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Dear Bill Dudley, Why Are You Lying?
The Fed is creating not just uncertainty but appears to be destroying any credibility it ever had along the way. This morning's spewing Fedspeak from Bill Dudley was full of unbelievable and explicit lies.
First he uttered the following.
- *DUDLEY: HIGH YLD MKT RELATIVELY ORDERLY, REFLECTS GLOB ECON QUESTION
Does this look "orderly" to you?
Then he stated confidently that
- DUDLEY: HASN’T BEEN A SHORTAGE OF TREASURIES IN MARKETPLACE
The problem is TBAC has completely refuted that...
- TBAC: THERE IS A SHORTAGE OF TREASURIES IN MARKETPLACE
Then finally he said this...
- DUDLEY: ALGOS NOW BECOME 'ARMS RACE' TO DEVELOP BETTER MODELS.
But, pelase, let's ignore that and do nothing to stop it - the conclusion will be entertaining. We assume he mentions this to make sure he "warned" the public about HFTs when the next crash comes.
Perhaps, the only time in his speech Dudley did not lie, was the following:
- DUDLEY: FED QE MAY HAVE AFFECTED RECENT MEASURES OF LIQUIDITY
Yes, thank you Bill, that will be all.
Source: NY Fed
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He lies because he was a natural born banker!
Yeah but is it really a lie if you're really just talking to the Algo's?
It depends on what your definition of "is" is.
https://www.youtube.com/watch?v=j4XT-l-_3y0
Spotted: Dudley during his speech this morning. http://i.imgur.com/MBlS7Wr.gif
Why was he lying? Because his lips were moving.
Because he paid to!
But don't those who truly love us HAVE to lie to us for our own good?
I mean if they REALLY love us??
All I want is for someone to really care.....
The claimed "dual mandate" is a lie. The real mandate is singular - to keep credit and monetary aggregates commensurate with the long term production capacity (eventually actualized GDP) of the United States. Search "Federal Reserve Act Section 2A" and read it yourself.
The problem is that I mention this verifiable fact and I can't recall a ZeroHedge commenter ever commenting on this foundational lie used to occult their CRIMINAL DEBT-MONEY BUBBLE BLOWING SOCIETAL ASSET STRIPPING OPERATION.
The mandate is written so that, IF THEY FOLLOW THE SINGULAR MANDATE, they are supposed to achieve multiple objectives (and there are more than two now!).
In Orwellian fashion, they swapped the expected results of following the mandate with the mandate itself in order to conceal the fact that they've broken the mandate for 30 something years running (excepting the 2009/2009 collapse).
In equal Orwellian fashion, the masses doublethink their way out of dealing with this in-your-face privately controlled Federal Reserve BLACK LETTER LAW CRIME.
And this is to say nothing that these "laws:" HAVE NOT PENALTIES IF BROKEN!
SUCKAH!
We collectively can beat them by a non-participation into this rigged game. Can all of us honestly say no more gambling in the Wall street casino?
Judging from comments, I doubt that we can. Some have stopped and some still short stocks waiting for thr big reset while the fed burns them.
We can beat them stay out
Doesn't everyone involved in the financial industry lie these days? Isn't it in their blood??
http://jimrickards.blogspot.ca/
Many of us formerly employed exchange floor refugees UNDERSTAND what due diligence and fiduciary responsibility are, but now it is immaterial.
Yes, immaterial.
The only thing that matters now is which way the stampeding herd will run next, and if you can influence its direction.
Will there be steak for dinner or hoove tracks on your back?
I'm staying out of it, accepting my role as collateral damage. Maybe an extra on "the walking dead".
Ain't it good to be a Bankster?
because, when shit gets serious, you have to lie - Juncker
"Because I am a scorpion"
What's he supposed to tell, the truth?
<<chuckle>>
"When things get bad, lie."
It is orderly . . . relative to the gold or silver markets.
Oh, I know! Because he's a banker?
What did I win Tyler?
More chocolate rations.
I was really hoping for a Spider-Man towel too.
You can borrow mine when I'm done crying into it.
Call him by his proper name Doc, he's a BWANKER!!!
;-D
That ain't Chocolate!
It's not "lying"...it's called "fedspeak".
Christ, are you new here, Tyler..??
Fed Speak = Lying
They lie because they have to. The truth is too ugly.
Just trying to calm the sheeple.....dont run..walk to the cliff....
......Then stand and look down.
Why change now? Feds been lying since they were formed.
Could he just be a mouth piece? It all depends on which puppet cord is pulled as to what comes out of his mouth.
He said RELATIVELY
It must be getting serious then.
Maybe, just maybe, he was nudging Griffin and Citadel to start moving other HFTs aside with that ALGO comment - sort of like hiding in plain sight to keep with the militarization of trading. Every order is ambushed now, just to different degrees. Arrest the computers !!
He was OK and made sense right up until his lips started moving.
OMG!!!!!! A 0.001 percenter lied!!! The horror of it......
Yes, thank you Bill, that will be the fall.
I thought the heading said "Bill Dudley Why Are You Living"...alas it wasn't
It's just entertainment! (Imagine Ethel Merman singing "Everything's Coming Up Roses")
And yesterday we saw an article asking whether the Chinese were brilliant or clueless -- no need for such a question with the Fed!
They must be fucking geniuses and the rest of us complete idiots, for who would have thought it would have worked for this long?
That's why his last name start as Dud..
1. a thing that fails to work properly or is otherwise unsatisfactory or worthless.
For anyone who missed it here's Dudley's opinion:
http://www.newyorkfed.org/newsevents/speeches/2015/dud150930.html
She's a long read.
Then he stated confidently that
The problem is TBAC has completely refuted that...
Treasuries are government promises to complete trades ... and they always default. Thus, a shortage of such promises from that deadbeat is a good thing ... a very very good thing.
Asking why a jew banker is lying?
Someone must be lying in the FED.