Buffett Calls Federal Reserve History’s Greatest Hedge Fund

“Billionaire investor Warren Buffett compared the U.S. Federal Reserve to a hedge fund because of the central bank’s ability to profit from bond purchases while accumulating a balance sheet of more than $3 trillion.”   Continue reading on bloomberg.com

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How Big Banks Can Steal Your Home From You Even If Your Mortgage Is Totally Paid Off

“Did you know that the big banks have a way to legally steal your house from you even if you don’t owe a single penny on your mortgage?  Big banks and hedge funds are buying billions of dollars worth of tax liens from local governments all over the nation, and they are ruthlessly foreclosing on […]

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China Prepares to Bail Itself Out

“There has been an increase in the value of non-performing loans (NPLs) in the banking system since Q3 2011 (see Chart below), as the economy has slowed. At face value, this problem does not yet appear too serious, given that NPLs are less than 1% of outstanding loans, according to official data. However, the real figure […]

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