Tag Archives: federal reserve

Greenspan: QE failed, the unwind will be painful, ‘buy gold’

Alan Greenspan CFR

It appears it is time for some Hillary-Clinton-esque backtracking and Liesman-esque translation of just what the former Federal Reserve Chief really meant. As The Wall Street Journal reports, the Fed chief from 1987 to 2006 says the Fed’s bond-buying program fell short of its goals, and had a lot more to add. Alan Greenspanā€™s comments to the Council on Foreign ... Read More »

113 Federal Reserve staff members earn $250,000 annually

Janet Yellen

Just in case you need anotherĀ reason to dislikeĀ the thieving Federal Reserve. FromĀ Reuters: (Reuters) ā€“ The top 113 earners among staff at the Federal Reserveā€™s Washington headquarters make an average of $246,506 per year, excluding bonuses and other benefitsĀ ā€“ more than Fed Chair Janet Yellen and nearly double the normal top government rate. Donā€™t worry Janet, once you leave, you canĀ earn ... Read More »

US and UK conducting war games for banking collapse

Money currency

Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall-out when the next big bank topples over, the two countries said on Friday. Treasury Secretary Jack Lew and the UK’s Chancellor of the Exchequer, George Osborne, on Monday will run a joint ... Read More »

Central banking is financial terrorism

Banking building

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a ... Read More »

House approves Ron Paulā€™s ā€˜Audit the Fedā€™ bill

Audit-the-Fed-Paul-Broun

Former Rep. Ron Paulā€™s push to audit theĀ Federal ReserveĀ got another boost Wednesday when the House passed the bill for the second time in three years, and by a bigger margin than before. The bill, now sponsored byĀ Rep. Paul Broun, Georgia Republican, was approved on a 333-92 vote, with all but one Republican and 106 Democrats in favor of it. Thatā€™s ... Read More »

Germany gives up on getting their gold back

German gold

Germanyā€™s plan to bring back the nationā€™s gold reserves to Frankfurt by 2020 has fizzled, and instead has for now decided to leave $635 billion of gold in US vaults. Home to the worldā€™s second largest gold reserves, worth $141 billion, Germany only keeps about one third of its gold ā€˜at homeā€™, the rest is abroad. 45 percent is in ... Read More »

Rand Paul: Audit the Fed or I will hold up nominees

Rand Paul

United States Senator Rand Paul (R-Kentucky) says he plans to hold the appointment of three new likely members of the US Federal Reserve unless colleagues in Congress hold a vote on auditing the Fed. A long-time opponent of the central bank, PaulĀ wroteĀ Senate Majority Leader Harry Reid (D-Nevada) informing him of his plans to stall the nomination process for the new ... Read More »

Fed to taper another $10 billion in QE

Janet Yellen

Janet Yellenā€™s first FOMC statement is out: Fed tapers another $10 billion/month beginning in April. Beginning in April, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $25 billion per month rather than $30 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $30 billion per ... Read More »

Ukraine’s gold reserves sent to NY Federal Reserve

Gold Ukraine

A curious story, and one which should be taken with a mine of salt, has surfaced out of theĀ pro-Russian newspaper Iskra, which reports – so far on an entirely unsubstantiated basis – that last Friday, in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to ... Read More »