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If these guys were a rose bush with so many thorns and so few flowers, you’d burn it! The Fed can easily be made to work but nobody apparently wants it to, or we’d change it. This rose bush puts out flowers that only stink and wither, but it has thorns the size of your fingers that cling to your pockets and tear at your flesh. We have three articles that were prominent in my news searches today that lay out just how miserably (for all of us) the Fed is failing at its actual mission. The first one by...

The U.S. and China are deepening co-operation on financial stability issues, Treasury Secretary Janet Yellen said on Monday, with more simulations of financial shocks due after a recent exercise on tackling the failure of a large bank. Wrapping up four days of meetings in China, Yellen issued a stern warning to Chinese banks that facilitating transactions providing material support or dual-use goods to Russia for its Ukraine war effort would lead to "significant consequences."

The Meltdown of Commercial Real EstateIn case you’ve still got money in a bank, Bloomberg is warning that defaults in commercial real estate loans could “topple” hundreds of US banks.Leaving taxpayers on the hook for trillions in losses.The note, by Senior Editor James Crombie, walks us through the festering hellscape that is commercial real estate.To set the mood, a new study predicts that nearly half of downtown Pittsburgh office space could be vacant in 4 years. Major cities like San Francisco are already sporting zombie-apocalypse downtowns, with abandoned office buildings baking in the sun.So what happened? The Fed’s yo-yo interest...

The Biden Administration has admitted to surveilling the private financial transactions of Americans for words including 'MAGA', 'Trump' and 'Kamala' following the January 6 riots. Federal investigators in the Treasury's Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for 'extremists'. A letter from the Treasury Department, seen by Fox News, was sent to Senator Tim Scott on Friday which states 'Exchange events' began 'shortly after January 6 under the prior Administration'. It said it 'included terms such as "antifa," "MAGA," "Trump," "Biden," "Kamala," "Schumer," and "Pelosi."' The federal government was specifically 'watching' Trump supporters and...

President Biden's Treasury Secretary Janet Yellen dodged multiple questions from Republicans about why her department instructed banks to comb through Americans' bank records after January 6 looking for 'extremists.' Federal investigators in Treasury's Financial Crimes Enforcement Network (FinCEN) asked U.S. banks to scour customer transactions for key terms like 'MAGA' and 'Trump,' Republicans revealed in January. The federal government was specifically 'watching' Trump supporters and Americans who frequent outdoor stores such as Cabela's, Dick's Sporting Goods and Bass Pro Shops, and also those who purchased religious texts, such as a Bible.

Rep. Jim Jordan (R-Ohio) is requesting a transcribed interview with a former Financial Crimes Enforcement Network (FinCEN) official for allegedly flagging consumer transactions that had the phrases “TRUMP” or “MAGA” in them. On behalf of the Judiciary Committee’s subcommittee on the weaponization of the federal government, Jordan sent a letter requesting testimony to Noah Bishoff, the former director of an office in the Strategic Operations Division of FinCEN, which is part of the Treasury Department. Jordan said the committee had obtained documents showing that FinCEN outlined “typologies” of persons of interest in materials distributed to financial institutions. He said these...

Federal investigators asked banks to search and filter customer transactions by using terms like "MAGA" and "Trump" as part of an investigation into Jan. 6, warning that purchases of "religious texts" could indicate "extremism," the House Judiciary Committee revealed Wednesday. Fox News Digital has learned the committee also obtained documents that indicate officials suggested that banks query transactions with keywords like Dick's Sporting Goods, Cabela's, Bass Pro Shops and more. The House Judiciary Committee and its subcommittee on the Weaponization of the Federal Government have been conducting oversight of federal law enforcement’s "receipt of information about American citizens without legal...

Bankruptcy filings have recently reached levels on par with the 2008 Great Recession and the 2020 COVID-19 pandemic. apolloacademy.com/bankruptcies-rising/ His source appears to be this and it only refers to companies with over $50 million in liabilities. So the y-axis is the number of companies filing for bankruptcy, so a peak of an average of about 8.5 a month. Credit card losses are rising at the fastest pace since the Great Financial Crisis

Republican Sens. Tom Cotton of Arkansas and Marco Rubio of Florida are teaming up to push the Biden administration to review the planned acquisition of Forbes magazine. The pair sent a letter Wednesday to Treasury Secretary Janet Yellen warning her that the planned buyout involves entities tied to Russia and the Chinese Communist Party, which previously tried to purchase the outlet. "Forbes reportedly holds a significant market share among younger Americans, with tens of millions of monthly users," the lawmakers wrote. "This puts Forbes in a unique position to collect and store sensitive personal data on these populations and influence...

VIDEOMunchkins are cute li'l critters. However you don't want to assign any responsibilities to them since they are also completely helpless and unable to function in real world situations. An example of this is the Munchkin known as Janet Yellen who has proved herself to be completely useless as the Secretary of Treasury. You can see Munchkin Yellen's helplessness on display culminating in the downgrading of the USA debt rating. The poor Munchkin can't figure out why that happened.

I had not heard this. And what I am hearing is pretty disturbing as, unsurprisingly, it completely screws American businesses. It takes the concepts of globalism and equity, then combines them while surrendering our sovereignty over our own tax revenues. Basically giving it away.Does that sound about right? The quiet new way @JoeBiden & @TheDemocrats wants to tax you. @OECD surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military. https://t.co/7H2rYl6iB0— Topper in NC (@LieselGreer) July 22, 2023Horrifically enough, it is.Over the past two years,...

The BRICS alliance with Brazil, Russia, India, China and South Africa recently announced that they were planning to float a gold-backed currency to settle international trade payments to challenge the global reserve status of the US dollar. The bloc of the five nations is projected to decide on introducing the new BRICS currency during its next summit in Johannesburg, South Africa, in August. “A tremendous change is taking place in the international economy,” Rasoul Mousavi, the head of the South Asia Department at Iran’s Foreign Ministry, said on Sunday. “The BRICS’s introduction of a gold-backed currency, which is supported by...

James Comer, the chairman of the House Oversight Committee is demanding that Biden’s Treasury Secretary Janet Yellen turn over any and all suspicious activity reports (SARs) related to the Bidens and Burisma. Now we’re talking. If Yellen doesn’t comply, Republicans should hold a press conference and ask why the administration is refusing to be transparent about this. RedState reports: House Oversight Chair to Treasury Sec. Yellen: Provide All Suspicious Activity Reports Regarding Bidens The House Oversight Committee and its Chairman, James Comer (R-KY), have been relentless in pursuing information into bribery allegations against President Joe Biden and the questionable overseas...

A government watchdog group shared exclusive documents with MRC Business exposing an apparently incestuous relationship between Bloomberg News and President Joe Biden’s Treasury Department. The Functional Government Initiative obtained documents through a Freedom of Information Act (FOIA) request. According to FGI’s press release shared with MRC Business, Bloomberg reporters gave Treasury Secretary Janet Yellen such favorable “coverage that they chafed under Treasury’s censorship of their stories, and weren’t shy about letting the Treasury Department know their displeasure.” This reeks of quid pro quo journalism. One July 16, 2021 email caught in the FGI’s FOIA net involved correspondence between Bloomberg News...

The current rally in stocks doesn't mean a new bull market has taken off, as the bear market could easily be re-awakened if the Fed pauses rate hikes, according to Morgan Stanley's chief investment officer Mike Wilson.In a note on Monday, Wilson reiterated his bearish view on stocks, despite the S&P 500's strong performance this year. The benchmark index is now up 20% from its low in October and officially entered a bull market last week – a sign that investors are growing more enthusiastic on stocks as inflation eases and markets dial back their expectations for Fed interest rate...

Speaking today, US Treasury Secretary Janet Yellen said that there should be an expectation of a slow decline in the US dollar as a reserve currency. Moreover, the statements arrive amidst international de-dollarization efforts employed by a host of countries, including the BRICS economic bloc. Yellen had previously stated her expectation that the US dollar would remain unchallenged as the global reserve currency. However, it appears as though recent developments have shifted her stance on the matter. The global reserve currency status of the US dollar has been a constant headline over the past several months. Indeed, as international trade...

Treasury Secretary Janet Yellen sent a letter to Congress on Friday, saying that the government will now have until June 5 before it runs out of money to pay its bills rather than the June 1 deadline she had announced. "Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5," Yellen said, according to ABC News. That allows congressional leaders a few more days to negotiate with the White House. Congressional leaders were expected to vote...

Treasury Secretary Janet Yellen on Wednesday pushed back against a GOP congressman who voiced skepticism about the threat of climate change, suggesting the issue was being used by the Biden administration to secure funding and was not a serious concern. “Can you provide to me, or do you know any research on your own to justify this drastic climate change that we have to do today or the next four or five years this world’s going to come to an end?” Rep Jerry Carl (R-Ala.) asked Yellen at a hearing on the banking system.

U.S. Treasury Secretary Janet Yellen is set to tell members of the Senate Finance Committee on Thursday the U.S. banking system remains "sound" as the impacts of three bank failures in less than a week continue to be felt in financial markets and beyond. "I can reassure the members of the Committee that our banking system remains sound and that Americans can feel confident that their deposits will be there when they need them," Yellen is set to tell the Senate ahead of a scheduled hearing on President Biden's proposed budget. "This week's actions demonstrate our resolute commitment to ensure...

VIDEORemember, it's NOT a bailout! How do we know? Because the government is telling us it is NOT a bailout and they would never lie. Right?