Federal Reserve

Tyler Durden's picture

The Fed's "Baffle 'Em With Bullshit" Strategy In 1 Simple Chart





Despite the promise of increased transparency, if you felt that deciphering Fed policy (other than uber-dovish, lower-for-longer, willing-to-wait, BTFD) became more and more confusing as the last few years progressed, you would not be alone. In fact, the complexity of the Fed's statements (not just the wordcount which we have noted numerous times) has surged from "Secondary School" reading level throughout Greenspan's era to "Post-Grad" comprehension at the peak of Bernanke's reign. Yellen, so far, has reverted modestly. As The Economist notes, this increased baffle-em-with-bullshit "Fedspeak" complexity is very reminiscent of the George Orwell's 1984-esque "oldspeak" or "doublespeak" used to keep a quiescent public bemused.

 
Tyler Durden's picture

What The Fed Has Wrought





The financial, economic and political system has been captured by corporate fascist psychopaths. The Federal Reserve has aided and abetted this takeover. Their monetary manipulations have resulted in this deformity. The American middle class has been murdered. Decades of declining real wages have left them virtually penniless, in debt up to their eyeballs, angry, frustrated, and unable to jump start our moribund economy by buying more Chinese produced crap. Yellen, her Wall Street puppeteers, and the corporate titans should enjoy those record profits and record stock market highs. The artificial boom will lead to a real depression. Luckily for the oligarchs, most middle class Americans are already experiencing a depression and won’t notice the difference.

 
Tyler Durden's picture

Confidence Lost - (Or When Words No Longer Matter)





Words, numbers, earnings and more at one time had a believable meaning. But that was a very long time ago. So long – even the news media seems to have forgotten what the meaning of words like business, free markets, capitalism and others once meant. Now it's nothing but a televised version of crony styled capitalism cheerleaders rolled out one after another in such procession P.T.Barnum would be proud. The problem is the more they talk – the more people tune out. For no amount of words stated matter any longer. Nor do the myriad of “charts” “reports” or so-called “facts” they hold up as evidence. No one is listening or watching. And what’s worse? Nobody now cares.

 
Tyler Durden's picture

The Cruel Injustice Of The Fed's Bubbles In Housing





As the generational war heats up, we should all remember the source of all the bubbles and all the policies that could only result in generational poverty: the Federal Reserve.

 
Tyler Durden's picture

European Bond Risk Plunges As Draghi Hints At Sovereign QE (Again)





Seriously!! Draghi utters a few words - all of which we have seen and heard a thousand times before:

*DRAGHI SAYS ECB WILL DO WHATEVER IT TAKES, WITHIN ITS MANDATE
*DRAGHI SAYS EXPANDED PURCHASE PROGRAM COULD INCLUDE GOVT BONDS

and EURUSD, European stocks and bonds get uber-excited... which is odd because as Draghi himself noted in Dec 2011, the "Treaty prohibits monetray financing."

 
Tyler Durden's picture

Paul Craig Roberts: The Global Financial System Is "A House Of Cards Resting On Corruption"





Washington’s ability to rig markets has allowed Washington to keep its economic house of cards standing. The extent of financial corruption involving collusion between the mega-banks and the financial authorities is unfathomable. The Western financial system is a house of cards resting on corruption. Can it stand forever or are there so many rotted joints that some simultaneous collection of failures overwhelms the manipulation and brings on a massive crash? Time will tell.

 
Tyler Durden's picture

9 Of The Biggest Myths People Believe About 'The System'





In The West today we see mass delusion everywhere. People seem to believe their governments are almighty beings capable of performing magic - water into wine, debt into wealth. Here are some of the biggest myths we see in the system today...

 
Sprout Money's picture

Gold Wars: Putin’s Mining Buddies Are Stepping Up The Plate





Wondering where all the Russian gold is coming from? Stop looking and start reading...

 
David Fry's picture

The Long Forgotten Currency Hedge Returns





The weak dollar trend has lasted long enough to become embedded in diversified portfolio models used by financial advisors as many have accepted typical non-dollar ETFs as a common investment inclusion for most diversified portfolios.

But things are changing.

 
Tyler Durden's picture

The Real Reason For America's Collapsing Labor Force





"You might think legions of retiring Baby Boomers are to blame, or perhaps the swelling ranks of laid-off workers who’ve grown discouraged about their re-employment prospects. While both of those groups doubtless are important (though just how important is debated by labor economists), our analysis of Bureau of Labor Statistics data suggests another key factor: Teens and young adults aren’t as interested in entering the work force as they used to be, a trend that predates the Great Recession." - Pew

 
Tyler Durden's picture

Axel Merk: Why The Swiss Should Vote "Yes" On The Gold Initiative





With gold already moving today on rumors of an increasingly positive tone towards Switzerland's referendum on the Gold Initiative, Axel Merk notes that it appears widely misunderstood and discusses implications for gold, the Swiss franc and Switzerland as a whole. "Gold is the people’s money, not the government’s money to splurge...gold is a store of value that ought to back the currency in circulation." Ultimately, people should never rely on their government to pursue a gold standard, but consider pursuing their own, personal gold standard.

 
Tyler Durden's picture

5 Things To Ponder: Market Stew





The markets have been pushing new all-time highs this past week as earnings season begins to wind down. Starting next week, much of the focus will shift back to the economy and holiday retail sales. Expectations are for a robust season but the early arrival of winter could have a more negative effect on the economy than anticipated should current weather patterns persist.

 
Tyler Durden's picture

Stephen Roach Warns The Fed's Fixation With Markets Is "A Potentially Deadly Trap"





The Fed remains fixated on financial-market feedback – and thus ensnared in a potentially deadly trap. Fearful of market disruptions, the Fed has embraced a slow-motion exit from QE. By splitting hairs over the meaning of the words “considerable time” in describing the expected timeline for policy normalization, Fed Chair Janet Yellen is falling into the same trap. Such a fruitless debate borrows a page from the Bernanke-Greenspan incremental normalization script of 2004-2006. Sadly, we know all too well how that story ended.

 
Tyler Durden's picture

'Gold Wars’ - Swiss Gold Shenanigans Intensify Prior To November 30 Vote





‘Gold wars’ are intensifying with just 16 days left to polling day in the Swiss Gold Initiative.  If the Swiss vote to revert to having 20% of currency reserves in gold, the Swiss National Bank will be forced to make huge purchases of gold bullion. Switzerland  and its ‘Gold Initiative’ would contribute to driving the price of gold higher - likely in the short term and contributing to higher prices in the long term. Understanding the important recent past and what has led to the forthcoming Swiss Gold Initiative is important and why we look at it today. This context is all important and is essential reading for all who wish to understand the key issues in the debate, for all who invest in and own gold internationally and for all Swiss people.

 
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