This page has been archived and commenting is disabled.
Just What Is In The Fed's "Doomsday Book"?
The what? That's right: the Fed's "doomsday book" such as here...
During more than six hours of testimony, Mr. Geithner’s was not the only book introduced. The other volume was the secretive compilation of the Federal Reserve’s legal powers, known internally at the central bank as the “Doomsday Book,” which has never been made public.
Judge Wheeler determined he would let the editions into evidence under a temporary seal, until a hearing to determine whether they should stay that way.
... and here:
The “Doomsday Book” is essentially a private compilation of emergency measures that the Federal Reserve could take in the event of a financial crisis or other market-destabilizing event. The book has never been made public.
It’s existence of the book isn’t secret: Treasury Secretary Timothy Geithner references it in his recent financial-crisis book, “Stress Test,” calling it a catalog of “our actual firefighting equipment.”
But Fed officials have refused to release it, and Justice Department officials at a court hearing on Tuesday said the Federal Reserve Bank of New York wanted to keep the book under seal.
It appears the Fed's Doomsday book is quite extensive and has a lot of exhibits: at least 651:
Mr. Boies said he had obtained three copies of the Doomsday Book, likely under subpoena. One version of the book was published when Mr. Geithner was president of the Federal Reserve Bank of New York (referenced as Exhibit 7 during the trial). Another version (exhibit 651) was published in 2012, and – Mr. Boies said – he had also obtained a 2014 version of the Doomsday Book.
So which exhibit is this:
Geithner leaned on it, as much as he relied on TurboTax when calculating his taxes, when deciding what to do, although it is unclear if Geithner consulted the Doomsday Book when deciding to leak the Fed's market-moving, confidential rate-change decisions to Bank of America.
Mr. Boies casually mentioned that Mr. Geithner carried the book around with him during the financial crisis, to which Mr. Geithner quickly responded: “I don’t think I ever carried it around.” He added, “I was shown it at one point.”
“We did occasionally go back and consult it as things were eroding around us,” he said, though he added “I don’t think it would be fair to say I consulted it extensively during that period.” (In his memoir, Mr. Geithner mentions studying the book. “I was not particularly impressed,” he wrote.)
Not surprisingly, the near cataclysmic events from 2008 were even worse than the worst-case scenario foreseen in the book:
One reason he didn’t lean on the book, he said in his testimony, was because a lot of the emergency measures the Fed ended up using during the financial crisis were “outside the boundaries” of past government interventions and weren’t even in the Doomsday Book.
Ok great, so considering the US managed to "survive" the worst financial crisis since the Great Depression (if only for a few more months/years), then the very open, auditable and transparent Fed wouldn't be against sharing what is in the book, right? Wrong.
When Mr. Boies moved to introduce two of the editions of the book into evidence, the New York Fed’s own lawyer, John Kiernan, sprang up from the gallery to chime in: The Fed wanted the “Doomsday Book” kept strictly under seal.
So one wonders, as does the entire world since as the fate of everyone is now in the deus ex hands of the Fed's printer and the next global crisis is always just around the corner: just what is contained in the Fed's "Doomsday Book"?
»
- 27397 reads
- Printer-friendly version
- Send to friend
- advertisements -
Fed's secret agenda:
"Federal Reserve is able to contribute significantly to the expansion of crisis since the US government appears to be increasingly dependent on Fed's quantitative easing policies."
http://failedevolution.blogspot.gr/2014/02/when-system-threatens-with-ne...
It' s a flight instruction manual for helicopters.
Looks like the orange and black cube of Saturn to me
Happy halloween
What do you think?
Are the later editions of The Book getting more Doomsdayish or less?
(petrified minds want to know)
It is interesting that congress can not see this Fed document until its features may be implimented.
Found it on Amazon!
http://www.amazon.com/Satanic-Bible-Anton-Szandor-Lavey/dp/0380015390
Then I don't need it as I will never buy a damn thing from them. It is hard to see why Amazon has any fans when you consider how they abuse and exploit the brick and mortar stores that line streets throughout America. These are the stores that employ our family members, support little league teams in the community, and add value to our lives.
These stores build or lease space, buy supplies from the other local businesses, and pay both sales and real-estate taxes. While Amazon sends out the signal that their customers are smart, forward thinking, and upscale they exploit America and have an evil side, this is a side we should and must recognize. More on this subject below.
http://brucewilds.blogspot.com/2013/10/amazon-not-answer.html
I'll tell you what's in it. First page says here are the ways we will save ourselves from the guillotine, and second page says Fuck You.
It's called the Death Blossom and I hope Alex figures it out before the Ko-dan armada gets here.
Doomsday Book 2014 Update
(Burn after reading)
Chap. 1. Back the trucks up into position. Fire up the jets.
Chap. 2. Short everything in case there's a hiccup.
Chap. 3. Place Geitner, naked, on the corner of 5th and Lennox Avenue
Chap. 4. Tell Seth to hit the green EMP switch.
Chap. 5. Hunker down and pop the Te'te de cuvee'!
* We apologize this book is only five lines long. Paulson got 800 Billion for a two pager. We all need to work harder! See you at Rendezvous Rocky IV at O 100 hours. BYO!
What's in the box ?, that's easy, a purchase order for ink and paper.
ITS A COOK BOOK !!!!!!!!!!!!!
I think it also goes by the name "The Joy of Kosher Cooking".
If such a book exist I bet it says print to the point you hyperinflate away all past debt then issue a new currency. It means you would be cleaning away the slate with worthless money. That would be the logical endgame and avoid many of the problems that arise from unpaid debt or defaults.
I contend the primary reason that inflation has not raised its ugly head or become a major economic issue is because we are pouring such a large percentage of wealth into intangible products or goods. This includes currencies. If faith drops in these intangible "promises" and money suddenly flows into tangible goods seeking a safe haven inflation will soar. Like many of those who study the economy I worry about the massive debt being accumulated by governments and the rate that central banks have expanded the money supply.
The timetable on which economic events unfold is often quite uneven and this supports the possibility of an inflation scenario. A key issue being one of timing. If the price of gas jumps to $8 a gallon overnight do you buy gas and not make your car payment or stop driving the twenty miles to work? Answer, it could be months before your car is repossessed so you buy gas.
It is important to remember that debts can go unpaid and promises be left unfilled. If this happens where does it leave us? Chaos and major disruption would result from such a scenario. As we have seen from the economic crisis of 2008 and following many other unsettling developments legal actions can continue to drag on for years. More in the article below.
http://brucewilds.blogspot.com/2014/04/inflation-seed-of-economic-chaos....
"What to do if you're trapped under a huge boulder with no hope of rescue:
First, consider how lucky you are that life has been good to you so far. If,
on the other hand, life hasn't been good to you so far, (which, given your present
circumstances, seems more likely) consider how lucky you are that it won't be
troubling you much longer!"
Hitlers brain, a morgue box number, a scalpel and a taser.
It's a joke book.
Example:
A frustrated wife buys a pair of crotchless panties in an attempt to spice up her dead sex-life.
She puts them on, together with a short skirt and sits on the sofa opposite her husband.
At strategic moments she uncrosses her legs … enough times till her husband says… “Are you wearing crotch less panties?”
“Y-e-s,” she answers with a seductive smile.
“Thank God for that… I thought you were sitting on the cat.”
He never heard the gunshot.
Gold confiscation has already been done in the past . In order to solve an economic crisis, Roosevelt confiscated the physical gold privately owned by the Americans on 6 April 1933, refunding them very little after the crisis. The measure is still legally valid in extreme crises .
http://www.presidency.ucsb.edu/ws/?pid=14611