The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the right), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.
CONTINUED:
http://www.silverbearcafe.com/private/10.11/gaoaudit.html
Showing posts with label Ben Bernake. Show all posts
Showing posts with label Ben Bernake. Show all posts
Friday, December 30, 2011
Thursday, September 22, 2011
THE BLAZE: So What is the Fed‘s New ’Operation Twist?’
September 22, 2011
The Federal Reserve announced yesterday that it will use more than $400 billion to try to drive down long-term interest rates, make home and business loans cheaper and invigorate the economy.
Analysts said the moves would provide only a slight economic benefit.
The plan the Fed unveiled, dubbed “Operation Twist,“ resembles a program the Fed used in the early 1960s to ”twist” long-term rates lower relative to short-term rates.
“This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative” the Fed said in its official statement according to a recent CNN Money article.
In its statement, the Fed noted that the economy is growing slowly; unemployment is high and housing remains in a prolonged slump.
“This is a measured response to weak economic conditions,” said David Jones, head of DMJ Advisors and the author of four books on the Fed.
“The Fed is still trying but it can only do so much,” he said in the AP report.
MORE: http://www.theblaze.com/stories/so-what-is-the-feds-new-operation-twist/
The Federal Reserve announced yesterday that it will use more than $400 billion to try to drive down long-term interest rates, make home and business loans cheaper and invigorate the economy.
Analysts said the moves would provide only a slight economic benefit.
The plan the Fed unveiled, dubbed “Operation Twist,“ resembles a program the Fed used in the early 1960s to ”twist” long-term rates lower relative to short-term rates.
“This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative” the Fed said in its official statement according to a recent CNN Money article.
In its statement, the Fed noted that the economy is growing slowly; unemployment is high and housing remains in a prolonged slump.
“This is a measured response to weak economic conditions,” said David Jones, head of DMJ Advisors and the author of four books on the Fed.
“The Fed is still trying but it can only do so much,” he said in the AP report.
MORE: http://www.theblaze.com/stories/so-what-is-the-feds-new-operation-twist/
Monday, April 4, 2011
When Will The People Of Walmart Wake Up To Inflation?
April 4, 2011 by Bob Livingston
Serious price inflation will come this summer.
Although I have warned readers for some time that hyperinflation is coming, this is not me saying it, but Walmart CEO Bill Simon. Last week he told USA Today that inflation is “going to be serious” in the coming months.
“We’re seeing cost increases starting to come through at a pretty rapid rate,” he said.
Of course, back in October 2010, Federal Reserve Chairman Ben Bernanke promised that inflation was his goal. “For the first time in many decades, [the Fed] had to take seriously the possibility that inflation can be too low as well as too high,” he said.
“Every single retailer has and is paying more for the items they sell, and retailers will be passing some of these costs along,” John Long, retail strategist at Kurt Salmon told USA Today. Along with steep increases in raw material costs, labor costs in China and fuel costs for transportation are weighing heavily on retailers, he said.
READ ON:
http://www.personalliberty.com/conservative-politics/when-will-the-people-of-walmart-wake-up-to-inflation/
Serious price inflation will come this summer.
Although I have warned readers for some time that hyperinflation is coming, this is not me saying it, but Walmart CEO Bill Simon. Last week he told USA Today that inflation is “going to be serious” in the coming months.
“We’re seeing cost increases starting to come through at a pretty rapid rate,” he said.
Of course, back in October 2010, Federal Reserve Chairman Ben Bernanke promised that inflation was his goal. “For the first time in many decades, [the Fed] had to take seriously the possibility that inflation can be too low as well as too high,” he said.
“Every single retailer has and is paying more for the items they sell, and retailers will be passing some of these costs along,” John Long, retail strategist at Kurt Salmon told USA Today. Along with steep increases in raw material costs, labor costs in China and fuel costs for transportation are weighing heavily on retailers, he said.
READ ON:
http://www.personalliberty.com/conservative-politics/when-will-the-people-of-walmart-wake-up-to-inflation/
Friday, April 1, 2011
NO JOKE: FOREIGN BANKS TOOK MOST FROM FED; BERNANKE KEPT SECRET!!
U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.
READ MORE: http://randysright.wordpress.com/2011/04/01/no-joke-foreign-banks-took-most-from-fed-bernanke-kept-secret/
READ MORE: http://randysright.wordpress.com/2011/04/01/no-joke-foreign-banks-took-most-from-fed-bernanke-kept-secret/
Sunday, January 16, 2011
Congressman Walter Jones is asking for an investigation into whether the Federal Reserve's money printing is driving up prices for commodities, including crude oil and gasoline.
CONTRIBUTIONS BY LYNN BONNER AND ROB CHRISTENSEN
Congressman Walter Jones is asking for an investigation into whether the Federal Reserve's money printing is driving up prices for commodities, including crude oil and gasoline.
The Farmville Republican has sent a letter to U.S. Rep. Ron Paul of Texas, the incoming chairman of the House Domestic Monetary Policy Subcommittee, asking him to look at the connection between the printing of money and rising prices.
"Working people in Eastern North Carolina are being squeezed at the gas pump and the grocery store as they struggle to make ends meet in a world in which their salaries have no chance of keeping up with Mr. Bernanke's printing presses," Jones said. "The Federal Reserve must be held accountable for the damage it is creating."
Ben Bernanke, who grew up in Dillon, S.C., is chairman of the Federal Reserve.
http://www.newsobserver.com/2011/01/16/923137/jones-wants-a-probe-of-us-money.html#ixzz1BDVvOwwP
CONTRIBUTIONS BY LYNN BONNER AND ROB CHRISTENSEN
Congressman Walter Jones is asking for an investigation into whether the Federal Reserve's money printing is driving up prices for commodities, including crude oil and gasoline.
The Farmville Republican has sent a letter to U.S. Rep. Ron Paul of Texas, the incoming chairman of the House Domestic Monetary Policy Subcommittee, asking him to look at the connection between the printing of money and rising prices.
"Working people in Eastern North Carolina are being squeezed at the gas pump and the grocery store as they struggle to make ends meet in a world in which their salaries have no chance of keeping up with Mr. Bernanke's printing presses," Jones said. "The Federal Reserve must be held accountable for the damage it is creating."
Ben Bernanke, who grew up in Dillon, S.C., is chairman of the Federal Reserve.
http://www.newsobserver.com/2011/01/16/923137/jones-wants-a-probe-of-us-money.html#ixzz1BDVvOwwP
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