Janet yellen

Discussion in 'Politics & The Economy' started by karkus30, Jan 31, 2014.

  1. karkus30

    karkus30
    Banned

    Joined:
    Jul 29, 2002
    Messages:
    13,997
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,238
    Thought it might be worth pointing out that the new Fed chairperson is Janet Yellen. I was thinking that probably most people in the UK don't really watch the US stuff because its remote. Maybe some think what has it got to do with us.

    Well the US Fed is connected to all the other Central banks through the central clearing bank in Europe. As the biggest economy the federal bank calls the shots. So, though we think of ourselves as relatively independent I think the global credit crisis pretty much shows that not to be true. Indeed whatever the Fed do the BoE pretty much follows although the tack might be difficult.

    This subject isn't really about Janet Yellen as an individual but about the entire PR machine behind her move to chairperson. Obama and every paper and mainstream media have been trumpeting her ability to have predicted the crisis and the housing bubble. Yet this is a complete fabrication. There is so much proof on record which shows this was never the case. Even during her speeches she played down any bubbles.

    Here is Peter Schiff debunking her claim.

    Take a look at this video on YouTube:


    Take a look at this video on YouTube:

    Janet Yellen Exposed --The Truth Behind the...



    I think this is important because this is clearly an attempt to sucker the public into believing a lie. Its this crap that has created the current situation and this should be a warning that its going to bounce back and bite hard.
     
  2. kav

    kav
    Distinguished Member

    Joined:
    Jul 10, 2007
    Messages:
    25,494
    Products Owned:
    10
    Products Wanted:
    4
    Trophy Points:
    167
    Location:
    Scotland
    Ratings:
    +13,816
    Ain't that the truth. As you might recall the work I do is directly influenced by the whims of the Fed (and subsequently BoE/FCA/PRA) and the amount of stuff being enforced on us and other organisations in recent years is rising almost logarithmically. We are getting constant complaints from the areas whose purpose is to go out and make money - it's getting harder and harder for them to do their job.
     
  3. karkus30

    karkus30
    Banned

    Joined:
    Jul 29, 2002
    Messages:
    13,997
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,238
    What's your thoughts on that ? I'm concluding that the idea is to try and control the coming explosion.
     
  4. kav

    kav
    Distinguished Member

    Joined:
    Jul 10, 2007
    Messages:
    25,494
    Products Owned:
    10
    Products Wanted:
    4
    Trophy Points:
    167
    Location:
    Scotland
    Ratings:
    +13,816
    It's no one specific thing, every major crisis has led to new, increased regulation, eg Enron led to Sarbanes-Oxley, 2008 led to further increases in leverage and capital requirements, CASS, dozens of other things. While well-intentioned, they have a cumulative impact, leading to greater complexity and more and more effort needing to be spent on compliance. There are armies of people employed just to keep up with it all - I'm not complaining, it puts food on my family's table - but from a business perspective it's a gigantic overhead.

    Control is absolutely the idea, but you can never get true control. Not as long as human beings are involved in the process. No matter what you put in place, the determined, knowledgeable fraudster will bypass it. Some of the biggest frauds happened as a result of smart guys spotting loopholes that they then exploited to make money. We can only ever really play catch-up with regulation because smart guys will always find loopholes.

    Don't get me wrong, I do think there is a requirement for regulation. Similar to the tax system though, it has grown so complex that it can feel like an end in itself instead of a means to an end.
     
  5. sidicks

    sidicks
    Well-known Member

    Joined:
    Mar 24, 2004
    Messages:
    12,715
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,302
    decreases in leverage...?!
     
  6. kav

    kav
    Distinguished Member

    Joined:
    Jul 10, 2007
    Messages:
    25,494
    Products Owned:
    10
    Products Wanted:
    4
    Trophy Points:
    167
    Location:
    Scotland
    Ratings:
    +13,816
    Sorry typing fast, I meant increases in leverage ratios.
     

Share This Page

Loading...