FED news conference

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Anarchist420

Diamond Member
Feb 13, 2010
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I started watching it, but it got too boring and didn't tell me anything I wanted to know.

Bernanke is also a liar and makes loaded statements, so it isn't really worth listening to any speeches he makes.
 
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matt0611

Golden Member
Oct 22, 2010
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Yep, saw it, he said basically nothing we didn't already know.
It was just a bunch of reporters asking questions about how the fed could "save us" from stuff.

As I predicted, dollar index declined, metals spiked (gold just hit new highs) and we continue the course.
 
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piasabird

Lifer
Feb 6, 2002
17,168
60
91
They should take all of the money from the revolving fund away from the Fed before they waste even more of the taxpayers money. It is like a thief with his hand in the kookie jar and you keep buying more cookies.
 
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matt0611

Golden Member
Oct 22, 2010
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Anybody else notice how many times a questions came up "what about this X, what will the fed be doing about that" and then he said something along the lines of "yeah, we'll be watching that..." ?
 
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LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
a777pilot said:
Anyone besides me fed up with the Fed?
Click to expand...

Without the Fed we'd be fucked by China. They are about the only thing standing between us and utter economic ruin.

What's sad is that most Americans can barely understand how bad our situation would be without a central bank, especially when every other country has one and are fucking us on purpose.

Perhaps you should get educated a bit before you make moronic statements.
 
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LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
matt0611 said:
Anybody else notice how many times a questions came up "what about this X, what will the fed be doing about that" and then he said something along the lines of "yeah, we'll be watching that..." ?
Click to expand...

If you say what you're going to do in 6 months it's effectively going to be priced into the market instantly.
 
wuliheron

wuliheron

Diamond Member
Feb 8, 2011
3,536
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a777pilot said:
Anyone besides me fed up with the Fed?
Click to expand...


Off with their heads!

images
 
a777pilot

a777pilot

Diamond Member
Apr 26, 2011
4,261
21
81
LegendKiller said:
Without the Fed we'd be fucked by China. They are about the only thing standing between us and utter economic ruin.

What's sad is that most Americans can barely understand how bad our situation would be without a central bank, especially when every other country has one and are fucking us on purpose.

Perhaps you should get educated a bit before you make moronic statements.
Click to expand...

What is the pupose then of the Fed?

This ought to be good.
 
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Darwin333

Lifer
Dec 11, 2006
19,946
2,330
126
a777pilot said:
What is the pupose then of the Fed?

This ought to be good.
Click to expand...

Per their mission statement put in place by Congress:

Today, the Federal Reserve's duties fall into four general areas:


conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates

supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers

maintaining the stability of the financial system and containing systemic risk that may arise in financial markets

providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system


I will let you decide which, if any, you think they are not doing properly.
 
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Darwin333

Lifer
Dec 11, 2006
19,946
2,330
126
ElFenix said:
exactly what taxpayer money did the fed waste?
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I think that monetizing US debt could definitely have a case...

Even more so if it is in fact the case (and I have not fact checked it, simply read it) that they paid a higher price by purchasing it from private brokers instead of directly from the government like you and I both can with very small sums of money.
 
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Darwin333

Lifer
Dec 11, 2006
19,946
2,330
126
LegendKiller said:
What would you like them to do that they aren't doing considering all of the constraints they face?
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Oh I dunno, how about not to have helped get us here in the first place? Can we start with that?

Edit: At the very least an apology for not seeing it coming/taking preventave action (per their mission statement) and instead helped it in some cases.
 
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LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Darwin333 said:
Oh I dunno, how about not to have helped get us here in the first place? Can we start with that?

Edit: At the very least an apology for not seeing it coming/taking preventave action (per their mission statement) and instead helped it in some cases.
Click to expand...

Who, exactly, do you think got us here?

Hint: It wasn't the Fed.
 
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Darwin333

Lifer
Dec 11, 2006
19,946
2,330
126
LegendKiller said:
What do you think the Fed is trying to do with QE? I guess you haven't been paying attention to my posts. I've explained this several times.
Click to expand...

Regardless of your opinion of QE is, I am talking about well before that. You know, back when the entire mess could have actually been prevented or at least mitigated?
 
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