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The banksters and Fed are of course gobsmacked by what happened asying, who could have predicted it? 3 big reasons the Fed got it wrong Misunderstanding of the housing boom A lack of analysis of the rapid growth of new forms of mortgage finance Insufficient weight given to the powerful adverse feedback loops between [...] This was done specifically as a protest against Federal Reserve policy. Further, sales of bullion are now exempt from state capital gains tax in Utah. At least eleven other states are considering similar laws. This is a populist revolt, no question about it. Will the Feds try to stop it? We shall see. [...] “Panic dollar selling is setting in,” Gartman, a hedge fund manager and author of “The Gartman Letter,” wrote in his daily commentary. “This may carry farther than any of us dream of or, worse, have nightmares of.” The dollar is cratering, and the deliberate policies of the Fed and Obama are a major reason. The [...] Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs. Taibbi has a new article about the shadow budget whereby the Fed shovels billions to the already wealthy with no oversight or apparent ethics. It’s welfare for the parasitical rich, who take much and [...] Thomas Hoenig, President Federal Reserve of Kansas City, in an extraordinary speech says the big banks must be broken up and essentially implies the system itself is broken and corrupt. While this is something any reader of this blog probably agrees with, having it come from a Fed president indicates a palace revolt is [...] Food inflation is caused by quantitative easing by the Fed and unchecked agricultural speculation as well as by crop failures. People do tend to get cranky when food prices soar. Especially when they have little money to begin with. Rising food prices contribute to popular uprisings in Egypt, Tunisia, Yemen. Food inflation in South East [...] [Ron Paul will be] Ben Bernanke’s direct nemesis during any and all future Congressional spectacles starring the printing unchallenged one. And with US debt creeping ever closer to the debt ceiling, coupled with the dollar for dollar monetization of the US deficit, such spectacles will soon be plenty. And he may well subpoena the [...] Helicopter Ben now only gives to the already rich Schwab’s op-ed in the WSJ is phrased more diplomatically than that. Let Business Insider translate. It’s time for the Fed to stop screwing savers and bailing out banks and borrowers with 0% rates The Fed policy of near-zero percent interest rates is ostensibly supposed to [...] The Senate just voted, 96-0, to audit the Federal Reserve. Soon, we will know what the Federal Reserve did with the trillions of dollars that it handed out during the financial crisis. A few months ago, such a vote would have been unthinkable. One senior Treasury official claimed he would fight to stop an audit [...] (The biggest April Fool’s joke of the day may be that played by the Federal Reserve on the banks and the housing market — terminating the MBS purchase program just before the $8,000 first time buyer’s credit is set to expire. Only, it’s not a joke. A white paper by The Association of Mortgage Investors, [...] |  | ||||
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