Video: Dylan Ratigan breaks down the Federal Reserve as a racket

April 16, 2010 by · 1 Comment
Filed under: Videos 

Dylan Ratigan has been doing good journalism lately, really taking time to educate people on issue about money and how our high level financial system works.  This video is not exception.  You may think he is too opinionated in the clip but if you fact check what he is saying and take an unbiased view of what is actually happening in operation you will see that we do not have control over our own money and the people who do have the interests of the banks first and then the American people.

In my opinion,  our country was founded so we could get rid of any outside control and self-govern as a independent republic.  Things will change because the system we have setup up is not sustainable.

ENJOY!

Fed to exit mortgage-backed security market today

April 1, 2010 by · Leave a Comment
Filed under: Real Estate News 

This is positive news.  The more we see these government programs winds down and their assistance not being there to support for the U.S. housing market, the more we will see if this is a real recovery or a head fake.   The market has run up in the last few weeks so we are going to continue more impressive earnings and growth to get everyone back into growth and investment mode.  Like I said, this is a good first step.

Bloomberg – The end today of the Federal Reserve’s unprecedented buying of mortgage securities won’t have much effect on the market, BlackRock Inc.’s Curtis Arledge said.

Yields on agency mortgage securities relative to benchmark rates will likely widen “a bit” and become more volatile after the Fed’s exit, though probably won’t expand more than 0.2 percentage point, Arledge, chief investment officer of fixed income at New York-based BlackRock, said today in an interview with Bloomberg Television.

“It’s been one of the more telegraphed changes we’ve seen in a long time,” said Arledge, who oversees about $590 billion at the world’s largest money manager. “The marketplace has positioned itself for the Fed to be absent.”

The Fed’s $1.25 trillion of purchases in the $5.4 trillion market of securities guaranteed by government-supported Fannie Mae and Freddie Mac or federal agency Ginnie Mae helped drive yield premiums to the lowest on record, which they remain near by some measures as the program ends.

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Fed keeps key interest rates steady despite board member’s disapproval

January 27, 2010 by · Leave a Comment
Filed under: Economic News 

Interesting they are still keeping interest rates low for an “extended period” even though we are in a recovery.  They must know something we don’t.  They called the recovery moderate for sometime and that tells me that the earnings will not keep up  with where the market is priced so we should see a correction.

LA Times – Washington D.C. – Reporting from Washington – Amid the political rancor over Federal Reserve Chairman Ben S. Bernanke’s bid for a second term, central bank officials encountered some dissension in their first policy-setting meeting of the year, even as they affirmed their pledge to keep interest rates at near zero for “an extended period.”

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The Federal Reserve Made $52 Billion In 2009

January 12, 2010 by · 1 Comment
Filed under: Economic News 

The Federal Reserve reaped quite a nice reward for its rescue efforts during the financial crisis. According to its preliminary unaudited 2009 results, the central bank made a whopping $52.1 billion in profit. Somewhere, Ron Paul’s blood is boiling. But before populist outrage at these profits take hold, let’s consider a few things.

First, the vast, vast majority of these profits are going back to taxpayers — $46.1 billion. As the release says:

Under the Board’s policy, the Reserve Banks are required to transfer their net income to the U.S. Treasury after providing for the payment of statutory dividends to member banks and equating surplus to paid-in capital.

Those statutory dividends were $1.4 billion, while the surplus capital was $4.6 billion. Taxpayers get the rest.

So the first point is that taxpayers actually benefit from the Fed’s profits. A lot. They got 89% of its net income. As a taxpayer, I’m pretty happy about that.

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Video: DeMint amendment to audit Federal Reserve blocked by Senate leadership

July 10, 2009 by · Leave a Comment
Filed under: Videos 

Editor’s Note: Watch this video if you would like to see what is happening to the “Audit the Fed” bill that has been co-sponsored by over 50% of the U.S. House of Representatives.  It looks like the Senate is using “Rule 16” to stop this amendment to the bill even when the same Senate has language in the same bill that violates the same rule they are using to stop this amendment.  Oh the hypocrisy.

Video:

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