Federal Reserve Vice Chairman Richard Clarida rotated between $1-5 million from Pimco bond funds into stock funds on February 27, 2020, just one day before Fed Chair Powell’s emergency statement about coronavirus risks. Clarida sold multiple ETFs during the market’s COVID-19 downturn and …
Richard ClaridaFederal Reserve BoardJerome PowellElizabeth Warrenfederal-reservetrading-scandalconflict-of-interestrichard-claridainsider-trading+2 more
US Treasury Secretary William Simon negotiated a pivotal agreement with Saudi Arabia that established the petrodollar recycling system, fundamentally reshaping global monetary dynamics. Simon convinced Saudi Arabia to sell oil exclusively in US dollars and invest oil revenues in US Treasury bonds, …
William SimonAhmed Zaki YamaniRichard NixonKing FaisalHenry Kissinger+2 morepetrodollar-systemmonetary-policyoil-politicsfinancial-systeminternational-finance
President Roosevelt signs the Banking Act of 1935 on August 23, 1935, fundamentally restructuring the Federal Reserve System to centralize monetary policy authority in a reformed Board of Governors in Washington rather than the twelve regional Federal Reserve Banks, which had been dominated by …
Franklin D. RooseveltMarriner EcclesCarter GlassU.S. CongressFederal Reserve Board+1 morefinancial-regulationnew-dealfederal-reservebanking-reformmonetary-policy+1 more
President Roosevelt signs the Gold Reserve Act on January 30, 1934, nationalizing all gold holdings in the United States, transferring ownership of Federal Reserve gold to the U.S. Treasury, and authorizing the President to set the gold value of the dollar between 50 and 60 percent of its previous …
Franklin D. RooseveltU.S. CongressFederal ReserveWall Streetbanking industry+1 morenew-dealmonetary-policygold-standardfinancial-regulationcorporate-resistance
Congress overrides President Rutherford B. Hayes’s veto on February 28, 1878, to enact the Bland-Allison Act, requiring the U.S. Treasury to purchase between $2 million and $4 million of silver bullion each month and mint it into legal tender silver dollars. The Act represents a partial …
Richard P. BlandWilliam B. AllisonRutherford B. HayesU.S. Congressmonetary-policycorporate-influencefinancial-system-capturegilded-age