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More Fed Dissent Theater: Fed's Fisher Joins Lacker In "Just Saying No"
The "good money printer - bad money printer" routine is starting to get old. Dallas Fed's Fisher joins Richmond's (non-voting) Lacker in saying no more QE. Earlier today the Dallas Fed president was heard saying anathema things like: "Very eary of further expansion of Fed's Balance Sheet", "Fed is Pushing the Envelope with Asset Purchases" and concludes that we would "probably" dissent in any vote for further QE. Um, great. You have vote Dick, use it. Same goes for Plosser and all the other wannabe Hoenigs. Oh yeah, also while you are at it, please explain just who will be buying the $4 trillion in debt to be issued in the next two years (ref: $32 Billion 3 Year Auction Prices At 1.349% As Foreign Bid Plunges And Fed Indirectly Pockets 62% Of Issue).
Full highlights (more as we get the interview).
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Needs moar cowbell. One of them should probably shoot tim geihtner for street cred.
Feds Fischer "There has been a rush back into the dollar"
Did he really say that. That has to be shooped.
But Lockhart just said inflation is too low (for them to be COMFORTABLE)!!
http://finance.yahoo.com/news/Feds-Lockhart-says-inflation-rb-134340509.html?x=0&sec=topStories&pos=4&asset=&ccode=
Who do you believe ?
Even folks commenting on yahoo finance are skeptical....
The FED wont see ANY inflation until gas is over $8 and a bowl of broth costs $50.
LMFAO - Needs More CowBell! +1,000 TD please propose a new COWBELL DERIVATIVE - Jamie Dimon will DEFINITELY buy it OR Goldman Sachs can offer it under the brand name 'TIMBERBELL' - that is one sh*tty BELL!
As Paul Ryan (R-Wisconsin) stated today on CNBS, Fiscal policy (is there any, other than spending even more FRNs?) is on a collision course with Monetary policy (is there any, other than "printing" even more FRNs?)
Somehow, we're all supposed to believe that the Federal Governors have any other choice, besides monetizing the debt -- guess I'm gonna have to "contribute" to economic growth by buying a 12Ga Mossberg...
they have now inflated the russell to where it was prior to the crisis. some stocks are now hitting all time highs....
what Ben doesn't seem to grasp is that he has literally set the table for the banks now to rob the populace deaf dumb and blind as this house of cards collapses.
terrifying. when is someone gonna stop this guy?
Surreal... grab your pitchforks boyz. TSHTF now!
When will they be stopped? Never.
"Give me control over a nations currency, and I care not who makes its laws" -- Baron M.A. Rothschild, same guy who helped create the central banking system used today.
"Never forget that everything Hitler did in Germany was legal." -- Martin Luther King, Jr.
"I would be very wary of expanding our balance sheet further; indeed, given current economic and financial conditions." -Richard Fisher February 8, 2011
http://dallasfed.org/news/speeches/fisher/2011/fs110208.cfm
QE is over. The fat lady is warming up.
Just trying to jawbone down the inflationary scare and start a run out of commodities. Pay no attention to the men in suits who say shit they don't mean because if they didn't they'd lose their pathetic jobs as central bankers.
Central bank employees: get fucking real jobs.
Post of the day. Well done, sir.
Hell, if they are confused and dont know what they are doing and what they are creating, what the hell do they think we are doing besides watching us approach a brick wall at 1500 feet per second. BAM!!!
WOW! 1,500 ft/sec. Thats a little over 1,000 miles per hour. At that rate, faster than the speed of sound, we will hit the wall before anyone hears about it.
El-Erian says Ben's inflating the whole
world in fear of Depression. Makes me
feel so much better.
Which says it's really a Depression
with inflated asset prices. GTFO
(get the fuck out)
'Depression with highly inflated prices'...ZACTLY! Hell its a ruined country with no real economy to speak of other than printing more fiat.
Are you kidding? There's even a patch you can wear to show pride in our economic bulwarks:
http://www.itstactical.com/wp-content/uploads/2010/03/GunsAndCoffeePatch...
Wow thats pretty nice looking, think I'll order one on my Chase card, then cut up the bill.
A nice "tacticool" addition to liven up one's plate carrier.
+1 - What would Jennie Craig Do?
Not when you measure asset prices in real money (gold). The buying power of gold continues to rise, just as is expected in a deflation.
HOLY MOSES!!!
WHAT THE HELL ARE THEY SMOKING?
Lord come now!
>>"The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers."<<
They wont be happy till gas is at $8 and it takes $100 to buy stuff for Hamburger Helper dinner at the store!
Theater of the absurd.
The Bernankenstein will never stop.
ZIRP/QE4EVA.
This is just a dog-n-pony show.
going cold turkey on the QE pipe.. good luck with that.
lol
Hey at some point, that HAS to happen! The 'QE to infinity' line is nonsense, theyre at the point where any more dollars means other thinks like bonds and PM's blow up, and these FED dissenters know it damn well!
It's a closed loop bankster market now as opposed to the old free market. After the banksters have wreaked enough havoc on treasury prices, the Bernank will instruct them to take their profits on stocks and commodities and skeedadle back into busted treasuries. And the
inflation they created will then magically disappear. That Bernank, he's a wizard.
I still dont see who it is they expect to sell millions of bubble stocks to when the 'signal is given'...the only point to a pump is the dump and that works great for 5% swings but this is a near 50% rise, 30% of it just since a few months ago and WHO do they have out there to sell to? Mom n pop will swoop in and grab all the shares off the bankers hands at market? I dont see it!
lol, that's probably the thing bernank
did not think about since he's an
ivory tower academic rather than a
trader.
Get some popcorn, sit back, and see how far
they can manipulate everything before
one thing or another implodes.
Thats certainly what Im doing, trading fiatsco's for ingots, and ammunition...other than that Im sitting back watching this clownshow.
There's no turning back! At this point in time, it's no longer possible to say no to the QE's infinitum.
The moment the Qe's stop, the whole Ponzi scheme will collapse upon itself. Whichever way you look at it, America is screwed and the rest of the world will have no choice but to share the suffering for a long time to come.
Worry that politicians may use war to divert attention.
me too.
I call BS on all of them. The USD was about to roll over and die when they came out with their stance on QE.
Maybe, but look at gold and silver. This clown party is over.
Shirley, give that man a cigar.
Mecca FRBNY matters most, methinks.
Benocide is past the point of no return.
Market crashes if QE 2 not followed through, or QE 3 is off table?
Seems we're at a tipping point for something.
Sell market short?
Go ahead, I'd actually LIKE to see Chairsatan go for another QE round! There goes the 10yr to 4.5, silver to 50 and gold to 1600 minimum! Not to mention food riots around the world that makes todays look like nothing when those commodities shoot to the moon. Go ahead Ben Shalom Chairsatan, whatever!
What would the rate have been to day on the three year bills if the Fed and its 60% purchase/share was taken out...me thinks it would be much higher....like 5%....if they could sell it at all....oh oh...that means some pretty good inflation...and a market crash....they can´t stop...they can only be stopped...
Bonds are blowing right through support
again.
Crushed, actually. Good one, Ben.
OT check this horror story:
The rise and fall of a foreclosure kinghttp://www.washingtonpost.com/wp-dyn/content/article/2011/02/06/AR2011020601899.html
Wasn't benocide telling everyone just the other day to keep the party line consistent? Why have Fisher and Lacker gone off the reservation?
Buzzy, just that it's mentioned in public shows us something is up. Perhaps they learned that they can't have their cake and eat it too. (Low rates + higher equities) Time to make a choice Uncle Ben!
: Fed's Lockhart says Egyptian events a risk, would affect US economically if there was a spike in oil prices
In case he hasn't noticed cos he doesn't fill his car up... the price of oil has gone up a LOT and especially in other countries!
Treasuries obliterated again.
Hope no one wants a loan while
jackass Ben inflates the world during
the Depression.
Ben Shalom's Treasury support program not goin so well!
Doesn't look like the PD's want to hold this pig until it can be POMO'd. Its trading at 1.41 now. Up 5 bps from when it was priced.
i think that they ae out of options and see the handwriting on the wall and are just trying to get out front of a deteriorating publice opinion
"Oh yeah, also while you are at it, please explain just who will be buying the $4 trillion in debt to be issued in the next two years (ref: $32 Billion 3 Year Auction Prices At 1.349% As Foreign Bid Plunges And Fed Indirectly Pockets 62% Of Issue)."
Tyler nails it again. Precisely to whom will the Treasury sell all this debt?
All this FOMC (open-mouth committee) bluster is just theater. They have no choice.
Who will they sell it to? Apparently none of the ivory tower academics thought of that. Pumping it up is fairly easy...now what?
What a bunch of asshats. They already let QE3 slip with "loose lips Hoenig" and now they're trying to backpeddle to give themselves some breathing room. Too late. Now if you pull it the markets are going to tank and your false recovery will be laid bare for all to see.
"just trying to get out front of a deteriorating publice opinion"
Since when did TPTB care about public opinion?
It's not a market. I can't take the short side of apple cause when it starts to roll over Ben stops it. I'm pissed. Be great to be an analyst though. Throw out any number you want and Bennie will have your back. Volume is horrid. Insider sales, manufactured employment #'s, and granny selling the last of her muni's and going long Netflix. This is like having a fruit and veggie market where you can raise your prices every day and people don't care and keep buying. This is freakin wrong.
“We need to get a handle on deficit spending but we can't do it right now.” It's a way to project an image of responsibility while at the same time allowing them to continue to act irresponsibly.
Mishkin will always be my idol:
http://www.zerohedge.com/article/watch-former-fed-governor-fred-napoleon...
But QE is BENificial to us all!!!!!!!!!!!!!!!!!!!! (not)
http://news.goldseek.com/GoldSeek/1296849600.php
Its really called a bunch of ass hats who have now pumped in about $30 trillion to banks which cant lend, and a stock and bond buying spree, and now have no way out.
pressure is rising on Benocide... he's not quite under the thumb yet but when he is it'll be a quick chop and off with his beard... then we can look forward to the autobiography, how he 'saved the world' not blow torched it with counterfeit money (usual public sector delusional BS)
Well this could be big...or not.