ON AIR NOW
Click to Play
But what wasn't known, until recently, is how far along the International Monetary Fund was in the planning of elevating its so-called "special drawing rights" from mere international agreement to an actual, legitimate global currency.
Policy makers will have no compunction about adding to The Deficit at the next crisis. That’s when hyperinflation will kick us in the teeth.
Lending for commercial loans has collapsed. Even though banks would like you to believe that all is healthy and strong they have a front row seat to the carnage in the CRE market.
I almost choked when I read Lee Bollinger's op-ed piece in the WSJ.com advocating public financial support of the mainstream media. This is the Lee Bollinger who was recently named Deputy Chair of the New York Federal Reserve Bank.
287.4 Billion (62%) of Q1′s public debt is not accounted for on the report. Fortunately when discussing who could digest that much debt in three months, we can quickly eliminate 6 of the 7 “not available” data points...
What will happen instead is they will print so much money in this effort and they won't get the traction, and then it will just tip, it will be like throwing a light switch and it will go from no inflation to hyperinflation instantaneously.
"A grim report given to President Medvedev today by Finance Minister of the Russian Federation Alexei Kudrin is stating that the private European banking conglomerate known as the United States Federal Reserve System, that basically rules over the f
If the Fed has difficulty explaining why banks are unwilling to lend to consumers when there is over $1 trillion in cash sitting and collecting dust, the problem gets even thornier when Bernanke has to defend 4 times this number.
They will change the statement to signal that the balance sheet will remain expanded, and change policy around the MBS program to start reinvesting paydowns." Should the Fed telegraph further easing, expect stocks to surge at least another 10%
This video of Koo explaining this reality is vital viewing for anyone trying to come to grips with our deflationary reality. This article also has a slide show explaining how the US is like Japan.
Mark Hanson: The GSEs and the FHA may be preparing to imminently launch an instant aut-refi program which would take millions of borrowers to current market rates overnight! In the process $45 billion of consumer savings would be created.
The Federal Reserve President of St. Louis James Bullard has warned that current U.S. policy could lead to Japanese style deflation and that a new form of quantitative easing may be necessary, according to CNBC.
The problem is getting runaway. It's becoming a pure Ponzi scheme. It's very nonlinear: You need more and more debt just to stay where you are. And what broke Madoff is going to break governments. They need to find new suckers all the time.
Apparently, all of us little people just need to sit down and keep quiet… so sayeth Kartik Athreya, senior economist for the Federal Reserve Bank of Richmond.
Arizona should have its own bank so taxpayer dollars could help fund local businesses instead of boosting the profits of big multinational banks.
All it takes is one piece of bad news – a credit rating downgrade, for example – to trigger a sell-off. And it is not just inflation that bond investors fear. Foreign holders of US debt – and they account for 47% of federal debt in public hands...
This cartoon is from a few years ago. I think it is not only relevant today, but will likely strike a stronger chord with more people since things are progressing in this direction.
We wince at congressional ineptitude but in one category legislative aptitude is improving: propaganda. The on-again, off-again finance bill (it’s on-again) was described by the Wall Street Journal as “the most extensive remapping of financial regula
Faber said: " I am conviced the Fed will soon implement further quantitative easing," adding "and massively so". "It will probably happen in September, October," Faber said
After fending off challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of US financial rules as the pre-eminent regulator in the sector.
China dumped $33 billion in Treasuries, bringing its total to the lowest since June 2009. Furthermore, Japan also offloaded $8.8 billion in bonds, as did the Oil Exporters.
Whether this will be another $2.5 trillion, like last time, which was the price of an 18 month delay of the inevitable, or a $5 trillion concerted global effort, is irrelevant: the only option the central printers, pardon, bankers, have left is to...
Once again, as has been the case over the past four years, the US borrowed far more in any deficit month, then it needed simply to close the deficit. Case in point, the June differential was $142.5 billion more borrowed than "needed"...
A fading recovery, persistently high unemployment, Europe's debt troubles and commercial real estate losses. But Fed officials are talking more about another trouble zone -- recession-hit U.S. state and local government finances.
The message is straightforward: They're in no position to be raising cash when the oil spill is hitting the state's beaches, threatening tourism, and hammering business
The US sovereign debt gets a stiff downgrade, cut down from number one in the world, to a distant thirteenth place. Governments like China do not take actions like this randomly, and their quasi-state organizations do not march to the beat...
My theory is that the money has floated into the Treasury market. A lot of people have wondered how the Treasury would be able to continue running record deficits without the Fed buying. Well, we now know that the banks are picking up a lot of slack.
The US has a stay of execution while the European crisis unfolds, but at some point the nasty fiscal arithmetic will get everyone, including the U.S… Treasuries are a safe haven the way Pearl Harbor was a safe haven in 1941. It’s safe until it’s not
The Federal Reserve has reclassified $4.4 trillion of IOU’s. They have taken them out of the category “Mortgage Pools and Trusts” and put them on the individual Agency’s balance sheet(s).
Central banks have resumed their diversification away from the U.S. dollar, cutting the percentage of reserve assets held in dollars, as shown by the dark blue line in the chart below.
