Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Watch Senator Elizabeth Warren Explain in a 9-Minute Speech on the Senate Floor Today the “Culture of Corruption” at the Fed and How Powell Has “Failed as a Leader”

Courtesy of Pam Martens

After watching the video below, if you have further doubts, consider this: On August 7 of last year, Wall Street On Parade reported that Fed Chairman, Jerome Powell, was having private phone calls with BlackRock CEO, Larry Fink, while BlackRock managed upwards of $25 million of Powell’s personal money and the Fed awarded three no-bid contracts to BlackRock for emergency lending facilities.

One of those no-bid contracts allowed BlackRock to use Fed money to buy up corporate bonds and Exchange Traded Funds (ETFs) in the secondary market, including BlackRock’s own ETFs. American taxpayers’ money was used to backstop losses in these bailout facilities.

And while the individual stock-trading of Kaplan and Rosengren is indeed an outrage, it pales in comparison to what the New York Fed has been doing for decades.

On October 30 of last year, Wall Street On Parade reported that the New York Fed signed a contract with JPMorgan Chase on December 31, 2008 to serve as the sole custodian of the Fed’s holdings of agency Mortgage-Backed Securities (MBS). The contract was updated on January 30, 2017 and continues to this day. As of last month, JPMorgan Chase was holding $2.4 trillion (principal amount) in MBS backed by Fannie Mae, Freddie Mac or Ginnie Mae that belongs to the Fed.

During the term of that Fed contract, JPMorgan Chase has admitted to five felony counts brought by the U.S. Department of Justice. But, apparently, in the Fed’s view, serial criminal activity is not a reason to shop for a new custodian for $2.4 trillion in Fed assets.



Continue Here


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!