Let thy fountain be blessed: and rejoice with the wife of thy youth ~Proverbs 5:18

The Attack On Our Economy By The Creature From Jekyll Island

Posted: 2018-12-24

12-24-18

“If this weren’t the end of December, I would have thought it was April Fools,”

EVNN NOTE: Ever since the Federal Reserve was created in 1913, (see the book about it's creation by G. Edward Griffin "The Creature From Jekyll Island) it has interfered with the US economy under the premise that it would be a stabilizing factor in the US and world economy. Instead, and just 16 years later, it helped to usher in the greatest economic trainwreck in American history; "The Great Depresssion". All (credible) economists on the planet today will tell you that this economic disaster was, whether intentional or not, man made by the very ones supposedly trying to fix it; namely, Hoover, FDR and the Fed. Now we see, once again, the Fed meddling in the economy in a big way by deflating the currency and potentially bringing about a crash; thereby creating an opportunity for realty companies and others to swoop in and buy up properties and equities at firesale prices. The banks might not profit from it all but their shareholders do.

But, Merry Christmas anyway!

“The markets are already nervous enough. It’s like sending out a message saying our space shields can intercept incoming asteroids. Uh, I didn’t know there were any coming our way.”

ABC News By SOO YOUN Dec 24, 2018, 10:23 AM ET

The Dow Jones Industrial Average opened sharply lower Monday after U.S. Treasury Secretary Steven Mnuchin shocked investors worldwide over the weekend by tweeting that he had spoken to the CEOs of the six largest U.S. banks to ensure they were liquid.

The Dow opened 338 points, or 1.5 percent, lower at 22,112 in the first 20 minutes of trade. The losses added to last week's crushing performance, the index's worst week in 10 years -- during the 2008 financial crisis.

Over the weekend, Mnuchin tweeted that he called the CEOs of J.P. Morgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup.

The executives assured him that “they have ample liquidity available for lending to consumer, business markets, and all other market operations," Mnuchin wrote.

“They have not experienced any clearance or margin issues and that the markets continue to function properly,” he added.

Mnuchin's comments seem to have been meant to assuage investors, economists and traders that there would not be a run on banks, which precipitated the last crisis.

However, the message may have had the opposite effect since it was not a concern of market watchers until his tweet.

“If this weren’t the end of December, I would have thought it was April Fools,” Jared Bernstein, former chief economist to Vice President Joe Biden, told The Washington Post. “The markets are already nervous enough. It’s like sending out a message saying our space shields can intercept incoming asteroids. Uh, I didn’t know there were any coming our way.”

'When I saw he was calling the banks, that just tells me the administration is a little unsure of what's going on.'

READ MORE: https://abcnews.go.com/Business/dow-jones-opens-170-points-lower-treasury-secretary/story?id=59997548

Share this article on:    Facebook     Google+     Twitter

 

Enter comments below:

Your Email:
Validation Code from Graphic:
Enter these characters in the field above.


(Comments subject to review before being published.)


 

Business/Finance Article Summary
Replies
PostedArticle TitleTotalPending
2019-06-10 Getting Rich on Government Money 0 0
2019-04-21 CORPORATIONS THAT GIVE MONEY TO PLANNED PARE... 0 0
2019-03-26 Seattle: The Utopian Lie | NOIR S7E8 0 0
2019-03-26 Seattle is Dying 0 0
2019-03-17 Why renewables can't save the planet | Micha... 0 0
2019-01-14 What Happens When Democrats Run Your State? 0 0
2018-12-24 The Attack On Our Economy By The Creature Fr... 0 0
2018-12-19 "Every bull market ends with a Fed policy mi... 0 0
2018-12-14 Tesla cuts prices on Model X and Model S in ... 0 0
2018-12-02 A Taxing Issue 0 0
2018-10-13 Victor D Hanson; (NEW) A Thorough Explanatio... 0 0
2018-09-15 Kleenex Box presentation of Arizona's budget... 0 0
2018-08-15 This bull market in stocks stands just a wee... 0 0
2018-08-03 Stossel: The End of Tipping? 0 0
2018-07-28 Milton Friedman: The Rise of Socialism is Ab... 0 0
2018-04-26 The One And Only Solution To The Teachers St... 0 0
2018-04-24 Private Companies Can Now Unlock Your Car - ... 0 0
2017-12-27 Everything You Need To Know About Why Net Ne... 0 0
2017-12-11 Phoenix Planning to Raise Taxes Again 0 0
2017-06-09 Where to Spend Your $$ 0 0
2017-06-05 Government Employee Pensions Bankrupting Pho... 0 0
2017-05-06 Trump Signs First Federal Budget Since Septe... 0 0
2017-05-02 May Day: Satan's High Carnival 0 0
2017-03-19 The Decline and Fall of Canada. Prepare Your... 0 0
2017-03-16 The Death of Venezuela. Prepare Yourself Acc... 0 0
2017-03-11 Ivanka's "Stuff" Sales Boom Despite Anti-Tru... 0 0
2017-02-21 DRAIN THE TEMPE SWAMP! 0 0
2017-02-20 Why does Tempe have such high water bills, ... 0 0
2016-10-29 Alternative To Fiat Currency "Grains Of Gold 0 0
2016-09-09 Keynesian Economics in the ancient world? 0 0
2016-08-18 The Truth About The Fall of Rome: Modern Par... 0 0
2016-07-24 Desperate for food, middle-class Venezuelan... 0 0
2016-07-08 Illegal Hand Made Colt 1911 Pistols Ghost Gu... 0 0
2016-06-22 Times Are Changing in Gilbert By Gary Livac... 0 0
2016-04-03 The Biggest Scam In United States History | ... 0 0
2016-03-27 Inflation Calculator 0 0
2016-03-22 America's Socialist Origins 0 0
2016-03-15 Government: Is it Ever Big Enough? 0 0
2016-02-29 Trump and the Rise of the Unprotected 0 0
2016-02-23 What is Crony Capitalism? 0 0
2016-01-19 RECESSION 0 0
2016-01-07 'Trickle Down Theory' and 'Tax Cuts for the ... 0 0
2016-01-07 Wealth, Poverty, and Politics by Thomas Sowe... 0 0
2015-12-29 HL Quist The MythBuster 2016 Outlook 0 0
2015-12-24 Omnibus Budget Bill: The Death of The GOP | ... 0 0
2015-12-21 Sessions: Omnibus Explains Why Voters Are In... 0 0
2015-12-21 OMNIBUS SPENDING BILL OF 2015 0 0
2015-12-15 Left And Right Differences: Does It Feel Goo... 0 0
2015-12-15 Tempe Union High School District is Financia... 0 0
2015-12-10 Arizona Sen. Carlyle Begay: "We Must See Our... 0 0
The Latest


The Latest (cont.)


If you would like to get the latest news from EVNN,
just send an email to eastvalleynewsnetwork@gmail.com
and say "Sign me up" and you will receive
our daily news digest at your inbox.

national debt

 

 
Catching the News that others let get away...
 
- Sitemap -