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Zero Hedge Exclusive: Is State Street Trading For Federal Accounts?

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posted on Jun, 13 2009 @ 04:52 AM
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Zero Hedge Exclusive: Is State Street Trading For Federal Accounts?


zerohedge.blogspot.com

We learned recently on good authority that Federal representatives may have opened multiple undisclosed-type accounts with none other than State Street Global Advisors over the past few months. All of these accounts are allegedly handled by one single trader, who is cocooned and isolated from interaction with other partners.
*SNIP*
Zero Hedge can, as of yet, not vouch for this being 100% factual.
(visit the link for the full news article)




posted on Jun, 13 2009 @ 04:52 AM
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Once again Karl Denninger put it into words better than I could have. The Market Ticker

If this is true and especially if The Fed is involved, there is a major problem with the law.

See, The Federal Reserve is explicitly not permitted to buy anything that doesn't have the full faith and credit of The US Federal Government behind it. It is that fact (found in Sections 13 and 14 of The Act)...

The Fed's charter and statement of operation is that liquidity operations are to be performed through the NY Fed dealing desk. That transparency is important...

If The Fed is dealing through one "special trader" at State Street, then all such transparency of action and intent is GONE.


Put simply: If this is true The Fed has been inflating the market.

To put it even more simply: The Fed might have just broken it's own charter! Which means it needs to be dissolved!

zerohedge.blogspot.com
(visit the link for the full news article)



posted on Jun, 13 2009 @ 05:04 AM
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reply to post by Tentickles
 


Its insider trading, if its true State Street possibly could have mirrored this investors decisions timing the market for profit. Nothing is really amazing these days, just like two Japanese men were caught with 132 Billion in USD bonds at the Swiss Italian border. Anyone heard of the PPT, the Plunge Protection Team ?


State Street to Repay TARP Proceeds to the US Treasury
09/06/2009

Company to be in First Wave of Stress-Tested Banks to Repay Funds

BOSTON – June 9, 2009 – State Street Corporation (NYSE:STT), today announced that its application to repay the full amount of the US Department of the Treasury’s investment in the company under the TARP Capital Purchase Program (CPP) has been approved.

pr.statestreet.com...



[edit on 2009/6/13 by reugen]



posted on Jun, 13 2009 @ 05:14 AM
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Good find.

S&F

Thanks for explaining it is simple terms for us people who do not understand economics too well . . . . or not at all



posted on Jun, 13 2009 @ 05:17 AM
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reply to post by xxpigxx
 


No problem! Deny Ignorance goes far!

I do so hope it is true so we can get rid of the Fed.



posted on Jun, 13 2009 @ 05:21 AM
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My thoughts are that this manipulation has been going on for ages - gold and silver, and bonds (which is supposed to be ok I guess) and the market.

Its nice to see someone finding the hand thats full of bills where it shouldn't be though - hope this turns explosive.



posted on Jun, 13 2009 @ 08:36 AM
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Originally posted by Amagnon
My thoughts are that this manipulation has been going on for ages - gold and silver, and bonds (which is supposed to be ok I guess) and the market.

Its nice to see someone finding the hand thats full of bills where it shouldn't be though - hope this turns explosive.


Most likely it has been going on for a very long time under our noses, maybe this will be the smoking gun.



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