After two smugglers were stopped last week with what at first appeared to be $134bn in US state bonds, the tension and paranoia surrounding the fate of the dollar hit a new high.
Uh, can we have some truth here folks, because none of what is being reported adds up and my BS detector is ringing off the hook.
The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy.
The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 billion week in May.
Though next week's total was broadly in line with expectations, worries about supply have weighed on the U.S. government bond market, which will see a mammoth $2 trillion worth of new debt issued this year.
"Maybe the Treasury market reacted a little negatively and it will continue to be like this," said Suvrat Prakash, U.S. interest rate strategist with BNP Paribas in New York. "Supply
"They're giving a tremendous amount of more power to the Federal
Reserve, the very institution that created our problem." Interview on
MSNBC with Carlos Watson
Congressman Ron Paul told MSNBC that the Fed was now more powerful than Congress.
China will continue to encircle the US dollar, to encircle the vast supply chain, and pursue what should be regarded as a tight noose around the neck of the US Govt. and US economy. Call it a pair of leashes as they walk the dog...
I mean, c'mon, $165 billion in Treasuries for sale in the next week? $31 billion in 3-month, $27 billion in 7-year, $40 billion in 2-year, $37 billion in 5-year, $30 billion in 6-month. Annualized this is $8.58 trillion dollars!
The effort to increase the transparency of the Federal Reserve's operations has picked up surprising momentum over the last month, and has now surged past the 218 votes needed for passage in the House of Representatives.
The bill boasts 222 cosponsors, with more and more rank-and-file members of Congress steadily signing on to a bill introduced in February by Rep. Ron Paul (R-Texas) to expand the authority of the Government Accountability Office to audit the Fed.
On Tuesday, Rep. John Boehner of Ohio, the Republican Leader, signed on. On Thursday, Sen. Jim DeMint of South Carolina, one of the chamber's most conservative members, joined Sen. Bernie Sanders of Vermont, perhaps the Senate's most liberal member, in cosponsoring a companion bill.
More than 50 Democrats have joined more than 150 Republicans so far to back HR 1207. A similar bill sponsored by Rep. Dennis Kucinich (D-Ohio) also has momentum and is on pace for a congression
The question we should all be asking is, “Does Ms Hill really not know that the Federal Reserve is not “federal” or is she, and the Washington Post, by extension, feeding the public blatantly false information so as to keep them from realizing what is going on?
Indeed, China has already begun moving into a new currency, one that is neither fiat nor flawed. That new currency is natural resources.
Ron Paul discusses the latest power grab by the Federal Reserve.
Aimed at preventing a repeat of the
worst economic crisis in seven decades, the changes would begin to
reverse a determined campaign pressed in the 1980s by President Ronald
Reagan to cut back on federal regulations.
Obama's plan, spelled out in an 88-page white paper, would do little to streamline the alphabet soup of agencies that oversee the financial sector. But it calls for fundamental shifts in authority that would eliminate one regulatory agency, create another and both enhance and undercut the authority of the powerful Federal Reserve.
Geithner asked the lobbyists what they were up to. When they explained they preferred that a council of regulators, rather than the central bank, safeguard the financial markets, Geithner silenced them with a string of obscenities: "I don't believe in rule by committee," he said.
Speed is always important when you are attempting to to set yourself up as prosecutor, judge, and jury.
In other words, the Fed, which is already totally unaccountable to Congress, is to be placed in complete control of the entirety of the US financial system, to do as it wishes without repercussion.
The report includes the following table showing all the government support announced in 2008 and soon thereafter. The maximum capacity is $13.9 trillion.
Texas Congressman Ron Paul (R) is trying hard to pass a bill to audit the Federal Reserve. The question is why? Second: what exactly is the Federal Reserve? And, lastly, aside from those exhilarating finance majors who constantly watched CNBC as you drank too much beer in college, who cares?
In a show of cross-party unity, Ohio Democratic Congressman Dennis Kucinich became the bill’s 218th co-sponsor, pushing it over the threshold for debate in Congress.
MELBOURNE, Florida — In a sparsely decorated office suite two floors above a neighborhood of strip malls and car dealerships, former oncologist Douglas Jackson is struggling to resuscitate a dying dream. Jackson, 51, is the maverick founder of E-Gold, the first-of-its-kind digital currency that was once used by millions of people in more than a hundred countries. Today the currency is barely alive. Stacks of cardboard evidence boxes in the office, marked “U.S. Secret Service,” help explain why, as does the pager-sized black box strapped to Jackson’s ankle: a tracking device that tells his probation officer whenever he leaves or enters his home. “It’s supposed to be jail,” he says. “Only it’s self-administered.”