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Controlled Leaking
I got a laugh at this article by Jon Hilsenrath at the Wall Street Journal. (Link)
This is another in a string of articles by Jon where Bernanke is clearly providing a portion of the content. The thrust of this one is that the Fed is going to change its communication policy in the upcoming Fed meeting. From the article:
Federal Reserve officials are close to completing an overhaul of how they signal their policy plans to the public.
The Fed has said publicly that they are monitoring the blogs in an effort to get a handle on what is being said about them outside of the MSM. I assume they will be reading this. I hope those “readers” pass this note along to Bernanke. Possibly it will help the Fed heads steer their new communications policy to a better place.
My suggestion to the Fed is that they stop leaking what they are going to do at the next meeting to the WSJ. This is the worst form of communication policy. In my opinion it makes the Fed look stupid. It makes the Journal look like a beard.
When Hilsenrath quotes ,”Unnamed sources close to the matter” and the next words are clearly coming from the Chairman, there are thousands of readers who look at it and say , “Plant”.
Policy steps by the Fed have been consistently telegraphed in advance for the past three years. In Japan this is called, “Official Guidance”. Very few people (outside of finance) understand that the Fed is giving official guidance through the press. The Fed should end this. If they have something to say, they should come out with a formal statement that people can actually pick apart.
The change in the communication strategy is going to happen pretty quickly. Sometime in January at the latest. The openness, clarity, honesty and integrity of the new policies will be put to the test not long after. It is a 50-50 shot that the Fed will announce a new LSAP sometime in the first quarter. If that were to happen we will get wind of it through press leaks in February. That would be the way it would unfold absent real changes in the way the Fed disseminates information.
So we shall see by March. If we get a leak of what’s coming from the Fed in the New Year, then we will know that the new policy of “open communication” is just for show. That would be my guess on the outcome. Bernanke’s Fed may profess to have adopted a new standard, but they’ll keep up the whispers on the side. They will do anything they can to achieve their objectives, including any manipulation that might be desired.
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Controlled leaking is when one shakes one's penis at the urinal before tucking it back in one's undergarments. It that also fiscal policy?
The Bernank has pissed on all global markets, breaking them, rendering them dead and urine soaked, and he is telling everyone that it's raining.
I thought that "rain" smelled bad.
The Bernank saturated the broken global economy with unprecedented liquidity, and he has the indecency to communicate this grave monetary policy error and mischaracterization of his AIM and his TARGET via Hilsenrath at the WSJ.
On top of this, The Bernank claims he's mainly concerned with the United States, when he's clearly broadened his stream for purposes European.
And in the mean time, Bernanke will pray for war, er...I mean rain.
"abandoned the free market system'. Wonder if these pricks will ever say they re established it.
Why isn't there a probe into pseudo official leaking?
Hasn't the telegraphing of future policy positions just allowed the big banks, pimco, and a handful of speculators to dine out on the taxman tab?
If telegraphing a position increases the cost of the transaction, surely someone should be accountable...
I know.. I'm a dreamer.
The fed should make announcements through childrens tellevision
Oh, that's right, they have CNBC
Yes, the Fed should polish its turds in a more transparent manner.
So...the Fed is leaking that they won't be leaking?
Gold is money, Ben. Lets see your ass print some gold.
HP makes gold filled printing cartridges,,,? ;) Who knew...
Gold plated tungsten
Gold plated Turdsten...
aka happy horeshit
Certainly would be a new spin on "shitting a brick."
My suggestion to the Fed is that they stop leaking what they are going to do at the next meeting to the WSJ.
****************
My suggestion is-dissolve yourselves and get out of the way Fed-
Mr Market is going to clean your clock-
Ohhhh and btw Ben-
Gold "is" money-
The Fed (and govt) has zero credibility left. Sorry, but that crap Paulson pulled with the hedge fund managers is total crap! the 70 TRILLION the Fed doled out was absolute nonsense. NOW they're going to be open and honest??!! Right - that will happen...until the next crisis when they have to lie because it is the only way. The FED has not one ounce of legitimacy left to those who have been reading and learning what has been going on.
Yo, Bernak! If you're reaading this: Wake up and smell yourself - ZH readers have your number and we know your "open communication" nonsense is crap. Actions speak far louder than words... Now go back to your printing presses and do what you do best!! I hope a loaf of bread will not cost $1,200 in a few years, but i'm not counting on it...
I stopped to get some shipping supplies at a small mail store in a strip mall today. Parked next to a pickup that had "End the Fed" all over the back windows. Went in and it's me and 4 other people, 2 of them worked there. The guys that worked there were having a "what the fuck has gone wrong with our government" conversation. When I bought my stuff I asked who' truck it was and it belonged to another customer. So 5 people and at least 4 had some kinda clue. I was slightly amazed and then quite happy.
*edit - whaddaya read into that Bernanke?
That's great!!
Hey, now that we know the FED is reading maybe Tyler could do a "dear FED" weekend post where ZH readers can share a few thoughts with the Bernank & Co?
I'm totally down with that. Do you work for the Fed?
"Controlled Leaking" --- isn't that what colostomy bags are for?
Depends
watch for diaper rash...
Dammit, you made me laugh so hard ....
http://video.google.com/videoplay?docid=-5742933797940084418
Yes, they should show their intentions in a public forum.
Yet, they seem to communicate to all of the Major Banks what their intention is before they communicate that to the Public. So, the Banks can front run the Fed actions. Leaving all of the Retail Investors in the Dark and maybe on the wrong side of the Trade.
The Fed tipped all of the Banks off with FRE, FNM so they could sell their positions and short the stocks. Receintly tipped off the Banks about the Debt Swaps so they could run over anyone on the wrong side of the trade. I happenend to be on the right side but it is wrong that the Banks get information before everyone else.
Fed leaks to family and friends. They are only doing what everyone else does. I think they should be killed for this behavior but they can justify it by "who else in the world would hire my kids or wifes brother:.
The feds works for the families that own it and eveyone else is just their bitch.
Sweet nothings.
We need to prmote stronger religion, it's the only tool to control and manipulate the people this days.
Fed needs to get some advises from Pope. And than we can leak info trough the secret bible codes.
Another subject matter that I am in agreement with George C. http://www.youtube.com/watch?v=gPOfurmrjxo
you can label anything and call it a "religion" and "holy" to get away with anything, even start a global dictatorship! homammad is way ahead of that idea.
http://expose2.wordpress.com
i want to worship donald trump's hair but everyone says it's fake.
most of what people are taught from organized religions is fake, so don't let that stop you.
thank you. i needed to hear that.
"A tyrant must put on the appearance of uncommon devotion to religion. Subjects are less apprehensive of illegal treatment from a ruler whom they consider god-fearing and pious." --Aristotle
Fake or Tasteless??
Wax fruit looks good; but like American society it is utterly tasteless
Fake Titties look good: but... oh shit, who cares about taste...I'm goin down for some clam!