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Fed Closed Meeting Discussing Discount Rate Hike Starting At 11:30 AM Eastern
As Zero Hedge first reported, the Fed is beginning its meeting discussing whether or not to hike the Discount Rate in a few minutes. The meeting is closed to the general public. We will bring you any decision reached by the Fed members as soon as one is disclosed (if any).
Full release
It is anticipated that a closed meeting of the Board of Governors
of the Federal Reserve System at 11:30 a.m. on Monday, April 5, 2010,
will be held under expedited procedures, as set forth in section 26lb.7
of the Board's Rules Regarding Public Observation of Meetings, at the
Board's offices at 20th Street and C Streets, N.W., Washington, D.C.
The following items of official Board business are tentatively
scheduled to be considered at that meeting.
Meeting date: April 5, 2010
| Matters to be Considered: | |
|---|---|
| 1. | Review and determination by the Board of Governors of the advance and discount rates to be charged by Federal Reserve Banks. |
A final announcement of matters considered under expedited procedures
will be available in the Board's Freedom of Information and Public
Affairs Offices and on the Board's Web site following the closed
meeting.
»
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One more "extended period" announcement and long bonds could collapse with gold, silver, oil skyrocketing. This is a dangerous situation.
It takes 15 minutes to complete all of the secret handshakes, then the meeting starts....
+100 That is quite the image.
retina scans and decoder rings baby. Anyway my take on the meeting is that it is simply posturing for the public to lead them to believe that they are embroiled in tough conversation about keeping the printing presses on. This is likely how the meeting played out so far:
Ben: Welcome Gentleman. Javier will be by to take your drink orders, dirty Martini for me please. As for the rates well. 0% for at least another 3 years. Any objections?
Hoenig: You guys are out of your mind.
Ben: Put a sock in it Tom. I call the battleship in monopoly and of course will be the banker as always. In 2 hours we will be out of here.
Excellent
Hoenig: Where's the remote? Is Tiger on yet? Where's my beer? Is this an AA meeting or the Fed, for chrissake? Got any more of those spicy nuts, B-Mac Daddy?
A secret meeting do make sure any decenters are brought into line prior to the public meetings.
A transcript of the meeting.
BERNANKE: I've called this meeting to try to figure out how we can knock the price of gold down as it is again showing major signs of a breakout.
YELLEN: What's for lunch?
BERNANKE: What about an IMF gold sale announcement?
YELLEN: The chicken salad here is terrific!
BERNANKE: How about we raise the discount rate again?
YELLEN: Can I get a diet coke please?
BERNANKE: Janet, can you please stop thinking about food and focus on the gold issue?
YELLEN: Sorry Ben, we are clearly out of options so let's eat!
LOL. Pretty funny, Silver
Edit:
YELLEN: Sorry Ben, we are clearly out of options so let's eat the poor!
they will yell at hoenig for a bit, then announce no change to rates. with fed fund hike already priced in, dollar will crash
What I have never understood ifone someone could explain it to me.
if the market was manipulated, the stock market is a pimple on the bond markets ass,would you really screw bondholders who fund the government?
no
Just fluff to assert a veneer of control. Fed policy is doomed as the numbers become less relevent and confidence is what matters most.
I'm sure the topic of LBMA's exposure as a 100:1 paper Gold ponzi scheme will be up for discussion...
Some one get me a broom! BS, you are done! Go home and dip your balls in gold and silver one last time; David Rockefeller is on the phone, and he wants to "m" "m"eet with you. He wants to remind you that you were supposed to keep the lid on the market until the release of the Hollywood Futures Index. BS, you are short by two weeks. Now the spin is, "Great jobs report!" Which only the stupid rich people are buying. "Well, I think I need another Coach purse then if everybody else is doing well. Finally! I will go pop a few Zanex before I go." BS, you are showing your cards! Didn't David teach you to keep your cards on the table?! "You look at them one at a time." What the hell BS, are you going to blame LBMA? The "M"arket "M"anipulation in gold/silver has gone on forever, and you are going to blame the LBMA?! All David asked for was two more weeks! Jesus man! Epic FAIL!
It doesn't matter what they decide; the market has already moved ahead of them as always. The FED just follows along, so they might as well just go to lunch. They are impotent.
Loud noise heard from inside the room. Sounds like something hit the table...
maybe it was the Shit hitting the fan.
KING DOLLAR.
You are 3 days late for this one.
http://www.youtube.com/watch?v=6TwEYuues6Y
Ill bet they are watching the Tiger Woods interview.
.
Any word yet? It is almost 3 pm and they usually make their announcements around this time.
A secret meeting with secret handshakes,
to benefit the secret few,
with secret bank accounts,
and secret senators and judges in their back pockets,
the real outcome of the meeting will be secret.
Sheeple version annouced on CNBS later today.
Democracy, like communisim, great idea in theory.
It's just as well they keep it secret. If any of us really knew what these people knew, we'd probably kill ourselves in horror.
We're all waiting for the bomb to drop now, that's all. You know I'm right. Buy gold or buy bonds or buy ammo and it doesn't matter. The bomb comes to town and takes it all out and a month later your neighbors are BBQing one another.
Fascinatingly, nothing at 5 p.m.....that if freaking spooky, IMHO.
That means Bernanke and Yellen see no reason for change, so nothing will change. Hopeless.
RIGHT? WTF?!?!?! "Suicide" pact?!?!?!?!
"Ok, so now that we have established that it has all gone to plan, we have robots that will take over our lives, and we are all moving to the caymens." BS knew that this day would come. After all of these "meetings" with Congress, he had become very tired. 'God I need a hit of Peyote right about now', he thought. Then out of nowhere Janet Yeelin quipped, "Shit! I forgot my swimsuit!" "I'm not going." Announced Hoenig. "We are all going." Replied BS. "No I'm not going, I'm staying here." "Hes crazy! What are you going to do here? Burn with the serfs? Well, whatever then, give me your swimsuit." "I didn't bring a swimsuit." "Well I need a swimsuit! Someone give me a swimsuit!"
Fed Ends Meeting Without Discount-Rate Move
http://blogs.wsj.com/economics/2010/04/05/fed-ends-meeting-without-disco...Gotta love that. Zip.
I think we just got punk'd by the Fed.
hahaha!
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