Monday, June 16, 2014

Three Fed Nominees Sworn in Just in Time for Meeting

President Barack Obama‘s three latest picks for the Federal Reserve Board, including super inflationist Vice Chairman Stanley Fischer (SEE: New Fed Vice Chair Will Be a Disaster for Economy) , have been sworn in just in time to participate in a two-day policy meeting this week.

Former Treasury official Lael Brainard was also sworn in, along with Jerome Powell, who has been reappointed for a second term at the board. The oaths were administered by Fed Chairwoman Janet Yellen in the Fed board room, the central bank said Monday.

(Via WSJ)

1 comment:

  1. How Did This Happen?

    I will give you a little perspective on this $29 trillion dollar figure because big numbers are thrown around like penny candy these days and we have become numbed (dumbed) down by such huge numbers. My point is this, there is no longer any shock value to any number no matter how large it is.

    OK, in perspective, the value of all stock markets on the planet added together is about $62 trillion. Now it is revealed that $29 trillion or so has come from the world’s central banks. How did this happen? Do central banks have an extra $29 trillion to throw around? The answer of course is no they do not …unless they just print it up and presto …there it is ready and able for whatever folly they choose. For a little more perspective, the Federal Reserve supposedly has a total balance sheet of some $4.5 trillion or about 15% of this $29 trillion (I dropped the “.1″ because it’s only $100 billion). But, this $4.5 trillion is all accounted for as being invested in treasuries, agencies …and some “junkier stuff.” Please don’t tell me that the world’s central banks are doing something that the Fed is not… or worse, the Fed is doing something that they are not admitting or accounting for!

    Do you understand what this really means? The Fed (central banks) own nearly 50% of all stocks. This means that yes, stocks are really manipulated and the tin foil hat crew was right again. It means that central banks can keep on creating fake money and putting that money into stocks to create fake(r) values…or …they can tank all of the stock markets worldwide at will with the press of a single button that has the word “sell” on it.

    Going even further down the rabbit hole, this means that central banks own nearly half of the equity in all publicly held businesses. It means that by simply printing money, they have “privatized” the world! Of course, there is no telling as to when exactly this scheme started but let’s assume that sometime late in 2008 or early ’09 would be a good guess. The markets needed support and it was a good entry level. Maybe this was something that “just happened” and then morphed into its current size? Maybe it wasn’t on purpose? I doubt this is the case as everything is orchestrated today, as the CIA is well known for saying, “There are no coincidences.” Who will the central banks sell to if they want out? Ahh, but why would they want out when they hold almost a majority position of the entire world.