New Zealanders get $3000 each from FED, thanks !

[icm63]

http://market-ticker.denninger.net/a...-Money-Go.html

Watch Rep Alan Grayson...

NZ central bank got $9 bn.

I say thanks !, But I am have yet to get my check (I am a kiwi), but this is in advance, I say thanks, jee shucks !

Glad your congress did not mind !

[Ghent12]

Re: New Zealanders get $3000 each from FED, thanks !

What's a few billion among friends? Enjoy!

[cjppjc]

Re: New Zealanders get $3000 each from FED, thanks !

http://market-ticker.denninger.net/a...-Money-Go.html

Watch Rep Alan Grayson...

NZ central bank got $9 bn.

I say thanks !, But I am have yet to get my check (I am a kiwi), but this is in advance, I say thanks, jee shucks !

Glad your congress did not mind !

Your fin welcome. I like the condescending tone Grayson uses.

[icm63]

Re: New Zealanders get $3000 each from FED, thanks !

Just a token of my appreciation all here at itulip.com can use my holiday batch..

batch.jpg
beach.jpg

Joking !

[audrey_girl]

Re: New Zealanders get $3000 each from FED, thanks !

my head almost exploded watching this I was so pissed off

these people at the fed are thieves

[marvenger]

Re: New Zealanders get $3000 each from FED, thanks !

we actually really need these guys, seriously lets be adult about this and defer all responsibility to a bunch of crooks who stick a gun to our heads.

[Aussie]

Re: New Zealanders get $3000 each from FED, thanks !

NZ central bank got $9 bn . . .

I live in NZ too and watched the clip. I have to say that I thought the Congressman was grandstanding a bit. Don't get me wrong . . . I think that 99% of the time Bernanke is lying, but in this case I'm not so sure and here's why.

I remember reading about the currency swaps in the NZ Herald last September. The Fed and other CB's are in the business from time to time of "wholesaling" digital currency which the banking system turns into cash. I'm not surprised that the Fed doesn't know who are the end recipients of the money any more than the Chinese know the names of the individual mortgage holders from Fannie and Freddie. However, they the Fed does know which CB's got what and as far as they are concerned, that's all they need to know.

The other thing the Congressman did not mention was the income side of the ledger. I presume that in return for USD swaps the Fed recieved EUR, YEN, GBP, CAD AUD, NZD etc . . . to my mind, that kinda evens things out.

Denninger knows a lot more than me about the energy and other manipulation issues, so I can't really comment too much on that. But I think the Congressman kinda came across as unprepared and a bit financially illiterate, especially by disingenuously implying that I got a check for $3k. Ron Paul no doubt would have done a much better job :-)

Just my two cents though . . .

[WildspitzE]

Re: New Zealanders get $3000 each from FED, thanks !

Ron Paul no doubt would have done a much better job :-)

not to thread jack, but sometimes he is a rock star. QED:

[Chris Coles]

Re: New Zealanders get $3000 each from FED, thanks !

The problem is, none of the perpetrator's will listen to a single word Ron Paul says. The intellectually blind leading the blind.

[pescamaaan]

Re: New Zealanders get $3000 each from FED, thanks !

. But I think the Congressman kinda came across as unprepared and a bit financially illiterate, especially by disingenuously implying that I got a check for $3k. Ron Paul no doubt would have done a much better job :-)

Just my two cents though . . .

i agree - a swap is just that, a swap of one thing for another. the fed didn't just send $9b to nz and wish them luck. in return of dollars, the fed got $9 billion worth of kiwi.

fx rates are, in part, a reflection of interest rate differentials between two currencies, at worst, the fed's actions artificially drive down interest rates on the $$ (during the height of the crisis dollars were heavily demanded and thus rates spiked). the fed, through the actions, inflated the supply of dollars to thwart the spikes (and relieve pressure on the nzdusd fx rate).

[cjppjc]

Re: New Zealanders get $3000 each from FED, thanks !

i agree - a swap is just that, a swap of one thing for another. the fed didn't just send $9b to nz and wish them luck. in return of dollars, the fed got $9 billion worth of kiwi.

fx rates are, in part, a reflection of interest rate differentials between two currencies, at worst, the fed's actions artificially drive down interest rates on the $$ (during the height of the crisis dollars were heavily demanded and thus rates spiked). the fed, through the actions, inflated the supply of dollars to thwart the spikes (and relieve pressure on the nzdusd fx rate).

So how come this wasn't said. I think the Congressman was grandstanding a little bit, his main point of on whose authority.......

[pescamaaan]

Re: New Zealanders get $3000 each from FED, thanks !

So how come this wasn't said. I think the Congressman was grandstanding a little bit, his main point of on whose authority.......

it wasn't said because the congressman either does not understand what a currency swap, or purposefully neglected the 'swap' part to make a point disingenuously.

his point was refuted by bernanke - the authority comes from the fed reserve act of 1913.

i am no fan of the fed and agree fully with Ron Paul, Eric Janzen and Jeremy Grantham;s criticisms of the fed. However, if one wants to criticize the fed it's important to a) have your facts straight and b) present a truthful argument otherwise you immediately lose credibility

[cjppjc]

Re: New Zealanders get $3000 each from FED, thanks !

it wasn't said because the congressman either does not understand what a currency swap, or purposefully neglected the 'swap' part to make a point disingenuously.

his point was refuted by bernanke - the authority comes from the fed reserve act of 1913.

i am no fan of the fed and agree fully with Ron Paul, Eric Janzen and Jeremy Grantham;s criticisms of the fed. However, if one wants to criticize the fed it's important to a) have your facts straight and b) present a truthful argument otherwise you immediately lose credibility

Yes I understand that. I believe the Congressman wanted to have that debate. He gets his most serious when he says "Well lets talk about that." And he tried to start it by making a point about the money being spent in this country. Grandstanding. The simple way to make the point. Maybe not the most genuine.

[rchdenton]

Re: New Zealanders get $3000 each from FED, thanks !

Crikey, this wasn't done secretly. The Reserve Bank of New Zealand announced it quite openly. What exactly is his problem, he got our real dollars in return, we only get their hot of the press devalued ones in exchange.

Talk about paranoia. Get a grip you guys.