Well a lot are gullible, few are not….
Taken from Rueters today….
My comments in italics.
U.S. Federal Reserve Vice Chairman Stanley Fischer said it was “misleading” to give so much importance to the Fed’s first interest rate hike since the process of returning to a more normal level will take a few years.
Umm yes well, what can one say. First the increase will be the first for eleven years, those long on the USD can celebrate, the impact globally will be huge. Lending rates worldwide will jump…. and continue to do so to cover increases in bad and doubtful debts.
And what is a normal interest rate? Too long, too much meddling by the Central Banks…
Fischer not clueless, just letting his peer group of wankers know that he has no choice, it’s a coming, whether you like it or not.
Regulation should be main tool against bubbles: Fed’s Mester
Central bankers should be aware of the potentially destabilizing effects of super-easy policy on financial systems, a top U.S. Federal Reserve official said on Monday, even if monetary policy should not be used as a main tool to prevent bubbles.
Well clueless, just an ‘official’….it is the interference and meddling by the Central Banks that actually create the bubbles in the first place, since when can anyone or anything control business cycles let alone exuberance of Government spending…
G7 finance ministers to discuss recent forex moves -Canada
The official also told reporters that foreign exchange movements over the last few months have reflected what was happening in the world economy, in particular economic recoveries in the United States and Europe.
Other topics for discussion include international tax issues, financial sector regulations and reform of quotas at the International Monetary Fund, the official said.
The simple reason is that no one winning the currency wars, nothing going as expected and maybe 7 heads plus the socialist IMF may come up with a brain dead solution…. I doubt this though.
They know not what happens… Just rinse and repeat and take note of the agenda… international tax issues …. yes the Finance Ministers need more money to cover mounting Government debt, then we have financial sector regulation, surprise surprise… they are discussing a cashless society… a totalitarian economic society….
And no, there will be no press conference afterwards because they do not want you to know what they are planning…suffer…