Thomas M. Hoenig, the Vice Chairman of the Federal Deposit Insurance Corp, wrote an editorial today in the Washington Post complaining it is unfair that the huge too-big-to-fail banks have less scrutiny by investors because they receive government deposit insurance guarantees, borrow from the Federal Reserve at virtually no cost and have gained public confidence [...]
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Federal Reserve documents, recently declassified under Freedom of Information Act subpoenas have demonstrated that virtually 100% of $600 billion in new paper money distributed by the Fed in their QE2 stimulus scheme appears to have gone to European banks. QE2 may have done nothing to create jobs here at home; but the flood of the Fed’s U.S. cash [...]
READ MORE »Chinese Proverb: When dancing with a scorpion, safety is in holding the tail firmly. The U.S. Federal Reserve declared a Trade War last fall by flooding the world with newly printed paper money in a scheme to hammer China with inflation and force the nation to commit economic suicide by raising the exchange rate of [...]
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It was sad to watch Federal Reserve Chairman Ben Bernanke being forced to hold a political press conference for the first time in the Fed’s 102 year history. Bernanke nervously defended the merit of the Fed subsidizing $3 trillion in Congressional deficit spending and $2 trillion in Wall Street bail-outs; but he looked tired and [...]
READ MORE »The U.S. Federal Reserve’s second round of Quantitative Easing stimulus, QE II, has caused vicious un-intended consequences around the world. The 42% rise in the CRB index of food prices has already caused starvation for millions of people, burned down the Middle East, and is increasingly creating havoc in Asia. But QE 2′s most venomous [...]
READ MORE »The Federal Reserve’s QE2 stimulus has stoked a fire storm of global of inflation. What began in the Middle East and North Africa as a rebellion against rising food and basic essentials for some of the poorest people on earth has now spread to supposed success stories, like China. Over the weekend, rioting broke out [...]
READ MORE »Ten years from now university economists will analyze Federal Reserve Chairman Ben Bernanke’s recent presentation to the U.S. Senate Budget Committee as the successful turning point in American economic policy from a focus on demand side consumption spending to supply side production investment. As Bernanke clearly stated: “We need to think about making investments for [...]
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