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When Will Tim Geithner, Who Has The "Biggest Conflict Of Interest", Recuse Himself Of Fed Audit Deliberations?
Alan Grayson storms back to the stage by asking just why is Tim Geithner, who has the biggest conflict of interest when it comes to Fed matters, even be allowed to have an opinion on Fed transparency issues. In today's ABC Top Line, Alan noted, “when Tim Geithner says that he doesn't want to see the Fed audited, what he's really saying is he doesn't want to see Tim Geithner audited,” Grayson said. “He was the head of the New York Fed for years and years. This audit would apply to him. And the actions he took -- which he can now take in secret and, when this bill passes, will no longer be secret -- we'll be able to see and understand the decisions that he made that among other things put huge amounts of bailout money into the hands of private interests.” Grayson added: “It's one of the biggest conflicts of interest I've ever seen.” Keep in mind that this is the same Fed that when it took over Bear via ML1 said it would have no losses on the collateral it assumed, only to see its Red Roof Inn holdings be foreclosed upon last week as Zero Hedge first discussed. How the Fed's opacity is still a topic of discussion simply does not compute. And that Obama is doing all he can to prevent the Fed transparency initiatives by Paul and Grayson from passing at this point certainly means that should the Fed's dirty laundry be made public that the administration would certainly collapse in a smoldering heap of 0% approval.
Some more painful common sense from Grayson:
“The Fed doesn't want to be audited. Who does? Do you want to be audited? I don't want to be audited, but sometimes it's necessary,” he said. “When you're handing out a trillion dollars at a time -- a trillion dollars at a time, which works out to $3,000 for every man woman and child in this country -- don't we have a right to know what happened to it?”
Grayson added: “It's central to the bill. We've had secret bailouts from the Fed to private interests now for the past two years without any exposure whatsoever. … We need to know what happened to our money, because when the Fed hands out our money, every dollar in your pocket, every dollar in your checking account, every dollar in your 401(k) becomes that much cheaper and less in value.”
In retrospect it is really much simpler: the Fed will only retain its secrecy as long as it can keep pushing the market higher, and as long as it can force the middle class to empty out their money markets and throw their money into bankrupt retailers trading at one million P/E. Once the market tumbles, it is game over. The Fed knows it, the president knows it, and Geithner certainly knows it. Which is why we expect massive resistance by the Fed and all the "liquidty providers" and "market makers" to allowing the Ponzi formerly known as the market, to reach its true fair value (absent from endless fiscal stimuli and ZIRP insanity)... somewhere in the 400-500 S&P range.
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Would be funny if a freshman representative single handedly brought down the Fed and the Treasury Secretary. Grayson has moxy... or a death wish...
+100
Not just funny. It would be awesome too.
One has to wonder how long it might be before the good Mr. Grayson (with Mr. Paul and Mr. Saunders right behind him) happens to suffer an unfortunate airplane or motor vehicle "accident".
Don't Just Sit There...
Sign Alan Grayson's petition here.
http://www.dailykos.com/story/2010/5/3/11317/06807
Yes, then we need to disband this group of asshat thugs and send them to prison.
Geithner is the poster child for this governments fraud. Time for jail, meat!
Get your Timmy in Jail Mugs, Tshirts, refrigerator magnets and mouspads at the Zazzle store to benefit ZH:
www.zazzle.com/Howard_Beale
All proceeds go to Zero Hedge.
Ben Bernanke and Tim Geithner must think that Alan Grayson is an asshole!
I love it! We need more assholes in congress. The fact that Mr. Grayson is a freshman congressman should reassure voters when they go to the polls in November. Folks, there is no need to hesitate from voting out all incumbents and replacing them with a brand new group of assholes.
In the meantime, godspeed, Mr. Grayson.
I wonder what the Honorable Mr. Grayson (D-FL) will have to say about Congress being exempt from insider trading laws - and refusing to reverse the exemption? How can this be? When did they pass a law to exempt themselves from insider trading restrictions? Did I hear that right? They are exempt from the laws governing the citizens of the USA?
http://www.youtube.com/watch?v=OKmpk9RObfA
Hey, that ain't just a freshman rep, that's a Bronx Science High School grad....show some respect, here!
He's got a big war chest too. And who's not conflicted in DC?
"would certainly collapse in a smoldering heap of 0% approval."
Tyler, darling they are already there. I beleive their approval rating is like ZIRP and inflation, it's negative...below 0%.
Aaron Burr. Calling Aaron Burr.
Good point. Grayson probably is connected. They all are. Wow Scull and Bones, where have you not put your big greedy hands!?
This level of corruption has not ben seen in hundreds of years, it really does bring all those studies of the Fall of Rome back to mind. These are going to be very interesting times indeed.
Is it me, or has Ron Paul fallen off the MSM?
He was seriously Fn' up their mojo.
Oh, he's been in the corporate media lately, but I think the focus of the "Audit the Fed" movement has moved on to the Senate, of which he is of course not a member, hence the interviews with Grayson and Sanders.
According to the idiot Kay Hagan the NC residents voted in to office, Geithner and Bernanke will never be audited.
April 29, 2010
Dear Friend,
Thank you for your message expressing support for the Federal Reserve Sunshine Act. I appreciate hearing your thoughts on this important issue.
The Federal Reserve Sunshine Act (S. 604 / H.R. 1207) was introduced in the Senate on March 16, 2009, and in the House of Representatives on February 26, 2009. The Senate bill was referred to the Committee on Banking, Housing, and Urban Affairs and the House bill was referred to the Committee on Financial Services. Both bills reform the manner in which the Board of Governors of the Federal Reserve System is audited by the General Accountability Office (GAO) and the manner in which such audits are reported.
Under the Federal Banking Agency Audit Act (PL 95-320), the GAO has the authority to conduct financial and performance audits of the Board of Governors, and the Federal Reserve banks and branches. However, such audits are limited, as the law stipulates that monetary policy operations, foreign transactions, and the Federal Open Market Committee operations are excluded from the scope of the GAO audits. The Federal Reserve Sunshine Act seeks to expand the GAO's authority by removing these limitations.
As the Federal Reserve Sunshine Act is currently written, I am opposed to the legislation. Under common usage of the term audit -- an examination of accounts and records -- there is already a 100 percent audit of the Federal Reserve. Furthermore, Congress already reviews semi-annual reports on monetary policy submitted by the Board of Governors as required under the Full Employment and Balanced Growth Act (PL 95-523).
When Congress passed the Federal Banking Agency Audit Act in 1978, the legislation attempted to balance the need for public accountability of the Federal Reserve with the need to insulate the Reserve's monetary policy function from political pressures. I believe this balance must be maintained going forward.
The formulation of monetary policy is a decision-making process that involves information gathering from a host of foreign governments and central banks. The information provided from those exchanges is critical and extremely sensitive. The immediate and broad disclosure that S. 604 would require could disrupt the financial markets, and jeopardize our country's international finance relationships. Ultimately, it would be taxpayers who would bear the brunt of any losses resulting from policies caused by untimely disclosure of sensitive information. Because of this, I do not believe the benefits of legislation like the Federal Reserve Sunshine Act outweigh the costs.
Again, thank you for contacting my office. It is truly an honor to represent North Carolina in the United States Senate, and I hope you will not hesitate to contact me in the future should you have any further questions or concerns.
Sincerely,
Kay R. Hagan
Please do not reply to this email. Instead, if you have further questions, please visit www.hagan.senate.gov and fill out my web form for your inquiry. Thank you.
I love they way she says "there is already a 100 percent audit of the FED in place already". WOW, if that was the case, then why do we need to audit their asses? In the end of the letter notice how she says, if they did and audit, the taxpayer would be hurt. This lady should have never been elected into office, as she is a pawn, that has no clue of what is what or where is where.
She is an imbecile
voters often get what they deserve.
....yeah. Like this Obama brand of one term transparency.
That statement comes dangerously close to an admission of guilt, and at the very least completely contradicts the prior assertion "there is already a 100 percent audit of the Federal Reserve."
How can I pass this email on to someone who will report what she is saying publicly? This response was made to me within a 6hr timeframe from the time I sent it. I never got a response that fast from any member of Congress ever. I am very troubled with what she has said and it seems to me this needs to make public somehow. But who can you send it to, that won't bury it in the dirt somewhere.
Have you considered writing you own Letter to the Editor of the largest publication in your area?
It certainly does -- I really do not see why our "Elected Representatives" do not see what is so unmistakenly clear. IF the FED had nothing to hide - why would they object so forcefully to being audited. Their Red herring argument that it would interfere with their independance and ability to conduct monetary policy is laughable. Who knows - maybe just this one time - enough Senators and Congressmen will find the stones to do the right thing. If they do -- sell the farm and short the dickens out of this Financial Fraud we call a market.
Screw her, Trigger and fuckin Toto too. I've told my "Reps" that if they vote against the audit I'll vote against them. I'm gonna vote against them anyway.
Oughta be a movement, "If they're in they're out". Very very few exceptions.
wrong Kay
has anyone created a web site displaying the names of all those opposed to auditing the fed and the "too big to fail" banks on wall street ?
If you throw out the 20% of the country saturated in Obama KoolAid then yes Sparky it is negative.
Grayson leaves me perplexed. The cynic in me is saying that he put his hands out and no one was willing to give him his price. This guy can't be for real. Can he?
Surely this is just a world class shake down?
Dirtt, Grayson is one of those guys that I love to hate, and hate to love. Freak was all for Obamacare, yet will walk the plank on audit the Fed. Boggles my mind.
Yes, I really hate these guys who fight for the right thing, the moral thing to do.
If he would just act like a "real" Democrate or Republician, then we would know which side of the river to swim to and throw rocks at the other side.
He opens his soft boiled eggs from the big end, that tells you everything you need to know.
Not a shake down, a take down. After the audit, the criminals charged & jailed, the current crop of politicians replaced, then the NEW power players get to take over, and stake out their fiefdoms. Alan Grayson has a dorsal fin that is every bit as large as those that he fighting.
At the moment he's fighting on the side of the "Good Guys" and that's a powerful weapon in his arsenal.
I've known lots of pols in my day up close and very disappointing, but Grayson's a cut above. He's a 6' 3" former Marine from the Bronx w a goodlooking family and 30M of his own in the bank. I had some face time w him recently, and like it or not, he's the real deal. They all have big egos, but Grayson knows the score and is a serious dude trying to do what he thinks right for his children's and the country's future. He also knows w plenty of FU money he'll enjoy life in or out of office.
He's in it to do right, and hopefully, is encouraging others in congress to grow some of their own.
$30m of his "own" in the bank comes from "ambulance-chasing" whistle-blowers to ferret out defense contractor fraud. OK, I guess that is noble, which elevates his status to one level above the pond-scum status reserved for lawyers who actually chase ambulances for real victims.
For every one good thing Grayson does, he does 50 stupid ones. The guy is a moron and I hope and pray he gets ousted whenever his time is up.
I'm beginning to think that most of the stupid issues wouldn't be on the table were it not for the actions of the Federal Reserve. This is the acid test as far as I'm concerned, you vote for the audit, you represent the people, the rest takes care of itself (kinda).
Hmmm, what is hard to understand here?
There's a revolving door between Goldman Sachs employment to high economic/trade/financial positions in the U.S. government and then back to Goldman Sachs. Oh, and deferred bonuses get activated automatically if a previous GS employee takes a paltry salaried government position ..., yup... makes perfect logical sense, huh?!
TPTB are masters at hiding and profiting from their conflict of interest. Year after year, decade after decade. Service to the people?! Sheer hypocrisy!
"Just when you thought that nothing could stink more than Timothy Geithner’s handling of the AIG bailout, a new report details how Geithner’s New York Fed allowed Lehman Brothers to use an accounting gimmick to hide debt. The report, which runs to 2200 pages, was released by Anton Valukas, the court-appointed examiner. It actually makes the AIG bailout look tame by comparison. It is now crystal clear why Geithner’s Treasury as well as Bernanke’s Fed refuse to allow any light to shine on the massive cover-up underway."
Here's the rest of the story: http://evans-politics.com/biggest-scandal-in-us-history-crj-blogs-beat-the-press.html
But we're all adults here, right...?
Everybody knows that the dice is loaded..., that the boat has sprung a leak..., the captain lies........., everybody knows.
(Apologies beforehand for another ship analogy..., Nah, I take that back.)
http://www.youtube.com/watch?v=zUTBESqnnkg&feature=related
I am suspicious of Grayson, but So-weeeet! for droppin' those bombs.
Agreed.
why? just curious. He made some big money on qui tam lawsuits
Because Grayson was a founder of IDT, and another fellow who happened to work there, by the name of Sergey Aleynikov -- remember him? (Hint: a programmer with a Russky name made off with some Goldman Sachs market-rigging and manipulation software, and was immediately collared by the GS private fed force known as the FBI.)
I'm not saying anything here, but for a telecomm company, to those of us who understand the economics of telecommunications, to become so profitable so fast is somewhat suspicious (and I'm not going to even mention those Russian mob connections).
IDT rocketed because their telcom services were cheap, cheap, cheap and very good. Businesses flocked to them, we did. And, the race to buy telcom stocks were the rage...remember Q West and all the rest?
I really hate it when folks mix into the notion some off-the-wall item to make a point that has no revelance except to confuse or twist the notion.
As for Alan Grayson, everybody wines "where are the white hats" and when someone comes along with one that is whitish you attack. Who the hell wants to fight for any of us when we have our guns drawn and ready to kill. YOU????
You already know that inside the FED's box of assets sits nothing of substantive value - they know you know it - but knowing and showing are two very different things. The business of finance is the art of selling people empty bags and it works as long as you don't open that bag (like FIAT money). If you think we're in for some problems now wait until everyone opens the sealed parcel in their hand. Deep in your brain there is probably some nagging concern that we're not tough enough to handle the whole truth.
Cat out of the bag. That saying came from exactly this how many centuries ago.
Every now and then the cat gets out. The biggest problem the perps face is that a) not all need to know the whole truth b) in their hyper-arrogance they forgot about the "jobs" part of the ponzi c) Americans are armed to the teeth d) all ponzis come to an end. ALL.
Good hunting folks.
Of course with so much trauma to get to 400-500, I wouldn't doubt if it went far lower. When the contagion hits, alot of companies that one would think should survive a 400-500 level, would not be able survive until/once it got there.
We need to pass Glass/steagall and force (via making all their americans based frauds worthless) Europe to do the same. Of course it's not really forcing. We do something to save us, and then Europe can decide whether or not they want to save themselves by doing the same thing. Eventually worldwide glass/steagall and wipe out all the bad debt floating around which is pretty much all of it at this point.
Maybe the reality is we have to audit the fed, before the talking heads get the info to show WHY we need a global glass/steagall. Although at this point it should be obvious to a third grader.
American credit system can allow gov't to then create the credit for loans going forward to rebuild our economy based on non-paper assets. Science, space, education, technological progress, and infrastructure. Basically the REAL economy. The one that actually lifts people up, prevents world wars, lessens suffering, and buys our species some time to advance to a technological level that is more or less sustainable.
Real sustainability, not malthusian viewpoints nor their waste of time pet projects; wind, solar, global warming. (wind and solar are LOW energy flux density....at a time where our needs are skyrocketing, and don't even cover the majority of human beings on the planet...not to mention all the manpower, capital, and resources that go into such a poor investment). Very poor ROI compared to nuclear, and even nuclear is many fold worse than fusion. Wind/solar is a boondoggle AND gas/oil is the past. That's the facts jack.
Of course private banks can still exist, they just won't be the only game in town. Thus won't be able to play their really idiotic games on a massive, worldwide, genocidal scale.
Why? Because the gov't can deem the above stated (not all inclusive) industries are necessary and provide the loans they need at the lowest level. If people miss a few payments, it won't impact them creating other money for other needed projects. Meanwhile for everyone else you can have a real nice competition between wealth of bankers pitted against the gov't...which keeps bankers more honest. If people miss payments, it won't bring the entire system down. It won't stop needed endeavours from breaking ground.
Under this system, when everything grinds to a halt, everything grinds to a halt. All things are equal under this system, and surely a crap house loan portfolio does not equal mag lev lines all around the U.S. But such equality of debt is indeed preventing everyone from providing for their populations needs, let alone address the future problems oncoming whether we fund for solutions or not.
So if the debt is worthless by a glass/steagall standards, nullify it by the many trillions and shift our focus onto actually bettering ourselves through again science, education, infrastructure, fusion energy, nuclear power as stop gap, space program, etc.
Or we can hold onto all this worthless stuff and destroy the world around us. It really is either or. To me, it would be the easiest choice of my life. Take the path that actually has a future.
so who knows what the FED is hiding? seems like someone would leak the info. I'm also surprised no one has hacked the FED's mainframe to get the data...
I agree. They brought down global warming. Why cannot the FED be hacked?
so audit the fed is coming to an end...is it now 'Hack the FED'...hmmm...
man if that data got out it would be a black swan tape bomb red pill eatin tinfoil hat party time...yet, the truth will set us free...
Got myself well stocked with party favors...
black swan costume body armor with tin-foil liner...check
duct tape...check
red pills with launcher...check
vodka cocktails...check
a box of strikeanywhere matches...check
Viva la truth party!!!
probably not connected to anything or on paper. I always laughed and said I wouldn't be surprised to wake up one day to smoke billowing out at the NY Fed.
I wonder if someone filed a FOIA asking for HOW they keep and safeguard records. We already lost way too many original files during 9-11. I hope we learned to safeguard and double up
Good Luck on the FOA thing -- I have a friend who filed a FOA request to the FED about 2 1/2 years ago -- got a letter back thanking him for his interest and stating they would need "Time" to pull the material together. He hasn't heard anything else from them.
I suspect you're very close to the truth here. If the audit movement starts showing signs of being successful, my suspicion is first the markets worldwide would be tanked. If this failed to convince congress to look the other way, your smoke billowing out of the Fed would be the next step. Blamed on the terrorists, of course.
Considering the depth of historical records and multiple locations involved, the scale of destruction necessary to keep the Fed's secrets, secret, becoming worrying.
Of course this in itself will tell us all we need to know; should the audit bill pass, the level of catastrophe necessary to hide the Fed's doings will show how bad and what scale the manipulations are.
Short of a Berlin-wall-coming down scenario, where East germans raided their own government ministries for files, I don't think we'll ever actually know how involved to the Fed has been in gaming things, as too many people with too much wealth has too much to lose, and will be more than happy to sacrifice someone else to protect themselves.
Nobody brought down global warming, dweeb, and the climate changes will continue regardless of your pea brain.
The reason the primitive systems of the Fed don't matter, is 'cause what is truly crucial happens off the books -- or haven't you yet heard of off-balance-sheet accounting???
I get jitters when I go too long without a zero hedge article. Please keep us up to date on the audit the fed and the Volcker rule actions. Anyone's rational, objective, non-cynical input on these two measures is appreciated
When it comes to the Fed you can not have rational and objective without the cynicism. We are talking about psychopaths here. You can't have a rational discussion about psychopaths and be non-cynical. The only cure for psychopathic behavior is capital punishment.
Stay with ZH Tart.
I just want news on the volker rule really more so than the audit the fed move. It seems all we here about is how congress says it will still bailout banks but ask for the money back......what if they collapse and can't give the money back.......nothing has changed much has it? Big deal though, tell me about the progress of the volker rule plz.
I'm with you Tart. Volker Rule/Glass-Steagall II is now where my hope lies. (yes, I know, I dare to hope) Size limits are for cr*p in today's world as you can financially engineer anything. F the "bailout fee"... what the hell do you change with that? It just goes to show we still care about saving the system. Take traditional banking back to utility-sized profit margins and let The Squid and the other IB's gamble (win or lose) with their own money. We have to break this monster. Oh, and Simon Johnson for Treasury Secretary. lol
QUESTION???
Hasn't the FED had enough time to destroy most of their records during all this debate? Yeah there are a few concerns that cannot go away like that half-trillion dollar Bernanke refuses to talk about.
I have no doubt they have printed zillions upon zillions of dollars, ZEROs to the moon! But cant 95% of it be covered up by destroying records?
I don't think the FED audit would do much, if the goal is to get rid of it
This falls under the "cover up being worse than the crime" category.
The one crime they didn't decriminalize yet is destruction of evidence.
Depends on what the bill specifics are..Maybe it leaves the door open to "live look In's" Kinda like NCAA march maddness...
And don't forget about all those starving seniors, and all the dead bodies piled up in the streets, and the mushroom clouds over our cities, if the Fed does indeed get audited!
Fed Audit = TEOTWAWKI!
Oh the humanity!
The horror, the horror!
LOL!
Be forewarned, you are thinking most logically here. If that becomes a habit, you'll begin to notice that the majority of the people you interact and comingle with refuse to face reality, a condition once referred to as "insane."
Then, further on down this road, you will one day experience an epiphany and realize the majority of Americans have a criminal mindset.
Then, you'll begin to get the shakes.....
A Second Front
A bipartisan pair of senators opened a second front in the fight to bring transparency to the Federal Reserve on Wednesday, introducing an amendment to the Wall Street reform bill that would require the central bank to comply with two federal court orders requiring it to disclose how trillions in taxpayer dollars have been used.
The Fed has appealed both rulings.
The amendment, cosponsored by Sens. Byron Dorgan (D-N.D.) and Charles Grassley (R-Iowa), is the second assault on the Fed. The first was launched by Sen. Bernie Sanders (I-Vt.), who is pushing an amendment that reflects audit language passed by the House.
http://www.huffingtonpost.com/2010/05/05/fed-transparency-dorgan-g_n_564...
I've thought about this for some time. If an audit will "bring us down" then we should get it over with now. Otherwise, coming down later will be more harmful.
2/3rds of this group can veto any "Consumer Agency" rule. If you thought we had a lobby problem before this, just wait till after... Banks will do whatever is needed to capture these positions.
(A) the Secretary of the Treasury, who shall serve as Chairperson of the Council;
(b) Chairman of the Board of Governors
(C) the Comptroller of the Currency;
(D) the Director of the Bureau;
(E) the Chairman of the Commission;
(F) the Chairperson of the Corporation;
(G) the Chairperson of the Commodity Futures Trading Commission;
(H) the Director of the Federal Housing Finance Agency; and
(I) an independent member appointed by the President, by and with the advice and consent of the Senate, having insurance expertise.
I Think Grayson Maybe Thinking Take A Shot in 2012
Grayson is a relatively sharp guy. He has to be sitting there thinking "These guys are the brains of the outfit?"
He is quick witted, undrstands economics and has a sharp tongue. He could shred Obummer in a debate...
Look at the Ballast Mr. Change Has Around His Neck
1. Geithner
2. Summers
3. No Wall Street reform
4. "I Like Chris Dodd" bumper sticker on his car
5. Fuck the public health care
6. "Support Max-i-pad Baucus for Senate" bumper sticker on his car
7. More new and improved warfare
8. Fuck Main st. at every turn
9. Jamie Dimon's puppet...
Grayson would have Obummer out back chain smokin' like Marla...
I agree. Look at his legal career. He put together some complicated, lengthy cases over years. He's got twice the brains as Obama, just not the pre-2008 temperment needed to be elected. Post 2008? Who knows....
I think he's legit. I talk his book whenever I get the chance.
"..relatively sharp.."
Geez, are you way behind the reality layer. Anyone who makes a pig like IDT profitable in such a short time was a financial genius, and damn good shyster to boot!
And you're not even beginning to scratch the surface of the Prez's appointments: Diana Farrell, Henry Kissinger, Eric Holder -- not so much the first Black AG as the first Black Alberto Gonsales, this Holder defended Chiquita's assassin squads who murdered labor organizers throughout South America, and wasn't he was also instrumental in the defense of the oil company mercenary and assassin squads in Nigeria as well?
Plus, Laura Tyson, Herb Allison, Gary Gensler, Mary Schapiro, Robert Hormats, Richard Holbrooke, keeping on Bush #1 and Bush #2 appointee, Robert Mueller, and SecDef Gates, the scourge of manufactured intel from the CIA days.
And the list goes on and on.....
I'm sorry but the fed is not a matter of national security! We keep calling the Greeks lazy but at least they are not sittin' around watching American Idol while they are being pillaged.
lookie here. interesting
http://www.businessweek.com/news/2010-04-21/u-s-antitrust-division-seeks-to-intervene-in-muni-bond-suit.html
Mr. President, this is a big FUCKING deal!
Not to be too negative but the rah rah for Grayson and Ron Paul are great, but these 2 are such lone voices. Read your history. There were always people like this not in the mainstream and considered crackpots. None of them has ever really made something material happen. Remember the crackpots who were after Andrew Mellon? Didn't amount to anything but his resignation and exile to the UK (ambassador). Until the people are materially harmed (financially) by the ongoing debt deflation I see nothing that would stop the group (Fed, Treasury, White House, Wall St.) that props things up every day. After all, they have a hell of a lot more money than you and I do.
Not so lone --- Ron Paul alone received over 300 co-sponsors to his House bill to audit the Fed, and over 30 senators even before the latest reintroduction of the bill into the Senate by Grayson and Saunders. The political momentum is on our side!
Historically, you are exactly on point.
We will require a considerably larger number in politics, or large, frenzied crowds chasing those other pols with torches and scythes...
When will Tim Geithner recuse himself? Why when granted immunity of course.
Maybe Fox News can send Geraldo Rivera down to the Fed's vault. Geraldo has a history for finding nothing when he goes into vaults. I am sure the Fed would agree to this.
"Rather, I would like to know what favors Bernanke has provided to Timmy Geithner’s buddies on Wall Street. So far everything we have found out about what Geithner did when he was at the NY Fed stinks to high heavens. It sure looks like scandal and fraud of historic proportions. I expect that we are living through what will long be considered to be the worst scandal in human history."
http://www.mmnews.de/english-news/5463-truths-and-myths-of-the-federal-r...
The proprietary indicators I use can identify trend changes before they occur and they have been warning of a USD rally since last year.
Just posted a new EURUSD chart: showing long term trendline with important support around 1.2770
http://www.zerohedge.com/forum/latest-market-outlook-0