WHO OWNS THE NY FED
“We shall have no more financial panics…. Panics are impossible…. Business men can now proceed in perfect confidence that they will no longer put their property in peril…. Now the business man may work out his destiny without living in terror of panic and hard times…. Panics in the future are unthinkable…. Never again can panic come to the American people. – Herbert Hoover”
“Three of the serially charged banks (JPMorgan Chase, Goldman Sachs and Citigroup) are actually owners of the New York Fed – the regional Fed bank that played the major role in doling out the bailout money in 2008, and again in 2019. The New York Fed and its unlimited ability to electronically print money, are a boon to the New York City economy, which is a boon to advertising revenue at the big New York City-based media outlets.”
Under the Dodd-Frank financial reform legislation of 2010, the Fed was legally required to release the names of the banks and the amounts they borrowed “on the last day of the eighth calendar quarter following the calendar quarter in which the covered transaction was conducted.” The New York Fed released the information for the third quarter of 2019 last Thursday, a day earlier than required. We
reported on it the following day.
Those Fed revelations, that had been withheld from the American people for two years, should have made front page headlines in newspapers and on the digital front pages of every major business news outlet. Instead, there was a universal news blackout of the story at the largest business news outlets, including: Bloomberg News, the Wall Street Journal, the business section of the New York Times, the Financial Times, Dow Jones’ MarketWatch, and Reuters.
Redditors Raged Against the News Blackout of the Fed’s Bailout – Then All Hell Broke Loose When They Learned the Wall Street Banks Literally Own the New York Fed
News Blackout Banks got bailed out, we got sold out.
