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Art Cashin On Bernanke's Secret Banker Meeting To Keep Europe Afloat

Tyler Durden's picture





 

Last week Mario Monti, like a good (ex) Goldmanite, did his best to buy what Goldman is selling, namely telling anyone gullible enough to believe that the "European crisis is almost over." Funny then that we learn that just as this was happening, Ben Bernanke held a secret meeting with the entire banker caretel, in which discussed was not American jobs (seasonally adjusted or otherwise), nor $5 gas, but... helping European with its debt crisis. But, but... Mario said. In the meantime, European spreads are back to late 2011 levels.

From UBS Financial Services

Consorting With The Other Side - Fortune broke an interesting story on a private lunch that Bernanke had with some key bankers. Here’s a bit:
FORTUNE -- After completing a series of public lectures in Washington, D.C. last week, Federal Reserve Chairman Ben Bernanke quietly slipped into New York City for a private luncheon on Friday with Wall Street executives.

Fortune has learned that attendees included Jamie Dimon (J.P. Morgan), Bob Diamond (Barclays), Brady Dougan (Credit Suisse), Larry Fink (Blackrock), Gerald Hassell (Bank of New York Mellon), Glenn Hutchins (Silver Lake), Colm Kelleher (Morgan Stanley), Brian Moynihan (Bank of America), Steve Schwarzman (Blackstone Group) and David Vinar (Goldman Sachs).

 

Sources say Bernanke spoke at length about monetary policy, in an apparent effort to persuade attendees that they needed to take a more active role in helping to deal with the European debt crisis. He spent virtually no time discussing regulation, although that mantle got taken up by both Dimon (domestic regulation) and Schwarzman (global regulation).

I find it absolutely fascinating that he concentrated on the problems in Europe and not on U.S. lending or jobs. Is there more connectivity and concern with Europe than we think? We’ll watch more carefully.

...

Well, it was either a discussion of Europe, or Bernanke was getting his semi-annual evaluation from his bosses.

 


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Thu, 04/05/2012 - 09:52 | Link to Comment Colombian Gringo
Colombian Gringo's picture

The big Bankster dick is  always waiting for your asshole. With Austerity, however, there is no money for vasoline and no time for kisses.

Coming to America at a location very close to you

Thu, 04/05/2012 - 09:55 | Link to Comment Chief KnocAHoma
Chief KnocAHoma's picture

He must have been absent from law school the day they taught law.

http://annoyanidiot.blogspot.com/

Thu, 04/05/2012 - 10:01 | Link to Comment j0nx
j0nx's picture

Law is for the people. Law is not for big bankers. I thought this was understood by now.

Thu, 04/05/2012 - 10:05 | Link to Comment Divided States ...
Divided States of America's picture

Next time, someone find the 'location' of these secret meetings and go postal there. That would solve most of the world's problems in one fell swoop.

Thu, 04/05/2012 - 10:10 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Look at those names, tell a story, Dimon, Dimona (!!!), Diamond, Hustler, Crashkari, Fink.....I added a couple for good effect, but they might as well name themselves: Draco 1, Draco2 etc.

Also interesting, some names like Blackstone...Banker? All in all, very shady. Not slim, but verrrrry shady. Todays "feel" is trouble is around ze corner.

And there is naught that 1 can doo.

ori

/police-state-descends-on-america-things-get-nutty-in-india/

Thu, 04/05/2012 - 10:31 | Link to Comment bernorange
bernorange's picture

Bernanke isn't the only one pre-occupied with imminent Euro pain:

"IMF managing director Christine Lagarde implored the United States to help back-stop debt-ridden European countries Tuesday, wading neck-deep into bubbling US political waters.

Speaking in the US capital, Lagarde said the 187-nation International Monetary Fund needed more firepower to tackle financial crises raging around the globe, arguing it was in the US interest to pitch in and help Europe.
..."

http://timesofindia.indiatimes.com/business/international-business/IMF-chief-calls-on-US-for-more-cash/articleshow/12522131.cms

Thu, 04/05/2012 - 10:42 | Link to Comment Badabing
Badabing's picture

FORTUNE -- After completing a series of public lectures in Washington, D.C. last week, Federal Reserve Chairman Ben Bernanke quietly slipped into his ass for a private dildo on Friday with Wall Street executives.

Fixed it!

Thu, 04/05/2012 - 11:05 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

...as Michael Corleone excuses himself and goes into the restroom...

Thu, 04/05/2012 - 10:06 | Link to Comment Gene Parmesan
Gene Parmesan's picture

Yep. This story is further proof that Bernanke is acting way outside of his mandate and has fully assumed the role of Global Puppeteer.

 

Thu, 04/05/2012 - 12:02 | Link to Comment Cat Woman
Cat Woman's picture

And we are the muppets.

Thu, 04/05/2012 - 15:07 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

 

And this:

  "We are the hollow men
    We are the stuffed men
    Leaning together
    Headpiece filled with straw. Alas!"

T.S. Eliot

 

 

Thu, 04/05/2012 - 12:28 | Link to Comment Widowmaker
Widowmaker's picture

What mandate?  Those meaningless syllables?  Lies, nothing but lies (both).

My guess is that he told them Obama loses if they print, music is about to end, and time for a sock puppet Paulson to f-f-f-fuck the p-p-public!

In other words collusion at it's corrupt finest so that the HNW's get to the lifeboats.

"FUCK THE POOR!"

Thu, 04/05/2012 - 13:00 | Link to Comment jcaz
jcaz's picture

Yep- remember the good ole days, when the Fed Chairman would wander across the street alone to weigh in on the Fed decision?    Play briefcase thickness games, because at the end of the day, he was nothing more than a $62K/yr bureaucrat just marking time until retirement....

Now he's running the freaking world.....  Is this REALLY what Congress invisioned back in the day?

Thu, 04/05/2012 - 14:14 | Link to Comment Lednbrass
Lednbrass's picture

Seems like some are beginning to realize they have gone too far. Ive been trying to figure out just how much this new proposed legislation would alter anything if it somehow passed, seems like it would cut down some of the shennanigans if it passed but still lets them monetize if I read it correctly. S.2247 was proposed this week:

http://thomas.loc.gov/cgi-bin/query/F?c112:1:./temp/~c112kjLA9f:e9367:

I dont expect anything to come of it, but it seems a good sign that at least some are beginning to realize that things are amiss.

Thu, 04/05/2012 - 10:11 | Link to Comment Manthong
Manthong's picture

He was getting instructions from the representatives of his boss.

Thu, 04/05/2012 - 09:57 | Link to Comment mess nonster
mess nonster's picture

But with European spreads back to 2011 levels, maybe they're worried that the term "spread 'em" may soon apply to them.

Thu, 04/05/2012 - 10:43 | Link to Comment banksterhater
banksterhater's picture

fumigate him!

Thu, 04/05/2012 - 11:24 | Link to Comment tempo
tempo's picture

New HARP2 supports another economic illusion. This program is for homeowners who have no equity or assets and poor credit. They refinance at low rates and are allowed to miss 2 payments. The estimated $500 billion unpaid mortgage payments represents the total personal spending. This plus the trillion dollar US deficits is the current economic illusion. HARP2 is designed to carry the illusion through the election. Imagine the Federal refi program for people w no assets or credit and house that is underwater. Is this an illusion? BTW some colleges will not issue a transcript to graduates who default on their student loans requiring parents to co sign.

Thu, 04/05/2012 - 09:49 | Link to Comment mushi
mushi's picture

Ready the guillotine again, (bitchez)!

Thu, 04/05/2012 - 09:58 | Link to Comment Chief KnocAHoma
Chief KnocAHoma's picture

The Bernank was blowing them in exchange for debt swaps.

Thu, 04/05/2012 - 10:42 | Link to Comment TuesdayBen
TuesdayBen's picture

The modern guillotine takes the form of a pick-up truck with about 10 well-armed pissed-off Libyans [insert nationality here] hanging all over it...

Thu, 04/05/2012 - 09:50 | Link to Comment over45
over45's picture

kaboom.

Thu, 04/05/2012 - 09:50 | Link to Comment SheepDog-One
SheepDog-One's picture

Disgusting.

Thu, 04/05/2012 - 09:51 | Link to Comment 101 years and c...
101 years and counting's picture

or, simply asking his bosses how much money they would like for him to counterfeit.  and at what level on spx he should begin.  my guess is 900-950. 

Thu, 04/05/2012 - 10:03 | Link to Comment disabledvet
disabledvet's picture

Actually that's what the missive read on SA. "Seeking private sources of funding for the EU." of course nothing happens unless the IMF signs off on it--and that's the United States Senate. Some type of "strategic arms limitation treaty for financial weapons of mass destruction" would be my advice.

Thu, 04/05/2012 - 10:55 | Link to Comment Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

Like the curious incident of the dog in the night.  So who's not on the list this time?

Thu, 04/05/2012 - 11:28 | Link to Comment Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

Citi, Wells Fargo, or any one of a dozen or so European banks.

Did Bob Diamond and Brady Dougan just happen to be in town or did they fly in for the meeting?

Thu, 04/05/2012 - 11:02 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Right, the U.S. senate (which is fully broke) agreeing to bailout more broke sovereigns.  I still don't see why a military take over of America can not occur, especially once austerity is forced upon retired vets and vets returning home to the domestic job market.

Thu, 04/05/2012 - 09:52 | Link to Comment ThisIsBob
ThisIsBob's picture

To big to fail.

Thu, 04/05/2012 - 10:02 | Link to Comment j0nx
j0nx's picture

Too big even.

Thu, 04/05/2012 - 10:05 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

And WE are too small to save!

Thu, 04/05/2012 - 09:51 | Link to Comment sudzee
sudzee's picture

The meeting was called by FED owners. The Bernank only showed up to get his marching orders.

Thu, 04/05/2012 - 10:33 | Link to Comment Lord Blankcheck
Lord Blankcheck's picture

Remeber the lunch on Feb.11,2008 when Bear Sterns was the only big bank not invited?Then that afternoon the massive naked shorts began to take them down.Hmm...

 

Thu, 04/05/2012 - 12:07 | Link to Comment Cat Woman
Cat Woman's picture

12 USC 222

 

Thu, 04/05/2012 - 12:08 | Link to Comment Cat Woman
Cat Woman's picture

12 USC 222

 

Thu, 04/05/2012 - 09:51 | Link to Comment Everybodys All ...
Everybodys All American's picture

Bernanke is a fraud and needs to be removed immediately.

Thu, 04/05/2012 - 10:30 | Link to Comment JohnKozac
JohnKozac's picture

Ben is just the puppet. Read The Creature of Jekyll Island ....the author states the Fed routinely handed (and still hands out) billions of American taxpayer money to other countries under the table and without their consent.

Thu, 04/05/2012 - 09:52 | Link to Comment williambanzai7
williambanzai7's picture

MONTI DUCE

Thu, 04/05/2012 - 10:01 | Link to Comment magpie
magpie's picture

Da Kapo ?

Thu, 04/05/2012 - 09:53 | Link to Comment gamera9
gamera9's picture

Obama relocating the G-8 from Chicago is a tell, glossed over by media.

Thu, 04/05/2012 - 10:23 | Link to Comment CH1
CH1's picture

Telling what?

Thu, 04/05/2012 - 09:53 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

I find it absolutely fascinating that he concentrated on the problems in Europe and not on U.S. lending or jobs. Is there more connectivity and concern with Europe than we think? We’ll watch more carefully.

 

Connectivity? As in the Periphery of Empire being more in need of 'funds' than the average American? How cam you possibly be surprised Art?

 

Thu, 04/05/2012 - 10:05 | Link to Comment azzhatter
azzhatter's picture

but....but... Bob Pissani said we've decoupled

Thu, 04/05/2012 - 11:11 | Link to Comment SwingForce
SwingForce's picture

Not a new idea, CREATURE FROM JEKYLL ISLAND describes history in detail, great book 5th edition.

Thu, 04/05/2012 - 16:27 | Link to Comment Marco
Marco's picture

Once the ball starts rolling on sovereign debt deleveraging it's not going to stop at any borders ... all the trade deficit nations are going down (or to war).

Thu, 04/05/2012 - 09:54 | Link to Comment tony bonn
tony bonn's picture

bernanke and his fellow 1%ers are citizens of the world - america means nothing to these traitors....same is true of the bush crime syndicate and rockefeller axis of evil...

Thu, 04/05/2012 - 09:59 | Link to Comment fuu
fuu's picture

Bernanke = Max Fischer?

Thu, 04/05/2012 - 09:54 | Link to Comment williambanzai7
williambanzai7's picture

THE CHAIRMAN

Thu, 04/05/2012 - 10:15 | Link to Comment Sudden Debt
Sudden Debt's picture

Yep, on this pictures it's becomming clear that Bernie is starting to have a receding hairline...

 actually....

I THINK ALL BALD PEOPLE ARE EVIL!! OMG!! THEY'RE EVERYWHERE!!!

Thu, 04/05/2012 - 10:38 | Link to Comment nabi
nabi's picture

So that's where he keeps that big brain...

 

Thu, 04/05/2012 - 09:54 | Link to Comment JohnG
JohnG's picture

Imagine just one guy with an Uzi making the world a much better place in 5 seconds and smile.

Thu, 04/05/2012 - 09:56 | Link to Comment mc_LDN
mc_LDN's picture

Is there some unknown Fed mandate we dont know about here?

One could say the Fed has a conflict of interest.

The American people have a right to know why Fed went about ensuring it was a "Private" lunch.

 

Thu, 04/05/2012 - 09:56 | Link to Comment SWRichmond
SWRichmond's picture

Can someone please tell me how a Congressionally-chartered entity having private meeting with non-government companies, the subject of which is manipulating a market, is NOT a criminal conspiracy?

Thu, 04/05/2012 - 10:05 | Link to Comment disabledvet
disabledvet's picture

"because no one get's arrested."

Thu, 04/05/2012 - 12:04 | Link to Comment Odin
Odin's picture

The Fed itself is unconstitutional, and thus, criminal. What the criminals do after the fact is secondary.
End the Fed!

Thu, 04/05/2012 - 10:10 | Link to Comment lizzy36
lizzy36's picture

Well in other countries it is, at the very least, corrupt. 

But in the USA it is how crony capitalism works. Or didn't you not get that memo?

I adore how Bernanke told students at his University propoganda tour that he wants to eliminate TBTF and then goes to lunch with the Bankers in an attempt to entrench TBTF.

Thu, 04/05/2012 - 10:14 | Link to Comment bshirley1968
bshirley1968's picture

Time to step it up a bit.  We KNOW all the criminal activity out there, and the criminals are no longer trying to hide it but rather are blatant in their efforts.  When we get headlines like, "Can Markets Continue To Rise If The Fed Quits Printing?" the cat is out of the bag.  The question now is not who is the criminal or what is the criminal activity, but more importantly, what are WE going to do about it?

At some point people are going to have to realize that relying on crooks to deal with crooks is not the answer.  Obviously hoarding gold and silver didn't win us independence in 1776.  Someone needs to find a path to some justice for those that are SUPPOSE to be in charge of that department.

For instance, we all know ObamaCare is unconstitutional.  I didn't need to go to law school or hire a lawyer to tell me that it is unconstitutional.  Funny how our founding fathers wrote that stuff so simple and straight forward so the everyday person could understand their contract with the government and the responsibilities of both parties.  I am pretty sure that I understand what "shall not be infringed" means and yet there are celebrated legal minds with years of "education" much, much more expensive than mine that struggle with simple english statements.  Yet here we are on the verge of the highest court in the land telling us that 2+2 somehow equals something other than 4.  They've done it before and we have let it go.  Whether you agree with abortion or not, you are a simple idiot to deny that life begins at conception.  You may dislike 2+2=4, you may even HATE that it equals 4, but don't be so STUPID as to deny it. At what point will the day come when "freedom of speech" no longer means........FREEDOM OF SPEECH?  When will "right to bear arms" not mean......RIGHT TO BEAR ARMS?  What will we do then?  Point out that something is wrong or that someone has broken the law?  That is all meaningless unless we seek justice.  I'll let you think about the avenue of justice that is the only one that has worked in the past.  If you know of another, please share.  All I can say on the matter is, "punishment DOES deter crime".

Thu, 04/05/2012 - 10:23 | Link to Comment DCFusor
DCFusor's picture

Sure, easy.  It's the feds charter to manipulate markets.  Says right there.  The fed is also privately owned.  Who is to say it wasn't a simple board meeting?

Thu, 04/05/2012 - 10:53 | Link to Comment TuesdayBen
TuesdayBen's picture

So the 'criminal' aspect of the conspiracy is not the Fed, but the Congress for allowing the shadowy powerful beast to exist in its function as watch-dog (apologies to mans' best friend) for the interests of American and apparently also international elite?

Thu, 04/05/2012 - 11:48 | Link to Comment lakecity55
lakecity55's picture

I wish we could get Andrew Jackson back thru a time machine and turn him loose.

Thu, 04/05/2012 - 11:14 | Link to Comment mick_richfield
mick_richfield's picture

because they are one level higher in the hierarchy of power than the people we think of as "our" government?

Thu, 04/05/2012 - 11:43 | Link to Comment Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

They're doing god's work.

Thu, 04/05/2012 - 09:57 | Link to Comment bshirley1968
bshirley1968's picture

I really don't understand who this information is for.  The information I am talking about it that "the economy is imporving and everything will be fine".  Who is that for?  Most people in the retail world are so head-up-ass that they don't have a clue or even care about what is going on so why tell them all is well?  People in the financial world "know" what is going on or should know.  Can there really be people out there in the financial business, handling other people's money that believe the bs the fed and the fed paid media are pumping these days?  Did anyone really believe what Mario was saying about Europe?  At this point, who is that stupid, and still matters in the scheme of things?  Can one be that stupid and maintain some level of importance?  If so, we are in the last days of this empire and a major change is less than 5 years away.

Thu, 04/05/2012 - 10:08 | Link to Comment El
El's picture

I thought I had mistakenly clicked on an Onion link instead of Bloomberg this morning when I stumbled across the most breathtakingly irresponsible, "don't worry, be happy" journalism I have read in a long time... or maybe ever. In short, Mr. Ezra Klein opined that "[i]f Congress is unable to agree on a remedy, the problem goes away on its own."

Why I don't worry about the budget deficit:

Be afaid. Be very afraid.

Thu, 04/05/2012 - 14:16 | Link to Comment Lednbrass
Lednbrass's picture

The vast majority of journalists are flat out idiots but that guy is dangerously stupid.

Thu, 04/05/2012 - 10:16 | Link to Comment SheepDog-One
SheepDog-One's picture

Right bshirley...all this high drama and cloak and dagger to fool who, the sheeple? Why? They dont have any money anyway, why is such elaborate plotting and manipulating needed to fool all these people who dont matter anyway?

Unless maybe theyre scared of the sheeple masses, I dont know.

Thu, 04/05/2012 - 10:21 | Link to Comment bshirley1968
bshirley1968's picture

One of the groups they do truly fear has to be the 401K junkies.  If they ever wake up and get upset with what is going on, take their ball and go home, the apple cart tips fast and furiously from there and there is nothing Bernankster could do to save his precious "economy".

Thu, 04/05/2012 - 12:07 | Link to Comment SoundMoney45
SoundMoney45's picture

All the 401K deposits together are only around 8 months of US government deficit.  Printing money to cover this withdrawal would not be a problem.  Finding physical gold at the current price for this much money would be a problem.  

Thu, 04/05/2012 - 10:54 | Link to Comment Quinvarius
Quinvarius's picture

They want those heads to remain in those asses.

Thu, 04/05/2012 - 09:58 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

THE central bank will not create money interest free.............they wish to strip one bit more of capital before its all gone I guess.

Thu, 04/05/2012 - 10:07 | Link to Comment disabledvet
disabledvet's picture

"Lloyd's of London cuff link approach." possibly...

Thu, 04/05/2012 - 10:02 | Link to Comment mess nonster
mess nonster's picture

"The economy is imporving and everything will be fine".-(sic) Ben Bernanke

"Nothing can possibly go worng" (sic)- Westworld movie blurb

Thu, 04/05/2012 - 10:03 | Link to Comment youngman
youngman's picture

I bet they spent most of the time thinking of a name for the new monitization....LTRO was good..so was TARP...they need a new one for the trillions coming down the pike...above and below the table bailouts...

Thu, 04/05/2012 - 10:18 | Link to Comment TapperIsTicked
TapperIsTicked's picture

Securitarized Helo Investment Trust

SHIT

Next Issue Gentlemen

Thu, 04/05/2012 - 10:04 | Link to Comment azzhatter
azzhatter's picture

Funny Moynahan was there. Who is going to bail out his worthless ass?

Thu, 04/05/2012 - 10:04 | Link to Comment Piranha
Piranha's picture

Go home and turn on the machines....Bernanke get in there and let the money flow :)

Thu, 04/05/2012 - 10:05 | Link to Comment Silveramada
Silveramada's picture

bilderbergers scumbags in action 101

Thu, 04/05/2012 - 10:15 | Link to Comment Dr. Engali
Dr. Engali's picture

Too bad there wasn't some fight club members serving "soup" at that luncheon.

Thu, 04/05/2012 - 10:17 | Link to Comment SheepDog-One
SheepDog-One's picture

Fart on the endive salad.

Thu, 04/05/2012 - 10:20 | Link to Comment ekm
ekm's picture

Up until now I had a human doubt about the mental stability of Bernake and others.

Now there isn't a shread of doubt left in me:

THOSE PEOPLE ARE LIVING IN AN PSYCOPATHIC INDUCING ENVIRONMENT.

Humans cannot save the world. If Benny is aiming to be the Messiah, we all know how it ends.

Thu, 04/05/2012 - 19:18 | Link to Comment Jafo
Jafo's picture

He's not the Messiah.  He's just a very naughty boy!

Thu, 04/05/2012 - 10:22 | Link to Comment bobola
bobola's picture

If it was a secret meeting, how can it be reported..??

Thu, 04/05/2012 - 10:31 | Link to Comment ekm
ekm's picture

Humans always leak stuff.

Thu, 04/05/2012 - 10:31 | Link to Comment ekm
ekm's picture

BAC was sliding down towards $9 and the PPT came and stopped the slide at $9.11. It's $9.32 right now.

Brian Monyhan was in the meeting, so that explains everything.

Question: Since PPT=Primary Dealers is buying up BAC, who will end up owning all BAC?

Thu, 04/05/2012 - 10:32 | Link to Comment slewie the pi rat
slewie the pi rat's picture

“He expects lunches consisting of cold soup, a cold entrée such as lobster salad or fresh grilled tuna on salad, followed by dessert, Mr. Zeugin says.  He eats the three-course meal within 15 minutes, the chef says. Mr. Zeugin says he often spends $3,000 for a weekend of food for Mr. Schwarzman and his wife, including stone crabs that cost $400, or $40 per claw. (Mr. Schwarzman says he had no idea how much the crabs cost.)”

 

http://www.google.de/#hl=de&sclient=psy-ab&q=Stephen+Schwarzman%2C+who+s...

Thu, 04/05/2012 - 10:50 | Link to Comment Quinvarius
Quinvarius's picture

If I had over a billion dollars and a promise to get more from the Fed whenever I screwed up, I wouldn't care how much crabs cost either. 

Thu, 04/05/2012 - 11:39 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i see clonie is out trolling, again and you're having a conversation w/ her about whether you'd care what someone's crabs cost if you had $12 Bil

well, great!

she'll be celebrating 2 weeks on zH on easter!

Thu, 04/05/2012 - 11:44 | Link to Comment fuu
fuu's picture

There can be only 1 pi-rat!

Thu, 04/05/2012 - 11:53 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

L0L

please forgive for not answering my mail under the circumstances

frankly, i thought the site was the best on the planet until all the fuking homie morons "fixed" it.  Hahaha  what a joke!

tyler can stick his central planners where the sun don't shine, imo, fuu!

see ya!

Thu, 04/05/2012 - 13:42 | Link to Comment fuu
fuu's picture

cya!

Thu, 04/05/2012 - 10:41 | Link to Comment tallen
tallen's picture

I bet the majority of time spent at the meeting was to discuss alternate prostitutes now that those in spain are boycotting bankers. Poor guys.

Thu, 04/05/2012 - 10:42 | Link to Comment ivars
ivars's picture
USDx and gold moving up

USDx and gold moving up together is part of the long term scenario until USA starts to default on its debt in 2016:

Here:http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=1680#p37097

Supported by older charts (may be USDx value  in 2012 =120 is a bit exaggerated, I think the chart is also a  bit too compressed to the left, but the general trend is clear-once points of USDx above 80 start to appear consistently, I can make more accurate time scale):

USDx

http://www.tfmetalsreport.com/comment/78039#comment-78039

Gold:

http://www.tfmetalsreport.com/comment/83978#comment-83978

Its too early to say if that is a clear change of trend already, but knowing that EUR has only one way to go from now on, it might well be the time has come.

Tue, 04/10/2012 - 00:50 | Link to Comment MeelionDollerBogus
Thu, 04/05/2012 - 10:46 | Link to Comment Quinvarius
Quinvarius's picture

I can't imagine having to be in the same room as Jamie Dimon's whining ass for more than 5 minutes.  You all should pity Bernanke.

Thu, 04/05/2012 - 10:52 | Link to Comment manhunter
manhunter's picture

Under the $IMF all currencies are derivatives of the dollar, and all debt is supportive of the $IMF. Debt failure is unacceptable to USA which needs to maintain the debt to maintain its trade deficit. Fail the debt, fail the dollar, transition to euro/freegold. The US is the infinite debtor of last resort, as long as the system remains intact.

Thu, 04/05/2012 - 10:53 | Link to Comment Darth Silver
Darth Silver's picture

Tyler,

How worried do you think the Fed is about their little European Swap Book problem?  Me guesses, the cancer is running fast through their books... let's see when someone breaks and lets the news leak.

KPD

Thu, 04/05/2012 - 10:55 | Link to Comment spanish inquisition
spanish inquisition's picture

There is nothing wrong here people. Just a shareholder meeting where Ben is getting input on what needs to be done to save the FED and its private owners interest.

Thu, 04/05/2012 - 10:59 | Link to Comment digalert
digalert's picture

The first thing the Bernank did with the initial $700b TARP was send $553b to foreign banks...

http://dailybail.com/home/alan-grayson-which-foreign-banks-got-the-feds-...

Thu, 04/05/2012 - 11:04 | Link to Comment Stock Tips Inve...
Stock Tips Investment's picture

I think that this one very clear intention of Bernanke. One of the great dangers of "artificialplan" is Europe. This plan has several well defined stages. The first is to inflate the valueof financial assets (that is the reason for the rise of Wall Street). This results in the population, the feeling that they have greater wealth. Then the second stage is that some of this increased wealth is intended for consumption. Consumption increases, it generates a sense of economic reactivation. Industries increase their production andemployment begins to improve. All this leads to an increase in bank credit and financial system is reactivated. Recently at the time, begin to improve the situation of the realstate.
So if financial assets fall in price by a problem in Europe, the FED whole house of cards  falls also. So his interest in Europe.

Thu, 04/05/2012 - 11:18 | Link to Comment manhunter
manhunter's picture

FOA: Every time the ECB doesn't "blink", ANOTHER economic nation block looks closer at the EuroZone as the backing economy for a new reserve currency. As each day passes with the EuroZone showing even marginal growth without the benefit of an American style trade deficit, the internal economic dynamics of the USA builds against it's dollar management policy. Eventually forcing the US into a full blown super inflation that has no limits.

Thu, 04/05/2012 - 11:34 | Link to Comment vigged6
vigged6's picture

here is Fed's response to a request for some transparency on what was discussed at this SECRET meeting:

Thank you for your recent correspondence to the Federal Reserve Board. We appreciate your willingness to share your views.

The Federal Reserve Board conducts its meetings in compliance with title 5, section 552b, of the U.S. Code, known as the Government in the Sunshine Act. The public is welcome to attend all meetings except those that the Board determines should be closed under legal exemptions defined in the Sunshine Act. For more information, please visit http://www.federalreserve.gov/aboutthefed/boardmeetings/meetingdates.htm.

I hope this information is helpful.

Sincerely,

LOD
Board Staff

Original Email Content:

To federal Reserve,

It is appalling to learn that Dr. Bernanke a attended a secret (ie. non-transparent) meeting with Banking CEO's without any press release of what was discussed. This lack of transparency is exactly what leads many Americans to see the FED as the morally corrupt institution it is.

The Federal Reserve should release the inside information Dr. Bernanke gave to these Bankers.

Where's the transparency??

Thank you,

 

Thu, 04/05/2012 - 11:41 | Link to Comment cymro33
cymro33's picture

Smell the roses, Bernanke was meeting with his bosses.

Thu, 04/05/2012 - 11:37 | Link to Comment cymro33
cymro33's picture

Should read "Ben Bernanke held a secret meeting with his bosses"

Thu, 04/05/2012 - 11:42 | Link to Comment jack stephan
jack stephan's picture

Jonathan West, ventriloquist, a master of voice manipulation. A man, late of Ireland, with a talent for putting words into other peoples' mouths. In this case, the other person is a dummy aptly named Caesar, a small splinter with large ideas, a wooden tyrant with a mind and a voice of his own who is about to talk Jonathan West into the Twilight Zone. 

Thu, 04/05/2012 - 11:58 | Link to Comment Bartanist
Bartanist's picture

Maybe the US government should throw the world a few curveballs.

1. Forget being the military tool of the banking empire

2. Forget doing the dirty work for the "hide behind their ancestor's skirts" elitist families

3. Forget pushing the Israeli/Zionist agenda.

GROW SOME REAL BALLS!

Maybe the US should turn the war machine on Europe, bugger the queen and the pope and actually take the freedom that people have been deluded into believing they have.... wait, did I just put that in writing? lol, here come the black helicopters.

Thu, 04/05/2012 - 12:05 | Link to Comment Joebloinvestor
Joebloinvestor's picture

Don't think I am kidding about Ben wanting the "Saviour of Europe" statue of him erected.

I hope they pull it down in his lifetime just like Saddams.

Thu, 04/05/2012 - 12:12 | Link to Comment rosiescenario
rosiescenario's picture

There is a certain deja vue quality to this meeting....LTCM comes to mind....anyone not going along with the cartel will be later taken out and shot, at an appropriate time, as Lehman proved.

Thu, 04/05/2012 - 12:19 | Link to Comment Widowmaker
Widowmaker's picture

The motherfucking definition of central planning.

END THE FRAUD CARTEL!

Thu, 04/05/2012 - 13:35 | Link to Comment CaptainTripps
CaptainTripps's picture

WTF! all these guys need to be ARRESTED!!!!!!! 

 

 

NO JOKE...people are looking for who the criminals are? all those guys in that ROOM are

 

where are the US MARSHALLS?

Thu, 04/05/2012 - 15:15 | Link to Comment LarryDavis
LarryDavis's picture

I wonder if any insider information was conferred at this lunch?

Thu, 04/05/2012 - 15:19 | Link to Comment LarryDavis
LarryDavis's picture

Ben: How's does Maria's pussy smell?

Jaime: Good. I put this weird leather strap in her ass that I took off this dead hooker at this beach resort in Thailand.

Ben: So we are gonna keep interest rates fixed and buy trillions in stocks. 

Jaime: Great. I'll let our people know.

Ben: How are you kids in the Dominican? 

Jaime: Awesome. Child support is only $27 a month down there.

Ben: Way to cut down.

Jaime: Gotta run. I need siphon some money through fees. Just bought some new dogs.

 

Thu, 04/05/2012 - 15:40 | Link to Comment Carl Spackler
Carl Spackler's picture

Gotta agree with Gene Parmesan.

On the surface, it sure looks like Bernanke is operating way outside the constructs of the Federal Reserve Act, trying to be the savior of the Western World.

So, how close is European banking to collapsing? 

(Well, how close are the current equity investors to getting wiped out and governments stepping in to "socialize" the problems.) 

Sounds like a good reason for Europeans to buy gold.

 

 

Thu, 04/05/2012 - 15:51 | Link to Comment Olympia
Olympia's picture

The over-profits of the shark loans in the USA not only did not turn their dollars into inflationary money, but also they were multiplied and exported abroad in the form of “investments”. The illegally “increased" dollars of the internal USA economy become tons of “investments” abroad. FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing” ...the first state that burdened the international economy with its “breathing” ... and this is where everything started ...this is where the current shabbiness started, Loan sharks that are international today and “hide” behind the vague term of “Markets” are in fact the old loan sharks of the American market. They by controlling the USA monetary system “pumped in air” constantly in order to make profit from the USA “breathing”.

 

http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html

 

 

Authored by PANAGIOTIS TRAIANOU

Thu, 04/05/2012 - 16:00 | Link to Comment Temporalist
Temporalist's picture

90 Seconds with Art Cashin: Bernanke's Wall St. Lunch:

http://video.cnbc.com/gallery/?video=3000082281&play=1

 

Fri, 04/06/2012 - 04:18 | Link to Comment Troncom
Troncom's picture

Where's Frank Drebin when you need him

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