Wednesday, April 13, 2016
The Economy: "Something's Wrong: Two More Closed-Door, Expedited Meetings of Federal Reserve”
"Two More Closed-Door, Expedited Meetings of Federal Reserve”
by U.S. Reporter
"After Monday's expedited, closed-door meeting of the Federal Reserve, Chair Janet Yellen met with Obama and Biden in an extraordinary meeting. Then, the fed called another, "expedited meeting" for Tuesday, April 12 to discuss a "Bank Supervisory Matter" and now, has called yet a THIRD closed-door meeting for Wednesday, 13 April, over "financial markets..."
The calling of three, closed-door meetings of the federal reserve Board of Governors and an extraordinary meeting with the President AND Vice-President, signals something is very serious; and the answer seems to rest with today's meeting about a "Bank Supervisory Matter."
Which bank? Which bank has a "supervisory" matter so serious that it had to be taken-up by the federal reserve Board of Governors at an emergency, closed-door meeting? It seems to laymen that it must be a bank which is systemically important; a bank "too big to fail" perhaps? Otherwise, why would the federal reserve Board of Governors even take note of it? This governing body is as high up the chain of command as it gets! Yet somehow they took up a "bank supervisory matter" at a special, closed-door, expedited meeting? Something's wrong.
It could be linked to the pending third expedited, closed-door meeting on Wednesday, 13 April because, according to the federal reserve, it will discuss "Financial Markets, Institutions, and Infrastructure." What would link the three meetings together? A "too big to fail" bank with too much exposure in the markets, losing too much money to bad debts, getting ready to fail? That would certainly get the attention of the federal reserve Board of Governors. But which bank?
Gold backed Chinese yuan? Could these meetings of the federal reserve have anything to do with China's planned introduction of a new, gold-backed, YUAN currency next Tuesday, 19 April? Who around the world would want to continue using Dollars, which are backed by nothing, when they could use YUAN which are backed by gold?
What will it mean to the USA if literally trillions in cash from overseas bank reserves come flooding back to the US next week, from countries that no longer need or want our currency?
Worse, what happens if all that cash comes back, and then countries decide they won't accept the US Dollar as payment any longer because the US government is Bankrupt? Our $19 Trillion national debt cannot be paid. The world knows it. So why would they want to continue using our currency if they don't have to? How would we conduct international trade? We manufacture almost nothing here in the US anymore; we import pretty much everything. Where would all those goods come from if countries stop taking our currency because it is worthless to them?
These are terrifying questions and the answers right now are elusive. Stay tuned because it seems to us that whatever issue(s) have caused all these expedited, closed-door meetings, will take shape (to the public) rather quickly.”
"What in the World is Going on with Banks? Emergency meetings, banker summits,
crashing European banks, and the worst bank reports since the Great Recession”