Unacceptable - Congressman Slams Yellen For Prioritizing Foreign Banks Over America's Interests

Oh boy, this may get very hot, very quickly. Usually things don't go well for people who "mess with the Fed". How could it, when you can create money out of thin air (keyboard) and deposit it into accounts with no oversight. This will be interesting.


"This Is Unacceptable" - Congressman Slams Yellen For Prioritizing Foreign Banks Over "America's Interests"

www.zerohedge.com...

Finally, the Fed is in Trump's sights.

In what may be a harbinger of major headaches to come for the Fed, a recent letter (Jan. 31) penned by Republican representative Patrick McHenry, Vice Chairman of the Financial Services Committee, has lashed out at Janet Yellen, telling the Fed chair in no uncertain terms that "despite the clear message delivered by President Donald Trump in prioritizing America's interest in international negotiations, it appears that the Federal Reserve continues negotiating international regulatory standards for financial institutions among global bureaucrats in foreign lands without transparency, accountability, or the authority to do so."

His assessment of this ongoing activity by the Fed: "This is unacceptable."

McHenry's emphasis is on "international forums" such as the Financial Stability Board, the Basel Committee on Banking and Supervision, and the International Association of Insurance Supervisors, and he notes that "continued participation" in these forums must be "predicated on achieving objectives set by the new Administration", something which will "likely require a comprehensive review of past agreements that unfairly penalized the American financial system in areas as varied as bank capital, insurance, derivatives, systemic risk, and asset management."

He then adds that "the secretive structures of these international forums must also be reevaluated" because when the deals were negotiated, "international standards were turned into domestic regulations that forced American firms of various sizes to substantially raise their capital requirements, leading to slower economic growth here in America.

interesting is not the word for this,
with trump as president, making crappy deals in the name of the U.S., isn`t going to fly.
if deals are going to be made in the name of the U.S. you can bet your a$$ that trump will want to be in on the deal making.
This is going to be epic, this is unprecedented ,there is only 2 ways this can end, either trump will be dead or the fed will be dead.

this is going to be history in the making and we are all going to have front row seats because trump is going to twitter every bit of what the fed does and says that makes it hard for him to get a good deal.

I didn't even realize this was going on. I thought our government had the final say so as to regulating the Federal Reserve. It is much worse than I thought, the Federal Reserve seems not to be accountable to our government at all.

a reply to: rickymouse

the MSM won`t report on this because it`s way above their level of understanding they are more comfortable with reporting on the crowd sizes at various inaugurations.
this is way above their pay scales they are complete idiots.

originally posted by: rickymouse
I didn't even realize this was going on. I thought our government had the final say so as to regulating the Federal Reserve. It is much worse than I thought, the Federal Reserve seems not to be accountable to our government at all.

It's a privately owned and operated bank that is seemingly not held accountable to any laws or regulations.
The fed has our governments nuts in one hand and yours in the other.

Allowing that private bank to control our current was the single worst "deal" to ever happen to this country.

a reply to: Tardacus

Or they will line Trumps pockets and it will be business as usual

a reply to: infolurker

This interview of Catherine Austin Fitts is well worth checking out . Trump has many arms of the Octopus he has to deal with as most are aware of . Most of the protests are being made by different arms . Money is one arm and she does a good job of presenting the snap shot during this early Trump time . This piece should also show that its not some small group within the US but is all over the western world and deeply embedded and heavily invested in the status quo

European leaders are calling newly elected US President Donald Trump “a threat” now. The American chief executive now joins Russia’s Vladimir Putin and jihadist terrorism as Europe’s biggest boogeymen. It’s only a matter of time before the EU levies sanctions on the people of the United States, or vice versa. The European elites are beset by enemies of global ultra-liberalism, yes indeed. journal-neo.org...