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Radio/TV • Declare Your Independence with Ernest Hancock
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Declare Your Independence with Ernest Hancock Morning February 24th 2010

After the Lehman bankruptcy, Congress' amendment to the Federal Reserve Act gave the Fed the authority to pay interest on excess reserves (the Fed creates its own $ machine... AGAIN. Ernest does his best to explain this... Breaking News

Hour 1 - 3

Wednesday, February 24th 2010
 
Through the Emergency Stabilization Act of 2009, passed shortly after the Lehman bankruptcy, Congress accelerated the effective date to October 1, 2008 of an amendment to the Federal Reserve Act that would give the Fed the authority to pay interest on excess reserves. 
 
Ernest does his best to explain this so we all can understand what is about to happen (Breaking news today)



News Link  • 
Economy - Economics USA
Fed/Treasury Covert Tightening Alert: $200 Billion in liquidity to be withdrawn over next 8 weeks (S
02-24-2010  •  Google Search 
On the heels of the surprise discount window rate hike late last week, and on the eve of Bernanke’s Congressional testimony, speculation abounds as to the when and where of the next round of tightening. We need look no further than the US Treasury p 

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