By Pam and Russ Martens
Wall Street on Parade
Thursday, August 6, 2020
At Fed Chairman Jerome Powell's press conference on July 29, he persisted in his explanation that all the Fed's bailout programs are really about helping the American people get back on their feet. Here's one more, among a growing mountain, of reasons to question that.
Sri Lanka is an island country situated in the Indian Ocean and located about 9,000 miles from the United States. Its population of approximately 21 million ranks it the size of Florida. Despite those statistics, Sri Lanka somehow became the main participant in an emergency lending facility set up by the Fed.
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According to an official statement by the Central Bank of Sri Lanka (CBSL), "The CBSL has decided to pledge a sum of US$1 billion worth of U.S. Treasury Bonds held in the CBSL reserve and enter into the above type of repo facility with the Fed. This would permit the CBSL to raise US$1 billion in cash form when required.
"When this repo facility is settled by the CBSL, there will be no change in the CBSL reserve position as the Fed would release the pledged bonds back to the CBSL. The cost to the CBSL would be the applicable repo fee, which is about 0.35 percent per annum." ...
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at email@example.com.
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
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