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BREAKING NEWS: FEDERAL RESERVE THREATENS POSSIBLE SYSTEMIC RISK IF FORCED INTO DISCLOSURE

August 27, 2009

he Federal Reserve is warning of a "Possible Systemic Risk" to the financial system in the next 5 days if they, the Federal Reserve, have to disclose who they have made emergency loans too.

BACKGROUND INFO

The Fed is not in the business of disclosing what business practices they conduct. They are a privately owned company / banking cartel. They also wield a lot of power and can literally shut the US financial system down at a flick of a switch.

So how did this all come about?

The Federal Reserve was sued by Bloomberg News and guess what; Bloomberg won. Because of this judgment, the Federal Reserve must disclose who the borrowers of the $750 Billion + emergency loans are to the American public by Aug 31. That is this coming Monday and we are facing a weekend. Historically when the Fed does act on bad news, they do it on a Friday afternoon so that they have a two day head start on trying to control the flood gates / damage control.

The Fed Reserve is warning everyone that not only will the disclosure of this information hurt the banks they loaned to, but also to the US economy itself.

Folks; there is clear warning of intent here by the Federal Reserve.

It is not my intent to hype this up and to scare the pants off of everyone, but historically bad news like this always takes place on a Friday.

So why all the concern…

I am concerned because the Fed Reserve has clearly stated to the judge that bad things can take place and that the judge should not have forced them, the Fed Reserve, and because of you judge, here is the outcome based upon your actions forcing us to reveal these secrets.

What we are seeing is the Fed Reserve about to go into temper tantrum mode if the Fed has to comply with the judgment.

The Fed has clearly stated that to disclose the financial firms it lent to or disclose the amounts or the assets put up as collateral under the emergency programs, saying "disclosure might set off a run by depositors and unsettle shareholders."

For the Fed Reserve to say something like this, means quite possibly something huge and we could be looking at a possible systemic risk to the financial system.

There is already speculation on the street talking a possible devaluation of the dollar upwards to 50% which could take place over night. Having it be a weekend, and possibly shutting down ATMs nation wide and you can get the idea. Who will be blamed, yep the judge.

Now, can this take place? Yes it can. Will it take place? I have to say that I am not sure. Dates like the Aug 31 judgment come and go. The Feds can ignore the Judge, this can be taken to a higher court and appealed, there are a lot of things that can happen. Personally I have to ask who has the power to exercise judgment on the Fed and force them to comply if they really don't want to? The answer... No one.

JUST IN CASE?

So what happens if we see a possible systemic risk take place or in other words some sort of money meltdown?

Well if something does take place, it is the weekend and come Monday all hell would have already broken loose by then. It would take several days to "fix" the problem. In fact how they "fix" the problem is a whole can of worms in and of itself. We have been hearing rumors of a banking holiday for the past 6 months now, maybe this might be it.

I guess the biggest question you have right now is "What to Do?" I really can't tell you what to do, but I can tell you what I am going to do. The best advice I can offer is try to be ready if something does happen.

You all know that we have been preaching stewardship for a long time, so we are doing ok in that department.

What I will do is the following...

1. Get the cars filled up with gas.

2. Get our grocery shopping done before the weekend.

3. Draw out some cash to have on hand, enough to last the weekend plus a couple of days.

4. Review those small needed (pair of shoes, air filter for the Buick, ect) and consider getting them now while we can.

That is about all I can do.

There are rumblings on the street taking place and the Fed is making idol threats. When things of this magnitude are in play, it behooves us to review what our options are and should we possibly act to based upon the given information to weather a storm. I can’t tell you what to do, all I know is what "I" would do with this sort of information.

I pray that all of this is just rumblings, but like the boy scout motto says... Be Prepared.

FOLLOW UP >>

Bloomberg News - Federal Reserve Says Disclosing Loans Will Hurt Bankshttp://www.bloomberg.com/apps/news?pid=20601087&sid=aAOhgVw78e3U

The Atlantic - The Problem With Federal Reserve Transparency

http://business.theatlantic.com/2009/08/the_problem_with_federal_reserve_transparency.php


iStockanalyst- Fed Fights For Its Secrets

http://www.istockanalyst.com/article/viewarticle/articleid/3441567




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