Tag: Federal Reserve

DeFazio: Sacrifice 2 Jobs to get back Millions of Jobs for Americans

Pete DeFazio Slams Tim Geithner & Larry Summers  (TheYoungTurks)


Is it finally Time to Bail Out — MAIN Street ?

Wall Street HAS gotten all their Trillion Dollar Bail Out $$$$$$$$$$$$$

AND so far NOT much of it has Trickled Down to Main Street — Where it’s Most Needed!

Something ‘s got to give — and Soon!

Before Small Town America, (and Metro-America) rolls up the welcome mat, and fades into history.

Alan Grayson accused the Fed of manipulating the stock market

Crossposted at Daily Kos

     Back in late September, Alan Grayson (Big D-FL08) grilled Federal Reserve General Counsel Scott Alvarez on whether or not the Federal Reserve has manipulated the stock and futures market. Since this hasn’t been diaried and Sunday is a slow news day, I thought it would be fun to watch Alan Grayson in action in a bit of a flashback.

(UPDATE: Unfortunately and oddly, the video is no longer working for some strange reason. Good thing I transcribed it when I did. I am looking for another version of the same vide, so hang in there until I can find it

UPDATE 2: Found a second video. Hope you enjoy)

      Transcript and commentary below the fold.

Depression Theater

As the total vacuum of any principled leadership from President Obama has now produced the inevitable directionless, anti-consumer, Insurance Monopoly boondoggle fraud, now masquerading in Congress as “reform“, it is time to reflect upon just who Obama’s friends really are and have been all along, and what his uninspiring charade of a Presidency is really all about.

Video 1

Video 2

Video 3

Video 4

Video 5

Video 6

The Point Grayson was trying to make about The Fed

The only thing Alan Grayson should Apologize for …

was not having the Fed’s Price List

for their services!


Perhaps Grayson can be excused, since “The Fed” does favors for its clients, far from the scrutiny of prying eyes … giving away Billions to their good ole Buddies, both Foreign and Domestic, without so much as a Receipt or and IOU exchanging hands …

It’s easy to see how this shady activity just might get “mis-construed”:

Alan Grayson: Which Foreigners got the Fed’s 500 Billion?


U.S. History They Don’t Teach You In School

Taibbi: Werewolf Grills Federal Reserve Stooge

Just watch the video after reading the contents of this link by Matt Taibbi.  I’ve lifted a paragraph from Mr. Taibbi so you have a better understanding of exactly what you’re watching.

I have personal experience with… well, let’s call it the unique personality of Alan Grayson. In his capacity as an attorney he once basically threatened to have me dismembered and have my body parts dumped in a tin canister and fired into the center of a burning supernova. And that’s actually underselling the real language he used. We were having a disagreement about the use of information given to me by a certain source in a story about military contracting, and in the middle of what had been a normal contentious argument between two sane adults, dude suddenly assumed this crazy monster-voice and just went medieval on me. He was roaring into the telephone about how he was going to crush me, how I was going to wish I had never messed with him, how I didn’t know who the hell I was dealing with, and so on. One phrase I remember in particular was, “I am going to strip the bark off of you!” It came totally out of the blue and it was like being on the telephone with a metamorphosing werewolf – the whole performance genuinely freaked me out. I may even have peed a little, I can’t remember.

Now, ask yourselves this: are you or are you not glad that this guy seems to be on our side?

The hitman: Tim Geithner

I just realized what has been nagging at the back of my mind about the creepy demeanor of Treasury Secretary Geithner. He has the affectless expression of a hitman, but he is a special kind of hitman. Like John Perkins, the author of “Confessions of an Economic Hitman,” Geithner was hand-picked for his willingness to execute the instructions of a powerful elite – no matter what the consequences for ordinary citizens.

Consider Geithner’s career progression. Wikipedia gives us the key early dates:

After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C., for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He went on to serve as an attaché at the US Embassy in Tokyo. He was deputy assistant secretary for international monetary and financial policy (1995-1996), senior deputy assistant secretary for international affairs (1996-1997), assistant secretary for international affairs (1997-1998)

Nobody in the press pays any attention to Geithner’s early years, but these were the years in which he became a made man in the service of the US Plutocracy. In 1985, when he joined Kissinger and Associates, Henry Kissinger’s reputation had been badly discredited by reports of his involvement in numerous ugly international plots of the Nixon administration, including the bombing and destabilization of Cambodia, the murder of Allende in Chile, and dirty dealings backing the Argentine dictatorship. Ask yourself what kind of well-informed Dartmouth graduate would join Kissinger Associates. The answer is an aspiring hitman.

Like Perkins, Geithner’s ambition knew no moral bounds, and he was determined to make himself useful to the wealthy and powerful. Having established his bona fides at Kissinger Associates, he rose rapidly in Government “service,” with the backing of Kissinger-connected godfathers and patrons, and always accumulating greater influence in preserving the wealth of the people who run the world. As president of the NY Fed, he was at the center of decisions that transferred huge amounts of taxpayer wealth into the hands of failing banks and financial firms. As Treasury Secretary, he continues to protect the strong against the weak and the wealthy against the poor. He has been a safe pair of hands for the Plutocracy, and for this loyal service he will be richly rewarded.

Tim Geithner was not made Treasury Secretary by President Obama. He was installed by America’s permanent government: the Plutocracy.


Rise & Fall Of The US Dollar: 1800 – 2008

Sean W. Malone, Saturday, August 29, 2009 at Logicology

click the image to view full size

so you can read the notes on it

(you may have to click it again to magnify it once you have the large image open)

Ben Bernanke Saved Whose World? Pt 2: Racketeering 101

On the Edge with Max Keiser and Stacy Herbert – – – August 28,2009

Ben Bernanke Saved Whose World?

Secrets Of The Federal Reserve

President Obama has re-nominated Ben Bernanke to sit as Chairman of the Federal Reserve for another four-year term, following glowing praises of Bernanke’s supposed financial genius in most of the media for his handling of the current economic crisis, while Obama himself has suggested that Bernanke helped save the US from another Great Depression.

Paul Amery commented the other day at Seeking Alpha that:

Federal Reserve Chairman Ben Bernanke’s speech to the Jackson Hole symposium, delivered on Friday, has already been dubbed a “we saved the world” declaration by some commentators.    

In fairness to Bernanke, nowhere in his remarks does he make such a grandiloquent claim, unlike British Prime Minister Brown, who did just that last December in the U.K. parliament.

However, underlying Bernanke’s narrative of events is the U.S. central bank’s conviction that the panic that hit global markets last fall was a kind of act of God, a phenomenon that was “collectively irrational”, and which the Fed contained by its policy of “lending freely against sound collateral.”

Is this fair, or does Bernanke’s speech signify that U.S. policymakers have understood nothing and learned nothing?


Bernanke asserts in the final paragraph of his speech that “we have avoided the worst”. He may be right, but I wouldn’t bet on it. I’m more inclined to agree with Willem Buiter, who wrote recently in the Financial Times that “[t]he US Treasury, the Congress, the Fed and the other financial regulators have, through their behaviour since August 2007, confirmed and re-inforced the incentives for excessive risk taking by crossborder banks and any other financial institution deemed too systemically important to fail. The groundwork for the next financial boom and bust cycle, worse than what we are just emerging from, has been put in place.

So exactly whose world has Bernanke “saved”, if anyones?

WTFF?? The Fed is trading in derivatives????

What the fucking fuck???  Say it ain’t so!

Zero Hedge is reporting that the Fed has been betting its shit on the big crap table.

One-point-some-odd trillion in March alone.

Box cars working, people.


If true, this is government on drugs, flying saucer, four-way-window-pane.

60-70% of stock volume is “Ficticious”. One way or the other, we’re screwed

     Crossposted at Daily Kos

hat tip to Inky99 who covered this first in his diary Stock market “Rally” is bogus, volume in market “ficticious”. I thought this subject was so pertinent it need to be expanded on.  

   From Bloomberg News, Joe Saluzzi, on July 6th, 2009

Saluzzi:     ” The volume that you see during the day right now, somedays as high as 12 million across all three exchange, is ficticious. It’s not real, okay. I’m gonna say that 60-70% of this volume that you see coming across, it’s volume, but it’s done by what is called high frequency traders. These are machines. The biggest machine wins the game.”

    More on how we are totally screwed one way or the other below the fold.

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