It’s official: The U.S. federal deficit was $3.1 trillion in the last fiscal year. This means the national debt is on track to top $30 trillion in a couple of years. With the U.S. government likely to approve another spending bill, and a possible Joe Biden administration to ramp up spending, it is inevitable that […]
Federal Reserve
Ron Paul: Can the Federal Reserve abolish racism in America?
By: Ron Paul House Financial Services Chair Maxine Waters and Senator Elizabeth Warren have introduced the Federal Reserve Racial and Economic Equity Act. This legislation directs the Federal Reserve to eliminate racial disparities in income, employment, wealth, and access to credit. Eliminating racial disparities in access to credit is code for forcing banks and other […]
THANKS FED: Record $170 billion flowed into bond ETFs so far in 2020
How does the Federal Reserve influence financial markets? Exhibit No. 3223: Buying bonds. Thanks to the Fed’s aggressive bond-buying campaign – government and corporate – a record $170 billion flooded into bond exchange-traded funds (ETFs) year-to-date. This is up from $154 billion in all of 2019. Following the steep coronavirus-induced selloff that spawned a liquidity […]
READ NOW: Federal Reserve’s September 15-16 FOMC meeting minutes
Minutes of the Federal Open Market Committee September 15–16, 2020 A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, September 15, 2020, at 11:00 a.m. and continued on Wednesday, September 16, 2020, at 9:00 a.m.1 PRESENT: Jerome H. Powell, Chair John C. Williams, Vice […]
Peter Schiff: Economic collapse will also eat the rich
Peter Schiff is still one of the best financial commentators around today. He may have been gotten a couple of prognostications wrong, such as gold hitting $5,000 per ounce, but Schiff’s analysis is still fundamentally sound. Schiff recently appeared on RT’s “CrossTalk” to discuss the so-called K-shape recovery and other subjects. He spoke alongside Richard […]