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Balancing Inflation and Growth Part 3 of 13 |
| By Webmaster,
on December 15, 2008 07:35 AM
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Views : 12 |
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Published in : The News, Delta Sites |
Indeed, as I speak, central bankers here and across both the pond and the channel feel besieged by a seemingly insurmountable foe delivering retribution for our having been complacent, if not smug, during those happier days. Like Henrys troops at Agincourt, it may appear that we face overwhelming odds. Yet I am not overwhelmed.
Why not, you ask? How to trade commodities allows me to invoke another of your English ancestors in reply. Winston Churchill once asked: Why is it that the ship beats the waves, when they are so many and the ship is one? The reason is that the ship has a purpose. Tonight, I wish to give my view of the purpose of the Federal Reserve.
Needless to saybut I will say so anywaythe views commodity market trading I express this evening will be my own and not those of any other member of the Federal Open Market Committee or any official of the Federal Reserve System. This is but one mans soliloquy.
Last update: December 15, 2008 07:35 AM
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Fisher Storms on the Horizon Part 18 of 18 |
| By Webmaster,
on December 15, 2008 03:14 AM
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Views : 25 |
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Published in : The News, Delta Sites |
Is there any difference between Republicans and Democrats when it comes to spending money? Cohen looked at him, furrowed his brow and, after thinking about it, replied, Mr. Shultz, there is only one difference: Democrats The MasterTrader E Book enjoy it more.
Yet no one, Democrat or Republican, enjoys placing our children and grandchildren and their children and grandchildren in harms way. No one wants to see the frightful storm of unfunded long-term liabilities destroy our economy or threaten the independence and authority of our central bank or tear our currency asunder.
Of late, we have heard many complaints about the weakness of the dollar against the euro and other currencies. It was recently argued Forex Auto Money in the op-ed pages of the Financial Times that one reason for the demise of the British pound was the need to liquidate Englands international reserves to pay off the costs of the Great Wars. In the end, the pound, it was essentially argued, was sunk by the kaisers army and Hitlers bombs. Right now, weyou and Iare launching fiscal bombs against ourselves. You have it in your power as the electors of our fiscal authorities to prevent this destruction.
Last update: December 15, 2008 03:14 AM
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Balancing Inflation and Growth Part 1 of 13 |
| By Webmaster,
on December 12, 2008 03:14 AM
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Views : 3 |
Favoured : 8 |
Published in : The News, Delta Sites |
It is an honor to speak here in London to the Society of Business Economists at the suggestion of my much-admired friend, Charlie Bean at the Bank of England. Charlie is on the advisory board of the Dallas Feds Globalization and Monetary Policy Institute, and we are most grateful for his platform trading insight and, not unimportantly, his wit.
I am on my way to a conference in Paris to learn commodity trading, where I have been invited by the Banque de France to comment on a paper by another of our institutes esteemed advisors, Harvard professor Ken Rogoff. I hope my French hosts will forgive me for bringing up my favorite of all of Shakespeares histories this evening, Henry V, as I recall one of the more pleasant moments during my tenure on the Federal Open Market Committee. During our last meeting with Alan Greenspan as chairman, some of us took advantage of the moment to ham it up and work a farewell salute into our otherwise somber interventions. I chose to adapt Henrys speech to the troops at Agincourt. Affecting my best Kenneth Branagh imitation, I mangled the words of the Bard: We few, we happy few,
Last update: December 12, 2008 03:14 AM
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