Article first appeared at Zero Hedge – With Janet Yellen now confirmed as Bernanke Mark 2, it is time to recall that in addition to a new Chairman, four of the Fed’s voting members will also rotate. And while below is the latest preview of the voting FOMC members (previously 2011 and 2012) ranked by Reuters in terms of their dovishness and hawiskness, the reality is that the peripheral Fed presidents (here we focus on the Hawks obviously) are nothing but figureheads whose only function is to be roundly ignored if and when they dissent with the new Chairman.
Which is why we will simply conclude with what we said roughly a year ago, which so far has turned out to be spot on: “the voting FOMC members are merely the supporting cast of the top three: Ben, Janet and Daniel, and at the end of the day, it is always about Bernanke. So while the FOMC may get one more borderline hawk, it is getting two more far more vocal doves, which likely means that at the end of the day, there will be zero change in the Fed’s posture in 2013, which at the end of the day is always about one simple thing: i) injecting reserves into dealers so they can use the cash to fund prop trading, and ii) to monetize the US deficit. It also means that the 2013 run-rate of TSY and MBS monetization of $1 trillion will last not only through the end of the year, but almost certainly past year end 2014. Everything else is smoke and mirrors.” Like the now annual debt ceiling farce.
When NSA recruiters went to the University of Wisconsin earlier this week to pitch language students on working for the agency, they got more than they bargained for.
The informed students turned the question-and-answer session into a hearing. On trial were the NSA’s lies, their legality, and how they define -adversary-.
The students recorded audio of the exchange on an iPhone proving that the language-analyst NSA recruiters were left tongue-tied.
-I’m surprised that for language analysts you’re incredibly imprecise with your language,- grad student Madiha Tahir charged when they failed to define what constitutes an adversary.
-What you’re selling us is untrue- she added. -We also know that the NSA took down brochures and fact sheets after the Snowden revelations because those fact sheets had severe inaccuracies and untruths in them — so how are we supposed to believe what you’re saying?-
Another student directly challenged the NSA’s morality for using the -globe as their playground- and then partying at the office with co-workers. She then challenges them to become whistleblowers because the truth will ultimately prevail.
Michael Hastings was that rarest of breeds: a mainstream reporter who wasn’t afraid to rail against the system, kick back against the establishment, and bite the hand that feeds him. On the morning of June 18, 2013, he died in a fiery car crash. But now details are emerging that he was on the verge of breaking an important new story about the CIA, and believed he was being investigated by the FBI. Now even a former counter-terrorism czar is admitting Hastings’ car may have been cyber-hijacked. Join us this week on The Corbett Report as we explore the strange details surrounding the untimely death of Michael Hastings.
Trading on Thin Air explains the methods used by the financial oligarchy in the past to extract the wealth of the nation and shows how the same strategy is being used today to subvert a movement for conservation and sustainability and harness it in order to create the next big bubble.
A former Air Force drone operator who says he participated in missions that killed more than 1,600 people remembers watching one of the first victims bleed to death.