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Geithner: "Fed Audit Would Be Problematic For The Country"
It is the esteemed Treasury Secretary's opinion, that anything that has to do with demystifying why the Fed is hell bent on destroying the US dollar, killing the middle class, and allowing Lloyd Blankfein to purchase Larry Ellison's yacht collection, is squarely in the "problematic for the country" camp. Never mind that more than half the country (in fact almost two-thirds) have indirectly voiced their support for HR 1207. But at least it is good to know where Geithner's allegiances lie, and even better to see how good at totally perverting facts (not just taxes) the SecTres is.
And the punchline: "The true test of the Fed is the market." Is there a way to give Mr. Geithner an economics test because it seems he might have graduated with a biz-econ degree from Devry.
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It's not what you know but who you blow...er..who you dough...um...who you know.
Yeah, that's the ticket.
Like someone said, it's all a distraction. Even if the Fed is audited, who's to say the "audit team" isn't shown a second set of books or they take the lead from Nancy Reagan and just say no.
Make me!
When in the presence of the magician, don't watch the hand that's waving around, watch the hand in the pocket or behind the back.
I've asked before and I'll ask again. Does anyone really think those in power will simply hand over the keys to the money making machine without a huge fight?
Here's part of a musical I'm working on:
BB: Can't we just create and wire a couple of trillion $$$ to foreign central banks and have them buy the US treasuries?
TG: But Ben, that would trigger a currency crisis as soon as the credit markets learned of it!
BB: I won't say anything if you won't.
TG: (smiles) Say anything about what?
my head is exploding.
I actually took an economics class at DeVry and it was a mostly Austrian perspective from a professor who railed against statism.
Otherwise, this is a fun post to read today.
I actually took an economics class at DeVry and it was a mostly Austrian perspective from a professor who railed against statism. Oh, and the technicians I've worked with from DeVry were superior their university peers, so we keep hiring them. Don't hate on DeVry like that.
Otherwise, this is a fun post to read today.
The point is that the likely hood of seeing DeVry on the Treasury Secratry's credentials would be a bit, how do say, far fetched.
Agreed. Perhaps it should be less far fetched. I know a few engineers that know a lot about economics, and are good at fixing things.
Quick, back to the well, Turbo Timmy!
Hey Hank--
Timmy here.
You see my pose? Come on up here and kizz my azz.
Love,
Timmy
safecracker
Just spoke to my cambridge congressman's financial aid and he is afraid of runs on banks if the FED was audited and the real information was revealed. Total bullshit and time to sit down with Dartmouth grad Mike and discuss the secrets of the temple.
I thought living in the people's republik of cambridge would help to audit the FED - evidently they enjoy central banks and central control. What the hell happened to real liberals.
They joined the loyal opposition at the table of easy "titles" thinking that a title is an end in and of itself. Suckers.
If they are afraid of bank runs, simply fully capitalize the FDIC and have Treasury print $1000 bills . I'm serious.
We can't continue like this, with a system based on fraud. It will only end in tears.
Agreed, regardless of mechanism have the full faith of the US military back all bank deposits. It will actually take a lot of the uncertainty off the table, people in the know understand that the FDIC is out of funds - they can keep asking for more from Congress, but we do need to understand there will not be a change in direction with innocents that are currently getting 0% interest losing their shirts (it happened in the great depression).
If the truth was revealed there would be a run on the banks. Surely thats all the audit you need.The whole house of cards is built on quicksand.But don't worry the market is going to the moon.
we need an audit
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Geithner conflates the situation for him and his associates with that of the nation as a whole. A common affliction of those who conflate loyalty to the institution with loyalty to individuals once they assume the mantle of leadership.
The idea that it is problematic for the leaders of a responsible, self governing society to have the citizens of that society know what the leaders of the society do in their name speaks volumes of those that lead that society and how they choose to lead.
T3 sucks. It really is UFB how openly corrupt these dirtbags are.
The freakin Fed is probematic for the country, audit the psychopaths NOW.
Geithner: "Leave Ben Bernanke Alone!!!"
Yay, if Geithner feels it's not the right thing to do, then it must be the case. Also, we should have never invaded Germany, because Goebbels said Hitler didn't do anything wrong!
No. It will be problematic for him and Ben.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
-President Woodrow Wilson
These creeps are unbelievable. Throw the tax cheat Secretary in prison.
1998 LTCM crisis
2008 CDS CDO ETC... ponzi scheme crisis
20?? The FED crisis
The Treasury and the FED has hands on the miss priced
derivative crap created by the friends of the guy, interviewed above,
The value of the USD will implode, once the big part of the real HF industry
is wiped out, probably in 2010. After that, we have to deleverage the company
FED, How we are going to do that is a mystery to me. The US will never be
able to pay for it's debt.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
-President Woodrow Wilson
I hope everyone here is very clear on the situation at hand. The Fed will not be audited without a revolution. The current balance of power will not go willingly into the night. They have the power, and wield it as they choose. Wether you like it or not is quite irrelevent.
Now go back to work, keep your head down, your eyes forward, and your mouth shut, or you might be next in the unemployment line.
I agree. Honestly, I take Geithner's statement as the prelude to an expected Obama veto if the two audit bills are passed.
The positive side will be that with such a veto Obama will publically and unquestionably place himself on the side where most of us commenters here already know he is. That may be small consolation, but perhaps a necessary step in the unwinding of things.
I would LOVE to see an Obama veto.
Talk about burying yourself six feet under politically.
Who is going to audit the Fed? The government? Because I, for one, don't trust the government or anything they do. They can't even handle a cash for clunkers program without bankrupting all of the car dealerships how the hell are they going to audit a large private financial group like the Federal Reserve? Keep the government away!1!
He didn't directly answer the question abut how he did not pay all the taxes he was supposed to for 4 years. His answer to simplifying the tax code? Increase efforts to go after those who owe the government. Interesting.
these are honorable men ... LOL.
They did a hell of job maintaining oligarchical rule as they should have ...
Wealth is passed on not from father to son but by folks that will use their position of influence, via conduits to positions of influence obtained through associations with secret societies ... to maintain the system in place ... and if you ask them LOL ... it is quite the burden they carry ...
Good Lord ... his responses could not be more Orwellian.
Not sure why everyone's knocking Devry, ITT Tech etc.
DC and Wall Street are choke full with fucking Ivy-leaguers and other trash. They are the one's who don't get it.
With judgement in hand, how about a FED raid. Oh let's say 15.59et Friday afternoon. Bring matching chrome plated bracelets with leg shackles. This is America.
From my days in security I still have some handcuffs, nice chrome plated ones. I've been itching to slap them on a criminal for a long time. 15:59ET Friday is a bit tight for me. Can we push it a few more weeks off? There's just a few things left on my list of Things To Get Done Before The Shit.
Yes Dartmouth Mike's financial aide - tried the hackneyed lines we don't want to endanger the FED's independence. I laughed at her and told her please don't insult my intelligence by conflating the transparency and independence. He does believe and support the traditional GAO oversight but does NOT want us to know the collateral haircuts, who is receiving the funds and if they are buying stock futures. I asked if my rights as a shareholder of banks under REG FD superceded the FED's right to secrecy. She didnt understand the arguement. I told her it was material information as a shareholder I deserve to know if my bank is receiving FED funds at a discount window and they should disclose this market moving material information.
Unreal - throw all of them out and audit the god dam FED
Of the People, By the People, For the People.
Shouldn't it be compulsory for a senior government official to have heard these words?
Conspiring to hide one of the most important and influential tools of government action from the people is treason. We need to clone George Washington so he can march on Washington and kick Timmah, Ben and all their neo-fascist butts out of the
The "poor Fed" ploy and "the country couldn't survive an audit" is slime ball politics. Audit the Fed, if they resist, abolish the Fed. If they demolish the country prosecute the Fed members and associates at the Hague. Look what not prosecuting Nixon brought us.
I agree with everything but The Hague. There are some spacious rooms up the way at the Supreme Court or over at the Capitol to have hold a trial, both of which have some pretty nice well-swept steps out in front and some grassy spots that would be a nice place for the public to assemble.
That assumes the Supreme Court still exists at that point.
The chair the asshole sits in is probably worth more than my house.
Go to hell, Geithner! You need to shut the hell up because all that comes out of that creepy face of yours is pure lies.
Take indiana Ben with you, and Hussein Obama. The trio needs fuck off.
I'm dieing here. My finances are weak. This asshole knows what's good for me? How about some food. How about a vehicle. How about some life.
Loser asshole Geithner!
I will piss on you one day.
Take care.
I'm sure the Tribe's contingency plan, if HR 1207 is enacted, is to move their money out of equities, the Dollar, and out of the country followed by themselves, in that order.
He takes every opportunity to refer to the exceptional and personally offensive actions taken by .gov in response to this fiscal emergency. Given all the horrible things we know, you can't help but wonder what other deals with the devil we've made.
deeply honorable Goldmen to protect our interests !! joke of the day..
Hahahahaha! And there is nothing you all can do about it except write stupid comments on a blog!!! Suck on that!
-TG
Et tu? You can suck it better than anyone ;-0
Man did you see that nose grow everytime his lips moved? Here is an example of his intelligence......
http://www.thedailyshow.com/watch/wed-july-29-2009/home-crisis-investigation
genius to john oliver for that clip.
(& thanks tahoe for sharing)
speaks more truth about how/where/why timmy's captured than a banker's dozen of WSJO interviews.
kinda like that post way way back about the obamas' tax returns.
poor public servant timmay.
you get to eat lunch where the big boys do,
but only if they're buyin....
time to learn to grow your own food jack.
Geithner = Liar.
Nice life. Wake up every morning knowing damn well you gotta lie to virtually all of humanity.
Shifty little pric needs to stop the lies.
at the end of the i'view, Geithner mouthed "please do NOT click the ads at ZH cuz it will only help them come after me."
what a heaping, stinking pile of bullshit. they're holding the country hostage. i fvcking hate this.
He walked into office owing the IRS money and he will walk out with all of us owing lots of money to the IRS to pay for debt he has issued.
I am in a hurry right now, but i hope maybe some of you can add this thought...
Wouldn't it be good if Tyler and Marla would put together a piece pointing out the players who lobbied and supported the financial system 'deregulations" at least since the killing of the Glass Steagall Act, to the movement away from traditional issuance of debt, to the packaging and selling of securitized debt and labeling it AAA...a little like an FBI list.
Surely Tim Geithner was a player in this complex web of fire being thrown on the flames of greed and corruption...
Anyhow, if we get together a list of the players, and outline their "contributions" to the aspects of our financial system collapse that each helped to support or create, it is a nice way of not forgetting the truth--then this list could be made available by a click to anyone who wanted to view the dark cast of characters.... and this list could be a permanent fixture for anyone who wanted to view it---and we could all send it to our legislators to remind them that we know the truth.....just an idea.
Agreed. A handy, dandy chrological list of players dates and acts. Of course, it would politics neutral as ZH is even handed and fair.
ZH posted a flash-based network map a few days ago that fulfilled this requirement. Look for it, add to it.
Thank you nicholsong, could you please describe it a little more...i've been missing some days of reading here on ZH this summer, and feel a little overwhelmed with trying to find what you said.
I tried just now to find it myself, but I couldn't. It commented that it was similar to theyrule.net where you can interactively expose connections.
Ah! I googled for my comment, and found this:
http://www.zerohedge.com/article/fun-nodes
Thank you nicholsong!
It is true, information flows by on this website so fast that it isn't a great way to learn about the architects and dark cast of characters.
I volunteer to create such a website, or display. Topics? - The origins of the Fed - The major players of the financial bubble - and more.
Volunteers?
contact me: zackchomsky@yahoo.com
Would love the help of Zerohedge in supporting this.
nk you Zack--please get an avatar and a name so we can recognize you, and then keep us posted on progress...it is just hard to reach out privately to an anony.
Great idea, keep us posted.
Way to ask the tough "follow up" questions? Nice circle-jerk.
lmfao, "too big to fail, world will colapse, something must be done and that something is nothing, the fed is on the verge don't push it, the economic system cannot support something of this magnitude" etc etc. how long will we fall for this sensationalist fear mongering irrational rhetoric
They should have failed last fall or been bought at a cheap price unlike the Bank of America swindle that was orchestrated by paulson and bernake--even now, no one talks about how BAC's due diligence said that MER was worth HALF of what they paid due to the pressure/fear exerted by the fed/treas syndicate.
Last fall LEH, MER, MS, GS, and C were all toast--instead of HONESTY from paulson and bernake asking for authority to unwind, and a three week market hault to deal with the CRIMINAL MESS that was created...instead, we the people have put our currency at risk for being accomplice to this massive bankheist to save criminal enterprises. Instead we were all told by paulson and bernake that they would do everything in their power to prevent the banks from being nationalized--although, when a bank fails, that is what has to happen temporarily.
If that had all taken place in the fall, right now, as the whole mess got cleaned out honestly, people and small businesses could be receiving the 0.5% Fed Funds rate on loans instead of all our country's money printing capacity to have gone into a black hole to protect the solvency of a system that is backed by a privately held corporation called the Federal Reserve. instead, these criminal enterprises are receiving the cheap money to support their operations and gamble some more with their depositors money.
When the first TARP recipients were questioned by i forgot which committee, these guys got treated like they were GOD--it is disgusting. And even with all the hope and change everyone was hoping for, in February, the day that OBAMA announced that he supported the paulson/bernake plan for his administration he became an accomplice to the crimes. He even went so far as to answer someone's question about when we would hear about investigations or indictments, to say that we have to move forward...and that is the presidential stamp of approval. I am not trying to be political here, Bush did his part to set up and allow all the massive crimes, before him it was Clinton, allowing the revocation of Glass Steagall and much more. WE have to get away from viewing this as political party specific--anyone either party, who supported this mess, needs to be taken out of office.
Dear Secretary Geithner:
I understand that you have no spine and that's why you were hired. I am disappointed that you learned nothing from your tax fraud days. I'm sure you never thought that would see the light of day either, but it did.
This will as well, and when it does I have a feeling that those who you, Ben and all the other Molech worshippers hope to enslave will be there with pitchforks for your pathetic, bureaucratic asses.
That's one pay per view show I'd order. Alas, I may have to wait.
In the meantime, please grow some, Timmy. The pathetic little weenie act isn't playing real well in the heartland. And be sure to pay your taxes as well, you SOB.
What is there to learn? Malfeasance pays off and laws are for suckers, those are the real lessons here.
Watch the Altman interview on CNBC - Professor from Harvard/MIT calmy debunks and dismisses Roger Altman's presumtive "acknowledged truths/conclusions."
Too big to fail? Too big to fix. Time time start over. Move into caves. Trade beads and shells... It'll work fine for a while then Trog Blankfein will discover how to short the bead and shell market. And Org Bernanke will start printing paper shells. And Grok Geithner will start giving Trog all the paper shells...
Certainly if Geithner believes what he says then his tax fraud must make him unqualified for this position.
"people in these jobs must be held to the highest standard of integrity"
Investors are "celebrating" Bernanke's re-coronation and Geithner's pompous behavior by hooking up with some more of the "Worst of the Worst" low-grade call girls on Wall St.:
^ Nice rack ... ;-)
robottrader i always enjoy your posts heheh
Posts? Which ones? I got distracted
Posts? Which ones? I got distracted
I think I`d do her, but you never know where that shity bank skank has been or when the drips will start..
I think I saw that chick at Martha's Vineyard last week...
YEEEHAHAHAHAH WHICH WAY IS IT GOING TO GO??!!!1ONE!
The graphs are bad enough. But, you have earned your dues to post what you want. You do good work and lots of it.
I take offense of you using a picture of my sister in your comment. I want $ 1 million as damages, or, your promise not to put that type of poop in pictures without some sort of warning.
I'm reminded of one of Bruce Willis' best lines; "Lunch!".
How annoying are his mannerisms?
I like how he argues that before the fed, there was a century of financial crises. What do you think this is genius?
lmfao, "we're too big to fail" no shit, so start succeeding
Lumping Geithner in with DeVry grads is an insult to DeVry grads.
Hello,
My recommendation: Silent Weapons for Quiet Wars. Google it. Then, know your role.
You know what this country needs right now?
Some Inglorious Basterds to take care of these Bastards.
"The true test of the Fed is the market."-- Treasury Secretary Timothy Geithner
Translation: The desired end justifies the means.
Urban Dictionary Translation: It's hard out there for a pimp...
....lol....
Yea, but he's not as good as the guy singing that song! I'd have to say, we are all more like the guy (in the song below who is) , "...stuck in this F#$% the world mode." But, now with the news that the Fed is having to start handing over docs, we can say, "it ain't ovah.."
http://www.youtube.com/watch?v=NHQKFHRBdow
Winston examined the four slips of paper which he had unrolled. Each contained a message of only one or two lines, in the abbreviated jargon -- not actually Newspeak, but consisting largely of Newspeak words -- which was used in the Ministry for internal purposes. They ran:
times 17.3.09 bb speech malreported economy rectify
times 19.12.08 forecasts 10 yp deficit misprints verify current issue
times 14.2.09 miniplenty malquoted gdp rectify
times 25.08.09 reporting fed balance sheet doubleplusungood refs uncollateral rewrite fullwise upsub treasury antefiling
Devry? Devry? Don't ridicule them-they probably teach useful trades like auto repair and computer science. Braindead, Stockholm-conditioned parrots like the Sec of Treasury are IVY LEAGUERS. That means he was probably taught econ 101 by a 19 year old TA. All these IVY school people just learn the same crap-how to game the system with your new rolodex of contacts
Barney Frank has a compromise bill. Audit the Fed using Turbo Tax.
LOL
Winston examined the four slips of paper which he had unrolled. Each contained a message of only one or two lines, in the abbreviated jargon -- not actually Newspeak, but consisting largely of Newspeak words -- which was used in the Ministry for internal purposes. They ran:
times 17.3.09 bb speech malreported economy rectify
times 19.12.08 forecasts 10 yp deficit misprints verify current issue
times 14.2.09 miniplenty malquoted gdp rectify
times 25.08.09 reporting fed balance sheet doubleplusungood refs uncollateral rewrite fullwise upsub treasury antefiling
an arthimetic version would be ideal
Geithner: 'You can't handle the truth!'
US Citizenry: 'Quit lying and give us the truth, or else'
One could supplant "or else" with "or be tarred and feathered".
HEY... I'm a Devry grad! Telecom Management 1996. To be honest, I think I'm better qualified to run the treasury right now because I discovered the Austrian School earlier this year. :P
http://mises.org/
Continued thanks for your support of HR 1207. Sign the petition and stay informed about the Audit the Fed movement at AuditTheFed.com.
http://www.auditthefed.com/
Finally, check out freedom babe Shelly Roche on why SHE wants to End the Fed.
http://www.youtube.com/watch?v=dcjZEgP7OMA
Peace
I'm deeply disturbed with the "institutionalization" of credibility. An answer is an answer a solution is a solution doesn't matter what experiences educations friendships affiliations were involved in the evolution of that solution.
It's funny the subtle messages sent out. Like that movie The Core. The super smart guys all have 20 degrees from Noble Institutions of learning. The reality is so much further from that when it comes to true genious. Nikolai Tesla the father of our modern elecritcal system attended engineering school where his teacher called his idea for the AC motor and AC generator "A perpetual motion scheme". He was also dead wrong about many things.
I see a world intent on making inferior ideologies and inferior people superior in a purely illusory entrenchment of institutionalization. An attempt to make all things circular where justice justifies itself and only itself.
Where the hungry lusting of young intellects is met with retards sitting in a library at Harvard masturbating declaring how much you like that and how good that feels.
The words I can understand. The problem I have with the interview is that it is the treasurer arguing for the chairman. The treasurer has no dog in the hunt about the Fed.
The chairman is not a good liar because he does not like to lie. We saw that at the BOA hearing about Merril Lynch. Geithner is not a good liar but he likes to lie. We see that everytime we see him.
We know that Geithner is a tax cheat. We know that Bernanke is a blackmailer. Together they most likely have caused a series of transactions to post to the books and records of the Fed, that were intended to facilitate the ultimate purchase and transfer of some type of security of which the Fed never actually took title.
Meaning, for the last 12 months, if one reconciles the control record to the source document, and then compares the source document to the monthly control document, one would find a series of entries on the source document that never had to be listed onto the control document. One could call it the unltimate suspense account. Entries to the control record that could not be posted to an account because of a lack of proper account number.
The only way to identify these entries is to reconcile the source records to the control records. Then, reconicle the control record to the control document.
My bet is that Goldman is involved and Bernanke will resign at the end of the audit.
Remember 10/12/09.
ya dog.
now we're getting closer to the flame...
An audit of the Fed is a waste of time. Just terminate it and put control of money generation back under democratic review.
Here's the thing about that: when money supply is under the control of a properly democratic government then purchasing power *actually* becomes an election issue. Inflation getting out of control? Boot the govt.
He's quick to point out that the Fed is reasonably transparent now. So what? Even if we can see and understand what they're up to (questionable), then there isn't a damned thing we can do about it. With a private banking union controlling money generation, the limit of our power consists of providing an inflation request to the Fed, before turning around and bending over to have that same target jammed straight where the sun don't shine.
Well hey, call me crazy but wasn't there a war one time to boot out the British banking system and take local control of money supply? Minus the usual counterfeiting problems (that afflict any system and were being strongly pushed by British interests), it worked damn well. In fact, it worked so well that it managed to deliver NEGATIVE net taxation. Active sabotage, incompetence and a collective brain-fade eventually handed the country straight back to the international banksters.
Hey, you remember that time when your little chums tried to shaft Lincoln by setting crazily high interest rates in order to bankrupt him into losing the war? And how he turned around and issued the Greenback on their ass for the win?
Oh yeah, and as to those banking crises that you mentioned, how about also mentioning how many of those events were known to be deliberately orchestrated by the very same folks who went on to cheerlead the Fed?
More info here: http://www.webofdebt.com/
I understand your position and have no problem with it. My remark is that it seems your position is similar to the guy who has rats in his house. He is not going to get rid of them because it will only make room for the rats that are living next door.
The U.S. Congress created The Fed after the European inspired Panic of 1907. Exactly as intended. And, just how many times did British agents try to assassinate President Andrew Jackson for abolishing The Central Bank? Twelve at last count.
Of course, The U.S. got that horrible recession during Andy's tenure that denied him a second term. Well, that is what you get for removing banking control from a few.
Time to debase the dollar to 100% and collapse the world. Think Weimar Republic and who came to power after that?
You should look at Audit The Fed movement as a flanking maneuver rather than a full frontal assault. The End Game is to End The Fed, but it will take many steps to get there. The first step is to expose the secrets and let the American people decide whether the Fed's radical actions were taken to protect the country or represent pure greed and cronyism.
That would work.
Geithner said "This crisis had a lot of causes, one of the causes was that monetary policy was too loose, too long; interest rates were too low."
NO KIDDING! So now you clowns think this is the cure for what caused the problem last time around? Rates are even LOWER now..........
At this point, I don't think politicizing monetary policy is necessarily a good idea.
What we should demand, however, is an accounting of who is receiving funding and what type of craapy collteral is being used to prop up the system.
I'm still astounded by the coordinated efforts of those in power to do whatever it takes to conceal the truth. Do they have any idea that the consequences of doing so could be critically severe?
Dr. Strangelove!
Auditing the Fed is like auditing the Matrix
I vote this comment of the week
I have lost all contact with the site. My bad
please disregard
Fed/GS = Matrix
Fed Audit Would Be Problematic For The Country-
yeah we'd find out how many SPY and S&P futures they bought.
Holy shit yes.
It's scary. Once the genie is out of the bottle, Americans JUST MAY tar and feather the whole lot, from Congress to the Fed to the banks. Can't wait.
an assembly system , the car manufacturers are now laying off workers because they understand that demand
His voice reminds me of Agent Smith... "Never send a human to do a machine's job."
I get the feeling things are about to get real dicey. It's a horrible admission that it would be "problematic" do audit them?! Come on! That kind of talk get me thinking about turning my cash into gold and silver. Which may not be a bad thing to start thinking about. I just checked the widget ExactPrice and I don't know if it'll stay this low for much longer given Geithner's admission and the fact that China doesn't want anymore or our debt.
Not to fear once H1N1 has run its course the next down turn in the economy will commence. For this will be the catalyst for the next sh*t storm. Economy looks to be on the recovery path thanks to Obama and the gang, then boom H1N1 to screw everything up. How convenient. The MSM is
slowly but surely programming the sheeple. Obama will go on television asking all to band together in this time of need yada yada yada.. You get the picture. Looking forward to the show..
/agree
big difference between "looks to be" as in it appears that way and what is actually happening.
no recovery anywhere.
don't believe the bull shit.
we haven't seen the desastrous bottom yet, ergo no recovery.
yes, yes, yes. "things were going swimmingly great until the HINI came along and wrecked the recovery". guaranteed to happen this way.
Must see pic from those crazies at freakingnews.com
http://www.freakingnews.com/New-Presidential-Sponsor-Pics-69866.asp
TO ALL THE RIGHTEOUS posters on ZH:
PLEASE GO to FORUMs: General Topics: then "why is tyler anger" and comment on what was posted there...
I don't read the forum regularly, but when i saw that post, i had to read it, and naturally, i had to comment...hope you will too.
For the next interview, maybe they could choose a throne or something, with marble stairs and a shining crown.
The Federal Reserve Board is audited every year...by Deloitte & Touche actually.
http://www.federalreserve.gov/boarddocs/rptcongress/annual08/sec6/c2.htm
(I think they need to be torn a new one myself, but what kind of audit is the question.)
The reserve banks too...this is where the trillion dollar balance sheet lies.
http://www.federalreserve.gov/boarddocs/rptcongress/annual08/sec6/c3.htm
Just got home from a shitty day at work to find a steaming pile of dog shit in my yard! Pissed off, I came here to ZH, after that 19 minutes of shit out of Timmy's mouth, i was actually laughing!
Tim doesn't want to allow harm to those who had nothing to do with this crisis. So, do your effing job and stop devaluing the effing dollar. Devaluing my %^$% dollar savings is NOT protecting the US people. Do your job and reward savings and not drive people into the credit abyss. LOSER
This guy T Cube is easily identifiable as Sociopathic liar.
Timmy is starting to sound like a wise guy:
http://www.washingtonsblog.com/2009/08/torturers-and-con-artists-play-ol...
here's the thing about this interview:
most of the questions were peppered with obvious & glaring factual errors, like the GS question for example. this gives T3 (in the place 2B) an opportunity to dismiss these questions as unfortunate falsehoods made by misinformed proles.
this is a very similar tactic used by Mr. O in the healthcare debate (and the legalize cannabis question #1 on change.gov).
if you haven't realized already, D. A-Rod makes Rove the Rat look like a 2bit travelling snake oil salesman.
his team are writing the book on Bernays 3.0. (Edward for you who have not watched century of the self).
the team is probably even scouring every post by 40 tylers and a marla every single day to get a gauge on the current zeitgeist.
all the more reason to have one's ducks in a row every time one writes one word publicly (and you can't get much more public than the internet).
and the next time WSJ does an interview based on questions voted on digg, the ZH clan should swarm on that site like a herd of locusts. 753 for 2nd place is child's play.
time to take it to the next level, kiddees.
this interview tells ya all ya need to know to beat spock & pinnochio on the chessboard.
the fact that they even have to respond to these sort of 'wild allegations & conspiracy theories' should give ya an inkling that there's something lurking behind the curtain...
Can big T answer just one of the DIGG questions?
I tend to agree with Geithner that auditing the Fed would be problematic for the country. Auditing the Fed would be a little like trying to unravel that ball of Christmas lights that gets lumped together after the holidays and thrown in a box. Just easier to head to Wal-Mart and buy a new set of lights manufactured in China than tackle that thing.
Maybe we could entice the British to invade again like they did in 1812 and finish the job they started.
EXCUUUUSE ME... Since when is the Fed politically neutral, as not only Geithner but mainstream economic thinking has it? It is fictitious and impossible, no matter who runs the Fed and whether or not any degree of transparency exists. At present, a significantly closed-to-the-public set of policies is still being implemented, arguably in the interest of the big financial institutions above all else. Geithner may even truly believe in the Fed's being above politics. But that's ultimately due to Fed actions having been complacently unquestioned for a very long time.
-AnonymousZero
A couple of hundred coments here, with virtually every one displaying anger, frustration, contempt and hatred for Geithner.
Unfortunately, he is Secretary of Treasury and you are not.
He wins, everyone else (outside of Geithner's future universe of employers) loses.
And it ain't going to change. No one with any power is going to do anything about it. Ever.
Must be you Timmay--you forgot to add na na nana na.
No, it is definitely not the Stepford Secretary. It's just another wildly frustrated nobody trying to think of a viable solution absent violence.
Civic and Elantra are all more than 50% North American in content with final assembly in North America for the US
So, has anyone considered that maybe Turbo Timmy is telling the truth in this instance? Perhaps an audit of the Fed would actually be harmful to the US - maybe immediately and in a big way. Maybe the Fed doesn't actually own any gold any more. Maybe all that gold has been shipped overseas to creditors no longer willing to take dollars. Maybe the Fed has a whole bunch of liabilities to foreign countries (think middle east and Nixon's closing of the gold window) that exceed even the incredible liabilities that are out in the public view.
I am confident most posters here have considered that, but you are missing the point if you stop your question there--if there is nothing criminal to hide, then why hide? If on the other hand there is criminal activity, the world will only hold the United States accountable if we continue to act as accomplice to these very high crimes.
http://www.imf.org/External/NP/EXR/faq/goldfaqs.htm
http://www.house.gov/jec/imf/gold/gold.htm
http://www.imf.org/external/np/exr/facts/gold.htm
http://www.reuters.com/article/bondsNews/idUSLT8846420090329
http://www.bicusa.org/en/Article.3698.aspx
First off, we never had a true gold standard. It was a pseudo gold standard. I use to wonder why they were selling the gold. And then I also use to think we were a free society. The question isn't how much harm will be done with a real audit of The Fed. It's how much harm has already been committed and how long you allow it to happen. If the truth comes out, the SWHIF. And one reason they were/are selling gold will become clear. You can't return to the coveted gold standard if it's gone. Do you think that's air you're breathing?
He answers some interesting questions as he talks about why the Fed is so important but nobody asks at what point is the cost too much. Is the dollar dropping from over 350 yen in 1970 to under 100 yen worth it? If we drop to 75 yen this year, is it worth it? What about 50? How about some other store of value like oil? Bread has doubled the last couple of years. Maybe he thinks all of the above is alright but let's hear a number and then we can decide for ourselves. Remember Nixon and Greenspan both saying the dollar losing value is only important if you travel. Well, maybe we're reaching a point where it matters.
Geithner: "Fed Audit Would Be Problematic For The Country"
Putrid little punk using polysyllabic mumbo jumbo with the pre meditated intent to intimidate , deceive and defraud?
Boy, no truer words were ever spoken. "Problematic for the county.." - translation, "Cause interest rates to shoot higher as Tbond investors around the world realize they've been duped and demand a fair return for buying these low-yield junk bonds"... is what he really means...
I can honestly say this guy is a cock sucker. And I can't say that I have ever uttered those words in my life. He is a lying fucking prick munching asshole. By the way, I have a good friend who graduated from Devry. He'd mop the floor with Timmy.
Bernanke, taking his marching orders from Tim Geithner of the NY Fed, saved JP Morgan, GE and Goldman Sachs, whose kingpins, Dimon, Friedman and Immelt sat on the Board of the NY Fed. They ran Geithner, who ran Bernanke who ran the Federal Reserve Bank. The Federal Reserve Bank ran the US economy into the ground.
The hyperinflation guys, like Faber, Rogers and Schiff, are very worried that the trillions in US deficits will bring the dollar crashing down, but if you really look at what's happening, the huge amount of debt being created by the Fed and the Treasury to replace a huge amount of collapsed bank credit caused by toxic paper being hidden in the "strong" banks' level 2 and level 3 assets, will end up being little more than a wash. Other than bankster bonuses, few of those dollars are finding their way into the Main Street US economy.
The dollars the Fed and Treasury are creating may be little more than water poured into sand, and, at worst, spit in the ocean. 75% of the world's liquidity is made up of derivatives (futures, options, swaps, etc), and another 13% is probably securitized debt (mortgages, asset backed securities, etc). Real dollars make up only a small part of the world's liquidity, and who can account for all those dollars that are being held overseas? This is a monetary system based totally on faith.
Still, the future for the American economy is grim. Real unemployment will grow to between 25% and 30%, taxes will continue to go up, insurance premiums will rise, even though those companies may never have the money to pay out, pensions will go bust, and those with jobs will just have to learn to live with less, as their salaries fall. Companies like Goldman Sachs will thrive like cockroaches off of the taxpayers' money, or they will make one big pop and go private, so that no one will be able to track their nefarious deeds.
With constant Government infusions of money that are created from thin air, who is to say that the this horrible economy can't last for another 10 years? The Japanese have been monetizing their bonds for the last 10 years. The bottom line is, whether the US goes into default, hyperinflation, or suffers from a continually lower standard of living for the next 10 years, life in America will be hell in the future. Walmart, where we will pay more for lower quality goods, and where we will have fewer choices, shall evolve into the premium place for Americans shop.
At 10:45: “We have been forced to do just extraordinary things, and frankly offensive things, to help save the economy from the risk of even more catastrophic damage.”
And Americans will be forced to do offensive things to take the country back from Tim and Ben and Lloyd and Jamie.
We know that Paulson sold his GS stock and received a nice tax break from GB and rolled that 400 mil into treasuries. Good trade no! Then he bought a nice place across the bay from Jekyll Island. Wow -this guy's picture is on Wiki for defining a sociopath. Timmy on the other hand may not fare so well. How can anyone top Paulson.
u know i never even made that connection btw the bird sanctuary that paulson owns and its proximity to jekyll island until now...
nice catch
...hopefully it's also within the boundaries of the bermuda triangle...