German Economics Minister Confirms Fed Manipulates The FX Market

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Fri, 05/28/2010 - 13:27 | 379393 Turd Ferguson
Turd Ferguson's picture

Clearly he misspoke or was taken out of context ;)

What a joke. Like it matters, anyway...

Fri, 05/28/2010 - 13:28 | 379395 SDRII
SDRII's picture

would that be the good minister, the Fed or bernanke? or all of the above

Fri, 05/28/2010 - 14:09 | 379555 WaterWings
WaterWings's picture

Nothing would at first seem to affect private life less than a state control of the dealings in foreign exchange, and most people will regard its introduction with complete indifference.  Yet the experience of most Continental countries has taught thoughtful people to regard this step as the decisive advance on the path to totalitarianism and the suppression of individual liberty.
- Chapter Seven “Economic Control and Totalitarianism”

My Two Cents: This is HUGELY important.  Once the FX controls really kick in you will know deep trouble lies ahead.  I expect this within 1-2 years at the latest.

 

http://www.zerohedge.com/article/mike-krieger-our-road-serfdom

Looks like time is running short...

Fri, 05/28/2010 - 13:43 | 379442 winks
winks's picture

Can't you change your surname - it turns me off everytime I see it. How about "Turkey Ferguson".

Fri, 05/28/2010 - 13:46 | 379454 Cognitive Dissonance
Cognitive Dissonance's picture

Actually the name's fine. It's the hat that makes me want to vomit. :>)

Fri, 05/28/2010 - 13:48 | 379468 williambanzai7
williambanzai7's picture

I think Turd is meant to mean Third.

Fri, 05/28/2010 - 13:54 | 379497 Jack H Barnes
Jack H Barnes's picture

Na, that hats ok, its that Turd on a Rope tie he is wearing...

Fri, 05/28/2010 - 13:47 | 379466 Problem Is
Problem Is's picture

How about "Log" Ferguson?
Better?

In your defense winks... my freind Chuck always says:
"That's about as popular as a turd in the punchbowl..."

Fri, 05/28/2010 - 14:21 | 379580 WaterWings
WaterWings's picture

lulz

Fri, 05/28/2010 - 13:54 | 379501 MsCreant
MsCreant's picture

Turd would need special permission from TD and Marla to change. The Turd will always be a Turd. Go ahead winks, try to change yours to, say stinks (blinks, dinks, finks, kinks, etc. your choice). You can't do it the system won't let you.

Fri, 05/28/2010 - 14:08 | 379551 seventree
seventree's picture

Phooey. Now I will never have a cool ZH name.

Fri, 05/28/2010 - 14:09 | 379558 Turd Ferguson
Turd Ferguson's picture

My apologies. I thought it was generally understood that "Turd Ferguson" made his initial appearance on SNL a few years back. See below.

http://www.hulu.com/watch/12203/saturday-night-live-celebrity-jeopardy--...

Fri, 05/28/2010 - 14:32 | 379626 MsCreant
MsCreant's picture

No need to apologize to me, at all. All things are possible here on ZH. I have talked to Turds, cats, and other pussies on ZH. I am Alice in Wonderland (as in, I wonder where this economy will land) amidst you all. Talking to a dope smoking caterpillar is nothing compared to talking to a steaming pile of wookie doo.

In all seriousness, this crew is brave, smart, and prescient, everyone readily agrees on that. But this crew is also creative as hell. 

Be all that you can be, Mr. Ferguson. If it inspires you to be a Turd when you are here, I for one welcome it. If we stand a chance of making it, creativity and inspiration, qualities you will only find in those who can think outside the box, are desperately needed. Turds are fertilizer of the richest kind. I salute you, Sir Turd.

Fri, 05/28/2010 - 14:42 | 379659 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

We should have a tea party theme day where we all dress up as Wonderland characters! 

Fri, 05/28/2010 - 16:41 | 379980 MsCreant
MsCreant's picture

Why how excellent Mr. LennonHendrix. Will you vanish, all but your grin?

Fri, 05/28/2010 - 18:11 | 380189 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

                 )

              /

           That depends a good deal on the lighting.

Fri, 05/28/2010 - 14:48 | 379679 SilverIsKing
SilverIsKing's picture

Turd Ferguson = Very good alias

Fri, 05/28/2010 - 14:55 | 379697 Clayton Bigsby
Clayton Bigsby's picture

my only question is - can you be polished?

Fri, 05/28/2010 - 15:03 | 379719 Clycntct
Clycntct's picture

+++ That was fun Bert.

Fri, 05/28/2010 - 13:28 | 379397 DaveyJones
DaveyJones's picture

That's one frank furter

Fri, 05/28/2010 - 13:45 | 379447 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

Have you been waiting for the correct news story to spring that wiener on us or were you inspired out of the Gulden's...er...blue?

Fri, 05/28/2010 - 13:55 | 379486 DaveyJones
DaveyJones's picture

Actually that's the first time I've sprung my wiener in the appropriate context

Fri, 05/28/2010 - 15:07 | 379729 Cognitive Dissonance
Cognitive Dissonance's picture

Breaking News!

DaveyJones is a flasher, having sprung his wiener on Zero Hedge.

Details at 6.

Fri, 05/28/2010 - 14:36 | 379642 MsCreant
MsCreant's picture

I give this weiner comment a "blue" ribbon.

Now there are a lot of men posting here. No more blue weiner jokes, k?

Fri, 05/28/2010 - 13:52 | 379485 williambanzai7
williambanzai7's picture

Do you mean that's one frank fer Turd.

Fri, 05/28/2010 - 13:29 | 379398 homersimpson
homersimpson's picture

What's next - the Fed confirms Bernanke is balding?

Fri, 05/28/2010 - 13:42 | 379439 Sudden Debt
Sudden Debt's picture

he just has a large forehead. He's all brain!

Fri, 05/28/2010 - 13:45 | 379449 homersimpson
Fri, 05/28/2010 - 13:50 | 379482 Problem Is
Problem Is's picture

A kosher Napoleon...
Little man, big problems...

Fri, 05/28/2010 - 16:56 | 380025 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Big bald head and weasely eyes. Fab combo. All that money and he looks that shitty. He's only 55 for corn sakes! You mean he couldn't afford to get Fabio's scalp transplanted or something? Even Andy Warhol budgeted for wigs.

Fri, 05/28/2010 - 13:29 | 379399 nevadan
nevadan's picture

What a good job of avoiding eruptive movements.

Fri, 05/28/2010 - 13:29 | 379400 doggis
doggis's picture

and so begins the battle for middle - earth (which in this case is the anglo-saxon world of the us and uk against the euroland)....... oh this is gonna get good!

Fri, 05/28/2010 - 13:39 | 379431 mikla
mikla's picture

Let us discuss.  Let us come to understanding.  We do not want to move too quickly.  We must all work for ... stability.

Fri, 05/28/2010 - 13:45 | 379453 WaterWings
WaterWings's picture

Rahm on the left.

Fri, 05/28/2010 - 13:51 | 379484 Problem Is
Problem Is's picture

Alan "Crazy Chester" Greenspan on the right?

Fri, 05/28/2010 - 14:38 | 379649 MsCreant
MsCreant's picture

+100

Fri, 05/28/2010 - 15:00 | 379704 WaterWings
WaterWings's picture

My lord, let us not waste this crisis.

Sat, 05/29/2010 - 00:26 | 380745 Lux Fiat
Lux Fiat's picture

Oh the mentatcity of them all!

Fri, 05/28/2010 - 15:11 | 379741 AccreditedEYE
AccreditedEYE's picture

+1 LOL!!

Fri, 05/28/2010 - 13:30 | 379404 A_MacLaren
A_MacLaren's picture

So this is in addition to the Trashury's Exchange Stabilization Fund?

http://www.ustreas.gov/offices/international-affairs/esf/

 

Fri, 05/28/2010 - 13:32 | 379412 Hansel
Hansel's picture

Probably.

Fri, 05/28/2010 - 13:55 | 379471 packman
packman's picture

Probably not - seems like the Treasury's fund would have to hit the government's ledgers (e.g. buying $10B worth of Euros would add $10B to the official U.S. debt), whereas a FedRes program could use $$ just created out of thin air.

 

Edit - that appears to be the case, from looking at Wikipedia:

 

http://en.wikipedia.org/wiki/Exchange_Stabilization_Fund

 

The Treasury's fund level was $105 Billion as of last October, including (cough cough) $58 Billion in IMF SDR's.

 

Fri, 05/28/2010 - 14:08 | 379550 Hansel
Hansel's picture

Are you disagreeing with yourself?

Fri, 05/28/2010 - 15:01 | 379716 packman
packman's picture

My wording is odd, but no - I'm saying I was correct, in that the Treasury and the Federal Reserve manipulation are separate programs.

Fri, 05/28/2010 - 16:37 | 379975 Hansel
Hansel's picture

He did not ask if they were the same program, only that both are currently running.

Fri, 05/28/2010 - 13:30 | 379408 ratava
ratava's picture

Eruptive. Yeah steady ticking down is eruptive and 200 pip jumps up are perfectly normal.

Fri, 05/28/2010 - 13:46 | 379455 MsCreant
MsCreant's picture

Just imagine how bad it would be without intervention! [Vapid stare, blinks]

Fri, 05/28/2010 - 16:02 | 379875 SWRichmond
SWRichmond's picture

Imagine how bad it's going to be when the intervention finally fails, and the system is even more out of whack than it would have been otherwise.

Fri, 05/28/2010 - 16:22 | 379931 Hephasteus
Hephasteus's picture

Ya no kidding. This one time I had kidnapped this girl. And she was all violent and scratching me and kicking me. I was like this chic is violent and I kept imagining how much more violent she would have been if I hadn't tied her all up.

These market maker guys they think they can facade things and "restore calm" to the market. But all the do is take the responses to another realm or build such huge opposing forces that it breaks apart anyway.

Fri, 05/28/2010 - 13:31 | 379409 Popo
Popo's picture

When Geithner labeled China a "currency manipulator" there was a diplomatic shitstorm that lasted weeks. Watch this one blow over in about 9 seconds.

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