One of our Proj Uno contestants projected that the “New fed chief will make a major announcement on that day.” On the days leading up to August 1st, our new current Fed chief was, in fact, being intently watched as economic experts were awaiting specific words from her.
However, nothing significant made it into the headline news that I’m aware. But just like other Uno dreams, sometimes the manifestation happens a bit early or a bit late (timing being the #1 problem are for these predictions).
When looking at the headline itself, one might have expected a newer Fed chief to take over Yellen’s position by August 1st and deliver a major announcement (or at least this is something I was considering).
Obviously, none of that happened, but yesterday, a major announcement did happen, and it’s been scattered everywhere at the top of all mainstream and alternative news networks. AND it doesn’t have to do with the current Fed chief, but rather the “newer” Fed member, Mr. Stanley Fischer.
Brief History Required
The words used in the Uno dream suddenly make sense because as of Suzanne’s dream (dreamt on the night of June 1, 2014), Fischer had been in his position as the new Fed vice-chief by only 3 days! In essence, he was exactly the person referred to in this dream!
Fischer took over the #2 position on May 28, 2014 after some tours of duty at the World Bank and the Bank of Israel in years past. There’s no question that this man knows his stuff, looking at his extensive economic background, and that’s why his major announcement today should be turning a lot of heads.
The Major Announcement
“The global recovery has been disappointing“
Economic News Today: Fed’s No. 2 Calls Recovery Poor
Mr. Fischer blamed three key factors for the slower-than-expected pace of U.S. economic expansion.
“The housing market, fiscal consolidation, and unexpectedly anemic foreign demand all play a significant role in explaining the weakness of aggregate demand in the U.S. economy, weakness that could not have been accurately predicted based on past recession experiences or by the fact that this recession started with a massive financial crisis,” Mr. Fischer said.
Dual Citizen
Fischer is both a citizen of the US and a citizen of Israel. He was actually born in Africa, so perhaps all three of those significant locals made him prime meat for the World Bank.
What is a dual citizen doing making higher level decisions that our own Congress cannot see (remember that Congress is not allowed to audit the Fed Reserve)? This just seems strange to me that a person who straddles two countries can make such significant decisions and never have to be audited or held accountable for those decisions.
Furthermore, as a previous dual citizen myself, I’m wondering why this gentlemen gets to resume a dual status since I was forced to abandon mine at the age of 21 (at the time I was both Spanish and US citizen).
Without doing the necessary homework on this topic, I’m wondering if his behind-the-curtain decisions are benefiting certain individuals and/or certain countries? Unfortunately, no one will know this answer because the Fed is immune from inspection. All we can do is congratulate our Proj Uno dreamer for “seeing” this announcement.
DreamSeer
With the time aspect set aside, we’re looking at a 4.7ish here. We decrement a smidgeon because the word “chief” was used, when it should have been “vice chief.” The score wasn’t decremented more than this because “new chief” was, in fact, enough to figure out that it was Fisher and not Yellen.
Make no mistake…this could be the biggest announcement yet from the Federal Reserve, which is truly a great prediction from the dream. Admitting at this late stage in the game that the game hasn’t fully recovered is both true and ominous. Well done, Suzanne!
To view more Proj Aug headlines, click here.
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Copyright © 2014 Chris McCleary. Except for quotes, all rights reserved and any reference about this material requires a link back to this page.
One overlooked announcement made by Mr. Fischer was that bail-ins are a near certainty in the USA now.
From his speech, which can be viewed here: http://www.federalreserve.gov/newsevents/speech/fischer20140811a.htm?
Text from the speech below:
As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding–this cushion is known as a “gone concern” buffer.