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Fed To Hold Second June Meeting Discussing Discount Rate, This One Open To Public
The Fed has announced that it will hold it second meeting on the topic of the Discount and Advance Rates in as many weeks, this coming Monday. As readers will recall, we disclosed that on June 7 the Fed was holding precisely the same meeting, which at this point is probably the 4th in 3 months. Yet there is a major difference this time around: while all prior meeting were held under a 9(A)(i) exemption, which made them closed to the public (as recommended by Ben, Vice Chairman Kohn and Governors Duke and Tarullo), this time the meeting is explicitly, at least so far, open to everyone. This is the first time in 2010 that a discount rate decision meeting is open to the public. We wonder why: doesn't the cabal realize what the definition of "utmost secrecy" is? All readers located in the neighborhood, are kindly invited to join the Bernanke and company ZIRP party: Monday, 12 pm, 20th Street and C Streets, N.W., Washington, D.C.
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Like, ohmigod! The Fed now has a social media strategy! I'm going to blog, Tweet, foursquare, Gowalla, update my Geocities page, and post pictures of my genitals on Flickr in celebration!
Getting out in front of a PR problem has never been so obvious.
Is it BYOB? I bet it'll be a hoot!
No. I hear they will be supplying the Kool Aid...
Bring Your Own Bernanke? heh heh...
I cant wait for an undercover protester to enter the boardroom and once the meeting starts, jump up and start rubbing Fed Reserve notes on themselves decrying how the fed should be in prision. However, something tells me the meeting wont even be televised.
EDIT: Tyler, could you at least get a couple of project meyhem members to cater the meeting lunch?? would be worth a laugh.
If I attend, can I steal a few Fed emblazoned pencils, pens, mugs and coasters? Or will I be caught and imprisoned in the dungeon downstairs next to the Gold, my real reason for thieving?
Well, maybe my motives also include a little pay back as well. You know, for all that gorgeous inflation I suffered from in the 60's, 70's, 80's, 90's and 00's. I figure 4 pencils, 5 pens, 2 coffee mugs and 10 coasters should make it even.
And a few Gold bars stuffed in my pants on the way out. I'm well hung so they won't notice the difference. I walk funny anyway. :>)
CD, we also need a very attractive male/female combo host role filled by a Mario Lopez and insert any attractive blonde who can read cue cards. This will be uber popular on social media sites.
I picture it more Planet of the Apes style with the mute girl.
Take your stinking paws off me, you damned dirty ape!
Take all you can, beer mugs, pens, pencils, coasters, key chains, but unfortunately you are likely to be very disappointed. There's no gold to be found anywhere.
After making mention of the fact the meeting is open to the public at ZH, no doubt we can expect an "ooops"... my bad by Ben and the cabal... this meeting will be as black as the floor of the GoM... well, except for the Klieg lights and all.
A ridiculous notion in an effort to fake transparency as financial reform legislation continues. No doubt they will discuss nothing of substance if it is open to the public.
My thoughts exactly. The topic, the discussion, the outcome is already rehearsed. Great
Theatre!
Also, this meeting has nothing to do with the current price of gold, which still confuses Ben.
You insinuation is correct, this has EVERYTHING to do with the price of gold.
Bernanke is losing control of the situation, and he knows it. he knows he needs QE2 to save his bankers, but he also knows that the first hint of the level of QE2 he needs will drive people into a panic to dump dollars for hard assets. So this is the prelude - he has to make people believe that the Fed is a responsible warden of the USD.
+1.....the warden is our friend. Check.
+ a cool Trillion
This is pure theatre to try to fool people into believing the fiat currency called the USD isn't controlled by a maniac.
Don't believe it.
+1260
Yes, obviously the top for gold... twice, caught a couple of minutes of CNBS today... both times I was given the "inside scoop" on it!
I wonder... do the babes use que cards, or teleprompters to remember all this priceless advice, or do they actually know all this stuff?
Memo from B.B.: Guys -- Let's have a meeting to raise interest rates so we can suck even more money out of Europe (after Switz, that is), so we can secretly funnel the money back to the ECB, so they can buy worthless Greek and Spanish bonds worth only 50 cents on the euro. Remember, the intent is simply to create the perception of action while doing nothing.
Can the Public ask questions?
Will in-flight motion sickness bags be provided for attendees?
CD - i hear there is store in the basement you could buy some memoralabia....it will soon be history.....
oh fuck! you mean we may enjoy the privilege of a little information as to what these cunts are doing with our money?
While we're being open and forthcoming, can we take a look-see at where them bailout monies went?
(lol)
I think i'll take a 24 karat gold cross into the room and sprinkle some holy water on Bernanke head as he is the DEVIL......lets not forget 666 low on the S&P 500....the sign of the beast.If they confisicate my cross i guess i'll have to hurl my shoe(I will of course intentionally be wearing heavy Caterpillar boots on the day)and aim for his forehead just to get even.
Bring Your Own Pitchfork
Typical upper management solution. When something goes wrong promote a fool and make him in charge of it.
The Fed has purchased so much garbage from these banks they don't need the discount window. So now let make the meeting open so we can claim transparency over something that doesn't matter.
Who's with me on wait staff?
Tyler's in the john, of course!
EURO bullish signals I warned of during the past few weeks - has resulted in the recent rally and the daily chart remains bullish.
The DOW/SP500 counter trend rally suggested on June 13 continues, however ...
http://stockmarket618.wordpress.com/about