Former Hawkish Bank Of Israel Head Rumored To Be Next Fed Vice Chairman

Tyler Durden's picture




 

 

While Bernanke may be about to leave; none other than his mentor and thesis adviser - former Bank of Israel chief Stanley Fischer is rumored to be in line for a new role:

  • FISCHER STEPPED DOWN AS BANK OF ISRAEL GOVERNOR IN JUNE
  • FISCHER LEADING CANDIDATE TO BE DEPUTY FED CHIEF: ISRAEL CH. 2
  • DJ WHITE HOUSE NEAR NOMINATING STANLEY FISCHER TO FED VICE CHAIR
And so the circle of life is complete. So far, the White House has declined to comment, but we note Fischer has a reputation for beng more hawkish than most - evidenced by his refusal to engage in the kind of dovish activity the rest of the world did while in charge in Israel and is especially downbeat on forward guidance.
 
Mr. Fischer said making such statements – known as forward guidance – can cause market confusion.You can’t expect the Fed to spell out what it’s going to do,” Mr. Fischer said. “Why? Because it doesn’t know.”
 
He added: “We don’t know what we’ll be doing a year from now. It’s a mistake to try and get too precise.” Mr. Fischer said he tried, on becoming governor of the Bank of Israel in 2005, to give signals to the market – but quickly gave up as he realized it restricted the bank’s future actions when circumstances changed.
 
“If you give too much forward guidance you do take away flexibility,” said Mr. Fischer. Part of the problem around giving indications of future actions is they are conditional and nuanced.

Also of note: Fischer was once upon a time considered the "dark horse" candidate to replace Bernanke:

Dark-horse candidates include Stanley Fischer, an American citizen who recently stepped down as governor of the Bank of Israel, and Roger Ferguson, another former Fed vice chairman and now chief executive of TIAA-CREF, a not-for-profit financial-services company.

For now the market seems oblivious that the #2 person at the Fed may be far more hawkish than Larry Summers ever would be.

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Wed, 12/11/2013 - 14:20 | 4236797 chunga
chunga's picture

Wow...what a surprise!

Wed, 12/11/2013 - 14:22 | 4236803 TruthInSunshine
TruthInSunshine's picture

Absolutely no conflict or issue of loyalty here...

/sarc/

Just scrap Yellen and name Mayer Amschel Rothschild's exhumed corpse as Bernanke's replacement and call it a day, FFS.

Wed, 12/11/2013 - 14:24 | 4236824 HulkHogan
HulkHogan's picture

Don't type ANYTHING! This is one of those trick headlines ZH uses to kick people off their site.

I love everyone from Israel.

Wed, 12/11/2013 - 14:27 | 4236851 PrecipiceWatching
PrecipiceWatching's picture

Does ZH deploy the same housekeeping tactic when it comes to the bashing of Catholics? Protestants?

 

Wed, 12/11/2013 - 14:30 | 4236866 TruthInSunshine
TruthInSunshine's picture

When's the last time the Fed had a Catholic, Methodist, Lutheran, etc. Chairman?

What about the Druids, for that matter?

Wed, 12/11/2013 - 14:35 | 4236875 ZerOhead
ZerOhead's picture

Seems about right... they broke it so now they can go fix it.

And the last time I checked the Federal Reserve notes in my wallet did NOT say "In Jesus We Trust"...

Wed, 12/11/2013 - 14:34 | 4236893 tmosley
tmosley's picture

This is on par with Bibi being Obama's new vice president in terms of bad ideas.

Wed, 12/11/2013 - 14:43 | 4236938 chunga
chunga's picture

Testing. Testing. Testing 1 2 3.

(Just making sure Tyler didn't send me to the penalty box)

Whoever came up with this idea has to be retarded...as always...no offense intended for regular, decent retards.

Wed, 12/11/2013 - 14:46 | 4236954 Dr. Engali
Dr. Engali's picture

"no offense intended for regular, decent retards."

 

None taken.

Wed, 12/11/2013 - 15:05 | 4237031 Popo
Popo's picture

Sort of hilarious that religion seems to be more significant to people here than the actual important news:  This is an INFLATION HAWK about to become vice chairman.   Hello?   ZH has posted literally 1000's of articles over the past year, wishing desperately for an actual inflation fighter.

And here's the first actual hope for another Volcker, and the thread kicks off with standard Israel bashing.   

He's the polar opposite of Janet Yellen.   Works for me.  

 

 

Wed, 12/11/2013 - 15:07 | 4237039 Sweet Chicken
Sweet Chicken's picture

Free Francis Sawyer!!!!

Wed, 12/11/2013 - 15:17 | 4237073 Bay of Pigs
Bay of Pigs's picture

Popo ignores the fact that there are no hawks at the FED. An inflation fighter? LOL...give me a fucking break.

Bullshit headline too Tyler. Give it a rest.


Wed, 12/11/2013 - 15:20 | 4237088 pods
pods's picture

Inflation hawks are merely the cleanup crew that comes in to pop bubbles and start the repossession party.

They are all fucking bankers, central bankers at that.

pods

Wed, 12/11/2013 - 15:25 | 4237114 Bay of Pigs
Bay of Pigs's picture

Let me drill down a quarter of an inch for the newbies and junkers here.

Fischer will be Good Cop to Yellen's Bad Cop. Same as it ever was.

Wed, 12/11/2013 - 17:51 | 4237684 Occident Mortal
Occident Mortal's picture

So the real news here is that Janet Yellen is a patsy.

This is like when Bush announced Cheney and everyone said "Ahhh, now I get it".

Wed, 12/11/2013 - 15:31 | 4237146 trader1
trader1's picture

Reincarnate Aurora ex Machina!

Wed, 12/11/2013 - 15:30 | 4237147 Joe Davola
Joe Davola's picture

I hope Francis hasn't already had a heart attack after reading this.

Wed, 12/11/2013 - 15:16 | 4237070 Greenskeeper_Carl
Greenskeeper_Carl's picture

actually, most have been hoping to END THE FED, not have an 'inflation hawk' take over. fucking pointless as long as the intitution exists

Wed, 12/11/2013 - 18:44 | 4237877 Race Car Driver
Race Car Driver's picture

> Works for me. 

What does it actually feel like, being a zombie? I mean, we've all seen them in the media, but no one actually askes them what it's like to be a zombie.

Just curious.

 

Wed, 12/11/2013 - 15:06 | 4237037 SafelyGraze
SafelyGraze's picture

would have picked a member of the immediate family to do this important job, but unfortunately they all had prior commitments

hugs,
evil-n

 

Wed, 12/11/2013 - 15:13 | 4237065 Grande Tetons
Grande Tetons's picture

I hope Mel Gibson is taking the news well.  

Freeeeeeeeeedom!! Well....maybe not. 

Wed, 12/11/2013 - 15:08 | 4237040 RSloane
RSloane's picture

Yup, me too, Doc. I am admiring this thread from afar.

Wed, 12/11/2013 - 14:54 | 4236989 putaipan
putaipan's picture

ah c'mon guys- don'tchya know he just answers to the 'person of the year' ?

Wed, 12/11/2013 - 15:00 | 4237013 TruthInSunshine
TruthInSunshine's picture

You know, now that I recall, I think that Volcker was a Druid.

My bad.

Wed, 12/11/2013 - 15:21 | 4237094 chunga
chunga's picture

Just for the sake of diversity over there at the FED, I'd like to see William K. Black get this gig.

Wed, 12/11/2013 - 21:09 | 4238308 Antifaschistische
Antifaschistische's picture

Obama said at Mandela's party....that, we still had a job to finish.   I think that means more agressive mandatory hiring laws for people who would otherwise be inelligible.

I think the dude that did the sign language job at Mandela's event should be the next Fed chair.  That guy has got to go down as the one of the greatest pranksters ever.  So...why not put him at the Fed.

Wed, 12/11/2013 - 15:01 | 4237024 SoberOne
SoberOne's picture

I am shocked, SHOCKED!

Wed, 12/11/2013 - 14:33 | 4236876 smlbizman
smlbizman's picture

francis_sawyer.....please, please come back.....please...

Wed, 12/11/2013 - 14:44 | 4236883 TruthInSunshine
TruthInSunshine's picture
That's All We Needed...A Druish Princess

*I'm part Jewish by ancestry, btw, since the genetic consideration for who is & is not Jewish is a maternal question, in case it matters - I must be a self-hating Jew...a lonely, self-hating & paper monopoly fiat hating Jew...at Christmas.

Wed, 12/11/2013 - 17:25 | 4237595 Kirk2NCC1701
Kirk2NCC1701's picture

Unless I'm very much mistaken, the VAST majority of bloggers here on ZH have NOTHING against "Jews" per se.

They merely object to its secular + expansionist/imperialistic arm:  Ruthless and relentless Zionists.  Which is a relatively new phenomenon in Judaism (since the late 1800s) and seems to have taken over mainstream Judaism in Israel and the US. 

I have Israeli friends who are not Zionist Jews, and whose voices get drowned out by their Neocons (e.g., "Nutty N' Yahoo" and the Likud Party).  They espouse mostly rational, moderate and secular views, with traditions in Mosaic Law.  But they espouse them with the typical passion and zest of their culture, which makes for lively debates (Monty Python class arguments), which I also enjoy.  :-)

[BTW, both they and I contend that Jesus of Nazareth was merely a Fundamentalist who wanted to return Judaism to its Mosaic roots, having deviated from that path by the Sanhedrin, the Pharisees and Sadducees.  And it was his unforgivable move in routing their CBs from the Temple, that sealed his own doom.  All else was mostly smoke & mirrors, as far as the Jewish elite were concerned (having handled other "Messiahs" before).  Which Yeshua probably knew full well, and planned & perpetrated deliberately. But I digress...]

Most 'candid' bloggers here (whether 'civil' or not), have no qualms in pointing out the ambitions and actions of these Zionists -- as often as it needs to be, to get the "full and differentiated truth out".  This is not easy to do, given the power & influence of Zionists.  Many of whom are now also Christian Zionists, who have been fast-tracked into positions of power & influence (e.g. the Bush, Clinton and Obama families).

In closing, as someone once said:  "When you define the Terms of the Debate, and define the Issue of the Debate, you've pretty much won the Debate".  This is ancient wisdom, that goes back thousands of years, but seems lost on most people today.  Even here on ZH, alas.  And it is absolutely ASTOUNDING to what extent these Zionists have effectively defined the Terms, the Issues and won the Debates in the last 100 years or so.  That's why claims and accusations of "antisemitism" are false-flags and red herrings, designed to (a) Deflect and (b) Redirect the Argument into the direction and position of Total Control.  It is high time that ZH bloggers got 'wise' to this, and blogged accordingly. 

The ZH segments of ignorance and obstinacy aside, you can be sure that Zionist agents and shills will not deviate from their relentless Agenda, and keep acting "as expected".  I suggest that the rest of us respond accordingly.

- Kirk out (having violated the Prime Directive once again)

Wed, 12/11/2013 - 18:16 | 4237764 TruthInSunshine
TruthInSunshine's picture

I have nothing against Jews (or I'd truly be conflicted; even if I wasn't raised as Jewish in terms of orthodoxy/dogma).

I have a LOT OF RESENTMENT towards nations & their policies, be that nation Israel, my native U.S. of A, Iran, China, Britain, etc., etc.

It would seem that deeply captured "sovereign nations" with their deeply captured institutions of "representative government" have neither the motive or incentive to look out for the best interests of their "citizenry" nor further moral, righteous causes, much to my chagrin.

Wed, 12/11/2013 - 18:39 | 4237847 TheFourthStooge-ing
TheFourthStooge-ing's picture

Said TruthInSunshine:

I have nothing against Jews (or I'd truly be conflicted; even if I wasn't raised as Jewish in terms of orthodoxy/dogma).

Yep, nothing wrong with Jews. Like pretty much everyone else, they're just people. From the ones I've met, most of them, like most people, just want to live their lives in peace and be left alone. Also, like pretty much any other group that people can be arranged into, there are some who are pretty cool and there are some who are sociopathic fuckheads.

I have a LOT OF RESENTMENT towards nations & their policies, be that nation Israel, my native U.S. of A, Iran, China, Britain, etc., etc.

Far too many lives have been thrown away for the sake of "country". My opinion is that the nation-state has become obsolete, is a threat to humanity, and should be relegated to the midden heap of history.

It would seem that deeply captured "sovereign nations" with their deeply captured institutions of "representative government" have neither the motive or incentive to look out for the best interests of their "citizenry" nor further moral, righteous causes, much to my chagrin.

While we're stuck living under the decaying remains of the nation-state system, perhaps it might be a good idea for government "representatives" to be citizens only of the nation they're ostensibly working for.

Wed, 12/11/2013 - 18:54 | 4237909 TruthInSunshine
TruthInSunshine's picture

We've gone from "[m]y country 'tis of thee" to "[m]y country piss on me..."

Look how far we've come (fallen).

Wed, 12/11/2013 - 19:42 | 4238028 11b40
11b40's picture

Excellent post, Kirk.

Driving the money changers from the Temple was the fatal flaw.  Now, too, as it ever was.

Thu, 12/12/2013 - 09:30 | 4239197 Nigh Eve
Nigh Eve's picture

Question:  What do the letters in the abbreviation "CB" represent?  (as in "...it was His unforgivable move in routing their CBs from the Temple, that sealed His own doom")

Thanks

 

Sat, 12/14/2013 - 19:18 | 4247118 11b40
11b40's picture

Central Bankers

Wed, 12/11/2013 - 17:36 | 4237625 Wolfbay
Wolfbay's picture

Volker is Episcopal. More presidents were Episcopal than any other sect. JP Morgan was Episcopal. Must be some kind of conspiracy going on here.

Wed, 12/11/2013 - 17:48 | 4237632 Kirk2NCC1701
Kirk2NCC1701's picture

That's just his cover.  Like many Americans, he's a "Crypto Mammonian", who secretly worships at the altar of Mammon.  Thought you'd have figured this out by now.  ;-)

Seriously though, Episcopals are known moderates and, unless I'm mistaken, they are the American equivalent of Anglicans (Church of England).  The link/roots that go back to Britain (its blue-bloods and BOE) are probably of greater consequence.

Wed, 12/11/2013 - 14:35 | 4236891 pods
pods's picture

I think this sums it up:

"To learn who rules over you, simply find out who you are not allowed to criticize."

pods

Wed, 12/11/2013 - 14:49 | 4236960 Dr. Engali
Dr. Engali's picture

Some times events happen that makes a person go.....hmmmm maybe I need to re-evaluate my thinking.

Wed, 12/11/2013 - 14:57 | 4236999 Herd Redirectio...
Herd Redirection Committee's picture

What I esp. like is when I criticize someone's actions, and get called anti-semitic.

Or when I criticize Israel, and then get called anti-semitic.

 

Wed, 12/11/2013 - 16:41 | 4237415 rustymason
rustymason's picture

We are a poor, persecuted minority. And if you say otherwise, we will smash you to dust.

Wed, 12/11/2013 - 15:10 | 4237048 Ignatius
Ignatius's picture

Tyler, the people have spoken.

Bring on 'The Holocaust' thread.

Wed, 12/11/2013 - 19:37 | 4238013 Pseudo Anonym
Pseudo Anonym's picture

hm, @pods

"To learn who rules over you, simply find out who you are not allowed to criticize."

"ABC Media, LTD;", owners of zerohedge,  incorporated in england - i kinda wonder who bought the original zerohedge fight club since so many were banned here recently for pointing out the obvious about members of certain tribe being criminals above the law

Wed, 12/11/2013 - 14:43 | 4236905 knukles
knukles's picture

He'd be more hawkish than Larry Summers?
How can anyone NOT be more Hawkish that larry, the tool of the street, QE$Evah
No fucking way.
The guy is not dovish enough, he is a good style hard ass in the Volcker mold (well, in that direction in relative terms) and Jewish.

You want Obie's pick (bedsides a snot ball) for Vice Chair, the guy'd be a devout Muslim, Shariah law abider, only securities would be Sukuk....
And would hate gays, women, westerners, non-Muzzies, Jews..whatever...

How could he work with the so called Jewish banking cartel?
Fucker'd ignite the board room with a Zippo, FFS

The only thing Obs wants from the Tribe is their campaign money.
Other than that, he's doing his very best to ensure Israel is wiped off the map, Iran and the rest of the Muzzies are fully armed, conventional and nuke, not to mention chemo-bio, that the Caliphate extends across the ME and N Africa, is expanded, and are in a triumvirate of global power alongside Russia and China, and the the US have no access to foreign oil.
Now, it that ain't as clear as a fucking bell, then you're still indoctrinated.

Wed, 12/11/2013 - 15:00 | 4237015 Herd Redirectio...
Herd Redirection Committee's picture

I rank this 'caliphate' as about as threatening as Osama Bin Laden.

Why do you think the Ottoman Empire splintered?  Because Egyptians, Syrians, Saudis, Yemenis, Iranians, Lebanese, Iraqis can't agree on a damn thing, never mind political union.

Wed, 12/11/2013 - 15:18 | 4237086 john39
john39's picture

Zionists divided the muslim world against itself. Zionists (including western governments, created fake wahhabi islam, which infected much of the sunni ME.  all part of a larger control system.   

Wed, 12/11/2013 - 15:42 | 4237174 Herd Redirectio...
Herd Redirection Committee's picture

Yes, the divide and conquer strategy is used everywhere, and has been for a long time.  Think of how many countries have immigration 'problems'.  Its all in the minds of citizens, though... /s

Hang together, or hang separately, that is my motto.

Wed, 12/11/2013 - 16:14 | 4237292 knukles
knukles's picture

Guys guys guys...
I did not suggest that's my plan, design or what I support in any way shpe or form.
I siad that's what it looks like Obie wants.
It's how he's behaving.
Regarldess of your or my opinions.

Wed, 12/11/2013 - 15:58 | 4237201 Uncle Remus
Uncle Remus's picture

Sounds you're already at the 19th hole...

 

Oh, and fuck the zionists.

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