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A Furious Trump Goes After Janet Yellen: "She Is Not Raising Rates Because Obama Told Her Not To"
Having gone after the entire GOP primary playing field, earlier today during a press conference held in his very own Trump Tower, Donald Trump decided to target his ire at a more worth adversary:US monetary policy in general, and Janet Yellen in particular.
This is what he said:
"The question is should the Fed raise rates? They are not raising them because Obama has asked them not to raise them. In my opinion, he wants to get out of office, because we're in a bubble and when those rates are raised, a lot of bad things are going to happen. In my opinion Janet Yellen is highly political and she's not raising rates for a very specific reason: because Obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn't want to see a big bubble burst during his administration.
The clip:
Naturally, the White House promptly denied the allegations: "Of course not," White House spokesman Josh Earnest said when asked about the remarks by Trump. "This administration goes to great lengths to ensure that the Federal Reserve" can make monetary policies that are in the best interests of the country and the economy, Earnest said.
This was to be expected.
Then again, considering today's rally which at least on the surface appears to be on a shift in sentiment (even if it is merely a continuation of the relentless short squeeze seen for the past month), now that a rate hike is again perceived bullish (which clearly does not explain why stocks soared on bearish economic data in October and hopes of rate hike delays) because "what would the Fed know if it is hiking that the market does not", Yellen just may surprise Trump and Obama with a rate hike in just over one month.
Which leads to the question: is Yellen as political as Trump claims, and if so, will Obama risk a market drop just in time for a presidential election that makes his golf game far less pleasant a year from now?
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Trump is right
I think The Donald is confused. The Fed and it's minions (Dudley, Jamie and Lloyd for example) call the shots, not Obama.
I wish I could lie as effectively as Janet Yellen. Is there an Ivy League course in lying? Sign me up! Lying 101.
S&P 500 is back to where it was on February 24th... whoopdy woooo!!!
Once it goes back to Feb 2nd levels they should just leave it so that every day can be Groundhog Day...
And there is this: (MarketWatch today) "The White House is facing criticism this week for long ignoring a 2010 law requiring President Barack Obama to appoint an official at the Federal Reserve who would oversee strengthening the nation's banks and improving the stability of the financial system.
And while experts say its perhaps unlikely that such a person could win confirmation now, it's unclear why Obama didn't bother when Democrats controlled the Senate -- and the empty seat has meant Fed Chairwoman Janet Yellen will have to testify on Wednesday."
http://www.marketwatch.com/story/white-house-feeling-heat-for-leaving-to...
God bless The Donald
Long bullet proof vests. Banksters don't like criticism.
If he is not smart enough to see what rising rates are going to do to debt carrying costs going forward maybe he is well suited for president.
pods
"This administration goes to great lengths to ensure that the Federal Reserve" can make monetary policies that are in the best interests of the country and the economy, Earnest said.
What was missing?
Nothing!
He completely agreed with Trump. They ARE pressuring Yellen. However the Admin’s concept of “in the best interests of the country” may not be the same as Trump’s or mine or most people. And there you have it.
Finally got a black president and what does he do, steals $2 trillion of white people's interest payments over 7 years. Shocked
Trump may be right in what he said but he is confused in what he intimated. Raising rates will strengthen the dollar which will put further pressure on other currencies. How you plan to tell other countries to not devalue their currency when yours keeps getting stronger? What does Trump plan to tell US exporters when this happens? I can't see him in a video saying "I fucked up basic finance". He is telling people what they want to hear in an election year, which is usually a good indicator that he will do the exact opposite if this is even a serious candidacy.
Obama will not finish his second term!
http://motivationdose.com/is-america-babylon/
I bet Donald knows better than anyone, including most of us here, what rising interest rates will do. He is a real estate developer. RE developers live and die by leverage and DCR (debt coverage ratios). He has a better understanding of finance than anyone in the US Federal government right now. People give him shit for his BKs in the past, but haven't we all agreed that the US balance sheet is proper fucked and it needs to be restructured? If so, then Donald is the man for that. The other option is we turn Japanese and become walking zombies while the average US Citizen is dumbed down into zombie slime.
Personally, I say raise interest rates, let the forest fire happen, and maybe the real capitalists and entrepreneurs can rise out of the ashes.
Looks like The Donald badly wants the COLLAPSE on Obamas resume. That means he must already be certain that he will become President.
I suspect Donald will then preside over the fire sale of whatever is left in the giant pile of ashes...
If it looks like Trump is ahead in the polls, they will bump for sure. Shake the boat a bit and see who barfs.
If Hillary, then smooth sailing, long green energy dreams.
"She's not raising rates because Rothschild told her not to."
FIFY, Donald.
(It would be nice if the ZH text editor actually worked...)
Well, I wouldn't want a collapse on my watch, that's for sure. Reminds me of the simpson's clip tho.....
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&cad=rja&...
Donald makes a very good point - besides a token raise on interest rates - I DO think we can expect interest rates to stay where they are until the new president is on board. That is EXACTLY Obama's style - make a mess and leave it for someone else to clean up so he can play the blame game.
Yes another example of Trump's ability to look within a person to see their motivation.
I've always suspected the 2008 financial crisis was engineered by Barney Frank and his ilk for the sole purpose of electing a Democrat POTUS. Either Obama or Hillary would have fit the bill. Since 2011, I've been pretty sure that QE will never end. Donald is right any attempt to end it will be a false flag, intended to tank the Market so another Socialist can be elected POTUS.
...By ongoing executive order...obama quietly drones trump into kingdom come in 3...2...1...
<< Is there an Ivy League course in lying? >>
Yes, it's called an MBA.
The Juris Doctorate is the premier degree for the discerning psychopath.
To be followed by a job on WS creating CDOs.
A yarmulke is your graduation cap.
Now he has my vote for sure
Now I am going to turn on the television more and more
Politics is so much fun to watch!!!
Aint this exciting, folks?!??
I am on the edge of my seat!
What I like most about all of this suspense is that at any moment in time, ANYBODY can rip out a superman cape and save the day!!
Oh, who will it be??
.
Why all the down votes on a perfectly good point?
Some of the Pubic Servants that frequent this board don't know what that means, so like all good crotches, they fear what they don't understand...
;-D
The scroll thing happens when your JavaScript is turned off.
The positive is that most of the annoying does not work, but the downside is that when you vote you get a refresh that sends you to the top of the page.
My solution is to look at the message number before hitting the up/down vote and then do a search for it after the refresh (just remember the last 3 of the numbers.. for example yours is 924)
Actually, they fixed it. The login is back at the top and voting does not go back to the top of the page. I'm running noscript, ghostery, and privacy badger.
All is well,,,
;-D
Obama is just an errand boy, sent by grocery clerks, to collect a bill from the taxpayers.
Brando said it best:
https://www.youtube.com/watch?v=nqjQG-Tw9FY
The Federal Reserve owns the Democratic Party... or the Democratic Party owns the Federal Reserve... or someone else owns both of them. Regardless of who is actually in control, it's pretty blatant that both entities are in the same chain of command.
Actually the FRB does own the place, including both parties, with 4T in UST and MBS, and printing the legal tender.
I think Japan, China and Saudis neck to neck for second. One thing for sure America doesn't own it.
All theatre.
The horror.
...crawling, slithering on the edge...of a straight razor....and surviving. Thats my dream, thats my nightmare
No Shit?
The course will do you no good unless you first pass Sociopathy 101 which has a 99% failure rate.
It's something like taking modelling courses... no good at all unless you possess the proper genetics first.
I think the Clinton Foundation offers an online course for a $10,000 donation
And for $250,000 Hill & Slick will give you personalized two-on-one instruction.
(but if you're a pretty female, Slick will make it one-on-one... and all he'll charge you is a cigar)
unless Hill gets to you first, and then she will give you an assitant job and marry you off to one of her political alies...
There are no Ivy League courses in how to lie. However, passing the Hare Psycopathy Test is required for admittance.
Lying almost got her killed.
Recall that the "Ivy League" is only a sports conference, and not an academic league. Those who can't get admitted to Harvard or Yale would prefer that you think otherwise.
Costanza 101.
https://www.youtube.com/watch?v=vn_PSJsl0LQ
All classes in all courses in all curricula in the Ivy League teach lying above all else. Why do you think those schools are so expensive? It doesn't take good schools to teach truth. Truth is just there, waiting to be discovered. Lying, on the other hand, is a high art, one that requires sixteen to twenty years of diligent practice to perfect.
"There ain't nuthin uglier than an old white woman." Fred Sanford, Sanford & Son
He never saw butt ugly black women like Oprah, Whoopi, or that man in drag who lives in the White House named Moochelle.
They are Obama. They are all the same.
The Fed is staffed with compliant tools. They don't call the shots, they do what they are told.
Obviously, Obama does what he is told as well. But if you look at the history of the Fed, with the notable exception of Volker, Fed chiefs usually defer to the political needs of the White House.
Depends on the Chair
William McChesney Martin - Fed Chair 1951 - 1970
He ran the Fed under five presidents (Truman, Eisenhower, Kennedy, Johnson and Nixon) and seems to have had a generally low opinion of presidential economic acumen. In an interview after he left the Fed, Mr Martin said that, for presidents, a lot of economics “is just almost superstition”. Democrat or Republican, they would try to persuade him to observe the needs of politics. John Kennedy's advisers were obsessed over whether he was “on the team”. He usually was not. When in 1965 he decided to raise interest rates to try to stave off inflation brought on by the Vietnam war, Lyndon Johnson called Mr Martin to his ranch in Texas to berate him about the political consequences of a rate rise. Mr Martin stood firm. The Fed had to “lean against the wind” of inflation, he said. His job, as he famously quipped, was to “take away the punch bowl just when the party gets going”.
The punch bowl analogy is long gone with ZIRP and NIRP.
Rate normalization is impossible now without complete financial chaos and severe economic destruction. Stocks, bonds and RE sectors would all collapse.
Yep.
You can't get to an economic recovery from where we are...
Actually you can but you must go through Zimbabwe to get there.
Why the pessimism?
So you want to know "why the pessimism?"
http://www.anonymousartofrevolution.com/2012/12/those-who-dont-study-his...
Significantly raise rates, while simultaneously chopping income taxes in half, then see what would happen.
I think that Arthur Burns succeeded Martin as Fed Chair. I do believe that when Volcker left, that was the last goy as Fed Chair.
Obama is the ultimate compliant tool
Volcker's hand was forced. The dollar was getting slaughtered at that time. Gold went parabolic. He was playing catch up to the markets. They since found it's easier to sell paper gold.
Agree. But, all the more reason to call these fuckers out - and don't get lost in who's calling the shots. At the end of the day who gives a fuck who is calling the shots? The FED is a fucking crutch for the 1% - end of story. Yellen can spew forth a bunch of nonsensical economic crap, but, at the end of the day - its on her. And if she's a puppet too, then TFB! Gotta start somewheres and I think thats what Trump is saying.
Yes, Pareto. I love Ron Paul but in one clip Trump has called out the Federal Reserve in front of the American people more than Ron Paul got in publicity in his entire career.
It's an awesome, smart, hilarious "I dare you to raise rates, you stupid cunt" from Trump.
The Donald has my respeck!
He has my respeck, too.
But I am not sure he will ever earn my respect.
It looks more like he surreptitiously defended the status quo using a jedi mind trick.
<<...in one clip Trump has called out the Federal Reserve in front of the American people...>>
Let me get this straight.
Trump puts every other actor in a position where doing nothing and maintaining the status quo is their safest bet and he preps the public to continue to accept more of the same and that warrants praise.
Okee dokey.
Trump is incorrect. HOWEVER, he DOES have the correct subject, even if he doesn't undersand it.
Even Trump has to be careful how he words things. We do have a lot of dead presidents but Trump has to get elected before he dies to be one of them.
Obama does not have that kind of power. Obama is a puppet. The people pulling the strings of the FED has always been Wall St. The FED is an independent entity. People should know this.
A-fkn-men!
Obama, Earnest et,al; are merely salesmen.
And what other candidate is making this crucial point? Even Rand hasn't had an effective anti-Fed message. Trump is 100% right.
Jeb’s ‘weird noises’ fascinate Rachel Maddow-
http://tinyurl.com/ne2sxz4
Downvoted for mentioning Mad Cow Disease.
As did I.
He absolutely is right that this is his "opinion".
Whether Trump is right or wrong is really not the point. He's accused Obama and Yellen of conspiriing and he's in the daily 24 hour news cycle where everything he says is reported around the world. This is actually very good news.
Almost right....The Fed has other people that pull their strings. The Fed pulls Obama's string.
Obama appointed Janet Yellen. Obama can "hire and fire at will" the head of the Federal Reserve. Of course he makes the decisions.
He's right about the bubble and interest rates but completely wrong about tariffs. Tariffs won't make you competitive, innovation and r&d will. The Donald has really dumb solultions to right problems.
Trump is correct.
careful Donald... truth is treason in the empire of lies.
The Donald on The Money.
Fuck Obama. Fuck Yellen.
what about the Donald Trunk in your Allah o akbar of f***ing wishful thinking?
China has still a lot of US bonds to sell.
Too Black to Fail. And they'll burn down the country to make it so.
I think there's plenty of evidence showing that Obama hasn't the first clue about economics or finance. All of this is completely over his head. Other people are having those discussions and making decisions on behalf of the status quo players.
That's why you need someone in the position of president that knows what the hell is going on with the economy. If someone was in office that knew what the fed did and wasn't ok with the fed destroying the country, that president would pull Yellen into his office quick and tell/ask her "what the fuk are you doing bitch, you are you trying to burn this puppy to the ground. You cannot leave rates this low for this long you crazy whore" Then he would ask for her resignation.
"Then he would ask for her resignation"
Our 7th President, Andrew Jackson, knew what he was doing.
In 1836 he abolished the 2nd Bank of the United States, what was the Federal Reserve of that time.
That is what needs to be done now. No audits, no change of personnel just fu.king "kill the financial beast"!!!!!
Nah, the president should definitely be another lawyer.
The president has no business getting involved with the economy in any way shape or form.
Then the question is who told the Clueless Negro to tell Yellen not to raise rates?
(my guess is Lloyd Blankfein. Who do you think?)
Maybe Himee Diamond...
;-D
Exactly! It reminds me of this staged event.
http://cdn.thedailybeast.com/content/dailybeast/cheats/2015/10/28/obama-...
He surely does not seem to know much about ConLaw.
Does Trump want his bubble burst ?
this guy is fucking great
and to anyone who DOESN'T like trump, you can thank him for this because he is the ONLY one in this political race with the fucking balls to say it
The Fucking Balls to say a lot of things.
Should he be elected I look forward to public outings of many a corrupt scumbag.
I think even Trump would need 3 terms to undo all corrpution that needs to be undone, but he may have to issue some Presidential pardons to get some of them to turn on the other ones.
He may even need to call in the Military for protection
Donald is a fucking hypocrite. Speaking the truth, but still a fucking hypocrite. I wonder where all that real estate would be valued without the Fed buying all those MBS.
Fuck all these fuckers, including donald.
He's not a hypocrite and he's not a fool either.
Of course he was happy to take the increase in real estate values, give me a break.
He's not Mother Theresa , he's a businessman
Yup. Lock me in a room and make me choose between Donald, Hillary or Jeb, and I'll pick Donald, and walk out feeling like a filthy fucking whore.
Yup.
Still infinitely more preferable than Hillary or Jeb. Plus it may turn a new page allowing for better people to enter politics who are not owned by the usual suspects.
As opposed to what?
Four corporate bankruptcies. He's played the game.
Yep, and in a game where eveyone is playing the same rules...corp bankruptcies, I'd say the billionaire did right.
Mortgage Back Securities are like a gun. Guns don't kill people, people kill people. MBS don't imlode, MBS carved up into tranches of A, B, and C, all sold as "A" by some psychoathic banker are set to implode.
the MBS is a powerful economic tool that probably made the house/apartment you are writing from possible. Don't like it, Move to fucking Afghanistan and live in a cave.
He'll just replace the current corruption with new or slightly different corruption.
Now that's change I can believe in...
lol
But He is wrong and knows it. He knows the fed is the puppet master.
He stated twice that it's his "opinion", and while it might be true, he's got as much proof as he did when he had all that birther claiming about Obama. Let's not put him up for sainthood just yet.
No one asks what he knows about the birth certificate. I suspect he's seen the real one and is using it for 'protection'. Did he get his copy from Hildabeast? I'm sure she has it. If he enters the WH and is not killed, then I know it's true.
the biggest fattest dove on the wire doesn't need to be told how to coo.
Trump sayin' what a lot of people are thinkin'...
Trump should learn from the Master Putin how to deal with the 1%...
classic Vlad...https://www.youtube.com/watch?v=j376nqJgrxU
The weasel even tried to steal Putin's pen!
Fuck me. That is something you will never see in the "free world"
The dog and pony show trots on. Just need to figure which is the dog and which is the pony. Then again, who cares? SOS, just a different day.
Two things to consider are
1. http://tinyurl.com/pgp9su4
and
2. http://tinyurl.com/oqeqcbo
But the idea that Obama - the puppet of the Chicago Zionist network that groomed him - "told" Yellen to do anything is preposterous.
--AIPAC's Fed Candidate Stanley Fischer on a Warpath against Iran: Dual-citizen nominee's lifetime benefit to Israel comes at a heavy cost to America
http://www.irmep.org/fischer_aipac.htm
^^^
keynsian/liberals are intent on ZIRP because it encourages/ensures the poor & middle class will take the bait, bite off more than they can chew, and find themselves in a massive debt hole, regardless of the vig.
john adams once said you can enslave people either thru the sword or thru debt.
the keynsian/liberals traded in their swords for their friends the doves @ the central bank. its alot less messy in this new world of social media.
+100
Hi Alice,
It doesn't matter if you use the sword or debt in the end, the torches and pitchforks come out and the fat orouni's heads roll. Then the cycle begins again.
WE NEED GORT!!!
;-D
#2 is dead on target. The 'net is prying their fingers off of White (Christian) America's throat.
Show the TRUTH NOW
http://showrealhist.com
Trump is right. Rates will NOT rise while the Obamination is in office.
IF, a NON Democrat wins the White House, then they will allow the market to free fall.
Gotta keep pushing that NYC Leftist adgenda...so what if a few billion go into poverty. Just blame it on Bush.
Don't bite the hand that feeds you Donald!
Obama has to keep his bankster friends happy so that when he goes out to give speeches, they will have to pay him a load of cash as payback. Hillary is the perfect example. Why in hell would anyone pay these idiots to give a speech unless payback is involved. Obama will probably get $500k a speech for protecting wall street for 8 years.
yeah and President Trumps first call to the Fed will be to instruct Janet Yellen not to raise rates. gee why didnt i think of that?
He's got the right idea, but yea - Obama's got about as much input as I do....
I don't think hanging his hat on Barry's golf game is going to matter much. He'll be playing the same golf regardless. I don't think Barry will have much concern once his eight years are done. He'll just gear up for the speaking circuit and wait for his library to be established.
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/american-eagle-1oz-silver-coin-1-dollar-le...
Trump, the trunk of an elephant in a china shop !
Running wild, running strong. (That rhymes with wrong; for the trolls).
Yellen, you are the disease that haunts hubristic Ahab : you are Moby Dick, the white whale that keeps running like a mad print machine of the seven seas all the way to the infinite horizon of the TBTF bankster's monetary web.
And then suddenly returns like backlash to break the Medusa raft of destitute humanity, with its awesome tail of dystopian blow back !
We are in interesting times.
Oligarchy rule now fears populist backlash, neither being the solution to Weimar USA veering to Mein Kampf.
Easy Donald before they Kennedy your ass...
Give that man a Banana!
Mr Trump here has noticed, as have we all, that there's no one at the wheel and the bridge is out.
Sadly it's a situation which cannot be unfucked,a running commentary changes nothing, ours, yours, theirs....
George Soros is the cause of all this fucking if you're looking for a direct source.
If it were only that easy. This is centuries in the making, the list is long and full of cunts.
But it doesn't really matter, we're splitting hairs. When you step in dogshit does the breed of dog it came from matter?
(unless St Bernard of course, then it's in your socks too).
Grab a beer and watch, it's all gonna be pretty interesting. Some of it will be very funny indeed. And some not so much.
No, a rate hike is not now seen as bullish. For the last year all the fed has been doing is talking and not raising while continuing to manipulate the short end of the curve. So the market realizes talk is cheap and the fed is actively supporting stock prices. Furthermore, Yellen isn't tough enough emotionally to withstand a 30% market drop if she raises.
Everything is seen as bullish, when Janet takes a shit that is bullish!
And when Draghi scratches his nuts that is sell the farm and buy buy buy!
Draghi: Hey Janet, Fuck Donald, I got your back!
Janet just shakes the Magic Eight Ball: "Signs say no"
The Magic Negro approves.
It is a game.
Outgoing presidents like to leave big bags of shit on the doorsteps of incoming presidents.
A. it is too early to create the bag of shit
or
B. Ubungo is not planning on leaving
This market is rigged - like I said yesterday, on up days it shoots up and only has shallow 2 to 3 point pullbacks. The S&P is up 5% in 9 trading days - it's actually four trading days since it closed flat last week. Between the 10/22 and 10/23 and 11/2 and 11/3, the S&P has added nearly 100 points. This is after a significant rally off of the lows. It makes no sense to attempt to explain these market fluctuations since it goes up on bad news, good news, rate hike expectations, hold expectations, etc. The S&P trades like a penny stock and people try to put commentary around its movements. Quite hilarious actually.
CNBC is just the best at it: "U.S. stocks traded higher Tuesday, attempting to extend November's gains so far, as investors awaited key economic reports and Fed speakers later in the week".
They have been doing it for so long now, everybody thinks this is normal and nobody question anything anymore...
Orwell predicted it...
The grim reality is Trump's statements clearly indicate his role in this charade.
Obama and Yellen work for the banks.
And Trump knows this, yet puts out a "raise rates" meme?
It's a joke being told in an underground torture chamber.
Like Kerry v Bush, Trump plays the blow-hard evil white billionaire verses the Hillary-Google Good Witch of the North.
Heaven help everyone.
What will this "country" look like in another 9 years?
except that banks HATE ZIRP because their net interest margins are record lows
otherwise your silly conspiracy theory is very compelling
Trump is correct. The Martin Fed was the last non-politicized Central Bank in the USA, with the possible exception of Paul Volker.
Keeping rates near zero is the reason Obama yielded to the feminists and picked Yellen over Summers. Larry Summers was clearly the better choice, as Yellen's dovishness is well known.
Modern feminism owes it's whole existence to the fiat dollar, to pay their salaries. Only fitting to have a woman running the counterfeit machine. The ERA passed Congress just 7 (March,1972) months after Nixon closed the honest money window.
https://en.wikipedia.org/wiki/Equal_Rights_Amendment
Like him or not, but he has got a point...