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Pam and Russ Martens: The NY Fed's incestuous relationship with JPMorganChase
Dangerous Liaisons: The New York Fed and JPMorgan's Incestuous Relationship
By Pam and Russ Martens
Wall Street on Parade
Wednesday, November 6, 2019
The Federal Reserve Bank of New York is just one of the 12 regional Federal Reserve banks around the country. But it has amassed enormous powers for itself since the Federal Reserve was created in 1913. Three of those powers dwarf all others: the ability to create money electronically at the push of a button; the accepted right to meddle in the markets; and the supervision of some of the largest bank holding companies in America.
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Great Bear Drills New Near-Surface High-Grade 'Yauro Zone' Discovery at Dixie:
10.32 g/t Gold Over 18.20 m, 5.60 g/t Gold Over 25.25 m, and 16.60 g/t Gold Over 6.00 m
Wednesday, October 30, 2019
VANCOUVER, British Columbia, Canada -– Great Bear Resources Ltd. (TSX-V: GBR) today reported new results from its ongoing, fully-funded 90,000-metre drill program at its 100%-owned Dixie project in the Red Lake district of Ontario.
Three new gold discoveries have been made and drill results disclosed in this announcement are from the following zones along the LP Fault: Yauro (new zone), Viggo (new zone), Bear-Rimini, Northwest of Bear Rimini; and along the North Fault (new zone), which runs parallel to the LP Fault. ...
Results include: 32 g/t gold over 2.65 metres and 21.33 g/t gold over 3.30 metres, within a wider interval of 5.14 g/t gold over 37.40 metres; 30.66 g/t gold over 3.45 metres, within a wider interval of 5.60 g/t gold over 25.25 metres; and 35.96 g/t gold over 1.73 metres, within a wider interval of 2.01 g/t gold over 66.20 metres. ...
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After Wall Street blew itself up under the indulging and incompetent supervision of the New York Fed in 2008 and it was exposed that the Fed had secretly created $29 trillion in electronic money to bail out zombie banks -- most of that funneled out by the New York Fed -- most rational folks would have assumed that Congress would have stripped it of supervisory and money-printing powers for bailouts.
Insanely, that did not happen and here we are today with the same deeply-conflicted New York Fed creating its own money to dole out $690 billion a week in super-cheap loans to unnamed securities firms while buying up $60 billion a month in the debt of the United States. (The Fed doesn't want you to call the $60 billion a month QE4 because that would strongly suggest that this is just Stage II of the continuing 2008 bailout of Wall Street and that QE-Infinity is coming.)
In addition to the unprecedented power that the New York Fed has grabbed for itself, it has a strange, incestuous, and unexplained relationship with JPMorganChase. ...
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