Our Gold Guy
No Result
View All Result
Friday, March 24, 2023
  • Home
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us
Our Gold Guy
  • Home
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us
No Result
View All Result
Our Gold Guy
No Result
View All Result
Home Economy

You’ll Be Shocked to Learn There’s Corruption at the Fed

by Ryan McMaken
September 17, 2021
in Economy
You’ll Be Shocked the Learn There's Corruption at the Fed

Fed Chaiman Jerome Powell has decided the Fed ought to “review” its ethics policies after it was revealed that high-ranking personnel at the Fed were actively trading stocks even as the Fed was busy pulling the levers on monetary policy.

CNBC reported today:

Federal Reserve Chairman Jerome Powell directed staff to review the central bank’s ethics rules for appropriate financial activities after disclosures that several senior central bank officials made multiple multimillion-dollar stock trades in 2020, while others held significant investments. …

Last week, financial disclosures filed by the Fed’s 12 regional presidents revealed some had actively traded in 2020, while others held million-dollar financial positions without making changes to their portfolios.

Specifically, Dallas Fed President Robert Kaplan made numerous trades worth $1 million or more last year. Meanwhile, Boston Fed President Eric Rosengren last year was making large trades in real estate investment trusts, possibly in the six-figures range.

IRA BERSHATSKY LOVES AMERICA – Most precious metals companies are run by wokesters. Ira’s is not. He is unabashedly AMERICA FIRST and can help you move wealth or retirement to physical precious metals with a gold or silver IRA, or just get metals discreetly shipped to your door. Contact him now.

The problem here is obvious to any normal person who watches the Fed.

The Fed is not just an instrument of monetary policy, but a regulator of financial institutions. The Fed regulates bank holding companies, foreign banks working in the US, hundreds of state members banks, and other institutions as well. This gives Fed policymakers an enormous amount of control over the fortunes of many financial institutions.

Moreover, Fed policy can be—and these days, usually is—instrumental in pushing up stock prices and real estate prices through monetary inflation. Since the Great Recession—and arguably since the late 1980s with the “Greenspan put”—the Fed has been instrumental in subsidizing stock prices through an implied promise that the fed will rush to the rescue if financial markets face and real risk of a falling prices. Since the Great Recession especially, the Fed’s unconventional monetary policy has means the Fed has sucked up trillions of dollars in bonds and mortgage debt. This means both a direct subsidy of real estate investments and also—as Fed asset purchases push down interest rates—a flight to yield in the stock market.

Not surprisingly, we can see a clear correlation between the Fed’s easy money policy and a supercharged stock market.

The information available to these regulators and policymakers also provides an enormous amount of insider information not available to outsiders.  So, perhaps, Fed officials should divest themselves of their stock and real estate portfolios, at the very least?

For Rosengren and Kaplan, however, this is crazy talk since both men insisted their actions were “consistent with their respective bank’s code of conduct policies.” This may very well be true, although this only illustrates how the Federal Reserve System is soft on potential corruption within the ranks of its leadership.

After all, Rosengren and Kaplan only offered to sell their holdings after a public scandal broke out.

Non-Fed personnel were less sanguine on the issue. As the Wall Street Journal reported:

Mr. Kaplan’s trading “should be a scandal,” said Professor Peter Conti-Brown of the University of Pennsylvania, an expert on the structure of the Federal Reserve. “If he’s making directional bets on interest rates, we will not be able to tell if he’s advocating for policies for the public good or talking his book. It’s a fundamental conflict of interest.” Mr. Conti-Brown also said that the perception that Mr. Kaplan could personally profit from his Fed role feeds into longstanding skepticism of the Fed held in some corners.

Kathryn Judge, a law professor at Columbia University, said Fed officials “are privy to all kinds of information that has the potential to move markets.” While Mr. Kaplan may have followed the letter of the code, she said it is unclear if he followed the spirit.

Our Gold Guy America First

The position of Kaplan and Rosengren is typical for government officials—which is what Fed officials essentially are. This is also common in Congress: what matters is finding loopholes allowing the official to maximize his personal wealth, capitalizing on his ability to affect regulations and conditions that affect the prices of his investments. All that matters is that the lawyers say it’s okay.

It’s not surprising, of course, that Congress is chock full of millionaires. The Fed’s boards aren’t exactly populated by “regular folk.”

And this may be significant in helping us understand how Fed policy has been so lopsided in favoring the ultra-wealthy while imposing price inflation and a higher cost of living on people of more ordinary means. Fed policy has been extremely successful from the point of view of billionaires and hedge fund managers holding huge stock portfolios and real estate holdings. The prices just keep going up, and at rates that outpace official price inflation rates.

But for first-time home buyers, and the many millions of American workers who own few stocks? They just face higher prices for housing, education, healthcare, and now even food. Investing is out of the question because ultra-low interest rate policy makes traditional, conservative, low-risk investments (like savings accounts) basically worthless. Wholesale food prices are up 12.7 percent.

But Eric Rosengren has more than a million dollars to throw around. He’s doing fine.

Image by Unknown author, Public domain, via Wikimedia Commons. Article cross-posted from Mises.

The Biden Regime and Globalists Don’t Want You Owning Precious Metals

Look around. Things aren’t the way they should be. Between Pandemic Panic Theater, Ukraine, food shortages, and a push for Central Bank Digital Currencies, everything you’ve spent your life building and protecting is in jeopardy.

Precious metals are historically the most reliable and safest hedge against economic turmoil. With the Biden regime and globalists enhancing the chaos, it’s important for patriotic Americans to take control of their financial future.

Ira Bershatsky offers consultations to those who want to invest in precious metals. During these consultations, he will match your current financial situation with the best physical precious metal purchases whether you want to rollover your IRA or have coins discreetly shipped to your home. You will not talk to a telemarketer or sales rep. You will talk to a true expert in precious metals with decades of experience helping people protect and advance their wealth.

Fill out the form here and we will schedule a precious metals consultation with Our Gold Guy, Ira.

Schedule a Precious Metals Consultation Today:

Tags: CorruptionCrimeEconomyFederal ReserveMisesThe FedTop Story


Learn more about RevenueStripe...

Bypass Big Tech Censors



Our Gold Guy



MyPatriotSupply


Banks Melting

“The Banks Are Melting” and Signs of a Major Credit Contraction Are Already Starting to Emerge

March 24, 2023
Silicon Valley Bank and the Soft Pivot of Our Weak-Kneed Fed

Silicon Valley Bank and the Soft Pivot of Our Weak-Kneed Fed

March 24, 2023
Significant Number of Banks Will Fail Within 2 Years, Predicts CEO of Hedge Fund Giant

Significant Number of Banks Will Fail Within 2 Years, Predicts CEO of Hedge Fund Giant

March 24, 2023

Recent News

Banks Melting

“The Banks Are Melting” and Signs of a Major Credit Contraction Are Already Starting to Emerge

March 24, 2023

Search

No Result
View All Result

Site Navigation

  • Home
  • Contact Us
  • Finance
  • Business
  • Economy
  • Politics

About Our Gold Guy

This site is dedicated to helping Americans learn more about the economy, business, and politics. Our nation is in turmoil on all three fronts. We want to make a difference.

© 2021 NOQ Report

No Result
View All Result
  • Contact Us
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us

© 2021 NOQ Report

Session expired

Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

>