The secret Federal Reserve again answers to no one.

[Jesse Livermore]

Another of the many reasons why I loathe the Federal Reserve and why it must go. They answer to no one and wield enormous power like this. The arrogance of this organization is outrageous. This system is set up solely to benefit a few very rich powerful men who control the whole central banking system. Ask yourself this question .... "When the constitution was set up with all the checks and balances does the federal reserve system have anything in common with those concepts ?" This system answers to no one within our representative republic. They go testify before congress once in awhile, but congress can do nothing but ask some questions of this body. Alan Greenspan should be answering to the tax payer for his incompetence in flooding the markets with money and driving interest rates to zero causing the bubble and subsequent crash in the markets.


Fed Said to Order Banks to Stay Mum on ?Stress Test? Results

By Bradley Keoun and Scott Lanman


April 10 (Bloomberg) -- The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of ?stress tests? that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don?t leak during earnings conference calls scheduled for this month. Such a scenario might push stock prices lower for banks perceived as weak and interfere with the government?s plan to release the results in an orderly fashion later this month.
?If you allow banks to talk about it, people are just going to assume that the ones that don?t comment about it failed,? said Paul Miller, an analyst at FBR Capital Markets in Arlington, Virginia.
Regulators are using the tests to determine whether the 19 biggest banks have enough capital to cover loan losses during the next two years if the economy shrinks, unemployment surges and housing prices keep declining. The tests are a linchpin of the plan Treasury Secretary Timothy Geithner announced in February to bolster confidence in the nation?s banks and restore financial-market stability.
Geithner has likened the stress tests to those used by doctors to evaluate a patient?s health. They?re designed to mesh with the administration?s effort to remove distressed mortgage assets from banks? balance sheets. The Fed is overseeing the administration of the tests, people briefed on the matter say.
Progress Report
President Barack Obama is scheduled to get a progress report on the tests today during a meeting with his economic team. Geithner will attend, along with Federal Reserve Chairman Ben S. Bernanke and Sheila Bair, chairman of the Federal Deposit Insurance Corp.
Goldman Sachs plans to report first-quarter earnings April 14, followed by JPMorgan Chase & Co. on April 16. Citigroup reports April 17, and Morgan Stanley announces April 21. All four banks are based in New York.
Spokesman for the banks declined to comment.
?No matter what the result, the stress tests are going to move markets,? Camden Fine, president of the Independent Community Bankers of America, said in an interview yesterday. ?That?s the tricky part. If they don?t give out enough information or the information is presented in the wrong way, that could cause markets to plunge.?
Silent on ?Process?
Banks should stay silent because a focus on the tests would be ?a harmful distraction? from earnings, said Scott Talbott, senior vice president for government affairs at the Financial Services Roundtable in Washington.
?It is premature for banks to talk about the stress tests,? Talbott said yesterday. ?They aren?t finalized yet and there is no framework to evaluate the results.?
Wells Fargo & Co. Chief Financial Officer Howard Atkins declined to discuss the tests yesterday after his bank reported a record first-quarter profit that beat the most optimistic Wall Street estimates.
?We haven?t commented on regulatory matters and we won?t start now,? Atkins said in an interview. ?We don?t comment on the process.?
In a separate interview later, Wells Fargo spokeswoman Julia Tunis Bernard declined to say whether the bank had been told by regulators to keep silent. ?We don?t comment on our discussions and conversations with regulators and officials,? she said.
Under the Treasury?s plan, banks would have six months after the reviews to raise any new capital they might need. If the money isn?t obtained from private investors, the government will provide the funds from the $700 billion bank-rescue plan.
To contact the reporters on this story: Bradley Keoun in New York at bkeoun@bloomberg.net; Scott Lanman in Washington at slanman@bloomb

 

[brucefan]

Re: The secret Federal Reserve again answers to no one.

<!-- Begin .post -->END THE FED - Ron Paul's New Book!

Pre-order today!​

:thumbsup​

 

[tank]

Re: The secret Federal Reserve again answers to no one.

<!-- Begin .post -->END THE FED - Ron Paul's New Book!

Pre-order today!​

:thumbsup​

This looks like a definite read . Thanks

 

[stucco43]

Re: The secret Federal Reserve again answers to no one.

Pretty simple scam...print the usa money as private bankers...loan the money back....start buying assets...until we are in this mess...
its pretty obvious to any american whats going on?

 

[brucefan]

Re: The secret Federal Reserve again answers to no one.

Wednesday, September 2, 2009

Federal Reserve makes $1 Million Dollars for only $230, then lends it out


Now that we know the Federal Reserve is a privately owned, for-profit corporation, a natural question would be: who OWNS this company? Peter Kershaw provides the answer in "Economic Solutions" where he lists the ten primary shareholders in the Federal Reserve banking system.

1) The Rothschild Family - London 2) The Rothschild Family - Berlin 3) The Lazard Brothers - Paris 4) Israel Seiff - Italy 5) Kuhn-Loeb Company - Germany 6) The Warburgs - Amsterdam 7) The Warburgs - Hamburg 8) Lehman Brothers - New York 9) Goldman & Sachs - New York 10) The Rockefeller Family - New York

Now I don't know about you, but something is terribly wrong with this situation. Namely, don't we live in AMERICA? If so, why are seven of the top ten stockholders located in FOREIGN countries? That's 70%! To further convey how screwed-up this system is, Jim Marrs provides the following data in his phenomenal book, "Rule By Secrecy." He says that the Federal Reserve Bank of New York, which undeniably controls the other eleven Federal Reserve branches, is essentially controlled by two financial institutions:

1) Chase-Manhattan (controlled by the Rockefellers) - 6,389,445 shares - 32.3%
2) Citbank - 4,051,851 shares - 20.5%

Thus, these two entities control nearly 53% of the New York Federal Reserve Bank. Doesn't that boggle your mind? Now, considering how many trillions of dollars are involved here, and how the bankers are WAY above our "selected" officials in Washington, D.C., do you think the above-listed banks and families have an inordinate amount of say-so in how our country is being run? The answer is blindingly apparent.

Where does the money come from?

We all know that the Federal Reserve CORPORATION prints money - then loans it, at interest, to our government. But wait until you see what a total scam this process is. But before we get to the meat of this issue, let's remember one thing about the very essence of <INPUT type=hidden name=IL_MARKER>banking - primarily that money should have some type of standard upon which its value is based. In the case of America, we operate on what is called a "gold standard" (i.e. our money is backed by gold).

So, with that in mind, let's look at how money is actually created, and at what cost. If the Federal Reserve wants to print 1,000 one-hundred ($100) bills, their total cost for ink, paper, plates, labor, etc. would be approximately $23.00 (according to Davvy Kidd in "Why A Bankrupt America"). Now, if you do the math, the total cost of 10,000 bills would be $230.00 ($.023 x 10,000). But, and here's the catch - 10,000 $100 bills equals $1,000,000! So, the Federal Reserve can "create" a million dollars, then LEND it to the U.S. Government (with interest) for a total cost of $230.00! That's not a bad deal, huh!
LINK

 

[the glue]

Re: The secret Federal Reserve again answers to no one.

God I hate bankers....END THE FED......2348ji23e

 

[tank]

Re: The secret Federal Reserve again answers to no one.

And while everyone keeps blaming the other party the Fed just keeps on rolling.Distractions are always good for some people.

 

[brucefan]

Re: The secret Federal Reserve again answers to no one.

Bernanke Gone Berserk! Bank Reserves Explode!




Martin here with the most shocking new numbers I?ve seen in my lifetime.
My conclusion: Fed Chairman Bernanke has dumped so much funny <NOBR id=itxt_nobr_1_0 style="FONT-WEIGHT: normal; FONT-SIZE: 100%; COLOR: blue">money</NOBR> into the U.S. banking system and has done so little to manage how that money is used, the fate of our entire economy has now been cast under a dark shadow of doubt.
This is not conjecture or exaggeration.
Nor are the underlying facts subject to debate.
They are blatant, unambiguous, and fully supported by the Fed?s own data ?
Fact #1. Up until the day Lehman Brothers collapsed in September of last year, it took the Fed a total 5,012 days ? 13 years and 8 months ? to double the cash currency and reserves in the coffers of U.S. banks.

In contrast, after the Lehman Brothers collapse, it took Bernanke?s Fed only 112 days to double the size of U.S. <NOBR id=itxt_nobr_6_0 style="FONT-WEIGHT: normal; FONT-SIZE: 100%; COLOR: blue">bank</NOBR> reserves. He accelerated the pace of bank reserve expansion by a factor of 45 to 1. (Click here for the proof.)
Imagine a crowded interstate highway with a speed limit of 55 miles per hour and with a long tradition of allowing no one to exceed the limit by more than 20 or 25 mph.
Suddenly, a new driver appears on the scene with a jet-powered engine that accelerates to a supersonic speed of 1,350 mph.
That?s the same magnitude of change Fed Chairman Bernanke has presided over.

Fact #2. Even in the most extreme circumstances of recent history, the Fed never pumped in anything close to this much money in such a short period of time. Indeed ?

• <LI itxtvisited="1">Before the turn of the millennium, the Fed scrambled to provide liquidity to U.S. banks to ward off a feared Y2K catastrophe, bumping up bank reserves from $557 billion on October 6, 1999 to $630 billion by January 12, 2000. And at the time, that was considered unprecedented ? a $73 billion increase in just three months. In contrast, Mr. Bernanke?s recent money infusion is $1.007 trillion or 14 times more!
• Similarly, in the days following the terrorist attacks on the World Trade Center and the Pentagon, the Fed rushed to flood the banks with liquid funds, adding $40 billion in the 14-day period between 9/5/01 and 9/19/01. Mr. Bernanke?s recent trillion-dollar flood of money is twenty five times larger.

Fact #3. After the Y2K and 9-11 crises had passed, the Fed promptly reversed its money infusions and sopped up the extra liquidity in the banking system. But this time, Mr. Bernanke has done precisely the opposite: Since he doubled the currency and reserves at the nation?s banks with his 112-day money-printing frenzy in late 2008, he has thrown still more money into the pot.
Fact #4. With no past historical precedent, no testing, and no clue regarding the likely financial fallout, Mr. Bernanke has invented and deployed more weapons of mass monetary expansion than all prior Fed chairmen combined.
The list itself boggles the imagination: Term Discount Window Program, Term Auction Facility, Primary Dealer Credit Facility, Transitional Credit Extensions, Term Securities Lending Facility, ABCP Money Market Fund Liquidity Facility, Commercial Paper Funding Facility, Money Market Investing Funding Facility, Term Asset-Backed Securities Loan Facility, and Term Securities Lending Facility Options Program.
None of these existed earlier. All are new experiments devised in response to the debt crisis.
Fact #5. The single biggest new facility is the Fed?s purchases of mortgage-backed securities (MBS). This massive operation began on January 7 of this year with only $10.2 billion. Now, just nine months later, the Fed has bought up a cumulative total of $924.9 billion, the largest money infusion by any central bank into any single market sector of all time.
Simply put, the Fed has been buying up virtually all the junk and nonjunk mortgages it can lay its hands on.


http://jutiagroup.com/2009/10/19/bernanke-gone-berserk-bank-reserves-explode/

 

[IDENTITY]

Re: The secret Federal Reserve again answers to no one.

Bernanke Gone Berserk! Bank Reserves Explode!




Martin here with the most shocking new numbers I?ve seen in my lifetime.
My conclusion: Fed Chairman Bernanke has dumped so much funny <NOBR id=itxt_nobr_1_0 style="FONT-WEIGHT: normal; FONT-SIZE: 100%; COLOR: blue">money</NOBR> into the U.S. banking system and has done so little to manage how that money is used, the fate of our entire economy has now been cast under a dark shadow of doubt.
This is not conjecture or exaggeration.
Nor are the underlying facts subject to debate.
They are blatant, unambiguous, and fully supported by the Fed?s own data ?
Fact #1. Up until the day Lehman Brothers collapsed in September of last year, it took the Fed a total 5,012 days ? 13 years and 8 months ? to double the cash currency and reserves in the coffers of U.S. banks.

In contrast, after the Lehman Brothers collapse, it took Bernanke?s Fed only 112 days to double the size of U.S. <NOBR id=itxt_nobr_6_0 style="FONT-WEIGHT: normal; FONT-SIZE: 100%; COLOR: blue">bank</NOBR> reserves. He accelerated the pace of bank reserve expansion by a factor of 45 to 1. (Click here for the proof.)
Imagine a crowded interstate highway with a speed limit of 55 miles per hour and with a long tradition of allowing no one to exceed the limit by more than 20 or 25 mph.
Suddenly, a new driver appears on the scene with a jet-powered engine that accelerates to a supersonic speed of 1,350 mph.
That?s the same magnitude of change Fed Chairman Bernanke has presided over.


Fact #2. Even in the most extreme circumstances of recent history, the Fed never pumped in anything close to this much money in such a short period of time. Indeed ?

• <LI itxtvisited="1">Before the turn of the millennium, the Fed scrambled to provide liquidity to U.S. banks to ward off a feared Y2K catastrophe, bumping up bank reserves from $557 billion on October 6, 1999 to $630 billion by January 12, 2000. And at the time, that was considered unprecedented ? a $73 billion increase in just three months. In contrast, Mr. Bernanke?s recent money infusion is $1.007 trillion or 14 times more!
• Similarly, in the days following the terrorist attacks on the World Trade Center and the Pentagon, the Fed rushed to flood the banks with liquid funds, adding $40 billion in the 14-day period between 9/5/01 and 9/19/01. Mr. Bernanke?s recent trillion-dollar flood of money is twenty five times larger.

Fact #3. After the Y2K and 9-11 crises had passed, the Fed promptly reversed its money infusions and sopped up the extra liquidity in the banking system. But this time, Mr. Bernanke has done precisely the opposite: Since he doubled the currency and reserves at the nation?s banks with his 112-day money-printing frenzy in late 2008, he has thrown still more money into the pot.
Fact #4. With no past historical precedent, no testing, and no clue regarding the likely financial fallout, Mr. Bernanke has invented and deployed more weapons of mass monetary expansion than all prior Fed chairmen combined.
The list itself boggles the imagination: Term Discount Window Program, Term Auction Facility, Primary Dealer Credit Facility, Transitional Credit Extensions, Term Securities Lending Facility, ABCP Money Market Fund Liquidity Facility, Commercial Paper Funding Facility, Money Market Investing Funding Facility, Term Asset-Backed Securities Loan Facility, and Term Securities Lending Facility Options Program.
None of these existed earlier. All are new experiments devised in response to the debt crisis.
Fact #5. The single biggest new facility is the Fed?s purchases of mortgage-backed securities (MBS). This massive operation began on January 7 of this year with only $10.2 billion. Now, just nine months later, the Fed has bought up a cumulative total of $924.9 billion, the largest money infusion by any central bank into any single market sector of all time.
Simply put, the Fed has been buying up virtually all the junk and nonjunk mortgages it can lay its hands on.


http://jutiagroup.com/2009/10/19/bernanke-gone-berserk-bank-reserves-explode/

<crickets>

 

[Valuist]

Old thread but it rings true. Check out leverage levels:

Long Term Capital, before their implosion: 105-1
Lehman Brothers 45-1

Federal Reserve? 148-1