This is not your grandmother’s “yield curve control.” There is only one thing that could force this ECB absurdity to end: a big bout of inflation… Read More Central Bank Machinations with No Exit: ECB Leaks New Thingy, It’s Doing Yield Spread Control
Following the stock market crash in 1929, more than 9,000 banks in the United States failed over the next four years. In just the one year of 1933, more than 4,000 banks closed their doors permanently as a result of insolvency… Read More Wall Street’s Casino Banks Party Like It’s 1929
Triggering a showdown — Government of Mexico v. Central Bank — over paper dollars, with ramifications in the US and globally… Read More Paper Dollars in Circulation Globally Spike. But a Mexican Bank Can No Longer Unload its Hoard of Paper Dollars
Bloomberg News attempts to capture the “speculative frenzy” of today’s markets; here’s the key stuff it missed.… Read More Welcome to a Rerun of the Roaring ’20s
“Committing” money and actually turning the funds over are two very different things.… Read More Research Arm of Congress Confirms that Mnuchin Never Released Bulk of CARES Act Money Earmarked for Fed’s Emergency Loans
The pace of monetary destruction is making a new leap. In the last two weeks of November, M1 money supply jumped by over 14% — an annualised rate of 367%… Read More The Next Dollar Problem Has Just Arrived
There was a jaw-dropping exchange between Politico reporter Victoria Guida and Fed Chair Jerome Powell at his press conference yesterday… Read More Fed Chair Powell Opens a Big Can of Worms at His Press Conference
The central bank is in effect holding the fort through the worst of the crisis and shielding vulnerable states from markets until late 2021… Read More The ECB Adds Another Half Trillion in QE, Even As Italy Eyes Debt Cancellation on the Last Batch
Tens of billions of dollars of CARES Act money has been put to very strange use by Mnuchin… Read More 75% of the $454 Billion CARES Act Money Never Went to the Fed; It Was Invested by a Mnuchin Slush Fund Called the ESF
the banks – hard to believe in a time when we’re facing a banking crisis that many of the banks created – are still the most powerful lobby on Capitol Hill. And they frankly own the place.”… Read More Citigroup and JPMorgan Receive Huge Fines for Crimes the Regulators Daren’t Even Reveal
The four programs directed at helping Wall Street were the only programs that Mnuchin instructed the Fed to keep alive past December 31, 2020. For three of them, the transaction data is still being kept secret… Read More The Untold Story of Mnuchin’s Demand for the Fed to Shut Down Emergency Lending Programs
“When the Fed has to step in to support the market for Treasury bonds, I view it as the financial equivalent of our military going to DEFCON 2,” said one congressman.… Read More The Fed Says It’s Considering a Central Clearing Facility for the Treasury Market
