(Michael Snyder) For the very first time since the last financial crisis, the Federal Reserve has been forced to conduct an emergency intervention in the repo market. I know that a lot of people out there don’t know what the repo market is or how it works, and so let me start out with a very basic analogy that may help people understand what we are facing.
federal reserve
Economy News: Liquidity Shortage Getting Worse: Fed’s Repo Oversubscribed As Funding Demand Soars 50% Overnight
(Zero Hedge) 20 minutes after today’s repo operation began, it concluded and there was some bad news in it: as we feared, yesterday’s take up of the Fed’s repo operation which peaked at $53.2 billion has expanded substantially, and according to the Fed, today there was a whopping $80.05BN in bids submitted, an increase of $27 billion, or 50% more than yesterday.
The Federal Government Sold Your Social Security Number for FIVE Dollars
(Simon Black) Welcome to our Friday roll up, where we highlight the most absurd and concerning stories we are following this week.
When You Get An Email Like This From The Fed, It May Be Time To Panic
(Zero Hedge) Yesterday, in a lengthy article referencing the ongoing dollar and funding liquidity collapse as a result of the aggressive rebuild of the Treasury’s cash balance from $133BN to $350BN in the aftermath of the debt ceiling deal, we said “Forget China, The Fed Has A Much Bigger Problem On Its Hands.”
GROUNDBREAKING: For The First Time In 25 Years, US Treasury Just Designated China A Currency Manipulator
(Zero Hedge) Following the plunge in the yuan overnight, The U.S. Treasury Department on Monday designated China as currency manipulator, a historic move that no White House had exercised since the Clinton administration.
The Empire Is Coming For Tulsi Gabbard
(Tom Luongo) The second debate among Democratic hopefuls was notable for two things. The lack of common decency of most of them and Tulsi Gabbard’s immense, career-ending attack on Kamala Harris’ (D-Deep State) record as an Attorney General in California.
New Whistleblower Allegation: YouTube Manipulated ‘Federal Reserve’ Search Results in Response to MSNBC Host’s Complaint
(Allum Bokhari) Google-owned YouTube manually adjusted search results for “Federal Reserve” after MSNBC host Chris Hayes complained about the prominence of anti-Fed videos in the top results, according to a source who worked at the tech company.
Presidential Candidate Tulsi Gabbard Co-Sponsors “Audit The Fed” Bill
(Zero Hedge) Representative Thomas Massie (R-KY) told Luke Rudkowski of “We Are Change,” a libertarian media organization, that Democratic presidential candidate Tulsi Gabbard has just signed on as a co-sponsor of Audit the Fed bill, officially known as H.R.24 The Federal Reserve Transparency Act of 2019.
Trump’s Re-election? Did the Federal Reserve Already “Decide the 2020 US Election”?
(Collective Evolution) As of beginning July 2019 prospects look positive for a re-election ofDonald Trump as President in November 2020. Headline stock market and GDP figures all look positive…at the present. The huge unanswered question is whether that can be sustained until the fateful elections. We see signs already that spell potential trouble for the Republicans.
California Senate Passes Revolutionary Bill to Bypass Federal Reserve, Create Cannabis Banking Industry
(Mike Maharrey) The California Senate just passed a revolutionary bill that will nullify the control the Federal Reserve has over the cannabis industry by creating a separate banking industry—solely for cannabis.
Congressman Calls for Banning Bitcoin Because it ‘Takes Power’ from the Corrupt Federal Reserve
(Matt Agorist) The Federal Reserve is shaking in their boots over the power of cryptocurrency to deplatform their monopoly on the control of money, so their henchmen are moving to ban it.
Federal Reserve ‘Gnostic Secrets’ Now Revealed? A First Take on the Fed’s Bank Holding Company Act Control ProposalFederal Reserve ‘Gnostic Secrets’ Now Revealed? A First Take on the Fed’s Bank Holding Company Act Control Proposal
(Morgan Lewis) The Federal Reserve Board (Fed) released on April 23 a notice of proposed rulemaking to clarify the standards and criteria under which one company “controls” another company under the Bank Holding Company Act (BHCA) and the Savings and Loan Holding Company Act (SLHCA). This long-awaited proposal, which Fed officials have stated for some time was in the works, is notable for several reasons—primarily because if adopted, it will bring much-needed clarity to an area of banking law that historically has been notoriously opaque.
Oregon Bill Would Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve
(Michael Maharrey) A bill filed in the Oregon House would establish limited state-chartered banks to serve the cannabis industry. Final passage of this legislation would remove a major federal roadblock in front of the developing industry in the state and further nullify federal prohibition in practice. Rep. Pam Marsh (D) and Rep. Ken Helm (D) introduced House Bill 3169 (HB3169) on Feb. 28. The legislation would create a self-contained, state chartered banking system for the cannabis industry in Oregon.
How The Federal Reserve Quietly Bankrupted The US Pension System
(Stephanie Pomboy) Actions have consequences. Even for the Fed.
Is The Federal Reserve Actually TRYING To Cause A Stock Market Crash?
(Michael Snyder) The Federal Reserve has decided not to come to the rescue this time.