• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

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 - 18:00 | 3264950 Esso
Esso's picture

I take it you're referring to Majikal Jet Fuel.

Not only can Majikal Jet Fuel melt steel, it can suck the guts out of gold bars and replace it with tungsten.

So there.

Thu, 02/21/2013 - 16:15 | 3264552 Edward Fiatski
Edward Fiatski's picture

"We never painted the walls in thermite/-mate. I did not have sex with that steel core." PANCAKES, everyone!

Thu, 02/21/2013 - 16:03 | 3264464 davidsmith
davidsmith's picture

The problem is that this is not an accurate statement.  It's knocking down a straw man.  As if there were markets to be sustained, artificially or naturally.  There aren't.  So what we are looking at now is policy which allows the market to function "naturally."  What this means is that the mechanisms used to loot the society so far, are getting to the end of what they can loot.  So now we will use another mechanism to loot: letting the market find its "natural" level. First I shot you, now I will stop you screaming by poisoning you.  Thanks, Mr. Fed!!

Thu, 02/21/2013 - 16:04 | 3264471 Whatta
Whatta's picture

How do they NOT continue sustaining the markets?

They drew us outta money markets, CD's and anything that resembled "safety" with our cash.

We are now in the market with the risk assets and bonds.

Pension funds - state and private - are banking on huge yearly returns to come close to covering their future draws.

If the fed pulls the plug - WE ALL GO BROKE!!!

Yeah, I have some gold, silver, land, farm animals, gardens, guns, chickens and all that shit....but I am more of an exception than the rule of the land. If "they" allow the market to tank we are all FUCT.

Thu, 02/21/2013 - 16:30 | 3264627 robertocarlos
robertocarlos's picture

There would be an adjustment period. If we all have food and shelter now I don't see why we wouldn't have those in the future. 

Thu, 02/21/2013 - 16:55 | 3264725 eclectic syncretist
eclectic syncretist's picture

Do you expect a substantially different outcome if they don't pull the plug now, because if you do you would be mistaken.  In fact, the more debt the Fed prints, the more broke we'll all be.  That's just simple common sense.  Every dollar printed represents a dollar of debt to the Federal Reserve.  As it becomes increasingly obvious to anyone watching that this immoral game the FedGov has set up has limits beyond which the system will collapse, the fed, the banksters, the politicians, and others with a vested interest in the immoral game are trying to figure out how to prevent or stave off the collapse, but they haven't been able to do anything other than loot taxpayers a little further.

The point of no return has been breached by the FedGov and other central banks and governments, and we must bear the weight of the sins of those who came before us and created and sustained the FedGov system, as those who come after us must bear the weight of our sins.  I predict lots of gnashing of teeth in the valley.

Thu, 02/21/2013 - 17:08 | 3264775 Sandy15
Sandy15's picture

That's the plan, so they can have their World Currency........


Thu, 02/21/2013 - 16:08 | 3264472 Conman
Conman's picture

Dickie boy has always been the hawk. too lazy to look up but i think he ight have been the only fomc member to have run a public bank before.


edit* checked and saw he did work at a bank.


some more intersting quotes from dickie.

"The Dallas Fed’s proposal offers an 'about-turn' and a way to mend the flaws in Dodd–Frank.... In a nutshell, we recommend that TBTF financial institutions be restructured into multiple business entities. Only the resulting downsized commercial banking operations—and not shadow banking affiliates or the parent company—would benefit from the safety net of federal deposit insurance and access to the Federal Reserve’s discount window."


Thu, 02/21/2013 - 18:11 | 3264981 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

He is either playing devil's advocate or the shtf banking meltdown part 2 is knocking at the door. This time around they won't be able to keep the mob with their pitchforks, torches and ropes at bay. First time shame on you, second time shame on me.

Thu, 02/21/2013 - 16:04 | 3264476 disabledvet
disabledvet's picture

"bondbolders, banks and property speculators." that's who the Fed IN FACT bailed out. Equity is risk capital...not even the Fed can bail that out. An economic recovery worthy of the name would be nice. Could be worse. I do agree with those (cough, cough The President cough, cough) who are wondering if we/he got his money's worth. If it were me "I'd ask to have my name on all that stuff you're really using the money for."

Thu, 02/21/2013 - 16:05 | 3264477 azzhatter
azzhatter's picture

Jim "asswipe" Cramer - This is a good thing


2 years ago


Jim "asswipe" Cramer - This is preposterous. Conspiracy theory

Thu, 02/21/2013 - 16:05 | 3264478 Cognitive Dissonance
Cognitive Dissonance's picture

"One wonders what other "conspiracy theories" will be admitted by the Fed as fact in another four short years?"

The early are ignored when they are early and hated when they are eventually proven right. This is why it is extremely emotionally difficult to be a contrarian.

Thu, 02/21/2013 - 16:07 | 3264499 New England Patriot
New England Patriot's picture

If you're a contrarian for the emotions, find another gig.


(not you specifically)

Thu, 02/21/2013 - 16:18 | 3264562 a growing concern
a growing concern's picture

Damn, I just ran out of my giveafuck.

Thu, 02/21/2013 - 16:19 | 3264565 Cognitive Dissonance
Cognitive Dissonance's picture


The emotional beatings are just an occupational hazard!

As with all ideologies we only know if we are 'right' for it when we are severely tested. Thus the explanation for so many bandwagon jumpers in the world and why there are so many followers and so few leaders of character and substance. When we are not settled within, when we have not examined ourselves and understand what we are and what we are not, thus able to steel ourselves from the hurricane because we are honest with ourselves, for the most part we are just litter in the wind.

Thu, 02/21/2013 - 16:26 | 3264611 ParkAveFlasher
ParkAveFlasher's picture


Thu, 02/21/2013 - 18:12 | 3264987 max2205
max2205's picture

Would a been nice if he just told us 3 yesrs ago.  Hope he never dies and is tortured for eternity.


Cost a lot of peope fortunes.  Fuck you pig fucker!  

Thu, 02/21/2013 - 17:13 | 3264787 McMolotov
McMolotov's picture

"If you're a contrarian for the emotions, find another gig."

I became a contrarian for the excellent dental plan and free continental breakfast.

Thu, 02/21/2013 - 16:05 | 3264481 El Viejo
El Viejo's picture

3 Musketeers Hot Chocolat:

2/3  coffee cup of hot water

2    heaping spoons of coffee creamer

1/2  3 Musketeers long candy bar

Stir and reheat as necessary

ummm yummm

Thu, 02/21/2013 - 16:05 | 3264483 Investor-1
Investor-1's picture

I have been trading gold for a few years now and it has become ever more clear to me that something was not right. Now there is confirmation about what I and many others already knew.

Thu, 02/21/2013 - 16:06 | 3264485 ziggy59
ziggy59's picture

Hey, Dick. Are you dying and afraid your non earth master, the one you sold your soul to, doesnt have air conditioning? Is this a moment of confession?

Thu, 02/21/2013 - 16:08 | 3264488 Dr. Engali
Dr. Engali's picture

No fucking shit Mr.Dick Fister.... How about sending Tyler a little love for being ahead of the curve?

Thu, 02/21/2013 - 16:14 | 3264545 FoeHammer
FoeHammer's picture

Full Disclose from Fed: We regret not reading ZH. We concurrently regret embodying the egotistical and fascist premises that have long distorted capital markets.


That would be something else, eh?

Thu, 02/21/2013 - 16:07 | 3264500 adr
adr's picture

SO its kind of like if your wife catches you in bed with another woman and exclaims, "You cheated on me!!!!"

She thinks it was just with the woman she caught you with. What she doesn't know is the other 100 or so over the years.


*disclaimer: I've never cheated on my wife. She might walk in and see me writing this post.

Thu, 02/21/2013 - 16:08 | 3264508 Whatta
Whatta's picture

Is it a conspiracy?

They draw us outta money markets and CD's into the risk assets while "they" the government (posing as TBTF) IS the market, seeing all the cards face-up, and knowing what the next move is? All the big market jerks and yanks - SOMEONE is making money. Hedge funds seem to be sub-market returns...so who is making the cash on the big moves either direction?

They can take from us directly - with no raising taxes, no confiscating IRA's, etc? At least untill we are all flat-assed broke.

Thu, 02/21/2013 - 16:09 | 3264512 ebworthen
ebworthen's picture

You mean the FED buying $85 billion a month is artificial support? 

Stop the presses!  I thought it was supposed to help employment?

Anyone at the FED care to explain how buying levered bank Ponzi schemes (MBS's) is supposed to create employment, or in four years will we hear "We thought blowing another bubble in housing with primarily illegal immigrant labor and buying bank securities that makes banks money which never leaves Wall Street was going to help the middle class but we were wrong."

Doubt it.

Thu, 02/21/2013 - 16:10 | 3264518 MrBoompi
MrBoompi's picture

If we're going to be honest now, why not admit the prices in every market are manipulated? 

Thu, 02/21/2013 - 16:13 | 3264531 azzhatter
azzhatter's picture

The Fed is pumping the market to try and pump pension funds. They know when all those funds turn to shit there will be rioting in the streets. Of course they will destroy the economy in the process, fuck all the old people(they won't riot) and screw all the youngsters. Good plan. FUCK YOU Bernanke

Thu, 02/21/2013 - 16:14 | 3264532 Kaiser Sousa
Kaiser Sousa's picture

look at what the dow did in the last hour and a half of trading......

Tyler's revelation was obviously  yet another bullish indicator..............

Thu, 02/21/2013 - 16:14 | 3264543 Temporalist
Temporalist's picture

Why would anyone care about this when it is going to SNOW (again!) in parts of the US?  That is the next worst thing to asteroids!  Snow!!!  Hide your kids, hide your wife!

Thu, 02/21/2013 - 16:14 | 3264544 Quinvarius
Quinvarius's picture
FED: Williams wants Fed to continue bond buys til at least end'13, would not taper buys unless unemploy rate is substantially better (ests at 5.5% in '16). See MNI Main wire.
Thu, 02/21/2013 - 17:38 | 3264879 riphowardkatz
riphowardkatz's picture

and then when everyone is employed as a rice farmer living hand to mouth they will continue it until we regain the prosperity we once enjoyed.

Thu, 02/21/2013 - 16:15 | 3264547 pods
pods's picture

Thank you Captain Obvious.


Thu, 02/21/2013 - 16:15 | 3264553 Atlantis Consigliore
Atlantis Consigliore's picture

wheres my Bamabux, my foodstamps; coke, bamaphone, welfare and cash back tax filing, im going to Dinnyworld  baby cry, cancel that,  circus Cruise Ship  ? screw dat? 

im going to VEGAS,  duck and cover, at the Not OK corralle,   nope:  FRANCE, SEE THE EIFFEL TOWER, ?  French, F___k the french., 

I Know: Im going to Chi town and boogie with Jesse, maybe buy some elk heads, rolexs and fedoras. and sing strangers in the night.

Fraudsters in the Night, What Were the Chances...?  LOL    


Thu, 02/21/2013 - 16:16 | 3264555 The Heart
The Heart's picture

Speaking of honesty, here is a good read.:


Thu, 02/21/2013 - 16:17 | 3264558 alien-IQ
alien-IQ's picture

Call it what it is, don't dance around it:

artificially sustained markets = WELFARE FOR THE RICH.

Thu, 02/21/2013 - 17:09 | 3264779 IamtheREALmario
IamtheREALmario's picture

An escape route for baby boomers who have their life savings in fraudulent equities.

Thu, 02/21/2013 - 16:23 | 3264589 unrulian
unrulian's picture

...it must be a lie...or is it true...or is it a lie....doesn't compute....pfffttt......

Thu, 02/21/2013 - 16:23 | 3264592 Rathmullan
Rathmullan's picture

And when it "artificially" sustains it also "distorts". Have yet to see the fed res paper documenting the drag on the economy related to the misallocation of resources caused by the mispricing of money. Hint: maybe you could start with the housing market. 

Thu, 02/21/2013 - 16:23 | 3264594 Jason T
Jason T's picture

Biderman, after losing his sanity, poor guy, is all giggles on this one.  

Thu, 02/21/2013 - 16:40 | 3264667 Sandy15
Sandy15's picture

Before Biderman came out saying this, I was e-mailing him and Glenn Beck to expose this.  I was watching future contracts way out of the money being purchased...... it didn't MAKE sense.  Biderman came out on TV about a month after my e-mail to him.........

Thu, 02/21/2013 - 16:25 | 3264600 kahunabear
kahunabear's picture

It's a ruse.

Thu, 02/21/2013 - 16:26 | 3264609 Jacque Itch
Jacque Itch's picture


Do you have a link to the video/article from him?  I have about a hundred people to send it to... including Drudge.

Thu, 02/21/2013 - 16:28 | 3264622 NoWayJose
NoWayJose's picture

Fisher is a hawk, and has been against more QE for quite a while.  Only when you get Bernanke, Yellen and Evans to say this will you be able to declare victory.  If (when?) they do, the market will drop, some more banks will fail, interest rates will rise a little, and maybe, just maybe, we can start a real recovery!

Thu, 02/21/2013 - 16:30 | 3264629 DUNTHAT
DUNTHAT's picture

The Stock market is manipulated...

The Bond market is manipulated...

The Gold and Silver markets are manipulated....

The Currency market is manipulated ....

So explain to me why we need the FED??

Thu, 02/21/2013 - 16:35 | 3264649 Sandy15
Sandy15's picture

The FED is the one doing it...... they are the only entity that can print or digitize money to do it without going to jail.....

If I tried to print money to pay my bills, I'd be in jail!

Thu, 02/21/2013 - 16:38 | 3264664 alien-IQ
alien-IQ's picture

To create the illusion that banks are solvent.

Thu, 02/21/2013 - 16:43 | 3264684 DUNTHAT
DUNTHAT's picture

B I N G O !!

Thu, 02/21/2013 - 16:33 | 3264644 Tsar Pointless
Tsar Pointless's picture

An axiom of fascism I learned some years ago:

The truth is revealed once, and only once.

Well, there you are. Applies to this instance, no?

Thu, 02/21/2013 - 17:27 | 3264663 John McCloy
John McCloy's picture

What we all wanna know and is when it is admitted or leaked in a upcoming auto biography in the next decade is:
1) To what extent was the Fed buying SPY and other etfs, equities, currencies?
2) How much do they presently still have on their books as Tyler alluded towards years ago?
3) Who devised this candy land strategy of thinking they could covertly distribute said holdings in the year 2037 after the S&P was 120,000 for supposed "Gains"?

And all the banks made a secret back room deal with the Fed to be complicit and in return for 0% were never permitted to sell stocks again. This has not at all gone according to plan because regardless of what the markets say..the economy is headed downward on the elevator and the populace bereft and agitated.
All alleys arrive at a brick wall. It may not be now nor a decade but the wall does not move.

Inflate,Allow the inevitable deflate or die.

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