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Pam and Russ Martens: New York Fed is keeping JPMorganChase's secrets

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Wednesday, December 18, 2019

The Federal Reserve Bank of New York seems intent on stonewalling Wall Street On Parade from receiving some very basic information on JPMorgan Chase's rapid drawdown this year on its liquid reserves at the New York Fed -- a matter that some on Wall Street have fingered as a contributing cause of the ongoing repo loan crisis. More on that in a moment, but first some background.

For the past decade Wall Street On Parade has been keeping close tabs on the crony operations of the New York Fed. The New York Fed has effectively morphed into a key cog in Wall Street's wealth transfer system -- where the little guy's pocket is picked daily in the service of minting billionaires on Wall Street -- who now increasingly want to rule the rest of us from the White House. ...

... For the remainder of the report:


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