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Billions for Wall Street, A Kick in the Pants for You and I
Gretchen Morgenson reported this in an article called “Rescue Me: A Fed Bailout Crosses a Line” published in the New York Times (3/16/08): “For the government to print money at the expense of taxpayers as opposed to requiring or going about a receivership and wind-down of any insolvent institutions should be troubling to taxpayers […]
“Now,” he said, “we cannot even maintain a zinc standard.”
WASHINGTON — These days, your thoughts are worth 1.7 cents.
That’s what it costs the government to forge a penny, thanks to the rising price of metal. A nickel costs 10 cents. Congress has concluded that’s a pretty bad deal.
A House subcommittee chaired by Rep. Luis Gutierrez, D-Ill., convened a hearing Tuesday on a proposal […]
Rogers: Fed Has “Given Up” On The Dollar
Expert investor Jim Rogers has slammed the Federal Reserve for destroying the dollar in order to rescue Wall Street, calling it “outrageous” that Ben Bernanke used $230 billion […]
America was conned - who will pay?
Bear Stearns marks the moment when the global financial crisis went critical. Up until last Friday, it had been possible - just about - to believe that the worst was over and that things were about to get better. That pretence was stripped away when JP Morgan, at the behest of the Federal Reserve, […]
Sub-prime collapse ‘beyond the US Federal Reserve’
FEARS are growing that the US Federal Reserve may soon find itself short of the funds needed to continue propping up the nation’s financial system.
The central bank yesterday used its financial muscle to back the bail-out of the stricken Wall Street investment banking giant Bear Stearns, which will be taken over by rival JPMorgan […]
Leading Economist: Dollar Faces Outright Collapse
Financial experts issue dire warnings as Fed and Treasury continue to say they are “committed to a strong dollar”
Another prominent economist has warned that the bottom may soon drop out of the dollar completely as the currency hits fresh lows and continues to sink worldwide.
[ read article ]
City sceptical on market cash injection
Economists have warned that yesterday’s massive cash boost to the money markets by central banks might not stop the credit crunch becoming more entrenched.
Leading central banks swept into the markets, pledging to pump hundreds of billions of dollars into the disintegrating financial system. Stock markets rallied after the US Federal Reserve, the European Central […]
Fed to Lend $200 Billion, Accept Mortgage Securities
March 11 (Bloomberg) — The Federal Reserve, struggling to contain a crisis of confidence in credit markets, will for the first time lend Treasuries in exchange for debt that includes mortgage-backed securities.
The Fed said in a statement in Washington it plans to make up to $200 billion available through […]
Dollar Falls to Record Low Versus Euro as Fed Signals Rate Cuts
March 1 (Bloomberg) — The dollar fell to the weakest ever against the euro and to a three-year low versus the yen after Federal Reserve officials signaled they will keep cutting interest rates to support the economy.
The U.S. currency dropped 2.4 percent this week against the euro, the […]
Treasury Bonds Real Interest Rates Go Negative as Yields Dip Below Inflation on Panic Safe-haven Buying
Hardly anyone’s noticed, but the frenzy of safe-haven bond-buying has just pushed real yields on US Treasuries below zero.
http://www.marketoracle.co.uk/Article2797.html
“Call it spite if you must. But if the world’s No.1 currency – and the world’s No.1 source of debt finance – both fail to outstrip inflation, investors will slowly go mad. Mad enough, in fact, […]
