Federal Reserve

Tyler Durden's picture

Frontrunning: June 18





  • WSJ urges Fed to blow uberest of all bubbles: Memo to Fed: Let the Economy Overheat (WSJ)
  • Gunman at large after killing nine at black South Carolina church (Reuters)
  • Nine Dead in Charleston Shooting Labeled a 'Hate Crime' (BBG)
  • Hong Kong Votes Down Beijing-Backed Election Plan (WSJ)
  • Greece Has Already Cost Investors $897 Billion This Year (BBG)
  • Merkel Maintains Tough Stance on Greece as Deadline Looms (WSJ)
  • Small U.S. frackers face extinction amid drilling drought (Reuters)
  • Brian Williams to Stay at NBC, but Lester Holt Will Be Anchor (WSJ)
 
Tyler Durden's picture

Another Fed "Insider" Quits, Tells The Truth





"The Fed is allowing the [market] tail to wag the [monetary policy] dog... The Fed's credibility itself is at stake... they have backed themselves into a very tight corner... the tightest ever... The hope today is that the current era of easy monetary policy will have no deep economic ramifications. Such thinking, though, may prove to be naive... All retirees’ security is thus at risk when the massive overvaluation in fixed income and equity markets eventually rights itself."

 
Tyler Durden's picture

Financial Predators And Parasites Want To Live, Regardless Of The Cost





Reform is impossible in a system optimized for centralized power and financial predators and parasites. The predators and parasites will gorge themselves until the system collapses.
 
Tyler Durden's picture

The Fed’s Fatal Flaw: Gold And The Predictable Endgame





When and what will break the chains on gold by those seemingly omnipotent forces that so assuredly keep its price in check? In essence, the belief is (and I expect for most honest and impartial analysts this is true) that because there is potentially significant downside risk to a global monetary system built upon a currency to which gold represents the proverbial kryptonite (we’ll discuss why), there are checks in place within the system, to ensure that kryptonite doesn’t become too potent. The architects of the existing system would have been foolish not to implement checks on gold.

 
Tyler Durden's picture

"Stingy" Fed Whisperer Hisenrath Confirms Hawkish Fed Ready To Hike Rates





"The Federal Reserve signaled it was moving toward interest rate increases in the months ahead now that signs of a dip in economic activity early in the year are waning," Fed mouthpiece Jon Hilsenrath writes.

 
GoldCore's picture

“People Can No Longer Buy Retail Gold Coins”





A rumour has been making its way around the blogosphere suggesting that gold coins are not available for purchase from retail outlets across Europe. This information is misleading and incorrect.

 
Tyler Durden's picture

Frontrunning: June 17





  • Greek central bank issues 'Grexit' warning if aid talks fail (Reuters)
  • Kerry says 'patience wearing thin' on Syria's Assad (Reuters)
  • Juncker accuses Athens of misleading Greek people (FT)
  • Al Qaeda kills two Saudis accused of spying for America (Reuters)
  • Hedge-Fund Bet Hits Pensions (WSJ)
  • ‘Flash Crash’ Trader Navinder Sarao Worked With Fund Network Now Under Investigation (WSJ)
  • 'Me? Rich?' U.S. presidential hopefuls play middle-class card (Reuters)
  • You’ve Been Warned: Central Bankers Turning Less Market-Friendly (BBG)
 
Tyler Durden's picture

The Two Contending Visions Of World Government





U.S. President Barack Obama’s proposed ‘Trade’ deals are actually about whether the world is heading toward a dictatorial world government - a dictatorship by the hundred or so global super-rich who hold the controlling blocks of stock in the world’s largest international corporations - or else toward a democratic world government - which will be a global federation of free and independent states, much like the United States was at its founding, but global in extent. These are two opposite visions of world government; and Obama is clearly on the side of fascism, an international mega-corporate dictatorship... What’s at stake here is nothing less than whether the future of the United States, and perhaps even of the world, will be democracy, or else fascism.

 
Tyler Durden's picture

The Warren Buffett Economy, Part 5: Why Its Days Are Numbered





Today’s style of heavy-handed monetary central planning destroys capitalist prosperity. Real capitalism cannot thrive unless inventive and enterprenurial genius is rewarded with outsized fortunes. Warren Buffett’s $73 billion net worth, and numerous like and similar financial gambling fortunes that have arisen since 1987, are not due to genius; they are owing to adept surfing on the $50 trillion bubble that has been generated by the central bank Keynesianism of Alan Greenspan and his successors.

 
GoldCore's picture

New Gold Electronic Payments System To Protect From “National Financial Or Currency Crisis”





“But the truly game-changing aspect of this proposal … lies in the “system” part.  This would be an advanced, state-owned and operated system of electronic payments and settlements, denominated in ounces of precious metals, barred from engaging in lending, leasing, speculative or derivative transactions, and always maintaining a 100% ratio

 
Tyler Durden's picture

Bank Of America Begins 66-Day Countdown Until The "Ghost Of 1937" Returns





The last time the Fed tried to exit a period of massive balance sheet expansion coupled with ZIRP - back in 1937 - its strategy completely failed. The Fed tightening in H1’37 was followed in H2’37 by a severe recession and a 49% collapse in the Dow Jones. This is the ghost of 1937 and it is about to make a repeat appearance.

 
Sprott Money's picture

Federal Reserve: We Rob-From-The-Poor To Give-To-The-Rich





We’re not trying to steal from the Little People to give to the Top-1%. We will just do anything and everything in our power to make sure it’s “probably impossible” for anything else to happen, ever.

 
Tyler Durden's picture

Consumers Are Not Following Orders





Last week the government reported personal income and spending for April. After months of blaming non-existent consumer spending on cold weather, shockingly occurring during the Winter, the captured mainstream media pundits, Ivy League educated Wall Street economist lackeys, and Keynesian loving money printers at the Fed have run out of propaganda to explain why Americans are not spending money they don’t have. The corporate mainstream media is now visibly angry with the American people for not doing what the Ivy League propagated Keynesian academic models say they should be doing. An economy built upon the consumption of iGadgets, Cheetos, meat lovers stuffed crust pizza, and slave labor produced Chinese baubles, along with the production of enough arms to blow up the world ten times over, and the doling out of trillions to the non-productive class, is doomed to fail.

 
Tyler Durden's picture

What Comes Next, Part 2: The Looming Transformation





The serial bubbles of the 2000’s are nothing more than what was wrought of the 1920’s, in general. The monetary character of both is not coincidence, as the failures that bookend each of these ages induces the transformation: from monetary to fiscal and back to monetary again. That looks like progress and accountability, but in each it only leads to more extreme measures (relative to the last) to still achieve what Robert Owen and Karl Marx conceived more than a century and a half ago. That leads us to 2015 and what is certainly the ragged end of the eurodollar standard. The third socialist age was undone by August 2007, but that did not stop its proprietors of “eurodollar socialism” under the name “investor capitalism” from trying to rebuild and restore it to full capacity. The groundwork has already been laid, and it is exactly what you would expect given the history since 1907. There are no widespread details about a return to capitalism and sound money practices, only how to overcome the third installation of that timeless barrier thrown down in the collapse of each of the asset bubbles so far – value.

 
Tyler Durden's picture

In Dramatic Decision Judge Finds Fed Bailout Of AIG Was "Illegal", Government "Violated Federal Reserve Act"





"Starr alleges in its own right and on behalf of other AIG shareholders that the Government’s actions in acquiring control of AIG constituted a taking without just compensation and an illegal exaction, both in violation of the Fifth Amendment to the U.S. Constitution.... Having considered the entire record, the Court finds in Starr’s favor on the illegal exaction claim. As the Court noted during closing arguments, a troubling feature of this outcome is that the Government is able to avoid any damages notwithstanding its plain violations of the Federal Reserve Act. "

-  U.S. Court of Claims Judge Thomas Wheeler

 
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