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Genesis Posts: 71421 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1257-I....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-07-23 14:49:11
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Kab Posts: 628 Incept: 2009-04-02 Colorado
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We mean it this time, really!
2009-07-23 14:51:07
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Reza30 Posts: 233 Incept: 2009-02-15
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Unfortunately, we live in a world right now where all lying, cheating, and stealing is allowed as long as it is good for the market. Heck, we have borrowed several trillion dollars, enslaved a whole new generation of Americans, and all we hear about is "DOW back above 9,000." Last modified:
2009-07-23 14:54:32 by reza30
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Otiswild Posts: 1341 Incept: 2009-03-09 
Teegeeack
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Who is more a fool, the jawboner or the one who believes him?
---------- It appears that the yard wolves has grown up. Are we finally finished with the colds dead winters?
2009-07-23 14:55:35
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Waverider Posts: 2785 Incept: 2007-12-23 Chicago
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I think Fiser is a joke. He can be ignored
2009-07-23 14:56:13
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Eli Posts: 3844 Incept: 2007-09-10
Online
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Quote:WASHINGTON (MarketWatch) -- Richard Fisher, the president of the Dallas Federal Reserve Bank, said Thursday that he opposes expansion of the central bank's purchases of Treasurys beyond the planned $300 billion. He is lying but it is the Treasury that is the FEDs bitch not the other way around. The Fed is the one who has taken more power in this game.
2009-07-23 15:00:55
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Vfl Posts: 147 Incept: 2009-03-19 Seattle Metro, WA
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Anybody remember the thing called Debt Ceiling? What Ceiling? Every single time when the ceiling was approaching, then the Con-gress would raise the ceiling. Time and Time again, as reliable as the sun rising and setting. No, the powers that be ( or make that liars that be) in the Fed will do their thing until the market refuses to play. Treat Fisher's talk as a Con to buy more time.
2009-07-23 15:09:00
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Mscreant Posts: 79 Incept: 2009-02-22 State of Anomie
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Everything they do is a con to buy more time.
2009-07-23 15:15:42
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Diogenes Posts: 487 Incept: 2007-08-03 Groningen, Netherlands
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When will people realise that the USA has no central bank like other countries do. The FED is the spokesperson of the banking industry and nothing else. Even they themselves dont claim to be anything else.
---------- The only price discovery that is happening in todays markets is the price wich a society pays when it allows its markets to be run by corrupt bankers.
2009-07-23 15:19:18
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Reza30 Posts: 233 Incept: 2009-02-15
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Karl, so far so good. Your prediction was S&P at about 1,000 this year before crashing down to the 500s. Only time will tell, but I assume you have not changed your prediction.
2009-07-23 16:36:41
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Asimov Posts: 26694 Incept: 2007-08-26 
east tennessee Online
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Bloomberg is talking about this now. Host asked: "Why do it now, in the middle of an economic crisis?" Guest said: "The question is, why weren't they doing it years ago?" He also talked about fasb getting all weak kneed on the m2m issue, but coming out really strong on this. ---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-07-23 16:58:16
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Chris92346 Posts: 647 Incept: 2009-03-25
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QE might have had a chance had the governments need for debt not grown faster than the feds desire to purchase it.
2009-07-23 17:33:05
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Quote:"We dare not come to be viewed as a handmaiden to the Treasury," Fisher said. What does that supposed to mean? They want it the other way around I assume. Anyway he is the pres of the Dallas FRB his vote don't count, gotta be in the New York club to make policy. ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-07-23 19:44:08
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Fugitivekind Posts: 612 Incept: 2007-08-20
Boston
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Fisher did say something believable and smart in May of 2008 with his Storm speech. You could also say he was giving himself cover with that speech however.
---------- "I refuse to leave our children with a debt they cannot repay, and that means taking responsibility right now, in this administration, for getting our spending under control." Barack Obama, Feb. 29, 2009
2009-07-23 20:15:15
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Dashingdwl Posts: 4564 Incept: 2007-06-26
los angeles
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Just like the FASB announcment on Mark to Market. I'm not holding my breath (but I am holding onto my TBT).
---------- Think Green Tip.
2009-07-23 20:28:40
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Zappafan Posts: 750 Incept: 2007-11-30
Atlanta
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Fisher is a pathetic LIAR. Simple math indicates that the Fed is going to be buying a boat load of bonds, as the US debt explodes and the rest of the world cannot mathematically keep up.
---------- Beyond the last mountain, the very last mountain Beyond the last Zimma-ka-Zanna-ka tree Beyond the last woompf bush, the very last the woompf bush There is a vacuous, vacant prairie
2009-07-23 20:33:30
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Nirvan45 Posts: 1578 Incept: 2007-10-31
florida
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I guess they were looking at 10 yr tbill and seeing that line in the sand that gen pointing out So they got nervous and tried to bring it back down. Bond market did not have the audio or writing to his contest so they kept selling 10 yr til end of day. Wonder what they will do if we get one of those 2 point gap tomorrow morning
2009-07-23 20:56:45
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Cuontheotherside Posts: 6 Incept: 2009-05-18
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Is the Treasury Department an agent of the FED? If the FED buys more Treasuries do they gain or BUY more power?
2009-07-23 21:18:54
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Cjhowe Posts: 2 Incept: 2009-07-23
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In fairness to Fisher, he has been the one Fed president that has been outspoken against the majority of the Fed's action since they dipped interest rates below 3.0%. While he was on the FOMC, he was the dissenting vote through most of it. You can find many speeches where he is highly critical of the Fed's actions. He prefaces all of them with overly cautious statements that he is speaking as an individual and not on behalf of the Fed.
2009-07-26 00:34:46
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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He has no choice about the preface because he does NOT represent the committee. But, you are 100% correct, he has consistently disagreed with BB's policies since early 2008. ---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-07-26 00:48:36
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Vegansharky Posts: 832 Incept: 2008-09-20
Orlando, Floriduh Online
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The Fed has in fact done exactly the opposite of exercising its LAWFUL and PROPER authority to stomp on the bad actors, claiming that it "must" due to "systemic risk", but doing so simply means that everyone in the market believes you will do it again and again, because there is in fact never a time that you say "no'. KD ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SNIP: Treasury Secretary Timothy Geithner said Friday that a new agency focused on protecting consumers is needed because the mission currently is too scattered among various regulators. SNIP: Federal Reserve Chairman Ben Bernanke has argued that the Fed is best suited for the role. {sic} because Monitoring risk and protecting consumers are "closely related, SNIP: The administration's plan also would tap the Fed to be the regulator of huge, globally interconnected financial companies whose collapse could endanger the entire U.S. financial system and the broader economy. more: http://www.msnbc.msn.com/id/32123279/ns/.... ******************************************************************* Come on guys, the Fed is fair and objective, and they may be getting more leadway, not less anyway. BB sez we can trust them to decide what is best for us and the World. /sarcastic remark, FYI That is what I love about your OpEd's KD, you watch what they DO, not what they SAY. VS Hi Laura!!!!! ---------- I remember when legal used to mean lawful, now it means some kind of loophole. ~~ Leo Kessler To save money on electricity, we've turned off the light at the end of the tunnel. ~~Unkn
2009-07-26 10:54:47
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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Status - reread Eli's comment. It IS the other way around - the government is owned. They just don't want the little people to realize it because then we might revoke the Federal Reserve Act. Hi, VS! Yes, the consumer benefits from the Fed's decisions - RIIIGHT! /sarc ---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-07-26 22:47:25
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