Posts tagged “Federal Reserve

Tyler Durden on the elites who have lost their way: “This is financial war make no mistake about it.”

Tyler Durden at Zero Hedge has penned an excellent article that is finding it’s way around the net and is definitely worth a read.  He hits the nail on the head several times.  Here’s a few excerpts:

What I discovered as I interviewed for jobs disturbed me right away.  Every single firm with the exception of one was completely obsessed with math.  Entire interviews revolved around “how quantitative are you” and the like.  Although I hadn’t had much experience with investing I had enough to know this line of thinking seemed preposterous.  It seemed to me only basic math skills are necessary to be a successful equity investor.  Besides that, it seemed that the key is understanding that the world is always changing rapidly under the surface and therefore what is a good business today might be bankrupt tomorrow and what is a start up today could be the next Microsoft.  This seems obvious but the skill set to figuring all this out is more geared to an appreciation of human psychology, historical cycles and cultural shifts (both fads and structural changes) than math.  What I realized later is the reason they were so focused on mathematicians and Phd’s is that Wall Street was moving away from what it was always meant to be – a conduit between the holders of capital and those that wish to deploy that capital in productive economic activity.  Rather than trying to hire a well rounded workforce of intelligent college graduates the firms were hiring a cadre of quantitative robots that would play an instrumental roll in blowing up the world’s financial system.

… and this:

As far as the speech itself, it confirms something I mentioned several weeks ago.  Banana Ben absolutely wants to do a massive QE2 program. The only thing holding him back is gold is near an all time high.  What he wants is gold much lower and stocks much lower to give him cover.  Gold has not cooperated so he is in a bind.  He cannot print a massive amount of money with gold here and stocks at 1055 because what happens if gold soars and stocks sell-off in the days that follow such an announcement?  What if the response in the treasury market is not as desired?  He is scared to do it here and he is right to be scared because such a reaction would be the end of the Fed right then and there.  The Fed will be gone anyway within a few years in my opinion but it’s going to fight hard to survive and if you want to make money in this market you need to understand that.  The most powerful institution in the world is fighting for its survival.  Never forget that.

From The Truth in Money Book by Theadore R. Thoren and Richard F. Wagner


Goldscam hits the mainstream.

‘Goldscam’, the developing story of precious metals price manipulation at the LBMA appears to have finally hit the mainstream press.  Tyler Durden at Zero Hedge reports that “… the gold manipulation story that Zero Hedge and select others have been beating a drum over for months, had finally made inroads into the broader public, first via the Huffington Post, and earlier today via the NY Post. It has also gone global thanks to the Melbourne Herald Sun, the largest newspaper in Australia, whose column by John Beveridge “More bull than bullion” is reproduced below, courtesy of the GATA.”

Here’s an excerpt from the article at the New York Post:

“JPMorgan acts as an agent for the Federal Reserve; they act to halt the rise of gold and silver against the US dollar. JPMorgan is insulated from potential losses [on their short positions] by the Fed and/or the US taxpayer,” Maguire said.

Read more:

Debt denial: “Federal Reserve Note.” Give the Fed credit for full disclosure; these notes are liabilities."

Here is what James Rickards has to say about “Debt Denial” at The Daily Caller.  $5500/oz. Gold Anyone?

Even what we call money is debt. Paper money is a contract between citizen and government. As with any contract, it pays to read the fine print. Embossed on each U.S. bill is the phrase “Federal Reserve Note.” Give the Fed credit for full disclosure; these notes are liabilities. If the Fed’s mortgage assets were marked-to-market the Fed itself would be insolvent. In short, it’s all debt. Wealth is illusory if it involves a claim payable in dollars which are but a claim on an insolvent central bank backed only by its ability to print more debt. The situation is worse in the UK, Europe and Japan. The global financial system is a rope of sand.

Read more:

Dylan Ratigan on the FED and "The Greatest Con Job in the History of the World" | Ron Paul 2012 | Campaign for Liberty at the Daily Paul

Vodpod videos no longer available.

more about “Ratigan on Godfather Al Greenspan“, posted with vodpod

Tjeffersonghost: WARNING!!! If you have anger management issues don't watch this video …

This is a terrific video that can be found at The Market Ticker:

This is from “Tjeffersonsghost” on Youtube, and no, that’s not me.

I can’t argue with anything in here though…..

You’d think that by now, Americans would have had enough – and would be on a general strike ala France – the nation about which jokes are often told about military rifles for sale – never fired, only dropped once.

Yet in our fine nation, American Idol is on.  Or maybe, this week, it will be the NFL, or the NCAA semi-finals.

Wake up America.

Vodpod videos no longer available.