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
The most dangerous derivatives – credit derivatives that mainly consist of credit default swaps – are only 36 percent centrally-cleared a decade after the passage of Dodd-Frank.… Read More Derivatives Still Remain a Ticking Time Bomb for the Biggest Wall Street Banks
As of this past Wednesday, the Fed has a $7 trillion balance sheet and almost a third of it is sitting at JPMorgan Chase… Read More Despite Its Five Felony Counts, the Federal Reserve Has Entrusted $2 Trillion in Bonds to JPMorgan Chase
There is a clear danger that the eurozone could relapse into a double-dip recession before it has regained more than half of the output lost during the first wave of the pandemic… Read More ECB Fears Covid Could Trigger a Financial Crisis
Needing income, investors will take imprudent risks to get it. And if 2% invites trouble, zero percent almost demands it.… Read More James Grant: Why Market Risk Is Near The Highest In History
“Unsafe or unsound practices with respect to the Bank’s internal controls, including, among other things, an absence of clearly defined roles and responsibilities and noncompliance with multiple laws and regulations” have been identified.… Read More Citigroup Is Slapped with a $400 Million Fine for Doing Something So Bad It Can’t Be Spoken Out Loud
The global financial crisis that began in 2007/2008 never really ended. It was merely patched up, prolonged, and put on life support by central bank interventions.… Read More Do Recent Central Bank Moves in Gold Market Portend a 2020 Global Monetary Reset?
Eurozone slides further into a debt-deflation trap, risking a protracted economic depression in the south and slow-motion insolvency crisis… Read More Deepening Deflation Pushes Southern Europe Closer to a Debt Spiral
Half of the participants of the New York Fed’s Investor Advisory Committee on Financial Markets (IACFM), which it initiated in the midst of the last financial crisis are chief executives of giant hedge funds… Read More The New York Fed, Pumping Out More than $9 Trillion in Bailouts Since September, Is Getting Market Advice from Giant Hedge Funds
