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Posts Tagged ‘Federal Reserve’

Federal Reserve Governors Comments from 2007

Posted by Larry Doyle on January 18th, 2013 7:12 PM |

If anybody thinks that the governors of the Federal Reserve have any degree of foresight on the economy, the following transcripts from 2007 are a MUST read. One governor, (yes one and it was not Ben Bernanke), displayed real foresight and expressed real concern on what likely lay ahead on our economic landscape. Who was it? The one I recently highlighted as calling for the breakup of our TBTF megabanks. That would be Dallas Fed governor Richard Fisher.

After reading this release provided by the WSJ, you may doubt the Fed’s collective capability in managing the economy.

(more…)

Making Sense of The Skyrocketing Cost of Gasoline

Posted by Larry Doyle on September 17th, 2012 7:33 AM |

I guess I could write this morning about the NYSE being fined by the SEC for facilitating front running. I could also offer more commentary on global banking institutions that now seem to realize a little thing called “reputation” actually matters. Perhaps I could offer insight on how the Fed’s recently announced “QE-infinity” is directed as a further bailout of the banks and the red-headed stepchildren commonly called Fannie and Freddie.

But let’s put those topics off for another time. Today, let’s address why your wallet is significantly lighter every time you go fill your vehicle’s tank.  (more…)

R. Wenzel Further Exposes the Federal Reserve

Posted by Larry Doyle on May 7th, 2012 4:49 AM |

“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.” Thomas Jefferson, U.S. President.

A week or so ago thanks to a regular reader, I highlighted an amazing speech given inside the New York Federal Reserve by Robert Wenzel, editor and publisher of the Economic Policy Journal.  Wenzel took the Fed to the cleaners in his remarks which I welcomed highlighting in writing R. Wenzel: Federal Reserve An Unmitigated Failure.

Wenzel is certainly one of very few who have ventured into the inner sanctum of the Fed, laid it to waste, and then been able to talk about it. What more might this financial Indiana Jones have to say about the all powerful Federal Reserve?  (more…)

Is JP Morgan Fronting for the Fed?

Posted by Larry Doyle on April 13th, 2012 9:09 AM |

UPDATE: This commentary written in mid-April 2012 should be read in conjunction with the following:

May 14th Review: Bloomberg Bombshells re: JP Morgan $2B Loss

May 12th review: $2B Loss? What Went Wrong at JP Morgan? 

May 11th review: JP Morgan Whale: “Thar She Blows”

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Reports are swirling around Wall Street and the global markets about massive credit bets on the books at JP Morgan.

A JP Morgan trader in London, Bruno Iksil, has been nicknamed ‘the whale’. Iksil reports ultimately to Achilles Macris, JPM’s chief investment officer in Europe and Asia. Bloomberg had an interesting discussion this morning about Iksil, Macris, JPM, and these positions. Let’s watch and learn… (more…)

Land of the Free’dom’of Information?

Posted by Larry Doyle on April 2nd, 2012 5:53 AM |

Freedom makes all things possible, right? No question.

Information is everything, correct? Also true.

As we pursue the American dream, our ability to access information in order to assess risks and opportunities is paramount to our ultimate success. I personally find this truth to be self-evident. Melding these two basic principles, at this point in our nation’s history, how free is information? Obviously, not all information is free and accessible. In matters of national security, our interests are served by protecting plenty of information.

However, what about other basic information in regard to Uncle Sam’s interactions and exchanges on Wall Street?  (more…)

The Eerie Silence Surrounding Wall Street Price Fixing

Posted by Larry Doyle on March 6th, 2012 8:48 AM |

Shhhhhhhh………

What is that eerie silence emanating from Wall Street lately? No, it’s not the quiet on the floors of the equity exchanges in the midst of anemic trading volumes. It is also not the empty echoes emanating from trading desks once bursting with activity.

The eerie silence to which I allude goes to the price fixing at the very core of how our Wall Street banks fund themselves in the overnight market. Sounds ominous, no? Let’s navigate and enter the world of Libor based funding. What is Libor? ……………….. (more…)

Book Review: Reckless Endangerment: A Wall Street-Washington Incestuous Legacy and A MUST READ

Posted by Larry Doyle on January 21st, 2012 3:33 PM |

Years from now when people study what led to the greatest economic crisis since the Great Depression, they will have plenty of material to review. This is good.

Unlike our current era in which we clearly failed to learn from past crises, I hope future generations will not only study what led to our current crisis but then actually do something so it is not repeated. We have yet to begin that process.

On that note, let’s start right now to save our collective future. How so?

If we are to save our future, then let’s be brutally honest about our past and our present(more…)

Fed’s White Paper on Housing: Uncle Sam a Landlord? Obama’s Plans for Re-Election?

Posted by Larry Doyle on January 5th, 2012 9:58 PM |

Housing and labor remain the cornerstones of our economy. In fact, the health of our labor market follows that of housing just like night follows day.

The near term prospects for both housing and labor remain decidedly challenging. The success of assorted federal programs to support housing so far have obviously been underwhelming.

That said, there are rumblings emanating from Washington that the Obama administration may end run Congress while unilaterally launching a massive program to support housing via Freddie/Fannie orchestrated refinancings.

Will this program be the ‘rabbit’ which Obama and team pull to prop the economy and their re-election chances in 2012?  (more…)

The Federal Reserve Comes Clean

Posted by Larry Doyle on August 10th, 2011 5:47 AM |

Federal Reserve System imagesHave you ever officially read a Federal Reserve statement?

Many market participants rip apart Fed statements within seconds of release looking for key words or phrases to decipher the path of future Fed policy.

Often reading a Fed statement is like reading a Tarot card as the ‘great and all powerful Fed’ provides sufficient obfuscation in order to cover a whole slew of bases.

Yesterday’s Federal Reserve statement struck me as far different from those in the past as it left very little to interpretation. (more…)

Will There Be a QE3?

Posted by Larry Doyle on March 28th, 2011 7:56 AM |

Is there really any doubt that virtually all our markets, especially commodities and with the exception of real estate, have been propped higher as a direct or indirect result of the Federal Reserve’s policy of quantitative easing? I have no doubt.

The question remains outstanding just how far the Fed, in concert with its banking friends on Wall Street, has gone and will go to further manipulate our markets. That question may never be fully answered. What a shame! For those who believe a preponderance of truth, transparency, and integrity are the cornerstones for long term fiscal health and financial well being our markets remain a decidedly challenging arena.

In light of this reality and with the end of QE2 on the horizon this June, where do we go from here? A reader posed that very question the other day. (more…)






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