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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Professor Fate's picture

So is this a Gloria Allred moment?  Can anyone losing in a short position now sue Bernank & Co. for price manipulation and recover their losses?  Where do I sign up?

Fate the Magnificent

"Push the Button, Max"  

Sandy15's picture

I agree with you.....  Before the FED manipulation I was making on the long and short side, 100K per year.  In the last 4 years I've lost 300K.  Technicals did not work because the FED has insider information.

MrBoompi's picture

Can you sue the Fed for being on the short end of their manipulations?  LMFAO

Don't you know they do what they do to maximize employment and give us price stability?  \sarc off 

resurger's picture

No shit!!!!!!!!!!!!!!!!!! The ZH Conspirasist are right ...

Where is MDB?

tony bonn's picture

anyone who does not believe in conspiracies is a fucktard....

as alan blinder, former fed vice chairman told americans on network telecast - i believe in the 90s - the last duty of a central bankster is to tell truth....

riphowardkatz's picture

they really do not need conspiracies. they just announced 85 billion a month of purchases in the open making it loud and clear. Greenspan has been saying this same thing for years. They openly admit that banks cannot go under. They have no problem taking money from old people who worked hard and giving it to people who created the problems (gov and banks)


razorthin's picture

Really.  Well then, there's no excuse for not drawing the the ropes.

IamtheREALmario's picture

So, in other words, through illegal manipulation of the market, the Fed has defrauded the people on the short side? If the Fed was not immune to crimnal prosecution and if the Obama administration actually prosecuted fraud then it could have gotten interesting. Alas there won't even be a civil suit.

Hedgetard55's picture

Ben Shalom will skate away from this in this life, but not the next. He is no better than a common thief or mugger. A year in Hell for every dollar he printed sounds fair.

Bicycle Repairman's picture

You have to go where the FED helicopters drops the $$$$ or you don't get any.

That's what it is when the FED has "fixed" all the markets.  It isn't 2008 any more.

Turin Turambar's picture

"At Least They Are Finally Honest"


No, they are still dishonest.  They only admitted that they have been lying to everyone for years.  That's not what I call honesty.

riphowardkatz's picture

what they are doing in the open without any hiding is more scarey than any consirpacy theory could come up with

Radical Marijuana's picture

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

Welcome to the Bizarro Mirror World!

When one goes THROUGH the looking glass of the Bizarro Mirror World, one realizes that ALL of human history has been simply a series of conspiracies on a grand scale.

"Conspiracy theories" are actually the best explanations, because lies backed by violence were the realities. Governments were always the best organized gangs of criminals, i.e., those groups who were best at warfare, i.e., best at backing up deceits with destruction. Governments were always taken over and directed by the best organized covert gangs of criminals, through bribery, intimidation and assassination.


Human societies are energy systems which necessarily manifest the principles and methods of organized crime.

Political science "should" apply unitary mechanisms, namely, that ALL social behaviour is dominated, and therefore, directed by the principles and methods of organized crime. Warfare was simply organized crime on a larger scale. War made states. Then states were taken over by the best organized covert criminal gangs. Therefore, the long history of militarism made War Kings, which were taken over in more recent history by the Fraud Kings.

Central banks are the Fraud Kings, with the King of Kings of Fraud currently being the Bank of International Settlements. The international banksters are the biggest gangsters. They were able to retake control over the USA, through a campaign that began after the revolution, and which was able to gain more and more power, despite some earlier periods of reversals.

Americans are facing the consequences of what happens after the checks and balances which were supposed to maintain a better dynamic equilibrium of use of the powers of governments break down, and end up being used by a runaway triumph of the Fraud Kings controlling everything, through legalized lies, backed by legalized violence.

Any "solutions" that are not based on the realities of the dynamic equilibria of the principles and methods of organized crime in action are simply more bullshit, serving ulterior purposes.

The deeper facts regarding "conspiracy theories" are that human societies are ALWAYS organized systems of lies, operating organized robberies. The biggest human institutions are ALWAYS operated by the then best organized gangs of criminals, applying the principles and methods of organized crime. There are no genuine solutions other than better organized crime.

Better government MUST be better organized crime, because government IS necessarily organized crime. Americans have become too brainwashed by bullshit to be able to understand that, which enables the current runaway reality of the local and global Fraud Kings, the central banks, and the corporations that grew up around those banks, to act with more alacrity, as they destroy the dynamic equilibria that America used to partially enjoy.

Attacking the current crop of the best organized gangs of criminals, who have covertly taken control of the government, is not worthwhile without a better organized crime system to take its place. It is not who they are, but what they do that matters. Any "solutions" which continue to be based on false fundamental dichotomies, and impossible ideals, must continue to actually cause the opposite to happen in the real world!

As the established systems of runaway triumphant frauds drive themselves mad, due to too much success at controlling civilization with legalized lies, we "should" develop a more genuinely scientific understanding of political economy and human ecology. However, that requires that we use unitary mechanisms to understand what has actually happened, and therefore, what actually "should" be done about that situation!

Paradoxically, some fringe conspiracy theories need to systematically become the mainstream understanding. The paradigm shifts we "should" go through in politics are nothing less than like no longer believing that the Earth is the center of the universe, or that fire is an element, and so on and so forth ...

Various tiny tipping points, like in this article, where we see fringe conspiracy theories, from not long ago, suddenly be admitted as mainstream observations, "should" be systematized! We "ought" to begin with the concepts of subtraction and robbery, and then attempt to negotiate better dynamic equilibria of those upon the basis of that understanding. Since government necessarily IS organized crime, covertly controlled by the best organized criminal gangs, we "should" be approaching the problems being driven by the Federal Reserve Board on the basis of that understanding.

Of course, what we "should" do is currently in a head-on collision with the history that selected the current Fraud Kings to be those who were the best at lying about what they were really doing. Our society is dominated by the best professional liars and immaculate hypocrites, and they tend to be opposed by a controlled opposition that promotes similar bullshit as the "solutions" to that! However, as too much triumphant fraud reaches the turning points, where it tips into collapse and chaos, there may be a brief opportunity for more radical truth to emerge?

metastar's picture

You are a Tyler! Kudos to you.

Radical Marijuana's picture

Thanks for the high praise, metastar!


Zola's picture

If there is ever a CLASS ACTION LAWSUIT against the MTFERS and CROOKS, count me IN

Paracelsus's picture

 Gun shops here in Sth.Cali doing roaring trade (ammo too).

Seems as if people don't trust their elected representatives anymore.... Hmmmm..... 

markitect's picture

Screw guns, I'm going to use a knife. More personal that way.

Kirk2NCC1701's picture

Does this mean that Paul Krugman lost too much 'street cred', and got RIF'd as the PR guy for the Fed's "alleged manipulations"? 

Paul, you need a new gig.  You know... how Saul became Paul on his road to Damascus?  Reposition and rebrand: Come on over to the enlightened side of the Force.  Oh, wait, Mr. Spock tells me that "The Force" is not our shtick, and that you should speak with George Lucas about a possible role.  We can still co-author that book for the next Nobel Prize, that I alluded to in my earlier posting.   As soon as I recover from my visit to planet 'B4alphaQRU/18QtPi' in the Alpha Canis constellation.  Kirk out.

Pairadimes's picture

Just to be clear, 'monkey-hammered' is not spelled 'a-r-t-i-f-i-c-i-a-l-l-y s-u-s-t-a-i-n-e-d'.

Dewey Cheatum Howe's picture

I think Dick is trying to avoid dangling from a noose by putting some truthiness out there now before the shtf.

ncdirtdigger's picture

Can I take out an insurance policy on this guy?

Village Smithy's picture

At least we know now that Kevin Henry was not acting alone. I was concerned that the kid may have been acting out of compassion for his fellow citizens and illegally manipulating markets. I feared that he may have been setting himself up for some very harsh consequences. <SARC>

TrustWho's picture

“When it becomes serious, you have to lie.”
? Jean-Claude Juncker

The truth of all governments whether purported democracy, communist, fascist, autocratic, theological... allows the powerful to rape the powerless.  

falak pema's picture

they, the Cbs,  have artificially sustained markets to fight the greater evil of perverse oligarchy capitalism bringing down the system. They have fought fire with fire, until St George can kill the dragon of oligarchy JPM/SQUID market.

To do that the state must print world wide and ensure the oligarchy is beaten at its own game and then, only then, turn the tables on the sick HFT market by stifling it until it dies and there is enuff liquidity to avoid the 1931-1934 crisis.

Then the states of the world will have killed the hundred headed hydra of the financialised private beast of shadow banked rewanked derivatives. Flushed out the caboodle from Cayman alligator land.

My eloquence matches that of MDB, I am convinced of it. Krugman as St George's  Sancho PAnza and BEN of Bernanke as Don Quixote by St George of Ponzi God. 


legorf's picture

Anyone else able to locate a credible source with what Dick Fisher said? (bloomberg, Reuters or any MSM with the remark in it?)

Did anyone tried to google this? Nowhere to be found on the web, except from sites linking to ZH.

Village Smithy's picture

Apparently he will be speaking tonight in Dallas. Perhaps Tyler got a leaked version of his remarks. If I were Richard Fisher that's what I'd do. Leak it to a "fringe blog" "tin foil hat wearing" type of news outlet where it wouldn't get too much attention at first, but the seed would be firmly planted. BTW those adjectives were meant as compliments.

Dewey Cheatum Howe's picture

I think the sane people here wear that label with a badge of honor. There are some genuinely nuts people here but that is true of every board that allows for a peanut gallery.

Dewey Cheatum Howe's picture

Yeah it would be nice if the Tyler(s) would post the source of said comments. That would be the difference between this being journalistic or a propaganda piece.

bart.naf's picture

Where's the link to Fisher's speech?