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Stephen Roach Warns: "The Fed Is In Total Denial... On What It Put The World Through A Decade Ago"
Having previously warned that The Fed's "fixation with the markets has created a deadly trap," and recently noted that "Central Banking has lost its way," Stephen Roach unleashed a few minutes of painfully honest truthiness on an unsuspecting Kelly Evans at CNBC. The brief interview reiterates Roach's previous comments, as Tim Iacono notes, that "it didn't have to be this way." The Fed "is in total denial," Roach rants, adding that it "hasn't learned the lessons of what it put the world through a decade ago."
Roach in 2005 (via Morgan Stanley):
"It didn’t have to be this way. The big mistake, in my view, came when the Fed condoned the equity bubble in the late 1990s.
It has been playing post-bubble defense ever since, fostering an unusually low real interest rate climate that has led to one bubble after another.
And that has given rise to the real monster -- the asset-dependent American consumer and a co-dependent global economy that can’t live without excess US consumption.
The real test was always the exit strategy."
Nothing ever changes...
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http://finviz.com/futures_charts.ashx?t=ZB
Bull Market.
Bull[shit] Market
No, bullshit Jedi mind tricks. (Remember, "these are not the droids you are looking for"?) To say the Fed "hasn't learned the lessons" from a decade ago assumes everyone at the Mariner Eccles building is stupid. I assure you they are not. They learned the lessons very well, and are now putting those lessons to the test. Just because YOU don't like the results does not mean THEY don't.
The people at the Fed are puppet/traitor/scapegoats-in-waiting because they persist in doing what the owners of the Fed want them to do, which is unconstitutional.
Could have stopped at "The Fed is in total denial." Sayin.
The Fed thinks they did the right thing.
From a certain perspective, they did.
Just because their plan looks evil and/or twisted to you does NOT mean it is without merit. It just depends where you make your bed.
The Devil you say.
When you look at what they have done through your moral relativism, where right becomes wrong, and wrong becomes right, then anything goes.
Unfortunately for them the moral hazard will catch up...
http://www.huffingtonpost.com/2015/01/09/macys-closing-stores-2015_n_644...
Sounds "Robust" right?
I have been in denial since 1999. I refused to believe that the FED could prop up a stock market as long as it has. It has cost me a ton of potential earnings. Fortunately, booze is cheap, I don't need to worry about piss tests, and my bamboo bong still holds a seal even though sesimillian is really hard to find without registering and potentially losing my gun rights. Buzzzzzz
John Lennon wrote: "God is a concept by which we measure our pain."
What he meant was we view G-d through our own experience. When times are good, it is because G-d is good. When times are bad, G-d is bad.
Given this model it is clear who is actually placed at the center of the universe.
And so it is with the FED. When we make money, the FED is good. When we lose, the FED is crazy and the world is going to end, so everybody better get after the FED.
Steve is suffering from this right now. Whatever your personal situation is, it has no real world impact on the FED or the state of the world whatsoever. Your losses are your losses.
So Steve, prepare to suffer. Take up drinking or cheat on your wife, if you think it might help you.
Even when times are bad the Almighty is good.
God is good...ALL OF THE TIME.
It is humans that either reject His divine plan or accept it...regardless of the circumstances.
On a long enough timeline your god will be forgotten....
https://www.youtube.com/watch?v=KenuH94YKaE
A world wide resolution trust corp. scenario would not have worked. Too much politics among other corrupt activities.
It is clear that there were 2 choices in 2008:
1. Write down assets / massive bank failures world wide / reset sanely and calmly
2. Kick the can down the road through the use of QE
Of course 1 implies sanity and calm. The majority are not capable of that.
#1 could only happen if TPTB acknowledge their policies failed. In the mind of a sociopath, failure is never an option. That's why a sociopath will sacrifise everything and everyone to maintain the illusion that they are always winning. #2 was always the ONLY option for a sociopath.
moral relativism, exactly put Tall Tom.
That was the flaw.
The fed knows what it did to create 08-09, and it understands what it's doing now.
The key here is ask yourself: Who does all this cheap money benefit most?
And therein, lies the answer. The fed doesn't care about the general economy--it's mandate is to increase the wealth and power of the elites...Yes, now it all makes sense.
Dollar at the highs of the decade, market at the highs of human history, cost of borrowing at basically all time lows...
What is wrong exactly?
Really, Who benefits from that?.. better yet, who doesn't?
Since less then 3% of the American working class makes over 75K a year, does if help the 97% to have a strong dollar? Does a FED rigged market help the 97%? Does the 97% who live paycheck to paycheck and is maxed out in debt get to take advantage of low borrowing cost? Does the college grad student with 90k in student loans reap those wonderful rewards? Unless being corn-holed and vaseline are considered a benefit I'm hoping you're being sarcastic. The list can go on and on.
How about the roughly 47 million people on food stamps? How about the cost of food inflation? How about the 18+ trillion in national debt?
Wealthy people don't have to worry about a strong dollar or low borrowing cost. Its irrevelant to them, and well a high market.... that's a side show game for them.
Now you tell me what you think is wrong with your statement?
I work for the wealthy, or, until I retired at 62, last month, and I can say that the 2 percenters, cant sell their homes, and so are being bled and ageing expensively, and unless the stock market or bonds are giving them enough, they will be heading off cliff also. I am not one of them.
That is very right; no-one seems to be talking about that. Yes, it seems that zillion-dollar apartments in NYC and houses in SF are selling well. But the next level down, at least in New England, is sitting and sitting and sitting on the market. No-one is out there who can afford to buy those places at those asking prices; the next generation of near-high end RE suckers doesn't exist. If those owners haven't made up for it with investment gains, they are in bad shape.
No rational allocation of capital. And capital (money) is being created too quickly.
facade...
...my elderly buddy (now passed away), California.
House paid for, small social security, retirement check from the utility company and $100k in CD's in the 70's which he completely lived off of.
We could easily argue those dollars were MUCH more valuable than any dollar today. stock market value...irrelevant...cost of borrowing..how about this, the cost of borrowing is LOW because that's what the FED HAS TO DO to get you to take their paper!! That's not a positive consequence.
What's wrong:
lowest labor participation rate since 1977
declining wages
record high consumer debt
$18 trillion national debt
cost of housing at record highs
cost of food at record highs
highest wealth gap in human history
"The Fed thinks they did the right thing."
The Fed KNOWS it did the right thing (for the Fed).
Their goal all along is to shut down the "middle class", and they are right on schedule. We must stop attributing good intentions that "went wrong" to our enemies!
I want my rebate!
I repeat, its all about demographics. The FED policy is designed to take the most amount of wealth from the most amount of the population. That is the old and grey. Keeping rates at zero means that seniors must work and prefereable spend their savings to live. This is opposed to the dream of living off of bond interest to fund your retirement.
Right on Money.
The end is nigh if the massive drop in average hourly earnings trend continue. Not matter which end of any scale you are in for the group of the 97%, every time you commit your labor for currency YOU are rapidly losing ground to the top 3% (including the govt.) and therefore we will all conclude that it is not worth it to keep going to work. At that point the 97% will either go Galt or will find creative ways to avoid being paid in taxable income - which would be the most practical way to bridge the lost earnings gap.
At that point govt tax receipts go down and it all becomes very unstable because the eaters free ride will be in jeopardy. The govt will then determine which group needs to be saved via re-education camps. Since the eaters like the govt it will be the 97% targeted for re-education.
Economy rapidly implodes, DHS get shot at a very high rate during the roundup, Mr. Yellen speaks to calm markets and nobody listens because the great reset has now begun.
I believe 6-9 months of drop in average earnings will trigger this scenario.
Good luck to all
Yet that attitude still does not justify their actions.
History if full of evil outcones from people that thought they were doing the right thing.
"The Fed thinks they did the right thing
The private banking cartel known as "Central Banks" did do the right thing when you consider it in light of who's interest they serve.
Us, not so much.
The Dumbed Down American Masses are in DENIAL for allowing the FED to exist!
Thomas Edison was reported to have asked:
"The Federal Government can print and issue money directly, so why do they need a middleman?".
They aren't stupid nor in denial. This is the plan. Just as it always has been. Create money out of thin air. Buy assets with said money collecting interest, moving markets and sustaining the Ponzi scheme until the bubbles are large enough to create destruction and then pop said bubbles. The handlers though the course of deflation sweep up all hard assets at pennies on the dollar. The cycle ends and then through the course of inflation milk what’s left from the sheeple.
I do think this time is different though. The bubbles being blown so big that when popped this time they will try to reset the globe. Through governments and media they will shape the mind of the sheeple to call for a global centralization. For the good of all of course.
The simple truth of CNBC?
They must be scared shitless about those Nielsen ratings.
They were. So they don't use Neilsen any more.
CNBC is TOTALLY missing the boat. They should run with the "scare the shit out of investors" meme that has made ZH so popular. Sure they couldn't get an interview with Uncle Warren, but who gives a rat's ass, ratings would soar!
Ratings soar
Sponsors bolt
This fool actually believes the Fed is all about 'the health of the economy' ?
The Fed's mission is to enable the banks to profit through inflating the money supply, and to then put the consequences of that on the backs of the public when it all eventually comes crashing down. Their main products are smoke&mirrors and bullshit in abundance.
But the bankers didn't realize what they're doing ? ............ LoL.
About what you'd expect from one member of the Ministery of Propaganda - CNBC.
The FED is about asset inflation
Who does asset inflation serve most? Those with the most assets.
Chinese Lunar Year Gold Buying Frenzy Started
https://www.bullionstar.com/blog/koos-jansen/chinese-lunar-year-gold-buy...
exit strategy - how naive
Maybe the strategy is, "we (you and me) exit, when they (Fed) own everything"
that's just it. the fed will own it all someday. talk of an exit is laughable. the only question is how long before qe starts again and again and again and what shape they will take.
The purpose of the Fed is to make a few people much much more wealthy than everyone else, and it has, and continues to be, enormously successful at that. Stephen Roach is just another paid shill who is paid to blame the Fed as a scapegoat distraction from the real criminals, the bankster owners of the Fed.
Rinse and repeat...the same fucking shit since 1913. They know what they put the world through. The problem is NO ONE has stopped them.
Glass-Steagall was the bump in the road for them so that is why they did everything in their power to destroy it. It's the Corzine way now.
The fed has been very successful in serving their owners and true goals. The transfer of title/assets and maintaince of power and control...
The potential problem is the fact that many (even some who thought they were in "the club") are seeing that this is in fact a "let the majority eat cake" monetary experiment. None of the fraud was addressed, there has been no retribution etc.
I don't see how this ends any different than it did the last time.
real Woar starts when the millionaires revolt against the billionaires
So true. I've always said you will realize the end is near when TPTB start feeding on each other. Sociopathic bankers appetite is never satisfied. So when TPTB have stolen all the easy money and assets from the sheeple, they have to look at each other. Just like a Mafia family.
probably will be the best indicator of when the SHTF, when these two groups drop the gloves but it'll be quick and hard to react to.
I don't see how this ends - 20 years depression or ww3
Why not both?
Yes.
A huge depression is the neccessary result of this, a result of the inevitable debt default spanning the world. Hopefully we can avoid war , but dying empires tend to live in denial, and this can lead to a lot of violence, especially when the regime in charge of the dying empire has a gullible populace who will direct all their anger at the scapegoats the regime chooses(sound familiar?)
Our "business and government leaders" all keep this under their pillows at night:
JOSEPH GOEBBELS
1897 -1945
German Nazi Party member Joseph Goebbels became Adolf Hitler's propaganda minister in 1933, which gave him power over all German radio, press, cinema, and theater.
In 1925 Goebbels met the party leader Adolf Hitler. In 1926 he was made Gauleiter, or party leader, for the region of Berlin, and in 1927 he founded and became editor of the official National Socialist periodical Der Angriff (The Attack). He was elected to the Reichstag, the German parliament, in 1928. By exploiting mob emotions and by employing all modern methods of propaganda Goebbels helped Hitler into power.
His work as a propagandist materially aided Hitler's rise to power in 1933. When Hitler seized power in 1933, Goebbels was appointed Reichsminister for propaganda and national enlightenment. From then until his death, Goebbels used all media of education and communications to further Nazi propagandistic aims, instilling in the Germans the concept of their leader as a veritable god and of their destiny as the rulers of the world. In 1938 he became a member of the Hitler cabinet council. Late in World War II, in 1944, Hitler placed him in charge of total mobilization.
As Reichsminister for Propaganda and National Enlightenment, Goebbels was given complete control over radio, press, cinema, and theater; later he also regimented all German culture. Goebbels placed his undeniable intelligence and his brilliant insight into mass psychology entirely at the service of his party. His most virulent propaganda was against the Jews. As a hypnotic orator he was second only to Hitler, and in his staging of mass meetings and parades he was unsurpassed. Utterly cynical, he seems to have believed only in the self-justification of power. He remained loyal to Hitler until the end. On May 1, 1945, as Soviet troops were storming Berlin, Goebbels committed suicide.
Listed below are the principles purported to summarize what made Goebbels tick or fail to tick. They may be thought of as his intellectual legacy. Whether the legacy has been reliably deduced is a methodological question. Whether it is valid is a psychological matter. Whether or when parts of it should be utilized in a democratic society are profound and disturbing problems of a political and ethical nature.
GOEBBELS' PRINCIPLES OF PROPAGANDA
Based upon Goebbels' Principles of Propaganda by Leonard W. Doob, published in Public Opinion and Propaganda; A Book of Readings edited for The Society for the Psychological Study of Social Issues.
1. Propagandist must have access to intelligence concerning events and public opinion.
2. Propaganda must be planned and executed by only one authority.
a. It must issue all the propaganda directives.
b. It must explain propaganda directives to important officials and maintain their morale.
c. It must oversee other agencies' activities which have propaganda consequences
3. The propaganda consequences of an action must be considered in planning that action.
4. Propaganda must affect the enemy's policy and action.
a. By suppressing propagandistically desirable material which can provide the enemy with useful intelligence
b. By openly disseminating propaganda whose content or tone causes the enemy to draw the desired conclusions
c. By goading the enemy into revealing vital information about himself
d. By making no reference to a desired enemy activity when any reference would discredit that activity
5. Declassified, operational information must be available to implement a propaganda campaign
6. To be perceived, propaganda must evoke the interest of an audience and must be transmitted through an attention-getting communications medium.
7. Credibility alone must determine whether propaganda output should be true or false.
8. The purpose, content and effectiveness of enemy propaganda; the strength and effects of an expose; and the nature of current propaganda campaigns determine whether enemy propaganda should be ignored or refuted.
9. Credibility, intelligence, and the possible effects of communicating determine whether propaganda materials should be censored.
10. Material from enemy propaganda may be utilized in operations when it helps diminish that enemy's prestige or lends support to the propagandist's own objective.
11. Black rather than white propaganda may be employed when the latter is less credible or produces undesirable effects.
12. Propaganda may be facilitated by leaders with prestige.
13. Propaganda must be carefully timed.
a. The communication must reach the audience ahead of competing propaganda.
b. A propaganda campaign must begin at the optimum moment
c. A propaganda theme must be repeated, but not beyond some point of diminishing effectiveness
14. Propaganda must label events and people with distinctive phrases or slogans.
a. They must evoke desired responses which the audience previously possesses
b. They must be capable of being easily learned
c. They must be utilized again and again, but only in appropriate situations
d. They must be boomerang-proof
15. Propaganda to the home front must prevent the raising of false hopes which can be blasted by future events.
16. Propaganda to the home front must create an optimum anxiety level.
a. Propaganda must reinforce anxiety concerning the consequences of defeat
b. Propaganda must diminish anxiety (other than concerning the consequences of defeat) which is too high and which cannot be reduced by people themselves
17. Propaganda to the home front must diminish the impact of frustration.
a. Inevitable frustrations must be anticipated
b. Inevitable frustrations must be placed in perspective
18. Propaganda must facilitate the displacement of aggression by specifying the targets for hatred.
19. Propaganda cannot immediately affect strong counter-tendencies; instead it must offer some form of action or diversion, or both.
"A huge depression AND POLICE STATE is the neccessary result of this" - fixed if for you. The only way this progresses is with a world wide depression that leaves the masses literally starving in the streets. When bread and circuses fail, and people are desperate, revolutions happen. So TPTB have to implement the Police State to control the sheeple. The problem is sociopaths are never satisfied. So one Police State will eventually covet and demonize another Police State. That's how World Wars start.
20 year depression?
I wish I had your optimism.
"......The fed has been very successful in serving their owners and true goals. The transfer of title/assets and maintaince of power and control..."
Exactly Correct....
= the Primary follow on Point to that:
Participants are thus Responsible for their own Positions in Markets, as the FED is not there to Protect or Advance their Interests.....
=
Caveat Emptor.
For those who truly Know What they are Doing in Markets, the FED is therefore irrelevant.....
Equally Correct is that No Malfeasance has been addressed.......
Thus indeed, it will NOT be any "Different This Time":
Past is Prologue........
Push will come to Shove as it Always Has, and Always Will.....
Mathematics and Human Nature Never Change......
The only thing that I see making it a little different is that the electronic age has enable us to keep a very clean record of precisely who the actors were in the greatest fraud ever.
Once a few more inteligent people with the proper know-how simply decide to check their own morals at the door they might just go hunting for yield as it were.
Change is the only constant, but these criminals are simply not as "untouchable" as they think they are.
The FED is owned and operated by GS and what GS wants GS gets....
A statement of the bleeding obvious.
How has this been allowed on mainstream TV.
Because it's time to start making excuses so your hopefully not guest of honor at a necktie party...
their ratings are so low, their credibility shot -s desparate measure being taken -telling a little truth.
Translation: "The FED is a duplicitous gaggle of equivocating bankster lackeys."
The FED is an arm of a malevolent privately owned global criminal enterprise who will not be satisfied until we're all living in old oil drums and eating bugs while they're living the effendi life.
Roach roastin' the FED on their own show. How was there not a sudden "outtage"?
It is as planned and about to begin in Europe...it's called "transfer of future wealth to the friends of the cenral banks"...and yes, it did have to be this way because they can!
His expression when she mentions macro-prudential tools.
A picture that paints a thousand words.
I thought he was gonna puke, hen she asked that.
Look at the little smile tha spreads across his face when Kelly talks about the Fed making policy moves specifically targeting (for example) "biotech stocks or the loan market".
Instead of calling it "macro-prudential", why not call it "Castro-reverential"? Central planning by another name is still central planning.
What really pisses me off is that that blue banner is blocking my view of her legs!
http://tvnewscaps.mxf.yuku.com/topic/8006812/Kelly-Evans?page=1
http://tvnewscaps.mxf.yuku.com/topic/8006812/Kelly-Evans?page=1
"30 year at 2% and falling while the economy improves"
What a stupid bitch.
Well, it would be nice to see somebody ram their cock down her throat. But, this program is rated G.
That would most definitely stop her from asking any more stupid questions.
G as in Geezus where is the remote.
Are you trying to bait someone into saying cock-Roach?
+100000 - cleaining computer screen - again. he he heeeee
If he wasn't a shill he would
have walked out when she mentioned "economy improving"
Just say it...The Fed and federal government condoned it all. They have people in these banks - every one of them. They watched it all happen because it was the politcally correct thing to do. Its happening again today! Ever hear of subprime auto loans? Extrapolate!
Sorry, no time to watch it. I'm too busy BTFD.
I will take time out to comment though.
With interest rates at essentually 0 all it can do is have people like Evans, Bullard, Williams and Yellen come out and talk up stocks.
Never before in the last 40 years has there been a FED promoting stock gambling. It's reckless so they must realize it's the end of the game.
I just went long pitchforks, rope, and oak trees. And I just shorted central bankers...
Though I'm not in denial about the 'markets', the one thing I do recall about Roach, he was always (or almost always) wrong. Next...
Yes. Denial. 9/11.
Smokin a Roach.
https://www.youtube.com/watch?v=VrJwm7nq-E8
The chick says "Right. Right." to everything he says because she's not listening. She's just formulating her next question about why he is wrong about Fed interventions.
I swear, when she brings up the macro-prudential tools, he's about to turn and barf.
Fuck the University of WI and Madison. Fuck the Badgers.
Busted!
The Global Economy can 'live without excess US consumption', but
the greed based American ruling classless klept-O-crats cannot. This
canard of dependency upon the American superstructure of greed and hubris is old, tired, and worn out. American Central Planning bureaucrats have fixed the game to their disadvantage and every single country in the entire World is waiting with baited breath for the hegemony of the USA to be destroyed along with the klept-O-crats that initiated it over the last five decades. The Council on Foreign Relations miscalculated the calculus and the result is certain death for Americans en masse. The reality of America's demise is upon us and the embarrassment on the part of American 'Economists' is that they have failed to understand, or comprehend, basic elementary mathematics.
NOTE: American Exceptionalism gets a failing grade of 'F' on their
International Math Exam and the rest of the World is wondering when Americans will stand in the corner with their well earned dunce cap displayed so all the World can mock and deride a nation that has gone to the dogs on the World stage of elementary mathematics. You failed America, now it is time to admit it to yourselves before it is too late.
NOTE-2: I am not addressing any Americans but the ruling classless
klept-O-crats in the 1% American hegemony. I respect the Americans on Z/H and I am NOT refering to you in my rant.
It really doesnt matter what they, the fed, says or does anymore, the damage is done and there is but one way out. I said it on ZH yesterday and will say it again. the market will continue to rise(the dow, s&p, nasdaq) until the dow is around 22k, i think 21 to 22k anyways, once it hits 22k it will all come tumbling down and it will be 10 times or more worse than 08. I believe this will be around September, i have my reasons for that month which dont matter here but folks, and i know most of you will probly agree, but those who think this is going to continue for ever and ever is just wrong. you got about 7-8 months to prepare so get to it. Me, i'm already ready and just sitting back and watching the chaos unfold. Good luck ZH folks.
I also believe in that September time frame. What are you planning on shorting going into the take down?
the fed did what it was suppose to do and continues to do the same. why would anyone expect it to do anything different? and expect a different result?
personally, it is kinda funny. computers and the internet have allowed the construction of the possibly perfect money system where every transaction is digital and every transaction, no matter how complicated is as easy as handing money to the mcd counter person, complete with the occassional fat finger.
the monetary system is just one big fat quant model that only has to clear within a reasonable deviation from flat to run like a top. regular maintenance and replacing worn parts is all that is needed but a kid with a hot car has to bore it out, air it out and turbocharge it to bring it to within an fn 2% risk ratio where a simple temporarily clogged injector would cause it to sputter to a stop.
pure comedy really. this is naivete
this is nefarious, evil, selfish purposeful activity.
P < P + I
The Fed is out for ....the Fed and their friends.
Do you think the money managers have a problem with Yellen? Nope.
The FED CANT RAISE rates....Yellen suggests they will, then a board member says they wont...games games.
If the FED raised rates, it would bust the Federal Budget...for they have enabled massive deficit spending.
Additionally, they now have everyone long debt and the paper loss would kill so many if they raised rates just .5%
I keep hearing this argument, and it still makes no sense. The FED has to raise rates to accelerate the pop of Housing Bubble 2.0. Lowering RE fixed costs = greater consumer spending. As for busting the gubment, if they raise rates but increase bond buying through back channels (Belgium Monetization if you will) that phantom interest actually IMPROVES .gov's balance sheet! It could also help with food and commodity inflation by making futures markets more risky through a stronger dollar/increased borrowing costs. The only way the FED brakes the gubment is by NOT raising rates and keeping capital chasing bubble returns instead of funding real enterprise.
There are lots of ways to pop a bubble besides raising rates. For example in real estate, require 20% down.
*POP*
Raising rates BKs the government and ends all kinds of games immediately.
That's not happening.
Raising rates BKs the government
No evidence for this thesis if debt monetization continues. If you're paying the interest to yourself it's an accounting gimmick that actually HELPS .gov bottom line. And the FEDs lending rate and the rate on Tresurys don't move in lock step. A number of factors can keep Tresury yields low while the FED rate rises.
That's cool as long as greatly accelerating printing and BKing everyone who can't print is OK.
So there goes your tax base and when the government goes to pay with what amounts to mere paper, who will supply them?
How is this any diffrent from what there doing with rates at zero???? It's all an accounting gimmick. Either way your monetizing the debt. Atleast with higher rates you can stop the food inflation.
The people on CNBC are a part of the "show". It's not like they don't know what's going on. They are only surprised when a guest goes "off course" but they know full well what kind of "stock market" we are working with.
In 2000 there was a 7-month topping period from March through September. In 2007 there was a 7-month topping period from May through November. We started this topping period in November...expect the correction to begin in earnest in May...prepare to GO AWAY!!! The 2000 correction took 26 months...the 2007 correction took 16 months.
The CReature from Jekyll Island is about to be neutered. The ineptness of the Fed will eventually be obvious to all.
http://www.globaldeflationnews.com/the-creature-from-jekyll-island-the-e...
Lets put things into perspective with an open mind(no, i am not a FUCKING LIBERAL). The usd is at a 10 year high, gas prices are cheap as fuck, 0% rates, market at all time highs. And the market just gave you the trade of a lifetime in shorting shale oil stocks. I know I took advantage of that. I have a great job, I am motivated to take advantage of this market and play the hand i am dealt, i have no debt, gas is a helluva lot cheaper to fill my truck(cut in half), i can buy more with the strong dollar and if i travel overseas, i am live like a KING with the strong usd. So, my advice to everyone on here is to stop being so negative and bitching all the time, and instead.... be more motivated to succeed. Always bitching and crying and living like the world will end tomorrow is a sad and depressing way to live. With that being said, I am enjoying my UVXY that I bought into the close of yesterday and expect a big down week into opex. Then of course, it'll be time to take profits and let the fed pump it back up and then re-evaluate.
Cheers mates
Yeah, I think I'll tell my 89 y.o. neighbor to be more motivated to succeed; she can't afford proper heat because she earns nothing in interest on her life's saving; or my 71 y.o. relative who is in the same position (I send her money so she doesn't freeze); yeah, they should have a better attitude, that's the ticket. Oh, and they should get a great job, like you have (actually they worked all their lives, funny that), and start trading, like you do. Right.
The bitch realy believes here own bullshit.
Armed Resistance wrote,
“I just went long pitchforks, rope, and oak trees. And I just shorted central bankers…”
Bad idea. You should go long First-Amendment assemblies.
We do not need a routine slave uprising: they reach the limit of their suffering; roam streets and countryside looking for anyone and anything remotely related to oppressing classes (Judeo-Bolsheviks, central bankers et cetera); perpetrate random slaughter and plunder of such classes; after a few weeks, peasants exhaust their fury and hurry back into their status as slaves.
We need a better alternative: an intelligent revolution: one that advances the cause of liberty, not tyranny.
We need to duplicate what American founders did, minus their mistakes. Americans have the same power Founders had, but they refuse to use that power. There are three main reasons for this failure: one is that Americans have no knowledge of such power; the second, they’ve been herded into a kind of impotent stupor by medication and indoctrination; the third, that they aid, benefit or are/were complicit in such evil.
There’s a remedy for all three of these failures: 1) learn, and use, the law and procedures of redress (full article); 2) follow a health regimen that has REDUCED – not slowed – my biological age 50 years (it also un-does the damage done by medication and indoctrination); and, 3) see number one.
This health regimen has given me the coordination, health and physical condition of a professional athlete around the age of 20; I’m 70 years of age (for validation, video and webpage – each leads to the other).
Not only do Americans not use such power, they also know practically nothing about IDEALS won/confirmed by the Revolution.
For example, Founders repeatedly declared that “no man is obligated to obey any law or pay any tax unless he has given consent to it”. Did they mean this literally? Of course they did. From the first English settlement to the Revolution this was how affairs of the colonies were managed. Every “law” and every “tax” had its origin in contracts between colonial assemblies and those who petitioned for redress of grievances. The terms of the contract were sometimes referred to as “laws” of the contract while its money payments were treated as “taxes”. And only petitioners were obligated to obey such “laws” and pay such “taxes”. When redress was completed, related “laws” and “taxes” expired.
There, in one paragraph I conveyed to you more real history than you learned in 12 years of elementary and high schools, and 4-6 years of university indoctrination. You won’t learn this and other lessons from professors, or judges, or lawyers; the first two depend on continued grievances for their pensions, the third never learned such history, or law.
This right of consent was won with the Revolution… and who knows it?
And yet all that could have failed if the colonists were unable to deal with the redcoats on their doorsteps.
No stick. No change. Because the status quo always carries one.
“No stick. No change.”
Very true. But you overlooked something: if you use the big stick based on ignorance, “No change.”
The big stick, in other words, must be directed by intelligence: that is, the militia must be controlled by First-Amendment assemblies. Such assemblies were the engine that produced the Revolution; they raised armies, money, sent ambassadors to foreign nations and everything else needed to win the Revolution.
So, without intelligence, all you have is another ordinary slave uprising… slaves BEFORE, and slaves AFTER such uprising.
Really, isn’t there a better alternative?
No argument.
AGAIN in FRANCE:
Police: 2 hostages being held in southern France, MONTPELLIER
Latest
http://tersee.com/#!q=Montpellier&t=text
latest on Paris here:
http://tersee.com/#!q=paris&t=text
Key word= RETRIBUTION ! Where's that a few weeks ago when Citi put their derivatives UNDER FDIC !
It apparently never occured to the interviewer that the same justification for 'Macro-Prudential Tools' justifies wholesale Soviet-style supplantation of the market.
We already know that doesn't work. The more the intervention, the greater the distortion. The greater the distortion, the more 'market' moves into unofficial channels...or ceases.
Russians call this Mat6 - the unofficial market of 'favors' and barter.
You can't have a market without free will. Preference is the child of individual conditions. Collectives are imaginary, purely speculative entities that cannot escape individual demands. The pursuit of 'Aggregate Anything' is a Red Herring.
Being in denial does not mean one is stupid or incompetent. Highly intelligent people can easily fall prey to denial, particularly when group dynamics come into play. I believe that the folks at the Fed are generally highly intelligent, but they have so distanced themselves from the common man they have adopted bad policies.
Towards the end,almost missed it,he mentioned "REPRICING OF RISK" in the markets.
Repricing of risk=interest rate hikes=FED's pile of toxic CDO's and MBS crap exploding,AND.....the interest on the US Debt explodes to the moon.RISK is why Greek Bonds are at 10% instead of 1%.
Oh,I almost forgot.The barbarous relics should be,and soon will be,AU $2500 and AG $250.
They destroyed the markets with the Lehman default,and all the market rigging with no prosecutions (see Iceland).
And no Bankers having accidents lately.Remember Roberto Calvi,and his appt. for coffee with those great guys from Opus Dei in London,years ago.
the fed is like the quarterback who throws an interception that is run back for a touchdown. his team gets the ball back on the next play, and he thinks he must have done something right.
In the era of 0% interest rates, and the collective years behind them knowing everything you ever knew was bullshit.
And the fact that more printing from thin air cant do much, what do you expect? What do you want?
On a long enough time line, bullshit, humans, the whole fucking lot return to the lowest common denominator,
Zero, fuck all.
There is a storm coming. An unstoppable, righteous, nowt comes close storm brewing just over the horizon. The wankers who were entrusted to ensure our countries were run in our best interests and the cunts they listened to better be aware we know you left your job. And you left it wanting.
If you think the average man goes down without doing anything about his very precarious position, you are very fucking naive.
You are going to be burned alive Mr Politician, at the very best. Dog help you should you meet me. Tell your bosses, tell your friends, tell your families.
The People, We, Will, Be, Heard.
Cunts
;-)
FED Exit Strategy. Rape, Pillage, Next Victim
I remember back in 2005 (I think)
the year began with FL real estate up 20% in the first 6 months of the year.
Greenspan shrugged it off.
What does it take to realize there are excesses in the system?
The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration. The individual is always ready to ascribe his good luck to his own efficiency and to take it as a well-deserved reward for his talent, application and probity. But reverses of fortune he always charges to other people, and most of all to the absurdity of social and political institutions. He does not blame the authorities for having fostered the boom. He reviles them for the inevitable collapse.
von Mises, Human Action,
p. 574; p. 576
Btw the book of his quotes is really epic: https://mises.org/sites/default/files/The%20Quotable%20Mises_2.pdf
surprised they didn't cut his mic.
DUH !!!!
Rand Paul will take up his father's "Audit the Fed" legislation in 2015. I'm sure the Creature from Jekyll Island is not happy about that.
http://www.globaldeflationnews.com/rand-paul-takes-up-his-fathers-cause-...
http://www.globaldeflationnews.com/the-creature-from-jekyll-island-the-e...
I do hope it is successful.....but I'm not going going to hold my breath...they'll find some way of getting it killed.
Apparently Stephen Roach is in total denial about who did 911.
Well, I guess it's all in how you play it. I finally "caved" to the bank holding foreclosure over my head (inherited house from dad, complete with "shitty" CUNTrywide mortgage - dumb move, didn't have to be that way).
So, I'm taking their settlement, $9K, after having lived rent-free and tax-free (no small accomplishment... this being upstate NY, the bank paid almost $20k in taxes) for what will amount to 68 months, I don't feel I've done too badly.
Having to find a new place to live - and having to pay for it - kind of sucks, but I've been expecting this all along and never dreamed it would have gone on for more than five years (would have done some things differently, had I known).
Managed to get out of debt, build up a nice nest egg and improve my credit score, as if that matters. Banks still won't loan me money, despite a 700+ score and high down payment. The issue is my self-employment status and low income (done on purpose of course, to avoid taxes).
In the end, either the banks will get you or the government will. No wonder they work together. I long for the days that people thought independently and were interested in holding paper, rather than scrambling for cash and getting the banks in the middle.
Financial repression is what it is, no doubt about that.
Still looking for my five acres and a mule.
The FED'S exit strategy is, " quick let's get out of here, they're just overpowered security with pitchforks on the ground floor."
"hasn't learned the lessons of what it put the world through a decade ago."
Hasn't learned, or doesn't give a shit?
There is a small faction of the them that want everyone else to die in awfully painful ways so that they can have it for themselves.
Fortunately for us they should be gone soon.
Per my previous post, some folk cant be intimidated, subdued, frightened as you would like the vast majority of the human population, just see the goings on in France. 1500 men to catch 2? Righty hoe fuckers.
And even then they killed them so no word on what those two really thought? Righty hoe fuckers.
You treat this life as a game GCHQ, NSA, now thats your fault. Some of us wont. Some of us will fight for what you dont believe in. Same as those in France. 1500 men to go after two? And all the fucking military equipment that goes with it? Do you think we were all born yesterday? Thats your luck out then.
And the people, those you try to frighten, those that know, those that question the utter fucking shit you throw our way, millions of us? How you gonna stop us saying and doing the right thing? You think everyone will be cow-towed to the agenda you cunts?
Your time is running owt. And dont forget there are millions of Mixies, all around the fucking world.
You had better think long and hard about taking on all of us, because by the laws of averages, you have lost.
Mother fucking cunts.
Come And Get Some
;-)
+1 Mix
"The Fed "is in total denial," Roach rants, adding that it "hasn't learned the lessons of what it put the world through a decade ago."
The FED knows the lesson well. Wash, rinse, repeat.
Every one of those bastards shall hang. Kill yourselves now and reserve some self respect. The Japanese have fallen a long long way because Abe's ancestors would have fallen on their swords and alerted us to the truth.
Obama you're a pathetic piece of shit.
If you think the FED knows what they are doing....just go have a read of what the Bernank said in June 2013.
They are winging it and know no more than anyone else. Eventually the market will figure that out and distrust will be the result.
http://blogs.wsj.com/economics/2013/06/19/7-unemployment-the-feds-newest...
The FED is the MOST PROFITABLE HF TODAY, read this :
https://www.veooz.com/news/hID8rlq.html
98.7 billion paid to Treasury.
But do Americans that know and understand what this means even care at this point?
llets get this guy on the FED and see what happens. Nice to hear a bit of honesty
Remember, most of these Fed guys went to the same schools, read the same books. Draghi was a student of Stanley Fischer. There is NO diversity of thought. They are convinced they know what they are doing and they sit around agreeing with one another. Meanwhile, Japan has been in a depression for 20 years as a result of the bubbles they allowed and all the QE and ZIRP they have done.
If their policies were working why is Japan doubling down on QE every 6 months? Why is Europe going to "do more" and then "do more again". The policies have failed and until the market wakes up and reacts violently as it has twice in the past 15 years, the policies will continue.
In your opinion the policies have failed. The Federal Reserve knows exactly what they are doing- they are serving the sector that they care about.
Did anyone see the look on Roach's face when she mentions the Fed's use of "macro prudential tools"?...
My guess is he was thinking to himself your sitting on that blunt insturment with your twat you stupid cunt!
Penny for your thoughts Stephen!...
Macro Prudential Tools - Isn't that the definition of politicians?
It is like Caligula having a huge orgy on a boat, and some of the rooms are locked off where people need quiet to read their theoretical journals. Never glancing outside at the orgy. And then some figure ways to get in on the orgy while they remain in their cloistered halls.
This reminds me of the situation...The Merovingian.
https://www.youtube.com/watch?v=iR3fSL9WMdg
i'm very pleased to hear from educated people in the financial, and economic field to inform us we not crazy, the "markets" are not markets, but nwo tools.
yes he had quite a look on his face, when she mentioned macro prudential tools, just after he explained, that was, and is the problem, the macro prudential tools used by the fed..
i'm sure he was looking for the teleprompter, or the ventriloquist.
in the last 6 yrs. the fed. has spent 1 1/2-2 yrs. of Americas total gdp on macro prudential tools.
people have to get their minds right, what has this administration done to help america, name one.
in all this spending, show me where there wasn't a crony, or ideological purpose at the end of the money trail.
this is the plan, and the fed. is executing it perfectly, I see no wavering in this plan, Obama stated he wanted to fundamentally change america, and he didn't lie to you this time.
since the truth came out about silver, gold, and all financial markets are rigged, I've been planning to see if I can come out on the other side of the American destruction with some chance of keeping out of the fema camps.
Well, I never said I was a clever man
But I know enough to understand
That the endless leaps and forward plans
Will someday have to cease
(New Model Army - I Love The World, 1988)
As long as the Fed is acquiring assets on its balance sheet faster than my holiday belly is growing, why not eliminate all taxes altogether, and let them pay for everything.....
Gas tax? call the Fed and tell em to fire up the presses