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Fed's Fisher Tells The Truth
Some brutal truth from the Dallas Fed's Fisher
- FISHER SAYS THERE IS `PRICE' FOR `TINKERING' MORE WITH POLICY (about $1MM per FOMC Member)
- FISHER SAYS THINGS WILL BE WORSE IF FED JUST PRINTS MORE MONEY (there is no money printing... the Chairsatan said so)
- FED'S FISHER SAYS `MONETARY POLICY HAS EXHAUSTED ITSELF (but the Chairsatan just said the Fed is prepared to confirm its madness by doing for the third time what failed twice already)
Ignore the second bullet point: according to the Fed Chairman and chartalists it is all just an asset swap. "There is no money printing" is what one hears all day long after all. Or wait, maybe someone else is confused, and perhaps Fisher is actually telling the truth. Oh well, semantics. Either way, Fisher's pink slip is in the mail.
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What is this shit? Good FED bad FED? Believe nothing that these cretins say.
It's tradition.
It's all good.
The Bernake said they have not spent any money, they have made money.
128 Billion, on a 500 Trillion investment...........
For what assets of equal or greater value?.
Hell of a deal.
As long as he is the lone madman, we will get QE and debt ceiling raised..
His majesty said no debt ceiling raise, is like spending spree and not pay bill.
This 'Fisher' is clearly a terrorists. Incarcerate the usurper!
We must keep the uneducated and unindoctrinated lunatics and conspiracy theorists in a vacume and under control.
lunatics that read independent blogs and buy silver.
everything you just said gave Law Enforcement Probable Cause to Search You and Your Surroundings.. You Sir are a Home Grown Terrorist! The FBI / TSA are training Local Law Enforcement how to deal with you Americans who believe in the "Constitution of the United States".. expect an updated Constitution more in line with the Procedural Process Exercised by the Judicial.
Have a Political View? Share this view on Twitter or Blog? **YOU!** are a Terrorist PER Homeland Security http://goo.gl/0YRnN See Link(s) and Official Report(s).
Yes, it's tradition and it's also one big ponzi scheme by the banking cartel federal reserve.
It's sort of like a convicted ponzi schemer bidding on his own assets, at autcion, when they get auctioned to pay the victims. Oh wait, that really happened today.
http://www.lohud.com/article/20110713/NEWS01/107130341/North-Salem-s-Pau...
North Salem's Paul Greenwood bid on his own seized items at auctionTradition can be transitory.
they make teeth from traditions.
It's world class financial tennis at its best.
Or Ping Pong when the Chinese finally take over.
Played with the sophistication of an Atari PONG system...
Where's Forest Gump when you need him?
If I was drinking milk, it would spit out my nose at that.
Hang on just one second now, no one said anything about printing money !
Exchanging worthless USD currency for worthless Uncle Sam IOU's is a wash.
Fishcher is a loudmouth nitwit who skipped math in college, $0 = $0 dumbass.
http://www.youtube.com/watch?v=G_DV54ddNHE
Nothing from Nothing leaves Nothing!
+1582.60
Shutup and eat yer danged peas, ferchrissake!
They haven't told you the punchline yet...
You're gonna have to eat your peas with chopsticks...
lefthanded...
Fisher will always vote with Ben. His public statements mean nothing. He is just the "hedge" to today's Bernanke "dovish surprise" in case Bernanke has to flip flop.
What does it matter what Fischer says? The Bernank couldn't care less!
Bernanke can not be as dumb as he looks. He must be acting like a gimp like Kaiser Soze while he carpet bags the world.
There's only 3 possibilities:
1) He's a sociopath working for the nobility that owns the country.
2) He's a true-believer in a failed economic religion.
3) He knows there's no solution but is doing anything he can to postpone the inevitable.
Personally, I think it's number 2.
number 3. but it is the same result anyway.
If you believe it's number 2, then you'll need to come up with a good reason for the bernak jitters... zealots don't twitch and he ain't going to win an academy award.
Since the choices are non-exclusive, I say all of the above, without the sociopath part.
#1 is a given...
Bernank is a bard in lamb coat.
There are countless first class academics who are extremely dumb when it comes to understanding the real world. Part of the reason why they retreated into academia was because they found it too hard to apply their theories to the practical and chaotic. I often think that Bernanke has a form of Stockholm Syndrome, where he's been kidnapped out of his quiet cosy life at Princeton by a bunch of manipulative money men, who he is utterly reliant upon for confirmation his theories can work in real time. He seems to get flashes of doubt every time he speaks, like maybe they are using me, but he does not have the strength to break free.
+1. Nice comment. I tend to agree. Probably kidnapped by his own greed, since he must have been promised wealth for himself and his family for generations to come.
+1
+1, great comment. Can think of others in my personal life who fit this description.
Carpet Bag.
Carpet Bomb.
And that Kaiser Soze movie is a close tie with The Crying Game for Massive Movie TIT. Twist In Tale that is.
Of course they are all method acting out a script LH. The scouting system we see in major league sports is a pale shadow of the one in place for these POSitions.
The Rhodes Scolarship is the one where they get the Indians. Off to Ox-Ford or Cambridge to get Globalized. It is considered the highest student honour in India.
And there you have it.
ORI
http://aadivaahan.wordpress.com/2011/07/08/july-15th-aug-15th-month-long-window-coming-up-initial-thoughts/
aka. Koch bros
Those are Deep Thoughts. Remember SNLs Deep Thoughts?
I demand we bring back Sniglets. Easy, fun, educational and nutritious to boot.
http://en.wikipedia.org/wiki/Sniglet
Indicisajig baby!
I submitted the word "slilch" to Rich Hall to describe the layer of foam and and that who-knows-what it is brown stuff that results from making Nestea. It didn't make the show. :<(
However, if I ever hear somebody use the word slilch, I will know they are a fellow ZH'er. Maybe it could be our code word?
Now that the code word is settled, what do you propose for the secret handshake and the hand signal?
In fact, didn't Banzai7 work on this a while back?
Some pencil necks at MIT are working on some HFT algos for indicisajig
'Icealanche: The avalanche of ice that occurs when a glass or cup is tipped up to drink the last of the liquid.'
I wonder if The Bernank has had this happen?
don't bogart, gene. put the freakin bong down before we die laughing...
"The crows seemed to be calling his name thought Caw" - My favorite Deep Thoughts.
fisher is irrelevant
stocks cannot go down
t-bond yields cannot go up
thus saith the bernank
Bernanke's ready to ease monetary policy further if the economy weakens
YouTube - The Pusher http://t.co/7PuXss2
There will be blood.
Hawkish
I would NOT want to be on the same airplane as that man any time in the near future.
+1 something outta the clinton playbook...
Speaking of which, if Paul and Waters ever find themselves on the same plane....
New Pomo schedule released:
http://www.newyorkfed.org/markets/tot_operation_schedule.html
$14 billion 7/18/11 through 8/8/11.
Actually, its simple really. Since 'gold isnt money' there is no 'printing of money' as gold cant be created on a printer ... ergo, 'asset swap' is simply switching gold bars with tungsten. And since its all 'transitory' what was a lie yesterday is the truth today ... and could be a lie tomorrow ! lol
I want to be paid with tradition.
+1
What's with the "Chairsatan" moniker? I view Bernanke as more of a Santa Claus since he's pretty much responsible for all the money I made in PMs over the past year!
It's just semantics. The Mayans sacrificed a few young virgins to make their crops grow. Benzebub sacrifices the entire middle class to make the economy grow. Same thing.
Buying PMs opts you out of the ritual sacrifice lottery.
That's right. Semantics....
Saint "Nick"...Little "Nicky"...same dude.
Sacrificing virgins is what Benzebub does! What is the teen unemployment rate? Still over 50%? For how many years. Poor kids can't buy their Beiber singles. Poor, poor kids.
Bernanke is not stupid but he is an academic.
He exists in a vacuum. This man missed subprime. He doesn't fully understand securitization and the effect thereof.
Personally the cost/benefit of QE3. Inflation (look at CRB today) vs. growth. is questionable at best.
The amazing thing is if they had allowed a reversion to the mean, and restructuring to take place 3 years ago, we would probably be well on our way to 3%-4% growth.
I think that to characterize the cost/benefit of additional QE as "Questionable at best" is quite generous. It merits harsher words. But you get points for diplomacy:-)
Had the exact same thought, lizzy the consumate ZH diplomat !
Bernank the Brilliant: " Let's do the same thing we have done for the last 3 years and expect an entirely different outcome this time ! "
Academics can be stupid, and people who live in ivory towers are stupid. He doesn't understand anything except that he needs to keep the ball rolling while his masters get "theirs". He says he thinks the consumer is rational, but he has irrational policy in place that lets banks create "something" (however real) out of nothing. He is purposefully acting unrationally to confuse the rational consumer. He is throwing stones in a glass house. He knows what he is doing and he does not care. He is evil. And yes, evil is stupid.
How do we get 3-4% growth with wage arbitrage and less abundant natural resources? What is it we're growing? What are we using to grow?
We would simply be at a different place... and, likely, a more realistic projection of the future and ability to cope with change... Although, there is a huge gap between there and 3-4% growth...
The Texas version of reality is different from the DC version.
How will they do more QE without more debt? This is talking up the markets, nothing more. "Nothing bad will happen, go back to work (sleep)." What about when I open the closet and there really is a monster in there? I keep a baseball bat by my bed. For financial closets, I keep gold.
Ben, why do you print money? Ben, why do you bail out TBTF? Why do you bail out foreign countries? Why are you keeping interest rates so low, screwing old savers? Why do you devalue the dollar? Why do you create inflation? It just an old "FED" tradition! (Sing to the tune of the Hank Williams song)
It didn't work for the american people, but it sure did bailout the banks, Wallstreet and corporate America. In addition it bought them time.
But...but...the good folks at Naked Capitalism assure me that all is well. Do you mean to say that maybe there is more to monetary policy than recasting it as a glorified accounting project?
Calculated Risk cracks me up, too. The editor has joined the Jon Hisenrath fan club:
Misc: Greece Downgraded, Did Bernanke shift on QE3?LULZ abound.
(but the Chairsatan just said the Fed is prepared to confirm its madness by doing for the third time what failed twice already)
they gotz no choice. it's been baked in since fuk_u started effecting the econom erections.
what seems so strange it that we're in a place via the USD, interest rates, and now the re-flattening of the curve, where it wouldn't make sense not to. reminds me of the first reel of A Perfect Storm. capitulation to the fact that the financial sector can't handle it. everybody else is getting ass-raped by the financial sector, so they're all out.
who ya gonna call?
the leadership sure focused on some amazing "choices" didn't they?
whatever.
you don't think we're getting too negative about this cartoon bullshit, doya? what if it works this time?
hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha
"Tinkering"
Please.
What the Fed has done under the Greenspan/Bernanke regime is the destruction of our free enterprise system. Avowed Bolsheviks could not have fucked things up more than the Fed.
NOW, when this mother fucker ends up in a dumpster the game is over...
Fisher is a double-talking asshole, look how he votes, SHUT HIM UP. Hoenig is the only credible one left. The rest should be in prison.
Fisher is a double-talking asshole, look how he votes, SHUT HIM UP. Hoenig is the only credible one left. The rest should be in prison.
Asset swap...alright. Its only from more poor starving millions the world over who have to pay for commodities that are priced in dollars. It's all good baby!
God Bless our beloved reserve currency status is all I can say about that,
now stfu and eat yur daym peazzz
Long live The Bernank! He can make you rich enough (in nominal terms, of course) to build a moat to keep out all the peasants! Just build it now before the dollar completely collapses.
This is why Fisher will never become the "chairman".
From Beijing at 3:00am
http://www.businessinsider.com/dalls-fed-chief-fisher-debt-monetization-2010-11
Captain Miller: I don't gripe to *you*, Reiben. I'm a captain. There's a chain of command. Gripes go up, not down. Always up. You gripe to me, I gripe to my superior officer, so on, so on, and so on. I don't gripe to you. I don't gripe in front of you. You should know that as a Ranger.
Private Reiben: I'm sorry, sir, but uh... let's say you weren't a captain, or maybe I was a major. What would you say then?
Captain Miller: Well, in that case... I'd say, "This is an excellent mission, sir, with an extremely valuable objective, sir, worthy of my best efforts, sir. Moreover... I feel heartfelt sorrow for the mother of Private James Ryan and am willing to lay down my life and the lives of my men - especially you, Reiben - to ease her suffering."
Mellish: [chuckles] He's good.
Private Caparzo: I love him.
Ask me how many bones are in the body, or how many feet are in a mile, how many countries are on this muddy marble, sheesh even chemicals that go in the double helix, but damn i dont count toothpicks
Not trying to troll or hyjack but...
Lets say you have some PM's here in the United States, and you were thinking about putting them somewhere "safer"...
How would you go about doing that, and where would you "offshore" them to?
Fisher is one of the (few) good guys!
Serious question:
Is it true that Fisher is on his way out? Or was that just typical ZH humor and hyperbole?
I think I prefer Geithner's "strong dollar policy" doublespeak to this... It's got more comic effect!
The comment from the stridently arrogant, bewhiskered narcissist that struck me was not his cluelessness about precious metals being money nor his "factual" rebuttal to the idea that the dollar-destructive nature of Fed policies were the primary cause of higher oil prices but, rather, his complete ownership by the Fed for having contained inflation since the 1980's! So let's see, globalization and technological advancements had nothing to do with it. Truly astounding how utterly ignorant this man is of anything having to do with operative economics in the real world.
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Editorial
Pink Slip Richard Fisher
And his entire Board of Directors
Who is Richard Fisher? The President & CEO of the Dallas Federal Reserve Bank! Why fire Mr. Fisher? Simple! You drive down Central from either direction and take the Woodall Rodgers Freeway and start counting the hi-rise building cranes. I want you to take the Field Street exit and follow the curve to Cedar Springs and my office. Perhaps your rubberneck is better than mine, but I count 8 hi-rise building cranes, by the time you get to my office. It is an absolute horse manure deal for there to be 8 hi-rise building cranes in the Central Business District when according to CBRE Richard Ellis we have a 25.7% commercial vacancy rate. In March, 2001, the Dallas Business Journal had the vacancy rate at 22.7%. So, Mr. Fisher can’t blame it on timing.
Couple a commercial vacancy rate of 25.7% with an unemployment rate of 9.2% as of this morning and Mr. Fisher should be fired for his actions. Downtown residential real estate seems to be such a statistical can of worms, we won’t even go there, except to say that Robert Schiller is predicting another 25% decline from today’s level. You might also question the retail vacancy rate, but we can all drive by the empty storefronts, and just who are you going to believe, your own lying eyes, or what the Downtown Dallas.org wants to tell you ?
Some would question the efficiency of firing Mr. Fisher, but the bull manure has to stop somewhere. If he and his entire board is fired, perhaps the other 11 districts will react as positively, and just maybe we can start to turn this economy around. It is ridiculous to be paid what you are paid on your savings and then drive-by 8 hi-rise building cranes when we already have a 25.7% commercial vacancy rate. Mr. Fisher should be fired before dark!
The above is my editorial and I approve what I am saying: Bulllish Bob Bagley
Profitabull
www.bullish.org
972.BUL.LISH
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Editorial
Pink Slip Richard Fisher
And his entire Board of Directors
Who is Richard Fisher? The President & CEO of the Dallas Federal Reserve Bank! Why fire Mr. Fisher? Simple! You drive down Central from either direction and take the Woodall Rodgers Freeway and start counting the hi-rise building cranes. I want you to take the Field Street exit and follow the curve to Cedar Springs and my office. Perhaps your rubberneck is better than mine, but I count 8 hi-rise building cranes, by the time you get to my office. It is an absolute horse manure deal for there to be 8 hi-rise building cranes in the Central Business District when according to CBRE Richard Ellis we have a 25.7% commercial vacancy rate. In March, 2001, the Dallas Business Journal had the vacancy rate at 22.7%. So, Mr. Fisher can’t blame it on timing.
Couple a commercial vacancy rate of 25.7% with an unemployment rate of 9.2% as of this morning and Mr. Fisher should be fired for his actions. Downtown residential real estate seems to be such a statistical can of worms, we won’t even go there, except to say that Robert Schiller is predicting another 25% decline from today’s level. You might also question the retail vacancy rate, but we can all drive by the empty storefronts, and just who are you going to believe, your own lying eyes, or what the Downtown Dallas.org wants to tell you ?
Some would question the efficiency of firing Mr. Fisher, but the bull manure has to stop somewhere. If he and his entire board is fired, perhaps the other 11 districts will react as positively, and just maybe we can start to turn this economy around. It is ridiculous to be paid what you are paid on your savings and then drive-by 8 hi-rise building cranes when we already have a 25.7% commercial vacancy rate. Mr. Fisher should be fired before dark!
The above is my editorial and I approve what I am saying: Bulllish Bob Bagley
Profitabull
www.bullish.org
972.BUL.LISH
Sorry, Bob, you lost me with the mso-bidi-theme-font:minor-bidi stuff.
You should find a way to post without alienating your audience--you might have something interesting to say.
Unless it comes from The Bernank and Dudley it is meaningless drivel not even worthy of passing along
Recovery Summer(s), bitchez!
Fisher should just burn it down from the inside and save us all. You can't call this capitalism when you have central planning. But in the meantime, I'm buying calls.
To all unemployeed Americans, with your unemployment checks, buy as much as leveraged ETF calls as you can. Fed is going to make you rich!
http://www.youtube.com/watch?v=whVf5tuVbus&feature=related
23 Things They Don't Tell You About Capitalism
Show me Fisher's dissent. Until then it's all (and probably will be even after) b.s..
All I could think of when watching the Bernanke today is if anyone on the Hindenberg took a shit...?