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Top Banker Accused of Misleading Feds.

Written by Gary North on March 15, 2013

Jamie Dimon, the most vocal, in-your-face banker on earth, has been accused in a government report for not being forthright about the losses at J. P. Morgan Chase. Then the Federal Reserve said that the bank’s capital plans are not quite right. Dimon, in response, said nothing. This is the first time I recall his […]

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Big Bank Bailout Rolls On: $83 Billion a Year

Written by Gary North on February 26, 2013

U.S. taxpayers cough up $83 billion every year for the 10 largest U.S. banks. The top five get about $64 billion. This is equal to their total profits. The public does not know this. Congress does not know this. Top bankers know this, because the story of how banks do it was published by the […]

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Federal Reserve Mass Inflation . . . Permanent?

Written by Gary North on February 25, 2013

The president of the “conservative” Federal Reserve Bank of St. Louis said on Friday the 22nd that FOMC policy will remain loose for a long time. There is no problem, he says. This policy of buying $1 trillion a year in Treasury bonds and Fannie/Freddie bonds is more powerful than expected. This will create U.S. […]

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No Gold Audit of Ft. Knox . . . in 60 Years

Written by Gary North on February 20, 2013

A fake gold audit of the gold in the Federal Reserve Bank of New York, a private depository, was made by the government. It did not include any audit of the legal claims against this gold. The audit mentioned that the government’s gold is in Ft. Knox. No audit was made of the gold in […]

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Reversal of Fortune: Why the Power Elite Will Lose Power

Written by Gary North on February 18, 2013

Remnant Review The best description of the reversal of fortune is Mary’s Magnificat, recorded in the Gospel of Luke, chapter 1, verses 46-55. “He hath put down the mighty from their seats, and exalted them of low degree” (v. 52). This was a fundamental theme in the Old Testament. We are told that those who […]

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TARP Still Drains the Treasury

Written by Gary North on February 13, 2013

TARP was shoved down the throats of voters in 2008. They opposed the bailouts of corporations, but to no avail. They have forgotten. John Boehner, who was the the man who rammed the program through the House Republicans, is still Speaker of the House. The TARP bills still mount up. The government bought a stake […]

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What If Goldman Sachs Went Bust?

Written by Gary North on January 24, 2013

Gary North’s Reality Check (Jan. 24, 2013) The governor of the bank of England is Mervyn King. He is about to be replaced by the man who is presently the governor of the Bank of Canada, Mark Carney. This replacement is unprecedented. A man who is not a British citizen is being brought in to […]

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The Futility of Banking Reform

Written by Gary North on January 22, 2013

Gary North’s Reality Check (Jan. 22, 2013) The largest banks are immune to reform or regulation. They control the Federal Reserve System, and have since the beginning in 1914, when it opened for business. The Congress defers to the FED. So, the banking system never changes much. There is never a significant reform. Today, the […]

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Big Banks Are in High Cotton: Profits Soar

Written by Gary North on January 17, 2013

Goldman Sachs’ profits are up.  J. P. Morgan Chase’s profits are up. How are your profits? Not so good? That’s because you’re not an ex-CEO of Goldman Sachs. Therefore, you’re not the Secretary of the Treasury. You’re not Hank Paulson. You’re not Robert Rubin. You’re not even Jon Corzine. So, no U.S. Senate seat for […]

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