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>> FEDERAL RESERVE SYSTEM Latest News

JUL 03, 2013 - Zero Hedge

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Goldman Instructs The Fed: Taper To Keep The Financial System From Blowing Up, But Don’t Tighten

Wolf Richter   www.testosteronepit.com   www.amazon.com/author/wolfrichter New York Fed President William Dudley has spoken. He represents Goldman Sachs, where he was a partner and managing director until 2007. Goldman owns part of the NY Fed and is one of the 21 “primary dealers” – TBTF banks and security dealers from around the world, many of them bailed out by the NY Fed – to which the NY Fed hands the money that it prints on orders from the FMOC, in exchange for Treasuries and mortgage-backed securities, currently $85 billion a month. If it ... Read More

Tags: Goldman Instructs The Fed: Taper To Keep The Financial System From Blowing Up, But Don’t Tighten,  Federal Reserve System Latest News