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Why Did The Fed Hold An Emergency Meeting Yesterday?
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."
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...
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And a tankard of rum for all you investors - tomorrow be Mayday.
We should thank Christ for that monumental O-bwana executive decision, otherwise we'd still be stuck in Afghanistan. Look where we are only three years later.
Or is it Pakistan? Right, we are in Afghanistan but the OBL mission went down in another country, not to be confused with James Baldwin's fagtansmagoric novel on life in Greenwich Village.
Turkmenistan?
No, no, Pakistan. Turkmenistan is where the ex-mossad agent is rumored to be running point on building that pipeline through a part of Afghanistan, you know, for the company Karzai used to head up before he became Pres of Afghanistan, but it has absofuckinglutely nothing to do with our presence there. Don't give it another thought.
So many reasons banks should commit fraud.
Keep cooking the books and diverting reserves to private accounts overseas. Then cry for another bailout.
Eric Holder said he would not prosecute the TBTF bankssters.
I wonder who the sacrificial lamb will be this time. BofA it was nice knowing you. The Morgue thanks you for your sacrifice.
It could be somebody unexpected. Imagine if it were JPM that were fucked.
Jamie would not let that happen, thats why he makes more money then us
BofA was never part of the club. Being based out of Charlotte they have always been an outsider and outsiders get eaten up.
No primary dealer will be allowed to die, Sir!
signed, Uncle Sam
(realize this, BofA(BAC) is $15 instead of $0.15, because it IS a primary dealer, BTW)
Yep, but there is no way The United States of America is going to allow Bank of America to go belly up.
They've been insolvent nearly 10 years now.
CONfidence Bitchez!!
One can hope! We do need a goat.
Ink shortage?
not ink or paper is in shoratage - au contraire - it's the buyers of the product...
They only react to "data". They're data-driven. They never open their eyes. They probably got their 0.1% "GDP" figure early and panicked...
Or, hopefully, they're out of physical gold to "lend"...!
Bofa Bitchez
Well if the board of governors determined that I don't need to know what they're doing, then it's good enough for me! Now where the hell is the remote? Zombies, sports, and Kardashians await!
Me thinks they will be suspending the taper, at least for a short period of time. Due to the bad weather, of course.
if they "un taper" the real economy is still collapsing, they will get the blame then
The usdx is tanking. Everyone get ready for the epic squeeze when Mr. Yellen doesn't deviate from plan.
It was obviously only a test, had it been an actual emergency the noise we are hearing would have been accompanied by an all time high in "The Market".
USD/CNY > 6.25
yeah...CNY is falling faster. They're probably wondering how they can devalue their dollar now that they're committed to "tapering"...!
Yellen's ass cheeks are firmly planted against two walls, ie, backed all the way up in the corner.
well considering the bredth of that ass, there may still be some space left behind.
They were just discussing wether they should buy the seat at the Gold fixing board of the LBMA.....why not...they do it anyway...
Banksters diverting reserves (deposits) and bankrupting a bank is the only way to go.
Like a corporate rader taking out captital. The Federal Reserve and the US government will cover any bank losses.
Just cook the books and enjoy your billions stolen from your bank on a nice southseas island you own.
Russia and China are up to something? Perhaps on 1 May they (Russia) announce they will accept gold and currencies other than or in addition to the dollar for oil/gas?
Interesting times indeed...
Say, I think May 1 is significant to (former) Commie Nations?
How about this?
1. Russia announces only gold or rubles for energy.
2. PBOC announces gold reserves of 10K tons.
3. Russia announces reserves of 10K as well ( shirtless Putin standing on big pile of gold bars photo op)
4. China dumps her Treasuries at fire sale prices.
5. Saudi along with Iran, announces they will accept all major currencies for energy - but gold gets 10% above spot preference.
6. Germany and Finland announce they are leaving the Euro.
7. The FED schedules an emergency meeting...
Everything you need for a great Movie of the Week!
All that is NOT necessary. Putin need only announce that ANY currency, EXCEPT the U.S. dollar, will be accepted for Russian gas and oil.
"If the U.S. dollar crashes in the woods, does it make a sound?"
BET you the meeting report announcement is delayed...!
BET "The Market" goes down 400 on the Dow if you are right.
Won't matter. It'll just go up 600 pts the next day when they announce the new adjusted unemployment numbers are actually 100,000 more than they had thought.
after we find out that there was something germane to the public interest and they should not have had the right to keep the meeting closed - what happens? exactly....
laws are just for non-government servants - the debt servants....
Oh well fuck. I'm smoking dope and hitting the 4wheeler and going mushroom hunting. I'm taking a roll of toilet paper in case I have my own emergency.
It's too far out of hand to try and make a difference. We'd all be better of the sooner tshtf than letting these clowns drag us to tent city in slo-mo.
Excellent direction. ON it!
BTW.... fuck Yellen? No thanks. I don't do men.
Was the meeting for a spontanious orgy? Of for just an in between satanic ritual?
The NSA accidently put the meeting video up on its website and now it's on youtube.
http://www.youtube.com/watch?v=dsx2vdn7gpY
Here's an audio "Sterlingly" taped of that said meeting....excerpts...
Yellen: "Printers up and working?"
The 3 Other Stooges: "Yes" (in unison)
Yellen: "Very well....get ready to ink out the fuckin sun...set the controls for "Lunatic Speed".
Stooges: "Already done..."
Yellen: "Good. Now,...who has the lox and bagels?"
Stooges: ...silence.......
Yellen: "What the flying fuck are you good for?!!"
Goldman wants to know if the Fed has a bid for a Chinese $200bln UST bond offer and London wants to know how to fill a bullion order of the same size.
Goldman is the Fed
Oh. When were they annexed?
Why do the people tolerate a private banking cartel to set monetary policy, where no such authority exists for their existence to do so.
The sunshine act only applies in the territories. 5 usc is administrative code.
To HEIMAN VAN ROCK:
You said, "Why do the people tolerate..."
My question to you is why do YOU tolerate it? What concrete action have YOU taken to stop them? I have news for you: there is NO "white knight on a horse" standing buy to save us!!!
If EACH of us, as individuals, takes NO concrete action, then we deserve what we get! What would our ancestors thought of us? What will our descendents think of us?
Maybe, C-O-W-A-R-D-S
Maybe GS informed them they plan on selling 1000 shares of their SPY holdings and freaked everybody out.
<<< BCS everything is just effin great
<<< BCS Yellen is staring into the abyss
Yellen just wanted to gather up all the mens room keys and these 3 had not turned theirs in. She also informed them that from now on the ladies rom is off limits.
When to they take the traitors out and hang them? Greenspan, Bernanke, Yellen, voting members, bank boards, CEOs, et al.
To BrigstockBoy:
You said, "When to they take the traitors out and hang them?"
Just WHEN are individual Americans going to realize that there is NO "they". There is NO "man on a white horse" ready to ride in and save the country. There is only US, the PEOPLE as individuals. WE are "they" - and unless EACH ONE of us actually takes action on HIS OWN without waiting for others, then only destruction and ruin await America.
As for me, I am certain the American people will do NOTHING !!
--- Jack
My guess here, is that either Putin or Obama has decided to ignore orders from their handlers and escalate the conflict in Ukraine to a shooting war.
This has every chance of tanking both the stock and bond markets simultaneously. They're trying to come up with a coherent response to that. They will fail, of course.
Please can't someone in the military move in and arrest those crooks.
caption contest:
~~~~~~~~~~
ok, boys, here's tomorrow's GDP print.
what the fuck do we say now?
We say its 0.1% UP rather than the reality, which is contraction.
They met to discuss damage control measures because of the horrible Q1 GDP number.
Bitcoin!
Not Bitcoin but probably "new coin"
you can bet these guys are meeting in secret to discuss their plans for fleeing the country (and fleeing Japan and fleeing Europe) when the "sudden stop" deflationary collapse takes hold.
Flee to where? They would have to go to another star system to escape what is coming.
Because they saw the GDP number is my guess. Needed to all agree to buy stocks now that they realize buying stocks does not actually help anything.
I only clicked on this article to read the comments (thanks to all ZHers for giving me a few laughs amongst all this criminal activity). And to add a quick
END THE FUCKING FED!
FTR I think PlusTic got it right. After they discuss bowl size they might get around to the GDP and the Ukraine war.....maybe that tapering stuff should be put on hold - indefinitely. The patient is not only still in IC, he has just had to be put back on the breathing app.
The man on the moon.
Yellen is the fucking bagholder.
This is going to get uglier than Yellen itself.
Keep printing bitch!!!!! It's your only option that you can think of.
So, why else do you think The Bernank went back to his ivory tower?
Jesus Christ!
Just look at the face and it foretells what is around the corner!
Won't even matter if they throw Janet under the bus at this stage....
"Ironic, because nothing the Fed does is in the public interest. Or, to be specific, 99% of the public..."
Classic.
The orcs need WWWIII rocking right now to mask the collapse that is occurring.
The emergencies are gonna be about the gov pensions. Keeping them from tanking is key to the monopoly of force. The fed needs to leave the states as bag holders. They cant stop the collaps but they can control who it falls on. My guess is the fed needs it to fall on state and local gov.
Just so ya know the feral are predicktable.
The "Emergency Meeting" was searching for Bobby Fischer...
Hosebag, thy name is Yellen.
Let get this Boy to a 10 Hours/Day JOB for a 8 Hours Pay. Just pay him a 1 Green Bill it which says $100 and ask the IRS to get 45%(33% Income Tax + 12% Self employment Tax); He will be good for us for some time!!
Something tells me we're getting closer to a SHTF moment.
Tarullo called the meeting to find out why no Gentile has been appointed as Chair for nearly 30 years, and won't be for another minimum of 8 years.
That would be nearly a half century of Jewish control of the FED.
He stated that if the last three chairmen were named Tarullo, DeGrazia, and Gotti that the world press, ALL media would have by now informed the world that the Sicilian Mafia is running the U.S.Government, Treasury and the FED with tentacles in Defense, Roads, and Health care insurance and calling for Impeachment of the entire government.
(bet WB7 has captured that hermaphrodite for a near future pictograph)
The 4 governors spent the entire "emergency" meeting yesterday browsing Zerohedge for advise and feedback on their policies. I'm sure I've talked to one or two and they were quite surprised to learn what I had to say.
HEY TYLER,
Check out EU repo rates & Libor. THey are creeping up. Repo is blowing up. Maybe, that's why... And if someone knows why thsese are creaping up (indicators of liquidity in the money flow, etc, pls speak up...lol. )
http://wsj.com/mdc/public/page/2_3020-moneyrate.html
Discussed the May 1st Silver yearly smackdown plans
Has anyone actually counted how much bonds they bought in April? It's already more than 60 billion.
They're waging economic warfare against Russia (how do you do that, you crush oil & gold) Russia is being squeezed, so capitalize and buy ____________, gold & oil will be crushed for the indefinite future.
Time to grab your gold and get out of Dodge !!!
Again, "There ain't nuthin uglier than an old white woman." Fred Sanford of Sanford and Son
.1%
Nervous, Yoda is.
Listening to this guy speak makes me want to pull my hair out!
Shoot the bastards. Nothing less will solve the problem.