Thursday, February 2, 2012

Disclosed: Fed Prez Who Owns Over $1 Million in Gold

Earlier this week I reported that New York Fed President Bill Dudley owned over $1 million worth of Treasury securities whose interest climbs with increasing price inflation.

Now comes word that Dallas Fed president Richard Fisher owns over $1 million dollars of gold.

One has to ask, do these guys take themselves seriously as inflation fighters if they have these kinds of positions in their personal portfolios?

It's a damn joke. It's like going to a doctor who has taken out and insurance policy that pays off on your death.

33 comments:

  1. "It's like going to a doctor who has taken out and insurance policy that pays off on your death."

    Cassano, if you're reading this, there's an opportunity here.

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  2. Fisher is atleast vocal about inflation and pays lip service against perpetual ZIRP!

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  3. I look forward to comments from mankiw et al to the effect that, like Ron Paul, Dudley and Fisher are fringe-type survivalists.

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  4. Funny that.

    And Mervyn King, Governor of the Bank of England (who has stated that deflation is the greateast economic risk), has well over 90% of his pension funds invested in index-linked, inflation protected securities:

    http://order-order.com/2011/06/02/the-bank-of-englands-great-inflation-swindle/

    As always, it's what they do, not what they say.

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  5. Ron Paul owns a lot of gold too and he's running for president. By the same logic, is Ron Paul a joke?

    I'm a pretty fervent Ron Paul supporter and I know he's against inflation (e.g. he was against the stimulus, against raising the debt ceiling, against these expensive wars, against the FED, etc). I'm just saying that, in all fairness, we have to test criteria against the people we support too.

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    1. Ron Paul has gold because he is NOT the president.

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    2. Of course he is against inflation. I'm against inflation. That doesn't mean I don't buy and own gold. You can be against what you see coming and have no control over. Duh.

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    3. That doesn't make any sense. The reason Wenzel is pointing out that those in charge of the state Feds are hedging against inflation because it's a hypocritical role for them to say that inflation is not a serious problem yet are hedging against it at the same time.

      Meanwhile, Paul warns against inflation and actually follows his own beliefs by investing in mining companies and buying gold and silver.

      You are not applying the same logic when you say Ron Paul shouldn't own a lot of gold and run for president at the same time.

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    4. "That doesn't make any sense. You are not applying the same logic..."

      That's why he is anonymous and criticizing Paul.

      I'm no Ron Paul supporter, I see too many holes in the Libertarian philosophy that is counter-Constitutional.....but in many respects, Paul is correct...and at least doesn't waffle from day to day...or lie through his big pearly-whites like Obama every time he opens his trap.

      farang

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    5. There is no contradiction: Paul is for hard currency and practices what he preaches, the Feds are for paper currency but in their own lives do the opposite.

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  6. ^^ There are some dumb people in the Ron Paul movement.

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    1. There are mostly dumb people outside the Ron Paul movement.

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    2. There are 'some' bright people in the OTHER movements.

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    3. There are a lot more brainwashed people in the Democratic movement.

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  7. @Anon 8:45

    Yes, RP owns a lot of Gold because he knows inflation is a threat and understands that these clowns at the Fed are causing it. The difference is, RP does not work at the Fed, does not attempt to manipulate interest rates, does not pretend that inflation is not increasing, and then contrary to these policies 'protect their investments' with inflation protected indexed securities and gold.

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    1. Ron Paul is the only answer to this mess.

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  8. None of this really matters. Jesus will be returning sooon to take away HIS people, then all these banksters, fraudsters, etc...can have all the 'fun' they want in a world ruled by the Prince of Darkness...safe in the knowledge that they will spend an eternity in hell...all for the sake of a few years of living the 'high life'. How sad.

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    1. PRAISE GOD DEAR BROTHER!
      YOU,VE GOT IT RIGHT TO A T.
      THE GOLD WILL BE ASSFAULT AND/OR PAVEMENT?
      THIS NATION NEEDS TO BE SEEKING JESUS CHRIST AS THERE SAVOR/LEADER WITH ALL THEIR HEART AND MIGHT!
      GET BORN AGAIN, NOW ASAP!

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    2. Convert AND buy gold!

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    3. Apparently you haven't read Rev.5:10 and a whole lot of other scriptures. The Messiah is not returning to take away His people from the earth, He is returning as King of kings to rule the earth in justice with His Saints as the above verse clearly states.

      This world is CURRENTLY ruled by the Prince of Darkness and Messiahs return will be to put an END to the misrule of Satan through human proxies on his wave length.

      Your reference to "spending an eternity in hell" exposes the fact that you also believe in an immortal soul which is a PAGAN concept nowhere supported in scripture. Hell is mis-translated from Hebrew terms referring either to the grave or the "Lake of Fire" which will CONSUME the wicked who persist in defying the Creator's laws in spite of having had every opportunity to repent. An ever burning hellfire that tortures rather than consumes is a pagan concept from "Dante's Inferno" and contrary to biblical principals. Torture for eternity makes a loving Creator into a monster just proving that religion (Ra's Legions) have indeed been deceived by Satan as Rev. 12:9 clearly states.

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    4. don't forget about laserus asking for a drop of water to sooth his burnt lips

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  9. Would you rather have a Fed President who was either so poor he couldn't stockpile gold or treasuries, or so dumb as not to have been able to plan for an economic debacle he couldn't prevent? Come on, folks. When did we start teaching our kids not to grow up to be financially successful because the rest of the world would hate and envy us? Is it the American dream to be, like Frank Burns, "so above average?" Let's get the incentives to be a success back into the dream.

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  10. I think you're missing the point anonymous 7:54. If this man is confident in his work, he should be fully invested in the system. Cash, bonds, stocks, etc. This is like a guy who works at a restaurant but tells you he wouldn't eat anything there.

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    1. Exactly. "Actions speak louder than words".

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  11. I for one would rather not have a fed president at all. I don't believe anybody is writing against success. Rather I think most informed people understand that the fed's only purpose is to manipulate the money supply, often to their own advantage. Support Ron Paul and let's get rid of the fed once and for all!

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  12. Ron Paul buys gold because Gods word says buy Gold. (Righteous Money) .Ron Paul is the best for the Nation. Knowing America today they will most likely not choose Ron Paul because lack of wisdom. Most choose for the love of money whats in it for them. Ron Paul keeps everyone on par same rules for all rich ,poor, middle class.Dems can't see this but they should because it helps the poor. The more Obama spents the more the poor gets poorer. They still vote for him GO Figure.(Race,lack of understanding ,unions, a mafia, false health care, so on ).. Sound money makes even the bankers do business correctly. When Jesus comes back for his Church the world will be ruled by the Prince of Darkness for a short while. China does their killings of one third of mankind. Then a Peace Treaty with Israel 7 years. At the end of the 7 years. Anti-Christ rule.Then the whole world will see Jesus coming back as King of Kings to destroy everyone who is against him . Then peace 1000 years. America do some good before he comes for his Church choose the righteous people to be our leader that is Ron Paul. Proverbs says a Good name is to be chosen then great riches. Go America Go Ron Paul

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    1. dude...seriously adjust your meds...you`re a zealot!!

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    2. You are right. The Bible says it all. There is spiritual wickedness in high places..especially The Fed, The White House, Congress, in the United Nations,in unions, in many large multinationals, bureaucracies.. WE need to pray those in authority over us repent of there love of money and power... before it is judgment time for the USA... From a Canadian who loves what America should be, A nation under God.

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  13. Ron Paul buys Gold because God says buy Gold . He knows the paper money is unrighteous money. Gold and Silver is Righteous money in perfect weights and perfect measures. A Righteous Man does righteous things yes mainly in money. Go America Go Ron Paul Come on America turn to the righteous ways. Let Go!.

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  14. Ron Paul buys gold because he knows the system is insolvent. It will collapse if not radically changed.
    Printed money is worthless as post ww II Germany found out when a loaf of bread required a wheelbarrow
    Of money. Gold would have purchased a lot of bread.

    If Ron Paul is right, then why would he trust stocks and bonds. If he invested in these " assets ", he
    Would invest against his own beliefs. Though I am as of now not a Ron Paul supporter for the office
    Of President, I believe he is the only honest candidate regarding the economy. If you don't realize
    This, you need to be investing in wheelbarrows.

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  15. Look, this country is flat broke and there is no way out of a total collapse of the system. It doesn't matter who gets elected except for which one will bring the collapse faster and/or more slowly. Maybe the Lord will come back but not until everything inevitably falls apart. The old song "bring lawyers, guns and money" seems to be more true than ever.

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  16. Gold is not an inflation hedge,it's a dollar hedge!

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  17. Gold these days is like the high dollar mansions that are easy to build but hard to sell. If we went on the Gold Standard what price do set on the conversion date. $5K $100K $1million per ounce. How do buy a hamburger at McD with a gold or even silver coin. Even the penny cost more to make then 1 cent and they want to inflate it to a nickel.
    It is not the gold standard it is the government debt. All these Republicans did not have a problem putting 2 wars on the government credit card when it supported the military / industrial complex that lined their friends pockets but if a Democrat has his hands on the levers of power debt is BAD. The time to reduce the debt was when the economy was booming but the Republicans just spent more and cut taxes.
    The best way to cut spending is to have a balanced budget where your taxes go up when spending goes up. In fact I would collect the taxes first then do the budget the next year so you know what you have in the bank before you spend it.

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