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Fed's Fisher Says Would Prefer Inflation Only Mandate For The Fed
From Dow Jones: "An inflation-only mandate would be more appropriate for the U.S.
Federal Reserve than its current dual goal of managing price stability
and facilitating job creation, U.S. Federal Reserve Bank of Dallas
President Richard Fisher said Friday. "I do believe that the full employment mandate puts us on a slippery
political slope," Fisher said in a panel discussion in Brussels.
"Personally, I would prefer to have a single mandate." Somehow we doubt this statement was preapproved by your friendly Ministry of Truth big brother.
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at this point they must be fighting with each other
i feel his pain...there are all these annoying unemployed people running around and making noise.....
if they just had to deal with inflation, they'd be able to continue on saying there is none and ignoring everything.......like the flames building around our ankles.....
We're here for one reason, goddamnit! To take your money. To skim the cream. To fleece the sheep! WTF...get your own goddamn jobs!
Let them eat iPad and yellowcake.
@ Seasmoke
close but no cigar. the fed heads are all out giving speeches. all saying different things. it's called information overload with the purpose of confusing everyone. you wanted an open fed... hehe, so now you get too much info. it's all meaningless.
To keep the private bankster Federal Reserve going they MUST have inflation to keep the PONZI scheme (of sorts) rolling and they know this.
L = LOAN
I = INTEREST
P= LOAN PAID
The banksters create L out of thin air yet they never create the money for I. As such, you can NEVER solve the equation below:
L + I = P
So they MUST have inflation to keep more and more dollars flowing to help cover the impossible math above. Of course eventually the "I" keeps compounding and the Federal Reserve banksters need more and more "L", or creating dollars out of thin air, to keep the fraud from imploding.
The Fed's mandate is to inflate the savings out of the US and to destroy the middle class.
Fuck you Jekyl Island demonspawn, I pray the Fed doesn't celebrate 100 years of oppression.
They have clearly failed to achieve their two stated mandates...
Is there a third option ?
Oh yeah, the Armageddon option ... QE-III
This "end the dual mandate" crap is the Republican leadership's attempt to appease people supporting RP's end the fed argument.
Paul Ryan and Senators Corkley & Grassley (the latter two disemboweled the Senate version of Paul's audit bill) have been talking about this for nearly a year. It sounds like they're trying to modify the Fed to appease voters and detract support from RP's bill to audit. (currently @ 101 cosponsors.)
Seriously, Grassley's Republican chops stop immediately after the (R) in any and all statements, oral and written. After that, he's just one more Big Government Progressive.
Seriously, i don't give a flying fook what this criminal says. If he said it was daytime, i would automatically assume it was night-time.
These criminals need to pay the ultimate price.
...Turn them into poor people?
No give me power to create money and over news networks and have them scramble around like a bunch of roaches to what I would decide next.
I would play episodes of Scooby Doo, immediately followed by a newscast stating their bank accounts were frozen. Then after a few hours of I love Lucy, I would announce the "SHITHEAD ACT" had passed the congress unanimously. This would entitle them to be BITCH-SLAPPED for a few hours. After Sanford and Son (just to get them used to their new lifestyle) I would give them all their money back but announce that it was worth about 75% less because China makes lovely high-quality items such as poisonous dog food and crayons.
This would force me to come on TV and state my new initiative of how we must excel in engineering and the sciences. This way we can make better toxic crayons and dog food. Naturally this would be met with thunderous applause and I would fake a few tears so as to show how my emotions are stirred by our new bright future.
http://www.imdb.com/title/tt0086465/quotes
Billy Ray Valentine: [watches Louis clean his shotgun] You know, you can't just go around and shoot people in the kneecaps with a double-barreled shotgun 'cause you pissed at 'em.
Louis Winthorpe III: Why not?
Billy Ray Valentine: 'Cause it's called assault with a deadly weapon, you get 20 years for that shit.
Louis Winthorpe III: Listen, do you have any better ideas?
Billy Ray Valentine: Yeah. You know, it occurs to me that the best way you hurt rich people is by turning them into poor people.
bring on inflation bitchezzzzz!
its hysterical that Fisher said they have be careful they don't get behind the curve....
are they fuckin' kidding? gas is going to be five bucks by memorial day,
groceries are skyrocketing...
heating oil is moving to the moon...
but hey, there is no inflation!!!!!
its hysterical that Fisher said they have be careful they don't get behind the curve....
are they fuckin' kidding? gas is going to be five bucks by memorial day,
groceries are skyrocketing...
heating oil is moving to the moon...
but hey, there is no inflation!!!!!
Not to mention the inflation in double posts... ;)
I'm telling ya' men, the FedFraudsters are feeling the heat.
Obama is starting to get serious about recouping lost support from the (former) middle class in preparation for his 2012 re-election run, and/or the Ben Berbankincide & Co. have received major news of something that will allow them to duck and cover from any more QE.
Look at this continuous string of comments I just plucked from RanSquawk (look at the last link, too):
Edit - I can't believe I forgot the /s !!!
Planned destruction of america for 2 years, now rebuild for an election? People just dont get whats really going on here.
not only do i not think the Fed is feeling any pressure at all but the only advocate of hard money in the form of KC Gov Hoenig is retiring. My personal view is "it's a visceral hatred of bailing out Wall Street" but that's just a guess. In any case "waiting for change at the Fed is like waiting for Franco to die." (you all probably don't even know what or who i'm talking about when i say that) Anywho, "could be a while....tho there be many claims to the contrary."
After transferring the wealth of the Middle Class to the Wall Street banksters, what's Braack gonna do? Ask them to give it back to the people it was stolen from? How's that gonna happen? He will need to make an explicit promise they can steal twice as much and dental fillings, too, if he succeeds. Not that he would have any problem with that...
Only problem with that mandate is that when measured with the current methodology there's no inflation. Is that a subtle way to indicate that QE will continue 4ever after all? ;-)
by that same token Fed is vestigial ooze of pustules and pox.
if no inflation then no (inflation) policy
or
if no inflation then nothing to mandate
if no inflation then no need to print
if no inflation then no need for chairsatan
if no inflation then no need to comment
Only one mandate for the Fed? ROFL..... LOL LOL
Well if the FED focused on it's original mandate which is to protect the value of our currency inflation wouldn't be a problem.
The Fed never got the memo on that mandate. The Fed's entire reason detente is TO inflate.
http://www.google.com/url?sa=t&source=web&cd=1&ved=0CBkQFjAA&url=http%3A...
It wouldn't be a problem, but the superpower across the pond whose MIC dwarfs ours and dictates world political, financial, and military policy would...
minor details :/
If the Fed were serious about that mandate they would dissolve themselves. Central banks are set up to manipulate currencies, not protect their value, no matter what anyone says about its official charter. And by manipulate, I mean 'debase' in order to fund government expansion and to pocket profits for the owners of the central bank. A currency that maintains its value is the opposite of what governments and banks want...not even mentioning a currency that rises in value.
Inflation/Currency Devaluation...well...they have been quite successful on that front. I guess it's wise to focus on what you do best.
Scotch please.
The "Rule the World" mandate will never be relinquished.
http://www.youtube.com/watch?v=DgUbHPL9hfI
Drupal...!
Burn the heretic. Who brought the matches?
Not that this pertains to any topic in particular, but I just composed this in an email to a buddy and wanted to share, for what it's worth...
Memo
From: The Big Boys
To: Everyone Else
Subject: Of course the game is rigged.
Serfs,
Welcome to our little club, known as Wall Street. We let you kids play here so long as you behave and don’t make a mess of the place, and we’ll even let you roam the halls and drink from the cash bar when we’re feeling magnanimous. But please be advised, you are guests here. This is our club; we, and we alone, make and change the rules – and we are under no obligation what so ever to apply those same rules to the Members.
Got that? The rules apply to you, the guests.
Not to us, the members.
Oh, and that pretty-looking VIP room with the runway-model beautiful and well, ahem, skilled young ladies? Uh, no; you do not have access to that room.
Members Only.
Have fun, and please do remember to bring your checkbook or, preferably, gold.
Warmest Regards,
The Big Boys
Monty Python and the World Economy: Tis But a Scratch | by Simon Black, Sovereign Man
QUOTE:
Monty Python and the Holy Grail (1975) is easy one of the most brilliantly comical movies of all time. One of my favorite scenes is the fight between Arthur and the Black Knight, the one in which Arthur handily dismembers his adversary in combat
It’s become the source of household jokes around the world– the Black Knight refuses to acknowledge having lost both of his arms and legs to Arthur’s sword, insisting instead, “Tis but a scratch…”
Apparently the Black Knight has been giving lessons to political leaders and central bankers in this art of self-deception and ignoring reality… because that’s exactly what’s happening around the world. …
Never mind that prices of just about everything ex-iPad around the world are increasing, and inflation rates from Vietnam to the UK are painfully high. Tis but a scratch…
Reality is very simple for the rest of us. We know what we pay for things, and we know that amount is increasing. We know nuclear meltdowns are dangerous. We know that fake economic growth created by printing money is nonsense. We know that massive deficits are destructive. We know that war is counterproductive to peace and stability.
The elite few at the controls, however, are overindulgent in self-deception… or outright lies. In either case, they’re only fooling themselves.
Relying 100% on the system that they control for the essentials in your life– your food, your water, your energy, your safety, your livelihood, your savings– is a recipe for disaster. It’s like letting a known sicko pedophile babysit your kids, or giving a serial burglar the keys to drop in on your house while you’re on vacation…
http://www.lewrockwell.com/
IPad is about to become ISuck without those Japanese parts.
IPad is gonna be IGlow with those radioactive Japanese parts.
If by "we" he means the small number of people who aren't just glued to the idiot box night after night for a small bit of solace then yes, he is completely correct. The problem therein is the fact that that "we" are so few.
Until J6P starts to really feel the pain, or a mass extinction of every shit reality tv show happens, we will continue to march blindly towards the cliff like good lemmings.
Come on Tyler. Link now or forever hold your Dick Fisher.
BRUSSELS | Fri Mar 25, 2011 8:40am EDT
BRUSSELS (Reuters) - Dallas Federal Reserve Bank President Richard Fisher said on Friday there were signs that liquidity was not just abundant, but excessive in the United States.
http://www.reuters.com/article/2011/03/25/us-fed-fisher-idUSTRE72O2UP201...
Abundancy of liquidity being excessive is even in question with travel ticket printer PCLN at $500? Shows how ultra-insane everything is now.
Fisher's too late and a dollar short on the inflation mandate. All the FED can do now is talk about inflation.
http://www.youtube.com/watch?v=agi8PUmlAKU
What's happening is the that the shred of conscience he has left actually made it into a thought and he is realizing that although the party is over, he feels bad about turning out the lights.
Could be, I hope thats that reality of all this. Frankly I think none of it really matters as a very large series of events is soon upon us, Japan/Libya style. Then, no one will care about some stock markets, theyll be looking for a gun and willing to pay any price for it.
Bottom line. The printers are still in hyperdrive. Until then, the Fed's words sound like Charlie Brown's teacher.
Meanwhile, my silver and gold remain where their grubby little hands can't reach.
Fed puppet speak. My dog makes more sense and is a better person than he will ever be.
Quantative destruction of the empire, is now entering the final phases.
Have they announced a date yet for the ceremony where Obama gives Bernanke the Medal of Freedom?
They have only one mandate - take over the world.
Mandate - A Date with a man.
How typical of these assholes to believe they can talk a bit and just like that make everybody forget that they are printing dollar into oblivion.
KC Fed President Hoenig decided to leave the Rat-infested ship...now the other Fed Rats are getting worried:
http://www.bloomberg.com/news/2011-03-25/kansas-city-fed-begins-search-for-successor-to-retiring-hoenig.html
see also:
Chicago Fed’s Evans Sees Less Need for More AccommodationThe wheels are beginning to come off.
Now, if he retires to "an undisclosed estate somewhere in the pacific northwest", then we know it's game time.
Inflation is theft of private wealth by dilution.
Wow. Such Reform. Going from targeting bullshit BLS and CPI, to just bullshit CPI. Do we pay these guys enough?
Lockhart on QE3 being a tough sell.
http://finance.yahoo.com/news/Feds-Lockhart-sees-high-bar-rb-2831538669.html;_ylt=AiLAFIjIxIQSwsUEIlh59Ke7YWsA;_ylu=X3oDMTE1bGNsZ3U2BHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNmZWRzbG9ja2hhcnQ-?x=0&sec=topStories&pos=main&asset=&ccode=
I call BS on all this - it's just their way of maximizing the half-life of QE3. Expect lots of conflicting statements between now and the end of April.
Yeah, do ya think we can just stick with the inflation mandate?...because we're awesome at that one...
They should change their mandate to what it actually is: To make Stock markets go up, regardless of anything.
LMFAO
Even the Fraud Street Journal doesn't try and hide it.
The Adventures of Photoguy - Episode 19
By stating "inflation-only mandate", might the dishonorable Mr. Fisher simply mean a mandate dealing only with inflation?
I think you know that he knows what he means.
I never know what the hell they're talking about.
How's that "hopey" thing going for PM holders?Is China now one of those countries into the "hopey" thing?
I prefer inflation and lots of it.
I added more GLD, PALL, USO and FCX today.
Lets see a Big Fat QE3!
Got news for him, the people would prefer no FED at all
Russell 2000 to... 36,000 I thought wast their mandate?
The Ben Bernankincide's virtuous circle jerk.
paraphrasing...
"The Fed is of the banks, by the banks, and for the banks. Their only real job is to protect the banks and make sure they prosper. While it's nice when the Fed says that their mandate is to control the unemployment and inflation numbers, and it's nice when it actually occurs, that's not really their mission at all. The sooner the average person understands this, the sooner they'll begin to understand the actions of the Federal Reserve." --- Jim Rickards, KWN 2011
Feds mandate is too enrich Big Businees. God, I would hate to bet my life on any Govt agenct private or not to satisfy any mandate.
All mandates except provide public services at the bare/cheapist price to the tax payers should be removed.
New mandate for the Fed: Die slowly, horribly, uncomprehendingly, and surrounded by jubilant peasants.
Realizing that the full employment mandate is to remind the Fed not to create recessions for fun and profit, this should scare people. The full employment mandate is not about getting people employed. It is about the Fed keeping people from getting employed. It is a recognition that money is supposed to serve the economy and they should be mindful of that over their own profit motives.
Caught in the turbulence of headwinds & tailwinds, Lockhart demonstrates how you blow bubbles from your ass.
http://stlouisfed.org/fomcspeak/date.aspx
It's just so obvious...this is the "implicit" way of saying QE3 wont happend. It's just 3 month left of QE2 and FED is now preparing the way for no QE3 and an earlier increase of FED target rate. To get rid of the second mandate is just an adjustment to the ROW (read Europe)....getting politicians out of the way is deadly important.
STAGFLATION boys n' Girls!!!!
Why do you rob the people? "Because that's where the money is." - I have nothing more, your honor.
Yes, this is just what we need, the FED in control of inflation. Isn't this the problem! END THE FED!
If they take employment away from the fed, who would it go to?
The logical choice would be those that control immigration, because nothing has more of effect on employment than the number of potential employees-ie immigrants and aliens.
Of course that would depower the globalist trade cartel, everytime they squeezed us with rate increases we could squeeze back by deporting millions.
Imagine the horror of federal reserve officials facing a public response to a fedres cash crunch with deportations by the millions.
What are they gonna do, foreclose on our homes?
Then what? Rent or sell to the alien mob?
We could have hyperinflation in wages and deflation in housing, medical care, and food, imports would crater too and food exports would skyrocket-especially grains to Mexico our oil imports would drop too.
Hoenig announces October retirement from Fed
http://finance.yahoo.com/news/Hoenig-announces-October-apf-3649741081.ht...
Another one bites the dust.
hard to read posts describing the public mandate for the Fed..yet most giving lip service to the non public mandates many on ZH list...
It's a criminal organization..I do not need to read or hear any mandate they publicly or privately speak..we all know what they are.
Arguing about the fed is like arguing about how good a rattle snake is for a pet.
Just kill it for God's sake, Just kill it.
absurdity.
Come on, Richard Fisher, grow some balls and lead the rebellion, baby.