The Fed should be as independent as possible and for that to happen you can’t have elected officials have any power over them. The last thing we need is politicians meddling in Fed issues.
Yes there shouldn’t be any direct control but I don’t see anything wrong with having such hearings
The Federal Reserve is a cartel of bankers. Has anyone read The Creature from Jekyll Island?
The underlying purpose of the Fed is to steal wealth from the general population for the benefit of the bankers (Warburg, Rockefeller, Rothschild, Aldrich, etc and their families)
Think about how all fiat currencies have ended historically- with the general public holding wheelbarrows of worthless paper money, and the bankers end up owning real wealth via real estate, gold, and private companies.
And the whole QE program is a scam. The commercial banks own the Fed, yet the Fed bailed them out…? What company in history has been sucessfully and sustainably bailed out by a subsidiary of theirs?!
There will be no unwinding of the Fed balance sheet. If anything, the ECB, BOJ, and Federal Reserve will be bailed out by the World Bank/IMF. QE Infinity!
^Quite a few strong words you’ve used buddy!
It’s all fine with casting doubts over if, how and when the unwinding would happen - the bigger question IMO is how this would impact US govt debt (when rates start rising)- expected to rise to $21.6 tr by end of this year.
PS: Read somewhere today that US has been at war 93% of the time since independence.
i read the same about the DTCC
Bill puts it nicely…
I’m finding this type of resentment growing more and more within the common population. Read the comments on zerohedge, bloomberg, WSJ they’re all anti-fed anti-centralized government. Fairly frightening.
Too many people have drank the kool aid. Way too many. Think about what JPMorgan did with the railroad industry and think about the panic of 1907. Any similarities? And if the Fed is such a bad institution, would US be where it is today?
You can’t hide the numbers. The audit isn’t about Fed’s balance sheet. It is about putting the Fed on the spot light and messing with its independence. Which is very dangerous imo. Remeber, you can’t replace something that isn’t broken.
Eric Scott Hunsader @nanexllc · 11s 12 seconds ago
10am News could be interesting. There’s Zero liquidity
Speaking of the Fed, the recent strength in the dollar is making quite a few nervous there. The dollar increasing is the equivalent of tightening of monetary policy with inflation moving lower and further away from their target.
Oh well, was it completely unexpected? I think not - Draghi’s nervous as hell. USD=EUR ain’t that far. 5% to go!
Ultimately currency movements are the mechanism that monetary policy works through (my view). The strength of the US dollar is predicated on a couple increases by Janet this year. If she doesn’t kick the rates up a notch, USD will markedly weaken. Everything is already priced in. The expected June rate hike is already in action. This is why I’m not excitedly bullish USD.
So if you had to trade right now - you’d short USD?
I agree with geo, recent USD strength is a function of the US being the only developed country on the verge of raising rates. England next, but probably a year after the US. That said, I wouldn’t short USD because I think they will symbolically raise rates in either June or sept. So the long USD trade has little room to run.