tyb
it was notable this summer when the annual report came out. just because someone is late to the info and posts it on twatter doesn't make it notable now.
keep up
np B
concur.
Fed’s Balance Sheet Explodes by $413 Billion in 119 Days-and it keeps going
On September 4, 2019, the assets on the balance sheet of the Federal Reserve stood at $3.761 trillion. As of January 1, that figure is $4,173,626,000,000. That’s an increase of $413 billion in just the past 119 days and the Fed does not seem inclined to turn off its money spigot to Wall Street anytime soon. At the rate the Fed is now going, its balance sheet is likely to eclipse the $4.5 trillion all-time high it reached in 2015 as a result of the unprecedented sums it funneled to Wall Street following the epic financial crash in 2008 and its three rounds of quantitative easing (QE) to keep interest rates low to appease Wall Street’s trading houses and their trillions of dollars in interest-rate derivative bets. When Jamie Dimon, Chairman and CEO of JPMorgan Chase, testified to the Senate Banking Committee on June 13, 2012 about billions of dollars in derivative losses at his federally-insured bank, he had this to say about the major dangers facing his bank – the largest bank in the U.S. “There are two major risks that J.P. Morgan faced: dramatically rising interest rates and a global type of credit crisis. Those are the two biggest risks we face,” Dimon stated.
The Fed, through its open money spigot and trading arm – the New York Fed – has been a Fairy Godmother to Jamie Dimon. It has kept short-term interest rates at historic lows since 2008 and postponed the inevitable global financial crisis long enough to allow Jamie Dimon and his pals on Wall Street to become billionaires. The flipside of Jamie Dimon’s wish list has been to impoverish millions of retirees who have seen their interest income on Treasury notes and Certificates of Deposits cut in half for more than a decade and to fuel an unprecedented corporate debt bubble in the U.S. as a result of that cheap money.
Now, instead of the Fed winding down its latest money spigot that it opened on behalf of Wall Street’s trading houses on September 17, it appears to be gaining momentum. Yesterday, the $35 billion that the New York Fed provided to Wall Street in 14-day term loans was oversubscribed by $6.12 billion. On top of that, the New York Fed also pumped out $63.919 billion in overnight loans for a total of $98.919 billion – in just one day. The New York Fed’s latest money spigot has been in operation every business day since September 17 when overnight rates on repo loans spiked from an average of 2 percent to 10 percent. The New York Fed stepped in as lender-of-last-resort to bring the rate back down, despite the fact that this is clearly where the free market wanted to price these loans. Yesterday’s New York Fed loans were pumped out at the preposterously low rate of 1.55 percent interest.
Repo loans are typically made between Wall Street banks, hedge funds and money market funds. The New York Fed is making its repo loans available exclusively to its 24 primary dealers, which are, in fact, the primary trading houses on Wall Street. Many of these firms could not borrow in the open market at rates anywhere near 1.55 percent. So the New York Fed is essentially providing another bailout to Wall Street and calling it part of its “open market operations.” The New York Fed is just one of the 12 regional banks of the Federal Reserve system. But because it supervises the bank holding companies of two of the largest federally-insured banks in the country (JPMorgan Chase and Citigroup) and four of the largest Wall Street trading houses in the country (JPMorgan Chase, Citigroup, Morgan Stanley and Goldman Sachs) it has, over time, morphed into both a captured regulator and a captured bank vault.
What is remarkable about these super cheap loans to Wall Street at this time is that the Fed is simultaneously insisting that the Wall Street banks are in fine shape.
rest at link
https://wallstreetonparade.com/2020/01/feds-balance-sheet-explodes-by-413-billion-in-119-days/
PROWLER1/2 Apache AH.1 up NE of London.
were not visible for long.
you are correct methinks. they are not often switched on, like the f-16's yesterday.
much of his stuff does. when the last one came out that blackstar track wuz creepy. heard it first and thought it wuz just him winding people up about planet X or whatever you want to call it. then I saw the vid.
get over yourself. You must have a really shitty music collection
you seem not able to distance the product from the people that produce it.
gud luck