Don't Show Stanley Fischer This Chart

Careful to follow the status quo's meme, Fed vice-Chair Stanley Fischer just uttered the following...

• FISCHER SAYS DOLLAR'S RISE ALSO REFLECTS RELATIVE U.S. STRENGTH

Which is odd because a) Jim Bullard said this morning that it was ECB QE that was responsible for the strong dollar; and b) US growth expectations have collapsed as the USD soared. Don't show him this chart...

Charts: Bloomberg

Comments

[Callz d Ballz]

You cannot call yourselves investors any longer.

[Headbanger]

Tylers:  The chart shows GDP about 4% too high.

Nahhh.. Make that at least 8% too high.

[nope-1004]

Stanley Fischer, you are officially either an idiot or a liar.  The dollars' rise is not indicative of US economic strength, it is indicative of investors rapidly redeeming finincial instruments, thereby demanding US dollars, as it still is the reserve currency.  The dollars rise is indicative of redemptions in the shadow banking industry.

Time will tell, I guess.  Or, maybe not, as the chart above CLEARLY shows.

[Thirst Mutilator]

<-- Don't fucking believe a word that comes out of his pie hole

<-- Only Moses himself is holier [Thanks 4 registering your vote CH1 ~ lmao, as always, I come to ZH for the comedy]

Stanley Fischer ~ dual passport holder

[Farmer Joe in B...]

They just hope if they repeat it often enough that it becomes the truth.

Doublespeak at its finest.

[asteroids]

I think the dollar strength is due to the fact that there are a shortage of real physical dollars. Imagine you are in Eygpt and the brotherhood starts knocking on your door wanting protection money. You figure now is a good time to get out of Dodge, and you convert your now worthless local fiat toilet paper to almost worthless US dollar toilet paper. If millions of folks around the planet all do this at the same time, the dollaro will rise.

[holdbuysell]

Yup. I'm of the view that the oil price tanking resulted in margin calls on oil derivatives denominated in USD that people must now sell (and settle in USD).

[Burt Gummer]

I wonder if these guys actually believe their own bullshit or if they think we are all just really stupid......

https://www.youtube.com/watch?v=-X9Om-jP_2s

[Winston Churchill]

Sadly, most sheeple really are that stupid.

[butters]

a thirty year study by Dr Hawkins who wrote, Power VS Force, has proved that 85% of humans cannot tell the truth from falsehood.

[Quirkel]

Stoopid

[Angusdude]

Stanley Fischer is another one of the bankster cabal who is lying (how do we know...yep that's right his lips are moving)

The Banksters are the extreme shallow end of the gene pool.  And they are so smart that they think that makes us stoooopid.  But Gump had it right

[timeless21]

How AWESOME is this, tell me, please?

Do I buy now?

[Hohum]

It's all relative.

[Soul Glow]

Transitory?

[LawsofPhysics]

LOL!  There's a trade in there somewhere....  

[Mister Delicious]

and don't show him these links:

AIPAC's Fed Candidate Stanley Fischer on a Warpath ...

Stanley Fischer: A Dual U.S./Israeli Citizen and Pro-Israel ...

The struggle to put Israel Firsters in top US Government positions continues apace. The consequences of having Paul Wolfowitz and Doug Feith in the number two and three slots at the Pentagon and Richard Perle serving as Chairman of the Defense Policy Board during the run up to the invasion of Iraq have slipped down the memory hole.

Wolfowitz, Perle and Feith were all strong promoters of Israeli interests before they got top positions in the Bush Administration. Their excessive zeal even triggered a number of FBI investigation and all three were strongly suspected of passing classified information to the Israelis. But obviously being an Israel Firster was no bar to advancement in the US Government. Should anyone be surprised that these guys cooked up bogus ‘intelligence” to get us into the Iraq war for Israel’s benefit?

Making Stanley Fischer Vice Chairman of the Federal Reserve Bank, however, elevates the practice of putting Israel’s partisans into critical policy making positions in the US to a whole new level. Perhaps Israel’s friends are hoping he will help to serve up another war, this time against Iran.

Fischer served as head of Israel’s Central Bank for eight years and is a US-Israeli dual national. Shouldn’t we Americans insist that officials at the highest levels of our government have an unambiguous loyalty to the United States? Ask yourself: Is it possible to be simultaneous loyal to more than one country?

Not that long ago just working for a foreign government would have cost Fischer his American citizenship. Passports used to contain the following warning: “LOSS OF NATIONALITY. You may lose your United States nationality by being naturalized in, or by taking the oath or making a declaration of allegiance to, a foreign state; or by serving in the armed forces or accepting employment under the government of a foreign state.”

The oath new Americans swore at naturalization also left little doubt how Uncle Sam felt about allegiance to more than one country. Back in the 1920s the oath for immigrants from the UK went like this: “…I absolutely and entirely renounce and abjure all allegiance to any foreign prince, potentate, state, or sovereignty, and particularly my allegiance to King George V of whom I was formerly a subject…”

So how can Fischer be considered for the number two job at the Fed when just a few years ago he would have lost his American citizenship for accepting an Israeli government post? Law and practice have changed dramatically, thanks in part to a lawsuit brought by one Ephraim Bernstein in the 1960s. Bernstein was born in what was then the Russian Empire at the end of the 19 ^th century, immigrated to the USA and was naturalized in 1926. He trained to become an artist in this country, but eventually left the United States and settled in Israel in the 1950s.

   -  http://www.unz.com/article/israeli-american-dual-national-stanley-fischer-at-the-fed/

[indygo55]

Read this and you will understand.

http://www.veteranstoday.com/2015/03/08/the-hidden-history-of-the-incred...

[Bell's 2 hearted]

looking forward to wednesday morning ... EIA crude  inventory (build) report

[LawsofPhysics]

with a burn rate solidly above 18 million barrels per day, I don't worry about such small "bumps in th road". 

[Bell's 2 hearted]

production not slowing down ... year over year is up several percent

in the face of slowing demand

[LawsofPhysics]

The world still very much runs on oil and with 7+ billion people still competing for a higher standard of living, there is plenty of demand.

Plenty of demand to simply maintain the status quo. 

[Hohum]

Au contraire, we'll see it is slowing down.  Look at Bakken: up about 35% Dec 2014 v Dec 2013.  Will we say the same about Dec 2015 v Dec 2014? Not likely.

[Bay of Pigs]

Don't look now but the Canadian oil patch and RE bubble are heading south in a hurry.

http://calgaryherald.com/business/real-estate/fort-mcmurray-housing-sale...

[Soul Glow]

The Fed should hurry up and sign onto China's bank so they can raise rates and bankrupt the AIIB.

[Angusdude]

The lame US will not be granted admisttance to China's party - The Sino's are not that stupid.

[Jonesy]

Let me get this straight, the Fed buys assets like bonds and stocks with money it prints from nothing?  So they have a zero cost average and couldn't care less if the assets lose value because it's all profit to them.

Pretty sweet scam on the goyim.

[LawsofPhysics]

Yes, until the goyim start starving...

same as it ever was...

[Jonesy]

Except now they  buy drones with the money they print.  They have nerve acting like they actually have a "cost of assets" on the books, when it's only the price they paid with money from  nothing.  

Goyim deserve to be wiped out for being stupid enough to ever let the simple Fed scam get off the ground.

[Keltner Channel Surf]

"Don't show Stanley Fischer this chart"

That assumes he can actually see ...

[The central planners]

Im hating this "new normal"

[lester1]

FED = NATIONALIZED BANKING AND FINANCIAL SYSTEM !!!

RIP  FREE MARKETS

[nakki]

This good cop bad cop thing is getting so very old. Is this what the smartest chimps on the planet have to offer. At least get some hot women with big giant bazoooms in there. Throw in a couple of hot dudes with huge packages for the women and dudes who like dudes, and this farce could go on for years. The likes of Janet Yellen and Stanley Fisher ain't doin it for me. I'd rather listen to a dentist drilling my teeth "Marathon Man" style than listen to Yellen. Kate Upton for FED chairman.

[Quirkel]

All due to global warming...and its all transitory

[orangegeek]

USD is rising because Euro is falling.  It's a club.

http://bullandbearmash.com/about/usd/

six offsetting currencies vs the USD

[polo007]

Central bank balance sheets as percent of IMF nominal GDP:

http://fingfx.thomsonreuters.com/2011/12/21/1652597407.htm

Debt to GDP ratios:

http://fingfx.thomsonreuters.com/2015/03/19/111450d1ad.htm

[OH10DESERTER]

Translation of Fischer's statement:  In a fucked up world, the U.S. is one of the least fucked up.   If the strength Fischer speaks of is the current ability of the Barron's to rob us blind and/or the fact that we still have the bombs, then I could see his argument.  If this strength he speaks of is intelligence, perseverance, and dedication and devotion to self responsibility of the American folks.  Well that's all been watered down through financial proliferation, trading w/ slavers and toxic polluters, Corporate Cronism, and entitlements.  Shoulda nipped this shit in the bud in '08, but if we didn't kick this can, than my 80 yr plus old granma couldn't of got a tummy tuck and lap band  paid by medicare (true story).  At least its Summer Shandy and BBQ season.     

[Colonel Klink]

Stanley is a lying cocksucker of the Federal Reserve, as they ALL are!

[not a yahoo]

Well Fisher is correct: It reflects the relative strength of the US economy compared to the EU. Weak vs weaker, get it?

[doctorZH]

Come on, you guys, you can't have it both ways.  Either you have a weaker dollar and more debt all over the world; or you get a stronger dollar, and deflation all over the world.  Of course, deflation won't be easy.  But we have to go through deflation to get back to GO.  So, yes, the strong Dollar will deflate the world, and will be painful.  But it will actually hurt the big monster US multimational companies, that need to be cut down to size.  The strong Dollar will not hurt companies that sell their products in the US; it will make imports cheaper; and it will make it so Americans will be able to buy up foreign assets, instead of having foreigners buy up US assets.

There is no BOTH WAYS.  Either you want more inflation and debt, through more QE, which is a transer of wealth to the world's richest entities -- or you want deflation and less debt.  Only one way out of this Hell's Kitchen we are in.  Strong Dollar.  Let the multimnationals bleed and whine and scream.  Long live the Strong Dollar; until we have destroyed the world's debt.  This is the only way back to NORMAL.