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Saxo Bank Joins Chorus Of Voices Calling For End Of The Federal Reserve
Following the recent surge in Fed critics, including Gross, Buffett, Grantham, and most other self-respecting economists, Saxo Bank's John J. Hardy (blog link) shares the most recent, and very scathing, critique of the Fed, which essentially calls for the end of the US central bank, saying the days of the Fed are now numbered.
So, Ben, let’s get this thing over with and let’s test how this market is positioned for what you have to say today. We’re tired of speculating and gaming what you may or may not write in today’s statement and how many billions of dollars you might conjure into existence on a monthly basis for the next year or more. Bring it on: let’s watch another wave of monetary policy history crash over us as you pull out the hammer and close your lips around another batch of coffin nails – ready to grasp the first nail to drive into the soon sealed coffin of Keynesian economics and then another in the coffin of fractional reserve banking and perhaps another into the coffin of fiat currencies. Oh, it’s all the same coffin? Fine – it will go quicker that way. Just remember to save a few nails for the millions of coffins of pensions and savings: for all of the responsible people who didn’t join in on the credit bonanza of the last few decades and spent their lives scrimping and saving. Let’s devalue their savings and nuke the US currency rather than go the quicker and more just road of default, shall we? Extend and pretend is the Fed’s motto, after all. Just watch out for those new crazies on the Hill that are starting to bang on the doors of the Eccles building. Will they break in and cart you off before you’ve finished your final magnum opus – the end of the US dollar and the US economy?
Bring it on, Ben: take us that much nearer to the denouement of 100 years of US Federal Reserve. There won’t be a second hundred years. The final countdown starts now.
Amen
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Obama speaks at 1:00 ET. Might want to start drinking at 12:45...
pls provide source
If the Fed doesn't print, our government is going to seriously need to cut expenditures to the core in order to avoid defaulting on all that debt. No politician would be able to stay in office long enough to vote for austerity. The end is indeed nigh.
just witnessed a classsic takedown of both Gold & Silver n seconds...
11.00 dollars & 50cents respectively...these fucking bankers dont even try to make it look believable....
i stand corrected...Silver now down almost a dollar and Gold now down 18.00...
Whenever silver is knocking on the $25 door they both get slammed.
Tyler : everyone loves this post !! people respect you for starting this website & i for one am grateful for my education here on ZEROHEDGE. As an older person i can't believe how stupid i was before finding the truth. When the rest of Americans finally wakes up to the fact that all they had to do was buy silver & gold during the past 30 years of suppression it's going to be a nightmare.
I'm 63. I thought I've seen about everything. Until 2007, when the crap hit the fan. Tyler publishes all of the info that the main stream media controlled by the gov't, doesn't want the general public to know. Pass it on.
End the Federal Reserve.
This is a popular demand. Other than being the lynch pin for fractional reserve banking, what other functions do they serve? Aren't they the clearinghouse for checks? Who, or how would this function be served?
I am just trying to learn here, and I have a feeling that there is more to the FED than the FOMC and discount windows. Isn't it amazing? Me, being Jewish, and not knowing all there is to know about how the federal Reserve works....
http://market-ticker.org/akcs-www?post=171120
From Carl Denninger...
Uhmm, OK. Thanks. That explains everything in just a few succinct words.
Hmmm, love the scent of blood in the water..
The job of Central banks is protect the value of money not the value of the Administration.
Another one bites the dust-- MGM just filed for BK protection. $4 Billion vanished like that. Expect $20 movie tickets.
well remember what i said all summer?
LONG live S A X O bank. because brothers andy and frank schleck were on team SAXO bank. andy could still awarded top TdF spot, if contador gets busted for plastic in his blood. they both left SAXO bank to race for a luxembourg team (home country). which is ok with me. fabio is still with SAXO bank and well he is just, fab i Ø.
i admire this man's words. courage is what they are, pure courage words. we need more
C O U R A G E , bitchez.
and you don't think the Schlecks dope????
they ALL do. Every last one of them. If you didn't, it would be impossible to compete at that level. They've been doping since the 60s or 70s.
Prof. Michael Hudson gave a great conference in Berlin:
U.S. “Quantitative Easing” is Fracturing the Global Economy
http://www.globalresearch.ca/index.php?context=va&aid=21716
Another open letter to Mr. Benjamin Bernanke, PHD...
You are nothing more than a puppet for your masters...that being the Rockefellers, Rothschilds, Morgans, Warburgs and so on. If you had an ounce of moral and ethical values within you (and the guts), they wouldn't "own" you...but they do. Have you no conscious? Of course you don't. You are merely a robot for them....just another one who they have bought to perpetuate the evil the owners of the Fed have done this country and others around the globe. Do not even attempt to deny what is really going on Mr. Benjamin Bernanke, PHD. You know what's going on.
So what are you going to do Mr. Benjamin Bernanke, PHD? Will you continue on this path for personal gain at the expense of society as a whole, or will you have the honor to make amends and get up their and tell the truth?
With high probability, we already know the answer to that question...that being you will bend over to your masters and do their bidding.
Thank you Mr. Benjamin Bernanke, PHD
P.S. and you have a PHD in economics from MIT. I didn't know they taught that counterfeiting is lawful...for the few.
Continued from above:
Mr. Benjamin Bernanke, PHD
Are you the kind of father you'd like your children to really see and look up to? Is this what you teach them? It's stealing Mr. Benjamin Bernanke, PHD. Yes it is...it is stealing. This is what you teach your children. If they don't know it now, they eventually will.
Congratulations Mr. Benjamin Bernanke, PHD
+1, and +1..
Consider this a repost w/ Mr. Timothy F. Geithner <=> Mr. Benjamin Bernanke, PHD
Is that a roll of silver maples in your pocket or are you just happy to see me.
"The key question basically is in what currency do you wish to hold your assets and what I've done is I diversify".
Alan Greenspan.
When I heard this I thought...this was the guy in charge of protecting my currency!
Watch from 5:23 . . .
http://www.cbsnews.com/video/watch/?id=3265944n&tag=related;photovideo
It's not your fault Ben. You did what you had to do....Oh forget it. Drink the Kool Aid before the mob gets you. No...Seppuku Ben...Go out with honor.
by CalculatedRisk on 11/03/2010 11:12:00 AM
Note: The real key is the seasonally adjusted annual sales rate (SAAR) compared to the last few months, not the year-over-year comparison provided by the automakers.
From MarketWatch: GM reports 3.5% rise in Oct. U.S. car sales
This is not adjusted for selling days, and there was one more selling day in October 2009 than in October 2010.
Once all the reports are released, I'll post a graph of the estimated total October light vehicle sales (SAAR) - usually around 4 PM ET. Most estimates are for an increase to 12.0 million SAAR in October from the 11.71 million SAAR in September.
I'll add reports from the other major auto companies as updates to this post.
Update: from MarketWatch: Ford U.S. October sales rise 19.2% to 157,935
From MarketWatch: Chrysler October U.S. sales jump 37%
Silly talk to get rid of the Fed. Better to make all approriations bills a 60% supermajority to pass and take away some Executive power (like being able to waive capital rule on 5 big investment banks in 2004).
Sure, "End the Fed". But how, exactly?
Here's an idea to start the process: issue new, non-transferable stock in the federal reserve banks to individual taxpayers in an amount sufficient to submerge the bankster's power over the institution.
http://www.youtube.com/watch?v=-io-kZKl_BI&feature=related
Talking heads............ Once in a lifetime
yup. . . "same as it ever was". . .
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