Remarks From Remarksman

February 1, 2009

Fed Borrowings Grow At Alarming Rate

Filed under: Uncategorized — BrianB @ 5:29 am
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I posted a Fed Borrowings chart back in August that seemed worrying at the time… Check out the latest ( December 2008 ) data:

Federal Reserve Borrowings by Depository Institutions as of Dec 1 2008

Federal Reserve Borrowings by Depository Institutions as of Dec 1 2008

(Source: Federal Reserve Bank of St. Louis)

Borrowings are now about three times as much as they were in August.

September 26, 2008

Must See Video – Money As Debt

Filed under: Uncategorized — BrianB @ 6:16 pm
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Canadian artist Paul Grignon created an amazing video that explains how our current system of money works, and why it is pretty much doomed to collapse eventually.

It is a 47 minute video, but it is well-worth the time spent in explaining why the current “Credit Crisis” is happening, and why the bankers and Federal Reserve have so much sway.

Watch it embedded below, or click here to view it in a new window.

August 2, 2008

Chart Showing Bank Borrowing From the Fed

Filed under: Uncategorized — BrianB @ 3:41 pm
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This chart from the St. Louis Federal Reserve Bank speaks for itself.

Banks Fed Borrowing History

Banks Fed Borrowing History

Update Jan. 30 2009: Borrowings are now about three times bigger! See newer post.

March 13, 2008

Who is the Fed Bailing Out?

Filed under: Uncategorized — BrianB @ 5:50 pm
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It’s not obvious to me or, I suspect, to most US citizens what the Federal Reserve Bank’s recent decision to lend $200,000,000,000 ($200 billion) to banks and other financial firms means.

The Fed created a new division of itself in order to make these loans, and the loans are for 28 days, instead of the overnight loans that the Fed has traditionally provided. The Fed will accept mortgage backed securities, the main source of the current credit problems, as collateral for those loans. Steven Pearlstein thinks it was a smart move to everyone’s advantage, as he explains in this Washington Post column.

Dean Baker disagrees. He wrote an interesting blog article a couple days ago wondering why people weren’t being more critical of the move. Then he wrote another article after Pearlstein’s column came out.

I’m with Dean Baker on this. If I remember correctly, the Bush family has a big connection to the Carlyle Group, one of the hedge funds mentioned as needing bailing out in the Pearlstein column. Can you say, “Taxpayer funded bail-out of the Bush family’s massive fortunes?”

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