Why Did The Fed Hold An Emergency Meeting Yesterday?

Tyler Durden's picture

Everyone knows that the FOMC announcement, due today at 2 pm, will be the culmination of an orderly, traditional 2-day meeting which started yesterday, April 29.

What few know, however, is that in addition to the generic FOMC meeting which started yesterday at 10:30 am, at about the same time, the Fed also held an "expedited" emergency meeting between the four board governors Yellen, Tarullo, Stein, and Powell.

As the WSJ adds, "The four members of the board met to discuss "medium-term monetary policy issues," according to a meeting notice posted on the Fed's website.... A Fed spokesman declined to say if the two meetings were combined, or how long the board meeting lasted." The WSJ also notes that the "last time the Fed board met to discuss "medium-term monetary policy issues" was on April 26, 2011, according to analysts at BNP Paribas."

The notice:

So what was discussed? We won't know because the "meeting was closed to public observation by Order of the Board of Governors because the matters fall under exemption(s) 9(A)(i) of the Government in the Sunshine Act (5 U.S.C. Section 552b(c)), and it was determined that the public interest did not require opening the meeting."

Ironic, because nothing the Fed does is in the public interest. Or, to be specific, 99% of the public...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
LawsofPhysics's picture

Please, that's easy. It's 2008/2009 again and nothing has changed.  The same criminals and or their political puppets are still in charge, but the numbers are much, much, larger...

Tick tock motherfuckers...

ArkansasAngie's picture

Untapering the untaper!

Oh boy!  Only good things can come from a closed Fed meeting.

So ... does Yellen have balls or not?

rehypothecator's picture

Representative government derives its legitimacy from the informed consent of the governed.  

Pladizow's picture

“Everything secret degenerates, even the administration of justice; nothing is safe that does not show how it can bear discussion and publicity.” – Lord Acton

knukles's picture

Whether the Bisley Boy tale applies to Dr Yellen as well as Queen Elizabeth I?

remain calm's picture

To discuss Yellen new Douche preperation. She wants to make sure she is as fresh as possible when the financial system collapses.

nope-1004's picture

Someone on TeeVee told me that things were getting better.  So they must have met to try to figure out how to contain all this irrational exuberance.

 

 

Either that, or the fact that a debt based system dies unless phantom assets can be inflated high enough to attract more debt and leverage (I think the Fed calls this inflation, which is somehow good) has them concerned.

jbvtme's picture

did i see yellen playing a bit part in pac world?

BaBaBouy's picture

What Was Discussed???
How To Short More GOLD We Don't Have, To Keep The Keynesian Dollar From Imploding...

max2205's picture

They are trying to figure out how to keep Spy up and prevent a collapse of TWIT IWM and IBB...good luck!

Bananamerican's picture

Peak Transparency™.....bitchez

gmrpeabody's picture

"So ... does Yellen have balls or not?"

From the look on her face..., I'd say she just discovered that she does.

outamyeffinway's picture

The meeting notes have you cannot!

SumTing Wong's picture

I'd say someone knew the 0.1% GDP growth number ahead of time and wanted to think it through before the FOMC decision. There may have been a few pairs of brown panties involved in this also...

old naughty's picture

"...Yellen, Tarullo, Stein, and Powell."

And Fisher.

DeadFred's picture

'Belgium' has been buying massive amounts of US Treasuries. Someone insane has been buying enough periphery bonds to drive their yields down to absurd levels and gobs of USDJPY mysteriously gets bought whenever it drops to the magic 102 level. US, Japanese and EU central banks are propping each other up each other since they can't openly do it for themselves without causing a loss of confidence. Someone's ammo is about to run dry and it's time to come up with a plan B. My guess is the US is running short of yen to shovel against the tide. The Fed can print dollars all day but they have to have the yen in hand. Oh well Obama said there would be costs if Russia didn't back down.

 

It crashes before the end of May.

Chief Wonder Bread's picture

Anything to do with this?

"...last time the Fed board met to discuss "medium-term monetary policy issues" was on April 26, 2011, according to analysts at BNP Paribas."

Why does WSJ quote 'analysts' at BNP Paribas? Maybe they have a special interest? 

http://www.bloomberg.com/news/2014-04-30/credit-suisse-bnp-paribas-charg...

Prosecuting the companies would break with a past practice of brokering settlements with large banks that are considered integral to the financial system. Previous probes have been resolved through so-called non-prosecution and deferred-prosecution agreements, which have been criticized by U.S. senators for failing to hold banks accountable for breaking the law. Preet Bharara, U.S. Attorney for the Southern District of New York, responded last month, saying that “a significant financial institution” will soon be charged...

... To prepare for potential criminal charges, prosecutors have met with regulators including the New York Fed to discuss how to contain the fallout, the New York Times reported, citing records and unidentified lawyers.

Bernoulli's picture

What if they just add onto each others balance sheets in bits and bytes - much more than "officially claimed"...

FED, ECB, Bank of Japan and Bank of England are not audited, so no one should notice and then they agree when economy picks up they will unwind... JPM, BofA, GS, DB, Citi and other big ones are all in on this and trying to put some of the shit on their balance sheets under "derivative transactions - OTC - interest related", but it all starts to spiral out of control because of the sheer magnitude of the rig. A lot of book-cookers with heart attacks, nervous break downs or jumping off the roof...

And collectively, they are like a gambler lending and stealing and scraping together more and more money, convinced he will "win back" the losses some time later and everything will be fine...

I'm just wondering about two things:

1) Did Putin maybe tell those crooks in 2013 that they should finally cut the crap because it's way too much now and they lead the world to the edge of disaster?

2) Is the PBOC in on this or not?

johngaltfla's picture

Summary of Fed meeting:

Russia.

Petroruble and Petroyuan.

Oh shit.

Pure Evil's picture

Why is it that picture of her face reminds me of an ostrich?

V in PA's picture

Looks more like 'OMG that's huge!"

NotApplicable's picture

One would think that Larry Summers could find a better wig.

Aaannnd make-up artist.

silverserfer's picture

What is missing from the picture is the caption " Yes I assure you we are quite safe from your rebel friends here"

SilverIsKing's picture

They were handed their scripts and they spent the emergency meeting preparing their lines.

I expect a Tony AwardTM nomination at a minimum.

BaBaBouy's picture

What Was Discussed???
How To Short More GOLD We Don't Have, To Keep The Keynesian Dollar From Imploding...

THX 1178's picture

Why did they call an emergency meeting?

-Cuz there is an emergency.

What do i win?

SoDamnMad's picture

You win a weeks paid vacation in Donesk, Ukraine  with "USA" lettered on the back of all your clothing.  Lucky you

rainingFrogs's picture

an autographed copy of Yellen's Central Banker's Illustrated deer-in-the-headlights centerfold, swimsuit edition.  huma! huma!

i-dog's picture

Yellen = Ashkenazi
Stein = Ashkenazi
Tarullo = Jesuit
Powell = Jesuit

Ashkenazi = ~1% of population; Jesuit = ~1% of population; but 100% of FED governors.

I guess that would be a fair representation for affected citizens ... in some alternative universe!

Squid Viscous's picture

what is the Jesuit angle, please explain... some kind of Illuminati stuff?

there is a similar composition to Supreme Court, so you may be on to something...

Herd Redirection Committee's picture

Washington DC: Military Arm of NWO

Vatican: 'Spiritual' Arm of NWO

Wall St./City of London/Frankfurt: Economic Arm of NWO

The Jesuits were writing world history all the way back in the late 17th century.   The important qualification is to be a sociopath, as far as I am concerned.  If you have proven yourself a violent sadist, or a cunning manipulator, you are 'in the club'.

Colonel Klink's picture

Yep to put out the brainwashing to the masses to control them from that angle.

Monty Burns's picture

Jesuits psychopaths, violent sadists?  Not any of the ones I've known. Au contraire.

Omen IV's picture

Read: The Secret History of the Jesuits - by Edmund Paris (quick read)

Long 700 year history of geo-political intervention - Jesuits were Nazi collaborators 1930's - Pope Pius XII their man - and many of the european Bishops worked for Hitler

existing sitting Pope a Fascist collaborator in Argentina - trying now to make amends for his actions regarding the desperados etc

Squid Viscous's picture

disagree with "Nazi collaborator" tripe - that is straight from anti-catholic Zio-media and has been thoroughly refuted ... and doesn't fit at all with the original point of ashkenazi/jesuit conspiracy....

Dublinmick's picture

The FBI just released records indicating that Hitler was not in the bunker and escaped to Argentina. U.K. records are sealed for a hundred years.

 

I suggest Greg Hallett's book, "Hitler Was A British" agent." It will show his training in Britain, Irish relatives etc.

http://greghallett.com/

It gets even better as more links such as this are popping up, some indicating that Der Fuhrer was a Rothschild and Angie is possibly his daughter.

http://www.thecontroversialfiles.net/2013/03/angela-merkel-hitlers-daugh...

Most everything you think you know could just be wrong.

http://www.onlinepublishingcompany.info/content/read_more/complexInfobox...

NotApplicable's picture

The Jesuits are still trying to get even with Martin Luther (and apparently will stop at nothing to do so).

i-dog's picture

Venetian Cardinal Gasparo Contarini was a leading supporter of the Reformation - in particular Martin Luther and the Swiss Calvinists - at the very same time as he was personally intervening with Pope Paul III to sanction Ignatius Loyola to form the Society of Jesus to conduct the Counter-Reformation!!!

In true Jesuit/Venetian/Khazar fashion, he was playing both sides. Nothing has changed since: Problem ... Reaction ... Solution.

Ghordius's picture

evidence for that? Contarini was for dialogue with the Reformers. That's quite a stretch between being willing to talk and being a supporter

further, the whole Counter-Reformation involved many other religious orders. I'd suggest you read both sides of the story, it gives you an interesting 3D effect

i-dog's picture

As the leading member of the Spirituali, Contarini was not only a supporter of Martin Luther but also of Galileo and Copernicus (whose theories were the catalyst for the division of the Roman church).

You're too close to it to see the broader picture, Ghordius.

Squid Viscous's picture
  • so the
  • great schism was because of astronomy? got it....
Herd Redirection Committee's picture

You want to see someone play both sides?  Look no further than Cardinal Richelieu.  Damn near let his enemies destroy one another, before going in for the kill.

Dublinmick's picture

The Captain Is not a big fan of Newton. In  fact he is a wealth of information hidden from the west. Once the calculus and gold was stolen from India, thus began the march of western civilization and industrialization.,

The Dutch East Indian Company was in Calicut in 1602, parleying with our Zamorin.

Even before that in  1580 Matteo Ricci borrowed Calculus Malayalam texts from Calicut in 1580, never to return it. (those days there were no fax or photostat machines). Whish and Hyne stole Calculus texts from Trichur Temple Library a few years later.


They too calculus to Europe, from where the likes of Gottyfried Wilhelm Von Liebniz, Isaac Newton and Robert Hooke raced with each other to translate, re-invent in their own names, in a acrimonious manner.

 

http://ajitvadakayil.blogspot.hu/2011/01/isaac-newton-calculus-thief-cap...

Ghordius's picture

the Jesuit Angle is what you get on websites like VaticanAssassins.org

http://vaticanassassins.org/2012/05/02/notice-the-pope-is-the-worlds-def...

there you read that Tarullo is Jesuit-trained, which means he went to a middle school run by Jesuits (like yours truly)

there you can read that Ike was a Knight of Malta (no, I'm not, I declined the last offer), among many others

and so stuff like what happened on the anniversary of the -quote- infamous Battle of Lepanto -unquote, which seems to be among the Jesuit Conspiracy theories, according to VaticanAssassins.org

Guy Fawkes? The guy famous for the Guy Fawkes Mask? A Jesuit Conspiracy Terrorist trying to destroy England or Freedom Fighter against the oppression of religious minorities in the realm? You decide, you'll find both versions since centuries

Squid Viscous's picture

...both of the goys went to Georgetown at some point, hence Jesuit conspiracy!! I always try to be open minded but some of this stuff is too much to take...