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While incomplete, records show that JPMorganChase is the New York Fed

Section: Daily Dispatches

1:57p ET Thursday, August 1, 2019

Dear Friend of GATA and Gold:

Wall Street on Parade's Pam and Russ Martens today delve into the intimate relationship between the Federal Reserve Bank of New York and JPMorganChase & Co., the latter having been commissioned as the New York Fed's agent in rescuing the investment bank Bear Stearns in 2008 with billions of New York Fed money.

... Dispatch continues below ...


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Many of the details of the New York Fed's bailout transactions, the Martenses write, remain secret, though a federal court case has already determined that this stuff should be disclosed.

The Martenses' report is another indication that for all practical purposes JPMorganChase is the New York Fed -- whether dealing in bailouts or the gold and silver markets.

The report is headlined "Bernie, It's Time to Audit the New York Fed" and it's posted at Wall Street on Parade here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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