When European Central Bank chief Mario Draghi left office last month, he was widely praised for “saving the euro.” But he did this at the expense of working people — exploiting the crisis to impose an ever more unbreakable austerity regime… Read More Saving Europe’s Bankers, Not Its Workers
In a very real way, MMT is already here… Read More The Federal Reserve Is Directly Monetizing US Debt
“The core of the financial sector appears resilient, with leverage low and funding risk limited relative to the levels of recent decades,” Powell told congress yesterday. It’s a lie… Read More The Fed’s Big Lie on Its Repo Loans
There is a very substantive argument against Dimon being a patriot and a very persuasive argument that he’s a crime boss sitting atop a federally-insured bank backstopped by the U.S. taxpayer that has scooped up $1.6 trillion in deposits from honest folks across America… Read More Is JPM Chase Chairman and CEO Jamie Dimon a Patriot (As He Claims) or An Orgazinized Crime Boss?
After peak negative-yield-absurdity in August, bond prices fell – the “bond bloodbath” – and the mountain of bonds with negative yields has plunged by $5 Trillion, or by 30%, despite rate cuts.… Read More Negative Yielding Bonds Turn into Punishment Bonds
In addition to the unprecedented financial power that the New York Fed has amassed, it has a strange, cosy and unexplained relationship with JPMorgan Chase… Read More Dangerous Liaisons: New York Fed and JPMorgan’s Incestuous Relationship
The Fed is in deep fear, while also in deep denial, about what happened last December… Read More The Fed’s Wall Street Bailout May Go into Overdrive in December
Shades of 2007–2008?… Read More Modern Central Banking Is More Vulnerable Than We Think
If the Fed isn’t seeing large imbalances, it’s simply because it isn’t looking or is consciously choosing to stick its head in the sand… Read More These Charts Hold a Big Clue to the Liquidity Squeeze on Wall Street
Prepare for the coming wealth transfer… Read More The End of Money
What the Fed is now doing has all the same earmarks as the actions it took in the early days of the last crisis… Read More Fed’s Latest Plan for Bailing Out Wall Street Banks: Let Them Overdraft their Accounts at the Fed
The purchases “are a temporary measure to help the economy recover”… Read More Federal Reserve Spokesman Explains How It Creates Money Out of Thin Air to Pump Out to Wall Street
