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Ben Bernanke To Miss Jackson Hole Symposium Due To "Scheduling Conflict"
The Fed's Jackson Hole, Wyoming symposium is one of the most sacred of annual Fed meetings: it is here that the Fed has historically hinted at any and all upcoming episodes of major monetary experimentation. As such, presence by the high priests of global monetarism is not only compulsory, it is a circular stamp of approval of the Fed's ongoing status quo-preservation capabilities. Which is why the fact that the man at the top himself, Ben Bernanke, whose term is due to expire just five months after this year's Jackson Hole gathering, will be absent "due to a scheduling conflict", is set to spark a fire of questions, first and foremost of which: is this the sign Bernanke is handing over the suitcase with the printer launch codes to some yet unspecified, second in command? Or, even worse for those addicted to monetary heroin, will Bernanke simply try to put as much distance as possible between himself and the place where (and when) the Fed announces the grand "open-ended" QE experiment is set to begin tapering?
From Reuters:
Federal Reserve Chairman Ben Bernanke will miss the annual Jackson Hole monetary policy symposium this year due to a scheduling conflict, skipping the prestigious event for the first time since taking the helm of the central bank in 2006.
The conference, held in late August in the splendor of the Grand Teton National Park in Wyoming, draws top central bankers from around the world. Bernanke's absence would mark the first time in 25 years that a Fed chairman has not attended.
A Fed spokeswoman, responding to a Reuters enquiry, said the chairman was currently not planning to attend because of a personal scheduling conflict.
Bernanke, and former Fed chair Alan Greenspan, whom he succeeded in 2006, have periodically used the setting to preview important U.S. central bank actions. For instance, Bernanke hinted at the impending launch of a third round of massive bond purchases by the Fed - dubbed QE3 - at the conference last August.
In 2008, the conference effectively became the site of an economic war room as top policymakers huddled to figure out how to tamp down a virulent financial crisis as investment bank Lehman Brothers hurtled toward collapse.
This year's meeting would have been viewed as an excellent opportunity for Bernanke to signal that the central bank might be leaning toward tapering bond purchases, if the economy continues to recover as officials hope.
An unmovable personal conflict four months in advance, to avoid beautiful sights such as this?
Or the perpetually glass case-enshrined bear?
Somehow we doubt it.
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Since The Bernank said yesterday (again) there is no inflation, I am expecting no change in the QE of more of it in ne way or another. Can you imagine what the NYSE would do if they stopped?
He's going to be prepping for his job announcement at Goldman.
"Ben Bernanke Misses "Hole", Mrs Bernanke Laments End of QE"
Jackson Hole responds.
Bernanke, we hardly knew ye. Ye will not be missed.
If Bernank is not there, someone else is going to have to announce that " the Fed has many tools at their disposal", Namely:
1. Printing Ludicrous amounts of Counterfeit FRNs.
2. ?
3. ?
4. Declare War on Iran.
(Incidentally, #4 will require the use of the US Military and Intelligence agencies, all funded by taxpayer $$)
2. Lie about inflation and jobs.
3. Lie about bank assets and methods of accounting.
FIFY
Definitely a disturbance in the force over the last several weeks. My best guess is a Lehman type event. Somebody or country is going under!
"A Fed spokeswoman, responding to a Reuters enquiry, said the chairman was currently not planning to attend because of a personal scheduling conflict."
There hasn't been a personal scheduling conflict in 25 years. There isn't one now. The scheduling conflict is as phony as a 3 dollar bill.
Time to change that expression ............. as phony as a 10 dollar bill.
As phony as a 500 dollar bill -- just a minute.
Modern political correctness, revisionist history and word morphing aside, the expression was "Queer as a three dollar bill."
Can't make it, the Chairman is getting a "fedicure"...
A bear for breakfast and big tits for scenery, whats not to like...
If they increase QE, USD goes shit. If they stop QE, stock market goes shit. Hard to predict the next movement, ain't it?
Thankfully I put my wealth in real money. Whatever bankster overlords do with their ponzi, my savings are still heavy and still shiny.
Fuck them.
I prostrate myself to, Uncle Sam Inc.
http://www.darkgovernment.com/news/monsanto-now-owns-blackwater-xe/
Nuf' Said
"This year's meeting would have been viewed as an excellent opportunity for Bernanke to signal that the central bank might be leaning toward tapering bond purchases, if the economy continues to recover as officials hope."
Where is the recovery? Gold just tanked and seems to be working on a bear flag, which would mean more tanking. Dr. copper is sick. Economic news keeps getting softer and softer. It might just be embarrassing for Bernanke to show up at this years meeting and have to explain why his policies just aren't working.
"Gold just tanked and seems .... his policies just aren't working".
Sorry moneybots ... perhaps is just me, but cant make that connection. I think he has tried very hard, but not everything is up to him, there are other forces such as market forces at play. On the scheduling, dont be suprised even if it is a scheduling conflict with smt in your eyes not important, but for him very important such as a personal family thing. He is leaving, and wont matter much what he will say anyway, others will do what they decide and he knows it ...hence the scheduling conflict.
No time on Chairsatan schedule:
9AM: BUY MORE BONDS FROM PRIMARY DEALERS
11AM STUDY COMMITTEE REPORT ON WHY BOND BUYING NOT WORKING
12PM LUNCH WITH BOSS BLANKFEIN
1:30PM CALL BROKER BUY MORE SPY
2PM: PAUL KRUGMAN SYMPOSIUM ON SIMULTANEOUSLY PREDICTING OPPOSITE OUTCOMES
4PM: QUITTIN TIME
You forgot use the red phone to kevin henry at 3:30
LOL. WTF. Is he having his ass waxed? Can't make it.
plastic surgery ?
White House Bankster meeting of last week looming large
Bernank is going to become the invisible man over the next months. He has set the Fed up for FAILURE!
Thats the missing link between Obamas meeting before gold crash. We get a new FED president, rather sooner than later.
My guess is that Ben knows he is on his way out and this is a way of saying to TPTB to fuck off.
Agree. He is disgusted with stupid Eurocrat move on Cyprus.
Ben: "those dumb fucks starting a global bank run is not my problem"
You want deflation? I will show you deflation.
In April he announces he will not attend an event in August due to his schedule?
wtf
April, August ... it;s all the same fuckin' month.
They both start with an A..... Wholly coincidental nothing more.
Tyler posted an odd chart that was part of a Fed release not too long ago showing the Dow at 14,000 (1Q13) then Dow at 7,200 (Sept/Oct 2013) and Dow rising to 15,200 (4Q2015).
Tyler? I can't find it. I wrote it down because it was so interesting.
I'd be interested in seeing that myself.
It's just not right. Even I have to attend when all the evil in Hell get together for a chat.
Agree. He is disgusted with stupid Eurocrat move on Cyprus.
Avoidance behavior (of reality) does suggests banker desperation and something bad to come.
Is it just me or does everybody else get the sense the banker cartel is fracturing and bolting the FED lead? Troika goes off script with Cyprus, Japan outprints the FED, Soveriegns bolting to the Asian Dollar Exclusion Zone, and bullion banks acting violently. It all looks very reactionary and uncoordinated.
I read a good piece on the internal battle between the BOJ and the Japanese Ministry of Finance (remember them?) battle that took place 20 years ago. BOJ deliberately tanked the Japanese economy by contracting credit just to take control of the economy away from the MOF. Sound familiar? Now that the Abe government has wrested control back from the BOJ, it is too little, too late. But again, exemplifies central banks losing their grip. (Think the piece was from Antal Fakete).
Obama is friends with fellow Chicagoan Lagarde, architect of upcoming depositor confiscations. Looks to me like Ben has been told to fuck off and go rest in Carbanite.
Can someone link me to when exactly the Fed charter ends?
It doesn't.
"To have succession after February 25, 1927, until
dissolved by Act of Congress or until forfeiture of franchise for violation of law."
They didn't violate the law when printing counterfeit money?
thanks
I kept reading about the hundred year charter and thought there was an actual date where it just ends unless a voted extension.
I would have rather he missed it because of a ruptured brain aneurysm.
Fucker can choke off on his own words.
He's having Krugmans lips surgically removed from his tiny penis.
Bernanke: "Gold is not money".
My theory is that Ben told Prez he didn't want to stay as Chairman for much longer. Prez has meeting with bankers to get their take on whom the next Fed Chairman should be - hence that meeting. Ben won't be Chairman by the time Jackson Hole is up, so the "scheduling conflict."
I understand Bubbles Bernanke had to miss because he's going to pick up a new fleet of helicopters!
He's off to get his bikini waxed. Real bitch to change those appointments, dontchknow.
Is that the date range when the US bombed Japan (August 6-9)?
He is scheduled to attend the Cracked Symposium on Quantitative Quackery
So the sleaze and stupidities continue.
OK folks, you read it here first. The Bernank is going to miss Jackson Hole because it conflicts with the India International Printing and packaging Fair August 6-9..
"More than 150 exhibitors will be participating at India International Printing & Packaging Fair. The qualified buyers will come across CTP software, color management systems, digital workflow, desktop publishing systems, color scanners, digital proofing system, plate making systems including plate setters and offset plates."
Fuck ben
He's headed to the bunker instead.
Poor Ben.
Try as he might; couldn't lose the twitch.
Can't have that twitch.
Fuc^ing twitches!
This is why the banksters were visiting Obarry a week or so ago. Telling him the next Chairsatan to appoint.
The announcement is what concerns me.
What does the announcement achieve that letting everyone believe he will be there and canceling at the last minute doesn't?
Are they trying to spook the markets?
According to Citi Research:
http://www.scribd.com/doc/137144352/G10-Rates-Weekly-Citi-Research
Since we are more directly concerned about the behavior of the US Treasury market than the US dollar, we will dig further into what initially appears to be of no value. In Figure 12 we see that the value of looking at gold versus 10yr Treasury yields is near zero. However, Figure 12 does suggest that gold provides value if we break-up 10yr Treasury yields into Real Yields and Inflation Break-evens. These correlations suggest:
- Higher gold price / higher inflation – This relationship confirms common wisdom about gold using daily changes, even if Figure 11 shows that it is of little value longer term.
- Higher gold price / lower real yields – If TIPS and gold are both considered to be hedges of inflation, it would be expected that their prices would rise and fall with positive correlation. Therefore, higher gold prices and lower TIPS real yields make sense.
Given these correlations, it would be expected that a sharp move in gold would be accompanied by a sharp move in TIPS. The weak 5yr TIPS auction this week put an exclamation point on this move. Over the past week, 10yr TIPS real yields are about 15bp higher and breakevens are about 20bp lower.
Summary
We are generally very hesitant to pay much attention to moves in the gold market. However, when large moves in this market are relatively coincident with large moves in TIPS breakeven levels – it bears watching. We think that this may be a symptom of a Fed that is appearing more likely to begin tapering QE earlier into the recovery than was previously expected – even if the initial Fed Funds hike date remains well in the future. We are positioned in Treasury curve steepeners to take advantage of this view.
What? did Jackson Hole come as a surprise to Benron this year?
duplicate
http://www.albanytribune.com/19042013-bernanke-drives-margin-debt-to-pre-crisis-highs-oped/
Bernanke Drives Margin Debt To Pre-Crisis Highs
By Mike Whitney
April 19, 2013
Investors have boosted their borrowing to near-record levels to load up on stocks. The last time that margin debt was this high was just before the bubble burst in 2007. In January, New York Stock Exchange (NYSE) margin debt tipped $366 billion, just shy of the 2007 peak of $380 billion. The Fed’s zero rates and $85 billion per month bond buying program (QE) have sparked the same irrational exuberance that preceded the Crash of ’08. Investors are piling on the leverage because they feel confident that Fed chairman Ben Bernanke will not allow markets to fall too sharply. (This is called the Bernanke Put) This week’s see-sawing markets suggest that QE’s impact may be wearing off. Deflationary pressures are building in the real economy at home and abroad. As these pressures intensify, stocks will retreat forcing deeply-leveraged investors to exit their positions which will accelerate the pace of decline.
As you can see from the above chart, the rise in stock prices is nearly identical to the rise in margin debt. The Fed’s easing strategies have increased risk appetite while contributing little to the real economy. This phenom runs counter to the Fed’s mandate which is “price stability and full employment.” In truth, the Fed is adding to systemic instability by suppressing rates and forcing investors to take on more risk than they should. Last week, in a speech delivered to the IMF, Federal Reserve vice chair Janet Yellen refuted this charge claiming that Fed policy reduces risky behavior. Here’s a short excerpt from her speech:
“Some have asked whether the extraordinary accommodation being provided in response to the financial crisis may itself tend to generate new financial stability risks. This is a very important question. To put it in context, let’s remember that the Federal Reserve’s policies are intended to promote a return to prudent risk-taking, reflecting a normalization of credit markets that is essential to a healthy economy.
…Obviously, risk-taking can go too far. Low interest rates may induce investors to take on too much leverage and reach too aggressively for yield. I don’t see pervasive evidence of rapid credit growth, a marked buildup in leverage, or significant asset bubbles that would threaten financial stability.”
This is nonsense. There are signs of Fed-generated bubbles everywhere not just in stocks. Take a look at this from Bloomberg’s Lisa Abramowicz on the boom in junk bonds:
“Investors are favoring the riskiest, hardest-to-trade junk bonds by the most in 17 months as confidence mounts that central banks from Japan to the U.S. will prop up debt markets through year-end.
The extra yield investors demand to buy the least-traded bonds with the lowest speculative-grade ratings instead of more liquid securities narrowed to 1.2 percentage points on April 9, the smallest gap since November 2011, according to Barclays Plc (BARC) data. Yields on the smallest and oldest CCC rated notes contracted by 1.9 percentage points this year, three times the drop on yields for more active notes with comparable grades.
Bond buyers seeking to escape the financial repression brought on by near zero interest rates are venturing deeper into the market in search of returns. They are bidding up the debt of companies that would otherwise be the most vulnerable to bankruptcy had the Federal Reserve not injected more than $2.3 trillion into the financial system since 2008.”
Dow Jones Industrial Average Versus NYSE Margin Debt from 1996 to 2013:
http://www.scribd.com/doc/137204683/Dow-Jones-Industrial-Average-Versus-NYSE-Margin-Debt-from-1996-to-2013
who the hell is "miss jackson hole" and does mrs bernanke know about her?
Things have progrssed to the point that no forward looking statement would be safe to make. So he won't.
http://schaefferstradingfloor.com/margin-debt-on-nyse-approaches-record-levels/id=3937
Based upon statistics from the New York Stock Exchange (NYSE), Margin Debt is approaching all-time high levels. In this post, I present the data graphically and help explain what you should know about Margin Debt.
Per the NYSE, member organizations are required to report monthly their aggregate debits (amount borrowed by customers to purchase securities) in margin accounts, as well as aggregate free credits (cash balances) in cash and margin accounts.
The last time we witnessed Margin Debt at these levels was the summer of 2007. Margin Debt peaked out at or near the zenith in equity prices as measured by the Standard & Poors 500 Index.
NYSE Margin Debt Since 2000 - Schaeffer's Trading Floor:
http://www.scribd.com/doc/137210828/NYSE-Margin-Debt-Since-2000-Schaeffer-s-Trading-Floor
Ok, people stop blaming Benny. He does what he gets told to do by his legal bosses, Congress and White House and he looks really sick. Obama and Boehner are his bosses right now and both of them have told him to QE......so far.
He must be on prozac or sth like that, since he's getting blamed for everything and anything which is Congress's trick.
As I've said, Crude Oil price caps QEs, nothing else. Economy has died due to crude oil being above $90 for longer than 6 months, it's been 2 years already.
The only way to start the resurrection, is crude oil at $40 or so for at least 1 year. So, by now I think that all congress members and white house insiders have sold their stocks, hence there's no political hold on crashing the world market.
I expected QE to halt in the March meeting, didn't happen. I'm expecting QE to stop during May Fed meeting. It's bad, it's really bad.
Economy was in a light depression. QE sunk it into deep depression. It's over.
ekm,
Plausible. Perhaps Benny the believer wants to be absent from the crime scene when QE ends, and banks are revealed to be empty shells, insolvent, stuffed their pockets with taxpayer money and off shored their profits. He has a headache scheduled, and feels conflicted.
Or he doesn't want to handle his legacy: Buzz Bernanke, QE to infinity and beyond....
And wants to shrink back into academic obscurity, paid by all, serving none, all for his academic experiment, and Rothschild Zionism.
Perhaps both.
Benny may "miss Jackson Hole"....
But he ain't gonna "miss your hole"......
"Bend over" every one is Bens motto.
So, who scheduled his conflict?
On or about that Jackson a$$hole date, Ben Shalom Bernanke is required to be present and authorise other things...unless he is receiving urgent medical treatment for a terminal illness, the only other explanation for his absence.
Zionists and Islamists assist each other in their hateful money grubbing hatred of the Christian founded USA.
Bring in Putin and the FSB to deal with the Chechen immigrants, Islamists and Zionist failures like the Immigration Department,, Department of Homeland Security, and paid political pets like McCain and the CIA who actively supported Chechen Islamists terrorists, and allowed them into the USA as 'refugees' and 'political asylum'....and Boston bore the brunt of their failed treachery.
Bring in the FSB. End this charade.
‘Fighting terrorism is more important than political posturing,’ said a Russian source yesterday. ‘If we work together properly and deeply, we have much more chance of defeating those who want to maim and kill.’The un-Federal no-Reserve Board played the Zionist game, and imported Islamists, their weakling slaves. Boston is aware of this treachery.
Many influential people in finance and law enforcement went to church today, Christian church. Forgiveness only applies to those who repent, and make amends for their sins.
Ben Benanke, to Miss Jacksons hole.....
"Cum in Miss Jackson. Ive been waiting for you....."
The Joker in the pack. Like Jon Stewart who covers for his family's failed financialization.
The Joker Went Wild.
http://www.youtube.com/watch?v=LCC8WH1_ErU
I don't know why he's missing it, but I know one reason he isn't.
A SCHEDULING CONFLICT!
Gold price chart (25 years) - Barchart.com:
http://is.gd/Am9I89
Silver price chart (25 years) - Barchart.com:
http://is.gd/WkOXIB
Platinum price chart (25 years) - Barchart.com:
http://is.gd/UwW0hH
Crude Oil WTI price chart (25 years) - Barchart.com:
http://is.gd/x9EfQF
Natural Gas price chart (25 years) - Barchart.com:
http://is.gd/PfhdB7
Gold price chart (25 years) - Barchart.com:
http://is.gd/Am9I89
Silver price chart (25 years) - Barchart.com:
http://is.gd/WkOXIB
Platinum price chart (25 years) - Barchart.com:
http://is.gd/UwW0hH
Crude Oil WTI price chart (25 years) - Barchart.com:
http://is.gd/x9EfQF
Natural Gas price chart (25 years) - Barchart.com:
http://is.gd/PfhdB7
http://research.stlouisfed.org/fred2/series/GFDEBTN/
Federal Debt: Total Public Debt (GFDEBTN)
2012:Q4: 16,432,729 Millions of Dollars
http://www.scribd.com/doc/137226599/total-u-s-public-debt-u-s-department-of-the-treasury
The Overlook Hotel http://www.theoverlookhotel.com
http://24.media.tumblr.com/tumblr_lzvtk3Ft0z1r858p5o1_r1_1280.jpg
The Shining: Kubrick’s Gold Story film analysis by Rob Ager
1/4 http://www.youtube.com/watch?v=mAQnfOXqiR0
2/4 http://www.youtube.com/watch?v=M7xVGy2rc_k
3/4 http://www.youtube.com/watch?v=1D8bXCR6Epk
4/4 http://www.youtube.com/watch?v=BDKT-SLtq4c
Gee, how many ridiculous conspiracy theories are we going to develop about this story?
Your sort started it. Boo hoo hoo.
The un-Federal no-Reserve Board...a confidence trick, by old world feudalists.
Problem for your sort: you don't own anymore land, labor or service because of one quadrillion otc derivatives of your masters' making.
Krugman and your sort can whine as much as you like, demand as much as you want. You are bust. Not theory. Fact.
Got a dual passport to run to Tel Aviv?
Genuine American jews will stay, as they did in the 18th century, long before Rothschild zionism from old Europe financiers polluted international affairs.
U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/
I'm surprised the Free Shit Army hasn't had that site shut down yet.
He's stalling.
If he goes, he has to say something, either QE4EVA or no soup for you!
He stays away, he can straddle both sides for a bit longer?
For the first time in 25 years at least, the Chairman of the U.S. Federal Reserve Board will not attend the meeting of central bankers in Wyoming, due to a 'scheduling conflict'.
Traders,
Place your bets, accordingly. It is a conflict scheduled by his paymasters, and they need him elsewhere to deal with the fallout.
Isn't this equivalent to a President missing his State of the Union address, at the onset of world war?
If the people of the United States could have been made aware of the dire circumstances of the global economy, and what it would ultimately lead to, back in 1932, isn't it fair to say that they would have done everything in their power to make it absolutely certain that economic affairs were placed back in order immediately, or as close as humanly possible, before the loss of upwards of 50,000,000 lives?
So, there will be those, probably with more power and reach (as measured in todays terms anyway---for right or wrong), who will tell everyone to calm down and stop being so dramatic with your silliness, and your questioning of things on levels far above you.
We have recovery, we have everything under control.
Further, you are only worthy of being disseminated excuses such as 'a scheduling conflict' as to why your official won't be in attendance at a significant economic meeting, supposedly on your behalf.
Next time, why not say 'Let them eat cake'? Because either way, the message from on high is quite clear.
My hope is for someone with far more power, with genuine concern for the people, to communicate and execute true solutions in the midst of the most critical time in history. Because everyday, the ability to rescue ourselves and our families escapes us at an ever increasing, exponential rate.
I believe that whoever this person is, or who these people are, they still have time to deliver. Presuming it does not conflict with their schedule.
Maybe the FBI plans to do a false-flag... and wipe out everyone that opposes Bernanke.
Why not just beam in a hologram of that fucking whimpering weasel instead? Can't imagine anyone could tell the difference.
A scheduling conflict? How many years in advance do they plan these financial blood orgies? Maybe he wants to be first into the bunker ... dibbs on the bottom bunk.
Is the Titanic setting sail and JP Morgan canceling his trip?
According to RBC Capital Markets:
http://www.scribd.com/doc/137274290/Chart-Essentials-for-the-Week-RBC-Capital-Markets
S&P 500
- The S&P’s short-term momentum data is very oversold, and a recovery bounce appears to be getting under way from support near the March–April range lows at 1538.
- Last Monday, the S&P fell below the uptrend line from the November lows and broke down from a multi-month “rising wedge” pattern.
- This pattern breakdown typically signals the potential for a sharp decline, and, in this case, targets the November 2012 lows as a possible objective.
Site of the next false flag incedent.
My guess is that the daughter is getting married, you know how hard it is to book at the Drake.. ... and .... the financial world is exploding in July.
My guess is that the daughter is getting married, you know how hard it is to book at the Drake.. ... and .... the financial world is exploding in July.