A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

Recent entries:
“What looks like half an apple?"/"The other half.” (10/20)
“Why is food better than men?"/"Because you don’t have to wait an hour for seconds.” (10/20)
“Trains are just boring rollercoasters” (10/20)
“What has no legs, but can do a split?"/"A banana.” (10/20)
“My landlord wanted to come talk to me about the high heating bill. I said, ‘My door’s always open’’ (10/20)
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Entry from September 18, 2012
Fedury (Federal Reserve + U.S. Department of the Treasury)

"Fedury” (Federal Reserve + U.S. Department of the Treasury) is a financial nickname that has been infrequently used (mostly by ArkansasAngie or Angie Pratt). The portmanteau name has been used on several financial blogs.


Wikipedia: Federal Reserve System
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system.

The Congress established three key objectives for monetary policy—maximum employment, stable prices, and moderate long-term interest rates—in the Federal Reserve Act. The first two objectives are sometimes referred to as the Federal Reserve’s dual mandate. Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation’s monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions. The Fed also conducts research into the economy and releases numerous publications, such as the Beige Book.

Wikipedia: United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue. The Department is administered by the Secretary of the Treasury, who is a member of the Cabinet.
(...)
The Treasury prints and mints all paper currency and coins in circulation through the Bureau of Engraving and Printing and the United States Mint. The Department also collects all federal taxes through the Internal Revenue Service, and manages U.S. government debt instruments.

The Housing Bubble Blog
JULY 13, 2008
I Did The Right Thing Not Buying A House, Now What?
(...)
COMMENTS
Comment by Professor Bear
2008-07-13 14:22:27
“By the way, I heard the other day that if FNM and FRE stopped lending on apartments, market cap rates would go up by 200bps almost overnight. Even if they keep lending, they’ll need to raise rates to attract the capital to buy the notes.”

I thought this is where the Fedury comes in, with liquidity to backstop GSE debt auctions in case the private market overestimates the yield.

Swamp Report
June 26, 2009 7:28 AM
Friday Morning Interneting
Posted by: ArkansasAngie
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When the FEDury finally does slow down its spending what happens? — The temporary problem: Rolfe Winkler — Spending Money is easy … stopping is a whole lot harder
–Alibaba.com
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Duh!  Hello Congress … the power of the FEDury is a scary thing.  Personally I don’t believe in benevolent rulers or the Easter Bunny — Bernanke Grilling May Weaken Case for Fed as Risk Regulator
–Bloomberg

MarketPosts.com
Fed, Treasury (Fedury) decides who the winners are.
Date: 2010-11-08T05:49:49.273
Author: Angie Pratt
Byline: Editor
Editor note: Who takes the hit for the bad economy? The Fedury is busy picking winners and losers. The method they have selected is the printing press.
Number of Views: 331

So … just where is the money going? Ben Bernanke et al are going to spend $850 billion on treasuries over the next six months. That’s not the “money” being questioned. We know where the Fedury is going to get its money … the printing press.

Pragmatic Capitalism
THE BALANCE SHEET RECESSION CONTINUES
03/22/2011 12:54 AM
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COMMENTS
Mediacritas
03/23/2011 at 8:17 AM
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In the past it was more discrete. For example (using Japan and USA):

1. Fedury decides that base money needs to expand
2. BoJury decides that base money needs to expand
3. Fed and BoJ talk.

Naked Capitalism
MONDAY, SEPTEMBER 17, 2012
Is QE3 Yet Another Stealth Bank Bailout?
(...)
COMMENTS
ArkansasAngie says:
September 17, 2012 at 6:23 am
It kept the stock market high. A high stock market keeps the pensions up.
The income effect? Well … income is transferred from savers.
And … it allows the Fedury room to print money in synch with the EU

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Tuesday, September 18, 2012 • Permalink