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Who Needs the Fed?

Who Needs the Fed?
What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America's Central Bank

by John Tamny

  • Publisher : Encounter Books
  • Release : 2016-05-24
  • Pages : 224
  • ISBN : 1594038325
  • Language : En, Es, Fr & De
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The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards. John Tamny explains this backwardness in terms of a Taylor Swift concert followed by a ride home with Uber. In modern times, he points out, the notion of credit has been perverted, so that most people believe it’s money and that the supply of it can therefore be increased. This false notion has aggrandized the Fed with power that it can’t possibly use wisely. The contrast between the grinding poverty of Baltimore and the abundance of Silicon Valley helps illustrate the problem, along with stories about Donald Trump, Robert Downey Jr., Jim Harbaugh (the Michigan football coach), and robots. Who Needs the Fed? makes a sober case against the Federal Reserve by explaining what credit really is, and why the Fed’s existence is inimical to its creation. Readers will come away entertained, much more knowledgeable, and prepared to argue that the Fed is merely superfluous on its best days but perilous on its worst.

The Federal Reserve

The Federal Reserve
What Everyone Needs to Know

by Stephen H. Axilrod

  • Publisher : OUP USA
  • Release : 2013-07-25
  • Pages : 256
  • ISBN : 9780199934478
  • Language : En, Es, Fr & De
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The Federal Reserve: What Everyone Needs to Know is about how things work in practice for the Fed: how it makes decisions, what actions it takes, and the actual effects it has on the economy and society.

Set Money Free: What Every American Needs To Know About The Federal Reserve

Set Money Free: What Every American Needs To Know About The Federal Reserve
A Book

by Chris Rossini,Ron Paul

  • Publisher : Lulu.com
  • Release : 2014-07-03
  • Pages : 246
  • ISBN : 1312282614
  • Language : En, Es, Fr & De
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An important work that explains the economic, philosophical, and historical case against the Fed.

Undue Influence

Undue Influence
How the Wall Street Elite Puts the Financial System at Risk

by Charles R. Geisst

  • Publisher : John Wiley & Sons
  • Release : 2004-11-17
  • Pages : 336
  • ISBN : 0471701491
  • Language : En, Es, Fr & De
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A critical look at over 80 years of conflict, collusion, and corruption between financiers and politicians Undue Influence paints a vivid portrait of the dealings between "the few", in this case members of Congress, the banking community, and the Fed, and sheds light on how radical new deregulatory measures could be introduced by unelected officials and then foisted upon Congress in the name of progress. In the process, the background of the new financial elite is examined-because they are markedly different than their predecessors of the 1920s and 1930s. Undue Influence also brings readers up to speed on other important issues, including how the financial elite has been able to perpetuate itself, how the markets lend themselves to these special interest groups, and how it is possible that after 80 years of financial regulation and regulatory bodies the same problems of financial malfeasance and fraud still plague the markets. Charles R. Geisst (Oradell, NJ) is the author of 15 books, including Wheels of Fortune (0-471-47973-X), Deals of the Century (0-471-26397-4) and the bestsellers Wall Street: A History and 100 Years of Wall Street. Geisst has taught both political science and finance, worked in banking and finance on Wall Street and in London, as well as consulted. His articles have been published in the International Herald Tribune, Neue Zurcher Zeitung, Newsday, Wall Street Journal, and Euromoney.

Audit the Fed

Audit the Fed
Dodd-Frank, QE3, and Federal Reserve Transparency : Hearing Before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twelfth Congress, First Session, October 4, 2011

by United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology

  • Publisher : Unknown Publisher
  • Release : 2012
  • Pages : 78
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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The Fed and Lehman Brothers

The Fed and Lehman Brothers
Setting the Record Straight on a Financial Disaster

by Laurence M. Ball

  • Publisher : Cambridge University Press
  • Release : 2018-06-07
  • Pages : 329
  • ISBN : 1108372864
  • Language : En, Es, Fr & De
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The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed's leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters.

Federal Reserve Requirements Act of 1978

Federal Reserve Requirements Act of 1978
Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, Second Session, on S. 3304 ...

by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

  • Publisher : Unknown Publisher
  • Release : 1978
  • Pages : 336
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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The Federal Reserve

The Federal Reserve
What Everyone Needs to Know®

by Stephen H. Axilrod

  • Publisher : Oxford University Press
  • Release : 2013-05-01
  • Pages : 160
  • ISBN : 0199323860
  • Language : En, Es, Fr & De
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The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series, What Everyone Needs to Know®. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject. Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand. What Everyone Needs to Know® is a registered trademark of Oxford University Press.

Fed Power

Fed Power
How Finance Wins

by Lawrence Jacobs,Desmond King

  • Publisher : Oxford University Press, USA
  • Release : 2021-03
  • Pages : 304
  • ISBN : 0197573126
  • Language : En, Es, Fr & De
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Lawrence Jacobs and Desmond King's Fed Power is the first sustained examination of the Fed as a potent political institution that systematically provides concealed advantages to a privileged few. The authors trace the Fed's historic development from the fiery tug-of-war over monetary policy during the 19th century to its current position as the most important institution in the American economy, possessing unparalleled capacity and autonomy to intervene inprivate markets.

Small Business Tax Needs

Small Business Tax Needs
Hearings Before the Select Committee on Small Business, United States Senate, Ninety-fourth Congress, First Session ... February 4, 5, and 20, 1975

by United States. Congress. Senate. Select Committee on Small Business

  • Publisher : Unknown Publisher
  • Release : 1975
  • Pages : 470
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Hearings Relating to Madison Guaranty S&L and the Whitewater Development Corporation, Washington, DC Phase: Resolution Trust Corporation ("RTC") document production in response to S. Res. 229

Hearings Relating to Madison Guaranty S&L and the Whitewater Development Corporation, Washington, DC Phase: Resolution Trust Corporation ('RTC') document production in response to S. Res. 229
A Book

by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

  • Publisher : Unknown Publisher
  • Release : 1994
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Fed Up!

Fed Up!
Success, Excess and Crisis Through the Eyes of a Hedge Fund Macro Trader

by Colin Lancaster

  • Publisher : Harriman House Limited
  • Release : 2021-05-04
  • Pages : 248
  • ISBN : 0857198939
  • Language : En, Es, Fr & De
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Fed Up! tells the story of a global macro trader working amidst the greatest market panic we have seen since the Great Depression. As the COVID-19 pandemic spreads across the world, readers are taken through the late-stage decadence of an exuberant market bubble to the depths of the market crash and into the early innings of a recovery. It provides readers with a front row seat on trading activity, allowing them to experience the heartbeat of the markets. It’s also about money and opportunity. It’s about the moral dilemma of a man who is struggling as he reaches his own peak. Readers will experience the frenetic pace of life as a trader and will connect with the protagonist, experiencing his struggle to balance his personal values with the compromised values of the world around him. It shines a light on the largest policy issues confronting the U.S., while offering an entertaining and humorous look at the guys and gals who are the new market operators. This riveting account of the 2020 market crash from inside the mind of a global macro trader will serve as an exciting, nail-biting record of current times. It is about making fortunes while the world slips into misfortune. Will he beat the markets or will the markets beat him?

Sport Finance

Sport Finance
A Book

by Gil Fried,Timothy D. DeSchriver,Michael Mondello

  • Publisher : Human Kinetics
  • Release : 2013
  • Pages : 421
  • ISBN : 1450421040
  • Language : En, Es, Fr & De
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"Sport Finance, Third Edition," allows students to grasp fundamental concepts in sport finance, even if they have not previously studied finance. The text engages students with a practical approach to traditionally difficult financial skills and principles.

The Foreign Exchange and Money Markets Guide

The Foreign Exchange and Money Markets Guide
A Book

by Julian Walmsley

  • Publisher : John Wiley & Sons
  • Release : 2000-03-28
  • Pages : 520
  • ISBN : 9780471348986
  • Language : En, Es, Fr & De
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Dramatic changes in the foreign exchange and money markets have considerably altered the way international business will be conducted in the new millennium. The advent of the Euro, the enormous growth of the swaps market, and the daily increase in the development of derivative instruments are at the forefront of this evolution. If you're an investor, corporate finance officer, or anyone seeking to gain the essential edge in the world's major financial markets, resources for sound, accessible, and timely information are more important than ever. This updated, totally revised, and expanded edition of finance expert Julian Walmsley's popular classic is the one book you'll need. Practical and easy-to-understand, this unique reference provides guidance on every important market around the world, including closely related money markets such as the commercial paper and Eurocommercial paper markets, national money markets, interest rate options markets, and numerous related instruments. You will also find state-of-the-art sections on: * The Euro * Swaps-the instrument with the fastest growing market of all time * Money market calculations * Foreign exchange calculations * Derivatives * Risk issues From currency option markets to the "third generation" hedging products that combine forwards and options, The Foreign Exchange and Money Markets Guide, Second Edition, unites volumes of information in one single source-and demystifies the seemingly complex concepts facing investors today. Julian Walmsley is Managing Director of Askeaton Associates Ltd. and a Visiting Research Fellow at the International Securities Market Association Centre for Securities Research at the University of Reading, England. Previously, he was Chief Investment Officer for Mitsubishi Finance International and also Senior Investment Officer for Oil Insurance in Bermuda. He spent many years working with Barclays Bank's foreign exchange operations and their interest rate and currency swaps group in London and New York, and was a director in charge of swaps at the London subsidiary of National Bank of North Carolina (NCNB). His other books include New Financial Instruments and The Foreign Exchange Handbook (both published by Wiley), and Global Investing: Eurobonds and Alternatives. Mr. Walmsley earned his MA in economics at Cambridge University. THE CLASSIC GUIDEBOOK COMPLETELY REVISED AND UPDATED FOR THE NEW MILLENNIUM Written by a well-known financial author and respected authority on international investing, trading, and risk management, this updated, totally revised, and expanded second edition of The Foreign Exchange and Money Markets Guide provides essential, easy-to-understand coverage of the considerable developments that have drastically reshaped the way international business will be conducted in the new millennium. From state-of-the-art sections on the dawn of the Euro, the rapidly growing swaps market, and the daily increase in derivative instruments, to money market and foreign exchange calculations and risk issues, this invaluable classic includes the most timely, accessible, and dependable information on every important market around the world. Here is the quintessential resource for institutional investors, bankers, pension fund managers, or anyone seeking to gain that crucial edge in the world's major financial markets.

The Money Market

The Money Market
A Book

by Marcia L. Stigum,Stigum, Marcia L Stigum

  • Publisher : McGraw-Hill Professional Publishing
  • Release : 1983
  • Pages : 728
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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**** The first edition (1978) is cited in BCL3 (the 1983 edition was not noticed by the editors?). This is the standard reference on the subject, updated to cover developments since 1983. New or substantially revised chapters cover interest-rate swaps, medium-term notes (including bank deposit notes) futures (Treasury and Euro), options, loan-participation sales, banking (domestic and Euro), and the commercial paper market. Annotation copyrighted by Book News, Inc., Portland, OR

Housing and Urban Development Legislation--1969

Housing and Urban Development Legislation--1969
Hearings Before the Subcommittee on Housing of ... , 91-1, July 17 ... 30, 1969

by United States Congress. House. Banking and Currency Committee

  • Publisher : Unknown Publisher
  • Release : 1969
  • Pages : 623
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Fairy Tale Capitalism

Fairy Tale Capitalism
Fact and Fiction Behind Too Big To Fail

by Emily Eisenlohr

  • Publisher : AuthorHouse
  • Release : 2010-09-09
  • Pages : 272
  • ISBN : 1452034052
  • Language : En, Es, Fr & De
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“If something goes wrong, it’s going to be a big mess!” That 2004 warning came during the SEC’s approval of a new regulation intended to help investment banks avoid regulation. Confusing? In 1998 the large hedge fund Long-Term Capital Management was close to collapse. The Federal Reserve deemed it sufficiently large to present systemic risk and organized a “rescue” by a group of its largest banks. No taxpayer money was involved, but the event caught the eye of Congress. Congressmen and government officials vowed that something needed to be done about financial risk and regulation. Then Congress ignored LTCM’s lessons. Congress removed the barriers between investment and commercial banking in 1999. The following year Congress passed legislation that ensured that over-the-counter derivatives would not be regulated. Something else was going on. The real history of the systemic bubble began at least ten years ago. The implosion of this bubble is far larger than LTCM with even more complex risks and financial instruments. This meltdown involved huge taxpayer-funded bailouts. The public is paying attention this time, but is Congress really dealing with systemic risk? Many fictions surround the financial meltdown. Which political party is most responsible? Can regulators prevent another crisis? How do credit ratings play a hidden role? Can Congress tame systemic risk without shrinking big banks? In simple terms Emily Eisenlohr guides Main Street down Wall Street, where finance meets politics. She provides both simple explanations for the less financially savvy and simple illustrations to show even the experts how systemic risk remains, making future bailouts a given. She believes you don’t need to trade derivatives or have a Ph.D. in economics to understand this little history.

The Next Great Globalization

The Next Great Globalization
How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich

by Frederic S. Mishkin

  • Publisher : Princeton University Press
  • Release : 2009-10-08
  • Pages : 320
  • ISBN : 1400829445
  • Language : En, Es, Fr & De
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Many prominent critics regard the international financial system as the dark side of globalization, threatening disadvantaged nations near and far. But in The Next Great Globalization, eminent economist Frederic Mishkin argues the opposite: that financial globalization today is essential for poor nations to become rich. Mishkin argues that an effectively managed financial globalization promises benefits on the scale of the hugely successful trade and information globalizations of the nineteenth and twentieth centuries. This financial revolution can lift developing nations out of squalor and increase the wealth and stability of emerging and industrialized nations alike. By presenting an unprecedented picture of the potential benefits of financial globalization, and by showing in clear and hard-headed terms how these gains can be realized, Mishkin provides a hopeful vision of the next phase of globalization. Mishkin draws on historical examples to caution that mismanagement of financial globalization, often aided and abetted by rich elites, can wreak havoc in developing countries, but he uses these examples to demonstrate how better policies can help poor nations to open up their economies to the benefits of global investment. According to Mishkin, the international community must provide incentives for developing countries to establish effective property rights, banking regulations, accounting practices, and corporate governance--the institutions necessary to attract and manage global investment. And the West must be a partner in integrating the financial systems of rich and poor countries--to the benefit of both. The Next Great Globalization makes the case that finance will be a driving force in the twenty-first-century economy, and demonstrates how this force can and should be shaped to the benefit of all, especially the disadvantaged nations most in need of growth and prosperity.

The Fed Turns 100

The Fed Turns 100
Lessons Learned Over a Century of Central Banking : Hearing Before the Subcommittee on Monetary Policy and Trade of the Committee on Financial Services, U.S. House of Representatives, One Hundred Thirteenth Congress, First Session, September 11, 2013

by United States. Congress. House. Committee on Financial Services. Subcommittee on Monetary Policy and Trade

  • Publisher : Unknown Publisher
  • Release : 2014
  • Pages : 110
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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The Fed

The Fed
The Inside Story of how the World's Most Powerful Financial Institution Drives the Market

by Martin Mayer

  • Publisher : Simon and Schuster
  • Release : 2001
  • Pages : 350
  • ISBN : 068484740X
  • Language : En, Es, Fr & De
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A timely, inside look at America's Federal Reserve System reveals how the Fed has reinvented itself in response to changes in the new economy, explaining how it works, how it has changed, its impact on modern business and financial institutions, and more. 50,000 first printing.