Looking at China we observe that the country actually sold off Long Term UST (while buying Short Term Bills): this means that the Fed, with its $966 billion in US paper is now untouchable at the top of all holders of US Treasurys.
Interest rates are marching upward, making it more expensive to take out a mortgage or get a loan to expand a business, and diluting efforts by Congress and the Federal Reserve to strengthen the economy.
Compare-and-contrast the fates of Ireland and Iceland
Moscow’s Micex exchange started trading the yuan against the ruble for the first time today, as Russia and China seek to reduce the use of dollars in trade.
Unfortunately, things have changed. Confidence is U.S. Treasuries is dying, and if confidence in U.S. government debt completely collapses at some point we could literally be looking at financial Armageddon.
These are pure casinos, they are not capital markets, they are not adding to the productive capacity of our economy, they simply are a bunch of robots trading with each other by the millisecond as a result of the Fed giving them zero cost...
As Karl Denninger pointed out last week (Ron Paul Is Now Out Of Excuses), "with a subcommittee chair seat, [Ron Paul]'s got a bully pulpit and, assuming the committee chair accedes, subpoena power."
This is no ordinary bank: The ATMs are in Latin. Priests use a private entrance. A life-size portrait of Pope Benedict XVI hangs on the wall.
The demand for Federal Reserve transparency is growing, whether the political and financial establishment likes it or not. The Fed is losing its vaunted status as an institution that somehow is above politics and public scrutiny. Fed transparency w
In this interview Yves Smith covers housing, the millions of foreclosures in the pipeline, and the matter of bank solvency. This interview took place on Canadian TV, and unfortunately it will never occur here in Amerika.
Ben Bernanke is a juggler. He juggles digits. He juggles them in secret. He does this act behind closed doors. In public, he is always dressed in a business suit. Business suits convey a message: "official in charge."
The BABs story has gone political. And now the Fed is tossing information into the hopper that just does not pass the smell test.
Congressman Ron Paul - future Chairman of the Sub-Committee on Domestic Monetary policy was on Fox Business this morning (video).
Americans outsmart themselves with fancy security measures to the point where their money is committing suicide on the press. (Ben Berneke on 60 Minutes)
There's something particularly delicious when a politician has to start cashing the checks they've been writing with their mouth for more than a decade.
To quote Williamss, who actually keeps track of the US economy as if it were a GAAP audited corporation: "The annual deficit is running $4-5 trillion a year , that includes the Y/Y change in the NPV of unfunded liabilities...
A majority of Americans are dissatisfied with the nation’s independent central bank, saying the U.S. Federal Reserve should either be brought under tighter political control or abolished outright, a poll shows. The Bloomberg National Poll underli
US Treasuries suffered their biggest two-day sell-off since the collapse of Lehman Brothers, following a torrid month that has seen borrowing costs for western governments soar.
Publisher of FreedomsPhoenix, Ernest Hancock, and Creator of RTR.org, Gary Franchi are combining their platforms to change the world... Because They Can :)
If you thought that stimulus packages from the Fed would actually go into the U.S. economy, you were greatly mistaken. The largest recipients of bailout dollars from the Federal Reserve were foreign banks.
The Global Banking Cartel has now been so blatantly exposed, you cannot possibly get away with pretending that we live in a nation of law based on the Constitution. The jig is up.
"Mr. Bernanke has been wrong every time he's opened his mouth," he said. "I'm terrified everytime he speaks."
#3 (February 15, 2006) "Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."
Supposedly, it is under quarantine because it is flawed;...the new security features are so hard to manufacture, even the mint is goofing it up. But they say it will all be ready to circulate in a year.
The latest quarterly reports from the big Wall Street banks revealed a startling fact: None of the big four banks had a single day in the quarter in which they lost money trading.
Ben regales more lies in fifteen minutes of fawning, sycophanting and frankly humiliating "journalism" than perhaps has been done since Obama was last interviewed. http://www.cbsnews.com/video/watch/?id=7120553n
The Fed released detailed data on more than 21,000 loans worth trillions of dollars made through a dozen emergency programs created during the financial crisis.
"For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places." Eph 6:12
This is an unofficial list of Problem Banks compiled only from public sources.
Nassim Taleb tries to explain ethics and economics to the clueless cheerleaders on CNBC.