That's what St. Louis Fed president James Bullard would like to know.
Moments after revealing that the Fed is very close to admitting that the stock market is in a bubble when he told Steve Liesman that "I think we are on the high side of fairly valued, I could see the process getting away from us, maybe tech stocks, maybe others", he shifted to something totally different: the so-called Fed Up "activist protests" which have been taking place at Jackson Hole.
And, as the WSJ reported earlier, a day after an unprecedented gathering between left-leaning activists and many Federal Reserve officials, at least one central banker is questioning the group's motives.
Bullard said funding of the Center for Popular Democracy's Fed Up campaign, which draws in large part on a charity supported by ex- Facebook founder Dustin Moskovitz, whose net worth of $8 billion in 2015 made him the youngest billionaire according to Forbes - has raised questions for him about what the activists are really up to.
Ironically, contrary to normal expectations that ordinary Americans would demand higher rates on their savings, Fed Up wants precisely the opposite. Fed Up has mounted an aggressive effort to convince the Fed to keep rates ultra low, and to promote diversity in a largely white male dominated central bank, among other desired reforms.
Unlike other, unfunded anti-Fed groups, this particular organization - which appears to be just a "lobbying front" for billionaires - has scored considerable successes in terms of access, meeting with all 12 regional Fed bank president as well as Chairwoman Janet Yellen and some of the Washington-based governors. They've also helped drive congressional Democrats and the campaign of Democratic presidential campaign of Hillary Clinton to support reforms of the Fed that would reduce the banking sector's influence over the central bank.
What is notable about this faux "anti-fed" organization, however, is that the "activists" efforts, which according to the WSJ "are aimed at making sure lower income households and minorities share in the recovery to the same degree as the well off", are in fact anything but. Because what has not been touched upon is that it is precisely low interest rates that crush low income households and minorities. Don't believe us? This is what Dollar general CEO Todd Vasos said during his conference call yesterday, when his stock plunged by the most on record after reporting disturbing numbers:
I know that when we look at globally the overall U.S. population, it seems like things are getting better. But when you really start breaking it down and you look at that core consumer that we serve on the lower economic scale that's out there, that demographic, things have not gotten any better for her, and arguably, they're worse. And they're worse, because rents are accelerating, healthcare is accelerating on her at a very, very rapid clip.... Healthcare is one of the big ones, because most of our consumers, while she may be working, doesn't have healthcare, and we all know that she's having to now pay for this healthcare or be taxed on it, right? So that is starting to really play against that low-end consumer right now, and it will continue to play against her.
And yet, instead of railing against Obama's policies which are crushing low income consumers, these so-called activists are demanding that all of America's workers continue to suffer zero returns on their savings, while trillions in liquidity end up going to bolster stock prices, pushing the shares of FaceBook, among others, to new all time highs, and making their billionaire sponsor, Dustin Moskovitz, even richer.
What we found most surprising is that Bullard, actually called them out on it.
When it comes to Fed Up, "it's Facebook money," Bullard said. "I think it's kind of a funny thing for them to fund because they want low interest rates in an era where we are awash in low interest rates, so it's kind of crazy, isn't it?"
While Bullard said he agreed with the diversity goals of the group, he'd like to just cut out the middleman on monetary policy, as he sees it.
Dustin Moskovitz
"I think that Dustin Moskovitz should be here, maybe he can helicopter in from Sun Valley or something instead of sending all these people, if he wants low interest rates. He could just come and argue about it," Mr. Bullard said.
This, in itself, was a stunning U-turn, because for the first time ever, the Fed appears to be turning not only against the puppet proxies of America's billionaires, but calling out those very people who benefit from the Fed's policies.
Perhaps Yellen's hawkish turn is not just for show after all.
Bullar's interview segment is below.
So they can have thier choice run it?
James Bullard is a lame midget on steroids. ;-)
Looney
James Bullard is part of a massive team effort that has systematically destroyed freedom in the United States. Zuckerberg is expendable. Just like JFK Jr. JFK Jr. was a roadblock to Hillary becoming the U.S. Senator from New York so even JFK Jr. was expendable.
http://www.whatreallyhappened.com/RANCHO/CRASH/JFK_JR/jj.php ing
he was beta testing tesla solar auto pilot
FUCK FACEBOOK !!
They are just trying to frame the debate, as always. Now 'anti-Fed' means wanting more of the same, not wanting to END the FED! Hilarious, if it wasn't so surreal.
A gold star for you!
Bu tthe Facebook children walked straight into that one.
Take the gold star away from that unicorn....
(((Moskovitz)))
Alt-right triggered!
Facebook doesn't allow links to "All Wars are Bankers Wars". Should tell you everything about what kind of 'anti-Fed' group they would fund! The most 'pro-Fed' 'anti-Fed' group in history!
Leave it to FB Libtards to get the fucking Federal Reserve all wrong wrong wrong.
For the love of Christmas they always get everything wrong. Fucking retards.
When I say "wrong" I mean reasoning. According to them FedRes as is with more diversity is just fine. For the love of fuck. Can you believe them?
Our Elites have small quarells, but they are only small! http://www.truthjustice.net/
Some of the reasons why the established systems are so totally rigged, that there are no practically possible ways to fix those problems, are the ways that there are various controlled opposition groups, whose funding enables them to become publicly significant. As far as I can tell, just as there is almost nothing but the central core of triumphant organized crime, in the form of international banker dominated governments, so too there is almost nothing which is publicly significant than controlled opposition, due to the ways that the vicious spirals of political funding operate to enforce frauds, which then enable those who benefit from that being able to reinvest their profits from frauds in more more frauds.
ENFORCED FRAUDS BECOME EXPONENTIALLY MORE FRAUDULENT.
The Internet businesses that became most successful did so within the context of them playing ball with the banksters and their buddies, including entities like the NSA and CIA, etc. ... Within that context, it is not surprising that Dustin Moskovitz is Jewish. The heads of the Federal Reserve Board have all been Jews, one after another, such that the probability of that happening by chance is about 1 in 300 million. The established systems ARE almost totally rigged!
"THEIR CHOICES" ARE ALREADY RUN IT.
Even IF there was some superficial "diversity," none of that would make any difference as long as that superficial "diversity" did not identify the essential problem that the Federal Reserve Board operates through public governments enforcing frauds by private banks, in ways which are becoming exponentially more fraudulent. More importantly, genuinely insightful criticisms of the Federal Reserve Board should be based upon a deeper analysis of how and why governments ARE the biggest forms of organized crime, controlled by the best organized gangs of criminals, which was the overall context in which Internet businesses that became successful NECESSARILY did so within political economy operating through the principles and methods of organized crime, through fraudulent financial accounting systems:
"THEIR CHOICE."
I hate it when the facts are racist.
LOL, Herd!
In my view, genuine opposition to the Federal Reserve Board must not only superficially recognize the facts that the Fed is based upon the triumphant application of the methods of organized crime through the political processes, in order to realize the supreme achievement of organized crime, which is their ability to engage in legalized counterfeiting of the public "money" supply, but also must engage in deeper levels of analysis regarding how and why human beings and civilization, which live as entropic pumps of environmental energy flows, and therefore, NECESSARILY operate according to the principles and methods of organized crime.
Generally speaking, the majority of people do not appear to understand, nor want to understand, that the Federal Reserve Board is the manifestation of triumphant organized crime, while the few that do still tend to not understand, nor want to understand, how and why those ARE the social FACTS. On Zero Hedge, one finds far more frequently that the content published in the articles and comments recognize that the central social facts are that central banks operate because public governments enforce frauds. However, it continues to be extremely rare for that kind of superficial analysis of those FACTS to engage in deeper levels of analysis regarding how and why those ARE the FACTS.
Meanwhile civilization continues to be controlled by ENFORCED FRAUDS BECOMING EXPONENTIALLY MORE FRAUDULENT, because there is practically no publicly significant genuine opposition, but mostly various forms of controlled opposition. The deeper reasons for that are the degree to which almost all of the publicly significant opposition is controlled by them continuing to "think" in ways which take for granted the biggest bullies' bullshit languages, which have become the banksters' bullshit about political economy.
Obviously, "Fed Up" certainly looks like a "lobbying front" for billionaires. Since they became socially successful INSIDE ENFORCED FRAUDS, there is no reasonable expectation that they would stop being the best available professional hypocrites, which would propose and promote "reforms" which were too trivial to matter.
In my view we are headed towards things spinning out of control, into conditions which become extremely unpredictable "revolutions," due to the essential paradoxes that being able to enforce frauds never stops those from still being fraudulent. Hence, the social successfulness of the Federal Reserve Board, as runaway triumphant organized crime become exponentially more fraudulent.
At the present time, there appears to be nothing else which can realistically happen than that exponentially increasing fraudulence finally being resolved through series of psychotic breakdowns, and crazy collapses into chaos, as severe social storms blow through, due to society being pumped up by greater and greater manifestations of integrated systems of legalized lies, backed by legalized violence, which is the foundation of the Federal Reserve Board, which has no genuine opposition that is able to restrain the more and more extremely unbalanced ways that drives itself to go out of control.
Paradoxically, the lust of some human beings to control other human beings worst enemy is its own excessive successfulness, whereby the ways that civilization controlled by the applications of the methods of organized crime become runaway criminal insanities. Some of the reasons for why that becomes excessively successful are the degree to which the domination of the funding of political processes makes sure that there are barely any publicly significant opposition groups that are not forms of controlled opposition, which therefore, propose and promote bogus "solutions" based upon "reforms" which do not admit and address what the problems really are!
Furthermore, in my opinion, even on Zero Hedge, it is still relatively common to find the expression of various controlled opposition groups, which do not engage in deeper analysis of how and why the EXISTING systems are based upon public governments enforcing frauds by private banks, but rather, only engage in superficially correct analyses, which then leads to various sorts of superficial "solutions." Ironically, most of the controlled opposition appears to not be aware of the ways that they are controlled because they almost totally take for granted themselves "thinking," and so communicating, in ways which operate through the biggest bullies' bullshit based languages and philosophy of science.
P.S.
I do NOT like the term "Jew" since it tends to be quite misleading, in many ways, since the majority of people who are now called "Jews" are so because their ancestors converted. In my opinion, the history of Neolithic Civilization, which has become most dominate and conquered the rest of the world, can be traced back to ancient Egyptian and Mesopotamian civilizations. The original history of the "Jews" were that they survived through both those Egyptian and Mesopotamian histories, and therefore, developed the best books of organized crime gang rules. Hence, the majority of people who are now "Jewish" are so because their ancestors converted to using the "Jewish" organized crime gang rules, which had been forged through surviving the history of both the Egyptian and Mesopotamian civilization.
The ways in which the cultural and genetic strands are intertwined are hyper-complicated. For instance, it makes a big difference to the results of DNA analysis if one uses the Y chromosome line, or the X chromosome line, etc. ... Moreover, the overall history of the ruling classes that developed through the history of Neolithic Civilization, spreading out from the Middle Eastern areas, through Europe, and then conquering North America, as well as almost everywhere else, has gone through extensive hybridization.
One treatment of that history that I found worthwhile to consider was presented here:
http://www.youtube.com/watch?v=yzdomBX8U0w
UROKO
That points out the degree to which the Vikings were a source of the current ruling classes, which hybridized with the converted Jews long ago. Although the racial characteristics does provide some of the underlying abilities of the ruling classes to develop their cultural traits, I think that those cultural characteristics are more important. Therefore, I believe that what the ruling classes DO is more important than Who they are.
Mostly what has happened is that civilization has developed human ecology to become like other ecologies, EXCEPT that the different niches are more filled by different groups of people who specialized to become the ruling classes, while others adapted to become those ruled over. Therefore, in metaphorical ways, which approach the literal truth, the ruling classes act like the top carnivores, or the men that prey on men, while those they rule over act like the herbivores, which are the prey.
Political Parables about Wolves and Sheeple are somewhat useful, but still misleading, since we are stuck using the English language, which is the bullies' bullshit language par excellence, which has many assbackwards perceptions of everything deeply embedded into the ways that people automatically think when using the English language. (For instance, wolves never kill each other, but doves do, etc., etc. ...)
Certainly the facts are the facts within the Anglo-American (Zionist) Empire, that "Jews" are overwhelmingly more frequent in the ruling classes than any other identifiable groups, throughout all institutions that one examines. However, I regard that as a red-herring. The deeper issues are that there are chronic political problems inherent in the nature of life, which must be resolved somehow, and have been resolved in the most expedient ways possible through the development of the Neolithic Civilization social pyramid systems, which have ruling classes that specialized in being dishonest and violent, so that they could control other people. Therefore, the human ecology, inside of which developed political economy, became relatively small groups of predatory/parasite people, who dominated much larger groups of productive/prey people.
While it is clear that the social facts in the Anglo-American (Zionist) Empire that "Jews" relatively predominate in the groups of people who act like predatory parasites, the deeper problems are NOT WHO the ruling classes are, but rather, WHAT THEY DO.
As I have outlined above, it is relatively frequent on Zero Hedge, much more than in the mainstream mass media, for people to face the FACTS regarding the International Bankers, and their apparent "Jewishness." However, there is rarely any deeper analysis of how and why those are the FACTS.
Dustin Moskovitz, probably another Clinton Foundation supporter
They have already butchered everyone else.
Time to eat their own.
Merely by deigning to speak with Mr Liesman, FED officials squander their precious little "credibility".
PS strange that Mr Muskovitz seems unconcerned by the loss of interest he could be earning on that $8 billion. Must be other motivations (or the $8 billion isn't real, or soon won't be).
Dustin Moskovitz is a jew who wants free money for himself and destroy USA. Just like most of jews.
#facebookfoundersmatter
#fuckfacebook
"While Bullard said he agreed with the diversity goals of the group, he'd like to just cut out the middleman on monetary policy, as he sees it."
Until I read the next line, I thought Bullard was going to propose ending the FED, and letting the market set interest rates.
Oh...I bet the FED is currently conspiring right now, on how to use all of the public negativity , to somehow make themselves look like they are listening and figure out how to "end " the FED system, hand over the debt to the public , and still be able to skim off of a new US Treasury Dollar system . Bastages
Because they want to create their own FaceBucks?
Facebucks goes into QE, get your Facebucks card, every time you buy 2 facebucks get the third one free!
HONEY TRAP for Right Wingers, Conservatives and Decent People
There was no such thing as "Anti-Fed" until they funded and started this particular group. What did exist was "END THE FED".
Winner Winner Chicken Dinner
The Surveillance State must be Fed. Pun intended.
When the 'mob' revolts, these fuckers are going to feel pain, a lot of pain.
Don't know anything about Dustin Moskovitz other than he's one of those leaches that produces nothning for the real world but I must admit, based on the photo, I would love to punch him square in the face.
I keep beating the drum...
They are going to pass the Fed to the public sector and with it all the debt from years of helicopter money to the US taxpayer.
IT'S A TRAP!
When did it become Federal Reserve.gov, from Federal Reserve.net ? www.federal-reserve.net
Some jewih names at the very begining. I stopped reading there. FED and FB are not so important to me, to read it.
Wahhhhh! A succesful Jewish person! Go cry over at stormfront........
I had a dream this morning, was able to wake up and remember. 6:00ish am. Bizarre.
Andrew Eldredge was singing Berkshire Cupcake Road to Noware. (fake video). Real video below.
Then the music video kicked after many woke.
Sisters of Mercy - Dominion
I guess Bullard is on the receiving end of the outrage on Facebook.Big mistake by the Fed there,but they must know by now about the true hate the American public feels towards these gangsters that are destroying the United States.
Becaus they already have their Global Replacement in the wings, they need facefuck to soften up the masses to make them think it's their idea.
Hegelian Dielectric - selling the problem Now, provide a Solution next up
(Not the way Ron Paul wanted it solved BTW)
Fecesbook needs Quantitative Sleazing or NIRP to expand debt and resell it to repackage a SIV. (Special Investment Vechicle)
At the time Facebook went live for IPO, it was called special purpose vehicle. It's a joke in desperate measures.
http://www.investopedia.com/terms/s/spv.asp
This is tied into India and EU banking.
The Uses of Special Purpose Vehicles in Asset Securitization - Wilmington Trust
Wait...Protesting what the Fed is going to do anyway?
"I think we are on the high side of fairly valued..." which is, I believe, the rung right under "On the low side of everything going to sh*t."
All Fakebook is, is a data collector for advertising and goobermint watchdogs. Do you really think Zuckerberg gives a shit about people sharing stupid personal stories and vacation pictures?
People are so friggin stupid, its a miracle we made it to 2016.