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Market Watchdog Calls Out Federal Reserve To Disprove it is Manipulating Index Futures Thumbnail

Market Watchdog Calls Out Federal Reserve To Disprove it is Manipulating Index Futures

Posted on Jan 05, 2010 in Economic News, Federal Reserve & Bankers

Source: ZeroHedge

Charles Biderman, chief executive of TrimTabs Investment Research, is the latest and most credible person to charge that the Federal Reserve and the Treasury (in league with top Wall Street firms) is rigging the stock market on a daily basis.

In a special report released Tuesday, Biderman said the $6 trillion increase in U.S. stock-market capitalization since March can’t be explained by the usual sources of funds flowing into the market — such as mutual funds, direct retail investment, pension funds, hedge funds or foreign purchases.
The only logical explanation for the extent of the rally, he suggested, is secret buying by a government committee known colloquially as the Plunge Protection Team. It’s like the dark matter that astrophysicists conjecture must be there, even if we can’t detect it.

The PPT was established by President Ronald Reagan in 1988 after the 1987 stock crash to coordinate the government’s response to market meltdowns. It consists of the Fed chairman, the Treasury secretary, the head of the Securities and Exchange Commission and the head of the Commodity Futures Trading Commission.

Read the entire article here – ...

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Bernanke: Fed Reserve Will Make Profit on Bailout

Posted on Dec 07, 2009 in Economic News, Federal Reserve & Bankers

NEW YORK (CNNMoney.com) — Federal Reserve chairman Ben Bernanke said Monday he’s confident the Federal Reserve will make money on the trillions it has pumped into the economy since the start of 2008.

[Hayden’s Note: Hmmmm, the Federal Reserve will make a profit.  Why is a ‘for-profit’ entity in control of our country’s monetary policies?!  Oh, wait… that’s because the Federal Reserve is one of the world’s largest, if not THE largest, Central Bank and has private shareholders, such as JP Morgan, Chase Manhattan, Bank of America, CitiBank, etc ad naseum.  Have I mentioned I hate the Federal Reserve lately?]

“I think we’re in very good shape,” Bernanke said, answering questions following a speech at the Economic Club of Washington. “I do believe we’re going to get back all the money, and indeed we’ll be showing for the taxpayers fairly significant extra income.”

Bernanke was referring specifically to Fed programs — not the Troubled Asset Relief Program (TARP). The U.S. Treasury will likely lose money on TARP, though the Obama administration is expected to announce soon that losses will be $200 billion less than initially expected....

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Bernanke Faces Sharp Criticism at Confirmation Hearing Thumbnail

Bernanke Faces Sharp Criticism at Confirmation Hearing

Posted on Dec 04, 2009 in Featured Articles, Federal Reserve & Bankers

Source: CNN Money

Hayden’s Note:

I know it’s a lengthy story – but at least read Bunning’s comments to Bernanke towards the end.  Burned!

300_200fedreserve

NEW YORK (CNNMoney.com) — Federal Reserve Chairman Ben Bernanke got a rough going over from both his supporters and detractors at his Senate confirmation hearing Thursday.

Even some of those who praised his actions during the financial troubles of the last two years, such as Senate Banking Committee Chairman Chris Dodd, balanced that support with arguments that the central bank should be stripped of some of its bank regulation powers due to its past failures of oversight.

While many Democrats on the banking panel joined Dodd in saying they would vote for another four-year term for Bernanke, some of the Republicans questioned whether they could support the chairman who was first appointed by President George W. Bush.

One long-time Bernanke critic Jim Bunning, R-Ky., said he was ready to do everything he could to block or delay the confirmation, joining a similar threat made late Wednesday by Sen. Bernie Sanders, the Socialist senator from Vermont who is among the 60 members of the Democratic caucus....

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Economists Opposing ‘Audit the Fed’ Bill have Undisclosed Ties to the Fed Thumbnail

Economists Opposing ‘Audit the Fed’ Bill have Undisclosed Ties to the Fed

Posted on Nov 19, 2009 in Featured Articles, Federal Reserve & Bankers

Huffington Post
As the debate over an audit of the Federal Reserve intensifies in the House, one camp is trotting out eight academics that it calls a “political cross section of prominent economists.”
A review of their backgrounds shows they are anything but.
300_200fedreserveIn a letter to the House Financial Services Committee earlier this month, all eight wrote that they support the type of amendment now being introduced by Rep. Mel Watt (D-N.C.). Watt’s approach purports to increase Fed transparency while it actually would tighten restrictions on any audits that could go forward.  The letter was sent around Wednesday by Watt’s staff to members of the committee in advance of a vote scheduled for Thursday.
Watt’s measure is in competition with an amendment cosponsored by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.), which would repeal the restrictions that Watt leaves in place.  But far from a broad cross-section, the “prominent economists” lobbying on behalf of the Watt bill are in fact deeply involved with the Federal Reserve. Seven of the eight are either currently on the Fed’s payroll or have been in the past....

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Barney Frank Warns Bernanke to Brace for Audit; Assures Secrecy Thumbnail

Barney Frank Warns Bernanke to Brace for Audit; Assures Secrecy

Posted on Nov 12, 2009 in Featured Articles, Federal Reserve & Bankers

Barney Frank warns Bernanke that he might be forced to embrace a compromised version of Ron Paul’s ‘Audit the Fed’ bill; promises to “wall off” attempts to examine monetary policy

Aaron Dykes
Infowars.com
November 12, 2009

The NY Times reports that House Financial Chairman Barney Frank has met in private with Ben Bernanke to plan strategies for bracing against the article_barney_bernankeoverwhelming popular demand to audit the private Federal Reserve, voiced– piercingly for Bernanke– in Rep. Ron Paul’s bill, now with some 300 co-sponsors.

Frank’s part in meeting was to urge Bernanke to face reality– “Mr. Frank warned that he might have to embrace a version of Mr. Paul’s bill,” wrote the Times– now it was time to consider compromises.

However, responding to Bernanke’s top concerns, Barney Frank “vowed” that:

he would “wall off” deliberations on basic monetary policy, and delay the release of information about the Fed’s financial operations to prevent traders from capitalizing on its moves.”

Bernanke’s “apocalyptic” fear of H.R. 1207 and the accompanying rise in public interest in the Fed, as the NY Times describes it, underscores the drastic survival mechanism of an institution that has historically relied on the secrecy provided by its bland exterior....

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The Fed’s Greatest Round of Asset Inflation Thumbnail

The Fed’s Greatest Round of Asset Inflation

Posted on Oct 23, 2009 in Featured Articles, Federal Reserve & Bankers

The Fed’s Latest, Greatest Round of Asset Inflation

Source: MoneyandMarkets.com

by Mike Larson   10-23-09

300_200bernankemic

There goes oil, surging past $80-a-barrel. That’s up 150 percent from the December low, in case you’re keeping score.

Gasoline? Wholesale prices are up more than 40 cents a gallon in just under a month …

Heating oil? Grab an extra blanket! It just jumped to the highest price in almost a year …

Corn? It’s up almost a buck a bushel since mid-September …

Wheat? Rising. Soybeans? Yep. Sugar? Near a 26-year high. And I hope you’re not planning on eating too much chocolate this Halloween. Replacing it will cost a lot more considering cocoa futures just soared to the highest level in almost three decades.

If you’re a resource-sector investor, this is all great news!  

But for everyone else, it just means higher prices at the pump … a dramatic escalation in heating bills … pricier bread … more expensive cereal … and so on.

And you know what? Federal Reserve policymakers probably couldn’t be happier! They want prices to surge. In fact, they are deliberately pursuing reckless monetary policies and a strategy of dollar debasement in order to ENSURE we get yet another round of asset inflation!...

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Deserted shopping mall bleak symbol of Fed bailout Thumbnail

Deserted shopping mall bleak symbol of Fed bailout

Posted on Oct 22, 2009 in Economic News, Featured Articles, Federal Reserve & Bankers

Wed Oct 21, 2009 6:33pm BST By Alister Bull OKLAHOMA CITY (Reuters) - A $29 billion trail from the Federal Reserve's bailout of Wall Street investment bank Bear Stearns ends in a partially deserted shopping center on a bleak spot on the south side of Oklahoma City. The Fed now owns the Crossroads Mall, a sprawling shopping complex at the junction of Interstate highways 244 and 35, complete with an oil well pumping crude in the parking lot -- except the Fed does not own the mineral rights. The Fed finds itself in the unusual situation of being an Oklahoma City landlord after it lent JPMorgan Chase $29 billion to buy Bear Stearns last year. That money was secured by a portfolio of Bear assets. Crossroads Mall is the only bricks and mortar acquired through bailou

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