Posts Tagged ‘reserve’
Congressman Ron Paul on Financial Services Hearing – The Dollar, Bernanke and Paulson
www.endthefed.us Congressman Ron Paul on Financial Services Hearing – The Dollar, Bernanke and Paulson! WAKE UP YOU SLEEPING FOOLS!!!!!!!!! IF YOU DO NOTHING, YOU ARE AS AMERICAN AS THE CHINESE s#!T YOU BUY FROM WALMART!!
GET INVOLVED OR BURY YOUR HEAD IN THE SAND!!!
www.endthefed.us
Duration : 0:8:18
Ron Paul Financial Services Hearing – July 10, 2008
Congressman Ron Paul talks with Treasury Secretary Henry Paulson on the dollar and other matters at the July 10, 2008 Financial Services hearing.
Duration : 0:7:39
Peter Schiff predicts Imminent Doom – Fear And Loathing In America
Peter Schiff (former Ron Paul financial advisor) predicts Dollar Crash. American Economic Crash. Fear and loathing in the American Empire.
Duration : 0:9:59
RON PAUL’S HR1207 PASSES THE HOUSE FINANCIAL SERVICES COMMITTEE – unscathed
Thanks to Alan Grayson, Ron Paul’s HR 1207 Audit the FED bill has passed the House Financial Committee.
And without the Mel Watt sabotage attempt!!!
Our work is not finished however.
Barney Frank wants to include it in the reform bill they’ll vote on next month.
CALL YOUR REPRESENTATIVE – TELL THEM TO VOTE ON 1207 AS A STANDALONE BILL.
TIME TO END THE FEDERAL RESERVE CENTRAL BANKING SCAM of 1913.
Duration : 0:4:1
Economic Apocalypse : China is the next Financial Bubble
http://www.uscollapse.tk Peter Schiff Economic Apocalypse China Bubble bust Glenn Beck Dollar Collapse Hyper Inflation Gold jim rogers marc faber max keiser gerald celente Economic Crisis Bailout Obama Austrian Ron Paul Bernanke Paulson Federal Reserve Wall Street GM Ford Chrysler Financial Stimulus Shiff Shciff AIG Lehman Brothers
Duration : 0:3:41
Cummings, Baucus Demand Geithner Testify About AIG: Video
Jan. 8 (Bloomberg) — Representative Spencer Bachus, the top Republican on the Financial Services Committee, has joined Democrat Elijah Cummings, chairman of the Oversight and Government Reform Committee, in calling for Treasury Secretary Timothy Geithner to testify about the efforts of the Federal Reserve Bank of New York to limit American International Group Inc.s disclosures of payments to banks. Bloomberg’s Lizzie O’Leary reports. (Source: Bloomberg)
Duration : 0:1:18
10/29/09 Ron Paul Questions Tim Geithner at Financial Services Hearing
http://www.house.gov/paul
http://CampaignForLiberty.com
Congressman Ron Paul once again schools Secretary of the Treasury Tim Geithner.
Duration : 0:5:30
Alan Grayson (High Quality Version): Is Anyone Minding the Store at the Federal Reserve?
This is a high quality version of the Financial Services Subcommittee on Oversight and Investigations hearing of May 5, 2009.
Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
Federal Reserve Office of the Inspector General: http://www.federalreserve.gov/oig/
Duration : 0:5:24
U.S. Economy and Financial System Bankrupt –What’s next?
This DVD presents financial, political and geo-political information that will aid investors in developing sound alternatives for their portfolios in uncertain times. Topics of discussion will cover: U.S. Real-Estate Market, China, Middle East and a declining U.S. dollar. Call, 800.525.9556 or email: karis@mcalvany.com to order a FREE copy of this entire DVD and an exclusive Market Report. Or if you would like to listen to exclusive, weekly, economic commentary for FREE by economic expert, David McAlvany, be sure to go to: www.mcalvany.com and register where it says, “McAlvany Weekly Commentary.”
Duration : 0:6:37
Financial WAR w/ China?!?! Dollar Collapse & Gold’s Future
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A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.
The State-owned Assets Supervision and Administration Commission, the regulator and nominal shareholder for state-owned enterprises (SOEs), told six foreign banks that SOEs reserved the right to default on contracts, Caijing magazine quoted an unnamed industry source as saying in an article published on Saturday.
While the details of the report could not be confirmed, it was Monday’s hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.
The warning from SASAC follows a series of measures from Beijing this year to crack down on the sale of derivative products by foreign banks to Chinese enterprises, principally big consumers, who bought protection against higher prices last year only to watch the market collapse — leaving them with losses.
While many companies including top airlines have come clean on the losses, some analysts fear another wave may follow.
“I wouldn’t be surprised if more state firms emerge with big derivatives trading losses, otherwise SASAC wouldn’t come out with such a radical move,” said a Hong Kong-based derivatives analyst, who like most other industry officials and bankers declined to be named due to the high sensitivity of the issue.
A SASAC media official said on Monday that he was waiting for the “relevant department’s” official comment before he can clarify to media. A government official said that the Bureau of Financial Supervision and Evaluation under SASAC was handling the issue. The official declined to be named and did not elaborate.
Spokespersons at Goldman Sachs and UBS declined comment, and media officials at Morgan Stanley and JPMorgan were not immediately available for comment. All are major global providers of commodity risk management.
No bank were named in the Caijing report. The SASAC media officer also declined to identify any specific banks.
“It’s a handful of companies who are being encouraged by regulators to re-negotiate,” said a second banking source. “It’s outrageous, but it’s China, so everyone is treading very carefully.”
For banks that are hoping to sell more derivatives hedges in China, the world’s fastest-expanding major economy and top commodities consumer, the danger goes beyond the immediate risk to existing contracts to the longer-term precedent that suggests Chinese companies can simply renege on deals when they like.
The report follows an order from SASAC in July that required all central government-controlled state companies engaged in trading derivatives to make quarterly reports about their investments, including details of holdings and performance.
But the reported letter opened several important questions that could not immediately be answered. “If we were among the banks receiving that letter, we would be very angry. But now the key is to find out more details on the letter: In whose name the letter was issued, the government or the corporate’s? And under what was the reason for defaulting?” said a Singapore-based marketing executive with a foreign bank.
The source, whose bank did not receive a letter, said that Air China, China Eastern and shipping giant COSCO – among the Chinese companies that have reported huge derivatives losses since last year – had issued almost identical notices to banks.
“If it’s in the name of the government, the impact will be very negative,” said the source, who declined to be named.
Beijing-based derivatives lawyers said the so-called “legal letter” has no legal standing — SASAC as a shareholder has no business relationship with international banks.
“It’s like the father suddenly told the creditors of his debt-ridden son that his son won’t pay any of his debt,” said a lawyer from the derivatives risks committee of the Beijing Lawyers Association. (C ) Reuters
Duration : 0:8:9