Tuesday, January 31, 2012

Today In Bubble History

From the transcript of the Federal Reserve’s policy meeting on January 31, 2006:

"Needless to say, it’s fitting for Chairman Greenspan to leave office with the economy in such solid shape. And if I might torture a simile, I would say, Mr. Chairman, that the situation you’re handing off to your successor is a lot like a tennis racquet with a gigantic sweet spot."

-Janet Yellen to Alan Greenspan. Yellen was president of the Federal Reserve Bank of San Francisco at the time. She was promoted by Obama to her current position of Vice Chair of the Board of Governors of the Federal Reserve for a four-year term ending October 4, 2014. She simultaneously began a 14-year term as a member of the Board that will expire January 31, 2024.

"In Alfalfan terms, I’m just a sprout in the crop of otherwise experienced men and women. But I’m sure they would agree with me, without getting too dramatic, about the appropriateness of Henry V’s remarks at Agincourt -- and I’ll rephrase them -- economists and bankers now asleep (remember these are bankers) shall think themselves accursed that they were not here. I consider myself privileged to have been here, Mr. Chairman. This isn’t Agincourt, but it’s important. I’ve served under two saxophone players now, and I would say without question, you’re a leader of the very best kind, and I thank you for your leadership."

-Richard Fisher to Alan Greenspan. Fisher was president of the Federal Reserve Bank of Dallas at the time, a position he still holds.

"I’d like the record to show that I think you’re pretty terrific, too. And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative."

-Tim Geithner to Alan Greenspan. Geithner was president of the Federal Reserve Bank of New York at the time, and was promoted by Obama to his current position of Treasury Secretary.

The Federal Reserve released this transcript a few weeks ago after keeping it from the public for six years. Transcripts from all subsequent years, including those containing the Fed's discussions during the Wall Street bailouts, remain secret.


Anonymous Ed said...

I think the title of your last post was a little over the top, but you are right, there is something of the creepy atmosphere of the one party state politiburo in these transcripts. This goes beyond the normal office routine of saying good things about the guy who is retiring. I wonder how deep the rot goes.

1/31/2012 8:42 AM  
Anonymous KAIMU said...


The rot goes as deep as the ESF and then a little deeper! Greenspan is now "backpeddling" on almost every policy decision he made in order to salvage what will be left of his legacy. He should have stuck with Ayn Rand and his golden years, but then again the fame and fortune of the banking elite was too strong to resist! None of these "banky people" have allegiance to the USA and its People, much less the ideals and the values of the US Constitution and the Bill of Rights and the Declaration of Independence. When they take office they forget that the US Constitution is a "contract" that they pledged to uphold. No contract is safe when such violations become routine and we are seeing that now.

Go to the ESF homepage and they admit blatantly that this entity was created with the fraud that was the FDR confiscation of the People's private property-their gold. This was 1934 and the Gold Reserve Act and since then the value of a USD has plummeted precipitously.

I recently wrote on the same FOMC Meeting Transcripts about Dino Kos and his final presentation at the FOMC. I liked him and as head trader at the US FED NY he did his job well, but even with that they all totally missed the mark in 2006! In a corrupt system failure is rewarded and then promoted and then propagandized! Rewriting history is the goal ...

1/31/2012 9:15 PM  
Anonymous Anonymous said...

Has anyone in Congress tried to force the release the other transcripts? If not, why? Where has the House Financial Services Committee been?

2/01/2012 8:30 PM  
Anonymous Anonymous said...


2/05/2012 7:14 PM  
Anonymous Kilfarsnar said...

It seems this blog has been abandoned. Too bad, it was fun for a while.

11/28/2012 2:53 PM  
Blogger Kind of Technology said...

Wow what a weblog i am so happy to here can you more discuss here, i am back again again to your site as soon as possible and i have lot of collection for you just click here for more information.

12/08/2012 2:47 PM  
Anonymous Free Text WorldWide said...

Share Free SMS to WorldWide
1. www.smsslide.net
2. www.delesms.co.uk
3. www.playsmssite.com
4. www.smsgoblog.com
5. www.axisflash.info
6. www.historynumber.com
Good Luck

1/01/2013 7:42 PM  
Anonymous Get Back Links Free said...

Backlink fhwa.dot.gov

Backlink www.fhwa.dot.gov

Backlink link.iamzz.com

Backlink doleta.gov

Backlinks start-up-usa.biz

Backlinks nist.gov

Backlinks accessdata.fda.gov

Backlinks roc.noaa.gov

Backlinks tarrantcounty.com

Backlinks pajlo.org

Backlinks nestlegoodfoodgoodlife.com

Backlinks peoplesstatebank.com

Backlinks hp.com

Backlinks polytrauma.va.gov

Backlinks wdtb.noaa.gov

Backlinks fdrlibrary.marist.edu

1/01/2013 7:45 PM  
Anonymous Anonymous said...

so sorry to see one of the very best blogs around is finally, totally dead.

1/31/2013 10:11 AM  
Blogger DED said...

Yeah, I'll second that.

5/08/2013 4:57 PM  
Blogger MikeAdamson said...


5/21/2013 9:30 PM  
Anonymous Free Poker Money said...

Thank you dear admin for hard work for visitors, i visit your exclusive blog very soon. I go to play online poker bonus now.
online poker
texas holdem bonus
And so the two black aces are good AA preflop but once on the table, the turn will come four hearts and one puts the two black aces are no longer good. So good hands after the flop are: sets, straights, full, color or very strong draws (eg, color and straight), all other hands have to play carefully. Of course you should also think logically, if the board is AAAKQ is our pair of fours while giving full house is not good ...
Party Poker bono
Thomas Kirsten Deutch
One of the basic principles of ABC poker is, only play good hands!
2 No Bluff!
Favorites play and one of the main and most costly mistakes 95% of new players. Unfortunately, each of them seems to be that poker is the art of bluffing, because he heard somewhere so ... no and then bluffing in each hand and are surprised that it does not work. Firstly, the bluff was effective to the following two conditions:
- This must be done so that opponents rarely thought that the player never bluffs but play only with strong systems
- Opponents must be good, minded players who have passed the average hand
None of these conditions is not met for low rates: Enemies do not watch and do not think. Players are weak and have even average hands have passed. So even if you can bluff, say, twice for 100 chips, in the hands of a third party to fail and lose 500 It really does work!
Maniac online game
maniak kom pl

5/31/2013 3:29 AM  
Blogger Mrs Panstreppon said...

hi! hope you're doing well.

bet you're thrilled about Janet Yellen becoming fed head.

all the best.

9/29/2013 7:54 AM  

Post a Comment

<< Home