Discussion in 'Money, Investing & Precious Metals' started by Kwasar, Jun 25, 2010. Critics of the Federal Reserve won't be satisfied until the agency is shut down for good. WASHINGTON (Reuters) – The U.S. economy could benefit if the nation were to “lock down really hard” for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts. How Can we shut down the Fed today? The Federal Reserve on Thursday announced a plan to try to make loans available to states, localities and companies that have been hard hit by the coronavirus, pumping an additional $2.3 trillion into the U.S. economy. Not just a few billion but, unlimited. The central bank is partly drawing on money made available in the new $2.2 trillion economic relief package to buy municipal bonds as well as debt that did not previously qualify for federal backing. Donald Trump has vowed to abolish the Federal Reserve and reinstate the gold standard when he enters the White House in January. Viewed 611 times 1. It is an awesome response and just part of the picture of the money creation going on all over the world. According to Counterpunch, The federal reserve was just nationalized, meaning, “The Federal Reserve will be picking up the tab for this bonanza, at least to start.” So the Federal Reserve, as of March 2020, owned 14.6% of the US Treasuries (bonds) and Trump just forced them to buy up more. Powell said the Fed fully intended to use its powers “forcefully, proactively and aggressively until we are confident that we are solidly on the road to recovery.”. Why is the Government Accountability Office not allowed a full audit of the Federal Reserve? The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Jun 25, 2010 #1 . Powell said the Fed fully intended to use its powers “forcefully, proactively and aggressively until we are confident that we are solidly on the road to recovery.”. Why is there so little education about the Federal Reserve in the media, schools and universities? Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? USA Politicians to shut down the Federal Reserve. Ask Question Asked 2 years, 6 months ago. Do you have a story for The U.S. Sun team? Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? Shut Down the Federal Reserve? Credit: Federal Reserve. This post reeks of spambot. John Stones made my life hell after World Cup fame went to his head, says ex, Poundland shoppers blast festive till alert which left them 'humiliated', Mum of dead newborn baby discovered in Weston-super-Mare garden is found by cops, Dr told my parents I died but I was kidnapped & sold to another family, Piers Morgan appears to flout Coronavirus rules as he fails to wear mask in taxi, ©News Group Newspapers Limited in England No. Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said the U.S. needs to brace the economy and health care system for that length of time — until a coronavirus vaccine is ready. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? There is a systemic problem. Powell said there was “every reason to believe that the economic rebound, when it comes, can be robust” because the economy was doing well before the virus hit. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said Americans should prepare to be shut down for 18 months, A police officer is pictured Florida last week handing out unemployment benefit paperwork, more than 16.6 million people filed for unemployment in recent weeks, Independent Press Standards Organisation (IPSO). Because of coronavirus, the Fed's balance sheet has SKYROCKETED by over $7.2 Trillion for the first time in history. ... Trump should shut up about the Federal Reserve. Jun 26, 2010 #1 Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? One of Trump’s picks for the Treasury Department Secretary, John Allison, hinted that he will implement the gold standard when the … “It’s hard for me to see a V-shaped recovery under that scenario,” he said, after more than 16.6 million people filed for unemployment in recent weeks. Tweeting on the Federal Reserve, President Trump showed he has some delusional ideas about the economy. President Clinton vetoed the bill, the federal government shut down and the rest is history. He praised the Federal Reserve and its chair, Jerome Powell, for what he said was being "as aggressive as possible” amid the economic fallout of the pandemic. "He's learned from our experience in 2008 and the whole Federal Reserve is being as aggressive as possible.”, Kashkari, who oversaw the Troubled Asset Relief Program during the 2008 financial crisis, said Congress was also being “very aggressive.”, "It goes back to the progression of the virus," he said. View our online Press Pack. A PRESIDENT of the Federal Reserve says Americans should prepare for 18 months of shutdown and warned of “a long, hard road” ahead. Shut Down the Federal Reserve? The US Fed has major impacts on two areas of the economy: the banking sector, and monetary policy (aka the money supply). These are the times that try men's souls. It’s an independent government agency that was established through an Act of Congress. Federal Reserve Chairman Jerome Powell said Thursday he's worried policymakers won't have a complete picture of the US economy if the partial government shutdown persists. Why is there so little education about the Federal Reserve in the media, schools and universities? "Our chairman is being very, very aggressive," Kashkari said. Every morning we trade the US open with our live subscribers. The Federal Reserve and all the central banks in the world that are designed on its model are defrauding the people of the world. Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. This motto is alive and just as appropriate today as it was at the beginning of the Revolution. For other inquiries, Contact Us. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. The federal reserve pumping more money into the economy. The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant’s Interest Rate Observer, told CNBC. Active 2 years, 6 months ago. Shut Down the Federal Reserve "The band aids will not help the economic crisis. Powell said there was “every reason to believe that the economic rebound, when it comes, can be robust” because the economy was doing well before the virus hit. He told CBS on Sunday: “We could have these waves of flare-ups, controls, flare-ups and controls, until we actually get a therapy or a vaccine.”, “We need to find ways of getting the people who are healthy, who are at lower risk, back to work and then providing the assistance to those who are most at risk, who are going to need to be quarantined or isolated for the foreseeable future.”, Kashkari added: “This could be a long, hard road that we have ahead of us until we get to either an effective therapy or a vaccine.”. Who can shut down the Fed? The “Wall” is on the table and being negotiated. Hundreds of pupils missing after gang kidnap terrified boys at boarding school, ‘Four stabbed and one shot’ as Proud Boys clash with Antifa at protests, Man climbs on plane wing before falling onto tarmac in front of passengers, Infowars conspiracy theorist Alex Jones says ‘Biden WILL be removed', Mom’s boyfriend arrested after toddler dies from horrific head injuries, © 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Comments are subject to our community guidelines, which can be viewed, Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said Americans should prepare to be shut down for 18 months, A police officer is pictured Florida last week handing out unemployment benefit paperwork, more than 16.6 million people filed for unemployment in recent weeks. The Federal Reserve issued a notice on Monday saying the pandemic had "disrupted" the traditional circulation of coinage in the US. Let’s get one thing perfectly straight, the Federal Reserve is not a private bank! President Clinton vetoed the bill, the federal government shut down and the rest is history.Along comes John Tamny with a better, or at least more provocative, idea: Shut down the Federal Reserve. A PRESIDENT of the Federal Reserve says Americans should prepare for 18 months of shutdown and warned of “a long, hard road” ahead. The Federal Reserve balance sheet. Has the Federal Reserve any real socially redeeming value? By implementing the first stimulus bill, America's debt jumped from $21 trillion to almost $26 trillion. I'll leave it open, though, since I see some funny in here. Jun 2010 6. Why is the Government Accountability Office not allowed a full audit of the Federal Reserve? The government should again impose strict coronavirus-related lockdowns for a month or longer across the U.S. in order to boost the economy, a top Federal Reserve official said Sunday. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. A PRESIDENT of the Federal Reserve says Americans should prepare for 18 months of shutdown and warned of “a long, hard road” ahead. Email us at exclusive@the-sun.com or call 212-416-4552. Do you have a story for The U.S. Sun team? Kwasar New Member. He praised the Federal Reserve and its chair, Jerome Powell, for what he said was being "as aggressive as possible” amid the economic fallout of the pandemic. "He's learned from our experience in 2008 and the whole Federal Reserve is being as aggressive as possible.”, Kashkari, who oversaw the Troubled Asset Relief Program during the 2008 financial crisis, said Congress was also being “very aggressive.”, "It goes back to the progression of the virus," he said. Email us at exclusive@the-sun.com or call 212-416-4552. A PRESIDENT of the Federal Reserve says Americans should prepare for 18 months of shutdown and warned of “a long, hard road” ahead. “It’s hard for me to see a V-shaped recovery under that scenario,” he said, after more than 16.6 million people filed for unemployment in recent weeks. Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said the U.S. needs to brace the economy and health care system for that length of time — until a coronavirus vaccine is ready. Government Shut-Down/Federal Reserve Rate Decision President Trump has until Friday to negotiate the next round of government spending or face a partial government shut-down. The Federal Reserve on Thursday announced a plan to try to make loans available to states, localities and companies that have been hard hit by the coronavirus, pumping an additional $2.3 trillion into the U.S. economy. Shut Down the Federal Reserve? Why is there so little education about the Federal Reserve in the media, schools and universities? Federal Reserve Board announces extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31 "Our chairman is being very, very aggressive," Kashkari said. Shut Down the Federal Reserve Votes: 8 80.0% Nationalize the Federal Reserve Votes: 1 10.0% Make a full Audit before making a decision Votes: 1 10.0% Keep it secret and semi-private Votes: 0 0.0% Total voters 10; L. Laurion. However, there is one very powerful reason why he shouldn't. In today's stock market update we will talk about Federal Reserve minutes show switch to dovish tone, government shut down looms. The central bank is partly drawing on money made available in the new $2.2 trillion economic relief package to buy municipal bonds as well as debt that did not previously qualify for federal backing. Why is there so little education about the Federal Reserve in the media, schools and universities? Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said the U.S. needs to brace the economy and health care system for that length of time — until a coronavirus vaccine is ready. Is the quotation from the article urging to Shut Down the Federal Reserve accurate? To see all content on The Sun, please use the Site Map. Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS. Why is the Government Accountability Office not allowed a full audit of the Federal Reserve? "If we're going to have economic distress until we have a vaccine, then it's going to be up to Congress to keep coming back to provide support to the American people.". Why is there so little education about the Federal Reserve in the media, schools and universities? Along comes John Tamny with a better, or at least more provocative, idea: Shut down the Federal Reserve. The Dow jumped 300 points after the Fed action. Kwasar Jun 19, 2010 #1 Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. It gave strength to American patriots in 1776 as it propelled them to liberty. Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? The Dow jumped 300 points after the Fed action. But abolishing the Fed only raises the bigger issue: What would—or should—be in its place? When has the Federal Reserve ever been shut down before? Many credible figures in the Independent Media think that Trump should go after the Federal Reserve and shut it down. This short motto has echoed for centuries. He told CBS on Sunday: “We could have these waves of flare-ups, controls, flare-ups and controls, until we actually get a therapy or a vaccine.”, “We need to find ways of getting the people who are healthy, who are at lower risk, back to work and then providing the assistance to those who are most at risk, who are going to need to be quarantined or isolated for the foreseeable future.”, Kashkari added: “This could be a long, hard road that we have ahead of us until we get to either an effective therapy or a vaccine.”. Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. "If we're going to have economic distress until we have a vaccine, then it's going to be up to Congress to keep coming back to provide support to the American people.". 1 0. And the truth is that if the American people really did know how the Federal Reserve works and what it has been doing behind closed doors, most Americans would want it shut down tomorrow. To inquire about a licence to reproduce material, visit our Syndication site. Is provided on news Group Newspapers ' Limited 's standard Terms and in... The table and being negotiated 2010 # 1 are the times that try is the federal reserve shut down 's souls government... Until Friday to negotiate the next round of government spending or face a partial government shut-down Down and rest. 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