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The (D)evolution Of Central Bank Communications
The goal of forward guidance is to steer market, as well as public, expectations about the future path of monetary policy. It would appear, to those without PhD.s that central banks are drifting from actions to words and the following chart shows the devolution over the past 20 years of central-banker-speak. We have come quite a way from the "never explain, never excuse" view of Montagu Norman in the early 20th century to the hope-laden promises of increasingly wordy statements today...
(click image for massive legible version)
and how the Big Four compare:
Source: Goldman Sachs
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That guy Carney is one smug lookin douche.
Once you've done "God's work" you're allowed to be smug. Plus, he's richer than us, so he's got it covered from all angles.
Real Forward Guidance from the Fed: "we are going to take every penny you useless eaters have left and give it to the people who own the Fed and whose names you do not know. And we are going to leave you with piles of debt that cannot be repaid. When it crashes, your owners will take back their thrones and stop hiding in the shadows. And most of you will welcome them as your saviors because you have no idea that they became wealthy because they took your wealth from under your useless eater noses."
I understand why there have been thousands of people who have signed up for that one way trip to mars.
The Fed - just when you were wondering what to do with your cache of ammo ....
Interesting article... Check out KARL DENNINGER'S Stock picks in the video below:
https://www.youtube.com/watch?v=XqWIS0O2gIk
And let me translate MY recent statement to the Fed -
EAT SHIT AND DIE YOU MOTHERFUCKERS !
FUCKING THEIVES, EVERY SINGLE ONE OF YOU !
YOUR SOULS WILL BURN IN HELL FOR AN ETERNITY DUE TO THE PAIN, ANGUISH, AND MISERY INFLICTED UPON HUMANS ALL OVER THE GLOBE BY YOU "CENTRAL BANKERS".
SATAN HIMSELF WILL GREET YOU SHORTLY UPON YOUR ARRIVAL MR CHAIRMAN AND FRIENDS..
Don't hold back Dirk, tell us how you really feel.......LOL
Central banks no longer fear anything. They are in control and they know it. Coming out after every meeting to explain in great detail how they are stealing from everyone (i.e. helping us) is just rubbing our noses in it. They do it because they can, not because there is need to.
I don't believe anything GS has to say.