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Keyword: federalreserve

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  • Hatred of Feds, Calls for Revolution Motives of Man rrested in Foiled Oklahoma City Bomb Plot

    08/16/2017 9:58:44 PM PDT · by nickcarraway · 8 replies
    KFOR ^ | BILL MISTON | AUGUST 15, 2017
    ‘Out for blood’: Hatred of federal government, calls for revolution alleged motives of man arrested in foiled Oklahoma City bomb plotA hatred of the federal government and calls for a revolution are just some of the alleged motives behind an Oklahoma man's attempted plot to blow up a downtown Oklahoma City building, patterned after the deadly 1995 Oklahoma City federal building bombing. Jerry Drake Varnell, 23, of Sayre, Okla. was arrested early Saturday morning after a van, laden with 1,000 pounds of what he believed to be ammonium nitrate and fuel oil, failed to detonate outside the BancFirst National Building...
  • The Fed Has 6,200 Tons of Gold in a Manhattan Basement—Or Does It?

    08/10/2017 2:34:18 PM PDT · by Red Badger · 42 replies
    www.wsj.com ^ | Aug. 10, 2017 12:30 p.m. ET | By Katy Burne
    Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold. Or doesn’t. The Fed tells visitors its basement vault holds the world’s biggest official gold stash and values it at $240 billion to $260 billion. But “no one at all can be sure the gold is really there except Fed employees with access,” said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has “never in its history provided any proof.” Mr. Manly is among gold...
  • If You Use Netflix, This is Why You Need to Thank Janet Yellen

    07/18/2017 10:55:20 AM PDT · by PPSman · 13 replies
    There is an incredible number of nouveau high tech firms that are experiencing huge losses. Uber lost $2.8 billion last year. The firms are able to sustain these losses because of the remarkable Federal Reserve money printing. If the Fed wasn't printing money the way they are now, there is no way the funds would be available to support these losses. Here's a look at the money the Fed has pumped into the system since the 2008 financial crisis:
  • Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'

    06/27/2017 11:22:33 AM PDT · by HokieMom · 65 replies
    CNBC ^ | 6/27/17 | Jeff Cox
    Fed Chair Janet Yellen said Tuesday that banks are "very much stronger" and another financial crisis is unlikely anytime soon. Speaking during an exchange in London with British Academy President Lord Nicholas Stern, the central bank chief said the Fed has learned lessons from the financial crisis and has brought stability to the banking system. Banks last week passed the first round of the Fed's stress tests to see how they would perform under adverse conditions like a 10 percent unemployment rate and turbulence in commercial real estate and corporate debt. "I think the public can see the capital positions...
  • Sen. Elizabeth Warren calls for removal of 12 Wells Fargo board members

    06/19/2017 7:28:33 PM PDT · by Tolerance Sucks Rocks · 50 replies
    CNBC ^ | June 19, 2017 | Jeff Cox
    Sen. Elizabeth Warren is calling for the ouster of 12 board members at Wells Fargo due to the fake accounts scandal that has rocked the bank. In a letter sent Monday to Federal Reserve Chair Janet Yellen, the Massachusetts Democrat said the scandal has "revealed severe problems with the bank's risk management practices." Warren said the central bank has the authority under federal statute to remove the members who were on the board as the matter transpired. "We have received the letter and plan to respond," a Fed spokesman told CNBC. In an agreement with multiple authorities last September, Wells...
  • Trump set to make first moves at completely revamping the Federal Reserve

    06/06/2017 6:35:05 PM PDT · by Tolerance Sucks Rocks · 85 replies
    CNBC ^ | June 5, 2017 | Jeff Cox
    President Donald Trump appears ready to remake the Federal Reserve in an image that will be considerably different than what investors have known for many years. The president is prepared to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank, according to multiple press accounts that have not been disputed by the administration. Quarles likely would assume the role vacated by Daniel Tarullo to oversee the nation's banking system. White House officials did not respond to a CNBC request for comment. Should Trump nominate the two men and they receive confirmation, it will represent...
  • Fed fines Deutsche Bank $41M over money laundering controls

    05/30/2017 10:10:51 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | May 30, 2017 7:53 PM EDT | Marcy Gordon
    The Federal Reserve has fined Germany’s largest bank $41 million for failure to maintain controls against money laundering in its U.S. operations. The U.S. regulators announced the penalty against Deutsche Bank on Tuesday, citing “unsafe and unsound practices.” The global bank also agreed to an order requiring it to improve oversight by senior management in complying with anti-money-laundering laws in the U.S. operations. The action follows $629 million in penalties levied against Deutsche Bank in January by New York state and British regulators for lapses in controls that allowed wealthy Russians to allegedly launder about $10 billion in illicit funds...
  • [N.Korea]Kim Jong Un may be behind biggest bank heist in history

    03/22/2017 11:02:38 PM PDT · by TigerLikesRooster · 13 replies
    NY Post ^ | March 22, 2017 | Kevin Dugan
    Kim Jong Un may be behind biggest bank heist in history he man behind the biggest bank heist in history may have been Kim Jong-un. Federal prosecutors are preparing to finger North Korea for orchestrating the theft of $81 million from the Bangladesh central bank’s account at the Federal Reserve Bank of New York last year, according to a report.
  • If We Had Our way: New Year's Resolutions for the New Congress

    01/02/2017 1:41:53 PM PST · by VitacoreVision · 10 replies
    The New American ^ | 02 January 2017 | Charles Scaliger
    Now that the dust has settled on the elections, the time has come (or so some of the punditry in the media assure us) to set aside political acrimony and unite under the new leadership of President-elect Donald Trump and the new House and Senate. Although it’s far from clear what President Trump will choose to prioritize, now that he will face the realities of entrenched political interests in Washington instead of his fired-up political base on the hustings, it seems at least possible that he will show much more sympathy for certain constitutionalist and Americanist causes — such as...
  • Debt Frozen at $19,808,747,000,000—For 15 Days

    03/31/2017 10:29:59 AM PDT · by Olog-hai · 4 replies
    Cybercast News Service ^ | March 31, 2017 | 12:11 PM EDT | Terence P. Jeffrey
    The portion of the federal debt that is subject to a legal limit set by Congress plummeted by $56,758,000,000 on March 15 hitting its lowest level of 2017, according to the Daily Treasury Statement. On that same day, the federal debt hit its legal limit, according to the same Daily Treasury Statements. For the 15 days since then, according to the Treasury’s statements, the debt subject to the limit has been frozen at $19,808,747,000,000—approximately $25 million below the new legal limit. The debt was able to hit its legal limit—even on a day when it was plunging dramatically—because when the...
  • The Feds Are Being Investigated

    03/28/2017 12:24:47 PM PDT · by HarleyLady27 · 32 replies
    Market Watch ^ | March 28, 2017 | Gregg Robb
    In a move that Democrats in the committee fought very hard to resist, a house panel has approved a legislation that will allow a government watchdog audit the federal reserve's spending. Democrats in the committee were firmly against the bill.
  • Democrats pleased that new Fed president Raphael Bostic is black

    03/13/2017 4:30:02 PM PDT · by kevcol · 54 replies
    The Washington Examiner ^ | March 13, 2017 | Joseph Lawler
    Sen. Sherrod Brown, the top Democrat on the Senate Banking Committee, said Bostic's appointment "is an historic step forward that is long overdue. In its century of existence, the Fed's ranks have lacked the kind of diversity — of race, gender, background and ideas — that reflects the wide spectrum of Americans' experiences and economic realities." Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, also issued a statement applauding the appointment of Bostic as the first black and first openly gay regional Fed president.
  • Former Obama Housing Official Raphael Bostic to Lead Atlanta Fed

    03/13/2017 3:39:04 PM PDT · by DoodleDawg · 11 replies
    Wall Street Journal. ^ | 3/13/17 | Kate Davidson & Michael S. Derby
    Raphael Bostic, a former Obama administration housing official, was named president of the Federal Reserve Bank of Atlanta, becoming the first African-American selected to lead one of the 12 regional Fed banks in the institution’s century of existence. Mr. Bostic, a 50-year-old professor of public policy at the University of Southern California in Los Angeles, will take over June 5, the Atlanta Fed said Monday. He succeeds Dennis Lockhart, who retired at the end of February after a decade of service, and his appointment was approved by the Atlanta Fed’s board of directors and the Fed board of governors, the...
  • Sound Money Bill Moves One Step Closer to Law in Arizona

    03/10/2017 7:43:44 AM PST · by VitacoreVision · 6 replies
    The New American ^ | 10 March 2017 | Joe Wolverton, II, J.D.
    Arizona came one step closer to recognizing gold and silver as legal tender within its sovereign borders when a bill to that effect was passed by a committee of the State Senate. By a vote of 4-3, the Republican majority passed HB 2014, which would "exempt from gross income the exchange of one kind of legal tender for another" and redefines legal tender to include "specie," that is to say, "coins having precious metal content.”In plain English, this proposal would provide a way for Arizonans to buy and sell gold and silver without having to treat it as a capital...
  • Should the United States Abandon the Federal Reserve System?

    03/09/2017 8:07:43 PM PST · by Tolerance Sucks Rocks · 54 replies
    Economics Wire ^ | March 9, 2017 | Viliyana Filipova / Mr. Conrad
    The Federal Reserve gives us the freedom to buy things now that we would otherwise have to wait for.In looking at the Federal Reserve, it is important to note that this is a money system, not just a group of people sitting in a conference room controlling everything having to do with the US dollar. The Fed is a system just like the government of the US is a system. What that means is that no one controls it, and that it is much bigger than any one person or group of people could ever control. They can guide it,...
  • Am I directly or indirectly responsible for the national debt?

    02/26/2017 2:20:28 PM PST · by Laframboise Covenant · 24 replies
    Laframboise Security Covenant ^ | N/A | Laframboise Security Covenant
    Am I directly or indirectly responsible for the national debt? This information is sent so that an exchange through dialogue be made possible. Almost every day, many people keep saying that the system is corrupt, the system needs change, the system, the system and so on. Recently it was discovered that this system is an accounting matrix called double-entry bookkeeping. The sole purpose of this accounting system is for PROFIT through a variety of methods such as interest, taxes, etc. Here is how it begins. All my life I've heard that we receive value for the income taxes we pay...
  • Yellen defends Fed independence, banking regulations

    02/15/2017 2:28:26 PM PST · by Olog-hai · 7 replies
    Associated Press ^ | Feb 15, 2017 4:00 PM EST | Martin Crutsinger
    Federal Reserve Chair Janet Yellen defended the central bank’s independence Wednesday from Republican lawmakers who are pushing for major changes in how the central bank operates and how regulators oversee the nation’s banking system. During a hearing that stretched over four hours, GOP lawmakers repeatedly challenged Yellen’s handling of the economy and her leadership in implementing the 2010 Dodd-Frank Act, a measure that President Donald Trump and Republicans have vowed to overhaul. Republicans pointedly told Yellen that she should realize that changes are underway with Republicans in control of the White House and both the House and Senate. “After eight...
  • Congress Targets Federal Reserve's Globalist Scheming

    02/08/2017 6:49:47 AM PST · by VitacoreVision · 7 replies
    The New American ^ | 07 February 2017 | Alex Newman
    A senior Republican lawmaker is putting Federal Reserve System boss Janet Yellen on notice: There's a new sheriff in town, so America and American interests had better come first from now on. Citing the victory of President Donald Trump, Congressman Patrick McHenry (R-N.C.), the vice chairman of the powerful House Financial Services Committee, sent a letter to Yellen demanding an end to secretive negotiations with unaccountable foreign entities plotting to impose ever more burdensome regulations on Americans. In the letter, the congressman calls such scheming “unacceptable” and demands that it be stopped.Whether knowingly or not, Representative McHenry's letter took aim...
  • Why Venezuela's socialist meltdown COULD actually happen in the US

    01/25/2017 7:35:16 PM PST · by Tolerance Sucks Rocks · 17 replies
    Conservative Review ^ | January 25, 2017 | Logan Albright
    There’s a predictable checklist for meltdowns in socialist countries, and it’s playing out with tragic regularity in Venezuela. Nationalize agriculture? Check. Start government-enforced rationing when the food supply dries up? Check. Seal the border when people try to flee to buy food elsewhere? Check. The next step, and usually one of the last before total collapse, is runaway inflation. That’s what we’re starting to see in Venezuela. Rapid inflation, called hyperinflation by economists when it gets really bad, is one of the deadliest poisons for any economy. The spiral is usually triggered when a government prints too much money to...
  • Blasting "False Economy," Trump Takes on the Federal Reserve

    01/22/2017 7:20:29 PM PST · by VitacoreVision · 21 replies
    The New American ^ | 08 September 2016 | Alex Newman
    Taking aim at the Federal Reserve's politically motivated manipulation of the U.S. economy, GOP presidential candidate Donald Trump blasted the controversial central bank's artificially low interest rates. He also denounced the “very false economy” propped up by Fed monetary gimmicks. Democrat nominee Hillary Clinton, though, hit back immediately, saying Trump should not malign or even comment on the increasingly unpopular institution that controls America's monetary system.Trump's comments, which sparked national headlines, came earlier this week at an Ohio campaign stop in response to a question from a reporter about possible interest rate hikes by the Fed later this month. “They're...