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drbubb

FED UP? Truths about the US Central Bank

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FED UP? Truths about the US Central Bank

I think that many of the popular conspiracy theories about the Fed are wrong - But not all.

Isn't it time to attack this subject with sound thinking an Discernment.

THAT is what I thought as I listened to this interview on Greg Hunter's USA Watchdog show

Danielle DiMartino Booth - $250 Trillion Global Debt Will Not Be Forgiven Willingly

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Danielle's comments stimulated an active commentary on Youtube.  A majority of the comments were negative

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COAST TO COAST AM - March 09 2017 - FEDERAL RESERVE & GLOBAL WARMING

 

more that a year old, but still interesting - start at about 7 minutes

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Equities just recorded their worst week since 2011, with the S&P 500 falling 7.1 percent and the Nasdaq Composite descending into a bear market. Trump has laid a lot of the blame on the Fed, saying at one point in October that the central bank was “going loco” for raising rates.

Cashin prediction: FED MAY CUT!
CHAIRMAN ON CHOP?

Trump Discusses Firing Fed's Powell After Latest Rate Hike, Sources Say

President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate hike and months of stock-market losses, according to four people familiar with the matter.

Advisers close to Trump aren’t convinced he would move against Powell and are hoping that the president’s latest bout of anger will dissipate over the holidays, the people said on condition of anonymity. Some of Trump’s advisers have warned him that firing Powell would be a disastrous move.

Yet the president has talked privately about firing Powell many times in the past few days, said two of the people.

Any attempt by Trump to push out Powell would have potentially devastating ripple effects across financial markets, undermining investors’ confidence in the central bank’s ability to shepherd the economy without political interference. It would come as markets have plummeted in recent weeks, with the major stock indexes already down sharply for the year.

. . . Trump’s frustration with Powell has greatly intensified in recent days, said two of the people. Though Trump’s aim is to stop interest rate increases that slow economic growth, such a move could backfire by roiling already turbulent financial markets.

Even routine changes at the top of central banks create uncertainty in markets as investors try to assess how tough a new leader may be in preventing the economy from overheating and accelerating inflation. Another problem with dismissing a sitting Fed chief may be finding a replacement who wants assurance that he or she won’t succumb to the same fate as Powell.

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"We will soon be on the brink of another Depression"

"How do I know, because I can read THIS chart... But there is a way we can stop it."

United States Doesn’t Need the Fed, 2491

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Top Trump official phones bankers, will convene 'Plunge Protection Team'...
Startles Wall St. with unusual calls...

U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index .SPX on pace for its biggest percentage decline in December since the Great Depression.

“Today I convened individual calls with the CEOs of the nation’s six largest banks,” Treasury Secretary Steven Mnuchin said on Twitter shortly before financial markets were due to open in Asia.

U.S. equity index futures dropped late on Sunday as electronic trading resumed to kick off a holiday-shortened week. In early trading, the benchmark S&P 500’s e-mini futures contract ESv1 was off by about a quarter of a percent.

The Treasury said in a statement that Mnuchin talked with the chief executives of Bank of America (BAC.N), Citi (C.N), Goldman Sachs (GS.N), JP Morgan Chase (JPM.N), Morgan Stanley (MS.N) and Wells Fargo (WFC.N).

“The CEOs confirmed that they have ample liquidity available for lending,” the Treasury said.

Mnuchin “also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly,” the Treasury said.

. . . The Treasury said Mnuchin will convene a call on Monday with the president’s Working Group on Financial Markets, which includes Washington’s main stewards of the U.S. financial system and is sometimes referred to as the “Plunge Protection Team.”

The group, which was also convened in 2009 during the latter stage of the financial crisis, includes officials from the Federal Reserve as well as the Securities and Exchange Commission.

Wall Street is also closely following reports that Trump has privately discussed the possibility of firing Federal Reserve Chairman Jerome Powell. Mnuchin said on Saturday Trump told him he had “never suggested firing” Powell.

Trump has criticized the U.S. central bank for raising interest rates this year, which could further dampen economic growth. The Fed’s independence is seen as a pillar of the U.S. financial system.

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'In Money We Trust', Film About Gold Standard Based on Forbes Book, Coming Soon

Coming soon to a public television station near you is a documentary favoring the gold standard. If that seems improbable it may be from underestimating the determination of Steve Forbes. He is the author of the book “Money,” on which the film is based. The book is about how, in the words of its subtitle, the destruction of the dollar threatens the global economy and what we can do about it.

The book was first brought out in 2014. At the time, the Sun dubbed Mr. Forbes the “anti-Piketty” — that is, the best answerer of the economist Thos. Piketty, then in vogue for his complaints about inequality. Mr. Forbes’ brilliant book nailed the point that the inequality so many were complaining about had burgeoned after our government abandoned a stable, gold-based dollar.

At the time, it looked to us as if the idea of monetary reform might prosper in Congress. And it did, at least in the House (more on which in moment). It failed in the Senate. Not for lack of trying by Mr. Forbes. The significance of the new documentary is that it may restore some lift to this issue, as the film starts to make its way around the public broadcasting stations.

We certainly hope so. The genre of the t.v. documentary forces filmmakers to get to the pith. Mr. Forbes goes right to it in the title of the film, “In Money We Trust?” He and those he interviews on camera drill in on the consequences of the loss, after we delinked the dollar from gold in the 1970s, of trust in our national currency. It touched off a crisis of trust more generalized than money.

The documentary includes an illuminating interview with the former chairman of the Federal Reserve, Paul Volcker. It strikes us as newsworthy, in that Mr. Volcker comes across as much more concerned about stable, honest money than one might guess from his public reserve in the years since he was at the Fed. He ridicules a goal of 2% inflation, worrying it could creep to 3% or 4% or more.

Read more: WHAT REALLY HAPPENED | The History The US Government HOPES You Never Learn! http://www.whatreallyhappened.com/#ixzz5aegs1guv

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Trump: ‘The only problem our economy has is the Fed’

“The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders,” Trump said in a tweet Monday. “The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”

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Our Enemy, the Fed

These arguments are generally ignored. Instead, Fed supporters come back with claims of their own, which are all too familiar: “Why, before the creation of the Federal Reserve, the U.S. economy experienced terrible banking panics with devastating economic consequences. Surely we don’t want to return to that!” -- Or: “The Federal Reserve, for all its occasional faults, has stabilized the economy.” Or: “We need the Fed to help us fight the scourge of deflation.” Or: “We need the Fed to manage the economy so it neither overheats nor falls into depression.” -- Well, no, no, no, and no.

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CRITICAL Importance of Fed action... in keeping the Stock rally alive

What has caused the US stock Market to Rally? The Fed !
A Very interesting chart - Will the Fed keep easing?

(he goes on...)

Will the FED pump a la 2016? 

010619pump-450x263.jpg

I doubt it.  It's going to be very interesting to see how quickly the market loses momentum at the next tidal turn.

010819pump-450x259.gif

> source: Spiral Calendar : http://spiralcalendar.com/2019/01/in-gear/

 

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On 1/7/2019 at 11:29 PM, drbubb said:

Our Enemy, the Fed

By: PatriotRising

These arguments are generally ignored. Instead, Fed supporters come back with claims of their own, which are all too familiar: “Why, before the creation of the Federal Reserve, the U.S. economy experienced terrible banking panics with devastating economic consequences. Surely we don’t want to return to that!” -- Or: “The Federal Reserve, for all its occasional faults, has stabilized the economy.” Or: “We need the Fed to help us fight the scourge of deflation.” Or: “We need the Fed to manage the economy so it neither overheats nor falls into depression.” -- Well, no, no, no, and no.

I liked this. Made the subject fresh and interesting for a change.

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