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QEeen Yellen's Senate Nomination Hearing - Live Webcast
Following our earlier preview, we expect the Q&A to have some potential fireworks as the politicians demand she "get to work" as soon as possible. If you are playing buzzword bingo at home - drink if she says "bubble", "depression", "data-dependent", "fiscal", or "screw you Schumer."
Live feed from Senate:
Live feed via Bloomberg (click here if embed is not functioning):
Live feed from C-Span - click image for feed.
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Look at her...What a freak. My Gwad this is what it has come down to a marxist commie freak pulling the levers. Are we phucked or what?
<Financial Apocalypse this year
<Next year
Yellen is, of course, Jewish, so at least we know where she stands on giving testimony under oath.
Chairman Benjamin Shalom Bernanke also utilized this cultural permissibility when giving testimony to Congress, under oath.
Yes but her and Ben are under the control of the Luciferian Oligarchy, they are the ones who are to blame for all this. They are the originators and controlers of the Fed and the evil debt-money we all use.
I thought "The Bernank" was a bad speaker...This BITCH sounds like a fucking retard.
She must have done something to tick off somebody really powerful. I wonder if she is being forced to preside over the collapse.
She is clueless or just another lying tribe member.
No, she understands the country is deeply in the red and is here to "paint it black", a strategy shown by her penchant for the Gothic corporatist look! While most might say she is dressed to head to the Dollar's funeral, I bet Miss Yellen plans to put the "FUN" back in the Dollar's FUNeral!
New fed communication strategy ...
Regards,
Cooter
these "banker types" sure can fuck up a haircut
She doesn't see any glaring asset price misalignments? Are you kidding me?
Oh, that's right... Gold isn't an asset - it's a barbarous relic.
Was this lady chosen to be the poster child of anti-Semitism?
Maybe this will play out like 'Old Yellen' and we can have her put down for being a rabid FEDder...
This is LITERALLY true! This was personally confirmed to me face to face by a central bank insider whose grandfather, is the head of the Luciferian religion, and the central bank cartel!
In fact, this same man has a close relative who has a bumper sticker on his Bentley that boasts of their Luciferian religion. I've seen the car and bumper sticker myself!
What, "I stop only for the Devil" ?
Honk for Hades.
Fuck...I dont know if I can stand listening to this J-BITCH for the next few years.
OOhhh, a Francis_Sawyer wannabe...
exactly. if Tylerz were sincere in their 'policy' they'd not let this dumb hick post here.
"Dumb hick" huh? In your world this is not discriminatory?
Hey morons....thanks for grouping me with such intellects as Francis, its really a compliment. Also I have been on ZH way longer than the amount of time you fools have weened out of wearing diapers, so I dont give a flying fuck if you clowns rip me because your reputation here speaks for itself. But that dont change a thing about my views. Why dont you foos create your own ZH (ZionistHedge) if you dont like the stuff posted here (which is the truth AND nothing but the truth) and stop relying on Tyler to make this site Jew-friendly, bunch of pu55ies.
Wow...
I am sure that you can find paleo-libertarian anti-semitic site that would welcome you...
I took the liberty of googling that for you and here is what I found:
http://www.libertariantoday.com/
Maybe you can join Francis there as his wingman....Flakes you can call me a racist pig if you like...I dont care...I do hate certain races of people more than others...does that make me a racist? I use my own judgement to get to that conclusion. My views in life is a culmination of things I witness throughout my life.
So flakes...since you protect and support Jews and everything they do....that means you must hate Palestinians because Israelis hate them and enjoy blowing their brains up....so this means you are a racist.
Tyler, ban this motherfucker.
Hilarious....
Mooooooooom, Hedgeless Horseman is picking on me again!
Mom: Stop whining and fight your own battles, you big whiner.
free francis_sawyer
or better yet, you and hedgeless can go away and start your very own KKK blog.
ZH is a mainstream financial website??? I doubt it now. I mean if you have to ban someone for posting their views like francis and otto did, and you promote democracy and free speech, doesnt that make the Tylers look like big fuckin hypocrites. And now the Tylers have given the upperhand to goons like VD and flakes who dont add value to this site to target anyone they dont like. Fuckin joke....grow up Tylers, honestly. Damn fuckin lawyers getting involved and ruining a good thing...and you know which fuckin race dominates the legal system. This site used to be THE BEST, it can be again.
Praytell, what value do you add?
I can rightly claim to be the resident authority on science and energy issues...
Says the guy who thinks battery powered cars are the future.
You're a fucking joke Flak,
You and VD are Siamese twins joined at the vaginas.
Your reading comprehension leaves much to be desired...
Go join your hero Francis and fellow soulmates
http://www.libertariantoday.com/
I also notice that fucks like you are basically mysoginists as well...
Thre is a clear pattern of insulting my girlfriend or mother or in case implying I am a women...
Bigotry is clearly the refuge of little minds it would seem...
You seem to be the one throwing around names like anti semite and mysoginist.
Straight from the DNC/Alinsky playbook.
You douches are so predictable.
Oh, the irony....
So HH is an anti-semite for pointing out it is okay for a practicing Jew to lie under certain circumstances according to their religion. They don't swear to your god when they put their hand on the bible. This is what happens when people think religious beliefs ursurp law. That is the whole point of seperation of 'church and state'. Soveriegn law first, religious law second, same reason we don't like Shariah law.
"Despite the above, we find that in certain circumstances it is permissible or even commendable to lie. The reason for this is12 that the biblical commandment against lying only includes a lie that will be harmful to someone else, as the verse says: "Distance yourself from words of falsehood; do not kill an innocent or righteous man." That is, it is forbidden to lie in a way that might cause death or harm to any person."
Bernanke is lying about monetizing debt since it might hurt the children. Lie absolved in the eyes of Yahweh according to that. Doin' it for the kids sake. Works every time in absolving ones selve from a lie according to that. It is a big club and your kids ain't in it or innocent for that matter when you get into this club thinking team mentality.
When you let your sovereign laws be ursurped then your laws are useless and so are oaths to follow them.
If you want to call me an anti-semite for pointing that out then I am an anti-semite. And btw it is not just the joooooos that ursurp our laws.
She's worse than the Chairsatan in answering questions. How pathetic. She's a scared tape recorder. She puke's up whatever facts she knows. No real thinking going on here.
go fuck yourself hedgeless! fucking discriminating again! dumb rube.
I don't think that word means what you think it means.
don't think. just fuck off.
Ah, the song of the sheeple.
when a sheeple in FC clothes like hedgeless claims to 'think', it's actually preferable that he, like most sheeple, remain unthinking (and un-opining). bleat away assholes!
Will you, VD, please highlight for us the discrimination in my post?
Hey VD, are you a tribe member??? If so, your presense here posting garbage and trashing respected posters like HH already singlehandedly made more people hate you and your kind. Good job sowing the seeds of your own destruction.
I'll even write a letter of introduction for you:
http://www.libertariantoday.com/
nope, i couldn't find any..
I think someone needs to sign up for an 'affordable' healthcare plan to deal with the bacterial infection. It seems to have gone to your head. When you scratch your head as often as you do your balls that is how you know it has spread.
Keep digging VD.
You've almost hit bottom.
I am amazed how fucking stupid americans are, espically the slick corporate crowd. They rather be spoon fed bullshit for a medicore income while working in what are basically jail cells in glass towers. But as soon as you challenge their perfect little word their ego losses its shit.
Guess what people?(preaching to choir here)the fed is the greatest wealth syphon ever conceived by the banks. It has no real puprose. It creates money OUT OF NOTHING to buy loans from the goooberMINT, which WE the SLAVES have to pay through income tax with ever decreasing value. O and that money that is created ALWAYS has debt attached to it. So for every dollar that is created there needs to be 2 to pay it back. Which it is impossible. In our current system it is impossible to be debt free as a country, otherwise there would be no money supply. And if that doesnt make you happy, the very banks that own the FED take your money and trade with it on the open market!!
Why doesnt this cheap prophet write a report about that? O because its an inaccurate conspiracy theory? Go fuck yourself.
http://www.youtube.com/watch?v=DyV0OfU3-FU&feature=share&list=SPE88E9ICd...
Edit: repost.
QE cannot continue forever says Janet. But it can continue for as long as she is the chairman of the Fed. Ending QE will be the next maniac's problem (call this the Bernanke strategy).
Hedgeless is, of course, an impotent loser, so at least we know why he resorts to broad brush bigotry in the hope of masking his own inferiority.
Psychological projection was conceptualized by Sigmund Freud in the 1890s as a defense mechanism in which a person unconsciously rejects his or her own unacceptable attributes by ascribing them to objects or persons in the outside world. I'll link to it here (https://en.wikipedia.org/wiki/Psychological_projection), since a link apparently proves the veracity of any statement.
If his children have an ounce of decency, they will grow up to be ashamed of him. If I were one of them, I'd get a DNA test in the hope it might prove the milkman or poolboy had a hand in my existence.
I think I'm going to consider rooting for the Bernankes and Dimons and Keith Alexanders of the world, since they are kind of a wash morally when compared to the likes of hedgeless and his vile ilk. It comes down to the devil we know.
How so, specifically?
As an aside, if I am, "an impotent loser," then how do you suppose I have children that are, "to be ashamed?"
PS: I am a bit disappointed, chindit13, as I have come to expect better ad hominem from you.
Next year... we have the Chistmas Consumer Hopium to save us all this year...
Momma needs a new flat screen and her baby's daddy needs a new iPhone!
Momma needs a new flat screen and her baby's daddy needs a new iPhone!
Tell Momma they are giving away free flat screens in Venezuela!
Oh my God. Has there ever been a political or financial leader that instills less confidence and more dismay when she speaks than Janet Yellen? It's like they pulled some confused grandma out of a nursing home and put her in front of congressional microphones. Jesus Fucking Christ we are screwed.
She has that deer in the headlights look and talks like she has the bravado of a mouse.
We are so screwed.
Well, if you have no intention of chopping down a tree then you won't select the sharpest axe in the shed.
It's hard work picking someone who thinks they know what is going on when really they haven't got a clue, especially at this stage of the game where so much is so obvious.
TeamDepends: SGS sez hyperinflation by the end of 2014, but I don't know how he calculated that figure. If I remember rightly, he originally said 2020, then backed down to 2016, and now is saying at the end of 2014.
Moe Yellen
nyuck, nyuck, nyuck
< Janet
< Hillary
Which one makes you want to burn your eyes out more?
Not to be misogynistic, because this seems to be a sensitive thread currently, but there are times when the Democratic Party's stylists get Hillary just right, sort of bottle up her rumps and wrinkles with reams of very well-crafted fabric and spackle her face to suit subtle lighting, that if I smelt that she were able to cleanse her digestive tract end-to-end of the old cranky soy granola cat lady crap bag odor, I would bend that ass over an ottoman and tap it hawd.
But Yellen? Only if I had a gay-Larry-Finkle-magick fetish.
Oooh, maybe 2008-vintage Hillary, probably 1992-vintage Hillary, but have you seen recent pictures of Hillary? I give her some slack because being Secretary of State is a grueling job with all that travel, but Hillary is not aging well.
Cattle futures Hillary maybe; today, not so much.
They need to hire a few Kebab shavers to go at hillary's cankles at least.
Mr. Yellen = QEeen4EVA.
hey VD..........fuck u and abe foxman and israel
yeeehaaaw! rube dick!
"it has come down to a marxist commie freak pulling the levers."
Comrade, you have little faith in the bankster Federal Reserve politburo.
Always dressed as if she is going to attend a funeral
Americas financial funeral!
bigtime fucked.
This blob-woman is atrocious... wouldn't trust her to operate a hot dog stand. Or see her passing any sort of interview or screening process for a non-entry level private sector job.
Could expect to see this flavor or performance, say, at the post office pickup window... or the DMV...
We are so, so, so, so fucked....
Could only watch her a couple minutes. Almost lost breakfast.
Not sure if my capital gains will be able to cover enough Glendronach 21 needed for this drinking game.
Just gonna have to dredge up the jailbait then. 1st world problems.
"Mmmm...peaty."
If she says, "Fuck you, Ben Bernanke," I'm taking the day off. Someone will have to tell me if it happens, though, because I just can't take the shit she is shoveling.
No need for political correctness Tyler. Around here we say Fuck you Schumer! It works for the Bernank, Zero, Hitlary...you can pretty much fill in the blank with any asshole you want.
I do hope you brought cookies bitch........
talk about your ugly american. egad.
http://www.youtube.com/watch?v=mQ-ivGJNRe8
Thanks for the link ZH but I would rather stick pins in my eyes than listen to her voice
Yeah, this woman talks like she has an extra chromosome...
learn to read for gods sake
"The Honorable Janet L. Yellen... HA!!!! MADE ME LAUGH!!!
That Fuckknuckle has not one ounce of honor......
"Love child" of Sir Alan Greenspan and Abby Jo Cohen?
A golem (half-baked).
That would be great! We just would need to change the slip of paper in her muzzle, then.
#askJanet
#askjanet Who cuts your hair?
Looks like her mom with a bowl on her head judging by the photo.
#fuckyoubrad
Dear Janet,
Are you circumcised?
#askJanet
It's still pretty early here in the west, but I do have some Don Julio on standby in case she does say 'screw you Schumer'
Wait a sec.....I was told she'd be doing this topless! Damn it!
Does seeing droopy wrinkled fun-bags turn you on?
Dude, put your shirt back on; have some decorum.
Maybe it's just me...
but I think an old lady with a Moe Howard haircut has an inherent credibility hurdle to overcome.
Another fuckin HONORABLE
I really can't stand the implicit agreement with the insane notion that the Fed can perform the duties they claim in these hearings.
Not one of them even questions the idea that a private corporation is responsible for the most significant economic lever on planet earth (as our levitating markets can attest).
why do they still swear people in, it doesn't fucking matter if you tell the truth or not, nothing ever happens
First female captain to sink the ship. Not good.
Geez - I am going to be forced to listen to this marble-mouthed Yellen for the next few years on my life. . .motherfucker.
marble mouthed is the correct description
#askjanet
Do you stand when you pee?
Given that no small number of posters here want this sucker to go down (or up in flames, depending on your perspective), which course of action will lead to faster collapse:
A) Continuing QE and monetization of the Federal deficit?
B) Stopping QE and not raising the debt ceiling?
Continuing QE will bring the hyperinflation (loss of faith in the dollar) much sooner.
I wish this didn't have to go up in flames, but I fear it's just too late to stop it.
I'll keep trying though.
If they quit QE, the entire financial system would implode immediately. They can't even taper. They can't even reduce the morphine drip. What do you think would happen if they took it completely away? The addict would immediately hit the brick wall of reality.
QE is just stringing this shit along.
Yea you're right. I don't really even care at this point what they do, either way it's going down. That's what sucks, I wish there was some way in my mind to not have to go through the collapse of the dollar and all the misery that's going to cause.
It's probably going to take a decade or more to recover whenever it does hit. I feel bad for the young people, they don't deserve this.
I do feel whatever is going to much better than what we have now. I wish I could put myself into hibernation for the next decade and wake up when it's all over.
Suffering comes from mistakes. Mistakes have been made. Sins have been committed. Delaying or avoiding the misery that has already been written by us doesn't help anything. Time to get it over with. The end of the dollar will not be fun for Americans but is the current dysfunctional system fun? I'd like to see the other side. I'd like to see the post-blood/debt/petrodollar world.
Why would it change? There are no shortage of regional powers that would step into the vacuum created...
I predict the ME goes up in radioactive sarin soaked flames...
After the American Empire falls, no one left will have the muscle to enforce something like the petrodollar. Regional players may try to do it in their area but there will be real alternatives else where. Makes me think of the original colonies and how all of the fiat currencies failed depending on how wantonly they were printed due to the lack of muscle to enforce them globally. I believe that's why the Constitution says states shall not, "...make any Thing but gold and silver Coin a Tender in Payment of Debts..."
Without getting too far off track, regional powers try to fill regional voids (no shortage of them) and there will be blood...
International trade goes splatt as only "local" economies can function on a gold standard (i.e. no great imbalance of flow from things like oil are possible)...
Sounds like feudalism to me....
Feudalism with real money of gold and silver would be perferable to this centrally planned nightmare.
Really?
You would be willing to take a 75-80% drop in living standards?
Centrally planned economies are the only ones that go backwards.
The Soviet Union was a centrally planned economy and pretty much a disaster, so no argument there... And for all the things wrong with the US, it is not a centrally planned economy...
Put it another way, when exactly did things become "centrally planned"?
You'd think with 10 trillion regulations that we'd qualify. Planned through regulation might be a little different from the direct orders of the Soviet Union. American facism is just like that one comic said, a big smily face.
You mentioned feudalism and I sorta think we are feudal too. Fiefs in the form of non-profits, universities, and major corporations are handed out with expectancy of loyalty. Board memberships are handed out like titles. Isn't the Bush family royality in all but name? Even Obama was handed the Presidency in exchange for an oath or blackmail for loyalty.
I doubt the end of the blood money will end all of this. I think the end of blood money will make it more difficult to achieve such extreme heights of regulation, war, and general fucked-uped-ness.
My nominal quality of life might drop by 90% but I doubt my real quality of life would.
Regulations do not equal centrally planned... Setting 4 years of steel production targets is...
If you had brought up empty mandates like that for cellulosic ethanol, you would have a made a better point....
The EPA is not central planning, it is an attempt to keep corporate interest from from completely exploiting the tragedy of the commons...
Could things be regulated more efficiently, hell, yes.. But it means squat if you have Regulatory Capture....
---
Obama was handed shit, if what you claim was true, it would have been Hilary...
This shouldn't come as a surprise to you, I don't agree. I'm not the one who downvoted you.
On one hand, I proffer the gilded age as a the case for smart regulation.... On the other, do I really need to review the role of lead and the the measured air quality in the '60s??
http://www.motherjones.com/environment/2013/01/lead-crime-link-gasoline
Piss on motherjones all you like, I have no shortage of other links... e.g.
http://www.edf.org/blog/2013/07/10/surprising-connection-between-pollution-and-violent-crime
Do you think for a moment I pay more than passing attention to the votes? Mindyou, the battle about Peak oil has been won based on the slow change in the votes.
FWIW, the GW "debates" are trending the same way...
Tarsubil, And the alternative? How do you think it would play out?
A slow grind to oblivion.
Edit: I get downvoted just for talking to you.
What kind of discussion would Tyler want on the boards?
This exchange that I created here on dilemma of QE or the vituperative echo chamber about JY based on her parents religion?
We both know the answer...
Not to argue, but if you are indeed correct, then a lot of people here should be screaming "Print MOAR".... And that is clearly not the case....
Then I'll say it.
Print your qasses off, bitchez. Eat, drink, and be merry. Keep the Ponzi game going as long as you can. Because shit is going to get real at some point. Dude, I have no worries because I'm a quadrillionaire. I've got a couple of stacks of 100 trillion dollar notes, so I'm good.
Oh shit, Zimdollars are no longer legal tender. Nevermind.
Seriously, print the hell out of the currency. Make the market get a huge erection, even though Hoofy is all short the market. Bring it, bitchez. Let slip the hogs of war. The sooner we get it over with, the sooner we can restart.
(Hoofy also happens to have a few tangible goods that will retain value even if the USD doesn't. Everyone else get prepared. You know it is coming. Maybe sooner, maybe later. Be ready...)
Hyperinflation is not how developed countries tend to fail. It might be the final blow-off top. A monetary experience per se. Short lived as the current fiat dies and is replaced. Between now and then it is deflation/stagflation. Governments are going to claw at everything they can to keep the party going. Taxes and fees out the ass. Wealth redistrubition. Eventually bail-ins en masse. The middle class is going to get progressively crushed. Same for the "rich" that are not "in the club."
Given that the FED QE program is an "interest free" means of carrying deficits why does the Govt. have to take anything? I would argue that the middle class has already been crushed and what is left is merely the service sector for the 1%...
I am not defending QE, only trying to understand how it plays out and why.
I think that in reality it is all they can do. That makes for a scary prospect that the only exit strategy is a global collapse and reset.
But wasn't that the case no matter what what done? We are in agreement on that, are we not?
In the words of our Indian FBI guy, "lay back and try to enjoy it"
Yeah.
Seems we are locked on target here. Human behavior is the ultimate driver. The herd is going to ensure we go right off the cliff.
B.
Straight from the hip: B)
But do you really not see any alternatives? I mean, come on, two choices - that's no choice at all, but essentially a dilemma.
I guess B1) would be Stop QE and continue to raise the ceiling...
But I agree it is a diliemma...
Tough call. The descent definitely feels like one of those situations where you won't know you've hit bottom until there's no chance of going back.
Option A) == starting a war abroad
Option B) == starting a war at home
C) All of the above....
B.
QE is intended to draw this out. It is a currency war weapon.
There are enough dollars already sitting in foreign banks to create hyperinflation in the US with ZERO additional Fed monetization, all that's required is a decision to "return to sender" and use another currency for their own domestic banking ponzi schemes. Brilliant Strategy for a Currency War...
What evidence do you have of this claim?
QE is tied closely to the level of excess reserves held at the FED as noted many times here in ZH articles...
It is digital one and zeros, not stacks of Benjamins....
And it is sterile until brought into existence as private sector debt...
Don't get me wrong, the game cannot continue indefinately...
Once you overcome inertia in the hoar layer of either commercial or offical USD holdings overseas the zero velocity of those (currently) sterilized and stabilzed dollars on the US bank's balance sheet comes into question very quickly.
US Treasury Issuance Held by the Public
http://www.treasurydirect.gov/NP/debt/current
Money Supply m3 (m0 is also interesting because everytime the FED audits it the vast majority (75%) of it cannot be accounted for within US borders)
http://www.federalreserve.gov/releases/H6/
FRB Assets and Liabilities of Foreign-Related Institutions in the US
http://www.federalreserve.gov/releases/h8/current/
EuroDollar Market Volume (Since the FED dumped Overnight and Term Eurodollars from FRED)
http://www.cmegroup.com/trading/interest-rates/stir/eurodollar_quotes_vo...
IMF COFER (Official F/X Reserves)
https://www.imf.org/external/np/sta/cofer/eng/
BIS Triennial F/X Survey (USD is involved in 88% of global F/X transactions, i.e. 44% of global crossborder flow)
http://www.bis.org/publ/rpfx13.htm
BIS Global Liquidity Indicators (table I.3 ~$7T stock non-bank credit)
http://www.bis.org/statistics/gli.htm
You are aware that the excess reserves come under "Debt held by public"?
FRNs are a near universal medium of exchange, I would argue that normalizing for popluation and GDP per capita, that Jamaica has more FRNs in circulation than the US...
I don't really disagree, but the unwinding is a process not an event. And repudiaton of US Debt will be heralded by a rise in bond yields first. Those bonds must first be converted in dollars...
And finally just where all the dollars suddenly go? Euro? Yuan? CHF? Gold?
The process will be slow and painful, not quick (short of a massive US military defeat, i.e. loss of multiple carrier groups)....
Any, we can continue this later, I have to go run some errands....
I don't disagree that the interest markets would have to move at least fast as the currency markets and may in fact lead them. But I'm losing confidence that it necessarily has to be a slow event. The fact that anyone of the big three currencies can move up to 2% in a day is a manifestation of underlying instability. Currently, all the central banks play nice and intervene to restore stability, but what if that changes?
The US is only 19% of world GDP and but the dollar used in 87% of fx txn vol, Japan is 5% and the yen is used in 23%, Great Britain is 3% and the pound is used in 12%. More importantly, the Eurozone is also 19% of world GDP and the euro is used in 33% of txn vol, and while China is 15% of world GDP, the yuan is only used in 2.2%. If the slow route is chosen, EUR & CNY are mathematically large enough to absorb any lost US market share.
The bylaws of the IMF and BIS are skewed to benefit the US, and the US has no desire to surrender the USD reserve status/market share. Negotiation is a pre-requisite to slow global monetary reform. President Stompyfeet is neither a strategic thinker nor a negotiatior, and he's not going to improve his skills by facing of against the brainless Boner. All of which bodes ill for slow and negotiated reform and favors fast reform by crisis management.
The banks are a big variable (and the US actually only domiciles 3 of the top 20, of which JPM and Citi include substantial foreign operations). As long as the large banks can survive and profit, what do they care what currency is used a basis for calculating their net interest margin?
I'm not saying it will happen quickly, but over the last quarter I've seen too much idiocracy in Washington to be confident it won't happen quickly. On the other hand I'm still trying to borrow USD to do a banana republic farm and tiny factory which is going to export food to the EU and be paid largely in euros (despite the fact that European fruit is priced in dollars), so old habits die hard...
The bond market cannot liquidate... A lot of those over-night dollars will evaporate because they were brought into existence virtually. Possession will truly become 9/10ths of the law...
What happens to dollar afterwards is a good as a guess as any, I certainly do not want to be holding them at the time... "Physical" FRNs might hold up better that you think, especially if D.C. holds things together when the Bond Market busts...
And I cannot over emphasize it is the convertability of the dollar into oil is that matters at a maco-economic level. and things will not "collapse" until that is the case...
The first act in the grand show is now only really ending....
5 guys in Geneva or 12 in Vienna is all it takes to create an ugly resonance beneath the foundation of the petrodollar paradigm (and none of them are named Rockefeller or Rothschild). It would make an interesting opening to the second act.
Here is the catch, while the status quo's days are numbered, I am pretty sure that no one is going to slit their own throat, so while places, e.g. Russia/Iran, may forgo the dollar, until someone is able to come up with a viable alternative that is amenable to the the rest of the G-20, no one will rock the boat...
Call it the financial version of MAD...
Look how long Japan has been doing QE.... It was the Tsuanami that ultimately tipped them over, not printing... That quake was a $300 billion disaster involving real not paper assets...
MAD actually cuts to what I'm struggling with, since it presumes a zero-sum game and perfect rationality. I know perfect rationality doesn't exist and who knows what the math nerds have come up with when not working on HFT algos, but I'm pretty sure they leave zero-sum as soon they move from finance to economics. More specifically, under what circumstances might a participant deicde that the risk of action is no longer greater than the cost of inaction? I'll have to sleep on that one, because I won't be capable of playing nice with Mammon's Minions if I'm groggy.
Consider the leverage in the system and the global counterparty exposure. I still content that we already hyperinflated. It just happened outside of normal monetary channels thanks to globalization, computers, and creative financing.
checkin out after 2 minutes. can't listen any more. America is lost. Good luck.
Que up Dana Carvey as the Church Lady redux...
She sounds weird. A little or a lot off.
Don't the heads of the central bank of Japan have shorter and shorter careers? Don't they have a tendency for killing themselves and having themselves committed? I wonder if that will start happening with our American maniacs?
Not used to listening to the handlers in her earpiece in real-time; she'll get the hang of it.
I keep thinking of this:
"Which way did he go, George?"
Job interview for the new captain of the Titanic as it approaches the iceberg.
Holy Fuck! Does she really believe the diarrhea bubbling out of her own pie hole? Proof the system is totally broken and co-opted. Ammo, single barrel bourbon, freeze-dried and PM, Bitches. Hold on, its a steamroller ride down the hill to total economic Armageddon.
Financial stability - lolololololololol