Tag Archives | Federal Reserve

Stung by criticism, Federal Reserve will review how it supervises large banks

FederalReserveLogovia Fortune:

New review lasting “several months” will try to address concerns about “regulatory capture”.

The Federal Reserve is to launch a major review into whether it is too close to the banks it supervises, after a recent spate of criticism alleging that it is still in thrall to Wall Street’s giants.

William Dudley, who heads the New York Fed and is consequently responsible for supervising most of the country’s largest banks, will tell a Senate committee later today that a new review into its supervisory practises will look specifically at the issue of ‘regulatory capture’–the idea that a supervisor tasked with upholding the public interest ends up under the influence of the companies it is supposed to be monitoring.

According to remarks prepared in advance and published on the NY Fed’s website, Dudley will say the review is expected to last “several months”.

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Michael Lewis on the Federal Reserve and the Secret Goldman Sachs Tapes

2013 Federal Reserve Bank of New York from Maiden LaneMichael Lewis is the former Wall Streeter who wrote the bestselling books Liar’s Poker, Moneyball and Flash Boys (among others). His dissection for Bloomberg View of the Carmen Segarra tapes (listen here) recorded while she was employed by the Federal Reserve is well worth a read. For those who don’t know, the main revelation is a recording of a discussion at the Fed in which a Goldman Sachs deal is described as “legal but shady”:

…First, a bit of background — which you might get equally well from today’s broadcast as well as from this article by ProPublica. After the 2008 financial crisis, the New York Fed, now the chief U.S. bank regulator, commissioned a study of itself. This study, which the Fed also intended to keep to itself, set out to understand why the Fed hadn’t spotted the insane and destructive behavior inside the big banks, and stopped it before it got out of control.

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Berlin is Inspiring the Next Revolution: Luke Rudkowski’s speech

In this video Luke Rudkowski delivers a speech to over 5,000 Germans that come out every Monday to rally. The main focus of this new, growing and expanding movement in Germany is to end the Fed, highlight main stream media propaganda and put an end to foreign wars of aggression. The actions in Berlin have sparked solidarity actions in Santa Monica CA, Vancouver Canada and NYC.

Special Thanks to Richardo from WRC Berlin for the camera work, contact him if you want to organize in Berlin https://www.facebook.com/ricardo.hapke

Via We Are Change

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Game Changing “End The Fed” Rally Planned in Europe

In this video Luke Rudkowski talks to Lars Maehrholz during his layover in Berlin about the merger of 128 cities and 5 countries that will come together on July 19th to do a mass protest against the U.S Federal Reserve in Berlin Germany. Lars is a former skydiver that became the main organizer of the massive Monday peace vigils in Berlin. The Monday peace vigil is an autonomous fully independent movement that gained massive popularity in Berlin that is against the U.S Federal Reserve, main stream media and foreign wars of aggression.

To find out more about the event check out:
https://www.facebook.com/montagsmahnwache
https://www.facebook.com/events/1442551089333161/

Via We Are Change

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Monday Demonstrations in Germany: The Architects Of The Future


In this original short documentary by NuoVisoTv, we learn about the widely popular, organic, grassroots movement that recently rose up in Germany against the U.S Federal Reserve, Main Stream Media and U.S/NATO Wars.

This is an original short documentary made by NuoVisoTV please follow them on YouTube.

For those interested in the historic background: The German Monday Demonstrations (Montagsdemonstrationen) helped to bring down the repressive surveillance state GDR regime 25 years ago:

http://en.wikipedia.org/wiki/Monday_demonstrations_in_East_Germany

Via We Are Change

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New Mass Movement in Berlin to End U.S Federal Reserve!


In this video Luke Rudkowski talks to Pedram Shahyar of the new “vigil for peace movement” that has exploded in popularity all over Europe. It started with one person protesting against the U.S Federal Reserve, Main Stream Media and Western NATO war aggression. It has now sparked a mass movement in over 100 cities and 3 countries while spreading like wildfire all over Europe.

Via We Are Change

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The Mantra on Wall Street Is ‘Don’t Fight the Fed’, but Do You Know What the Fed Is Doing? And Where Did Belgium Get $141 Billion to Purchase U.S. Treasury Bonds?

via chycho

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The main mantra on Wall Street is ‘Don’t Fight the Fed’, implying that if monetary policy is geared towards easing – lowering of interest rates – then riskier markets are the game in town, and if monetary policy is geared towards tightening – rising interest rates – then volatile markets are to be avoided. But do we know what the Fed is up to?

I. DOW, S&P 500, QE, and Tapering

Both the DOW and S&P 500 are sitting at all-time highs. Since bottoming out in early March 2009 (DOW, S&P 500), the DOW is up approximately 150% and the S&P 500 approximately 180%. Astronomical returns no matter what period you compare this to.

It’s no secret that the only reason the markets have been soaring is because of unlimited quantitative easing [QE], i.e., stimulus, stimulus, and indefinite-stimulus – “fundamentally a regressive redistribution program that has been boosting wealth for those already engaged in the financial sector or those who already own homes, but passing little along to the rest of the economy.”

By December 2012, funds were being pumped into the markets to the tune of $85 billion a month – a last resort, desperate measure that the FOMC began so that their ‘growth’ targets could be met.

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Tanked: The Financial Crisis is Still With Us With No End In Sight. It May be Time to Give War A Chance Once Again

Seal of Federal Reserve SystemEvery month, rise or shine, the Federal Reserve Bank, an institution that most Americans believe is a branch of government, or a federally run Central Bank has one of its computers add $55 billion—that’s dollars with a B—to its ledger and balance sheet.

In actual fact, the FED, as its known is actually a private institution in government trappings,  owned by,  and run by,  the very banks it is thought to regulate.  It actually has kept the economy afloat since August 2007 when the financial crisis began (not 2008 as most media outlets have it with a printing press with an infusion of $3.4 TRILLION.

At first, the Fed’s Economics Professor turned Bank president,  Ben Bernanke was called “Heliopter Ben” in an allusion to all the money he was bombing the economy with His term ended, but the practice, now barely questioned, goes on.

And why is that? To put it simply, the financial crisis is still with us, whatever talk there is of “recovery” because of structural realities that haven’t changed.… Read the rest

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Federal Reserve President: ‘QE Was A Massive Gift Intended To Boost Wealth’

So sayeth Richard W. Fisher, President and CEO of the Federal Reserve Bank of Dallas, according to Tyler Durnden writing at Zero Hedge:

With Bernanke gone, the remaining Fed members knowing full well they will be crucified, metaphorically of course (if not literally) when it all inevitably comes crashing down, are finally at liberty with their words… and the truth is bleeding out courtesy of the president of the Dallas Fed, via Bloomberg.

FISHER SAYS QE WAS A MASSIVE GIFT INTENDED TO BOOST WEALTH
Which incidentally coincides with Bernanke’s heartfelt “admission” that “my natural inclinations, even if it weren’t for the legal mandate, would be to try to help the average person.” As long as helped to boost the wealth of the non-average billionaire., all is forgiven. “The result was there are still many people after the crisis who still feel that it was unfair that some companies got helped and small banks and small business and average families didn’t get direct help,” Bernanke said.

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