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Thursday Humor: The Federal Reserve For Dummies And Other Econ PhDs

Tyler Durden's picture





 

Here's 'Buck' to explain, in plain English, "one of the most complex 'but effective' institutions in the United States - The Federal Reserve System". Whether you view for the pure irony of it - or pass on to an Econ PhD friend, this animated cartoon from the St. Louis Fed (funded by our cliff-invoked taxpayer money we are sure) takes us from inception around one hundred years ago to the present-day and covers the three divisions (Reserve Bank, FOMC, and Board of Governors) and three responsibilities (providing financial services, conducting monetary policy, and supervising banks). It seems 'Buck' had not been informed of the other and varied roles the Fed plays in the world's populations' lives. How long before this is required viewing for all K-12 schools nationwide?

 

 


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Thu, 12/06/2012 - 20:20 | Link to Comment Frastric
Frastric's picture

Coming soon to America Inc...

Thu, 12/06/2012 - 21:07 | Link to Comment SMG
SMG's picture

This video is pure evil.

Please let the people wake up to this fraud and stop it soon.

Thu, 12/06/2012 - 21:10 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

That's Buck.  Buck Ofama.

Thu, 12/06/2012 - 21:29 | Link to Comment USS Bernanke
USS Bernanke's picture

50 Seconds in...

** Pulls Back the Curtains **

"As you can see, there is a lot going on around the Fed"

(Bunch of white people standing around buildings holding paper and using magnifying glasses to look at the ground)

Click to see all of the activity going on!

http://img23.imageshack.us/img23/8639/picture3199.jpg

...

...

On a side note this must go on their resume for transparancey.

-

USS Bernanke

Thu, 12/06/2012 - 22:10 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

The Fed is unsophisticated and not very complex. They are effective only at exchanging their worthless, useless paper for our resources, land and labor. Otherwise known as EVIL. The fucking criminals need to be tarred and feathered, and hung by their balls and set on fire.

Thu, 12/06/2012 - 22:25 | Link to Comment kchrisc
kchrisc's picture

What you describe so well is a racket. The gov and the FedRes are the biggest racket.

Time to add tar and feathers to the gold stash.

 

Thu, 12/06/2012 - 23:05 | Link to Comment economics9698
economics9698's picture

 

Alternate goals of the Fed from one of my power point slides.

 

Alternate unofficial goals of 1910 Jekyll Island meeting

and creation of Fed in 1913

1.Stop the growing influence of small rival banks and

to ensure that control, over the nations financial resources

would remain in the hands of those present at

Jekyll Island,

Senator Nelson Aldrich (business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr.), his personal secretary Arthur Shelton, former Harvard University professor of

economics Dr. A. Piatt Andrew (Assistant Secretary of the United States Treasury), J.P. Morgan & Co. partner Henry P. Davison (senior partner of the J.P Morgan Company),

National City Bank president Frank A. Vanderlip  (president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and

the international investment banking house of Kuhn, Loeb & Company) and Kuhn, Loeb, and Co. partner Paul M. Warburg, Charles D. Norton, president of J.P. Morgan's First

National Bank of New York, Benjamin Strong, head of J.P. Morgan's Bankers Trust Company, and Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the

Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands

2.  Make the money supply more elastic in order to reverse the trend of private capital formation and to recapture the industrial loan market.

3.  Pool the meager reserves of the nation’s banks into one large reserve so that all banks will be motivated to follow the same loan-to-deposit rations.  (Get loaned up to 90%)  This would protect at least some of them from currency drains and bank runs.

?

4.Should this lead to the collapse of the whole banking system (2008 TARP), then shift the losses from the bank owners to the taxpayers.

5.  Convince congress and the public that the Federal Reserve was needed to protect the public.  Create laws to assist in monetary expansion of credit

 

Fri, 12/07/2012 - 11:38 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

Well, like any good organized crime outfit you have to have a front business, no?

Thu, 12/06/2012 - 22:37 | Link to Comment rollercam
rollercam's picture

Some of them look to be pissing on the grass and buildings.

Thu, 12/06/2012 - 23:14 | Link to Comment economics9698
economics9698's picture

It must be nice to print the medium of exchange for the tribe. 

Funny how people are bewildered by this and why the tribe dominates in war, defense, Hollywood, education, politics, everything is the tribe.  Everywhere I look the tribe is telling me I am a idiot racist white man. 

The tribe passes it off as they are educated and smart.  Funny I do not see any Austrian professors anywhere, funny isn’t it?  Like even when the Austrian get the PhDs they never seem to get a job.

Yea it’s real bewildering until you understand THEY OWN THE FUCKING BANK!

 

Fri, 12/07/2012 - 11:36 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

Make me think that it's time to stop needing the banks so much, eh?

Thu, 12/06/2012 - 21:24 | Link to Comment knukles
knukles's picture

I quit after the first 2 minutes when Buck gave an overview of the structure, the component parts and erroneously omitted Goldman and The Morgue.

(half crying half laughing sounds... dogs looking at me with heads cocked)

Thu, 12/06/2012 - 21:59 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

It is imperative that we enslave the children for Ben and his accomplices so that EVIL will prevail on earth for eternity.

Fri, 12/07/2012 - 06:58 | Link to Comment Urban Redneck
Urban Redneck's picture

Dumbing the narrative down conveniently avoids addressing "adult" questions.

However, prior to 2008 GS didn't even have a seat at the table (unlike JPM) which is why their primary mechanism of influence developed through "alumni" networking- which is endemic to the broader marriage of the political and corporate communities, and itself distracts from the inherent corrupt design of largely self-regulating Federal Reserve System and the utter lack of external checks and balances.

Thu, 12/06/2012 - 22:33 | Link to Comment fockewulf190
fockewulf190's picture

THE cure for use in a sleep disorders clinic.

Fri, 12/07/2012 - 02:11 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Federal Government is already incorporated, is it not? Are most municipalities, and public safety agencies as well?

Thu, 12/06/2012 - 20:24 | Link to Comment EscapingProgress
EscapingProgress's picture

I thought the Fed only had one responsibility: steal from the poor, give to the rich.

P.S. You're a dick, Buck.

Thu, 12/06/2012 - 20:38 | Link to Comment FL_Conservative
FL_Conservative's picture

He obviously doesn't know what the BUCK he's talking about.

Thu, 12/06/2012 - 20:46 | Link to Comment TheSilverJournal
TheSilverJournal's picture

It does, which is why, according to the video, "most economists agree that low steady inflation is good." That inflation is exactly what is being stolen from the poor to give to the rich. So, therefore, most economists must also agree that stealing from the poor and giving to the rich is good.

The natural state of an economy is deflation. Prices should be going down as technology improves productivity. Not only has the Fed and the government stolent the benefit of falling prices from society, but they have added the additional burden of rising prices.

Thu, 12/06/2012 - 21:07 | Link to Comment Bunga Bunga
Bunga Bunga's picture

"most economists agree that low steady inflation is good."

This may be true, but only for the fact that there are more Keynesians than Austrians. Inflation is just a dishonest way of taxing people and Keynesians think that is good.

http://www.zerohedge.com/news/2012-09-27/how-crony-capitalism-or-undilut...

 

 

Thu, 12/06/2012 - 21:16 | Link to Comment TheSilverJournal
TheSilverJournal's picture

Exactly. The pay checks of most economists are also signed by the government or members of the banking system so it's hardly surprising that they believe it's a good thing that the rest of society suffers in order to keep their employer in business.

Fri, 12/07/2012 - 11:14 | Link to Comment Opinionated Ass
Opinionated Ass's picture

"Bingo. Pocketing the productivity gains with one hand and pointing with the other hand at stable prices is the evil core of the Fed's game! Now you've figured it out remember: you must never, ever mention it again. Just bury it deep down inside and never bring it up again. You're gonna have to trust me on this." - Your friend, Buck

 

http://www.moviewavs.com/php/sounds/?media=WAVS&type=Movies&movie=Tallad...

Thu, 12/06/2012 - 20:22 | Link to Comment whotookmyalias
whotookmyalias's picture

Oh yeah, we forgot one minor role. Monetizing debt and printing money.

Thu, 12/06/2012 - 20:27 | Link to Comment Bastiat
Bastiat's picture

Suppressing interest rates, blowing bubbles and destroying the value of savings.  Step aside Buck, I am Benjie, Destroyer of Worlds. 

Thu, 12/06/2012 - 21:45 | Link to Comment knukles
knukles's picture

Manipulating gold and stocks

Thu, 12/06/2012 - 21:50 | Link to Comment TheSilverJournal
TheSilverJournal's picture

The greatest trick the devil ever pulled is brainwashing society into rejecting the understanding of the word "malinvestment."

Fri, 12/07/2012 - 00:09 | Link to Comment traderjoe
traderjoe's picture

Acting as a front for fractional reserve banking - the counterfeiting of money by private insititutions. 

Thu, 12/06/2012 - 20:22 | Link to Comment NotApplicable
NotApplicable's picture

Plain English, you say?

FRAUD

How's that?

Thu, 12/06/2012 - 22:02 | Link to Comment TheSilverJournal
TheSilverJournal's picture

counterfeit, theft, ponzi scheme operator, Bernie Madoff on steroids, monopoly, central planner, socialist, resource redistributor, reverse Robin Hood, elitism, corporatism, bankster, tyranny

Fri, 12/07/2012 - 14:11 | Link to Comment Kobe Beef
Kobe Beef's picture

RACKETEERING

Thu, 12/06/2012 - 20:23 | Link to Comment A Lunatic
A Lunatic's picture

Buck, Buck, Bo Buck, Banana Fanna Fo..................

Thu, 12/06/2012 - 22:08 | Link to Comment Elk peanus
Elk peanus's picture

say it, you naughty NAUGHTY bitch! (In Richard Simmon's voice)

Thu, 12/06/2012 - 20:25 | Link to Comment buzzsaw99
buzzsaw99's picture

serve the maggots, impoverish the people

Thu, 12/06/2012 - 20:26 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Buck Naked?

Thu, 12/06/2012 - 20:43 | Link to Comment Mae Kadoodie
Thu, 12/06/2012 - 20:31 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Buck was frozen back in 1987.

 

"Buck drifted through a world in which reality and fantasy merged into a timeless dream"

 

http://www.youtube.com/watch?v=jBFNaHs-zjQ

 

  Buck -  "Greenspan who ?"

  Wilma -      "You know the guy who destroyed most of Human Civilization"

Buck - "never heard of him."

 


Thu, 12/06/2012 - 20:26 | Link to Comment Sardonicus
Sardonicus's picture

Here is some Keynes-Hayek Christmas cheer for you.  http://cafehayek.com/2012/12/the-very-talented-mr-papola.html

Thu, 12/06/2012 - 20:34 | Link to Comment NotApplicable
NotApplicable's picture

That's awesome.

Hopefully Tyler will make it a Friday humor post tomorrow.

Thu, 12/06/2012 - 20:32 | Link to Comment FinalCollapse
FinalCollapse's picture

Sorry, but I couldn't listen to the whole presentation. I puked around 2:30 minute mark.

Thu, 12/06/2012 - 22:13 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

I did the Linda Blair thing after about 12 seconds in

Thu, 12/06/2012 - 20:37 | Link to Comment Insideher Trading
Insideher Trading's picture

Buck fucked.

Thu, 12/06/2012 - 20:42 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bob I read your thread about the $335M notional sell order.  You think that someone had a margin call worth $335M and decided to meet it by selling only gold? 

Think about how rediculous that is.  Wouldn't you want to diversify your sale to keep your investments diversified accordingly? 

And if the margin call was larger than $335M then why would they sell gold now right before it becomes a tier one asset?

It makes no sense Bob Dobalina and neither do you.

Thu, 12/06/2012 - 20:37 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

This infomercial (Buy the Fed!) starts off telling us that the Fed's job is to stop bank runs; bank runs like what happened in the early 20th century.  WHat it doesn't say is John Pierpont Morgan started those bank runs himself when he let loose panic rumors that certain banks (other than his own) were insolvent.

And if anyone who hasn't watched the video yet wants a summery:  Bore-ring

Thu, 12/06/2012 - 20:38 | Link to Comment Rompoculos
Rompoculos's picture

His name is Buck and he's here to fuck.

Thu, 12/06/2012 - 20:45 | Link to Comment jayman21
jayman21's picture

Fuck you Buck.  Fuck you Bernacke.

Thu, 12/06/2012 - 20:48 | Link to Comment ISEEIT
ISEEIT's picture

Bens gone buckwild!

Thu, 12/06/2012 - 20:49 | Link to Comment Al Huxley
Al Huxley's picture

My god, where do you even start to comment on something like this.  So wrong, so wrong...

Thu, 12/06/2012 - 20:54 | Link to Comment Central Bankster
Central Bankster's picture

Well I just threw up a little.

Thu, 12/06/2012 - 20:49 | Link to Comment jayman21
jayman21's picture

New Drinking game.  When Buck tells a lie, drink

Thu, 12/06/2012 - 20:50 | Link to Comment edb5s
edb5s's picture

My favorite part was when Buck made the joke about commercial banks being "financially sound."

Thu, 12/06/2012 - 20:53 | Link to Comment williambanzai7
williambanzai7's picture

Just wait til I get finished with this.

Thu, 12/06/2012 - 22:03 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

Seriously Will, tear into this one hard!

Thu, 12/06/2012 - 20:55 | Link to Comment edifice
edifice's picture

Edward Bernays would be proud.

Thu, 12/06/2012 - 20:56 | Link to Comment Being Free
Being Free's picture

Another scoop Tyler!  Rumor has it Buck is on next weeks FOMC agenda.

Thu, 12/06/2012 - 20:58 | Link to Comment dirtyfiles
dirtyfiles's picture

this gay Buck (what irony a buck)should start with
that meeting at Jeckyll island ..

Thu, 12/06/2012 - 21:00 | Link to Comment tallen
tallen's picture

Buck this shit

Thu, 12/06/2012 - 21:10 | Link to Comment A Lunatic
A Lunatic's picture

Next thing you know there will be an animated Bob Costas navigating us through our second amendment rights.......

Fri, 12/07/2012 - 02:39 | Link to Comment knukles
knukles's picture

Fuck Bob Costas

A dumb ass felonious football thug gets seriously messed up on alcohol and or drugs, is cheating on his wife and commits suicide with a firearm and all of a sudden its a fucking gun problem.

Lemme tall ya' Mr. Costas, if the whole fucking bunch of the NFL players killed themselves by whatever means available it would be net net, an improvement to the human gene pool.

Fuck you, Bob

Seriously.  Show them the way.
Kill yourself with a knife, razor, hanging, poison, jump off a cliff, building, I don't give a fuck.

 

Thu, 12/06/2012 - 21:10 | Link to Comment lynnybee
lynnybee's picture

disgusting, disgraceful, shameful.    this is a deliberate & treasonous economic take down of the United States of America.   how can one old woman win against these people?   

Thu, 12/06/2012 - 22:18 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

Buy the metals.

Thu, 12/06/2012 - 21:10 | Link to Comment dirtyfiles
dirtyfiles's picture

Forbes magazine founder Bertie Charles Forbes wrote several years later:

Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred[s] of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled... Nelson (Aldrich) had confided to Henry, Frank, Paul, and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank, and Henry... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.

it says it all as it is disfunctional today and allowed to be ..

Fri, 12/07/2012 - 00:42 | Link to Comment AlaricBalth
AlaricBalth's picture

Sounds like it would be an excellent Hollywood script. Treachery, intrigue, suspense, psychopathic characters and an ending which is mind bending. Alas, no one in LaLa Land would have the balls to write it and produce it.

"I dreamed i was in a hollywood movie
And that i was the star of the movie
This really blew my mind
The fact that me an overfed long haired leaping nome
Should be the star of a hollywood movie, hmmm
But there i was
I was taken to a place
The hall of the mountain kings
I stood high by the mountain tops..."

https://www.google.com/url?sa=t&source=web&cd=1&ved=0CCwQtwIwAA&url=http...

Fri, 12/07/2012 - 11:21 | Link to Comment Opinionated Ass
Opinionated Ass's picture

Any link to the BCF original article? Thanks!

Thu, 12/06/2012 - 21:13 | Link to Comment Rompoculos
Rompoculos's picture

I prefer this explanation of the workings of the FED

http://www.youtube.com/watch?v=rLDgQg6bq7o

 

Thu, 12/06/2012 - 21:15 | Link to Comment e-man
e-man's picture

After making this video, Buck realized he had a diminished sense of self worth.

Thu, 12/06/2012 - 21:17 | Link to Comment steve from virginia
steve from virginia's picture

 

If the Fed's purpose is to stop bank runs it should have been restructured in 1934.

 

The Fed's real purpose is to lend money to banks like there is no tomorrow (PS ... there IS no tomorrow.)

Thu, 12/06/2012 - 21:16 | Link to Comment Dr. Gonzo
Dr. Gonzo's picture

What the Hell? There wasn't a single mention about a vault full of gold. Just a bunch of buildings and people shuffling papers and talking shit that doesn't mean anything. If I'm going to watch a cartoon about an impressive banking system it better show me pictures of a big vault full of gold with armed guards. Otherwise it's just a boring bean counting film that deals with intrinsically worthless irredeemable currency that the people have only accepted through force and coercion. Big deal. I'm not impressed. Show me a vault full of gold next time!

Fri, 12/07/2012 - 09:05 | Link to Comment GreatUncle
GreatUncle's picture

Lol James Bond - Goldfinger / Fed / Fort Knox

We only ever viewed the alternate ending where goldfinger and his sidekick gets their just deserts for being a lowlife criminal.

The other ending we did not get to see was a vault now empty and James Bond subsequently dispatched by "Oddjob" while goldfinger got all the gold and now rules the world.

Thu, 12/06/2012 - 21:20 | Link to Comment wisefool
wisefool's picture

time mark 11:50.

"one of the most important ways the fed ensures safety in the system is helping banks respond to all types of crisis"

I am not very smart. I honestly admit that. But who was going to roll tanks into the streets in 2008?

Was Hank Paulson saying that he, as leader of the Treasury/IRS, were going to roll the heavy armor on the american people? Was the federal reserve going to roll their tanks on the streets and Hank was just giving us a heads up? Were the executives of the investment banks going to roll tanks on the streets if they did not get their TARP bonus money? Were the academic economists going to roll their  tanks on the streets if we did not preserve (at any cost) the rule of their god Keynes? Was the US Army going to roll tanks in the streets to fight the tanks on the streets from any/all of these people?

One thing I do know is that I am pretty sure it wasn't the chinese or the brits. Ol' Hank said we only had 48 hours to pass TARP. I doubt very much a flotilla could cross either ocean in that time.

Fri, 12/07/2012 - 07:32 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

wisefool, you misunderstood his word was not Tanks but THANKS, lots of THANKS that rotten system fell..never mind.

Thu, 12/06/2012 - 21:29 | Link to Comment Seasmoke
Seasmoke's picture

Just naming this asshole Buck, you know they are laughing in our faces !

Thu, 12/06/2012 - 21:32 | Link to Comment Squid Vicious
Squid Vicious's picture

they should have added a cartoon of Jefferson, Madison and Jackson spinning in their graves at 16 Trillion rpm's

Thu, 12/06/2012 - 21:48 | Link to Comment Uinta
Uinta's picture

Buck,

I missed the part about buying MBS and backstopping the ECB. Could you go over again.

Thu, 12/06/2012 - 22:17 | Link to Comment wisefool
wisefool's picture

They asked Ben if he knew who got those measly trillions that went overseas. He said he didn't know but he would find out. Later, they asked the Inspector General of the Fed if she knew where those trillions went overseas. She said, thats not really my job. But she would find out.

Dont you see? complex and effective!

But we should not just pick on the econ profession. I want to see Newt Gingrich with his million dollar salary of History PhD goodness put out one of these videos for the masses explaining the GSEs. (Fannie, Freddie, Salle)

Thu, 12/06/2012 - 22:17 | Link to Comment DavosSherman
DavosSherman's picture

Buck's last name? Counterfiet.

Thu, 12/06/2012 - 23:09 | Link to Comment Mike2756
Mike2756's picture

The hole of the Fed?

Thu, 12/06/2012 - 23:30 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

That was one of the most nauseating pile of tripe I has the misfortune to sit through. I feel l need a shower to hose off the slickly sweet goo. I mean how old was that presentation? There was a frigging tape drive drawn on the " computer". Well that deserves a glass of my favorite wine and zh has once again sent me down the path of alcohol consumption. Really, does the fed honestly think the majority of US citizens need this dumbed downed pile of horseshit so we can sleep soundly in our beds? Oh god please don't answer that.

Miffed:-)

Thu, 12/06/2012 - 23:33 | Link to Comment Kastorsky
Kastorsky's picture

they spent like $12 making this shit

Thu, 12/06/2012 - 23:39 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Buck aint worth a penny.

Fri, 12/07/2012 - 00:01 | Link to Comment ebworthen
ebworthen's picture

How soon before they have Federal Reserve blankets?

More propaganda from the FED and the Treasury to follow, with tests that must be passed after watching the videos to qualify for student loans.

Fri, 12/07/2012 - 00:18 | Link to Comment fishwharf
fishwharf's picture

Unintentional humor is always the funniest.

Fri, 12/07/2012 - 01:17 | Link to Comment nah
nah's picture

if its so great cuz their not accountable

.

how does the buck stop here

Fri, 12/07/2012 - 02:37 | Link to Comment Floodmaster
Floodmaster's picture

.

Fri, 12/07/2012 - 02:36 | Link to Comment lasvegaspersona
lasvegaspersona's picture

the Fed SELLS government bonds? wow...did not know that...

Fri, 12/07/2012 - 04:25 | Link to Comment Just Ice
Just Ice's picture

Yo Buck!  An institution granted the privilege of issuance of the U.S. currency surely has the responsibility of maintaining its purchasing power so as not to erode the value of labor and savings of the people, does it not?  So what's this "low and steady" inflation B.S.?  Buck?  Buck??!!  Buck and the lollypop propaganda PR there just more B.S. as suspected. 

Fri, 12/07/2012 - 07:01 | Link to Comment Disenchanted
Disenchanted's picture

 

 

Buckwild bitchez!

 

(honey boo boo done growed up and she don't give a shit about no Fed)

 

This is our society on fractional reserve clown 'bucks'...reaping what we've sown.

 

Good luck...

Fri, 12/07/2012 - 07:38 | Link to Comment smart girl
smart girl's picture

Our Rep is S.F. is a great guy. He tells the truth. http://www.frbsf.org/news/speeches/2012/john-williams-1114.html?utm_sour...

Fri, 12/07/2012 - 09:01 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

smart girl your bankster's shit does not stink, his first job is to lie and you fell for it.

Fri, 12/07/2012 - 17:02 | Link to Comment bgbarrelridr
bgbarrelridr's picture

Don't forget the <sarc> tag

Fri, 12/07/2012 - 08:03 | Link to Comment myptofvu
myptofvu's picture

Today we have reports to inform us of confidence levels in the economy (consumer sentiment, consumer confidence) as the video points out that before the Fed we had bank runs. I wonder which method is a more reliable measure of consumer confidence?

Fri, 12/07/2012 - 08:48 | Link to Comment Downtoolong
Downtoolong's picture

It seems 'Buck' had not been informed of the other and varied roles the Fed plays in the world's populations' lives. How long before this is required viewing for all K-12 schools nationwide?

It's what they don't tell you that hurts you the most, and makes Wall Street rich.

Maybe they just figured even Kindergarteners are smart enough to figure that out.

 

 

Fri, 12/07/2012 - 08:59 | Link to Comment GreatUncle
GreatUncle's picture

The irony of it all ...

100 years of politicians and in exactly the same position as a century ago. All those bucks spent over 100 years to end up in exactly the same position.

Then a question ... what was it all for? The reason?

Politicians will sell you the line to protect the poor people etc.!

The real reason more likely is those of worth need a banking system to keep what they have. Goes bust you are penniless just like a poor person.

Fri, 12/07/2012 - 14:07 | Link to Comment Qualitative Tig...
Qualitative Tightening's picture

At 9:33 into the video:

 

"Your going to have to trust me on this one"

 

Of course. Never thought about questioning the fed. Ever.

Do NOT follow this link or you will be banned from the site!