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The Moment When The San Francisco Fed Finally Figures Out What “Debt” Is
The Moment When The San Francisco Fed Finally Figures Out What “Debt” Is
The San Fran Fed, in addition to being the lair that hatched the current Fed chairmanwoman, is best know for spending millions in taxpayer funds to “contemplate” such profound topics as:
- “Is It Still Worth Going To College?”
- “How Important Are Hedge Funds In A Crisis“
- “Is Structural Unemployment Is On The Rise (Says It Isn’t)”
- “Are Tumbling Existing Home Sales Due To “Rising Rates“
- “Is A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years“
- “Easy Credit Leads To Increase In Household Borrowing“
And let’s not forget “San Fran Fed Spends More Money To Justify Colossal Failure At Anticipating Consequences Of Its Actions.”
So today, in the latest example of misappropriation of millions in taxpayer “R&D” funds by a Federal Reserve bank, has released a note titled, mysteriously enough, “Mortgaging the Future?” unleashes the following shocker: “Leverage is risky.”
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This coming from the institution that monetized $3 trillion in US debt, and whose balance sheet will never be unwound without a global market crash so profound it would likely lead to a global war?
Why yes. That’s right.
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So for all those curious to learn just how stupid the Fed is, and desperate for laughter in these centrally-planned times, here are several excerpts of deep intellectual work from what according to many is the most important regional Fed in the US (now that everyone is aware Goldman Sachs is in charge of the NY Fed and is scrambling to limit the vampire squid’s domination over the world’s most levered hedge fund in the world):
…click on the above link to read the rest of the article…
The Federal Reserve Bank Must Be Destroyed!
The Federal Reserve Bank Must Be Destroyed!
“Delanda est in Susidium Foederatum Bank”
(The Federal Reserve Bank Must be Destroyed)
During the years of the Roman Republic, Cato the Elder ended every speech with the phrase “Delanda est Carthago” (Carthage must be destroyed). Rome had fought two wars with Carthage, yet the threat to the Republic remained. Cato saw Carthage as an existential threat and concluded that Rome would not be secure as long as Carthage existed. So fervently did he hold this view that he ended every speech, even about completely different subjects, with the famous phrase. I believe that we Austrians need to adopt a similar phrase to remind the American people that the US faces an existential threat from the machinations of the Federal Reserve Bank. “Delanda est in Susidium Foederatum Bank”…The Federal Reserve Bank must be destroyed. Like Carthage, the Federal Reserve Bank cannot be controlled or restrained. Either it or our republic will survive, but not both. For the sake of our nation, the Fed must be destroyed.
…click on the above link to read the rest of the article…
New York Fed’s Conference Evokes Thoughts of Violence Against Wall Street
New York Fed’s Conference Evokes Thoughts of Violence Against Wall Street.
What the New York Fed attempted to pull off this past Monday with its full-day conference for the execs of wayward Wall Street banks was a public relations stunt to switch the national debate from its culture to Wall Street’s culture. Styled as a “Workshop on Reforming Culture and Behavior in the Financial Services Industry,” the event came less than a month after ProPublica and public radio’s “This American Life” released internal tape recordings made by a former New York Fed bank examiner, Carmen Segarra, revealing a regulator with no bark or bite.
ProPublica’s Jake Bernstein wrote that the tapes and a confidential report by an outside consultant demonstrated the New York Fed’s “history of deference to banks.”
But there is far more to this story. Wall Street banking executives, who elect two-thirds of the Board of Directors of the New York Fed and have frequently served on its Board, have structured the institution to be its sycophant. Consider the fact that Jamie Dimon, CEO of JPMorgan Chase, sat on the Board of the New York Fed from 2007 through 2012 as the regulator failed to follow through on three separate staff recommendations that JPMorgan’s Chief Investment Office undergo a thorough investigation, as reported this week by the Federal Reserve System’s Inspector General.
…click on the above link to read the rest of the article…
