better. With oil prices and global stock markets plunging, criticism of the December rate hike is mounting. "Consumers are still keeping their purse strings tight, producers are reducing activity...
  • Was Raising Rates a Yuge Mistake?*

    01/15/2016 5:50:10 AM PST · by expat_panama · 17 replies
    Pragmatic Capitalism ^ | 01/14/2016 | Cullen Roche
    The recent market jitters have a lot of people saying that the Fed might have made a yuge mistake by raising rates. I’ve been a vocal proponent against raising rates, but I am not convinced that this was a policy error (just yet). The risk/reward doesn’t look great in a world where the US economy is fairly weak and global growth is clearly slowing. Here’s my thinking: The risk with rate hikes is creating an extreme divergence in global policy approaches where the US Central Bank, the world’s most important central bank, is tightening policy into a global slowdown. The...
  • Senate rejects Paul's Audit the Fed push

    01/12/2016 1:54:33 PM PST · by SouthReb · 24 replies
    "The Senate on Tuesday rejected Sen. Rand Paul’s (R-Ky.) controversial proposal to audit the Federal Reserve, turning aside a bill that has drawn the ire of the business community and the White House. The Senate voted 53-44 on taking up the presidential hopeful’s Audit the Fed measure. Sixty votes were needed to move forward. Paul won some bipartisan support for the legislation, with Sen. Bernie Sanders (I-Vt.), another presidential candidate, voting in favor. Democratic Sen. Tammy Baldwin (Wis.) backed the bill as well. Sen. Marco Rubio (R-Fla.), who is also running for president, supported moving forward with Paul's legislation, while...
  • Chow Verdict Is an Indictment of the Feds

    01/12/2016 10:22:49 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | January 12, 2016 | Debra J. Saunders
    The verdict is in. On Friday, jurors found 56-year-old Raymond "Shrimp Boy" Chow guilty on all 162 charges against him, including murder, conspiracy to murder, racketeering, trafficking in stolen goods and 154 counts of money laundering. Though the FBI and U.S. attorney's office may feel vindicated by the verdict, the guilty verdict also serves as an indictment of the federal criminal justice system's standard operating procedure. It was the feds, after all, who chose to let Chow out of prison despite his long criminal career. In 2003, the feds freed Chow, who was serving a 160-month sentence on racketeering charges...
  • The Fed Should Let Middle-Class Workers Prosper

    01/09/2016 11:09:50 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | January 9, 2016 | Larry Kudlow
    The Dow Jones lost over 1,000 points this week. It's down 9 percent over the past year. The broader S&P 500 also got clobbered, and is down 7 percent in the past year. What's going on? Is the world coming to an end? Is it 2008 all over again? Will the U.S. import recession from a falling Chinese yuan? Are hard-working middle-class wage earners about to drive up the inflation rate? No, no, no, and no. First up, the drop in the Chinese currency is about 6 percent since last August and the offshore (Hong Kong) yuan has fallen 7.5...
  • Ted Cruz‚Äôs ‚ÄėBig Problem‚Äô (Gold Standard)

    12/26/2015 12:25:25 PM PST · by Isara · 33 replies
    New York Sun ^ | December 26, 2015 | Editorial of The New York Sun
    ...So what is Mr. Cruz's "one big problem"? It turns out to be that he's for honest money, ideally a dollar defined in terms of gold. That is, he's got the same problem that dogged those notorious losers like, to name but a few, Geo. Washington, John Adams, Thos. Jefferson, Andrew Jackson, Grover Cleveland, Wm. McKinley, Thos. Woodrow Wilson, Franklin Roosevelt, Dwight Eisenhower, John Kennedy, and Ronald Reagan.This is a bizarre argument that puts the Huffington Post - the dispatch is by its senior political economy reporter, Zach Carter - in the company of, say, Richard Nixon. It was Nixon...
  • Federal Reserve vulnerable to hackers: Inspector general

    12/23/2015 8:26:52 PM PST · by Citizen Zed · 3 replies
    cnbc ^ | 12-23-2015 | Eamon Javers
    The inspector general for the Federal Reserve is warning that a key database at the central bank needs more cybersecurity protections, according to a summary report. Compiled in the wake of a security control review of the board's Statistics and Reserves system, known as STAR, the report finds that overall, "the Division of Monetary Affairs and the Division of Information Technology have taken several steps to implement information security controls." But the inspector general staff warned that there are several cybersecurity deficiencies in the system. "We found that improvements are needed in the Board's security governance of STAR to ensure...
  • Do We Need the Fed?

    12/22/2015 5:16:04 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 22, 2015 | Ron Paul
    Stocks rose Wednesday following the Federal Reserve's announcement of the first interest rate increase since 2006. However, stocks fell just two days later. One reason the positive reaction to the Fed's announcement did not last long is that the Fed seems to lack confidence in the economy and is unsure what policies it should adopt in the future. At her Wednesday press conference, Federal Reserve Chair Janet Yellen acknowledged continuing "cyclical weakness" in the job market. She also suggested that future rate increases are likely to be as small, or even smaller, then Wednesday's. However, she also expressed concerns over...
  • 'Fediculous!' Why the Fed's Loose Money Sank the Economy

    12/17/2015 5:30:29 AM PST · by xzins · 27 replies
    CBN ^ | 12-17-2015 | Stephen Moore
    Nothing is more bungled in Washington than the role of money in our economy- and that's saying a lot. Almost no one understands how our dollar policy works, and those that say they do are the ones who screwed things all up. The Fed has today bid farewell to seven years of its zero interest rate policy. Hooray. Wall Street is petrified because investors have become hyper-dependent on this zero rate scheme and the floods of dollars injected into the economy just as an addict craves crack cocaine. But the high from easy money, just as with any hallucinogenic drug,...
  • Cruz steps outside GOP orthodoxy with free-market criticism of Fed

    12/04/2015 7:39:10 AM PST · by Isara · 11 replies
    Washington Examiner ^ | 12/4/15 | Joseph Lawler
    For a Republican, Ted Cruz has a unique criticism of the Federal Reserve. The conservative Texas senator and contender for the GOP presidential nomination argues that the central bank is responsible for causing the financial crisis and recession because it kept money too tight in 2008. Cruz's criticism of the Fed is nearly the opposite of the one typically voiced by Republicans, who generally fault Chairwoman Janet Yellen and her predecessor Ben Bernanke for their efforts to ease money. GOP complaints about the Fed have grown since the central bank lowered interest rates to zero and started quantitative easing programs....
  • Woodrow Wilson, Progressive Bogeyman

    11/20/2015 3:36:07 PM PST · by ProgressingAmerica · 37 replies
    National Review ^ | November 20th, 2015 | John Fund
    The racially charged protests that have roiled 23 universities from Yale to the University of Missouri in recent weeks reached Princeton on Wednesday. Members of the Black Justice League left their classes and occupied historic Nassau Hall, which houses the Princeton administration's offices. They demanded that officials acknowledge the racist legacy of Woodrow Wilson - who was president of Princeton before becoming president of the United States and expunge his name from anything named after him. They further demanded "cultural competency training" for anyone teaching at Princeton, courses on the "history of marginalized people," and a designated public space for...
  • The House Just Passed Another Bailout, This Time for Highways and Transit

    11/06/2015 8:44:03 PM PST · by Tolerance Sucks Rocks · 28 replies
    The Daily Signal ^ | November 5, 2015 | Michael Sargent
    Today, the House overwhelmingly passed the Surface Transportation Reauthorization and Reform Act (STRR) to much fanfare.The six-year, $325-billion bill reauthorizes highway and transit funding from the federal Highway Trust Fund that was set to expire on November 20. The bill is being heralded as no less than a historic ‚Äúlong-term‚ÄĚ measure, emerging after ‚Äúten years of short-term band-aids and extensions.‚ÄĚBut make no mistake: Despite the bill‚Äôs name and the exhortations of its admirers, STRR is another status quo bailout, plain and simple.It follows in a long line of short-term bailouts that do nothing to fix the chronic overspending and misallocation...
  • Fed‚Äôs Yellen sees possible December rate rise, gradual hiking path

    11/05/2015 6:52:02 AM PST · by Olog-hai · 6 replies
    Reuters ^ | Wed Nov 4, 2015 8:50pm EST | Howard Schneider and Jason Lange
    Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery. [...] Her remarks pushed bond yields higher and stocks lower. They also caused investors to reset their expectations of a December rate hike above 60 percent, a sign that markets are finally taking the Fed's language seriously after a period in which U.S. central bankers were frustrated by the gap between their own outlook and market bets about their likely course of action. ...
  • QE's Creeping Communism [Peter Schiff]

    11/04/2015 7:53:46 AM PST · by ReaganGeneration2 · 8 replies
    Euro-Pacific Capital ^ | November 3, 2015 | Peter Schiff
    Most economists and investors readily acknowledge that the current period of central bank activism, characterized by extended bouts of quantitative easing and zero percent interest rates, is a newly-blazed trail in economic history. And while these policies strike some as counterintuitive, open-ended, and unimaginably expensive, most express comfort that our extremely educated, data-dependent, central bankers have a pretty good idea as to where the trail is going and how to keep the wagons together during the journey. But as it turns out, there really isn't much need for guesswork. As the United States enters its eighth year of zero percent...
  • Why The Fed Is Ready To Hike Despite Weak Jobs Report

    10/27/2015 3:57:53 AM PDT · by expat_panama · 71 replies
    Investors Busniness Daily ^ | 10/26/2015 | ANDREA RIQUIER
    Was the dismal September jobs report the nail in the coffin for a 2015 interest-rate rise? Markets are acting as if it were, even as some economists think Federal Reserve officials see things differently. Monthly job gains, which had averaged over 200,000 for most of the year, plunged to 142,000 in September and a downwardly revised 136,000 in August. Private hiring was the weakest in three years. The workweek and labor-force participation rates also declined even further. Meanwhile, other data showed U.S. manufacturing and retail sales nearly stalled last month... *** There's Always Next Season An hour after the jobs...
  • The Surprising Disappearance of Inflation

    10/22/2015 8:43:19 AM PDT · by Kaslin · 99 replies
    Townhall.com ^ | October 22, 2015 | Steve Chapman
    In a world in which the Cold War is a fading memory, North Korea and Cuba endure as museums of communism, so no one will forget how criminally insane it always was. In a world haunted by the specter of persistently falling prices, some countries are creating severe inflation, so we can be grateful for its virtual disappearance. One of the governments providing this public service is that of Venezuela, where the currency has lost so much value that even robbers reject it. A recent carjacking victim told The New York Times his armed captors had no interest in his...
  • Is the Federal Reserve Really the Evil Empire?

    10/22/2015 6:17:34 PM PDT · by george76 · 6 replies
    Barrons ^ | October 21, 2015 | John Kimelman
    Two new books are reigniting a century-old debate about the central bankís worthiness. So what do we think of the Federal Reserve, the people who run it, and the role it plays in setting short-term rates and even influencing investment portfolios? While the modern Fed has its supporters, the detractors seem to get most of the ink. As veteran financial journalist Roger Lowenstein wrote in a recent column for The Wall Street Journal, ďNo federal agency, except the Internal Revenue Service, is held in lower regard than the Federal Reserve, according to public opinion surveys. ... The never-ending debate about...
  • When Enemies Infiltrated the White House ( Harry Dexter White and fellow travelers )

    10/21/2015 10:30:39 AM PDT · by george76 · 21 replies
    FrontPage Magazine ^ | March 10, 2013 | Daniel Greenfield
    How a Soviet mole in FDR's inner circle triggered Pearl Harbor Ė and its dire relevancy to our conflict today. ... On December 7, 1941, 353 Japanese aircraft delivered a shocking blow .. Nearly seven years later, Harry Dexter White, a senior official in the Roosevelt Administration, appeared to testify before the House Committee on Un-American Activities . Numerous witnesses, including Whittaker Chambers and Elizabeth Bentley, had implicated White in involvement with the Communist Party and the Soviet Union. ... Harry Dexter White, a Harvard PhD and Assistant Treasury Secretary, had played a major role in creating the World Bank...
  • A Historical Perspective: The Banking Monopoly

    10/21/2015 4:35:26 AM PDT · by george76 · 3 replies
    The Banking Swindle ^ | 02/20/2014 | Stack Jones
    In 1913, the U.S. Congress passed a bill called the Federal Reserve Act of 1913. This bill allowed an independent group to privatize, and take control of Americaís monetary system. The Federal Reserve Bankís name was chosen to deceive the American people into believing that it is a branch of the U.S. government. It isnít. This privately held monopoly gives great power to a handful of international bankers ... The Federal Reserve has no reserves. The name was created prior to the Federal Reserve Act being passed in 1913. This was done to make Americans believe the U.S. banking system...
  • Why Americans Donít Trust the Fed [FED BASHING IS A LONG STANDING TRADITION]

    10/18/2015 4:08:05 AM PDT · by expat_panama · 35 replies
    Wall Street Journal ^ | Oct. 16, 2015 | Roger Lowenstein
    Antipathy to the central bank is a uniquely American tradition. No federal agency, except the Internal Revenue Service, is held in lower regard than the Federal Reserve, according to public opinion surveys. The left accuses the Fed of being too cozy with banks; the right says it is planting the seeds of a massive inflation. [snip] ...President James Madison, previously an opponent, argued that a bank could be useful... [snip] ...the Second Bank strengthened Americaís currency and finances, Andrew Jackson reviled it as a tool of privilege. He vowed to ďkillĒ it, and did. Tocqueville concluded that Americans ďare obviously...
  • Congress Declares Martial Law as Dollar Rapidly Collapsing: ďLiving in Last Days of This Republic.Ē

    10/09/2015 6:25:58 AM PDT · by HomerBohn · 24 replies
    SHTF Plan ^ | 10/8/2015 | Marc Slavo
    The debt ceiling issue is returning to the forefront in American politics, again threatening a government shutdown. Last time, the shutdown resulting in sequester for many agencies that suspended work for many government employees; a great deal of political theater dominated the news cycle; but ultimately, things returned to a basic normalcy. This time may be different, as a number of critical factors face Americans in 2015. Last week, Congress passed ďprocedural martial lawĒ to address stop-gap spending as it faces the debt ceiling crisis again. Meanwhile, this quietly announced martial law forced a vote on bills the same day,...
  • Bernanke: Wall St execs should have gone to jail for crisis

    10/04/2015 2:44:39 PM PDT · by VinL · 26 replies
    Kans.City.com ^ | 10/4/15 | staff
    Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession. Billions of dollars in fines have been levied against major banks and brokerage firms in the wake of the economic meltdown that was in large part triggered by reckless lending and shady securities dealings that blew up a housing bubble. But in an interview with USA Today published Sunday, Bernanke said he thinks that in addition to the corporations, individuals should have been held more accountable....
  • Fed Chair Janet Yellen 'dehydrated,' abruptly ends UMass talk on interest, inflation

    09/24/2015 5:00:55 PM PDT · by LostInBayport · 36 replies
    Mass Live ^ | September 24, 2015 | Jim Kinney
    AMHERST - Federal Reserve Board Chair Janet Yellen said Thursday that she expects the Fed to raise interest rates later this year and then continue gradual increases thereafter during a University of Massachusetts address that ended with her seeking medical attention. A spokesman for the university said the 69-year-old was fine after being checked out by EMTs and was to continue her schedule which included a faculty dinner at the home of Chancellor Kumble Subbaswamy. A spokesman for the Federal Reserve Board said, "Chair Yellen felt dehydrated at the end of a long speech under bright lights. As a precaution,...
  • Fed Audit Shocker: They Come from Planet Klepto(maniac)

    09/20/2015 2:17:29 PM PDT · by entropy12 · 5 replies
    Youtube ^ | Sep 14, 2015 | Best Evidence
    While the world breathlessly awaits the outcome of this weekís FOMC meetingówill the Federal Reserve raise interest rates or wonít it?óone thing is clear regardless: the Fed is driving the U.S. into a 2nd depression in order to carry out its one and only remit now that Americaís ability to produce real jobs has been reduced to ash, namely, propping up criminal banks with multi-trillion-dollar giveaways. Whatís so disturbing about the fatal path that the Fed has been on for 7 years is that it's one the Fed went down before, whenóby its own admissionóit extended and deepened the Great...
  • U.S. stocks tumble as Fed sows fear and confusion

    09/18/2015 2:43:52 PM PDT · by John W · 13 replies
    marketwatch.com ^ | September 18, 2015 | Sue Chang
    U.S. stocks sank Friday, with the S&P 500 and the Dow Jones Industrial Average closing down for the week, as Federal Reserveís decision to leave interest rates unchanged fueled fears about global economic growth. The central bank cited concerns about the global economy and a lack of inflation growth in its Thursday decision to leave interest rates unchanged. ďMany are confused by the outcome of the recent Fed meeting,Ē said Kent Engelke, chief economic strategist at Capitol Securities Management. ďMarkets hate confusion and lack of clarity.Ē The S&P 500 skidded 32.16 points, or 1.6%, to close at 1,958.08 for a...
  • Janet Yellen: The Fed chair who cried wolf? (Does anyone think this woman is competent?)

    09/18/2015 3:22:43 PM PDT · by bestintxas · 19 replies
    Fortune ^ | 9/17/15 | Chris Matthews
    The market is calling the Fedís bluff on raising interest rates. The Fedís September meeting has come and gone, and interest rates remain at zero. The reasoning behind the Fedís decision is sound. With emerging market economies in various states of disarray, global markets have responded by keeping energy prices low and the dollar strong. These forces have conspired to keep inflation here at home quite low. Federal Open Market Committee membersí median projection of inflation for 2015 is just 0.4%, well below itís 2% target, which it has failed to reach for close to a decade.
  • US Federal Reserve holds rates steady in nod to global economic weakness

    09/17/2015 1:10:52 PM PDT · by SeekAndFind · 4 replies
    The Economic Times ^ | 09/17/2015 | Via Reuters
    WASHINGTON: The US Federal Reserve kept interest rates unchanged on Thursday in a nod to concerns about a weak world economy, but left open the possibility of a modest policy tightening later this year. In what amounted to a tactical retreat, the US central bank said an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade. "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the Fed said in...
  • U.S. Equity Futures Slip as Fed's Rate Decision Looms

    09/17/2015 5:37:33 AM PDT · by citizen · 62 replies
    Fox News Business ^ | September 17, 2015 | Victoria Craig
    Fed decision day: The event traders across the globe have anticipated for months has finally arrived. As of 8:00 a.m. ET, Dow Jones Industrial Average futures were 43 points lower, or 0.26% to 16621. S&P 500 futures shed 6 points, or 0.31% to 1982, while Nasdaq 100 futures slid 10 points, or 0.24% to 4370. Todayís Markets Months of speculation about whether September was the month in which the Federal Reserve would begin to lift short-term interest rates is finally coming to a close. The Federal Open Market Committee meets for the final day of its two-day policy-setting meeting, which...
  • Interest-rate hike could tank stocks by 40%

    09/10/2015 2:31:51 AM PDT · by SkyPilot · 157 replies
    WND ^ | 9 Sep 15 | Jerome R. Corsi
    Despite the stock marketís return to triple-digit gains on Tuesday in apparent response to signs that China will take steps to stimulate its economy, bankers worldwide are warning a decision by the Federal Reserve to increase interest rates next week could precipitate a stock-market collapse. Deutsche Bank, the European Unionís biggest bank, has grabbed attention by issuing a warning to the Federal Reserve that a rise in U.S. interest rates now would constitute nothing less than a ďpremeditated controlled demolitionĒ that could cause global stock markets to collapse a dramatic 40 percent. The Federal Reserve is scheduled to decide...
  • Al Qaeda Mag Urges Attack on Koch Brothers, Buffett, Bloomberg

    09/09/2015 8:05:16 PM PDT · by Jet Jaguar · 20 replies
    NBC ^ | Sept 9, 2015 | ROBERT WINDREM and TRACY CONNOR
    A notorious al Qaeda magazine is encouraging lone-wolf terrorist attacks on U.S. economic leaders, including Bill Gates, Michael Bloomberg and Warren Buffett. The list in Inspire magazine also included industrialist brothers Charles and David Koch, internet entrepreneur Larry Ellison, and casino magnate Sheldon Adelson. A prominent economist was also on the list but asked that his name be withheld. Federal Reserve chairman Ben Bernanke was named, though not Janet Yellen, who succeeded him. Also pictured was Jim Walton, one of the heirs to the Wal-Mart fortune, although he was misidentified in the caption as his late father, Sam Walton. Several...
  • European Central Bank ready to give eurozone more stimulus

    09/03/2015 7:56:02 AM PDT · by Olog-hai
    Associated Press ^ | Sep 3, 2015 10:47 AM EDT | David McHugh and Pan Pylas
    The European Central Bank is ready to give the eurozone economy a bigger dose of stimulus if turmoil in China and weaker global growth hurt its modest recovery, President Mario Draghi said Thursday. Market volatility, concern over the effects of a looming interest rate increase in the U.S. and a drop oil prices have spawned uncertainty over the global economy, leading the ECB to cut its inflation and growth forecasts for the eurozone. Draghi said the ECB can add to its Ä1.1 trillion ($1.2 trillion) program if needed to raise inflation or support growth. [Ö] The stimulus is intended to...
  • Rattled investors brace for big week as Federal Reserve considers rate increase

    08/31/2015 3:55:28 AM PDT · by expat_panama · 10 replies
    The Guardian ^ | Sunday 30 August 2015 | Rupert Neate
    After a tumultuous week on the worldís stock markets, investors will be focused on Wall Street Monday ahead of another set of economic reports likely to steer the Federal Reserveís decision on whether to raise interest rates for the first time in almost a decade. The markets open Monday as investors digest news that the Fed is still actively considering a September rate hike. In a speech on Saturday, Stanley Fischer, the vice-chair of the Fedís Board of Governors, suggested inflationary pressures could soon lead to an increase. His comments are likely to add to the volatility of already skittish...
  • Who Is Really Crazy, ĎEnd The Fed,í Or The Fed Itself?

    08/28/2015 2:15:11 PM PDT · by absentee · 19 replies
    The American Spectator ^ | 8/28/2015 | Caleb Howe
    On Friday morning at the Jackson Hole Summit, Judy Shelton of the Sound Money Project and Atlas Network spoke on the subject of the gold standard and addressed the perception that people who even dare to mention it are lunatics or, as The American Spectator noted earlier today, Quixotic. Shelton's presentation focused in the main on the numbers and the policies. Dr. Shelton pointed out that the Fed can't seem to face up to a simple, apparent, easily understood fact: Their policies aren't working. "The difference between our summit, and the one the Feds are holding up the road, is...
  • The Central Bankersí Malodorous War On Savers

    08/28/2015 8:23:19 AM PDT · by PGR88 · 10 replies
    David Stockman's Contra Corner ^ | August 28, 2015 | David Stockman
    To wit, artificial suppression of free market interest rates by the central bank is designed to cause households to borrow more money than they otherwise would in order to spend more than they earn, pure and simple. Its nothing more than a modernized version of the original, crude Keynesian pump-priming theoryóĖexcept it dispenses with the inconvenience of getting politicians to approve spending increases and tax cuts in favor of the writ of a small posse of unelected monetary mandarins who run the FOMC and peg money market interest rates at will. But the whole enterprise is a crock. The consumer...
  • In Less Than 10 Years, The Federal Reserve Has Driven Millions Of American Women Into Prostitution

    08/24/2015 6:03:15 PM PDT · by SeekAndFind · 26 replies
    Zero Hedge ^ | 08/24/2015 | Tyler Durden via SouthBay Research
    Submitted by SouthBay Research Hookernomices: In less than 10 years, the Federal Reserve Has Driven Millions of American Women into ProstitutionMainstreaming Prostitution: Beginning last year, the Bank of England included prostitution in GDP measurements.† According to the Office of National Statistics, prostitution generated $9B a year, adding 0.7% to the UK GDP.† They aren't alone: Sweden, Norway and a few other European countries already include it.† And if you can measure it, you can tax it.† And legalization is necessary for measurement.Prostitution is legal in most of the developed world.† In fact, of the G20 countries, prostitution is illegal...