's
MAGMA88 and 89 Dornier C-146A's departed Eglin AFB, FL 88 NW and 89 en
89 going to Ft. Bragg most likely, 88?…dunno yet
R01052 US Army C-560 sw from Newport News Int'l and on ground at Raleigh -Durham Airport while VENUS30 is finished and heading back to JBA
PAT337A US Army C-560 ne from Ft. Worth NASJRB
WING44 US Army C-560 se from Muskegon County Airport, MI after a ground stop
VENUS65 USAF G5 with a low altitude pass over at Myrtle Beach Int'l, SC
Belgian AF BAF99 Dassault Falcon 7X arriving and own the sidewalk from Brussels Airport
$340 Billion of the $454 Billion that Mnuchin Was to Turn Over to the Fed is Unaccounted For
President Donald Trump has been sacking federal watchdogs at the speed of a bullet train. In just a six-week period in April and May, the President fired five Inspectors General of federal agencies. In last Friday night’s coup d’état, Attorney General William Barr, acting as consigliere for the President, ousted the U.S. Attorney for the Southern District of New York, the federal prosecutor that oversees prosecutions of Wall Street banks in that district. The privately owned Federal Reserve Bank of New York, which is in charge of the bulk of the Fed’s bailout programs, also resides in that district.
Barr and the President want to put a man with zero experience as a prosecutor in charge of that office, Jay Clayton, who currently heads the Securities and Exchange Commission which has only civil enforcement powers. Clayton represented 8 of the 10 largest Wall Street banks in the three years before going to the SEC as a partner at Sullivan & Cromwell.
has not done jack squat while at the SEC too
According to data released this past Thursday by the Federal Reserve, the Treasury has turned over just $114 billion of the $454 billion that was allocated to the Fed by Congress. The Federal Reserve’s weekly balance sheet data release, known as the H.4.1, showed a line item titled “Treasury contributions to credit facilities” and it showed a balance of just $114 billion.
A footnote on the H.4.1 explained exactly which Fed bailout programs had received the money from the Treasury: “Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS [Main Street] Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.”
That leaves $340 billion of the $454 billion unaccounted for.
The President’s economic advisor, Larry Kudlow, explained at a press briefing before the signing of the legislation, why the Fed was to get this vast sum of money. The money would be used as equity investments by the Fed in Special Purpose Vehicles that would use the money as “loss absorbing capital,” meaning that taxpayers would eat the first $454 billion in losses. The Fed would then be free to leverage this money up by a factor of 10 to create $4.54 trillion in bailout programs. Both Powell and the Fed’s Vice Chairman for Supervision, Randal Quarles, have repeatedly stated to Congress in hearings that the recipients of these bailout programs would be transparent to the American people. Last Tuesday and Wednesday, Fed Chairman Powell made his semi-annual appearances before the Senate Banking and House Financial Services Committee.
But this is the Fed’s web page that shows the disclosures being made to Congress under the facilities that the Fed has designated as emergency lending facilities under Section 13(3) of the Federal Reserve Act.
https://www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm
There are 11 programs listed. Just three of the programs, or 27 percent of the total, have provided the actual transaction data showing specific loans to specific recipients.
Those programs are the Secondary Market Corporation Credit Facility, which has spent the bulk of its money buying up Exchange Traded Funds sponsored by BlackRock, the investment manager that the Fed hired to oversee the program; the Municipal Liquidity Facility which has made just one loan of $1.2 billion to the state of Illinois because the terms are so onerous in this program that is supposed to be helping state and local governments survive the pandemic shutdowns; and the Paycheck Protection Program Liquidity Facility, which provided $5.3 billion or 9 percent of its total outlays to a tiny New Jersey Bank that has been cited by the Federal Deposit Insurance Corporation for “unsafe or unsound banking practices.”
But this list of 11 bailout facilities that the Fed is operating is hardly the full picture. On September 17, 2019 the Fed began making hundreds of billions of dollars a week in super low cost repo loans to the trading units of Wall Street’s mega banks. Those loans are ongoing and are currently being made at an interest rate of just 1/10th of one percent interest. Since September of last year, the Fed has made more than $9 trillion cumulatively in these loans. It has not announced one scintilla of information on what specific Wall Street firms have received this money or how much they individually received.
The Fed has also made multiple loans through its Discount Window to Wall Street banks.
moar here
https://wallstreetonparade.com/2020/06/340-billion-of-the-454-billion-that-mnuchin-was-to-turn-over-to-the-fed-is-unaccounted-for/
angry that this is what we've been forced to accept.
Live in CA so see it all the time.
>because cancer spread slowly, and must be stopped before it is too late.
this x10
BH303 US Navy P-3 Orion off SoCal Coast
tyb