tyb's
>>8290566, >>8291046, >>8291058, >>8291075, >>8291164 lb President Trump's tweets news decodes
specifically >8291046
there is a section in the Federal Reserve Act, Section 10.2, that says the president can remove the Fed Chair for cause, not policy views. It's obscure and does not expressly say what reasons it can be used for.
"…thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.”
https://www.federalreserve.gov/aboutthefed/section10.htm
This law was put into place in the 1940s after President Roosevelt had fired a board member of the Federal Trade Commission for not sharing the same public policy views. This firing was overturned by the Supreme Court on the basis that it was not a firing for cause. It was a unanimous decision. The FTC was put in to place in 1914.
"The Federal Trade Commission was created on September 26, 1914, when President Woodrow Wilson signed the Federal Trade Commission Act into law. The FTC opened its doors on March 16, 1915".
https://www.ftc.gov/es/about-ftc/our-history
It's not something that can be used as a response to a policy disagreement-like not lowering interest rates-it has to be used in cases of criminality. Since Mr Powell was at the helm as the latest Repo process was re-started in Sept 2019-and discussed/approved at the annual confab in Jackson Hole-July 2019, he and most of the upper management including the Vice -Chair Randall Quarles is/are complicit-but it does not stop there. These programs are in response to interest rates dropping. See Cap#2. They have always had a 10 year boom/bust cycle that culminated in overall interest rates being raised at the end of that cycle. This is why they are drowning in non-performing assets as the rates have not gone up to compensate for the massive amounts of paper that the primary dealers must buy at Treasury auctions to remian in status as a primary dealer.
https://www.newyorkfed.org/markets/primarydealers
cap#3
and when you have articles like this (below link) that are constantly cheer-leading for these programs to return (and by the this plant at WSJ) it set the stage for the the Return of the swaps of shitty debt for cash. Not a coincidence that article came out after Jackson Hole and just prior to th eofficial announcement of the latest trash for cash program (Repo's and Reverse Repo's)
from August 22, 2019-"we need this back"
https://www.wsj.com/articles/fed-should-continue-reverse-repo-program-jackson-hole-paper-1472310152
from September 18, 2019 "here you go"
https://www.federalreserve.gov/newsevents/pressreleases/monetary20190918a1.htm
They will not disclose who the counter-parties are (cough JP Morgan, Citigroup, Deutsche Bank etc- see attached cap for a complete list). Section 10.2 was placed in the Federal Reserve Act in order to placate people in to thinking that if something went wrong the elected President could legally remove any one person or persons resposnbile for causing it.
The real issue is the derivatives problem-massive amount of paper that are created to produce the results the the banking system wants to have. That is a nother discussion for a different day. See cap#4 for the most recent levels of derivatie amounts held at the big banks-should be getting an update on these backward looking numbers in mid- March from the Office of the Comptroller of The Curency, it will be found here:
https://www.occ.treas.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/index-quarterly-report-on-bank-trading-and-derivatives-activities.html
What they did not count on was someone actually using Section 10.2 it to it's full definition. Since most of the elected POTUS' have been controlled stooges after Lincoln, it became something that was never going to be utitilzed as they were already bought and paid for. Kennedy tried and rattled enough chains to get the response he got (RIP Sir)- I was born a few years after this habbened but have been on Mr Kennedy's "boat" since a very young age. Admiration for his attempts to remove this power structure doesn't even begin to describe it.
here is an article that sums up the discussions about Section 10.2 of Federal Reserve Act a
>https://www.forbes.com/sites/patrickwwatson/2018/09/06/how-trump-could-fire-powell-and-rebuild-the-fed/#5788974586c2
This can be applied to Jerome Powell, and any other Federal Reserve Officials that have acted in a criminal way-most of them imo. There are good people at the Fed…just not enough of them and not in high enough positions (numerically speaking) to effect real, sound monetary policies.
VENUS40 USAF G5 up from Patrick AFB and nw- this is the same call sign that did the fly-by's at Lexington Ky see cap #2,3 and the reference is Q clearance Patriots are purported to have an office just below this flight area
RSAF HZ103 G4 SE from Luton Airport London
CAL063 Airbus SE from Vienna to Taipei
Constellation Brands Equity sales since 2009
$867,399,020 sales vs $356,385 in buys
https://www.secform4.com/insider-trading/16918.htm
BREMR32 KC-135R Tanker out of Milwaukee Mitchell Int'l
tyb