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Fred "Iceman" Mishkin Says Paul Bill Is Incredibly Dangerous, Says Gold Is A "Side Show"
The man who singlehandedly destroyed Iceland, will not rest until he keeps repeating the same failed Keynesian experiment hoping for a different outcome, thus defining, as Einstein would say, insanity. Being a former Fed member, we would expect nothing less of Mr. Mishkin.
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Time to connect the dots the way that I see them:
> Four to eight bullion banks are short almost all of the gold/silver on the CRIMEX
> Billions of dollars in taxpayer funds have been paid to the CROOKS running these criminal operations
Now to connect the dots:
The CROOKS have been using the billions to purchase PHYSICAL gold/silver for their PERSONAL ACCOUNTS, while their criminal operations at the corporate level have been used to suppress the price. A real benefit to the CROOKS. Now when the time comes and the bullion banks have to cover those massive short positions, the CROOKS will benefit in their PERSONAL ACCOUNTS.
Heads they win and tails they win, with the losers being the stockholders and everyday Americans.
This is how I see it...
Hog
Note: Mishkin is an IDIOT! Look at his recent comments about a HISTORIC LOW in the DXY, which was penetrated to the downside. Look at his recent comments about gold, which were destroyed.
Four to eight bullion banks are short almost all of the gold/silver on the CRIMEX
If my understanding is correct, they are short several times the total gold and silver on Crimex.
Don't confuse the CRIMEX short interest with the CRIMEX Gold/Silver Warehouse metals.
OK, and your agreement with or argument against the above statements is: ????
Hog,
do you have any hint that the crooks got bullion?
From an external viewpoint it makes sense, but to move up in a big organization/corporation often someone has to believe the propaganda.
That would point to an external buyer of gold.
The amount of money is not even that big compared to the billions flying around.
40 million $ buys a metric ton of gold. Take a thousand rich people all over Europe and Asia and 1'000 tons of gold would be bought and paid for.
All that I am proposing is that the CROOKS are using their respective bullion banks to suppress the prices of gold/silver while purchasing physical gold/silver for their personal accounts, probably through the London physical market.
The CROOKS know what is coming in regards to both the U.S. Peso and the massive short interest on the CRIMEX.
In my opinion, this is one of the reasons why the characteristics of the gold/silver markets changed several months ago. The physical market is very, very strong. Corrections are minor with an immediate return to new highs. Last Friday was engineered by the CROOKS and a FIFTY DOLLAR selloff was over in ONE DAY. Why? Because in my opinion the CROOKS used the day to drive the prices of the paper market DOWN and then purchased physical for their PERSONAL ACCOUNTS, which immediately drove the price back UP.
Again, just attempting to connect the dots...
i'm sure when gold hits $2,000, it will no longer be a "side show".
DK about others, but I always thought the Side Shows at the circus were more fun than the Big Top...........I still do.......
Full disclosure: incredibly long Side Shows (gold and silver)
Actually, Mishkin is the side-show.
Anyway to hack the Bloomberg to say "Mishkin says "I am really Side-Show Bob".
http://thebluetwin.files.wordpress.com/2009/03/side-show-bob.jpg
He even looks like him.
Fred is Napoleon Dynamite.
That is a great picture of Fred.
Fred...nice call on Iceland.
why are we even listening to Fed people like Mishkin and most importantly, Bernanke?
I urge ZHers to write to their Senators imploring then to vote against Bernanke...it is all that you can do for now.
i'm not sure calling lautenburg and menendez will do anything for me. neither are out until 2012 at the earliest, unless of course lautenberg resigns and corzine takes his spot (hot rumor round these parts)
If/when you do contact Lautenburg's office (Mr. Anti-Gun), tell him to PERSONALLY bring his proposed gun legislation down here to Texas and PERSONALLY take our guns.
Done.
https://writerep.house.gov/writerep/welcome.shtml
"...write to their Senators..."
Awesome! Brilliant! Exactly! But I save the stamps and use telepathy, which is just slightly less effective.
Change You Can Believe In is trickle up poverty.
Did so 3x today. Asked all friends and relatives to do the same.
Yes they will appoint another criminal tool. But a statement needs to be made by the electorate wherever possible.
Do it today!
He may be the 100% quintessential contra indicator. That's as good as being 100% right.
You cannot lose being the counter party to his (alleged?) bet.
Is there some irresistible urge to discuss Mishkin? It would appear he is irrelevant, and washed up on the shores of failed experiments...
I guess in a mafia type culture he would have been found in a trunk for what he accomplished in Iceland.
Let's burn our calories on ending the Fed, not auditing it. That would be more constructive for the ZH community..
Our present mafia culture rewards incompetence. Look at Tim Geithner.
Ditto on Mishkin is an idiot.........but I've said that for years.
The guy looks like he should be camping in line to be the first to see one of those PG-13 movies coming out during the Christmas Holidays.
Dude, that's Napolean Dynamite.
Mishkin the Idiot…just look at his hair…who would trust a Mishpuk who looks like that?
in other news…Barrick Gold Corporation (ABX) said it has completed the elimination of all of its gold hedges and now has full leverage to the gold price on the industry's largest gold production and reserves. "Our positive view on the gold price led us to accelerate the elimination of these contracts ahead of the schedule we had established," said Aaron Regent, Barrick's president and chief executive officer."
Must be waiting for the central banks to cover their short positions by dumping gold and crashing the price…
I bought my first gold at $290, I believe Gordon Brown was selling some at the time. Ok now let's see. Gold has outlasted every single empire, and every single paper currency that has ever existed. That kinda sounds like it's the main show to me, in fact didn't they write a song about it once. I think it went like this.
Gold (gold)
Always believe in your soul.
You've got the power to know
you're indestructible.
Always believe in 'cause you are
gold (gold.)
Glad that you're bound to return
Something Gordon Brown could have learned!
You're indestructible, always believe in.
John Paulson doing a short speech in midtown at 9:30est. Your truly has an invite. My guess is Gold will be mentioned. Though, admittedly, I'm curious to see if he spews any nonsense regarding BAC/Citi. Will report back!
PS. Mishkin is a quintessential moron.
John Paulson Meeting Update: As expected.... He see's C at ~$12 in 2-3 years, BAC ~$30 in ~2-3. Betting against the $, with Gold and Gold miners.
He likes FITB, AU, KWC, GFI, HEI.HM (HEIDELBERGCEMENT - German), BAC, CNO, C, COF, IDMCQ.
Goldman Executives are applying for concealed pistols to carry in Manhattan to protect themselves against a populist uprising. It is nice to see the 2nd Amendment applies to the wealthy and not us commoners.
http://www.bloomberg.com/apps/news?pid=20601110&sid=ahD2WoDAL9h0
I guess that General Custer used the same logic when assessing his situation against the Sioux. Yup! I gots me a gun. What are those THOUSANDS of angry people rushing me with guns?
The dress of the day at the Little Bighorn was, Arrow Shirts. Muhahahahahaha
Oh the hubris
Oh, man, excellent. Gracias! This is more of a comedy piece:
Alice needs to do some research. Did she work at People Magazine before this? Hahahackhackha!
Latest Silver futures on the COMEX show 680 Moz of Silver under contract (last Friday). COMEX warehouse has only 111 Moz listed to cover and only 52 Moz of that is registered to cover demands on contracts (also on Friday). Commercial Shorts (bullion banks) are 83% of total short positions on the market, more than 475 Moz worth.
BTW, the 111 Moz is down from 132 Moz in 2008.
Dudes hair looks like out of control pubs. not a good image 1st thing in the morning.
It seems that Mishkin's only expertize is in being consistently wrong.
I wouldn't let this man pick my toilet paper, let alone listen to his thoughts on macro/micro economic issues.
lol awesome pic
"You know, there's like a boat-load of gangs at this school. This one gang kept wanting me to join because I'm pretty good with a bow staff."
Does anyone know if Mishkin has ever been on the payroll of an institution that had to endure the consequences of poor judgment?
List of places I need to urinate on before I die:
Princeton - check
The Capitol - check
The Fed - check
Columbia University - pending
Arming Goldman With Pistols Against Public: Alice Schroeder writes:
"Surely, though, this man who can afford to surround himself with a private army of security guards isn’t sleeping with the key to a gun safe under his pillow. The thought is just too bizarre to be true. "
Maybe not. Lloyd knows he f*cked those security guards just as badly as anyone else in the former American Middle Class. No one has his back.
Security guards?
> Target identification
> Defense identification
> Erradicate defense
> Acquire and capture/erradicate main target
No thanks! I think I would rather flip burgers...
I don't know, I'm sure the cafeteria workers have his back
The simple thing about these Mishkin interviews is that he's under no burden to tell the truth at all. His job is to place the Fed in a good light and protect the status quo. Selling fear is a common way to keep the status quo going... problem is, the Fed has already yelled fire in the crowded theatre (remember their fear mongering of banks on if banks were identified on TARP) and nothing of substance really happened.
Mishkin is yelling "fire" again-- but this time, the people in the theatre are looking for signs of smoke before leaving their seats. There is no threat of "catastrophic consequences" of a Fed audit... except for those who are pulling the strings. There is no fire; there is no smoke.
Mishkin has proven himself to part of the same problem the Fed presents to our economy. The Fed wants total autonomy (as opposed to independence) to make decisions-- but like Mishkin's fatal advice on Iceland-- the Fed has proven that they have made fatally flawed decisions in the past. Why we should place our total trust in Mishkin, Bernanke, or the Fed as an institution should be a mystery to everyone. This should be especially true today, as the Fed has strayed well beyond normal market operations in setting interest rate levels-- and are effectively conducting fiscal policy (buying non-Treasury debt on questionable collateral) without a license.
I think the more we discover about what the Fed has done under QE, the more will be disgusted by the degree and breadth of moral hazard. Perhaps these moves were necessary to save the global financial system from catastrophe. But the Fed has not proven that to be the case at all, depsite all the self-administered pats on the back.
What I find most incredible is that the Fed is wanting the freedom to make totally autonomous decisions-- but they don't even want the public to question why these decisions were made-- or how these decisions were executed (follow the money). And under "Audit the Fed", this process of being questioned would occur 6 months AFTER the fact. I think the Fed (and their friends) may be way overplaying their fear selling.
If Ben Bernanke or Frederic Mishkin cannot handle being second guessed, I suggest they find another line of work... like professorship.
Benny and Mish should never be allowed to have an opinion again. Like these guys:
http://1pumplane.files.wordpress.com/2009/04/dui-chain-gang.jpg
They'll need this to make it out of prison alive:
http://www.feedem.co.uk/dog-2/dog-health-medicines-108/johnsons-veterina...
My MBA negotiating class stressed the best way to win at negotiations was how disaster will srtike if you doin't do what I want.
Goldman Sachs executives arm themselves against the proletariat. Of course with wealth and power come privilege, like the utter impossibility of getting a gun permit in New York city unless you are a Hollywood star, the mayor, or... a GS executive. Seems they are all a wee bit scared of the environment they've created, eh?
Hell of a sideshow.
Can't wait till the dollar comes in with the main event.
"Love looks not with the eyes, but with the mind."
Or if she is feeling really dramatic.
Macbeth:
To-morrow, and to-morrow, and to-morrow,
Creeps in this petty pace from day to day,
To the last syllable of recorded time;
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player,
That struts and frets his hour upon the stage,
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.