|November 11th, 2009, 10:18 AM||#1 (permalink)|
Perdido Beach, AL
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What's the Fed Hiding?
Two Fed apologists, Alin Kashyap and former Fed governor Frederic Mishkin, are out with an Op-Ed in WSJ that claims the Fed is transparent enough, and that Ron Paul's Audit the Fed Bill is useless.
"It is completely appropriate to hold the Fed accountable for its decisions. But the [Ron] Paul bill, H.R. 1207, will only produce redundancies: Congress already has multiple ways of finding out what the Fed is doing and why," write the dynamic duo.
hmmmm. read more here
EconomicPolicyJournal.com: What's the Fed Hiding?
It may sound a bit out of touch to talk about the suppression of the gold price as it hits new highs, but the gold climb may be more evidence of the failure of governments to control markets, rather than evidence that they haven't tried....
EconomicPolicyJournal.com: More History on Government Gold Price Suppression
"You do not have to settle for rumors about the "Plunge Protection Team," also known as the President's Working Group on Financial Markets. Again you can just look at the public record.
The Federal Reserve injects billions of dollars into the stock and bond markets every week, on the public record, through the major New York financial houses, its so-called primary dealers in federal government bonds, using what are called repurchase agreements and the Fed's Primary Dealer Credit Facility. The financial houses thus have become the Fed's agents in directing that money into the markets. The recent rise in the U.S. stock market matches almost exactly the money funneled by the Fed to the New York financial houses through repurchase agreements and the Primary Dealer Credit Facility."