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The Fed Get Ready To Defend The $!

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What's Spanker going to do about it?

Print some more so they buy up all the excess? :lol:

when is a cure not a cure?

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It is the banks that are defending the dollar because they refuse to lend. If the Fed wants to do something about the dollar it can revoke the guarantee of bank deposits, or they could burn tax receipts.

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It is the banks that are defending the dollar because they refuse to lend. If the Fed wants to do something about the dollar it can revoke the guarantee of bank deposits, or they could burn tax receipts.

"the warning signals have been flashing for years, but of course we find it easier to ignore than to take action"

Sounds like an admission of 'we saw it coming'

Richard Fisher, President and CEO of Fed Reserve Dallas, who is he anyway?

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"the warning signals have been flashing for years, but of course we find it easier to ignore than to take action"

Sounds like an admission of 'we saw it coming'

Richard Fisher, President and CEO of Fed Reserve Dallas, who is he anyway?

At the end of the video he appeared to be blaming the audience for what has gone on. Weird thing to say when you work for the Fed.

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At the end of the video he appeared to be blaming the audience for what has gone on. Weird thing to say when you work for the Fed.

Yeah, like the public have the chance of any say over the operation of the unelected fed. It is they who have direct control over monetary policy, it is they who have destroyed the US or were at least in a position to not follow whatever some politician requested. Quite disgusting buck passing, and just what you'd expect.

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Talk on the graphvine is this guy has won the row & soon we see it.

Mike

"inflation is a sinister beast...."

"the federal reserve will never let this happen, it's not an option, ever, period."

It's a compelling speech and the underlying message is clear if you ignore the distraction at the end about the audience being able to prevent the fiscal distruction!

I'm guessing Bernanke would have seen the speech and allowed the go ahead, so hopefully Fisher has won the row and we will see a change in the near future.

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At the end of the video he appeared to be blaming the audience for what has gone on. Weird thing to say when you work for the Fed.

Actually it wasn't at the end of the video, it was at around 3:30mins.

this situation is your creation; when you berate your representatives or your senators or presidents for the mess that we're in you're really berating yourselves. You elect these people, they serve the will of the people. You're the ones, every single one of you when you look in the mirror and think about this, you're the ones who let them get away with burdening your children and grandchildren, rather than yourselves with the bill of these entitlement programs.

And he is talking here about Government borrowing which is not the responsibility of the Fed, but they are still responsible for commercial bank inflation which is similar.

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I think Fisher is the guy who was harangued every day by his hosts about America's fiscal policies on a recent visit to China. It was certainly someone from the Dallas Fed.

Yep,

Actions speak louder than words though.

http://www.time.com/time/nation/article/0,...1902340,00.html

Richard Fisher, president of the Dallas Federal Reserve Bank, just returned from a trip to China, where, he told the Wall Street Journal, "senior officials grilled me about whether or not we are going to monetize the actions of our legislature. I must have been asked about that a hundred times."

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It's not what they say - it's what they do.

Remember all that bluster about not letting the banks off the hook ... and then slashing interest rates and pumping hundreds of billions into bailouts.

One thing that has been consistent in this crisis is that central bankers will say one thing and do the opposite. They are saying it so you think that they are serious. Right now they are worrying about people not buying bonds so they are trying to make out that they are serious about doing what it takes to fight inflation in the hope that buyers believe them and they don't actually have to do anything.

If they are called upon to fight inflation, you can bet that it will be too little too late. The Powers That Be have an appalling record in inflation control, their form is that they only understand inflating bubbles as a means to providing economic success .. and it's quite clear anyway that inflating the debt away is the only way out for over-indebted states like the US and UK.

The only question is "will the Chinese believe them"?

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It's not what they say - it's what they do.

spot on- excellent points

i disagree on one point - the chinese - i dont believe they are that important to the yanks - there money is replaceable

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I've got to agree - it's far too easy to just print money. With their economy tanking, employment rising, can they afford to raise rates to save the dollar ? They'd want to continue devaluing to make exports cheaper. In a globalised economy they'll have to start competing on price - can't keep offshoring jobs to make imports cheaper if no one is left to buy everything. So I just can't see them doing what they say they want to do.

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