Old Project Avalon Forum (ARCHIVE) - View Single Post - HR 1207 UPDATES "The Federal Reserve Transparency Act"

peaceandlove · 09-28-2009, 04:07 AM

SEE Previous Post for full webstream of Fed hearing.

Post-HR1207 Hearing: Out The Fed!

Sunday, September 27. 2009
Posted by Karl Denninger

VIDEO (7:50): http://www.youtube.com/watch?v=fUmsY...layer_embedded

The link to the "obvious insider trading" ticker containing the chart referenced.... http://market-ticker.denninger.net/a...-The-Cops.html

And the Fannie/Freddie disclaimer:

Notice the explicit disclaimer: http://market-ticker.denninger.net/uploads/Fannie.png

Not only is Fannie paper NOT full faith and credit but in addition THEY ARE EXPLICITLY DISCLAIMING AGENCY STATUS!

This is on the face of EVERY Fannie (and Freddie) prospectus. All of them. So where is the authority of The Fed to buy this paper, given the constraints in Section 14? http://www.federalreserve.gov/aboutthefed/section14.htm

Who is The Fed bailing out by monetizing Fannie and Freddie paper when it is quite clear on the face of that prospectus and a clean read of Section 14 that they don't have the authority to buy that paper in the first place?

Now do you understand why The Fed doesn't want to be audited? And why we get threats about "disruptions" if, in fact, The Fed is audited?

SOURCE: http://market-ticker.denninger.net/a...-The-Fed!.html

The Horrible Conundrum Facing The Fed

Friday, September 25. 2009
Posted by Karl Denninger in Federal Reserve

The Fed's continued policy pronouncements that: http://www.federalreserve.gov/newsev.../20090923a.htm

The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.

has set up a completely-untenable position for The Fed and the greater economy.

The problem The Fed and America faces is that this latest "blast of the liquidity firehose" is not limited to The United States in its impact.

Indeed, the problems that this sort of "monetary policy" generates have almost nothing to do with the US Economic picture - rather, they have everything to do with the international nature of markets and monetary flows and the impact that such a policy pronouncement has on them.

Continues: http://market-ticker.denninger.net/a...g-The-Fed.html

09-28-2009, 04:07 AM	#141
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 UPDATES "The Federal Reserve Transparency Act" SEE Previous Post for full webstream of Fed hearing. Post-HR1207 Hearing: Out The Fed! Sunday, September 27. 2009 Posted by Karl Denninger VIDEO (7:50): http://www.youtube.com/watch?v=fUmsY...layer_embedded The link to the "obvious insider trading" ticker containing the chart referenced.... http://market-ticker.denninger.net/a...-The-Cops.html And the Fannie/Freddie disclaimer: Notice the explicit disclaimer: http://market-ticker.denninger.net/uploads/Fannie.png Not only is Fannie paper NOT full faith and credit but in addition THEY ARE EXPLICITLY DISCLAIMING AGENCY STATUS! This is on the face of EVERY Fannie (and Freddie) prospectus. All of them. So where is the authority of The Fed to buy this paper, given the constraints in Section 14? http://www.federalreserve.gov/aboutthefed/section14.htm Who is The Fed bailing out by monetizing Fannie and Freddie paper when it is quite clear on the face of that prospectus and a clean read of Section 14 that they don't have the authority to buy that paper in the first place? Now do you understand why The Fed doesn't want to be audited? And why we get threats about "disruptions" if, in fact, The Fed is audited? SOURCE: http://market-ticker.denninger.net/a...-The-Fed!.html The Horrible Conundrum Facing The Fed Friday, September 25. 2009 Posted by Karl Denninger in Federal Reserve The Fed's continued policy pronouncements that: http://www.federalreserve.gov/newsev.../20090923a.htm The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. has set up a completely-untenable position for The Fed and the greater economy. The problem The Fed and America faces is that this latest "blast of the liquidity firehose" is not limited to The United States in its impact. Indeed, the problems that this sort of "monetary policy" generates have almost nothing to do with the US Economic picture - rather, they have everything to do with the international nature of markets and monetary flows and the impact that such a policy pronouncement has on them. Continues: http://market-ticker.denninger.net/a...g-The-Fed.html Last edited by peaceandlove; 12-16-2009 at 09:45 AM.