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The Federal Reserve, under orders from Congress, plans today to identify recipients of $3.3 trillion in emergency aid the central bank provided as it fought the worst financial crisis since the Great Depression.
Tomorrow, the Fed will begrudgingly release documents that may reveal which banks would have failed without a bailout.
- The phenomenon of “monetizing the debt” is nicely captured by the combined and long-term picture of the dollar and the 10-year Treasury yield. Specifically, it looks unsustainable.
Now, despite mounting evidence of borrower mistreatment, the Federal Reserve has proposed a rule that would disable the most effective legal tool that borrowers have to fight foreclosures.
In short, what this means is that if the bank violated black-letter law in making a loan to you the change would require you to pay off the entire principal before you could assert your rights and remedies.
Bernanke's QE II policy did nothing for jobs, nothing for bank lending, nothing for the real economy and had negative benefits for small businesses. However, the Fed did ignite a rally in the stock market and corporate bonds.
An entertaining, and no holds barred fictional look at what America's post QE4 future may look like.
The remarkable confluence of recent events has brought unprecedented but very welcome attention to both U.S. monetary policy and the global political economy in general. First, Federal Reserve Board Chairman Ben Bernanke recently announced
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According to a pre-election Bloomberg poll, 60 percent of likely voters who self-identified as Tea Party members said they want to see the Federal Reserve either reined in or abolished.
As far as most of the leaders converging in Seoul for the G-20 are concerned, however, Bernanke is playing an old-fashioned game of voodoo economics, and they see the Fed's sudden move as carefully timed to undercut arguments for other G-20...
In this interview Yves Smith covers QE2 and Wall Streets reaction to it.
We're losing the race, and we're now becoming the banana republic [of] finance, printing -- the Fed, these mad men who are out of control at the Fed are printing new money equal to 100% of the debt that we're issuing each month. This will not end wel
Last week we reported on a note from Steven Englander, who predicted that central bank reserve managers would begin dumping dollars in the coming weeks, based on a key set of criteria. Today he confirms that the criteria have been met:
"For the next eight months, the nation’s central bank will be monetizing the federal debt." It gets worse: even though Fisher realizes that what he is doing is unconstitutional, he also admits that the Fed's actions are now is effectively a policy...
The dollar's position as a reserve currency is now "absurd": namely that more and more in the world are starting to look at the CNY as the new reserve currency.
Are they really simpletons, or are they just taking orders from the Financial Elites who have the most to lose when the whole sagging sandcastle finally collapses into the waves?
But there is one distinct benefit of such a policy – it alters the composition of bank balance sheets. At the end of the day it’s really just an asset swap and a transfer of risk via bond duration or bond type. The kicker here, is that if...
A noted insider bashes destructive Fed policy
The Federal Reserve is preparing to put its credibility on the line as it rarely has before by taking dramatic new action this week to try jolting the economy out of its slumber. If the efforts succeed, they could finally help bring down the stubborn
The amount of money being talked about is scary, and all this apparatchik can do is deny she has any knowledge of the money or the authority to revue the Fed's books. May 12, 2009
The Fed is stealthily floating the idea that a surge in oil prices will be for the greater good. The Fed is telegraphing that while it acknowledges that oil is about to jump to over $100, it won't be as bad as those with a functioning brain dare to..
Wow.. this is HUGE news.RON PAUL is the ranking republican for the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology. This is the Subcommittee that overseas the Federal Reserve. THIS IS A MAJOR ISSUE. The
I fully believe we’re in the endgame for the US monetary system. It may take several years for it to play out, but we’re officially “Done.” We’re either going to default on our debts or experience hyperinflation, either of which will involve the Doll
In the year 2010, "QE 2" doesn't refer to a sumptuous ocean liner, but a second, more extravagant round of "quantitative easing" — stimulus. In the past, this technique was simply called "printing money."
"I believe that banking institutions are more dangerous to our liberties than standing armies...The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs." - Thomas Jefferson
A beggar-thy-neighbor monetary policy works for small countries getting out of a hole of their own making: It doesn’t work for the world’s largest single economy with the world’s reserve currency, in the middle of a Global Depression.
Since Bernanke's comments in August, the dollar index has dropped 7%, while commodities -- which are priced in dollars -- have surged. Crude oil has jumped 14%, while gold has spiked 8%. Prices for cotton, corn, sugar, wheat...
The New York Fed has issued a survey to Primary Dealers, which asks for suggestions on the size of QE2 as well as the time over which it would be completed.
On its face, viewing the government’s official numbers, the uninformed observer would assume that inflation really is under control, and that the immediate threat, as touted by mainstream economist is deflation.
