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Fix The Fed Profile picture
@FixTheFed
Jul 10, 2022 • 5 tweets • 3 min read • Read on X
🗞️How the Federal Reserve Built a Housing Market of Cards and Destroyed the American Dream to Enrich Wall Street

FED had no clear authority for $2.7TN in illicit residential MBS purchases and refuses to stop despite record inflation and unaffordability

occupythefed.substack.com/p/how-the-fede…
Honored and humbled by @RudyHavenstein, OG central bank critic extraordinaire ...

Twitter's Wall Street shareholders at BlackRock and Vanguard think they snuffed him out for good ... let's prove it backfired and amplify his message a thousandfold on here! Image
FED expressly stated it would apply a $17.5BN/mo cap on MBS reinvestments starting June 1, which implies a commensurate runoff if FED is buying any MBS at all. Since June 1, FED continued to purchase $10s of billions in MBS. But FED's MBS holdings have only *increased* thru July! Image
@RudyHavenstein Great updated chart from @NorthmanTrader ... truly damning ... America needs to wake up fast as the FED has unquestionably caused a #housingcrisis and #inflationcrisis with its illicit MBS purchases... Image

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More from @FixTheFed

Fix The Fed Profile picture
Apr 26
The Powell Fed intentionally killed the American dream.

Don't believe us? Here's a 🧵

Between March 2020 and Sept. 2022, the Fed purchased more than $3.6 TRILLION RESIDENTIAL Mortgage Backed-Securities. This radical action was not authorized by Congress or existing statute...
Woah that's a lot. How do we know? We simply added up the MBS purchases. We got $3.619T. Feel free to check our math. Reinvestment purchases are still purchases, and impact the markets, even if a small portion of the purchases were offset by runoff. /2

newyorkfed.org/markets/ambs/a…
But the Fed must've been allowed to buy, right? Nope. If it didn't have authority to buy $1.25T in MBS during the GFC, why'd it go hog wild on $3.6T in private residential MBS purchases during the "pandemic"? Private MBS lack the "full guarantee" element required by the FRA. /3 Image
Read 8 tweets
Fix The Fed Profile picture
Apr 3, 2022
📢Don't Read This Post: Wall Street Wants to Keep the Fed's Illicit $48 Trillion Repo Bailout Secret

Public outcry is building; Fed pumped $20 trillion in cash "loans" pre-pandemic in Q4 2019 and another $28 trillion in Q1 2020 alone!

See our FAQs here:

occupythefed.substack.com/p/dont-read-th…
Fed apologists don't like use of term-adjusted repo totals. We address why they're important in our FAQ, but the issue is a red herring. Just look at WSOP's chart below for an apples-to-apples comparison to Fed's repo op during the GFC. Fed still says "purely technical measures"! Image
It's insane how unelected Fed officials undertook $10s of trillions in unsanctioned, illicit bailouts for a select few megabanks -- without so much as Treasury approval! All it took was a couple private meetings between the Fed and JPM's Dimon and boom!

Read 4 tweets
Fix The Fed Profile picture
Feb 8, 2022
Thanks for the incredible support. Over 1M impressions here and 90K reads on substack so far. The bigger this gets, the harder it is for MSM to refuse to cover Fed Chair Powell's illicit behavior. We still have a week to get the word out and stop Powell's outrageous confirmation.
This is headline news no matter how they spin it. The private equity centimillionaire who oversees American monetary policy made illicit trades during FOMC trading blackouts, defective public disclosures, and is required to dump millions in holdings by OGE.

Some folks get it.
Americans deserve to know about their Fed Chair's illicit trading activity and disclosure failures, but there are still ZERO MSM articles about it.

cc: @steveliesman @jeannasmialek @michaelsderby @vtg2 @ctorresreporter @ChrisRugaber @cvpayne @mckonomy @colbyLsmith @HorsleyScott
Read 4 tweets
Fix The Fed Profile picture
Jan 13, 2022
🚨 BREAKING NEWS 🚨

Fed Chair Powell signed Ethics Agreement last month requiring him to dump millions in muni bonds; failed to disclose EA to @SenateBanking at confirmation hearing; Biden gave nod despite Powell's own trading implicated in #FedScandal

extapps2.oge.gov/201/Presiden.n…
Bombshell: @OGE quietly released a Dec. 3, 2021 Ethics Agreement signed by Powell requiring him to divest _all_ muni bonds. The language misleadingly states this is due to the Fed's "new investment restrictions," but also references waiver or exemption under 18 U.S.C. § 208. /2
18 U.S.C. § 208 prohibits conflicted decision-making by gov't officials and applied to Fed Chair for decades. The muni bonds in Ex. A are the exact ones the press highlighted as questionable in connection with the Fed's ethics scandal that just brought down Vice Chair Clarida. /3
Read 18 tweets

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