Reserve

Elizabeth Warren Claims Bitcoin is Fueling Climate Change, Supports Federal Reserve Creating a Crypto Instead (VIDEO)

Kooky Massachusetts Senator Elizabeth Warren told a Senate Banking Subcommittee that Bitcoin is fueling climate change. Warren called for the government to confront crypto threats “head on,” while saying a Federal Reserve-backed digital currency shows “great promise.” “Cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis,” she said during the…

BofA's Ugly Quarter: FICC Unexpectedly Slides, Bank Tries To Mask Weakness With Massive Reserve Release, Buyback

While nowhere near as ugly as Wells Fargo’s dismal results, moments ago Bank of America reported results that while beating on the bottom line, left quite a bit to be desired, mostly as a result of disappointing sales and trading results, particularly in FICC, which declined 5% “as weaker trading performance in macro products and…

World's Largest Muscle Car Collector Set To Auction 200 Rare Vehicles At No Reserve 

While current market euphoria has surpassed dot com levels, what is going on now is absolutely astonishing and gets crazier by the day. The on-going Federal Reserve’s QE purchases, plus all other major central banks, are plowing $1.3 billion into capital markets every 60 minutes since March.  And, of course, all this newly printed money has…

Federal Reserve Chair Jerome Powell Admits The Truth: “We’re Not Going Back To The Same Economy”

By Michael Snyder Even Jerome Powell is admitting that the boom years are over.  For months, I have been trying to explain to my readers that the debt-fueled “prosperity” that we were enjoying prior to the COVID pandemic won’t be coming back, and initially I received quite a bit of criticism for saying that.  But…

Ron Paul: The Federal Reserve is Getting Desperate

In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until…