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Monetary Policy: The ‘Devil’ is in the Details!

April 4, 2013

For purposes of this missive, I want the reader to ASSUME that I AM a Central Banker…specifically, the Chairman of the Federal Reserve System of the United States of America. Let’s ASSUME that I AM Ben Bernanke (the current Fed Chairman) and I am going to inform you (the reader) about my views on the ‘dollar’, the ‘operations’ of the Fed, and how I work to ‘manipulate’ the stock, bond, and loan markets for my benefit (which I view as for the benefit of the overall U.S.A. economy). I am going to reveal some ‘details’ to you that few understand as my System and Operations are rather opaque and deceptive if revealed to the masses. Let’s begin our journey into my realm of reality!

First of all, I want everyone to know that my banking operations are legally ‘independent’ from any real-time interference from any elected representatives within our Congress or the White House. My Federal Reserve operations are ‘legally’ established so that I can operate ‘independently’ from Congress, the elected American President, or the masses of American people. All this was and is now official under the ‘legal’ act called the Federal Reserve Act of 1913 (as revised when necessary over the years). I, and my subordinates, can operate and implement policies as we determine necessary for all the vast global financial markets. All this is done with little transparency in real-time. Secrecy is very important as our manipulations and decisions must be final and without any operational dissensions from outside interests. Essentially, I am in CONTROL of all monetary policy for the United States of America (via my real-time monetary operations). In fact, I am mostly the most powerful financial ‘dictator’ on this planet!

I want everyone to know that I have a ‘right’ hand man who helps me with current market information and who also manages my computer desk for all my monetary manipulations (which I call policies). Currently, my ‘right’ hand man is the President of the New York Federal Reserve Bank, 33 Liberty Street, N.Y.  and his name is William C. Dudley. Bill is continually aware of all market events as he has real-time connections to some 21 Dealer Banks (who work for the Fed) as well as all the powerful trading desks that can influence (and manipulate) market metrics. Bill is an economist, who replaced Tim Geithner in 2009, and who worked for Goldman Sachs for some 21 years prior to securing his current position. Bill is also a ‘permanent’ member of the powerful committee called the FOMC (Federal Open Market Committee) and holds the additional title of Vice Chairman of the FOMC.

I also want to reveal that my computer desk operations are now totally electronic and this means that I no longer need to ‘print’ paper notes as money (dollars). The electronic markets have now emerged so that all my Dealer Banks and all the Member Banks of the Federal Reserve System are now a ‘network’ of electronic systems. Essentially, all monetary transactions are now done via the computer (electronically) and almost all stocks, bonds, government securities, mortgage derivatives, and all similar instruments have transitioned into ‘virtual’ instruments within the computer screen. Almost ‘all’ paper instruments have been replaced with electronic (virtual) documents. This transition has occurred within the past 15 years (mostly). The historical institution called the Bureau of Engraving and Printing how ‘prints’ only some 3% of Federal Reserve Notes (paper) for circulation and this is mostly to replace worn out paper notes. New creations of ‘dollars’  are now digital and done via the computer. Our markets are now some 97% electronic and money is now virtual and within the computer screens of traders, investors, lenders, and financial speculators.

Even though I have notified the press and the media that I no longer ‘print’ paper dollars for distribution, the vast majority of financial pundits seem unaware of this transition to all electronic units (dollars). I have also noticed that most financial pundits seem unaware of the virtual nature of our dollar today (at least with their words and written speeches). Many pundits still seem to THINK that our dollar is a ‘printed’ note. In reality, our ‘dollar’ is now a ‘creature’ within my personal MIND (consciousness)…a mental abstraction with NO physical existence. I determine how many new units enter the marketplace as I now create (via my mental thinking) and then distribute these imaginary units via the electronic computer. I am the originator of money (which many assume is a ‘printed’ note). In reality, however, my new virtual (digital) units emerge invisibly into the marketplace via the computer screen…as I, Bill, and my group think FOMC committee ’emit’ or ‘input’ new digits into the market. How do I actually ‘create’ new virtual dollars? Let’s review!

What I now do is ‘think’ up a ‘number’ of dollars (in my Mind) which I and mostly Bill Dudley feel are necessary to keep our markets liquid and growing. Since the dollar is a ‘mental’ abstraction and non-existent in Space/time, I must ‘think’ up the right quantity of mental dollars (within my Mind) and then have Bill (my right hand man) increase our System Open Market Account (the SOMA) via our computer desk at the N.Y. Federal Reserve Bank. As new digital units are added to our virtual (digital) SOMA account, I can use these digits (which we still call legal tender dollars) to purchase other ASSETS from our Dealer Banks and/or other Governmental Agencies. Since the Financial Crisis of 2008, I have thought up four different schemes to increase our SOMA account for new Asset Purchases. The media have given these schemes (which I call monetary policy) names like QE1, QE2, QE3, and QE infinity. These schemes create trillions of new digital units within the computer screens of select recipients…who can then further influence (or manipulate) the greater financial markets via their computer operations. It’s all electronic and virtual units today!

What has emerged these past 15 years is a new CENTRALIZED monetary policy regime which I mostly CONTROL and manipulate (especially since the Financial Crisis of 2008). Since I am the Fed Chairman and I have the support of a voting majority of FOMC members, I essentially am the FED (I essentially speak for the Fed). If you witness what I say and do, you can discern that I AM the Centralized Manipulator (we could say dictator) over all monetary policy of U.S.A. and much of the globe. I work with my ‘right’ hand man, Bill Dudley, to assure that the markets remain liquid, growing, and continually manipulated in real-time. I am influenced by other powerful financial interests who have a similar mindset as me. I am, however, the final ‘dictator’ of monetary policy for all the U.S.A. markets. I monitor the markets daily and as of today, I have influenced the Stock Market to an increase of some 11% in 2013 and I have created a growing new speculation and growth in the Real Estate Markets. All this is mostly from my policies!

Since I am ‘legally’ independent of all political interests and the American voter, I can operate my ‘Centralized’ System mostly as I envision it. I am currently in the news daily and I find that most of the media and the public approve of my actions and decisions to date. Money has become a psychological unit (of my Mind) and to date Congress and the elected hierarchy seem to support my manipulations, schemes, and monetary thought process. Some view my monetary actions as illegal as I create what we call ‘money’ OUT OF NOTHING (my Mind). Others view my ‘dollar’ (now an abstraction of my mind) as illegal tender. Some also assert that the Federal Reserve Act of 1913 (which gives me my Authority and Power) is an UnConstitutional Act. And still others view my financial operations as a Huge Ponzi Scheme (similar to that of Bernard Madoff). I, however, hate any alternative currency (like gold or silver) as these commodities are mere hard physical Assets (without the flexibility of my creative operations).

I could continue with additional revelations about my operations and the Fed System, however my time is limited as I need to attend to my Plunge Protection Team and make sure that CONFIDENCE continues to emerge within our markets. I would really hate to witness any major increase in the PRICE of GOLD and/or SILVER as these historical currencies (if their ‘price’ increases substantially) could bring my downfall. I like my POWER and CONTROL over the markets and also all the attention that I receive for my actions and policies. My financial friends appreciate my services and I would hope that the American public will not become negative about my Centralized Operation and/or my continuing financial schemes to manipulate the markets. I really do have the BEST INTERESTS of the American public in my plans going forward! Watch as my future manipulations and policies continue to grow our markets. An ‘independent’ Fed,  with me in control,  is the best option for today’s virtual/global/inter-connected markets. Have a good day! I am:

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