At Least They Are Finally Honest

Tyler Durden's picture




 

From remarks by the Dick Fisher of the Dallas Fed:

  • The Fed has artificially sustained markets

Thank you for the admission, oh FOMC member. And to think just 4 years ago anyone accusing the Fed of using its "invisible hand" and doing everything in its power to solely focus on the stock market was labeled a "conspiracy theory" crackpot. One wonders what other "conspiracy theories" will be admitted by the Fed as fact in another four short years?

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Thu, 02/21/2013 - 16:00 | 3264432 fonzannoon
fonzannoon's picture

Hey Dick, did you take delivery of your GLD yet?

Thu, 02/21/2013 - 16:04 | 3264469 New England Patriot
New England Patriot's picture

You can admit anything after the fact, because the next time the same people will just fall for it again.

Thu, 02/21/2013 - 16:11 | 3264514 Kitler
Kitler's picture

From remarks by the Dick Fisher of the Dallas Fed:

  • The Fed has artificially sustained markets

I won't believe it until I hear it from Bernankes' lips. Someone in the MSM should ask him.

Thu, 02/21/2013 - 16:12 | 3264528 Divided States ...
Divided States of America's picture

Yeah its going on as I type this message. Dow ramped up 60 points in a heartbeat

Thu, 02/21/2013 - 16:31 | 3264635 Xibalba
Xibalba's picture

The Fed has, will, and will continue to....

 

 

and YOU, dear US Citizen, are gonna pay for it!  Or else! 

Thu, 02/21/2013 - 17:15 | 3264786 TruthInSunshine
TruthInSunshine's picture

What??!! Stock and equity market prices are not efficiently priced due to the Federal Reserve violating the most basic of its statutory authority!

How much overpricing of stock and equity markets has the Fed violating its statutory authority led to, and what happens when Fed Reserve officials and staff members are called before the Senate to testify as to why they're illegally tampering with equity (and other markets)?

Will the Congress revoke the Federal Reserve's charter?

What is the level of distortion in other economic and financial markets due to the Federal Reserve violating the most basic of its statutory authority?

What will happen now that the Federal Reserve will, at a minimum, be forced to cease & desist from violating its charter? Will equity markets and stock prices crash? What about bonds and credit instruments?  What about other markets and instruments?

How has this illegal Federal Reserve action affected all other global markets?

Are we now amidst a massive, artificially propped up, sea of asset bubbles, that are prone to crash, now that the Federal Reserve will have to cease & desist from inflating them via methods that violate the plain intent and language of U.S. statute?

WHAT IS GOING TO HAPPEN? HAS CONGRESS YET SUBPOENAED FEDERAL RESERVE OFFICIALS & DOCUMENTS IN RESPONSE TO THIS FUNDAMENTAL, SERIOUS VIOLATION OF U.S. STATUTORY LAW?

WHAT ARE CONGRESS, THE DEPARTMENT OF JUSTICE & THE EXECUTIVE BRANCH OF GOVERNMENT GOING TO DO ABOUT THIS BLATANT VIOLATION OF U.S. CODE?

Thu, 02/21/2013 - 17:27 | 3264845 FinalCollapse
FinalCollapse's picture

I can only imagine Eric Holder or Obama replying: "Blow me Baby"

Thu, 02/21/2013 - 18:31 | 3265038 Deo vindice
Deo vindice's picture

One might argue, that when someone is "finally honest" (as per the headline), they never were, and still aren't.

Forced honesty is fundamental dishonesty.

Thu, 02/21/2013 - 16:15 | 3264551 vmromk
vmromk's picture

Unless all those COCKSUCKING CRIMINALS masquerading as central bankers are thrown in prison, NONE of the manipulation in any market will cease.

Thu, 02/21/2013 - 16:43 | 3264682 SMG
SMG's picture

You have to destroy the system, any people thrown in jail will just be replaced by any one of a 1000 eager lackeys.

Thu, 02/21/2013 - 18:01 | 3264955 The Thunder Child
The Thunder Child's picture

How about we hang the top 1000 controllers in the US for treason and crimes against humanity, that would send a clear message to the rest of them.

Thu, 02/21/2013 - 16:29 | 3264626 candyman
candyman's picture

does this admissions set up Bernanke as committing perjury?

Thu, 02/21/2013 - 18:21 | 3265010 nope-1004
nope-1004's picture

He already did, by testifying that the Fed will not monetize.  Of course, that's all they've done.

 

Thu, 02/21/2013 - 16:10 | 3264517 Say What Again
Say What Again's picture

I can just see the cartoon now.  Dick Fisher as Lucy pulling the football away as Charlie (sheeple?) try to kick the ball.

Thu, 02/21/2013 - 16:11 | 3264520 Stoploss
Stoploss's picture

Can i get an AMEN!!

Thu, 02/21/2013 - 16:12 | 3264527 El Viejo
El Viejo's picture

Next time there will be fewer banks to bail out too.  Darwin at work.

Thu, 02/21/2013 - 16:24 | 3264596 WTF_247
WTF_247's picture

Actually you can admit to doing anything you want when it comes to financial markets - there is little to no enforcement of laws to those connected.

The Fed could come out and outright admit to providing insider info to all the primary dealers, admit that those dealers made 2bil on the info and nothing would happen to anyone.  

 

Thu, 02/21/2013 - 21:28 | 3265521 Buck Johnson
Buck Johnson's picture

Yep, people will forget and continue to believe the opposite.  When the fuel is pulled away from this market, the engine will seize up and die.

Thu, 02/21/2013 - 16:15 | 3264540 Number 156
Number 156's picture

Hey Dick, did you take delivery of your GLD yet?

The Bundesbank better hope they have something left of that 300 tons they were promised.

Thu, 02/21/2013 - 16:18 | 3264564 ParkAveFlasher
ParkAveFlasher's picture

Who needs hope when you have Mali.

Thu, 02/21/2013 - 16:25 | 3264605 candyman
candyman's picture

The new Fed uh Bernanke mandate... sustain markets

Thu, 02/21/2013 - 16:00 | 3264438 waterwitch
waterwitch's picture

Fischer the fissure.

Thu, 02/21/2013 - 16:01 | 3264447 fuu
fuu's picture

Take a bow Tyler.

Thu, 02/21/2013 - 16:01 | 3264449 the not so migh...
the not so mighty maximiza's picture

SHTF soon

Thu, 02/21/2013 - 16:07 | 3264496 THX 1178
THX 1178's picture

The confluence of "signs" is pretty amazing isn't it? Pretty immediate. Feels pretty real.

Thu, 02/21/2013 - 16:30 | 3264630 THX 1178
THX 1178's picture

If you look at the world around you obliquely, you can see what is happening.

1950's- Father knows best... a measured and wise and professional man guides his children (sheep) through life. Eisenhower was like our father. An authoritarian military regime protecting us from evil in our neighborhood...

Remember leave it to beaver?

 

NOWADAYS-

Jackass: http://www.youtube.com/watch?v=uPkf6DTG8wQ

Human Wrecking Balls:http://www.youtube.com/watch?v=6P3Ohg8P-kU

 

If you don't see it unraveling, then you ain't paying attention.

Thu, 02/21/2013 - 18:39 | 3265042 Pegasus Muse
Pegasus Muse's picture

Daily Paul:  Firearm manufacturers fire back. With passive resistance.

19 industry leaders have refused to deal with governments that disarm citizens. This continues the trend of division in the greater law enforcement community: those who protect the state and those who protect the people.

From The Blaze: http://www.theblaze.com/stories/2013/02/20/have-any-more-gun...

1. Olympic Arms, Inc

2. La Rue Tactical

3. EFI, LLC – Extreme Firepower

4. York Arms

5. Templar Custom

6. Cheaper Than Dirt

7. Bullwater Enterprises

8. Westfork Armory

9. Smith Enterprise

10. Alex Arms

11. Spike’s Tactical

12. Quality Arms

13. Liberty Suppressors

14. Doublestar Corp

15. American Spirit Arms

16. Trident Armory

17. Head Down Products

18. J&G Sales

19. Magpul (per below)

The statements by some of these firms are encouraging to say the least. They truly deserve our patronage.

Quality Arms Idaho: Will not supply any firearm or product, manufactured by us, or any other company nor will we warranty, repair, alter, or modify any firearm owned by any State, County or Municipality who infringes on the right of its citizens to bear arms under the 2nd amendment.

J&G Sales: Effective immediately, laws that restrict firearms, ammunition, or magazine possession by law abiding citizens will also be applied to state and local law enforcement and government agencies in that jurisdiction. All residents will be treated equally.

Trident Armory: Sunday night, 9pm. As of this moment, all contract bids and offers, as well as any current production contracts for any and all US government agencies and affiliates by Trident Armory are null and void. “We will no longer participate with, or work for a government where the “rights” of the people are able to be adjusted by the whim of the government”.” I will not build guns which can be used to disarm my fellow Americans.”

Take a moment to email your favorite manufacturer or dealer and encourage them to join the ranks of liberty!

This isn't doing anything radical, it's NOT DOING anything to support oppression. Passive resistance=non support.

http://www.dailypaul.com/275463/firearm-manufacturers-fire-back-with-pas...

Fri, 02/22/2013 - 02:52 | 3266240 toys for tits
toys for tits's picture

+1

 

Those are some brave people. I guess we're going to see some justice dept lawsuits, a la S&P.

Thu, 02/21/2013 - 18:29 | 3265034 ZeroAvatar
ZeroAvatar's picture

Implement NEW muppet freedom-grab in 3......2....1..

Thu, 02/21/2013 - 17:27 | 3264843 Wakanda
Wakanda's picture

Internet destroying MSM.   Check

Social fabric in tatters.   Check

Fed admits market manipulations.   Check

Barry faces impeachment.   Check

False flag attempts by tyrants to disarm populace.   Check

Guns and ammo sold out.   Check

The Second American Revolution, like a snowball gathering mass as it rolls down the slope.

Thu, 02/21/2013 - 17:58 | 3264927 earleflorida
earleflorida's picture

http://www.dailycaller.com/2013/02/21/illinois-state-senator-pushes-anti...

Check!

coming to a neighborhood nearest you via mini-bug drones?

hat tip Drudge!

Thu, 02/21/2013 - 18:28 | 3265032 CPL
CPL's picture

fuck Drudge and his sock puppet theatre.

Thu, 02/21/2013 - 22:07 | 3265620 Cathartes Aura
Cathartes Aura's picture

.

The bill, called the Internet Posting Removal Act, is sponsored by Illinois state Sen. Ira Silverstein.

lots of subliminals in that there sentence. . .

Thu, 02/21/2013 - 17:58 | 3264936 earleflorida
earleflorida's picture

<dup....te :(>

Thu, 02/21/2013 - 18:02 | 3264958 Banksters
Banksters's picture

The crooks will have to try and shut the inter tubes down.  Too many people have access to their blatant war and financial crimes.   

Thu, 02/21/2013 - 18:31 | 3265037 Totentänzerlied
Totentänzerlied's picture

Forward, glorious people's communist revolution!

Thu, 02/21/2013 - 16:02 | 3264453 buzzsaw99
buzzsaw99's picture

Helping fleece the sheep since 1913.

Thu, 02/21/2013 - 16:13 | 3264521 Edward Fiatski
Edward Fiatski's picture

Did I miss the 100-year anniversary? I WANT TO CELEBRATE!

Fed's BULLARD before Dick made suspiciously a lot of sense, even mentioning plans on raising the interest rate - first time for FED on my memory post-2008.

Flap your gums, flap! I want the EUR in free-fall!

Thu, 02/21/2013 - 17:06 | 3264751 Kitler
Kitler's picture

December 29th 1913 was the day the act passed.

There were several important days leading up to passage however and I think ZH would be well served to mark and celebrate(?) each one.

http://www.jekyllexperience.com/site/539681/page/887302

On the evening of November 22, 1910, Sen. Aldrich and A.P. Andrews (Assistant Secretary of the Treasury Department), Paul Warburg (a naturalized German representing Baron Alfred Rothschild's Kuhn, Loeb & Co.), Frank Vanderlip (president of the National City Bank of New York), Henry P. Davison (senior partner of J. P. Morgan Company), Charles D. Norton (president of the Morgan-dominated First National Bank of New York), and Benjamin Strong (representing J. P. Morgan), left Hoboken, New Jersey on a train in view of a group of confused reporters, who were wondering why these bankers, representing about one-sixth of the world's wealth, were gathering at this particular place and time and leaving together.

Thu, 02/21/2013 - 18:50 | 3265098 fuu
fuu's picture

Was that the infamous party in the Gold Room?

Thu, 02/21/2013 - 19:17 | 3265127 earleflorida
earleflorida's picture

""The Marriner S. Eccles Federal Reserve Bank Building"  @  33 Liberty Street, N.Y.

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

Yes,... a Mormon, whose church was backed by Kuhn & Loeb [Rothschild subsidiary?/ Warburg/ Schiff?]! 

Why: In the late 19th century the [LDS] Mormon Church was plagued by financial difficulties and felt their demise? Being very close to the Jewish religion they went hat-in-hand to a surprisingly, and fledgling financial institution called, Kuhn & Loeb!         http://en.wikipedia.org/wiki/Kuhn_Loeb%26_Co.   [merged with Lehman brothers in 1977,... yes, the same Lehman?]

Thus, the Mormon's prospered... but there was a pound of flesh to be had sometime in the far away future of a soul Man-Made-Mormon?', called, 'the-flesh-trump-card'... sub-titled, 'Opportunistic Skulduggery'?

FDR brings Marriner Stoddard Eccles along for the ride, whom by the way was quite fond of Keynesian Economics, having broken bread often with Keynes himself!

What happens next is quite predictable if you follow finance and history-- FDR makes Marriner the Chairman of the Federal Reserve Banking System... and the rest is history {(1934-1951)(Ps. Keynes dies in 1946 btw)}!

so, are there any questions on who runs the USSA-FRBs and USSA's State Dept.?  Please forward to Ben Shalom the Bernak... or Alan J [as in Jay homer Simpson, or Judas?] Greenspan!?

JMO

thankyou  Tyler

Thu, 02/21/2013 - 23:15 | 3265805 Edward Fiatski
Edward Fiatski's picture

Nothing new under the Sun.

Everything is under One umbrella. :)

Thu, 02/21/2013 - 19:42 | 3265269 Ident 7777 economy
Ident 7777 economy's picture

Unadulterated, conspiratorial BS

Thu, 02/21/2013 - 23:17 | 3265808 Edward Fiatski
Edward Fiatski's picture

Ah, this was after the opponents were drowned in the intentional sinking of the Olymp... oops I mean the Titanic.

Well, I better prepare!!

DECEMBER 29 it is! SAVING FOR A BOTTLE OF BOLLINGER!

Thu, 02/21/2013 - 16:02 | 3264454 ziggy59
ziggy59's picture

Should send this to Crap, Nothing But Crap, especially Liesman

Thu, 02/21/2013 - 16:02 | 3264456 Clowns on Acid
Clowns on Acid's picture

Cramer says that this is very bullish.....

Thu, 02/21/2013 - 16:17 | 3264560 tickhound
tickhound's picture

Of course he does.  As will MANY OTHERS.

 

"The Fed has artificially sustained markets"

Reads like a victory speech... "The Fed has SUCCESSFULLY sustained markets!!!!"

 

 

Thu, 02/21/2013 - 16:03 | 3264462 FoeHammer
FoeHammer's picture

Conspiracy Fact, bitchez!

Thu, 02/21/2013 - 16:05 | 3264480 Killtruck
Killtruck's picture

Next thing you know, Kerosene WON'T be able to melt steel!

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