Fed Chair Jerome Powell now finds himself in the same position as Morgan Stanley’s Howie Hubler and JPMorgan’s Bruno Iksil: he’s got a big trade on and no exit plan. The problem for the U.S. economy is this: Hubler and Iksil were gambling with billions of dollars. Powell is gambling with trillions of dollars. Powell’s Fed has effectively become the Whale in the U.S. debt market…
Democrats Go Out on a Limb for Biden Nominee, Omarova: The Limb Snapped Yesterday…
Yesterday, at 11:41 a.m., as Cornell Law Professor Saule Omarova sat before the Senate Banking Committee for her confirmation hearing to head of the Office of the Comptroller of the Currency (OCC), the regulator of national banks, Republican Senator Tom Cotton Tweeted the following:…
Biden Treasury Pick Wants to Bankrupt Coal, Oil, Gas…
President Biden’s controversial, Soviet-born pick to lead a key branch of the Treasury Department admitted in a newly unearthed video that she “wants” traditional fuel industries “to go bankrupt.”…
The Inspector General Investigating the Trading Scandal at the Fed, Reports to Fed Chair Jerome Powell, Whose Own Trading Is Dubious…
Fed Chair Jerome Powell was quick to refer an investigation into the Fed’s trading scandal to the Inspector General of the Federal Reserve. Notably, he did not refer the matter to the U.S. Department of Justice which has criminal prosecution powers…
Banks Warn That ‘Americans from all income levels’ Will Still Be Snooped on by IRS if Biden Raises Annual Threshold from $600 to $10k…
The group of banks and organizations said they were not satisfied with simply raising the threshold from $600 to $10,000…The organizations urged the White House to withdraw support for the measure and find ‘more targeted measures’ to reduce the tax gap…
A Forensic Look at Jerome Powell’s “Pants on Fire” Explanation for His $1 Million to $5 Million Stock Sale…
On Monday, October 18, the fearless Robert Kuttner at the American Prospect, broke the news that Fed Chairman Jerome Powell had sold between $1 million and $5 million of the Vanguard Total Stock Market Index Fund on October 1, 2020, the same day that Powell had been on four phone calls with Treasury Secretary Steve Mnuchin, who was coordinating the White House response to the financial crisis resulting from the pandemic…
Biden’s Pick for Comptroller of the Currency, Born and Raised in Communist USSR, Won’t Hand Over Her Thesis on Marxism Written When She Was in the USSR…
Biden’s pick for Comptroller of the Currency was born and raised in communist USSR. Now she won’t hand over her university thesis on Marxism…
Jen Psaki Tells Stunning and Dangerous Lies About Transitory Inflation, Claims Price Increases Will Stop – They Won’t…
In her statements today, Psaki referenced people comparing the prices of 2021 consumable goods to 2020 and 2019. Within the statements, the scale of falsity is off the charts…
Never Thought I’d Post This Headline: Biden’s Soviet-Born Nominee for Comptroller of the Currency Thinks Fed Should ‘End Banking’, Admires USSR’s Economy…
Saule Omarova is a Cornell Law School professor who graduated from college in Moscow, where she attended on a scholarship named after Vladimir Lenin…She wrote a paper advocating for the Federal Reserve to take over Americans’ personal banking in order to have more policy clout against big banks…The agency she would oversee is tasked with regulating the country’s banks…
The Fed Just Published 36 Years of Its Money Data. It Shows a Spike in Repo Loans Is an Early Warning of an Impending Market Crash…
On July 29 the Federal Reserve released its Annual Report for 2020. The Appendix contains 13 statistical tables that would make most folks’ eyes glaze over…
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