Keyword: federalreserve

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  • What to make of China's Buying Treasuries Direct?

    06/06/2012 8:48:38 AM PDT · by John S Mosby · 12 replies
    Seeking Alpha ^ | May 22, 2012 | Simit Patel
    A rather significant story to start off the week was that of China's new relationship with the U.S. Treasury, in which China will buy U.S. government bonds directly from the U.S. Treasury - not through primary dealers like Goldman Sachs (GS), UBS and other big banks that are quite unpopular these days.
  • "The End Game: 2012 And 2013 Will Usher In The End" - The Scariest Presentation Ever?

    05/31/2012 6:25:01 PM PDT · by SatinDoll · 58 replies
    The Zero Hedge ^ | 5/31/2012 | Tyler Durden
    If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder of Global Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the...
  • The Fairy's Mistake's Mistake

    05/20/2012 12:39:03 PM PDT · by zantus · 5 replies
    zPatriot ^ | May 18, 2012 | Andrea Clark
    Today, I’m going to use economics to dissect “The Fairy’s Mistake” by Gail Carson Levine: 87 short pages that can be read in an hour. Levine writes charming fairy tales. “Ella Enchanted”, probably her most famous, is about how the use of power leads to unintended consequences, and why liberty is to be desired above all else but requires hard work and bravery to attain. (That’s the book. I haven’t seen the movie and can’t vouch for it.) “The Fairy’s Mistake” is also about unintended consequences. In the classic fairy tale, the naturally good, sweet young maiden freely provides some...
  • Bank of America in real trouble

    10/21/2011 10:00:33 PM PDT · by oneolcop · 58 replies
    Before it's News ^ | 10/19/2011 | Before it's News
    The Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers. Yves Smith notes: If you have any doubt that Bank of America is going down, this development should settle it …. Both [professor of economics and law, and former head S&L prosecutor] Bill Black (who I interviewed just now) and I see this as a desperate move by Bank of America’s management, a de facto admission that they...
  • A Rebellion at the Federal Reserve? (Must of read Krugman)

    05/03/2012 6:47:58 AM PDT · by C19fan · 30 replies
    The Atlantic ^ | May 2, 2012 | Matthew O'Brien
    Chicago Federal Reserve president Charles Evans doesn't look the part of a heretic. But in the cozy, conservative club that is central banking, he certainly qualifies. While most of his colleagues at the Fed have recently taken an even more hawkish turn, Evans remains a champion of additional monetary stimulus. And on Tuesday he took an even bigger step: He became the first sitting Fed member to endorse nominal GDP (NGDP) level targeting. Sounds wonky? It is. But here's why Evans' suggestion is also extremely bold. The Fed famously has a dual mandate: It's supposed to promote the maximum level...
  • Transparency and The Fed: Transcripts Belie Rhetoric

    05/02/2012 1:35:30 PM PDT · by Mikey_1962
    New American ^ | 5-2-12 | William F. Jasper
    Five hundred pages of redactions. Mostly blank pages. That's what the public gets to see in the transcripts of the Federal Reserve Open Market Committee (FROMC) meetings for 2007-2010. The long-awaited transcripts, released on March 7, pursuant to a Freedom Of Information Act request by MSNBC's Dylan Ratigan Show, undoubtedly hold some very important information about the Fed's activities and decisions during and since the financial crisis, including to whom the Fed has given trillions of taxpayer dollars in "loans" and bailouts - and on what terms. Not all of the recently released transcript pages are completely blank; some of...
  • HIZBOLLAH VICTIMS BRING HISTORIC CIVIL SUIT AGAINST MEGA-BANK

    05/12/2008 4:10:03 PM PDT · by SJackson · 12 replies · 99+ views
    IMRA ^ | 5-12-08
    HIZBOLLAH VICTIMS BRING HISTORIC CIVIL SUIT AGAINST MEGA-BANK May 12, 2008 For Immediate Release VICTIMS OF HIZBOLLAH MISSILE ATTACKS BRING HISTORIC CIVIL ACTION AGAINST UBS IN NEW YORK FEDERAL COURT A group of American victims of Iranian sponsored terror have filed a civil action in the United States District Court for the Southern District against the Swiss mega-bank, UBS AG. The plaintiffs, all of whom had family members injured or killed in Iranian-backed terror attacks, allege that UBS' unlawful eight year-long provision of financial services to the Islamic Republic at the time Iran was providing material support to terrorist organizations...
  • Monetary Sedition

    04/17/2012 6:31:37 AM PDT · by arthurus
    Seeking Alpha ^ | April 15, 2012 | The Inflation Trader
    Is it really necessary to have a canary in the coal mine when the mine is belching clouds of noxious smoke? Today’s Empire Manufacturing Report surprised on the weak side by printing only 6.56 for April, the weakest number of the year so far although still well ahead of the lows from last year (see Chart, source Bloomberg).
  • Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now

    04/15/2012 6:49:01 AM PDT · by M. Dodge Thomas · 6 replies
    Federal Reserve Bank of Dallas ^ | 4/1/2015 | Harvey Rosenblum
    The too-big-to-fail institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism. It is imperative that we break up the big banks...
  • We Need Gold Standard to Stabilize Dollar

    04/11/2012 3:04:03 PM PDT · by SaveOurRepublicFromTyranny · 17 replies
    MoneyNews.com ^ | April 9, 2012
    The dollar has lost 85 percent of its purchasing power since the government scrapped the gold standard in the early 1970s, and it's up to Congress to obey the Constitution and bring the system back, says historian and investor Lewis E. Lehrman, author of the book "The True Gold Standard."
  • US futures tumble as Fed backs away from stimulus

    04/04/2012 11:48:36 AM PDT · by NormsRevenge · 10 replies
    Yahoo ^ | 4/4/12 | AP
    NEW YORK (AP) -- Stock futures tumbled Wednesday after economic policymakers signaled that they may be less willing to fund more economic growth through bond purchases. The Dow Jones industrial average futures fell 112 points to 13,020. The Standard & Poor's 500 index futures fell 12.1 points to 1,396.7. The Nasdaq composite futures slipped 21.25 points to 2,757.75. The Institute for Supply Management will release its services index at 10 a.m. Eastern time and economists expect it to show that growth has cooled compared to February, which came in at the highest growth in a year. But it was the...
  • WSJ: Fed Buying 61 Percent of US Debt (Japan, China that once scooped up U.S. debt are shunning it)

    04/02/2012 6:01:00 PM PDT · by SeekAndFind · 32 replies
    Money News ^ | 04/02/2012 | Julie Crawshaw and Forrest Jones
    The Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday. "Last year the Fed purchased a stunning 61 percent of the total net Treasury issuance, up from negligible amounts prior to the 2008 financial crisis," Goodman writes. Goodman also warns that U.S. economy and markets are “at risk for a sharp correction” if conditions aren’t “normalized.” "This...
  • The U.S. of Orwell, "Consumer Protection" Just Another Federal Reserve Power Grab

    03/30/2012 11:09:01 AM PDT · by SaveOurRepublicFromTyranny · 7 replies
    Zero Hedge ^ | March 29, 2012 | Tyler Durden
    This is truly Orwellian: the latest and greatest Executive Branch/Federal Reserve power grab is labeled "consumer protection." I am indebted to correspondent Jim S. who seems to be one of the few Americans to have actually sorted through this monstrosity and gleaned its true nature: an unprecedented extension of Executive (i.e. Imperial Presidency) and Federal Reserve power.
  • BERNANKE BELIEVES ‘MONOPOLY MONEY’ IS MORE VALUABLE THAN GOLD! Grumbles how he can’t Adjust Gold

    03/22/2012 1:05:10 PM PDT · by geraldmcg · 11 replies
    WebToday ^ | 3-22-12 | WebToday
    Federal Reserve Chairman Ben Bernanke is giving lectures on the University Circuit attacking the proposal for the U.S. to return to a gold standard. In his contempt for honest money, Bernanke argued that government monopoly money is more valuable than gold! In his incredulous argument Bernanke said that the strength of a gold standard is its greatest weakness because if the money supply is determined by the supply of gold, it cannot be ‘adjusted’ (a.k.a. manipulated by the Fed and politicians) in response to changing economic conditions." That’s the whole point! Our founding fathers intentionally implicitly mandated that money had...
  • SOUND DOLLAR ACT INTRODUCED BY TX REP. KEVIN BRADY TO RESTORE STRONG DOLLAR

    03/17/2012 6:24:41 PM PDT · by SaveOurRepublicFromTyranny · 7 replies
    THE FREEDOM POST ^ | March 17, 2012 | Matthew Burke
    U.S. Representative Kevin Brady (R-TX), Vice Chairman of the Joint Economic Committee, has introduced the Sound Dollar Act - legislation that would transform the mission and operations of the Federal Reserve to lay the foundation for strong economic growth for America in the future. “America’s clear goal should be to preserve the strongest economy in the world throughout the 21st Century. To achieve that we need to get the role of the Federal Reserve right”, said Brady. “A sound dollar creates the strongest foundation for economic growth and output, while generating certainty and encouraging new business investment for job creation....
  • Arse Backwards: The Federal Reserve's Approach to the Housing Market

    03/08/2012 5:57:09 AM PST · by SeekAndFind · 7 replies
    Forbes ^ | 03/08/2012 | Steve Forbes
    In reaffirming its near 0% interest rate policy for another three years the Federal Reserve averred that this was ­necessary to revive the housing market, which, in turn, was necessary for the economy to revive. House building and the buying and selling of existing homes are meaningful parts of the economy. More important, from the Fed’s perspective a house is the biggest asset for millions of people; therefore, higher values mean owners will be more likely to spend. This reasoning is arse backwards. A strong economy—and minimal gov­ernment interference—would rapidly revive the housing market. People who want to buy houses,...
  • The Fed: Oops, we're doing it again!

    03/07/2012 2:58:35 AM PST · by OwenKellogg · 5 replies
    American Thinker ^ | March 6, 2012 | Frank Ryan, Colonel, USMCR (Retired)
    The Fed: Oops, we're doing it again! By Frank Ryan No sooner had the housing market bubble burst in 2008 than the culprit for the real estate bubble was identified, in part, as the teaser interest rates. Teaser interest rates, also called adjustable rate mortgages, are very low short-term interest rates which reset to more normal longer term rates after a period of time. These teaser interest rates allegedly enabled people to buy a type or size of home beyond that which they ordinarily might have afforded due to very low initial monthly payments. When these interest rates reset after...
  • 0.2% Interest? You Bet We’ll Complain (Near 0 interest rates subsidize banks, punish savers)

    03/05/2012 5:50:54 AM PST · by SeekAndFind · 33 replies
    New York Times ^ | 03/05/2012 | Gretchen Morgenson
    STOP your bellyaching. That was the message delivered last Thursday to Americans who today make almost nothing on the savings in their bank accounts. It came from Sarah Bloom Raskin, an insider at the Federal Reserve. Ms. Raskin, one of the governors on the Fed board, made the usual disclaimer that her comments reflected her own thinking. But Fed watchers said her remarks probably mirrored views inside the central bank. The issue — as anyone looking for income-producing investments knows — is that the Fed drove down interest rates to almost zero to shore up big banks and an economy...
  • Bernanke warns of slow progress ahead on jobs

    03/01/2012 2:09:34 AM PST · by U-238 · 7 replies · 2+ views
    Reuters ^ | 3/1/2012 | Mark Felsenthal and Pedro da Costa
    Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery. Bernanke told Congress that unless growth accelerated, the unacceptably high U.S. unemployment rate would not keep dropping. But he stopped short of signaling further Fed bond purchases, dashing the hopes of some traders in financial markets who were betting on more monetary stimulus. "The job market is far from normal," Bernanke said. "Continued improvement ... is likely to require stronger growth in final demand and production." The swift decline in the...
  • House Republican Seeks Fed Overhaul

    02/24/2012 9:39:27 AM PST · by bizlawnews · 7 replies
    WASHINGTON, Feb. 24 (LID) – A leading House Republican said he plans to introduce legislation aimed at reining in the Federal Reserve’s powers and focusing the U.S. central bank on protecting the value of the dollar. Rep. Kevin Brady (R-Texas) said the Federal Reserve should have the singular focus of curbing inflation to protect the dollar, rather than also being charged with promoting maximum employment.
  • 10 Things That Every American Should Know About The Federal Reserve

    02/14/2012 8:33:55 PM PST · by Iam1ru1-2 · 13 replies
    worldviewweekend.com ^ | Michael Synder
    What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of...
  • Kudlow: A King Dollar GOP?

    02/13/2012 5:19:08 PM PST · by Tolerance Sucks Rocks · 22 replies
    GOPUSA ^ | February 13, 2012 | Lawrence Kudlow
    Out on the campaign trail, Fed head Ben Bernanke is an unpopular guy. Mitt Romney and Newt Gingrich have both said they would replace Bernanke, not reappoint him. Rep. Ron Paul would swap the whole Federal Reserve monetary system for a gold-linked dollar, making the yellow metal legal tender. And it was Gov. Rick Perry of Texas, before he dropped out of the race, who said more quantitative easing by the Fed would be "almost treasonous." Republicans in Washington are equally unimpressed by Bernanke. Rep. Paul Ryan recently criticized the Fed for bankrolling our huge budget deficits and thereby accommodating...
  • If The Federal Reserve Is Abolished, What Then? (What replaces it?)

    02/10/2012 6:14:38 AM PST · by SeekAndFind · 28 replies
    CNBC ^ | 02/10/2012 | Mark Koba
    Many critics of the Federal Reserve won't be satisfied until the central bank is shut down for good. But abolishing the Fed only raises the bigger issue: What would—or should—be in its place? The debate is hardly new. Efforts to set a cohesive national monetary policy through a central bank in the U.S. have been many and turbulent. However, pushing the Federal Reserve building into the Potomac River wouldn't be easy. Let's see how the process could play out. What has to be done? The first thing to do in getting rid of the Fed is for Congress to repeal...
  • The Federal Reserve's Explicit Goal: Devalue The Dollar 33%

    02/07/2012 4:00:07 AM PST · by Tolerance Sucks Rocks · 33 replies
    Forbes ^ | February 6, 2012 | Charles Kadlec
    The Federal Reserve Open Market Committee (FOMC) has made it official: After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years. The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level. An increase in the price level of 2% in any one year is barely noticeable. Under a gold standard, such an increase was uncommon, but not unknown. The difference is that when the dollar was as good as gold, the years of...
  • Paul Ryan Bashes Bernanke For Killing Savings, Distorting Markets

    02/02/2012 9:37:14 AM PST · by Hunton Peck · 23 replies
    Forbes ^ | 2/02/2012 @ 11:49AM | Agustino Fontevecchia
    In a fascinating exchange between Federal Reserve Chairman Ben Bernanke and Congressman Paul Ryan, the Republican from Wisconsin accused the Fed of eroding peoples’ savings, creating a false sense of security by manipulating the yield curve, and bailing people out by indirectly engaging in fiscal policy. Bernanke hasn’t been comfortable the last couple of times he was forced to testify in Congress. On Thursday, the Fed Chairman was questioned by the House Budget Committee on the state of the economy. After giving his usual description of the economic outlook (inflation has remained moderate, unemployment is high, Fed will do whatever...
  • What is Constitutional Money?

    01/31/2012 9:48:58 AM PST · by Chuckmorse · 11 replies
    A Whig Manifesto ^ | January 30 | Chuck Morse
    Constitutional money is identified in the plain and unambiguous language of the U. S. Constitution itself. Article I, Section 8, clause 4 contains the following clause: The Congress shall have power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures. This means that the Congress, elected to represent the interests of the citizen, has the responsibility to regulate the value of our money. The value of money is regulated by how much or how little money is created. If too much money is created than the value and therefore the...
  • One Dam Metaphor For The 2012 Global Financial System

    01/31/2012 7:23:41 AM PST · by blam · 4 replies
    Of Two Minds ^ | 1-30-2012 | Charles Hugh Smith
    One Dam Metaphor For The 2012 Global Financial SystemJanuary 30, 2012Charles Hugh Smith What do you do when flood waters threaten the dam? If you're the Federal Reserve, you close the floodgates and let the water rise. Metaphors have an uncanny ability to capture the essence of complex situations. Here is one dam metaphor that distills and explains the entire global financial system in 2012. The way to visualize the current situation is to imagine a dam holding back rising storm waters. The dam is the regulatory system, the rule of law, trust in the transparency and fairness of the...
  • Keeping Rates Low Until 2014?

    01/27/2012 1:01:48 PM PST · by Razzz42 · 5 replies
    Armstrong Economics ^ | January 26, 2012 | Martin Armstrong
    While the first reaction is for gold to rally and the pundits to come screaming out of the weeds yelling it’s inflationary, the harsh reality of this statement is actually DEFLATIONARY and not INFLATIONARY. The assumption is that the Fed will keep money cheap and that will mean more inflation. However, this is actually an international demonstration of pure insanity – the attempt to keep applying the same methods and expecting a different result than what was achieved in the past or in Japan. Those prognosticating INFLATION will be left behind just watching as has been the case all along....
  • Bernanke Goes All In

    01/26/2012 8:32:21 PM PST · by quicksilver123 · 6 replies
    These New Times Blog ^ | 1/26/2012 | Bruce Krasting
    Well, we got an inflation target from the Fed. Basically, thinking at the Fed has been eliminated. The process has been automated. Bernanke has convinced the Fed board to adopt Core PCE as a determinate of monetary policy. So long as CPCE stays below 2%, Ben is going to have his foot planted on the monetary metal. It’s “full speed ahead” according to the Chairman. He’s pushed things off until 2014 – a very long time from now. My question: “Why is the Fed using CPCE versus another measure of inflation?” The very good news is that there is answer,...
  • Triple Lutz Report–The World Changed Yesterday-Gold and Silver Did Not--01-26-2012

    01/26/2012 9:49:28 AM PST · by appeal2 · 1 replies
    The Financial Survival Network ^ | 01/26/2012 | Kerry Lutz
    Yesterday was a watershed event. The Fed capitulated and acknowledged that the economy will require zero percent interest rates into the indefinite future. Just six months ago they were saying the policy would only continue through to the end of 2012. What happened to change their view of the economy? Perhaps, for once, they decided that honesty is the policy. But, that would be too much to hope for. No, they are hell-bent on making things look as good as they possibly can for the upcoming election. They had to acknowledge the obvious: the economy is weak and looking even...
  • Bernanke has "finger on trigger" for new bond buys (raising expectations for QE3)

    01/26/2012 6:35:50 AM PST · by SeekAndFind · 4 replies
    Reuters ^ | 01/26/2012 | By Ann Saphir and Jonathan Spicer
    The Federal Reserve has moved closer to embarking on a new round of its controversial money-pumping after the central bank and its chairman Ben Bernanke highlighted a grim outlook for the U.S. economy. Bernanke on Wednesday opened the door a bit wider for the Fed to return to buying securities in the months ahead to buttress a weak recovery and keep inflation from slipping too far below its newly adopted 2-percent target. "It sounds like the finger is on the trigger," said Thomas Simons, a money market economist at Jefferies & Co. The Fed's announcement that it was unlikely to...
  • Federal Reserve says no rate hikes until at least late 2014

    01/25/2012 12:11:57 PM PST · by ColdOne · 7 replies
    msnbc.com ^ | 1/25/12 | msnbc.com news services
    The U.S. Federal Reserve said Wednesday it will not raise interest rates until at least late 2014, even later than investors expected, in an effort to support a sluggish economic recovery. Without making major shifts to its outlook for the economy, the central bank described the unemployment rate as still elevated and said it expects inflation to remain at levels consistent with stable prices. “I think what they are seeing is that the rate of growth is not sufficient to bring down the unemployment rate,” said Brian Dolan, chief strategist at Forex.com. The Fed depicted business investment as having slowed,...
  • Fed extends low-rate vow in bid to help economy (likely until at least late 2014)

    01/25/2012 11:19:57 AM PST · by NormsRevenge · 10 replies
    Yahoo ^ | 1.25.12 | Pedro da Costa and Mark Felsenthal - Reuters
    WASHINGTON (Reuters) - The Federal Reserve on Wednesday said it will likely not raise interest rates until at least late 2014, much later than it had said previously, as it nurses a still-sluggish economic recovery. The Fed, after a two-day policy meeting, repeated its view that the economy faces "significant downside risks" but it offered little to suggest it was close to launching another round of bond-buying to prop up growth. It did say, however, that it would maintain a "highly accommodative" monetary policy stance. Economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at...
  • Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent

    01/24/2012 4:25:59 PM PST · by OPS4 · 41 replies
    CNS news ^ | 1/24/12 | Christopher Goins
    So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. (AP Photo) During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon,...
  • Who Got The Money? Newt Gingrich on the Federal Reserve

    01/24/2012 5:37:02 PM PST · by Jim Robinson · 18 replies · 1+ views
    Video ^ | New Gingrich
    Audit, neuter and rein in the Fed!! Repeal Sarbanes-Oxley! Repeal Dodd-Frank!! Also, not on this clip but I've seen him say it elsewhere: Fire if not jail Bernanke!! Click the source link for the video.
  • The political impact of the Fed's FOMC statement tomorrow and in November

    01/24/2012 2:59:16 PM PST · by packback
    Milwaukee Story ^ | 11.24.11 | Shaun Booth
    Looking at the Federal Reserve's FOMC meeting schedule for the rest of the year one meeting looms politically large, the meeting on October 23-24 (September 12th a close second). This meeting takes place just two weeks before the November 6th Presidential election. A Fed decides to make a dovish move at this meeting, thereby rallying the markets just weeks before the election, there is no question it would have a psychological effect on voters in favor of the Obama administration.
  • Will the Fed Bring Clarity or Confusion?

    01/22/2012 8:36:42 PM PST · by quicksilver123 · 1 replies
    These New Times ^ | 1/22/2012 | Bruce Krasting
    Next Wednesday, between 12:30 and 2PM, we will get a ton of new information to digest and analyze. The Federal Reserve will make a series of statements while unveiling its new communication effort. A portion of the new information will be contained in the revised Summary of Economic Projections (SEP). The Fed has worked long and hard on its new communication policy. The question is, “What will people think and how will the markets react?” I believe that there is a very good possibility that the Fed’s plan will add to uncertainties regarding monetary policy. Contrary to its objectives, the...
  • Gingrich: U.S. should reconsider gold standard

    01/19/2012 12:56:22 PM PST · by SeekAndFind · 51 replies
    CNN Money ^ | 01/19/2012 | Chris Isidore
    Republican presidential candidate Newt Gingrich is calling for the United States to think about returning to the gold standard. Speaking at a foreign policy forum in South Carolina on Tuesday, Gingrich advocated a "commission on gold to look at the whole concept of how do we get back to hard money." Gingrich, a former Speaker of the House, has spoken in favor of a "hard money" policy in the past, but these were his strongest comments to support reinstating the gold standard. Gingrich would model his "gold commission" after one put in place after Ronald Reagan was elected, when the...
  • G Edward Griffin Says There's No Place to Hide

    01/18/2012 2:44:47 PM PST · by appeal2 · 7 replies
    www.KerryLutz.com ^ | 01/18/2012 | Kerry Lutz
    G. Edward Griffin joined us today. For those not familiar with his work, he wrote the definitive book on the Federal Reserve--The Creature From Jekyll Island, which details the shady dealings that went on to pass the Federal Reserve Act through Congress. Unfortunately too few people are familiar with this tale. Griffin has remained active in the debate and believes that everything that's going on right now is a prelude to The New World Order and universal totalitarianism. When faced with the decision to Get out of Dodge or to fight to restore the greatness of America, Griffin believes that...
  • Despite Past Failures, Fed Looks To Print More Money (QE3 here we come!)

    01/14/2012 5:27:03 AM PST · by SeekAndFind · 10 replies
    IBD ^ | 01/14/2012
    Recovery: The media have busied themselves with touting the big economic rebound they see brewing in the U.S. We hope they're right. But if they are, why is the Federal Reserve getting ready to print even more money? The media argument goes like this: After years of struggling, the economy is finally churning out jobs. Last month alone there were 200,000 new ones, with unemployment falling to 8.5% - its lowest since Obama entered office. But say this for the Fed: It didn't sit on its hands. In those first two QE efforts, it bought $2 trillion of government-backed mortgage...
  • Inside The Fed In 2006: A Coming Crisis, And Banter

    01/13/2012 12:50:04 PM PST · by edpc · 11 replies
    NYT via Yahoo News ^ | 13 Jan 2012 | BINYAMIN APPELBAUM
    WASHINGTON — As the housing bubble entered its waning hours in 2006, top Federal Reserve officials marveled at the desperate antics of home builders seeking to lure buyers. The officials laughed about the cars that builders were offering as signing bonuses, and about efforts to make empty homes look occupied. They joked about one builder who said that inventory was “rising through the roof.” But the officials, meeting every six weeks to discuss the health of the nation’s economy, gave little credence to the possibility that the faltering housing market would weigh on the broader economy, according to transcripts that...
  • In Fed Officials’2006 Meetings,No Deep Worry on Housing[Elegant as Eiffel Tower, Paris or Vegas]

    01/12/2012 5:56:10 PM PST · by fight_truth_decay · 6 replies · 2+ views
    NYTimes ^ | January 12, 2012 | BINYAMIN APPELBAUM
    WASHINGTON – The desperation of homebuilders was a running joke among top Federal Reserve officials during the waning phase of the housing bubble in 2006, according to transcripts released Thursday. They laughed about the cars that builders were giving to buyers. They laughed about efforts to make empty homes look occupied. They laughed at a report that one builder said inventory was rising “through the roof.”
  • Ben Bernanke Offers A Game-Changing Recommendation For The Housing Industry

    01/05/2012 6:49:24 AM PST · by Whenifhow · 32 replies · 1+ views
    Business Insider ^ | 1.4.12 | Simone Foxman
    A white paper (via @carney) sent from Ben Bernanke to the chairs of the Senate and House committees of banking and financial services and released today is not just a subtle nudge at Congress to do something to address lingering weakness in the housing industry. For the generally tight-lipped Federal Reserve, this sounds a lot like a call to action. In the release, the Fed suggests that the government find a way to convert a significant segment of the stock of real estate owned properties (REOs)—essentially, properties held by banks or other institutions after foreclosure—into rentals. While it refrains from...
  • Trillion Dollar Civil Lawsuit Filed in Federal Court against United Nations and other defendants

    01/02/2012 10:17:54 AM PST · by Ahithophel · 7 replies
    Neil F. Keenan, Individually and as Agent for The Dragon Family, citizens of foreign states v. Daniele Dal Bosco, et al. No. 11-cv-08500-JFK filed in the United States District Court for the Southern District of New YorkParagraph 1 of the Complaint:"This is a civil claim arising out of the concerted, knowing, malicious scheme and international conspiracy engaged in by the Defendants for the designed purpose of defrauding plaintiff KEENAN, the designated Agent of his Principal, the 'Dragon Family,' for the express purpose of expropriating, stealing and converting certain negotiable financial instruments lawfully owned by the Dragon Family and entrusted to...
  • Former Fed VP Accuses Bernanke Of Bailing Out Europe Via Currency Swaps

    12/28/2011 10:32:58 AM PST · by cowtowney · 9 replies
    Zerohedge ^ | 12/28/2012 | Tyler Durden
    First it was Zero Hedge. Then Ron Paul joined in. Now it is the turn of a former Dallas Fed Vice President, Gerald ODriscoll, to outright accuse the Fed of bailing out Europe courtesy of "incomprehensible" currency swaps, and implicitly accusing Bernanke of lying that he would not bail out Europe even as he has done precisely that. And not only that: by cutting the USD swap spread from OIS+100 to OIS+50, the Fed has made sure it gets paid less than ever for extended Europe the courtesy of bailing it out all over again. Incidentally, O'Driscoll says, "America's central...
  • Obama picks two Federal Reserve nominees

    12/27/2011 10:33:29 AM PST · by ColdOne · 12 replies
    Politico44 ^ | 12/27/11 | BYRON TAU
    Obama will announce Tuesday that he plans to nominate a Harvard University finance professor and a former private-equity executive to fill the two vacancies on the seven-member Federal Reserve Board, a White House official said. The nominees are Jeremy Stein, 51 yeas old, an economist who did a five-month stint in the Treasury and White House in the early months of the Obama administration, and Jerome Powell, 58, who was undersecretary of the Treasury for domestic finance in the early 1990s during the George W. Bush administration.
  • Bizarre Claim for $1 Trillion

    12/16/2011 8:37:17 PM PST · by phockthis · 15 replies · 1+ views
    MANHATTAN (CN) - An American expatriate in Bulgaria claims the United Nations, the World Economic Forum, the Office of International Treasury Control and the Italian government conspired with a host of others to steal more than $1.1 trillion in financial instruments intended to support humanitarian purposes. The 111-page federal complaint involves a range of entities common to conspiracy theorists, including the Vatican, Illuminati, the Masons, the "Trilateral Trillenium Tripartite Gold Commission," and the U.S. Federal Reserve.
  • Records Reveal Contact Between Corzine and the Fed in MF Global's Final Days (Obama's fundraiser)

    12/15/2011 4:12:46 AM PST · by tobyhill · 12 replies
    Fox News ^ | 12/15/2011 | fox news
    It was a humiliating moment, but Jon Corzine was determined to put the best face on it. On Oct. 25 of last year -- six days before the stunning collapse of MF Global Holdings Ltd., the New York-based brokerage and commodities firm he headed -- Corzine released the company's dismal results for the second fiscal quarter of 2012. Revenue, he was forced to report, had declined from the same period the year before, from over $240 million to about $205 million; and selected losses for shareholders were estimated at $191.6 million, an increase of almost $100 million from the prior...
  • David Morgan--Precious Metals Smash Down Report

    12/15/2011 6:58:02 AM PST · by appeal2 · 1 replies
    KerryLutz.com ^ | 12/15/2011 | Kerry Lutz
    Listen to the InterviewDavid still has a shine for many precious metals stocks, that he believes are trading at extreme discounts. It's times like these that require serious and seasoned investors to simply filter out the noise and concentrate on the fundamentals. And the fundamentals are unchanged and perhaps more favorable to the metal sector than ever before. Governments have gotten neither spending, nor debt under control and don't seem to be very inclined to do so in the near future. This means that until people and governments start to live within their means, not much is going to change...
  • Fed Denies Secret Loans

    12/09/2011 4:14:40 PM PST · by Kaslin · 6 replies
    Townhall.com ^ | December 9, 2011 | Mike Shedlock
    The Fed and the Wall Street Journal have both taken issue with Bloomberg's article Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress In response to the above article, the Fed went on a publicity campaign, lashing back at Bloomberg and others (but did not mention anyone by explicit name) in this Memo to Congress. Bloomberg Stands By Its Reporting