"Have The Federal Reserve Or Prime Brokers Ever Tried To Manipulate The Stock Market?"

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BondTrader_IHB

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Rep. Alan Grayson: I would like to know whether it is within the Federal Reserve's legal authority to try to manipulate the stock market or the futures market.



Federal Reserve General Counsel Scott Alvarez: I don't believe the Federal Reserve tries to manipulate the stock market.



Alan Grayson: Does the Federal Reserve actually possess all the gold that's listed on their balance sheet.



Scott Alvarez, doing a classic poker body language tell, and taking his time: Yes...



Alan Grayson: Who actually executes the trades for the Federal Reserve in the markets?



Scott Alvarez: The Federal Reserve Bank of New York, which executes trades through Primary Dealers.



Alan Grayson: Can you name one Primary Dealer?



Scott Alvarez: JP Morgan Chase



Alan Grayson: Do you mind if we have a GAO audit to see if there has been front-running or insider trading by them? Do you mind? Is that ok with you?



Scott Alvarez: I am not sure if I have that authority...

......



Grayson: I said manipulate the stock market, or the futures market; wouldn't we want to know?



Alvarez: (silence)



Grayson: Yes or No?



Alvarez: Could you define what you mean by ...



Garyson: I think you know what I mean Mr. Alvarez. Now wouldn't it be very helpful to have a GAO audit on that subject? Wouldn't it?



Alvarez: I don't know what it is you're seeking to audit.



<strong>Make sure you watch the video</strong>

http://www.zerohedge.com/article/ha...nipulate-stock-market-how-about-prime-brokers
 
Doncha just love Grayson?

And it looks like HR 1207? is gonna pass.

If Joe 6 is able to see what the Fed has bought, will he care?
 
[quote author="OC_Boston_Bay" date=1254170372]Armageddon is upon us and I am giddy!</blockquote>
That's only because you have short positions set up, huh? ;)
 
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