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Fed Chair Yellen's First Congressional Testimony - Live Feed
We've seen the prepared remarks for both panels:
- Yellen - Fed 'easy' but staying the course on Taper
- Taylor - Fed policy is the problem
- McCloskey - Fed regulation has reduced Main Street access to banking
- Calabria - Fed exit strategy not credible; cause of instability, not cure
- Kohn - Fed independence at risk
So this morning's "Monetary Policy and the State of the Economy" (Humphrey-Hawkins) hearing should be a somewhat contentious baptism of fire for Janet as the Q&A starts.
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nice to see they got the goatskin in the background and capitol hill as a screensaver...
Mr. Owl, why are "safe-haven" bonds burning this morning?
Yellen is a Romulan.
KEYNSENIAN FIAT MAFIA...
Please Tyler don't put "Yellen" and "easy" in the same sentence.
Thanks,
Everyone
what about... flexible, downward sloping, or reserve-less?
Just stay on the BIS provided script and all will be well.
Can't believe it took me this long to realize it, but "Yellen" rhymes with "felon".
Just sayin'.
Keep talkin' Yellen; Gold is up to 1,292.00...
My thoughts exactly. Keep this dirty old bitch on, she is gold for gold.
No she's awful for gold. This is a buying phase, we need her to kill gold whilst we can accumulate. Because that baby is going to head to the moon regardless of what she says.
Central banking is not going to survive another generation. There will never be a gold-backed dollar.
Too bad losers.
NO MATTER WHAT, they have to give the IMPRESSION in the markets today like they LIKE what everything J-BITCH says....Its all about PERCEPTION. What a SMASHING SUCCESS she is TODAY....but i can only speak for TODAY.
God, she reminds me of Darth Vadar without the helmet.
qualified sane sober people cant get a $12/hour job BUT the stock market and corporate profits are rocketing
welcome to slavery circa 2014
the system is beyond change...it has to be overthrown
yes sir...revolution time ! (after the American Idol finale, that is !)
You don't need a central bank to have a gold backed dollar.
The dollar will likely be linked to gold at some point in the future. International trade settlement requires it, as much as we might not like that.
The best course would be for competing currencies to be legalized. The US can issue a gold backed dollar if it wants. People just won't trust it, having been burned very recently.
She's straight up reading a script. Hence the glasses....
a gift to my ZH real money cats...
my version of todays hearings....enjoy
https://www.youtube.com/watch?v=xXeS0EP4U9I
Good stuff, but please don't insult Yoda. He was a prepper, went off the grid, and lived to be 900.
yeah, ur right about that...
yoda wouldnt be havin any of their bullshit...
noted.......
Love the action on Bernanke.
That would be the prepared remarks linked above.
So we could say Yellin is sooo gellin'.
whatever... I wish she would pauze a bit because I need to take a piss...
I coined Yellen like a felon.
She sounds like George Costanza's mother.
like nails on a chalkboard, or an irs audit
As I mention below, Androgynous Pat came to mind.
Grandpa Munster, al lewis
Stifle, Edith
Yellen reminds me of Grandpa Munster, al lewis.
https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcT-F0Sxzns9rx4fdHyk...
A female emperor Palpatine-
https://www.google.com/search?q=emperor+palpatine&espv=210&es_sm=93&tbm=...
Empress Pamparine.
WTF does maxine waters have to add to this event?
Anyone?
a) brains?
b) insight?
c) nah, just color
d) So they will have someone that makes Yellen look attractive and intelligent by comparison
man i don't know... even that's a bit of a stretch.
e) comedy relief maybe?
f) Let the Wookie win?
Aaaaaaaaaaaaaaaaaand here comes the income inequality BS
"is there ANYTHING the fed can do to help us nigs?"
why not let the fed fix 'global warming' as well...
waters supports QE. brilliant.
You know black women. If you don't let them say what's on their mind, they'll just sit back there muttering...
"Oh...uh-uh."
"Dat ain't right"
"Oh, no she di-in't"
"Tie yo shoes girl, cuz you trippin".
Ok, fine Maxine....WHAT?? Get it out. Hurry up!
laughter.
Painful listening to this BS..............
From Washington to Hussain, Hamilton to Yellen.
Dwarfs, freeks and clowns.
I would never have believed that such a squat little troll could be so well politically "tuned," saying very little of any substance, and committing to absolutely nothing.
Well done, PTB!
geeee, i wonder if the decrepit fat cow has the answers to all the questions already memorized like she did at the confirmation "hearing". what a fucking joke this clueless twit is.
I wonder what her nervous ticks will be...
http://youtu.be/PhsA9CM7p5c
Didn't have any idea she
would
talk
so
slowwwww.
All a ruse, brain is churning at top speed with hardly a pause to spit out the words, one at a time. But only sometimes. What's the rule ?
She does the chicken head bob really well when she becomes uncomfortable.
Perhaps her slow manner of speaking is what got the job in the first place. The retards on the hill can finally understand what someone is saying. At the very least they can identify some words. That is good enough for most of them.
The 'retards on the hill' had no role at all in her coronation other than to vote it through.
thank you zh for not including a picture
Looks like gold is the go to asset regardless of market movement now.
That is usually an indicator there is not a whole lot 'o' confidence floating around out there.
First lose cred, then con, then your ass....
They need musc at these "events". I'm thinking the theme from Hogan's Heroes.
There is no credible strategy. The strategy is to force every other "economy" and currency into the sh*tter ahead of the U.S. Like resting on the rail at the stern of the RMS Titanic.
(if only another ship (currency) would come by, we'd all be saved...)
at least you get to see the whole ship shink from there.
And thats what the "USD ONLY for oil" buys you. Should you decide to leave voluntarily and get off the "reservation" proceed at your own risk. It's all we have left -just listen to this jackal and this hyena on how well it's going for their investments.
yep, last man standing, relative strength
Todays' listening guidelines ...
Unemployment - 1 shot
Interest Rates - 1 shot moonshine
Reserve Currency - bong hit
Stay the Course- all 3 at the same time
Stay the Course- all 3 at the same time = On the floor in less than 5 minutes
Fed policy is the problem
Strike "policy" and there's yer winner.
Federal Reserve of the Banks, by the Banks and for the Banks.
The rest of the country and its citizens be damned. The main aim of the political class and the central bankers around the world is to create one bubble after another for the zombie bankers to feed on. The majority of the population who actually work hard to earn their living by engaging in productive work have to pay the price by either loosing a majority of their earnings in the form of taxes, interest on loans or paying the bill for the bailouts.
www.marketoracle.co.uk/Article40231.html
Better live feed from Reuters:
http://live.reuters.com/Event/Janet_Yellens_Congressional_testimony
go to Cspan for a direct feed
If she could just keep her head still she would look like the old cartoon "Clutch Cargo"
and his pal, Spinner!
All feckin' Kabukifein Theater. The Fed knows it could not continue buying all the feckin' bonds out there w/o completely losing credibility. In fact QE lasetd way longer than it should have. Now the Fed just buys the SP 500 futures to maintain control.
Bonds are the basis of any capital structure and thus infecting the US bonds with the Fed poison could only go so far without cardiac arrest. The motons at the Fed are now buying the Stalingrad and Poorsky 500 indices futures. Easier to do and doesn't screw up the repo markets.
Additionally, QE was really about taking all the balance sheet carnage off of the banks and to the Fed. That has to be pretty much completed at this stage ($4 trillion later). Sooooo.... it's now all about keeping the "wealth effect" going with the equity markets.
One small problem however.... rising yields on UST's without Fed intervention, Obama and his smirking pack of Alinsky jackals are being exposed for the absolute incompetents that they are. .... China vs Japan, Putin vs Europe (Ukraine)... and no US hegemony in sight.
Bang !
And, these people really believe this shit..........scary
bwahaha... Maxine Waters.
So, is this a Q&A for Yellen, or an opportunity to pontificate and make politically expedient speeches to build your voter base? lol
Maxine Waters is a fucking retard!
I am sick of her fucking voice already !!!
I think she's DYSLEXIC due to Dick Sucking
She sounds like a prime time cartoon character.
Who wrote this crap!?
So my wife (who gives a shit about economics) is at the kitchen breakfast bar with me and she comes over and looks over my shoulder to see what Yellen looks like and she says: "So they told them to choose the 'form of the DESTRUCTOR' and instead of the Stay Puff Marsh Mellow Man they chose Mother Goose?" LMFAO
I'm still convinced that she's really Summers in drag.
Why is my Grandma on TV?
Looks like we've got a blast-off going for the PM's right now. What did that bitch say???
We're goin' vertical, bitchez!!!
Is she Forrest Gump's mother? She seems to be speaking slightly retarded.
That's her defence when everything hits the fan. "Didn't cha know? I is fuckin retarded, so it ain't non of ma fault".
You can be independent with your fucking money asshole!
Maxine, Um, Um, Um, Uh, Uh, Um, Ah, Ooof
Its Larry Summers in bad drag.
So does the market rally or not after she shuts her yaeeeeeep?
I like the ' Riddler " outfit shes wearing.
Actually there are two subliminal Christian crucifixes on her dress -- one on each shoulder.
She's a better liar than the old Chairman. Ben Bernanke was always stuttering or sweating or looking like he was going to bust out laughing...
She looks like she is using half her mental powers in an attempt to prevent herself from drooling all over the microphone.
I thought I was the only one who noticed that about Uncle Ben, LOL ....
I find it hilarious Maxine Waters is the new ranking member of the democrat party. Note every question Maxine asks is scripted. Now, most do read from a script on their opening statements, but they know enough to ask questions without a script. Maxine can't do this.......or at least not well enough to stifle laughter.
Scripted?
Just like her boss, the Brown Clown.
BROWN CLOWN!
That's going in the filing cabinet. Well-done.
She lacks Bernankes' gulp gulp gulp of false humility. Here's what I hear: We own you. We are persuing a policy of full employment for all of our debt slaves. Our policy of binding everyone who labors to infinite debt has miles to go before we sleep.
How can we be sure Janet is, in fact, understanding, and definition - a FEMALE?
For that matter how do we even know Bernanke was a man as we were left to believe? I submit that since the Fed will not permit a congressional audit, that we demand a physical audit of its chairwoman. In the best interests of full disclosure and transparency, it must be known of what sex the chairperson is - transvestite, transgender, or man, woman, as claimed. Citizenship is just a curiousity.
SUGAR KEYNES: The Darkside of John Maynard Keynes, Architect of the US Federal Reserve, His Perversion & Pedophelia
Is Fed chairman-now incumbent Janet Yellen a bi-Keynesian, too?
http://chasvoice.blogspot.com/2011/08/john-maynard-keynes-lavender-bolshevik.htmlIs the aspect ratio fucked on my monitor?
Time to schedule yet another trip to the coin shop. I'm running out of fiat to convert. But it's fairly obvious that the Fed has no clue how to exit this experiment. Also, this "forward guidance" is complete bullshit.
wow, she's terrible at thinking on her feet. I wonder if the market isn't starting to correct down based on a certain unease in her competency based on the difficutly with which she answers the questions.
Is she special needs? Is that a pre-requisite to head the fed?
Leadership, by Janet Yellen:
http://www.wimp.com/janitorrevenge/
Bear in mind, these are the people/drones/robots elected/appointed to rule/run/govern the country/world/universe.
Hedge accordingly... or, just kill yourself now.
Whats wrong at ZH today?
Yellen has gotten top billing over bitcoin.
She likes to go on and on and on......I learned a long time ago. The less you speak the better. ..... She is likely to let slip and trip up many times moving forward. ..... This is a very good thing
Yellen. Man of the Year.
Hh my God I can't take it - this bitch is congratulating Yelling for being the 1st woemn to head the Fed in 100 years. Oh. Yes what an acivement!
That is apparently her prime qualification, because thinking on her feet sure aint
That would be in line with socialist agenda, equality over competence.
Jesus Christ the Womans Movement ? Fuck elect a socialist knucklehead because he is black and elect the Fed Chair and it's great because she's a woman?
how about qualifications and the coincidence shes a woman
Too bad shes not a Hispanic Woman. Fuck
USD/JPY trending down small caps indecisive yet dow and SP up did we disconnect from the carry trade?
i feel confident
that we're fucked?
I refer to this as "optimistic pessimism."
Elmira Fudd?
Awesome, Elmira Fudd, hahahahah
Fucking sure one of those guys sat behind her is a ventriloquist, swear his hand is up her back
She is going to be GREAT!!! If you are not in the stock market or gold (and not thhose fucking miners) you are a complete idiot. This lady is going to print like there is no tomorrow.
Janet Yellen didn't know what a part time work week was. LMAO
Edit: And CNBC panned to LIESman when she stumbled over that question.
Silver miners doing well this week.
Miners have done fine since the beginning of the year, but over time they don't keep up with the metal. Look how they've performed over the past 5 years compared to the metal. I've looked at gold and metal is up 50% and the miners are down 50%.
Oh, fuck, she does not know what part time is?
Yeah, I'm PRETTY SURE you should know the answer to this question if you are fucking chairman of the federal reserve!! WTF!!
.... She knows, its OK to tell the truth part of the time.
Part time is the new full time.
AMiRIGHT?
Gold Goes Vertical, Breaks $1,290 During Janet Yellen Testimony
Gold goes vertical with short squeeze in action after the $1,270 level today. The highest print was $1,292 so far and the real game of music chairs will be started after $1,300 and tomorrows headlines. The big boys are loaded as well as flood of articles positive for Gold in WSJ, Reuters and Bloomberg can indicate. General public is still chasing the last Bubble in the general equites and GDX - ETF with Gold miners is breaking above 200 MA today. The real reason for the run are actual Chinese numbers from Koos Jansen report of 2,181 t of Gold consumed in China in 1213 and the coming shortage of physical Gold.http://sufiy.blogspot.co.uk/2014/02/gold-goes-vertical-breaks-1290-durin...
This woman determines financial market conditions, but can't even define part time.
What. A. Fucking. Joke.
There it is, Guidance ...
"we will consider a broad range of reasons for the decline in the job creation and a notable change in the outlook"
So, bad storms, or a huge decline in the market, spending, growth, or a significant whatever -
ANY of these will result in a rise in purchase of MBS and Treasuries.
So sayeth the Yellen, rapidly. Seems she does read slowly.
Go Gold
Shiny hair on Yellen this morning - Silver highlights ?? With the Christian cross on each shoulder - an artifact of the dress - very subtle attire to go with the large (black?) pearls.
Silver at $20.27 and headed north.
Well that was a trifecta of the woman's movement right there. This one barely speaks English !!!
Yellen's voice is like nails on a chalk board.
Seriously, how are we going to stand listening to it for the next decade? She really looks and sounds like Captain Kangaroos wife.
The next decade? LOL The only reason I can see putting this person in charge is because it is all coming to an end. First day on the job, in an outfit printing unheard amounts of money, and she says low interest rates are due to too much money being banked?I knew she would fuck up the works on day one.
Please.... I'm begging you... someone wake me up and get me out of this nightmare.
No shit!
US 'consumer' (fuck I hate that word) savings are at a record low, and this mophead bitch has the fucking NERVE to blame Fed-manipulated low interest rates on ...... excess savings?!!
Was there not even ONE honest and righteously indignant person in that room to punch her in her facial fartbox as she fully deserved?
Not sure who's worse Yellon or the committee
Did she give a shout out for Shirley Temple?
She definitely gives good headache.
"interest rates are well below 2%..."
lulz
She just said it "Because we have a weak economy...."
I watched her for a while before I figured out where I heard that voice, that type of cadence/delivery before. I have a niece that's a high functioning imbecile due to hyperthyroidism.
Sounds just like her.
Just sayin.
Diane Rehm - slow articulate delivery on NPR
Smart lady, good interviewer - sound-alike for Yellen
never attended college
What!!!!
She says low interest rates are due to there being too much demand for savings????
...Then why the hell are we printing $75 bil a month?
It does not compute, compute, compute........Entering auto shutdown mode...
You should know better than to apply skepticism to sophistry. It hurts for a reason.
"Plentiful savings rate"
WTF, this woman is fucking clueless!!!!!!!!!!!!!
BWAAAAhhhaaaa...... I cannot stand it. This would be funny if it were not so sad.
She doesn't understand that with the yield, comes the risk.
THANK YOU greenspunk, burnyankme and ol' yeller for forcing the old from hi-grade paying investments into hi-yield JUNK FUCKIN SHIT!
I have clients sitting in pools of $$$, not able or willing to invest in these fucking yields.
Let the markets heal themselves. Stay the fuck out of the manipulation!
motherfuckers
When do they finally just say fuck it and break out in Yiddish?
Well she's got the Captain Kangaroo part down, but I have another question:
I haven't watched Saturday Night Live in years, but doesn't she sound a bit like Androgynous Pat?
BubbleJew
Questions and Answers
1) Whats your favorite color? Ctrl-P
2) Who's your favorite to win american idol? Ctrl-P
3) What does the fox say? Ctrl-P
I think we need a recess.
If you wanted to destroy a nation's economic engine, we are on the right path....
Edit: And this is what they will do all the way down to the bottom: Monitor.
who cares about this 'shit'....that football player is gay.
Can't wait to get to the Fed Hater round. Wonder if "Yellen the felon" will break a sweat then.
Different asshole same show that's been on several years now.
she's got Betty Davis eyes............
o boy do i hope this bitch dies along with every fucking banker alive.
this fucking bitch is unbearable.
fuck u yellen u fucking cunt, go fuck yourself
but how do you really feel about her? LOL