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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...

    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 ^ | 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.

    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...

    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.