It has been called "the most astounding piece of sleight of hand ever invented." The creation of money has been privatized, usurped from Congress by a private banking cartel. Most people think money is issued by fiat by the government, but that is not the case. Except for coins, which compose only about one one-thousandth…
The institution which creates and oversees Americas currency wants to keep a "low profile," according to a published report on Monday, and may willing to dodge the U.S. Treasury in order to do so. According to Bloomberg News, the Federal Reserve Bank will not submit to a voluntary public study of its internal structure and…
Wal-Mart , the largest private employer in the U.S., has decided to go paperless when paying employees and is switching to direct deposit and debit cards. For employees who refuse direct deposit, their pay will be offered in the form of a debit card. The program is rolling out nationally in September, and is expected…
L: So, Doug, we’re sitting here in Vancouver, epicenter of many of our investments, thinking about the future. Meanwhile, the U.S. Treasury has announced some mind-boggling debt auctions for next week. Any comments? Doug: Yes, the size of this auction coming up, $235 billion, is really rather shocking – especially when you consider that that’s…
Citigroup (C) is considering paying a $100 million bonus — to one guy. This is the same Citigroup that received $45 billion in bailout money. The same Citigroup that will soon be 34% owned by the U.S. government. The same Citigroup that has lost 95% of its share value since 2007.
The New York Federal Reserve will get an old school insider to replace a Goldman Sachs insider. The chief executive of the nonprofit business organization Partnership for New York City, Kathryn Wylde, has been named a director on the New York Federal Reserve Bank’s Board.
WASHINGTON, July 18 (UPI) — Robert Hormats, a vice chairman of investment bank Goldman Sachs, has been tapped for a key U.S. State Department post, White House officials say. Hormats was named by the Obama administration Friday to be the departments undersecretary for economic, energy and agricultural affairs, an official announcement indicated.
Executives at US banking giant Goldman Sachs sold almost 700 million dollars worth of stock after Lehman Brothers collapsed in September, the Financial Times reported. Most of the sales, worth 431 million pounds or 500 million euros, occurred when the firm enjoyed the support of 10 billion dollars in US government capital injections, the London-based…
When FDIC head Shelia Bair says her agency might have to bolster the FDICs insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us, this 40-year banking veteran included, assumed theres an actual FDIC fund in need of bolstering.
Each month, I receive from Leo Hindery an update on "Americas effective unemployment rate" which includes not only the official unemployment figures but other data points showing off-the-books unemployed or underemployed people.
Goldman Sachs has played a crucial role in creating every market bubble since the 1920s — and has profited from not only the bubbles, but from the crash that followed as well, says a new expose in Rolling Stone magazine.
The seemingly ever escalating rhetoric against Iran by U.S. officials took another step forward today. A senior military official leaked to the press plans to publicly reveal the evidence of weapons caches found in Iraq which can be directly traced back to Iran. The types of weapons found such as roadside bombs are believed to…
Russian Foreign Ministry sources are reporting in the Kremlin today that US President Barak Obama has informed Prime Minister Putin and Chinese President Hu of his intentions to “totally takedown” the private banking system known as the US Federal Reserve that since its dubious creation in 1913 has had complete control over the printing of…
NEW YORK (CNNMoney.com) — The governments list of troubled banks swelled in the first quarter, climbing to its highest level in nearly 15 years, regulators said Wednesday. The Federal Deposit Insurance Corp. said that the number of lenders on its so-called "problem bank" list jumped to 305 during the first three months of 2009, from…
Some worried commentators are predicting a massive hyperinflation of the sort suffered by Weimar Germany in 1923, when a wheelbarrow full of paper money could barely buy a loaf of bread. An April 29 editorial in the San Francisco Examiner warned: "With an unprecedented deficit thats approaching $2 trillion, [the Presidents 2010] budget proposal is…
The real factors driving the gold price are many, and a complete listing is very difficult to provide. They are the essence of the sequence of Gold & Currency Reports here. The bullish gold prospects rest heavily on a weakening USDollar, as well as the planning and gradual installation of global reserve alternatives. The gold…
WASHINGTON — Some Federal Reserve officials are open to raising the amounts of mortgage and Treasury securities purchase programs beyond the $1.75 trillion that they have already committed to buying, according to minutes from the Fed’s April meeting.
WASHINGTON — Big U.S. banks would bear a larger part of the burden of replenishing the Federal Deposit Insurance Corps deposit insurance fund under a proposal being considered by the agency, according to a source familiar with the plans.
NEW YORK — A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poors said the nations banking crisis has “merely entered a new phase” and might not end before 2013. The credit rating agency said the industry is being propped up by…
Brett Ellis, a real estate agent in Fort Myers, Fla., was thrilled when he got an offer for a property in Bell Tower Park in May 2008. "It was a gorgeous property on the corner lot," Ellis told the Huffington Post. The owner, who had lost his job, wanted to sell the apartment for a…