A Paralyzed Fed Defers Decision On Monetary Policy To Primary Dealers In An Act That Can Only Be Classified As Treason

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Thu, 10/28/2010 - 00:32 | 682440 Mercury
Mercury's picture

Wow. Just wow.

Hi, Morgan? It's Ben, I'm thinking of a number...

Why doesn't Ben also ask which cusips the PDs would like him to buy too?

Thu, 10/28/2010 - 00:47 | 682477 Flatchestynerdette
Flatchestynerdette's picture

i grin at your comment ;-)

Thu, 10/28/2010 - 00:50 | 682487 66Sexy
66Sexy's picture

satan laughing, spreads his wings.

 

howz about, 666 billion... or 6.66 trillion.

Thu, 10/28/2010 - 01:37 | 682556 tomdub_1024
tomdub_1024's picture

about the 5 min mark...gotta love Ozzie...

http://www.youtube.com/watch?v=gbxfe7DMxVo

Thu, 10/28/2010 - 07:36 | 682798 Cruel Aid
Cruel Aid's picture

I relate, nice custom lefftie Tony's playing.

Thu, 10/28/2010 - 09:41 | 683044 chopper read
chopper read's picture

treating people just like pawns in chess

wait till their judgement day comes!

http://www.youtube.com/watch?v=gbxfe7DMxVo

Thu, 10/28/2010 - 08:36 | 682901 belsebub
belsebub's picture

Jesus (Anti)-Christ!!

Thu, 10/28/2010 - 09:27 | 683007 G-R-U-N-T
G-R-U-N-T's picture

Hey, at least Fraudzilla according to the Treasury is No "Systemic Risk" It's Official!

Hm....

http://online.wsj.com/article/SB2000142405270230344390457557874099701660...

 

Thu, 10/28/2010 - 09:42 | 683045 chopper read
chopper read's picture

A Treasury Department official said "there is no evidence of a systemic risk" from potential repurchases of flawed mortgages by U.S. banks.

wow. 

Thu, 10/28/2010 - 02:10 | 682598 theXman
theXman's picture

Time to give them a bona fide disruption -- END THE FED!

Thu, 10/28/2010 - 04:07 | 682672 scaleindependent
scaleindependent's picture

**** NEWS UPDATE 11/4/2010 *******

 

THE FED HAS ISSUED A SURVEY TO THE 18 PRIMARY DEALERS, REQUESTING FUTURE AUSTERITY DECREES ON UPCOMING NEW FISCAL YEAR 2011.

THE PRIMARY DEALERS HAVE STIPULATED THE FOLLOWING AUSTERITY MEASURES:

1. 401k's to be discharged by owner at age 70.

2. Dissolution of Welfare.

3. VA benefits to be cut in half.

4. Grand Canyon National Park to be sold to Las Vegas Sands, Inc.

5. Medicare rates to physicians, hospitals and health care workers to be cut by 35%

6. No payed sick leave.

7. No maternity leave.

8. The dissolution of the following US govt. services;  EPA, secretary of health and human services, Education, Veterans Affairs.

9. Pentagon budget to increase by 30%

10. National Guard budget to increase by 100% in urban areas to protect the peace.

11. The SCOTUS will hereby be named the MTOTUS.

12. Free Ipod Shuffle to all Americans!

 

13. Fill in the blank...

 

Thu, 10/28/2010 - 04:22 | 682691 goldfish1
goldfish1's picture

13. A Tyson breaded GMO "chicken" fillet in every pot.

Thu, 10/28/2010 - 10:22 | 683149 chopper read
chopper read's picture

+1

Thu, 10/28/2010 - 08:25 | 682876 Freewheelin Franklin
Freewheelin Franklin's picture

4. Can we get the Vegas Sands over here in AC to buy this monstrosity formerly known as Revel Entertainment, first?

 

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

 

 

Thu, 10/28/2010 - 08:28 | 682882 SheepDog-One
SheepDog-One's picture

This is now advanced to the stage that actions must be taken to stop this entire operation, the whole damn thing must be brought down.

Thu, 10/28/2010 - 10:54 | 683263 downrodeo
downrodeo's picture

Sweet, i think people are starting to get serious about this. December 7th, 2010

 

http://www.facebook.com/event.php?eid=137793666269183&ref=mf

 

 

Thu, 10/28/2010 - 03:02 | 682633 iconoclast63
iconoclast63's picture

"If you choose not to decide, you still have made a choice."

Thu, 10/28/2010 - 07:47 | 682810 New_Meat
Thu, 10/28/2010 - 11:06 | 683301 chopper read
chopper read's picture

+2112. that song has been running through my head a lot lately.

Thu, 10/28/2010 - 04:10 | 682677 deKevelioc
deKevelioc's picture

Money for nothing and the chicks are free.

 

Thu, 10/28/2010 - 04:11 | 682682 deKevelioc
deKevelioc's picture

Money for nothing and the chicks are free.

Fri, 10/29/2010 - 13:06 | 686101 Randall Cabot
Randall Cabot's picture

checks. It checks for free, not chicks.

Thu, 10/28/2010 - 08:41 | 682919 aldousd
aldousd's picture

"Hi, Morgan? It's Ben, I'm thinking of a number..."

Party-line like it's 2008.

Thu, 10/28/2010 - 11:04 | 683292 NumberNone
NumberNone's picture

Picking a number out of the air worked for Paulson and Goldman Sachs before to the tune of $700 Billion.  Why lowball now?  Shoot for the freaking moon!  

Tue, 04/26/2011 - 13:28 | 1208274 william.smith61
Tue, 04/26/2011 - 13:31 | 1208275 william.smith61
william.smith61's picture

Air Fuel Ratio Sensor SWR, I followed your comments over at KD's site and found I usually agreed with you. That was a prescient article especially for it's time. 2 trillion stands on the Fed's balance sheet currently, add another $4 trillion and we do in fact arrive at $6 trillion. But that is most likely a low estimate, they will in fact be forced to further devalue the dollar, probably until it just snaps one day in a crisis of confidence. Again, you have stated this over and over in KD's site. Kudos.

Thu, 10/28/2010 - 00:31 | 682441 joe.schmuck
joe.schmuck's picture

Thomas Jefferson is spinning in his grave, sigh.

Thu, 10/28/2010 - 00:45 | 682472 flaunt
flaunt's picture

Finally got my zerohedge account approved!  Yay!

What I really wanted to say was I don't think TJ or any of the founders would be at all surprised were they alive today.  They wrote about what would inevitably happen while they were still breathing.  No, if you woke them out of their sleepy graves and told them what was happening they'd say, "what the hell did you expect," roll over, and go back to sleep.

 

Thu, 10/28/2010 - 00:57 | 682496 Howard_Beale
Howard_Beale's picture

It's not like this is the first time this has happened. Good read: 13 Bankers

Thu, 10/28/2010 - 01:04 | 682512 Unlawful Justice
Unlawful Justice's picture

I concur.

Thu, 10/28/2010 - 09:40 | 683041 packman
packman's picture

It's not like this is the first time this has happened. Good read: 13 Bankers

Haven't read it, but based on commentary - it's junk.  Its base premise is the same faulty premise made by those that created the Federal Reserve in the first place - that the corruption in the financial industry is the fault of free market capitalism; with the conclusion that it's up to government to keep the industry in check.

Well - we see now how that worked out.  Not so well.

 

Thu, 10/28/2010 - 09:51 | 683064 packman
packman's picture

It's ironic, BTW, that on the actual website of the 13 Bankers book, it presents the airline industry as an efficient example of how an industry should be managed by the government:

Over the last 50 years, the FAA, the airline manufacturers, and the airlines worked together to make a highly complex air travel system more efficient and much safer. If you’ve ever wondered why, in contrast, our financial regulators and banks made our financial system less efficient and much more dangerous, you should read this book.

Yet this is quite counter to one of the book's primary recommendations:

The alternative is to confront the power of Wall Street head on, which means breaking up the big banks and imposing hard limits on bank size so they can’t reassemble themselves.

(emphasis in original).

Hmmm - I'd be curious then to see Johnson and Kwak (authors of 13 Bankers) produce a list of what were the original larger airlines that the current airlines were split up from.  I'm not aware of such forced breakups.

In other words - size is not the issue at all.  Influence is.

 

Thu, 10/28/2010 - 13:37 | 683786 Geoff-UK
Geoff-UK's picture

Yeah, I subscribed to their feed until the weird feeling I got going there erupted into an "aha" moment of recognizing--wait a minute, these guys aren't free market, they're just arguing about who should be in charge!  Maybe they're sending out a copy of their resume with the book as they mail it to Ben Bernake...

 

"I can't stand this indecision,
Married with a lack of vision,
Everybody wants to rule the world..."

Thu, 10/28/2010 - 14:03 | 683867 i-dog
i-dog's picture

"presents the airline industry as an efficient example of how an industry should be managed by the government"

WTF?!  The US airline industry as a whole has NEVER made a profit since its inception!! The taxpayer subsidises it to support government's military objectives. JFC!

Thu, 10/28/2010 - 08:01 | 682831 Kopfjager
Kopfjager's picture

Well, maybe more than "what the hell did you expect."  More like, "and you just sat there and let it happen?" 

Thu, 10/28/2010 - 19:54 | 684817 Dave
Dave's picture

Hamilton may be suprised. He finally got what he wanted after all

those years getting his ass kicked by TJ and Madison.

Thu, 10/28/2010 - 00:31 | 682443 Charlie Bravo
Charlie Bravo's picture

Uh oh.

Charlie Bravo

Thu, 10/28/2010 - 01:05 | 682514 The LD
The LD's picture

Banana Republic...Confirmed!

Thu, 10/28/2010 - 00:32 | 682445 ebworthen
ebworthen's picture

If only, if only, the masses, the sheeple, would know the truth.

Thu, 10/28/2010 - 00:41 | 682462 Chito Campo
Chito Campo's picture

All that we see or seem is but a dream within a dream.

Thu, 10/28/2010 - 04:23 | 682694 goldfish1
goldfish1's picture

And what would "the people" of limited intelligence and education, do with "the truth"?

Thu, 10/28/2010 - 06:01 | 682710 Cognitive Dissonance
Cognitive Dissonance's picture

What are "we" here on ZH doing with "the truth"?

Thu, 10/28/2010 - 06:57 | 682775 i-dog
i-dog's picture

Hopefully, spreading it to as many family, friends and colleagues as will listen! (And even those who don't want to listen!). The depth of info here gives enough ammunition to answer the usual objections raised by the ignorant.

"From a tiny acorn, a mighty oak tree grows".

Thu, 10/28/2010 - 08:38 | 682909 Dangertime
Dangertime's picture

That will not help much.

 

Even during the revolutionary war, less than 10% of the citizens actively fought against the British.

 

Even if we were to wake up 10% of the population, which is probably a fairly accurate count at the moment, they would never be able to overcome the rest of the voters who "just do not get it".

 

Open revolt is the only solution.

Thu, 10/28/2010 - 08:55 | 682947 Cognitive Dissonance
Cognitive Dissonance's picture

Even during the revolutionary war, less than 10% of the citizens actively fought against the British.

But that doesn't mean that only those 10% were awake or aware of what was going on. And the comparison is useless anyway because there was a clear, and nearly equal, divide in the citizens between those who saw themselves as loyal British subjects and those who felt they were no longer bound by British law since they weren't represented in the making of British laws.

Even if we were to wake up 10% of the population, which is probably a fairly accurate count at the moment, they would never be able to overcome the rest of the voters who "just do not get it".

Please describe to me what you mean by "wake up" because even here on ZH there are plenty of people who are not "awake" to all that's going on. Don't judge ZH by the comment section when less than 8% of the people who read ZH comment on ZH.

I arrive at this percentage based upon the number of "reads" (as a contributor I see the "reads" number) of an article, which doesn't filter out people who return repeatedly to the article so the "reads" number is over stated, and the number of unique comments left. There might be 200 comments, but that doesn't mean there are 200 unique comments. Many people leave multiple comments.

Besides, people "just don't get it" because they don't wish to get it. They sleep not because they are ignorant, but because they are willfully ignorant. BIG difference.

Thu, 10/28/2010 - 12:19 | 683364 chopper read
chopper read's picture

Please describe to me what you mean by "wake up" because even here on ZH there are plenty of people who are not "awake" to all that's going on.

Besides, people "just don't get it" because they don't wish to get it. They sleep not because they are ignorant, but because they are willfully ignorant. BIG difference.

in the end, there are three types of folks:

1. those who wish to be ruled, and prefer not to think about whether or not their overlords will lead them to their own extinction. 

2. those who wish to rule, believing that this is their only way to survive long-term.

3.  those who do not wish to rule or be ruled, wishing only to improve their probability for peaceful long-term survival without deliberately murdering the competition in the process. 

perhaps #2 is most realistic, but #3 is most ideal where it is even possible.   

I've always said that my belief in liberty extends to my own child in this way:  if she is smart and hard working then she will do great.  if she is smart and lazy then she will do fine.  if she is dumb and hard working she will be fine.  if she is dumb and lazy, then she has failed humanity and should not expect to be rewarded with liberty or survival at someone else's expense.  Smart folks bring good ideas.  Hard-working folks pull their weight and more.  This is peaceful progress; any alternatives are unjust, in my mind. 

Thu, 10/28/2010 - 12:22 | 683541 RockyRacoon
RockyRacoon's picture

CD, since I only have 12 hours a day to devote to ZH I have to be finicky about what I comment on, even though I read nearly every article.  Your points are well taken, but I think the 8% may be skewed since there is no breakout of the "regulars" who post comments and those who read only.   Anyhow, thanks for your observations.

Thu, 10/28/2010 - 19:48 | 684806 chopper read
chopper read's picture

since I only have 12 hours a day to devote to ZH

+1.  :)

around here these are part-time hours. 

Thu, 10/28/2010 - 09:32 | 683025 Dburn
Dburn's picture

33 Million Americans would listen to the explanation long enough to comprehend it?

Lets get some PowerBall tickets. The odds are much better. 

Thu, 10/28/2010 - 09:34 | 683029 SheepDog-One
SheepDog-One's picture

Actually only about 3% fought in the Revolution.

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