Assets up 391% under Bernanke…
Today, the transfer of power from one “dear leader” to the next is official: Bernanke is out, and the new Yellen era at the Fed begins today. As Bernanke hands the reins over to Yellen, he also leaves her with one of the most precarious financial situations in history. According to the latest figures, the Fed is now saddled under an unprecedented $4.1 trillion in total assets on its balance sheet, up 391 percent from $834.6 billion when Bernanke took over as chairman in February 2006.
This huge spike in asset purchases came in the wake of America’s 2008 economic crisis, in which the Fed began aggressively purchasing U.S. Treasury securities and mortgage-backed securities in an effort to stimulate the economy.
According to CNSNews:
“As of Feb. 1, 2006, when Bernanke took over as chairman, the Fed’s balance sheet indicated it owned $748,840,000,000 in U.S. Treasury securities. At that time, the balance sheet listed no mortgage-backed securities. As of Jan. 29, 2013, the balance sheet indicated the Fed owned $2,243,176,000,000 in U.S. Treasury securities and $1,532,224,000,000 in mortgage-backed securities.”
Under the current stimulus program, the Fed’s balance sheet is growing by an additional $65 billion each month through a combination of Treasury bonds and mortgage-backed securities. In recent weeks, however, the Fed has sought to slow the growth of these asset purchases through “tapering.”
Despite Bernanke’s exit and Yellen’s entrance, our position on the Federal Reserve and its reckless monetary policies have never been more clear: The Federal Reserve is a fraud. It not “federal” and it has no “reserves.” It is an appalling collusion of global banking interests with the tax-payer funded government.
The Fed is a leach upon the American economic system. It is an extraneous middle man. The Constitution originally delegated currency production to the Congress itself. No outside private banks were to be given this job. As it reads in Article I, Section VIII of the U.S. Constitution:
“The Congress shall have Power… To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”
Since its inception 100 years ago, the Fed has systematically attacked the U.S. Dollar, destroying its value by over 90%.
Never again should our nation be held hostage by globalist banksters to whom interest must be paid on our own currency.
It’s time to end the Fed.
What happens if the pipeline is approved or rejected?
Wal-Mart Stores warned Friday that cuts to the nation’s food stamps program late last year will hurt its bottom line.
Fears are growing that the build-up of foreign borrowing by the Chinese, particularly in US dollars, is creating an even greater build-up of risk than that seen before the crisis of 2008.
“The banking sector has extended $14 trillion to $15 trillion in the span of five years… There’s no way that we are not going to have massive problems in China.”
Greece may face a financing gap of up to €15bn over the next two years.
The dollar had its biggest monthly gain against a basket of peers since May as a global selloff of emerging-market currencies prompted investors to seek the relative safety of haven assets.
The suicide in the U.S. follows a bizarre series of deaths among finance workers and business leaders this past week.
To be assured of having enough money to fund a comfortable retirement, you should save a total of 22 times the annual income you want to earn when you retire.
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Bill O’Reilly sits down with President Obama at the White House to discuss the IRS scandal, Benghazi, the Affordable Care Act and the Super Bowl.
This weekend, a top commander of Iran’s Revolutionary Guards boasted that his forces have plans in place to attack the U.S. from within, should the U.S. attack Iran, saying: “We will conduct such a blow in which they [America] will be destroyed from within.”
Seeking to mend a frayed relationship with a major American ally in the Middle East, President Obama plans to travel to Saudi Arabia next month for a meeting with King Abdullah.
For the first time in memory, the GOP has no obvious early favorite — no candidate with wide appeal who has run before, no incumbent president or vice president, no clear establishment pick.
North Korea steps up the angry rhetoric, urging the U.S. and South Korea to cancel a major military exercise due to begin next month.
Over the weekend, U.S. Secretary of State John Kerry called for a “transatlantic renaissance” in which the United States and Europe will jointly tackle shared threats, from wars and poverty to climate change.
Despite the slump, seven US companies remained amongst the world’s top ten entities in terms of 2012 arms sales, with Lockheed Martin emerging at top.
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“Archiving the Rise of Big Brother, the Erosion of Personal Liberty, and the Fall of the Republic”
The bizarre episode in the basement of the Guardian’s London HQ was the climax of Downing Street’s fraught interactions with the Guardian in the wake of Snowden’s leak – the biggest in the history of western intelligence.
The law states that any act that “undermines” the state or society, including calls for regime change in Saudi Arabia, can be tried as an act of terrorism.
Still no word on how the attack occurred…
China has forced another foreign correspondent to leave the country, the latest in a series of expulsions that have heightened tensions between western media companies and the Communist Party.
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