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THE FED--are we being Conned????, "regulators"
flower
post Posted: Oct 29 2011, 11:01 AM
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According to the analysts polled for our special report, the Fed will probably refrain from introducing important changes to the monetary policy during the upcoming meeting on November 2.

http://www.fxstreet.com/fundamental/analys...nks/2011/10/28/

If one took the view that this current relief rally is based on the denting of the European debt problems and the impending QE3 from the FOMC, which is the majority view as of today, then somebody is in for one mighty big shock next Thursday morning our time, IMO the FOMC HAVE to do something meaningfull--we shall see.



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Mungo
post Posted: Oct 22 2011, 12:37 AM
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are we being conned lmaosmiley.gif

http://sanders.senate.gov/newsroom/news/?i...d1-45f1a1af10a0

 
flower
post Posted: Oct 13 2011, 12:03 PM
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In Reply To: flower's post @ Oct 12 2011, 08:49 PM

Ten years and Trillions of IOUs later, it surely must occur to even the staunchest Hawk that making bombs, shells and bullets doesn't create anything of value, able to be flogged and turned into Dollars with which to redeem the IOUs.

Hi arty, if supporters of these two FED clowns over the last 25 years (thats how long they have reigned) revel in their achievements somehow dont think the bulk of the world agrees, To have INCREASED US unemployment nearly 30% and to have DEVALUED the value of the USD nearly 40% against a basket of currencies and FLOODED the world with valueless bank paper and ink is no mean achievement, the consequencies of which will no doubt plague our children and grandchildren.

US UNEMPLOYMENT 1986 to 2011
1986-09-01 7.0%
1986-10-01 7.0
1986-11-01 6.9
1986-12-01 6.6
1987-01-01 6.6
--------------------
2011-01-01 9.0
2011-02-01 8.9
2011-03-01 8.8
2011-04-01 9.0
2011-05-01 9.1
2011-06-01 9.2
2011-07-01 9.1
2011-08-01 9.1
2011-09-01 9
Attached File(s)
Attached File  greenspan_bernalke_era.gif ( 8.53K ) Number of downloads: 5

 




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hoaky
post Posted: Oct 12 2011, 11:45 PM
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In Reply To: flower's post @ Oct 12 2011, 08:49 PM

thought arty got it pretty much in a nutshell. Script was written by the hawks pre 9/11 and the multi theater wars, that protect the USD interests, are coming along nicely - pax americana
Statement of principles by our neocon friends
QUOTE
We aim to change this. We aim to make the case and rally support for American global leadership. June 3, 1997
http://www.newamericancentury.org/statementofprinciples.htm

QUOTE
REBUILDING AMERICA’S DEFENSES
Strategy, Forces and Resources For a New Century

ESTABLISH FOUR CORE MISSIONS for U.S. military forces:
• defend the American homeland;
• fight and decisively win multiple, simultaneous major theater wars;
• perform the “constabulary” duties associated with shaping the security environment in
critical regions;
• transform U.S. forces to exploit the “revolution in military affairs;”

http://www.newamericancentury.org/Rebuildi...casDefenses.pdf


As for Greenspan, he must be teasing. Ann Rand was his best friend, not Brooksley Born and there is an excellent documentary coming up on tuesday night by Adam Curtis that covers some of this relationship; I just watch them on youtube though cause I tend to rewatch them a bit.
QUOTE
Brooksley Born Excoriates Alan Greenspan: “You Failed”

At today’s Financial Crisis Inquiry Commission hearing, Brooksley Born, the former head of the Commodity Futures Trading Commission, declared Alan Greenspan’s tenure at the Federal Reserve an unmitigated failure – to his face.

Born, who pushed to strictly regulate derivatives under the Clinton Administration, but lost the battle to, among other people, Alan Greenspan, told the former Federal Reserve chair that his agency “failed to prevent housing bubble, failed to prevent the predatory lending scandal, failed to prevent the activities that would bring the financial system to the verge of collapse.”

http://news.firedoglake.com/2010/04/07/bro...pan-you-failed/


QUOTE
Larry Summers, Rubin’s deputy, called Born and “chastised her for taking steps he said would lead to a financial crisis.” And “On June 5, 1998, Mr. Greenspan, Mr. Rubin and Mr. Levitt called on Congress to prevent Ms. Born from acting until more senior regulators developed their own recommendations.” A year later, “they recommended that Congress permanently strip the C.F.T.C. of regulatory authority over derivatives.”

http://crookedtimber.org/2008/10/09/brooks...alan-greenspan/





Said 'Thanks' for this post: arty  
 
flower
post Posted: Oct 12 2011, 08:49 PM
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In Reply To: arty's post @ Oct 12 2011, 07:36 PM

If there was any "con" involved, the blame has to be laid squarely at the feet the Unholy Triumvirate of one President and two Crime Ministers. It was they, who used non-existing Weapons of Mass Destruction in "Their" hands as an excuse to unleash Weapons of Mass Destruction in "Our" hands on peoples they didn't like.
Ten years and Trillions of IOUs later, it surely must occur to even the staunchest Hawk that making bombs, shells and bullets doesn't create anything of value, able to be flogged and turned into Dollars with which to redeem the IOUs.

So---you blaming the current world financial shambles on the Bush Wars? Did you watch the video? Get real for heavens sake the DEBT was caused by the two FED nutters named who simply poured jet fuel post dotbomb on already burning inflation fires, which has solved FA. At least Paul Volcker (named in the vid) did have a shot at bringing things into temporary equilibrium. Was high inflation the right solution? Do you now want hyper inflation? The rot set in 20 odd years ago.



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arty
post Posted: Oct 12 2011, 07:36 PM
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In Reply To: flower's post @ Oct 12 2011, 06:43 PM

QUOTE
two disasters--Greenspan and Bernanke

Whoa! Sir Alan G. a disaster?
Her Maj certainly didn't think so when she bestowed a knighthood on him.
And if I cast an eye back over the years of his reign as Chairman of the Fed, especially the rise and rise of our economy as depicted by the monthly chart of the All Ordinaries, I'd only wish we'd been conned some more by Sir Alan.

Attached File  s_reign.gif ( 31.89K ) Number of downloads: 9

If there was any "con" involved, the blame has to be laid squarely at the feet the Unholy Triumvirate of one President and two Crime Ministers. It was they, who used non-existing Weapons of Mass Destruction in "Their" hands as an excuse to unleash Weapons of Mass Destruction in "Our" hands on peoples they didn't like.
Ten years and Trillions of IOUs later, it surely must occur to even the staunchest Hawk that making bombs, shells and bullets doesn't create anything of value, able to be flogged and turned into Dollars with which to redeem the IOUs.



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 


flower
post Posted: Oct 12 2011, 06:43 PM
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3 minute video---not so much are we being conned, more we HAVE been conned by two disasters--Greenspan and Bernanke.

http://www.bloomberg.com/video/77330614/



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hoaky
post Posted: Oct 1 2011, 11:18 AM
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In Reply To: flower's post @ Oct 1 2011, 10:30 AM

maybe central banks are the barbarous relic?

The Origins of Central Banking:
Solutions to the Free-Rider Problem
J. Lawrence Broz

Certain domestic institutions are sources of international power, by way of their
abilities to encourage investment and to mobilize social resources in wartime. For
example, states with democratic institutions almost always win the wars they fight, a
regularity known as the ‘‘democratic advantage.’’1

What then explains the incentives of self-interested and free-riding individuals to contribute to institutions that bind governments?

Sovereigns, they argue, needed loans to finance wars but were
constrained by citizens’ fears that monarchs would exploit their abilities to default
with impunity after the war. In other words, monarchs faced a problem of time inconsistency
and credibility vis-a`-vis domestic actors: because they could not credibly
commit to their promises to respect property and to pay debts, sovereigns suffered,
not least in their ability to mobilize credit in wartime. The solution was to delegate
power over government credit decisions to Parliament and a central bank. By relinquishing
authority over lending decisions to Parliament, the Crown gave representatives
of wealthholders veto power over decisions about honoring loan agreements,
lowering the probability of default.

Britain’s superior financial, economic, and military
performance after 1689 rested in large part on the establishment of the Bank of
England.2 The central bank provided a commitment technology that improved the
government’s ability to borrow, a need impelled by intense military competition.

Sovereigns, they argue, needed loans to finance wars but were
constrained by citizens’ fears that monarchs would exploit their abilities to default
with impunity after the war. In other words, monarchs faced a problem of time inconsistency
and credibility vis-a`-vis domestic actors: because they could not credibly
commit to their promises to respect property and to pay debts, sovereigns suffered,
not least in their ability to mobilize credit in wartime. The solution was to delegate
power over government credit decisions to Parliament and a central bank. By relinquishing
authority over lending decisions to Parliament, the Crown gave representatives
of wealthholders veto power over decisions about honoring loan agreements,
lowering the probability of default. The Bank of England, however, was crucial. ‘‘In
view of its services to the stability of public finance and the improvement of public
borrowing from the year of its foundation, it is hard to resist the conclusion that no
institution contributed more to the stability of the Revolution settlement or underwrote
more effectively the liberties that Englishmen enjoyed during the eighteenth
century.’’6

http://mitpress.mit.edu/journals/Inor/pdf/..._52_2_231_0.pdf

wars a racket, stop leveraging it


 
flower
post Posted: Oct 1 2011, 10:30 AM
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The FED's "unacceptable low inflation rate is 2.297%" the current chart enclosed shows it is just on that level, chart also shows inflation peaking at 3.2% in June. Given the market turmoil that in fact has been with us since June 30th when QE2 finished, it is perfectly clear that they (the FED) have NO choice but to embark on QE3, its not a matter of IF--but only WHEN.

Helicopter Ben will be in front of Congress twice before the next FOMC meeting, so watch out for the early clues. Very few Central Bankers have ever had to ENCOURAGE inflation.

btw: Try telling the US consumer inflation is only 2.297%---are we not all being conned!

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Attached File  picture_2.png ( 8.69K ) Number of downloads: 0

 




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flower
post Posted: Sep 25 2011, 02:39 PM
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In Reply To: hoaky's post @ Sep 25 2011, 12:22 PM

Hi Hoaky, thanks for both those, the Marc Faber video really makes one think.

If he is correct, then there is every chance the ASX200 will revisit the 2008 lows and maybe even the 2004 lows, that alone on top of the worlds existing political/economic woes would be simply devastating for the unemployed and retirees, the latter in extreme state of concern already.

Both commentaries see Q3 as inevitable, but for God's sake why wait until we have yet another full blown crisis before taking the only action available, that is if someone doesn't go that one step further and make those that are technically bankrupt actually go bankrupt, at the same time increasing US interest rates dramatically thereby solving the problem created by Greenspan, but the cost turmoil wise would be far too great.

So what happens between now and November, when both see QE3 most likely to happen--is the ASX200 to descend daily by 3%?

What will be left to be salvageable come November?

Sorry--dont buy that. China has NOT YET collapsed, OK so it might SLOW from 9% growth annually to 5%--but that aint bankrupcy making material. Cannot beleive that Q3 will wait that long to be implemented given Obama's perilous political position.

Mind you as benefit it should force another General Election on Australia and bring in another right wing government!
Attached File(s)
Attached File  BUST.gif ( 9.45K ) Number of downloads: 6

 




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