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The Transparent Truthlessness Of The Fed
Submitted by Howard Kunstler via Kunstler.com,
The money-moving world waits on tenterhooks for the Wednesday appearance of America’s oracle, Janet Yellen, to step out of her grotto and state whether or not she feels twinges of patience. Wikipedia notes that Pythia, the original priestess of Delphi “…delivered oracles in a frenzied state induced by vapors rising from a chasm in the rock, and that she spoke gibberish which priests interpreted as the enigmatic prophecies preserved in Greek literature.” Some things never change.
Patience for what? Well, whether to raise the Federal Reserve’s benchmark short-term interest rate from near-zero to something microscopically above zero. This is what the world foolishly turns on. And, of course, also some oracular hint as to whether this momentous move might occur in April, June, September, or not at all.
Some canny observers of the vaudeville that US money policy has become — namely, Jim Rickards, David Stockman, Peter Schiff — maintain that Yellen and her Fed are boxed in and can really do nothing. Their policies and interventions regarding the flows of capital have done nothing so far but disable the normal operations of markets and distort the valuation of everything, especially the cost of renting money itself — for that is what happens when you take out a loan. The net result of all that is a financial picture that no longer reflects anything truthful about the actual economy, being a trade in goods and services.
The transparent truthlessness of the Fed’s basic premises go far to explain the chasm between official policy and reality - though it does not explain the appetite for plain lying of the supposedly informed minority cohort of the public, the deciders among us in business, politics, and media. For instance, the employment numbers that came out of the federal government ten days ago saying that the jobless rate is just over 5 percent. Everybody not in a special ed class in America knows that this is a barefaced lie. But nobody except a few mavericks on the web object to it. Lesser official oracles such as The New York Times and the Wall Street Journal report the lie without reservation and it gets absorbed into the body politic like any other morsel of protoplasm into the mindless amoeba that America has become.
So far, the Fed has tried to merely chatter about the possibility of raising rates as a substitute for actually doing anything. That’s because anything more than a gesture of raising rates will blow up the lucrative carry trade arbitrage enjoyed by the banks that hold the Fed (and everybody else) hostage, as well as the artificially inflated stock markets, and the US government’s ability to service its debt. That’s a lot to blow up. The wondrous levitating S & P index is the Fed’s substitute for reality. While the public’s attention is diverted to that ongoing marvel, they fail to see the appalling instability in currencies around the world, or the booby-traps laid in bond markets everywhere, or the devastation thundering through the oil industry, and the collapse of global trade relations that Tom Friedman said would last forever.
I’m sure that on Wednesday Janet Yellen will make a big show of surgically removing the word patience from the Fed’s so-called “guidance.” I’m inclined to predict that the Fed will make a gesture of raising the benchmark interest rate by 25 basis points or 25 measly hundredths of a percent. That will be as far as they dare go. They will make this lame gesture in the face of gales of bad news about what is really going on in a disintegrating global banking system, and also the devastation in real economic activity. Within a matter of weeks the oracle will step back out of her grotto and not only revoke the benchmark interest rate rise, but announce Quantitative Easing 4 in order to attempt to reflate the nation, gasping like a dying grunion on Redondo Beach.
By then, the Fed will be completely out of cred. This will be the biggest disaster of all, since the loss of faith in august institutions will rage through every polity in the advanced economies. Nobody will believe any longer in anything they say or do, and especially the value of the papers (or digits) they denominate as money.
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Sheeple want to be lied to -- get used to it.
Pretty lies in my ear are so much sweeter than harsh truth to the groin.
"gasping like a dying grunion on Redondo Beach"...
naah, more like: wheezing through it's blowhole like a dying giant blue whale on Jeckyll Island.
Well-played for the Jeckyll Island reference...
wgaf what jewboy cuntsler thinks he gay.
will the fat little groundhog see the shadow of her printer?
The Fed knows the score and aren't about to give in or give up...they are all in.
It's clear the Fed cannot continue QE (at least for now), SS surplus Intragov won't offer Treasury buying, US domestic public hasn't and won't buy Treasury's at anything near these rates...so the only possible buyer is the same as the last 3.5 years...offshore, non-trackable, "foreign holders". Belgium, Luxembourg, Ireland, Cayman Islands collectively have purchased as much Treasury debt since July '11 as the Fed. Where the dollars come from, the Treasury makes clear they don't know. And as they say, the trend is your (the Fed's) friend...look for Fed to stand back and amazingly the "foreign bid" to maintain the bond market.
All detailed here...
http://econimica.blogspot.com/2015/03/treasury-buying-pyramid-ponzi-or-gdp.html
my roomate's step-mother makes $79 hourly on the laptop . She has been fired for 10 months but last month her pay was $18694 just working on the laptop for a few hours. see here... www.globe-report.com
By then, the Fed will be completely out of credibility
The Fed was out of credibility years ago for those watch the Fed carefully.
Almost as much out of credibility as you are for your support for the insane official fairy tale of the 9/11 event.
I regard the 9/11 conspiracy theories as a fantasy and a distraction from the real problems we face. Kunstler
Thats a step too far for many.That admission would send many to the crazy farm after
destroying their world, and their place in it, forever.
Susan Lindauer, ex-CIA agent, who was almost lobotomized by US Govt. explains everything in detail. That is an insider's view on 9/11:
CIA WhistleBlower Susan Lindauer EXPOSES Everything! "Extreme Prejudice"https://www.youtube.com/watch?v=68LUHa_-OlA
Their world will get destroyed anyway.
Interesting presentation below (Catherine Fitts) at a tin foil convention - basically, how to make $40T+ go poof :-) Hat tip Rense
https://www.youtube.com/watch?v=w0mimIp8mr8&t=1177
JustObserving, I was not previously aware that Kunstler had made that statement. If so, then I presume that he still stands by that view, which means he is some kind of evil idiot? No one who does not face the facts that 9/11 must necessarily have been some kind of inside job, false flag attack, is able to have any overall rational perspective regarding the problems that the American and global political economy faces.
While Kunstler writes in an entertaining enough fashion, I find it disturbing that he is another one of those who are participating in the continuing public cover-up regarding 9/11 Truth. Anyone who bothers to investigate discovers that the official story is based on absurdities which requires a believer to deliberately ignore the basic laws of physics, such as the way gravity works, and the structural properties of the substance steel.
Of course, taking for granted the ways that the Federal Reserve Board can create the public "money" supply out of nothing is a MUCH BIGGER WAY to deliberately ignore the basic laws of nature, such as the conservation of energy, which reveals that nothing can be made out of nothing, and nothing sent to nothing. However, world's political economy is based upon the social successes of the ENFORCED FRAUDS, whereby privately controlled banks are legally allowed to make the public "money" supply out of nothing, as debts, which also can disappear back to nothing.
It makes perverse sense that a society which can accept that its public "money" supply violates the most basic laws of nature can also accept that the events on 9/11, according to the official story about those events, also violated the basic laws of nature. The deeper problem is that the ONLY connection between the laws of man and the laws of nature are the ability to back up lies with violence.
I have expanded upon that view in my comment yesterday here:
http://www.zerohedge.com/news/2015-03-14/inside-federal-reserve-money-nothing-full-movie
Inside The Federal Reserve: "Money For Nothing"
http://www.youtube.com/watch?v=MAYNW_vunfI
The Federal Reserve Board only has any "credibility" to the degree that the ignorant are credulous. However, the CRUCIAL FACT is that the banksters' systems are based on overwhelmingly leveraged FRAUDS which are ENFORCED. The Fed symbolizes the the extreme accomplishment of the methods of organized crime being successfully applied to the political processes so much, for so long, that there is practically nothing left which is publicly significant than controlled opposition. Therefore, the established systems of legalized lies, backed by legalized violence, continue to automatically become more psychotically insane every day. The continued existence of the international bankers' systems depends upon the ABILITY TO CONTINUE TO ENFORCE FRAUDS, after those have become electronic and atomic, in ways which are literally trillions of times BIGGER than ever before in human history ...
Since those systems have become globalized electronic monkey money frauds, backed by the threat of force from apes with atomic bombs, "our world will get destroyed anyway," as PTR already commented. The American Dollar and American Military have become psychotically insane State Religions, based on deceits and frauds.
Paradoxically, the more socially successful the established systems of organized crime (surrounded by controlled opposition groups) become at backing up deceits with destruction, and enforcing frauds, the more psychotically insane becomes the civilization that is being controlled in those ways. While many people take the ridiculously superficial view that fiat money is based on faith, that faith was made and maintained by ENFORCING FRAUDS. The real system MUST be able to back up its lies with violence, in order to keep going ... However, one can barely comprehend how to continue to do that after the frauds become electronic and the forces become atomic! The deeper levels of these problems are that human beings necessarily operate through the realities of organized lies operating robberies.
Money is necessarily measurement backed by murder. That would necessarily continue to the case, even if "We the People" recaptured control over the public money supply from the banksters. Those banksters now dominate their globalized systems BECAUSE they were the best organized gangsters, that were able to apply the methods of organized crime to the political processes, to realize the supreme achievement of organized crime, which is the LEGALIZED COUNTERFEITING of the public "money" supply by privately controlled banks, while that FRAUD is ENFORCED by governments.
The Federal Reserve Board symbolizes the ways that the established monetary systems operate in ways which get publicly get away with deliberately ignoring the laws of nature. 9/11 was another spectacular symbol of the ways that the established national security systems are also based on being able to publicly get away with deliberately ignoring the laws of nature. The DEEPER reasons for that are clear: social pyramid systems are based on being able to back up lies with violence, which became more sophisticated systems of legalized lies, backed by legalized violence. Therefore, the currently existing civilization is based upon the maximum possible frauds and deceits, as symbolically demonstrated by their two most significant symbols, the existence of the Federal Reserve Board, and the existence of the events on 9/11/2001, both of which are publicly presented as the most extreme forms of the biggest bullies' bullshit social stories, which are socially successful to the degree that there was the history of being able to back up deceits with destruction, and enforce frauds.
The majority of public opinions were made and maintained by that schedule of reinforcements, whereby some people were rewarded and promoted for agreeing with the biggest bullies' bullshit, while other people were punished and demoted from not agreeing with the biggest bullies' bullshit social stories. Since human realities MUST necessarily be some kinds of organized lies operating robberies, those who were the best at doing that were able to make and maintain the civilization we are living in now, which has become based on runaway criminal insanities, due to the problem of longer term failures from too much success at the being able to back up lies with violence.
The "success" of the Fed, and the "success" of 9/11, both depend upon being able to continue to maintain the established systems of organized crime, surrounded by controlled opposition, by being able to operate on the basis of frauds and deceits that superficially violate the basic laws of nature, while those actually are consistent with the laws on nature, but in ways which are as deliberately ignored and denied as much as possible within the public spaces dominated by the biggest bullies and their social stories.
In that context, it continues to be the case that most of the content published on Zero Hedge is done by those who could be called reactionary revolutionaries, because they are the kinds of controlled opposition groups that are staying within the biggest bullies' frame of reference. If what JustObserving was saying about Kunstler continues to be correct, then I would include Kunstler in that group of reactionary revolutionaries, which only superficially reveal some of the social facts, but never penetrate any deeper into understand how and why those are the social facts. In my view, Kunstler is providing an relatively entertaining, but grossly superficial analysis of The Transparent Truthlessness of the Fed.
Since those kinds of reactionary revolutionaries never go through a deeper analysis of the real problems, they never proceed through to present more realistic resolutions of those problems. As many other people have also pointed out, the events on 9/11/2001 were the most spectacular symbol, so far, of the ways that Americans, and the rest of world's population, are controlled by systems of deceits backed by destruction, and enforced frauds, which are spinning out of control, due to the deeper dilemmas that enforcing frauds never stops those frauds from still being false, and therefore, the more successfully those frauds are enforced, the more psychotic the civilization controlled by those enforced frauds becomes.
In order to attempt to asymptotically approach more Truth, one has to try to get closer to understanding the laws of nature which continue to exist behind and through the human deceptions and fraudulence. However, such deeper levels of more radical Truths require much more intellectual scientific revolutions than the vast majority of people now have any interest in thinking about ... At the present time we are stuck in the rut that most people continue to have faith in the biggest bullies' bullshit, because of the long history of that bullshit being able to be backed up ...
However, the basic systems of debt slavery backed by wars based on deceits have now generated numbers which have become debt insanities, headed towards provoking more and more extreme manifestations of death insanities, as the established systems of debt controls endeavour to perpetuate themselves by backing those debt controls up with death controls. In that context, the overall combined money/murder systems are, so far, most symbolized by the Federal Reserve Board and 9/11. Therefore, anyone who fails the litmus test of perceiving more 9/11 Truth also does not understand Federal Reserve Board Truth.
Both sorts of more Radical Truths require more scientific understanding of what actually happens, as the manifestations of human beings and human civilizations being entropic pumps of energy flows. However, the prolonged history of the biggest bullies' bullshit dominating society has resulted in that bullshit world view being built into the dominant natural languages and philosophy of science. More Radical Truths are way more RADICAL than the vast majority of reactionary revolutionaries currently comprehend, because of the degree to which those who are controlled opposition to the established systems of organized crime stay INSIDE of the ways of thinking using the biggest bullies' bullshit world view, that are almost still totally taken for granted.
While it is initially imperative to recognize that the Fed and 9/11 official stories are based on deliberately ignoring the basic laws of nature, and publicly getting away with doing that, because of the history of their frauds being enforced, and their deceits being backed by destruction, actually paying more attention to the laws of nature, which are working through those systems of lies backed by violence, requires much more radically changing the ways that we perceive those problems, in profound ways, than merely some superficially pointing out that the official stories are blatant absurdities, due to the degree they superficially are based on ignoring the most basic laws of nature.
In my view, most of the people who superficially present some of the clearly contradictory social facts regarding the Federal Reserve Board, et alia, still continue to mostly stay within the same frame of reference, and use the same language, such as relying upon taking completely for granted various DUALITIES, or false fundamental dichotomies, and the related impossible ideals, which are promoted as the basis for bogus "solutions." Instead, I promote using UNITARY MECHANISMS, which are more consistent with a better understanding of the laws of nature, such as the conservation of energy.
In that way, one could more thoroughly understand how and why the Federal Reserve Board is the American King of Fraud, operating within globalized systems, wherein the Bank of International Settlements is currently the King of Kings of Fraud. If enough people understood and agreed with that, then we might be able to resolve the issues of debt insanities driving us towards provoking death insanities. While I do not actually believe that appears to be happening in any publicly significant ways, nevertheless, I see no theoretically better resolutions to the problems that governments are the biggest form of organized crime, controlled by the best organized gangs of criminals, than to enable greater use of information, and thus, higher consciousness, so that there could be developed better organized crime, in order to have better government ...
Since we the established systems of debt slavery ALREADY HAVE generated numbers which have become debt insanities, and thus, appear to be on the verge of provoking unprecedented levels of death insanities, those situations may become the impetus for more people to be forced out of their habitual ways of thinking, and taking things for granted, into new ways of thinking, that perceive the world better, from the point of view of more realistically resolving their problems ??? Of course, the most objective assessment of the social situation that surrounds us now is that any such progress in political science appears practically impossible.
I wish that I could come to some other conclusion! However, I can not avoid the most probable conclusion being that our society is TOO terminally sick and insane, and so, pointing that out will make no significant difference to that society still committing mad self-destruction, which will surely take me, and the vast majority of the rest of the human species, down with it ...
No one who does not face the facts that 9/11 must necessarily have been some kind of inside job, false flag attack, is able to have any overall rational perspective regarding the problems that the American and global political economy faces.
Please don't join the chorus in dumbing-down things.
If Kunstler believes that conspiracy theories -such the question when steel melts becoming a central "proof" for an inside job- distract from the real problems, such as what was done after 9/11 using it as a pretext, and many unrelated crazinesses, then he is right!
Malek, it is NOT "dumbing-down things" to look how the World Trade Towers were constructed as steel frame structures, and then look at the videos of three sudden collapses, and then conclude that MUST have been due to some kind of controlled demolition, which MEANS that 9/11 was an inside job, false flag attack.
Understanding how and why that could be done, and then covered up, is vital to understanding the events that then led to the financial crisess in 2008, which were also inside jobs, which was one of the most important of the subsequent events that 9/11 became the excuse for causing to happen. I am NOT underestimating the subsequent events of starting genocidal wars, and preparing to impose democidal martial law. However, those fit into a way longer historical development!
It continues to be my view that the sudden collapse of World Trade Center Building 7 proves more than anything else that 9/11 was an inside job. After being forced to face that conclusion, a whole lot of other conclusion follow after. It is NOT a distraction to face that most crucial fact first, before looking at the consequences of that having been a successful inside job.
Creating the Federal Reserve Board was also a kind of inside job, due to organized crime capturing control over the government, which has automatically gotten worse, faster, for more than a Century! Moreover, it could not exist without thousands of years of the history of Neolithic Civilizations before that, developing social pyramid systems, which were ALWAYS controlled by backing up lies with violence, that did not fundamentally change, EXCEPT for the advancements in science and technology being applied to make those ENFORCED FRAUDS become many orders of magnitude WORSE manifestations of runaway criminal insanities!
I want to remind you of a few things:
1. To state that one conclusion is the only possible answer needs complete understanding of all major pieces involved, to be able to rule out all other theories. Do you believe to have that comprehensive knowledge?
I am only stating that I see other workable theories how and why the buildings collapsed that do not include elaborate controlled demolition setups.
2. In the end it doesn't matter who is right on how exactly the buildings were brought down, actively (MIHOP) or passively (LIHOP) or not even intended at all (unlikely) , but what really counts is what was done to dismantle the Constitution, Bill of Rights, and Magna Charta afterwards and subdue uncomfortable questions -
and that's also how I understand Kunstler!
I have recorded my learning about 9/11 on the Forum thread that links to. I have watched several dozen videos and read several hundred articles on that topic ... There is no doubt in my mind that the available information proves beyond any reasonable doubt that there were some kind of controlled demolitions.
However, there is no practical point in my arguing with you, malek. The basic issue is that civilization is controlled by backing up lies with violence, while that was being done by applying technologies whose powers have been developing at an exponential rate. Thus, the real world has become systems of electronic monkey money frauds, backed by the threat of force from apes with atomic bombs.
The Federal Reserve Board and 9/11 were significant symbolic points on the path there, whereby being able to back up lies with violence, or enforce frauds, got worse, faster, by order of magnitude after order of magnitude ... I have always found that the more I learned about that, the worse it got. I now believe that the human species is going to commit collective suicide, while there is nothing that I could effectively do to either prevent nor prepare for that ...
While I like to try to understand things, discussing things like the Federal Reserve Board or 9/11 has become mostly like diagnosing terminal illnesses. It does not matter much whether or not one has the correct labels, since those diseases are still fatal ... There is nothing that makes sense in that context, other than some trivial individual amusements. There is no practical point to reading Zero Hedge articles, and posting comments, other than to track the tragic trajectory of a terminally sick and insane society killing itself, which we can not help ourselves from having to watch happen, while attempting to cope with that kind of prognosis ...
Well, I agree there is no practical point talking about details when you ignore my core argument in my second point.
At some point everybody need to decide if he/she
- has an overall goal to work towards when the opportunity arises, usually in babysteps
- prefers to get stuck in details while still pretending to search the final answer
- simply resigns
I am resigned to probably being mass murdered, like the people in the Trade Towers were, without being able to do anything about that. The details only matter IF there was something that was practically possible to do. There is not.
The history of mass murderers has been another of the exponential growth curves of history. The next levels coming are hundreds of millions, if not billions. There is no way to stop the trillionaire mass murderers that are currently controlling civilization. They are going to carry through their agenda, no matter how criminally insane that ends up being.
The destructions of the Constitution, Bill of Rights, and Magna Carta are relatively trivial compared to the basic problems of lies backed by violence being pumped up by electronics and atomic energy, and so forth ... My theoretical goals were to try to develop a better political science, that was consistent with the progress in physical sciences. However, that was obviously nothing more than a vain fantasy. The real world is debt insanities headed towards death insanities, NOT better debt controls backed by better death controls.
... The issues are how fast are things going to get WORSE than we can currently imagine ...
the fed is transparent in my opinion. they buy bonds with money that doesn't exist.
it just doesn't make any fucking sense. it distorts markets as evidenced by the SPY trading 60% higher than previous all-time highs. they've artificially driven rates into the ground and have fugged seniors and/or anyone else who simply wants to gain something on their $$$. people who should be in interest-barring instruments have been FORCED into REITs, dividend paying stocks.
so go ahead federal reserve and raise rates. please, i can't wait to see what happens. the market has a fuggin stroke everytime we even MENTION removing a fuggin word out of the statement.
so what will they actually do? raise rates once from 0 to 0.25%, watch the market tank, and then continue to lie about the mass inflation they created the last 10 years. once that happens, they'll raise as high as 0.50-0.75% just to see what happens and when the market gets pulverized, they'll march they're fed-clowns out there and talk about QE4 potential, that their done raising rates, blah-blah-blah. basically, anything to stop the shit show that we all here needs to get on with. but im sure we'll just change the CPI calculation a few more times and somehow convince joe-dipshit-america that his grocery cart really doesn't cost $700 to fill-up for another few years.
what we are now having DIS-inflation (not to be confused with DE-flation). and that (as rick santelli said last week) is a GREAT thing for the middle-class. who the fugg ever wired-into these jackasses heads that "some inflation is good"? if its natural, ill bite. but inflation is supposed to be a function of growth. get growth, you get inflation (naturally). oh, and get rid of the debt so you can normalize interest rates and people can get 4-5% on a riskless bond purchase so they don't have to work until they're 95 for fear they will outlive their $$$. THATs another way you can get NATURAL inflation because you allow people to sit on their $$$ and with the interest they collect, they can buy shit instead of having to live paycheck-to-paycheck.
these fuck-heads are simply NEVER going get-it because THEY DON'T WANT the sheeple to figure out THEY are the problem, not the solution. BUT without the lie & the false-narrative, they are out of jobs and have to go out into the real world and compete. can't have that - running the worlds largest hedge fund with no fear of redemptions (up until this point) is too much fun!
Is it somewhere in the constituion that people should get good interest on their savings?
Want a good return on your money invest it yourself.
I give zero shits about how little interest someone makes on money in the bank.
DON'T PUT MONEY IN THE BANK if you disagree with the fact they hold it for nothing and loan it out at 4%.
constitution also doesn't have a section in it calling for the creation of an entity to finance endless government deficits which go towards buying votes on out of control social programs which lead to systematic collapse.
ive read the document once or twice so its possible i might have missed that section.
I think the FED can rise rate, you underestimate that the FED works for the bankers cartel and other goals not for the US economy remember 2008. They started a currency war against Russia and China and it's just the beginning
Exactly, they will raise rates as part of the ongoing WWIII, hoping the US will
be the last man standing.
FOMC won't raise rates
it will strengthen an already too strong USD
as it is, US exports and overseas profits (subject to FX treatment) are/will be hammered this year
Agreed
They will not raise rates.....ever. They can't, and they know it.
Lie's are quick and easy, especially if the truth will get you hung from the nearest tree. The big problem is over the last few decades their lies have become accepted as truth in an Orwellin sort of way and the truth of the real situation has become too frightening to be spoken. Bad things are coming and it will be a 'surprise' to far too many people who should of known better.
QE4?
He's clueless if he thinks that just around the corner. We'll get it again ... down the road ... after the trout pond restocked
FY2015 deficit projected to be less than $500 billion ... much of that debt issued on the short end ... not enough long end stuff to buy (if going by past QEs) and FR pretty much ALREADY cornered the bond market... Mr. Market won't be happy with a piddling amount
Please, the truth is that they are already well past QE4. Bankers and financiers can still get all the free money (ZIRP) they want, how in the fuck is that not QE (for them)?
you're right about ZIRP ... i think banksters much more concerned about keeping it than another round of QE ... raising the short end will only flatten the yield curve (further)
banksters no likey flat curve
Personally, I think we will follow the E.Z. so be "patient". Soon, you too will get paid to take out a mortgage.
"winning".
That depends on how rapidly the 'data' deteriorates from here. If there is anything remotely resembling or pointing towards a 'cascading effect' from the cumulative data, She'll be there with 'QE-4' like a snakebite. They will simply call it something else and come up with a bunch of sophistry to cloak it/explain it away. 'Continuity' will not be sacrificed for 'acting' tough - the stakes are simply too high and they know it.
At this point they just need to stop fucking around and give everyone with good credit access to hundreds of billions at near zero interest! Why should the bankers and financiers be the only ones with that access?
tick tock motherfuckers...
I don't get the "confidence loss" argument. If they don't raise rates, what happens is people won't believe they'll ever raise rates. So the dollar weakens, stocks soar. That's the objective.
Janet will be given a convenient excuse to "preserve her integrity"when she does the next QE. The escalation of WWIII is just over the horizon.
“The last duty of a central banker is to tell the public the truth.” - Federal Reserve Board Vice Chairman Alan Blinder, Nightly Business Report, 1994
So they're officially on the record as lying criminal bastards [and bitches].
Banksters Inc. is having way to much fun on the way to becoming trillionairs! No way they will allow the un-fed to raise rates.
Jack Yellens duty is to her share holders in their private bank! Screw the masses!
Also screw Con-gress who could do something about this fucking fraud, but refuse! As the USSA circles the drain!
Well, it does take a lot of Fed funny money to get "elected".
DEATH TO THE MONEYCHANGERS.
Kaiser Sousa : "DEATH TO THE MONEYCHANGERS."
Nope. Take their money away. Take their ability to make money then let them fend for themselves. See how long they last.
Hilarity will ensue.
u can do that...
by accululating the only 2 forms of REAL money in exchange for their worthless script...
Kunstler was an early canary in the coal mine.
No one in power will do the right thing now– it's too late.
Pure theater.
Buckle up.
So let the secular iconoclasm begin.
Pimping aint easy. Its real hard when all the girls are ugly and sick.
The algos only have to be confident that the Fed will do what they want.
Why would anyone believe anything said by a central banker or politician?
These articles written by people whom I'm assuming are intelligent, are getting very tiresome. The Banks lost all credibility in 2009 when they did away with mark to market. We know, that when they TOLD the AG that we as a nation could not prosecute fraud, because if we did we would lose faith in our financial system that all credibility was lost. We know when Goldman Sachs packaged crap MBS and took the other side that all credibility was lost. We know when Hank Paulson handed in his 3 page "never question our" 800 billion dollar bailout request, all credibility was lost. I could go on, but everyone with an IQ of 90 knows that, credibility was lost decades ago.
The idea that they'll ever tell the truth, while working for the oligarchy/bank is a joke. The only time these people tell the truth it seems, is after they have left the FED. Liars lie, that's what they do. If they told the truth while working for the oligarchy/banks they would soon be suicided.
Now que Alan Greenspan, and let him tell us how the stocks are overvalued, and that golds a sound investment.
yellen is a lying cunt
this bitch just keeps bidding
the truth lies in the Fed's balance sheet and requires an audit
"The truth lies in the Fed's balance sheet and requires an audit." --orangegeek
The truth requires an audit? Amen to that, brother. I have no doubt that any audit of the Fed -- conducted by officials whose careers are subsidized by corporatists who are utterly dependent upon the power of the Fed -- would yield nothing of any actionable value. The mainstream media, as most anyone on ZH already knows, is but a marketing arm of the corporatocracy, and would only distribute to the "bewildered herd" an impression of a viable audit.
Audit the truth, indeed.
OK. I CALL BULLSHIT.
ummm... i think we're getting a little ahead of ourselves here.
Can't we just go back to everyone playing nicely in the sandbox together?
you underestimate the ugly underbelly of this nation that the banksters own and the government runs for them.
Just curious can the Banks quietly with minimal damge unwind the carry trade they are worried about. If not can someone please explain why not? Thanks
i love Kunstler, he is so bitter!
"The loss of faith in august institutions will rage through every polity in the advanced economies. Nobody will believe any longer in anything they say or do, and especially the value of the papers (or digits) they denominate as money." --James Howard Kunstler
Eennttt, wrong. Good article, but he ends it in error. Loss of faith in "august" institutions is irrelevant to entities whose profiteering is dependent upon the whims of those institutions; dependence is a much more compelling day-to-day force than faith. Furthermore, any loss of faith in the prime operators of our monetary flim-flam machine that does get stirred up will get filtered out before reaching the Democrapublican denizens of Main Street. Democrapublicans will still turn out for their elections by the tens of millions, and will "faithfully" continue to endorse the status quo regardless of what moves the monetary politburo makes. Democrapublicans are generally ignorant of such matters, preferring to perceive of politics according to the more familiar left-right wedge paradigm. As long as the voters' corporatocratic masters continue to distribute eighth-grade level propaganda supporting the everything-will-be-fine-so-keep-trusting-us message, the "citizenry" will just keep on believing.
The Federal Reserve and complicit Congress have set the world on a path of destruction that will take down every economy and send the globe into financial chaos. The Creature from Jekyll Island is about to destroy itself...
http://www.globaldeflationnews.com/the-creature-from-jekyll-island-the-e...
I like Kuntsler's prose when he's not droning on about peak oil.