Posts Tagged ‘Paul’
pt 3/4 FED sued over Gold Price manipulation | GATA roundtable on KWN
March 2nd, 2010 | 
Author: 
http://www.kingworldnews.com
The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, lemetropolecafe.com. In this GATA roundtable interview we will have Chris Powell, Bill Murphy and Adrian Douglas.
GATA today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank’s records of its surreptitious market intervention to suppress the monetary metal’s price.
The suit was filed in U.S. District Court for the District of Columbia and targets Fed records involving gold swaps, exchanges of gold with foreign financial institutions. In a letter dated September 17 this year to GATA’s law firm, William J. Olson P.C. of Vienna, Virginia, (http://www.lawandfreedom.com) Fed Board of Governors member Kevin M. Warsh acknowledged that the Fed has gold swap agreements with foreign banks but insisted that such documents remain secret:
http://www.gata.org/files/GATAFedResp…
The lawsuit follows two years of GATA’s efforts to obtain from the Federal Reserve and the U.S. Treasury Department a candid accounting of the U.S. government’s involvement in the gold market. These efforts parallel those of U.S. Rep. Ron Paul, R-Texas, who long has been proposing legislation to audit the Fed. The Fed has wrapped in secrecy much of its massive intervention in the markets over the last year, and Paul’s legislation recently was approved by the U.S. House of Representatives.
Duration : 0:10:0
Posted in foreign markets | 
Tags: Adrian, audit, ben, Bernanke, bill, celente, china, civil, Crisis, deception, Douglas, Fall, fed, federal, FIAT, food, GATA, gerald, Germany, gold, hyperinflation, Inflation, Investment, King, lawsuit, market, money, Murphy, News, obama, of, oil, Paul, peter, Powell, report, republic, reserve, Ron, schiff, silver, soros, stagflation, stated, stock, The, United, unrest, weimar, World | 
7 Comments »
pt 2/4 FED sued over Gold Price manipulation | GATA roundtable on KWN
http://www.kingworldnews.com
The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, lemetropolecafe.com. In this GATA roundtable interview we will have Chris Powell, Bill Murphy and Adrian Douglas.
GATA today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank’s records of its surreptitious market intervention to suppress the monetary metal’s price.
The suit was filed in U.S. District Court for the District of Columbia and targets Fed records involving gold swaps, exchanges of gold with foreign financial institutions. In a letter dated September 17 this year to GATA’s law firm, William J. Olson P.C. of Vienna, Virginia, (http://www.lawandfreedom.com) Fed Board of Governors member Kevin M. Warsh acknowledged that the Fed has gold swap agreements with foreign banks but insisted that such documents remain secret:
http://www.gata.org/files/GATAFedResp…
The lawsuit follows two years of GATA’s efforts to obtain from the Federal Reserve and the U.S. Treasury Department a candid accounting of the U.S. government’s involvement in the gold market. These efforts parallel those of U.S. Rep. Ron Paul, R-Texas, who long has been proposing legislation to audit the Fed. The Fed has wrapped in secrecy much of its massive intervention in the markets over the last year, and Paul’s legislation recently was approved by the U.S. House of Representatives.
Duration : 0:10:0
Posted in foreign markets |
Tags: Adrian, audit, ben, Bernanke, bill, celente, china, civil, Crisis, deception, Douglas, Fall, fed, federal, FIAT, food, GATA, gerald, Germany, gold, hyperinflation, Inflation, Investment, King, lawsuit, market, money, Murphy, News, obama, of, oil, Paul, peter, Powell, report, republic, reserve, Ron, schiff, silver, soros, stagflation, stated, stock, The, United, unrest, weimar, World |
7 Comments »
pt 1/4 FED sued over Gold Price manipulation | GATA roundtable on KWN
http://www.kingworldnews.com
The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, lemetropolecafe.com. In this GATA roundtable interview we will have Chris Powell, Bill Murphy and Adrian Douglas.
GATA today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank’s records of its surreptitious market intervention to suppress the monetary metal’s price.
The suit was filed in U.S. District Court for the District of Columbia and targets Fed records involving gold swaps, exchanges of gold with foreign financial institutions. In a letter dated September 17 this year to GATA’s law firm, William J. Olson P.C. of Vienna, Virginia, (http://www.lawandfreedom.com) Fed Board of Governors member Kevin M. Warsh acknowledged that the Fed has gold swap agreements with foreign banks but insisted that such documents remain secret:
http://www.gata.org/files/GATAFedResp…
The lawsuit follows two years of GATA’s efforts to obtain from the Federal Reserve and the U.S. Treasury Department a candid accounting of the U.S. government’s involvement in the gold market. These efforts parallel those of U.S. Rep. Ron Paul, R-Texas, who long has been proposing legislation to audit the Fed. The Fed has wrapped in secrecy much of its massive intervention in the markets over the last year, and Paul’s legislation recently was approved by the U.S. House of Representatives.
Duration : 0:10:0
Posted in foreign markets |
Tags: Adrian, audit, ben, Bernanke, bill, celente, china, civil, Crisis, deception, Douglas, Fall, fed, federal, FIAT, food, GATA, gerald, Germany, gold, hyperinflation, Inflation, Investment, King, lawsuit, market, money, Murphy, News, obama, of, oil, Paul, peter, Powell, report, republic, reserve, Ron, schiff, silver, soros, stagflation, stated, stock, The, United, unrest, weimar, World |
5 Comments »
Ron Paul: The Big Guns Have Lined Up Against H.R. 1207 (House Floor 7/30/09)
http://www.house.gov/paul
http://CampaignForLiberty.com
Mr. Speaker, the big guns have lined up against H.R. 1207, the bill to audit the Federal Reserve. What is it that they are so concerned about? What information are they hiding from the American people? The screed is: “Transparency is okay–except for those things they don’t want to be transparent.”
Federal Reserve Chairman Ben Bernanke argues that H.R. 1207, the legislation to audit the Federal Reserve, would politicize monetary policy. He claims that monetary policy must remain “independent,” that is, secret. He ignores history, because chairmen of the Federal Reserve in the past, especially when up for reappointment, do their best to accommodate the President with politically driven low interest rates and a bubble economy.
Former Federal Reserve Board Chairman Arthur Burns, when asked about all the inflation he brought about in 1971, before Nixon’s re-election, said that the Fed has to do what the President wants it to do, or it would “lose its independence.” That about tells you everything. Not by accident, Chairman Burns strongly supported Nixon’s program of wage and price controls, the same year; but I guess that’s not political. Is not making secret deals with the likes of Goldman Sachs, international financial institutions, foreign governments and foreign central banks, politicizing monetary policy? Bernanke argues that the knowledge that their discussions and decisions will one day be scrutinized will compromise the freedom of the Open Market Committee to pursue sound policy. If it is sound and honest, and serves no special interest, what’s the problem?
He claims that H.R. 1207 would give power to Congress to affect monetary policy. He dreamt this up to instill fear, an old statist trick to justify government power. H.R. 1207 does nothing of the sort. He suggested that the day after an FOMC meeting, Congress could send in the GAO to demand an audit of everything said and done. This is hardly the case. The FOMC function, under 1207, would not change. The detailed transcripts of the FOMC meetings are released every 5 years, so why would this be so different, and what is it that they don’t want the American people to know? Is there something about the transcripts that need to be kept secret, or are the transcripts actually not verbatim?
Fed sychophants argue that an audit would destroy the financial market’s faith in the Fed. They say this in the midst of the greatest financial crisis in history, brought on by none other than the Federal Reserve. In fact, Chairman Bernanke stated on November 14, 2007, that “a considerable amount of evidence indicates that central bank transparency increases the effectiveness of monetary policy and enhances economic and financial performance.”
They also argue that an audit would hurt the value of the U.S. dollar. In fact, the Fed, in less than 100 years of its existence, has reduced the value of the 1914 dollar by 96 percent. They claim H.R. 1207 would raise interest rates. How could it? The Fed sets interest rates and the bill doesn’t interfere with monetary policy. Congress would have no say in the matter; and besides, Congress likes low interest rates. It is argued that the Fed wouldn’t be free to raise interest rates if they thought it necessary. But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future, and, again, this bill does nothing to allow Congress to interfere with interest rate setting.
Fed supporters claim that they want to protect the public’s interest with their secrecy. But the banks and Wall Street are the opponents of 1207, and the people are for it. Just who best represents the “public’s” interest? The real question is, why are Wall Street and the Feds so hysterically opposed to 1207? Just what information are they so anxious to keep secret? Only an audit of the Federal Reserve will answer these questions.
Duration : 0:4:38
Schiff Report August 14, 2009
Schiff discusses retail sales, CPI, the markets, unfair political attacks.
Check my blog out at: http://ragingreport.blogspot.com/
Rate, Comment
Thanks!
Duration : 0:10:0
Posted in foreign markets |
Tags: 14, 2009, 500, and, aug, ben, Bernanke, bubble, china, collapse, crash, Currencies, deficits, deflation, depression, dollar, doom, dow, down, Economic, economy, euro, faber, fed, foreign, gold, Inflation, jones, lending, Markets, oil, Paul, peter, recession, report, rogers, Ron, schiff, silver, spending, The, up |
3 Comments »
Alex Jones Tv 3/5: Alex Takes Calls on Bank Holiday
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:10:54
Alex Jones Tv 4/5: Alex Takes Calls on Bank Holiday
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:10:51
Option Play Book – Call Ratio Back Spread
Learn about options with the Option Play Books from Paul Brittain of www.CommodityTradingSchool.com.
Master the 19 primary option trading strategies for trading options on commodity futures contracts.
Duration : 0:5:13
Posted in options trading |
Tags: alaron, brittain, commodities, commodity, finance, futures, money, options, Paul, school, strategies, trading |
1 Comment »
Alex Jones Tv 5/5: Alex Takes Calls on Bank Holiday
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:6:24
Alex Jones Tv 2/5: Alex Takes Calls on Bank Holiday
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:9:46