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‘Occupy Chicago’ enters eleventh day of protest

The “Occupy Chicago” protest against corporate influence on the United States government has lasted for eleven straight days. “Occupy Chicago” began on September 23, when around 20 people gathered at Willis Tower, formerly known as the Sears Tower, and then marched to the Federal Reserve Bank to show their solidarity…

Police try to divert Critical Mass ride away from ‘Occupy Chicago’ protest

The Chicago police on Friday attempted to divert the Critical Mass cycling event away from “Occupy Chicago” protesters, who have been camped out in front of the Chicago Federal Reserve Bank. The protesters marched to the intersection where the police had halted the monthly ride, chanting “Occupy Chicago” and “We…

‘Occupy Wall Street’ protest enters sixth day

The “Occupy Wall Street” protest that started on Saturday has lasted six days. The protesters are camped out in New York’s old Liberty Plaza, one block from the Federal Reserve. They’re holding camp in an effort to inspire others to join them, borrowing their tactics from Egyptians who camped in…

GOP Senators propose alternatives to U.S. dollar

Senators Rand Paul (R-KY), Jim DeMint (R-SC) and Mike Lee (R-UT) introduced legislation this week that would eliminate all taxes on gold and silver coins, elevating them from the status of “collectables” to “legal tender” of the same status as Federal Reserve notes. Currently, only the state of Utah recognizes…

Fed holds rate as U.S. economy recovery slows

WASHINGTON (AFP) – The Federal Reserve said Wednesday it would again maintain its key interest rate near zero as the pace of the US economic recovery was more sluggish than expected. “The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee expected,” the policy-setting…

Utah legalizes use of gold, silver as currency

Utah this week became the first state to legalize the use of gold and silver coins as legal currency, the according to the Associated Press. Republican state Rep. Brad Galvez sponsored the bill, which also excludes gold and silver from capital gains taxes, as a protest against Federal Reserve policies.…

Obama vows to expand oil production

WASHINGTON — President Barack Obama, under pressure over high gasoline prices, Saturday committed to annual oil and gas lease sales in Alaska’s National Petroleum Reserve and to speeding up production in other areas. In his weekly radio and Internet address, the US leader admitted that one of the biggest burdens…

Federal Reserve chief Bernanke signals end of stimulus plan

WASHINGTON – Ben Bernanke sought to cast the Federal Reserve as a dependable custodian of the US recovery in a first-ever press conference Wednesday, as the bank began to inch away from crisis-era policies. Heralding a second attempt to halt — and eventually reverse — stimulus spending that has helped…

Federal Reserve plans to end stimulus, but leaves door open for more giveaways

WASHINGTON (AFP) – The Federal Reserve on Wednesday signaled it is ready to scale back support for the US economy, despite what it called a “moderate” recovery. Hinting at a second attempt to edge back from crisis-era policies, the Fed said it would complete hundreds of billions of dollars of…

U.S. Fed loaned Libya-backed bank billions

WASHINGTON — The Federal Reserve lent a Libyan state-backed bank billions of dollars during the financial crisis, documents made public on Thursday have revealed. The Arab Bank Corporation, which is today 59.3 percent owned by the Libyan government, borrowed in slices as big as $1.175 billion from the US central…

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