According to newly released documents, Wall Street banks earned billions in profits from the $7.7 trillion they received in secret Fed loans made during the financial crisis.
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From the category archives:
The Federal Reserve Fraud
The bogus “economic recovery” that the current administration, the U.S. Treasury, and the Federal Reserve have been touting for the last 18 months is now, according to Fed Chief, Ben Bernanke, “close to faltering.” Who didn’t see this coming?
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Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating because the U.S. “can always print money.”
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Editor’s Note: As FTMDaily predicted several months ago, the Federal Reserve has just announced today that it plans to launch a new round of stimulus. We have mentioned that the Fed would make the public beg for this, as stocks tumbled and the economic conditions worsened. However, it doesn’t seem like the Fed is shy about their plans anymore. The announcement is even earlier in the year than we expected. However, the announcement is not a shock to all of us here at FTMDaily. Expect more to come as the Fed lays out its plans to “boost” the economy. More about QE3 and gold-silver pricing…
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Editor's Note: QE2 ends today. The question on everyone's mind is, "What happens now?" We believe that the Federal Reserve will eventually pump more money into the system because the government will need more money to finance its overspending. But the Fed does not like the spotlight. Therefore, the money printing will come at a [...]
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We believe that the Fed is ultimately planning to print more money in the form of another round of quantitative easing. However, the Fed wants the population to feel like they desperately need it. Therefore, as a prerequisite to “QE3″, stocks must be decreasing and retirement accounts must be plunging. If the majority of America’s 401(k)’s are going down in value, then the Fed would be applauded for its money printing. If the financial markets are healthy, then the Fed would be demonized for its massive influx of new cash into the system and subsequently blamed for inflation.
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“None of the cash ever made it to U.S. banks…”
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Editor’s Note: If you have been listening to our weekly radio show, hosted by Jerry Robinson, you know that Jerry expected headlines like this one to precede the end of the QE2. No amount of interest rate hikes will solve our crisis now. In fact, an increase in interest rates with housing and the financial markets in their current precarious state would act as a wrecking ball to the economy. We continue to expect the mainstream media to push the Fed’s story of the end of QE2 and imminent interest rate hikes in order to drive the markets downward. Once the markets dip enough, Americans will be ready for another round of quantitative easing from the Fed. And then the real fun begins…
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Federal Reserve officials are in no hurry to respond to recent indications U.S. economic growth has hit another soft patch, despite chatter in financial markets that the Fed might start a new program of U.S. Treasury-bond purchases to boost growth.
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FTMDaily.com Founder, Jerry Robinson, was recently interviewed about the state of the U.S. economy on Iranian State Television (presstv.ir).
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Podcast: Play in new window | Download (Duration: 10:33 — 9.7MB)
Here’s a flashback from one of our FTMWeekly Financial Radio shows from June 2010. In this audio clip, Jerry Robinson shares a snippet from the popular Christian financial radio program, the Dave Ramsey Show, where Dave completely trashes gold as an investment as well as popular economist, investment advisor, and best-selling author, Peter Schiff.
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by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, Apr 4 - A new report recently released by the Federal Reserve and reviewed by Bloomberg News shows that the Federal Reserve spent some 70% of their emergency stimulus loan money bailing out foreign banks rather than banks in the United States. The Federal Reserve has a [...]
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Listen as Jerry Robinson and Barry James Dyke, the author of the Pirates of Manhattan, discuss Wall Street’s dirty little secret.
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Image via Wikipedia Following is the full text of the statement from the Federal Reserve’s Federal Open Market Committee issued on Wednesday following a two-day meeting on monetary policy: “Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household [...]
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By Alen Mattich | WallStreetJournal.com August 23, 2010, 1:26 PM GMT Could the Federal Reserve’s decision to restart its quantitative easing program trigger a dollar collapse? That’s what John Hussman, a fund manager, argues in his latest weekly note to investors. And the case he makes is strong… as long as one ignores the fact [...]
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Listen as Jerry Robinson talks with F. William Engdahl about his ground-breaking new book, Gods of Money: Wall Street and the Death of the American Century. You may be surprised by Mr. Engdahl’s take on the recent Euro crisis. Click here to hear this week’s entire radio show. Enjoy the clips and have a great [...]
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Listen as Jerry Robinson talks with F. William Engdahl about his ground-breaking new book, Gods of Money: Wall Street and the Death of the American Century. You may be surprised by Mr. Engdahl’s take on the recent Euro crisis. Click here to hear this week’s entire radio show. Enjoy the clips and have a great [...]
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By Thomas DiLorenzo August 01, 2010 Issue Copyright © 2010 The American Conservative “One can say without exaggeration that inflation is an indispensable means of militarism,” Ludwig von Mises wrote. “Without it, the repercussions of war on welfare become obvious much more quickly and penetratingly; war weariness would set in much earlier.” This explains why [...]
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WALL STREET JOURNAL | By LUCA DI LEO After fending off most challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of U.S. financial rules as perhaps the pre-eminent regulator in the sector. But that could only bring it [...]
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Submitted by Tyler Durden on 07/09/2010 17:02 -0500 | Zerohedge.com As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report. After reading these it almost makes [...]
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The National Debt Clock is shown Monday, Feb. 1, 2010 in New York. President Barack Obama sent Congress a $3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit for this year [...]
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“The U.S. turned 234 years old yesterday, and yet over half of the nation’s money supply was created since Helicopter Ben took over the flight controls four years ago. No wonder gold is in a full fledged bull market . . .” -David A. Rosenberg Chief Economist & Strategist Gluskin Sheff + Associates Inc.
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(Jerry’s Comments: Here it is. The Fed is now threatening to pull out the big guns. Among the strategies on the table, to offer “exceptionally low” for an “extended period,” and a major new asset-purchase program. I have bolded important statements in the story below.) Federal Reserve weighs steps to offset slowdown in economic recovery [...]
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The huge overhaul bill ignores most big problems and dodges the rest.
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REUTERS A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value. “The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” the U.N. World Economic and [...]
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The very fabric and the seams of the financial system are coming apart. Who knows what the timetable is for the implosion of the current monetary system? We are witnessing the greatest wealth transfer in history, and the horrors of the aftermath of this tragedy will not be forgotten for decades. Keep in mind that [...]
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RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. By Ambrose Evans-Pritchard, International Business [...]
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WASHINGTON (AP) — Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year. The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had [...]
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By Paul Abelsky and Maria Levitov June 16 (Bloomberg) — Russia may add the Australian and Canadian dollars to its international reserves for the first time after fluctuations in the U.S. dollar and euro. “Adding the Australian dollar is being discussed,” Alexei Ulyukayev, the central bank’s first deputy chairman, said in an interview at an [...]
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June 8 (Reuters) – The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress. The report that was sent to lawmakers Friday night with no fanfare said the ratio of debt to the gross domestic product would rise to [...]
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Reuters | 02 Jun 2010 | 03:59 AM ET Some of the world’s richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone’s currency, government sources said. Official sources in Brazil, India, Russia, Japan and South Korea told Reuters in separate interviews [...]
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By Stephen Dinan, Washington Times The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill. Calculated down to the exact penny, the debt totaled $13,050,826,460,886.97 as [...]
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Graham Keeley, Barcelona What are the top 10 conspiracy theories? Find out at our new website, www.thetimes.co.uk Splash! Could that be the sound of Lord Mandelson hitting one of the Dolce hotel’s four pools? Or Robert Zoellick of the World Bank? Paul Volcker of the US Economic Recovery Advisory Board? Or merely the euro taking [...]
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WASHINGTON (MarketWatch) — Thomas Hoenig, the president of the Kansas City Federal Reserve bank, laid out on Thursday his proposed plan to take short-term interest rates from near-zero to 4.5%. In a speech in Bartlesville, Okla., Hoenig said the country pays a high cost for low interest rates, suggesting that the financial crisis stemmed from [...]
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