Federal Reserve Visits Pawn Shop

Well, maybe it’s more like taking an advance on your paycheck.

From wallstreetexaminer.com:

The Fed was hit with withdrawals of $83.3 billion last Wednesday, the largest withdrawals from its deposit accounts that were not associated with quarterly tax payments since February of 2009. $7 billion of that was the net cash transferred to the US Treasury from its note and bond sales less outlays. The Fed still had to meet the other $76 billion.

This stuff is way over my head, but I did read up on some of it. This “Reverse Repurchase Agreement” sounds like a bunch of malarkey.

“To Serve Man”

 

 

Hey everybody! There’s still some Kool-Aid in the punch bowl!

I mean, they’re backed by Goldman Sachs. What could go wrong? It’s not like they’ve ever deceived their own clients. Oh, wait.

I remember when Groupon was getting ready to get bough by Google. But, their finance guy blabbed about it and Google pulled out within hours of learning about the leak.

Groupon raises $700 million in massive IPO | Reuters.