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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Gordon T Long GordonTLong.com
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Charles Hugh Smith OfTwoMinds.com
DIRECT AMAZON LINK
Link to info page and FREE Chapters at OfTwoMinds site:
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
VISIBLE
LESS VISIBLE
FISCAL POLICY
MONETARY POLICY
CONSTITUTIONAL RIGHTS
“Feeding at the Government trough”
“Competitive Advantage”
“Removal of Choice”
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
VISIBLE
LESS VISIBLE
FISCAL POLICY
MONETARY POLICY
CONSTITUTIONAL RIGHTS
“Feeding at the Government trough”
“Competitive Advantage”
“Removal of Choice”
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
OWNERSHIP
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Public Perception
“If a central bank can potentially create unlimited money from nothing, how can it ensure that money is sufficiently scarce to retain its value?”
Jens Weidmann, President, German BundesbankSeptember 2012
DUAL MANADATE: In 1977, Congress amended The Federal Reserve Act, stating the monetary policy objectives of the Federal Reserve as: "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates."
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Penalize Savings through ZIRP
Reward Speculative Risk through EASY CREDIT & LEVERAGE
Poor become Poorer$ From Earned Income
> Squeeze Disposable Income
Rich become Richer$From Capital Gains/Asset Appreciation
> Low Rate, Easy Credit, Leverage
FEDERAL RESERVE: Flawed Premise & Mistaken Role
Macro AnalyticsSeptember 22nd, 2012
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
ASSUMES CPI SPENDING DISTRIBUTIONS
DOESN’T FACTOR SHIFT TO CONTRIBUTORY BENEFITS
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Reality
CPI DOESN’T FACTOR IN THESE INFLATION REALITIES!
INFLATION IS PRIMARILY A LONGER TERM MONETARY POLICY EFFECT
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
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Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
Not A Cyclical Problem – Rather a Structural Change
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
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Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
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Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Reality
REMOVE SAVINGS -> FORCE INTO RISK
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Flawed Premise & Mistaken Role
VISIBLE
LESS VISIBLE
FISCAL POLICY
MONETARY POLICY
CONSTITUTIONAL RIGHTS
“Feeding at the Government trough”
“Competitive Advantage”
“Removal of Choice”
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
Macro AnalyticsSeptember 22nd, 2012
FEDERAL RESERVE: Reality
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
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MACRO ANALYTICS LIBRARY
Macro AnalyticsSeptember 22nd, 2012
DISCLOSURE STATEMENT AND TERMS OF USE
THE CONTENT OF THIS SLIDE PRESENTATION AND ITS ACCOMPANYING RECORDED AUDIO DISCUSSION ARE INTENDED FOR EDUCATIONAL PURPOSES ONLY.
This slide presentation and its accompanying recorded audio discussion are not a solicitation to trade or invest, and any analysis is the opinion of the author and is not to be used or relied upon as investment advice. Trading and investing can involve substantial risk of loss. Past performance is no guarantee of future returns/results. Commentary is only the opinions of the authors and should not to be used for investment decisions. You must carefully examine the risks associated with investing of any sort and whether investment programs are suitable for you. You should never invest or consider investments without a complete set of disclosure documents, and should consider the risks prior to investing. This slide presentation and its accompanying recorded audio discussion are not in any way a substitution for disclosure. Suitability of investing decisions rests solely with the investor. Your acknowledgement of this Disclosure and Term of Use Statement is a condition of access to it. Furthermore, any investments you may make are your sole responsibility.
THERE IS RISK OF LOSS IN TRADING AND INVESTING OF ANY KIND. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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