"We Saved the World"

But who will save Benny (and Timmy)? You know I have to chuckle at the chutzpah of this guy. I have to or else I would get really angry knowing how the poor and middle classes were raped and pillaged to “save”…..who? Not the world, but the world’s big money gamblers (bankers, shadow banking system, [...]

Dresdner Drops From Federal Reserve’s Primary Dealer Network

Dresdner Kleinwort Securities LLC dropped from the ranks of securities firms that trade Treasuries with the Federal Reserve, bringing the dealer network back to the smallest in the 49-year history of the system. Dresdner is the second dealer this year to resign from the network of firms which was formalized by the Fed in 1960. [...]

Ron Paul: Storming the Fed

As far as finance and business goes, at least one rule generally holds true… And this rule makes your job as an investor, entrepreneur or analyst ten times easier. The rule? If you can’t explain a particular investment or innovation to an eleven-year-old, then something shady is going on. Credit Default Swaps, Securitization, GSEs, CDOs…all [...]

Bernanke Threatens Economic Collapse If Fed Audited

Federal Reserve chairman Ben Bernanke unleashed an alarming veiled threat of financial terrorism when he was questioned by Rep. Duncan on Thursday about his response to the fact that a majority of Congress co-sponsoring Ron Paul’s H.R. 1207 bill to audit the Federal Reserve. Bernanke clearly regarded the bill’s intent as hostile to the institution [...]

Bernanke Prepared Testimony

As Ben is about to be crucified before the House Committee on Oversight and Government Reform, below is his full prepared testimony. Also, if readers want to watch the hearing live without CNBC’s commercial interruptions for Sham-Wow or Mark Haines doing long division on air to calculate the difference between Dow futures and fair market [...]

The Fed’s Emails

The following may or may not be all the emails that will be referenced at the hearing tomorrow. Oddly (or not) the $78 billion portfolio of problem positions has been redacted. Going through these now… At first blush, sentences like “Ken Lewis’ claim that they were surprised by the rapid growth of the losses seems [...]

Republicans Say Fed Tried to Control Timing of Merrill Loss

House Republican staffers said the Federal Reserve tried to control the timing of disclosures of rising losses at Merrill Lynch & Co. in the weeks leading up to its takeover by Bank of America Corp., according to a memo obtained by Bloomberg. The memo, prepared by staffers for Republican lawmakers at a House Oversight Committee [...]

Federal Reserve Opts For No Change

The Federal Reserve said on Wednesday that it would leave interest rates unchanged, and that economic activity would remain weak for “some time” before growth resumes. It maintained that it was moving ahead with its $300bn Treasury purchase plan and said that it would “continue to evaluate the timing and overall amounts of its purchases [...]

Fed Statement

For immediate release Information received since the Federal Open Market Committee met in April suggests that the pace of economic contraction is slowing. Conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. Businesses [...]

Who Owns the FED

So, who owns the Federal Reserve? Well, it certainly is not the US government, as many would suppose. In fact, I have found that quite a few – including myself last year – who are roughly aware of how the FED works but believe that the owners of the FED is a secret. Well, it [...]

Federal Reserve Mulls Changes to Repo System

The Federal Reserve is considering creating a utility to replace the Wall Street banks that handle US repo market transactions, the Financial Times reported yesterday, citing people familiar with the matter. The proposal is partly motivated by concerns that the structure of the US overnight repurchase market may have exacerbated the financial turmoil that followed [...]

Ron Paul Slams Federal Reserve’s New Dictatorial Powers

Responding to the Obama administration’s new regulatory reform plan, which will officially hand the Federal Reserve complete dictatorial control over the U.S. economy, Congressman Ron Paul told MSNBC that the Fed was now more powerful than Congress. Paul emphasized that no amount of regulation could compensate for a financial system created and controlled by the [...]

Federal Reserve Balance Sheet Update: Week Of June 17

Total Federal Reserve balance sheet assets for the week of June 17 of $2,053 billion consisting of: Securities held outright: $1,176 billion (an increase of $42.8 billion, resulting from $10.9 billion in new Treasury purchases while Fed Agency debt had it single biggest weekly move in over a month, increasing by $30 billion: not surprising [...]

Heal the Money System

On May 23, 1933, Congressman Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, conspiracy, fraud, unlawful conversion, and treason. The petition for Articles of Impeachment [...]

John F. Kennedy vs The Federal Reserve

On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would [...]

Federal Reserve to be Given Sweeping New Powers

The privately owned and run Federal Reserve is to be handed sweeping new powers under Obama administration proposals in a deal that will please bankers who lobbied for more Fed “oversight” of their activities. The new rules would see the Fed given the authority to “regulate” any company whose activity it believes could threaten the [...]

Fed Starting To Panic Over TALF Collateral Concerns

The Federal Reserve of New York is apparently just now realizing that Commercial Real Estate collateral is more than just wishful thinking. In a press release issued earlier, the NY Fed announced that it had picked TREPP to serve as a collateral monitor for the CRE Hail Mary pass better known as TALF. One would [...]

Scam of the Century

When you read the excerpt I’m posting here, I hope you’ll get angry…very, very angry. According to Gary North, a columnist on LewRockwell.com, American banks have received loans from the Federal Reserve and have proceeded to loan that money back to the Federal Reserve for interest. Since September 2008, the Federal Reserve System has approximately [...]

Federal Reserve’s Role is Expanding Beyond its Niche

For most of its history, the Federal Reserve has been a high temple of monetary matters, guiding the economy by setting interest rates but remaining aloof from the messy details of day-to-day business. But the financial crisis has drastically changed the role of the Fed, forcing officials to get their fingernails a bit dirty. Since [...]

Florida Lawmakers Get Behind Bill to Audit the Federal Reserve

Congress apparently believes it’s time to hold the nation’s money managers accountable, and North Central Florida lawmakers agree. All four congressional representatives from Marion and Alachua counties have signed on to a bill that would require an independent audit of the Federal Reserve System by the end of next year. The measure, known as the [...]

« Previous Page — Next Page »