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Keyword: federalreserve

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  • 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 “unworkable,” 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’s ‘Big Problem’ (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 “long-term” measure, emerging after “ten years of short-term band-aids and extensions.”But make no mistake: Despite the bill’s 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’s 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 banks 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, No 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 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 Americas monetary system. The Federal Reserve Banks name was chosen to deceive the American people into believing that it is a branch of the U.S. government. It isnt. 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 Dont 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 Americas currency and finances, Andrew Jackson reviled it as a tool of privilege. He vowed to kill it, and did. Tocqueville concluded that Americans are obviously...
  • Congress Declares Martial Law as Dollar Rapidly Collapsing: Living in Last Days of This Republic.

    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 procedural martial law 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 weeks FOMC meetingwill the Federal Reserve raise interest rates or wont it?one 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 Americas ability to produce real jobs has been reduced to ash, namely, propping up criminal banks with multi-trillion-dollar giveaways. Whats 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, whenby its own admissionit 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 Reserves 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. Many are confused by the outcome of the recent Fed meeting, said Kent Engelke, chief economic strategist at Capitol Securities Management. Markets hate confusion and lack of clarity. 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 Feds bluff on raising interest rates. The Feds September meeting has come and gone, and interest rates remain at zero. The reasoning behind the Feds 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 members median projection of inflation for 2015 is just 0.4%, well below its 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. Todays 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 markets 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 Unions 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 premeditated controlled demolition 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 1.1 trillion ($1.2 trillion) program if needed to raise inflation or support growth. [] 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 worlds stock markets, investors will be focused on Wall Street Monday ahead of another set of economic reports likely to steer the Federal Reserves 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 Feds 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, End The Fed, 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 Bankers 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 theoryexcept 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...
  • The Federal Reserve's foolishness is coming due

    08/24/2015 7:05:22 AM PDT · by SeekAndFind · 8 replies
    American Thinker ^ | 08/24/2015 | By James Longstreet
    All one needs to do is turn to the financial shows and get a litany of financial experts blaming the Federal Reserve and its coming rate hike for the recent market break. They are incorrect. The recent break in equity prices is not about a proposed and measly point rise in rates off of zero. Short term rates were between 4% and 5% in 2007 when the stock market made a then all time high of 14,000. Hand wringing over a pt raise is curious. The Federal Reserves mere hinting of a meager raise didnt roll the Chinese...
  • Staring into a void, investors pull cash from harm's way

    08/20/2015 5:29:26 PM PDT · by SkyPilot · 59 replies
    Yahoo Finance ^ | 20 Aug 15 | By Michael Santoli
    If nature abhors a vacuum, investors arent so crazy about them either. Its hard to avoid all the voids right now. The August Wall Street vacation evacuation is well underway, markets are facing an absence of inflation, huge air pockets underneath commodities and emerging-market currencies and a vexing lack of clarity about what the Fed might do in less than a months time. The collective response to this environment devoid of strong conviction has been to pull cash out of riskier markets and wait. Barclays Capital says more than $90 billion has sought the shelter of money-market funds in...
  • Economists Brace for September: Building Up to Catastrophe of Historic Proportions

    08/18/2015 3:49:31 PM PDT · by Kartographer · 38 replies
    SHTF Plan ^ | 8/18/15 | Mac Slavo
    Is the collapse imminent, and our very way of life under threat of total global meltdown? Perhaps the signs and warnings are there, at every level, for those who want to see it. An outright panic has taken hold over many who see September 2015 as a convergence of ominous events including the Popes visit to America, the United Nations summit on Agenda 21-like development, expectations for a stunning policy change at the Federal Reserve, unprecedented experiments at CERN and the end of the seven year business cycle, a date that has already seen the tragic events of 9/11...
  • I Sure Am Glad There's No Inflation

    08/05/2015 10:02:49 AM PDT · by RedMominBlueState · 41 replies
    Oftwominds.com ^ | August 5, 2015 | Charles Hugh Smith
    I sure am glad there's no inflation, because these "stable prices" the Federal Reserve keeps jaw-jacking about are putting us in a world of hurt. Those of us outside the inner circles of power are glad there's no inflation, because we'd rather get more for our money (deflation) rather than less for our money (inflation). You know what I mean: the package that once held 16 ounces now only holds 13 ounces. A medication that once cost $79 now costs $79,000. (This is a much slighter exaggeration than you might imagine.) Despite all these widely known examples of rampant inflation,...
  • Question. Does US government have accounts at NY Federal reserve?

    07/29/2015 7:24:58 PM PDT · by grumpygresh · 25 replies
    7/29/15 | Grumpygresh
    I'm working on a settlement with a Federal government agency (not IRS). The settlement agreement calls for payment to be wired to an account at the NY Fed. We all know that the Fed is a privately held central bank and not owned by U.S. Does the U.S. Gov have accounts there and why? It seems that money should be sent to US treasury. BTW, they insisted on a wire and not a check. Anyone with legal/financial knowledge would be helpful.
  • Tipton: Federal red tape hurts small banks ( Colorado and .. )

    07/24/2015 8:36:25 AM PDT · by george76 · 6 replies
    Durango Herald ^ | July 23, 2015 | Mariam Baksh
    financial reform increases staffing costs. Small banks are struggling to comply with the Dodd-Frank Act, which was passed to regulate the financial industry in the wake of the 2008 financial crisis, said Rep. Scott Tipton. The Republican from Cortez received some national attention this week for challenging Federal Reserve Chairwoman Janet Yellen to support his plan to ease the burden of Dodd-Frank on small banks. ... Mike Burns, president of Alpine Bank for the Southwest region, said in a phone interview that Dodd-Frank is creating head winds. We really want to focus our time and energy in supporting the communities...
  • Federal Reserve blames immigrant kids for robbing jobs from 'native' U.S. teens

    07/19/2015 7:54:58 AM PDT · by GoneSalt · 38 replies
    Washington Examiner ^ | July 16, 2015 | Paul Bedard
    American teen employment has dropped 20 percent from the late 1980s, in part because more and more immigrants have flooded into the market to displace native-born kids from jobs in percentages far higher than on adults, according to the Federal Reserve. "The displacement effect of immigration on the employment of younger persons is much larger than on the employment of prime-age adults," said the September 2014 report, "Labor Force Participation: Recent Developments and Future Prospects."
  • Texas Launches Gold-backed Bank, Challenging Federal Reserve

    07/15/2015 4:37:37 PM PDT · by VitacoreVision · 55 replies
    The New American ^ | 15 July 2015 | Alex Newman
    The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas.While some analysts have said the move may be another sign heralding Texas eventual...
  • Federal Reserve Vice Chairman Says Economy Is Nearing Full Unemployment

    07/01/2015 7:05:30 AM PDT · by Enlightened1 · 36 replies
    Gateway Pundit ^ | 06/30/15 | Jim Hoft
    Federal Reserve Vice Chairman Says Economy Is Nearing Full Unemployment Real Unemployment Closer to 42.9% Jim Hoft Jun 30th, 2015 5:42 pm 19 Comments According to the Federal Reserve Bank in St. Louis the labor participation rate is at its lowest point since the Carter years. fred labor part rate Federal Reserve Vice Chairman Stanley Fischer told a an audience at Englands Oxford University this week that the US economy is nearing full unemployment. Reuters reported: The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is...
  • Mankiller Money?

    06/24/2015 5:41:28 AM PDT · by Kaslin · 46 replies
    Townhall.com ^ | June 24, 2015 | John Stossel
    A woman will be on the new $10 bill, bumping Alexander Hamilton aside. Treasury Secretary Jack Lew says he will choose the woman by year's end, based on "input from the public." In one survey of the "public," the first female chief of the Cherokee Nation, Wilma Mankiller, placed fourth. I understand the wish to counter sexism prevalent in early America, but "Mankiller?" The name alone probably reveals something about the attitude of some of those voters. Fortunately, more voted for Harriet Tubman. Tubman escaped slavery to become a leader of the Underground Railroad, then repeatedly returned to slave territory...