Researchers at both JP Morgan and Citigroup agree that the probability that the U.S. economy will soon plunge into recession is rising.

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The Economic Collapse

Are You Prepared For The Coming Economic Collapse And The Next Great Depression?

 

JP Morgan And Citigroup Agree That The U.S. Economy Is Steamrolling Toward A Recession

By Michael Snyder, on December 6th, 2015

As we approach the end of 2015, researchers at both JP Morgan and Citigroup agree that the probability that the U.S. economy will soon plunge into recession is rising.  Just last week, a member of the U.S. House of Representatives asked Janet Yellen about Citigroup’s assessment that there is a 65 percent chance that the United States will experience an economic recession in 2016.  You can read her answer below.  And just a few days ago, JP Morgan economists Michael Feroli, Daniel Silver, Jesse Edgerton, and Robert Mellman released a report in which they declared that “the probability of recession within three years” has risen to “an eye-catching 76%”…

“Our longer-run indicators, however, continue to suggest an elevated risk that the expansion is nearing its end, and our preferred model now puts the probability of recession within three years at an eye-catching 76%.”

The good news is that the economists at JP Morgan believe that a recession will probably not hit us within the next six months.  But due to steadily weakening economic conditions, they are convinced that one is almost certain to strike within the next few years…

“When we first wrote, only manufacturing sentiment was signaling an above-average probability of imminent recession,” they said. “But recent weakening in the Richmond Fed services survey and the ISM nonmanufacturing index have now pushed the nonmanufacturing sentiment probability up somewhat as well.”

In the short term, the note says that the 6-month likelihood is only 5%, but within a year it stands at 23%, in two years 48%, and in three years the “eye-popping” 76%.

To be honest, I believe that this assessment is far too optimistic, and it appears that researchers at Citigroup agree with me.  According to them, there is a 65 percent chance that the U.S. economy will plunge into recession by the end of next year.  Last week, Janet Yellen was asked about this during testimony before Congress…

In testimony before Congress’ Joint Economic Committee, Yellen was asked by Rep. Pat Tiberi about a piece of research released by Citigroup’s rates strategy team Monday.

Specifically, Tiberi, an Ohio Republican, wanted to know what Yellen made of Citi’s conclusion that there is a 65 percent chance of a U.S. recession in 2016.

“The economists said that they would assign about a 65 percent likelihood of a recession in the United States in 2016. Now, 65 percent sounds high to me, but I’m not an economist and I’m not the Fed chair. But zero risk might be too low as well. So what would you assign a risk level of a recession next year?” Tiberi asked.

So how did Yellen respond?

 

Read More Here

Greek premier Tsipras once among anti-austerity protesters caves to austerity measurs sparking protest bringing Greece to a standstill for 24 hours

 

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protohema.gr

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“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt

 

Submitted by Tyler Durden on 11/12/2015 08:46 -0500

One thing that became abundantly clear after Alexis Tsipras sold out the Greek referendum “no” back in the summer after a weekend of “mental waterboarding” in Brussels was that the public’s perception of the once “revolutionary” leader would never be the same. And make no mistake, that’s exactly what Berlin, Brussels, and the IMF wanted.

By turning the screws on the Greek banking sector and bringing the country to the brink of ruin, the troika indicated its willingness to “punish” recalcitrant politicians who pursue anti-austerity policies. On the one hand, countries have an obligation to pay back what they owe, but on the other, the subversion of the democratic process by using the purse string to effect political change is a rather disconcerting phenomenon and we expect we’ll see it again with regard to the Socialists in Portugal.

After a month of infighting within Syriza Tsipras did manage to consolidate the party and win a snap election but he’s not the man he was – or at least not outwardly. He’s obligated to still to the draconian terms of the bailout and that means he is a shadow of his former self ideologically. As we’ve said before, that doesn’t bode well for societal stability.

On Thursday, we get the first shot across the social upheaval bow as the same voters who once came out in force to champion Tsipras and Syriza are staging massive protests and walkouts.

 

Read More Here

 

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Bloomberg Business

Greece Comes to a Standstill as Unions Turn Against Tsipras

Nikos Chrysoloras nchrysoloras

November 11, 2015 — 6:01 PM CST Updated on November 12, 2015 — 6:04 AM CST

• Unions hold general strike to protest against austerity
• PM races to satisfy creditor demands in exchange for funds

As Greek workers took to the streets in protest on Thursday, Alexis Tsipras was for the first time on the other side of the divide.

Unions — a key support base for the prime minister’s Syriza party — chanted in rallies held in Athens the same slogans Tsipras once used against opponents. Doctors and pharmacists joined port workers, civil servants and Athens metro staff in Greece’s first general strike since he took office in January, bringing the country to a standstill for 24 hours.

As many as 20,000 protesters gathered in central Athens while a small group of anarchists at the tail of the demonstration threw petrol bombs at police officers at around 1:30 pm local time, a police spokesman said, requesting anonymity in line with policy. The police responded with tear gas and stun grenades.

Greece’s biggest unions, ADEDY and GSEE, are holding marches accusing Tsipras of bowing to creditors and imposing measures that “perpetuate the dark ages for workers,” as the country’s statistical agency released data showing that 1.18 million Greeks, or 24.6 percent of the workforce, remained unemployed in August.

The 41-year-old Greek premier, who was among anti-austerity protesters in previous general strikes, is now racing to complete negotiations with creditors on belt-tightening in exchange for the disbursement of 10 billion euros ($10.7 billion) to be injected into banks. Failure to reach an accord with euro-area member states and the International Monetary Fund on policies including primary residence foreclosures, and stricter rules on overdue taxes, would put the solvency of the country’s lenders in doubt.

“The economic policies Tsipras has to implement are definitely harsher than warranted, and also harsher than they would be if it wasn’t for these seven months of brinkmanship and extreme political uncertainty,” said Manolis Galenianos, a Professor of Economics at the Royal Holloway, University of London. “This wasn’t necessary, it could have been avoided, and the government will now implement deeper cuts to achieve less ambitious fiscal targets.”

 

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Despite having run for the White House as a “change” candidate, Obama has mostly favored continuity, including bending to the Military-Industrial Complex

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Consortium News

Obama Keeps Pentagon Spigot Open

October 31, 2015

 

Though he ran for the White House as a “change” candidate, President Obama has mostly favored continuity, including bending to the usual pressure from the Military-Industrial Complex to keep the Pentagon spending flowing, as budget watchdog Chuck Spinney explains.

By Chuck Spinney

The Pentagon just won another small skirmish in its long war with Social Security and Medicare. That is the unstated message of the budget deal just announced gleefully by congressional leaders and President Barack Obama. To understand why, let’s take a quick trip down memory lane.

Last January, President Obama submitted Fiscal Year (FY) 2016 budget to Congress, and he proposed to break the spending limits on both defense and domestic programs.  These limits are set by the long-term sequester provisions of the Budget Control Act of 2011  (BCA), which, for better or worse, is the law of the land, and Obama was asking Congress to change the law.

Mr. Obama wanted to finance his ramped up spending proposals by increasing taxes.  Of course, he knew that the Republican-controlled Congress lusted for defense increases but hated domestic spending, particularly entitlements, such as Social Security and Medicare.

Moreover, he knew increasing taxes was like waving the red cape in front of the Republican budget bulls. So, he knew his budget would be dead on arrival. Obama’s budget, nevertheless, had one virtue: it was up-front about the intractable nature of the budget problem. In effect, whether deliberately or not, Obama laid a trap that the Republicans merrily walked into during the ensuing spring and summer.

 

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Britain should have followed Iceland example, jailed corrupt bankers – Scottish MSP

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Published time: 30 Oct, 2015 15:29Edited time: 30 Oct, 2015 15:34

 

London, Britain © Toby Melville / Reuters

Bankers who are found guilty of market rigging, fraud and irresponsible lending should be imprisoned, a member of the Scottish Parliament has said.

Scottish Government Cabinet Secretary Keith Brown said the UK should follow Iceland’s example of jailing corrupt financiers, rather than merely imposing fines, which is the current punishment for rogue bankers in Britain.

Speaking to the BBC on Thursday, Brown praised the actions of Iceland, which jailed its top banking chiefs for criminal behavior.
Iceland, which suffered a deep recession after the 2008 crash, set up a prosecuting team to investigate 21 alleged reports of illegal banking practice.

This resulted in the chiefs of Iceland’s three biggest banks – Glitnir, Kaupthing and Landsbanki – being convicted.

 

Read More Here

Elizabeth Warren, kickin butts and taking names on Capitol Hill and Wall Street…..

House Democrats Back Away From GOP Attack On Elizabeth Warren’s Agency

Wall Street watchdogs are worried about several Dem defections.

Zach Carter Senior Political Economy Reporter, The Huffington Post

Posted: 09/30/2015 04:04 PM EDT | Edited: 09/30/2015 05:52 PM EDT

Jennifer Graylock via Getty Images

 

UPDATE: After pressure from Rep. Maxine Waters (D-Calif.), Sen. Elizabeth Warren (D-Mass.) and former House Financial Services Committee Chairman Barney Frank, Democrats on Wednesday overwhelmingly voted against a bill to hamstring the Consumer Financial Protection Bureau.

Reps. David Scott (D-Ga.) and Kyrsten Sinema (D-Ariz.) were the only Democrats voting in favor, joined by every Republican present at the markup. Rep. Brad Sherman (D-Calif.), who had previously spoken in support of the bill, said he was casting “a reluctant no” vote during the roll call.

Rep. Denny Heck (D-Wash.) had been attempting to hash out an amendment that would bring additional Democrats on board, but did not ultimately introduce any language.

EARLIER:

 

WASHINGTON — Several House Democrats are preparing to join a GOP assault on the Consumer Financial Protection Bureau — the agency designed by Sen. Elizabeth Warren to defend households from predatory lending. 

Republicans hope to hamstring the CFPB by replacing its director with a bipartisan five-member commission. Bank lobbyists have advocated the change for years, hoping to tie up rulemaking and enforcement actions with red tape and disputes between commissioners. Under CFPB Director Richard Cordray, the agency has forced companies to return billions of dollars in ill-gotten gains to consumers.

Read More Here

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New York Times

Senator Elizabeth Warren to Join Call to Alter Sales of Distressed Loans

By MATTHEW GOLDSTEINSEPT. 30, 2015

Photo

Senator Elizabeth Warren, Democrat of Massachusetts. Credit Susan Walsh/Associated Press

Housing advocates have attracted a prominent ally in their push to change the federal government’s policy of selling distressed mortgages at a discount to private equity firms and hedge funds.

Senator Elizabeth Warren, Democrat of Massachusetts, joined other lawmakers, advocates and community activists on Wednesday in a Washington rally to oppose the loan sale program.

The senator called on the Department of Housing and Urban Development and the Federal Housing Fianance Agency, the overseer of Freddie Mac and Fannie Mae, to make it easier for nonprofit organizations to bid for the bundles of distressed mortgages put up for auction.

The sale of distressed mortgages by HUD and the government-sponsored mortgage finance firms has been drawing growing criticism from housing advocates and lawyers in recent months. The critics are concerned that private buyers of distressed mortgages are moving too quickly to put borrowers into foreclosure instead of modifying the loan terms as housing officials had hoped.

The investors are buying loans at a discount, often as much as 30 percent.

In a statement, Ms. Warren accused HUD and the F.H.F.A of “lining up with the Wall Street speculators.”

Read More Here

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The Daily 202: Elizabeth Warren wins another battle in war on Wall Street

By James Hohmann and Elise Viebeck September 30 at 7:57 AM    

Bernie Sanders and Elizabeth Warren walk to the Senate floor after a weekly Democratic caucus lunch this spring. (Reuters/Jonathan Ernst)

THE BIG IDEA: 

— Robert Litan has joined a growing fraternity of powerful Democrats who lost jobs because of Elizabeth Warren. 

Just a few hours after The Daily 202 broke the news that the Massachusetts senator was taking on the Brookings Institution over industry-financed research produced by Litan, the think tank sought and received his resignation. The veteran of the Clinton administration, who directed Brookings’ Economic Studies Program before becoming a non-resident senior fellow, is listed on the think tank’s web site this morning as a “Former Expert.”

Earlier this year, Warren blocked investment banker Antonio Weiss from becoming the third-ranking official at the Treasury Department. In 2013, Warren’s opposition helped torpedo Larry Summers’ lifelong dream of becoming Federal Reserve chairman—despite the fact he was reportedly promised the job by the White House.

Wall Street types call Warren a lot of nasty things, but demagogue is the most printable.

Read More Here

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 the Intercept:

Warren Increases the Pain Factor for Choosing Corporate-Friendly Democrats

Unofficial _Sources

David Dayen

Sep. 8 2015, 4:11 p.m.

A little-noticed report on candidates for an open spot on the Securities and Exchange Commission (SEC) reaffirms that the reformist wing of the Democratic Party is winning the tactical battle over financial regulatory personnel.

Luis Aguilar, one of three Democratic SEC commissioners on the five-member panel, announced he would step down in May. Initially, the White House floated as a replacement Keir Gumbs, who has passed through the revolving door, from SEC staff to the white-collar corporate law firm Covington & Burling.

Covington & Burling counts most major U.S. banks among its clients, and is the home of former Attorney General Eric Holder and several of his top deputies. While at Covington, Gumbs allegedly gave CEOs tutorials on how to avoid disclosing their corporate political spending. He also represented the American Petroleum Institute before the SEC.

 

Read More Here

September 25, 2015: The UN Launches A ‘New Universal Agenda’ For Humanity

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End Of The American Dream

The American Dream Is Becoming A Nightmare And Life As We Know It Is About To Change

By Michael Snyder, on September 24th, 2015

 

One of the biggest steps toward a one world government that we have ever seen is happening this week, and yet barely anyone is even talking about it.  In fact, it is even being called a “new universal Agenda” for humanity.  Those are not my words – those are the words that the United Nations is using.  If you don’t believe this, just go look at the official document for this new UN agenda.  You won’t have to read very far.  The phrase “new universal Agenda” is right near the end of the preamble.  Officially, the name of this ambitious new program is “the 2030 Agenda“, and it is being hyped as a way to get the whole world to work together to make life better for all of us.  And a lot of the goals of this new agenda are very admirable.  For example, who wouldn’t want to end global poverty?  But as you look deeper into what the UN is trying to do, you find some very disturbing things.

If you didn’t like Agenda 21, then you really are not going to like the 2030 Agenda, because the 2030 Agenda takes things to an entirely new level.  Agenda 21 was primarily focused on climate change and the environment, but the 2030 Agenda goes far beyond that.  As I have noted previously, the 2030 Agenda addresses economics, agriculture, education, gender equality, healthcare and a whole host of other issues.  It has been argued that there are very few forms of human activity that do not fall under the goals of the 2030 Agenda in one way or another.

The UN says that this new Agenda is “voluntary”, and yet virtually every single nation on the entire planet is willingly signing up for it.  In the official document that all of these nations are agreeing to, there are 17 sustainable development goals and 169 very specific sustainable development targets.  You can read them for yourself right here.

 

Read More Here

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• Sustainable development, science, and the UN
• The UN’s “Sustainable Development Agenda” is Basically a Giant Corporatist Fraud
• UN’s ‘HeForShe’ gender equality campaign launches global bus tour to colleges, starting in UK

Forget the New World Order, Here’s Who Really Runs the World

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By WakingTimes September 25, 2015

Jake Anderson, Anti Media
Waking Times

For decades, extreme ideologies on both the left and the right have clashed over the conspiratorial concept of a shadowy secret government pulling the strings on the world’s heads of state and captains of industry.

The phrase New World Order is largely derided as a sophomoric conspiracy theory entertained by minds that lack the sophistication necessary to understand the nuances of geopolitics. But it turns out the core idea — one of deep and overarching collusion between Wall Street and government with a globalist agenda — is operational in what a number of insiders call the “Deep State.”

In the past couple of years, the term has gained traction across a wide swath of ideologies. Former Republican congressional aide Mike Lofgren says it is the nexus of Wall Street and the national security state — a relationship where elected and unelected figures join forces to consolidate power and serve vested interests. Calling it “the big story of our time,”Lofgren says the deep state represents the failure of our visible constitutional government and the cross-fertilization of corporatism with the globalist war on terror.

“It is a hybrid of national security and law enforcement agencies: the Department of Defense, the Department of State, the Department of Homeland Security, the Central Intelligence Agency and the Justice Department. I also include the Department of the Treasury because of its jurisdiction over financial flows, its enforcement of international sanctions and its organic symbiosis with Wall Street,” he explained.

Even parts of the judiciary, namely the Foreign Intelligence Surveillance Court, belong to the deep state.

How does the deep state operate?

A complex web of revolving doors between the military-industrial-complex, Wall Street,  and Silicon Valley consolidates the interests of defense contracts, banksters, military actions, and both foreign and domestic surveillance intelligence.

According to Mike Lofgren and many other insiders, this is not a conspiracy theory. The deep state hides in plain sight and goes far beyond the military-industrial complex President Dwight D. Eisenhower warned about in his farewell speech over fifty years ago.

 

Read More and Watch Video Here

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Days of Rage Are Coming : We are fast approaching another moment in history that disabuses what’s left of the middle class of their fantasy that they matter.

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Time to Trade in Your Jag, Benz, BMW for a Dented Econobox: Days of Rage Are Coming

The resistance will take the form of subverting the signifiers of wealth that exemplify the few who have benefited so greatly while everyone else lost ground.

It’s time to trade in your Jag, Mercedes, BMW (and maybe your Prius, Volvo, Lexus, etc.) before the Days of Rage start. As I’ve explained before ( As the “Prosperity” Tide Recedes, the Ugly Reality of Wealth Inequality Is Exposed), the rage of the masses who have been losing ground while the Financier Oligarchs, the New Nobility and the technocrat class reap immense gains for decades has been suppressed by the dream that they too could join the Upper Caste.

But once the realistic odds of that happening (low) sink in, the Days of Rage will begin. For those still who don’t know the facts of rising inequality, here’s what you need to know.

The top 1% skim 23% of all income:

While the top 5% has enjoyed substantial income gains over the past 45 years, adjusted for inflation, the bottom 90% have lost ground:

The last time there was mass unrest in America was the civil rights/Vietnam War era. The power of the civil rights movement arose from the core injustice of segregation (separate and unequal) and institutionalized racism/bias. This institutionalized injustice drew people from all classes and ethnicities into the streets, where they were promptly beaten by police.

Read More Here

Related articles

• Days Of Rage Are Coming…”Surprise, middle class America – the Power Elites could care less what you think.”

We are being bombarded with wall-to-wall breaking news headlines and entertainment spectacles keeping us tuned out to the government’s steady encroachments on our freedoms:

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The Rutherford Institute

The Crisis of the Now: Distracted and Diverted from the Ever-Encroaching Police State

By John W. Whitehead
September 22, 2015

“When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby talk, when, in short, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk: culture-death is a clear possibility.”—Author Neil Postman

Caught up in the spectacle of the forthcoming 2016 presidential elections, Americans (never very good when it comes to long-term memory) have not only largely forgotten last year’s hullabaloo over militarized police, police shootings of unarmed citizens, asset forfeiture schemes, and government surveillance but are also generally foggy about everything that has happened since.

Then again, so much is happening on a daily basis that it’s understandable if the average American has a hard time keeping up with and remembering all of the “events,” manufactured or otherwise, which occur like clockwork and keep us distracted, deluded, amused, and insulated from reality while the government continues to amass more power and authority over the citizenry.

In fact, when we’re being bombarded with wall-to-wall news coverage and news cycles that change every few days, it’s difficult to stay focused on one thing—namely, holding the government accountable to abiding by the rule of law—and the powers-that-be understand this. As investigative journalist Mike Adams points out:

This psychological bombardment is waged primarily via the mainstream media which assaults the viewer by the hour with images of violence, war, emotions and conflict. Because the human nervous system is hard wired to focus on immediate threats accompanied by depictions of violence, mainstream media viewers have their attention and mental resources funneled into the never-ending ‘crisis of the NOW’ from which they can never have the mental breathing room to apply logic, reason or historical context.

Consider if you will the regularly scheduled trivia and/or distractions in the past year alone that have kept us tuned into the various breaking news headlines and entertainment spectacles and tuned out to the government’s steady encroachments on our freedoms:

Americans were riveted when the Republican presidential contenders went head-to-head for the second time in a three-hour debate that put Carly Fiorina in a favored position behind Donald Trump; Hillary Clinton presented the softer side of her campaign image during an appearance on The Tonight Show with Jimmy Fallon; scientists announced the discovery of what they believed to be a new pre-human species, Homo naledi, that existed 2.8 million years ago; an 8.3 magnitude earthquake hit Chile; massive wildfires burned through 73,000 acres in California; a district court judge reversed NFL player Tom Brady’s four-game suspension; tennis superstar Serena Williams lost her chance at a calendar grand slam; and President Obama and Facebook mogul Mark Zuckerberg tweeted their support for a Texas student arrested for bringing a homemade clock to school.

That was preceded by the first round of the Republican presidential debates; an immigration crisis in Europe; the relaxing of Cuba-U.S. relations; the first two women soldiers graduating from Army Ranger course; and three Americans being hailed as heroes for thwarting a train attack in France. Before that, there was the removal of the Confederate flag from the South Carolina statehouse; shootings at a military recruiting center in Tennessee and a movie theater in Louisiana; the Boy Scouts’ decision to end its ban on gay adult leaders; the first images sent by the New Horizons spacecraft of Pluto; and the victory over Japan of the U.S. in the Women’s World Cup soccer finals.

 

Read More Here

The Deception Behind The Alleged US Economic Recovery

 

 

A diagram showing the organization of the Federal Reserve System

http://www.richmondfed.org/publications/education/federal_reserve_today/frtoday.pdf

 

Wikimedia.org

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An Irredeemably Bad Deal

Obama, Geithner and the Missing Six Trillion Dollars

by ROB URIE

Timothy Geithner, President Barack Obama’s first Treasury Secretary and chief architect of many of the various and sundry bank bailouts and associated programs carried out during Mr. Obama’s first term in office, recently wrote a book telling his side of ‘the story.’ To be clear, I haven’t read the book and have no intention of doing so. Life is short and the relevant side of the story, the economic consequences of Mr. Geithner’s policies, is the one of interest here. The prevailing storyline in the banker’s ghettoes of New York and London is of an indispensable and functioning financial system saved and a second Great Depression averted through Mr. Geithner’s necessary but unpopular programs to transfer public resources to nominally private corporations— Wall Street banks, in order to save them. Implied is that the travails Wall Street faced in 2008 – 2009 were the result of ‘natural’ forces and that its restoration is substantially related to restoration of ‘the economy.’ Mainstream economists have put forward variations on this latter claim through repeated assertion that ‘the economy,’ as measured by GDP (Gross Domestic Product) and the official unemployment rate, has ‘recovered’ to pre-recession levels.

Graph (1): Contrary to the view on Wall Street and within the Western economic establishment restoration of Wall Street has not ‘fixed’ the economy. The policies of Mr. Geithner, the Obama administration and the Federal Reserve have ‘fixed’ profits, compensation and bonuses for Wall Street. The drop in median income is evidence of ongoing economic Depression for most citizens of the West. Assertions to the contrary by Mr. Geithner, the Obama administration and the ‘eternal sunshine of the spotless mind’ crowd of Western economists are evidence of whose interests they represent. Apparent in the recovery of financial profits without a recovery in household incomes is that Wall Street doesn’t need a functioning economy to earn ‘profits.’

 

 

Read More Here

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The Fed Is The Great Deceiver — Paul Craig Roberts and Dave Kranzler

May 12, 2014  

 

Paul Craig Roberts and Dave Kranzler

Is the Fed “tapering”? Did the Fed really cut its bond purchases during the three month period November 2013 through January 2014? Apparently not if foreign holders of Treasuries are unloading them.

From November 2013 through January 2014 Belgium with a GDP of $480 billion purchased $141.2 billion of US Treasury bonds. Somehow Belgium came up with enough money to allocate during a 3-month period 29 percent of its annual GDP to the purchase of US Treasury bonds.

Certainly Belgium did not have a budget surplus of $141.2 billion. Was Belgium running a trade surplus during a 3-month period equal to 29 percent of Belgium GDP?

No, Belgium’s trade and current accounts are in deficit.

Did Belgium’s central bank print $141.2 billion worth of euros in order to make the purchase?

No, Belgium is a member of the euro system, and its central bank cannot increase the money supply.

So where did the $141.2 billion come from?

There is only one source. The money came from the US Federal Reserve, and the purchase was laundered through Belgium in order to hide the fact that actual Federal Reserve bond purchases during November 2013 through January 2014 were $112 billion per month.

In other words, during those 3 months there was a sharp rise in bond purchases by the Fed. The Fed’s actual bond purchases for those three months are $27 billion per month above the original $85 billion monthly purchase and $47 billion above the official $65 billion monthly purchase at that time. (In March 2014, official QE was tapered to $55 billion per month and to $45 billion for May.)

Why did the Federal Reserve have to purchase so many bonds above the announced amounts and why did the Fed have to launder and hide the purchase?

Some country or countries, unknown at this time, for reasons we do not know dumped $104 billion in Treasuries in one week.

 

Read More Here

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