from ROGUE NEWS:
by Pam Martens and Russ Martens, Wall St On Parade:
It’s apparently not enough of a billionaire subsidy for the U.S. Treasury’s Internal Revenue Service to give a monster tax break to hedge fund titans by allowing them to pay Federal taxes on the basis of “carried interest,” meaning that they have a special loophole to pay a lower tax rate than many school teachers, nurses and plumbers. Now, according to an article in the Wall Street Journal, the Federal Reserve is actually considering opening its super-cheap repo loan money spigot to hedge funds. It doesn’t get any crazier than this.
Morphing from a central bank mandated to set monetary policy on the basis of maximum employment and stable prices, to the lender-of-last-resort to the criminally-charged trading houses on Wall Street and now, potentially, to the insider-trading/Big Short hedge funds, the New York Fed has totally lost its way if not its mind. (Unless, as many suspect, the New York Fed is simply the poorly-disguised money puppet of the one percent.)
Lebanese banks are limiting account holders to withdrawing a mere $100 of their own money at a time (and just $200 total a week) after the country’s banking crisis due to eroding liquidity and central bank’s looming default have been at the center of mass anti-corruption street protests since October of last year.
“There is a lot of anger,” one Lebanese protester told the AFP on Thursday. “You have to go to the bank twice to withdraw just $200.”