"Chaircreature” was a character in the television science fiction series, The Tomorrow People (1979). The creature chaired the Galactic Federation.
Chairmen (and chairwomen) have been dubbed “chaircreatures” by several critics, but the term had never been popularly associated with one writer or any one government agency or business. The Chairman of the Board of Governors of the Federal Reserve System has been called the “Fed Chairman” and “Fed Chief.” The blog Zero Hedge on January 20, 2011 used “Chaircreature” in its article, “John Taylor: The Fed’s Rightful Chairman.” The term “Chaircreature” (always capitalized) was used again in Zero Hedge articles of several following days.
On February 3, 2011, Zero Hedge used the nickname “Chairsatan.”
Wikipedia: Federal Reserve System
The Federal Reserve System (also known as the Federal Reserve, and informally as The Fed) is the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. Its duties today, according to official Federal Reserve documentation, are to conduct the nation’s monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.
The Federal Reserve System’s structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous other private U.S. member banks and various advisory councils. The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The responsibilities of the central bank are divided into several separate and independent parts, some private and some public. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.
According to the Board of Governors, the Federal Reserve is independent within government in that “its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government.” However, its authority is derived from the U.S. Congress and is subject to congressional oversight. Additionally, the members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system’s highest-level employees. Thus the Federal Reserve has both private and public aspects. The U.S. Government receives all of the system’s annual profits, after a statutory dividend of 6% on member banks’ capital investment is paid, and an account surplus is maintained. The Federal Reserve transferred a record amount of $45 billion to the U.S. Treasury in 2009.
Wikipedia: Chairman of the Federal Reserve
The Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as “Chairman of the Fed,” or in market circles “Fed Chairman” or “Fed Chief”. The Chairman is the “active executive officer” (see 12 U.S.C. § 242) of the Board of Governors of the Federal Reserve System.
The Tomorrow People—Character Information
The creature that chaired the Galactic Federation committee that discussed the Sorson and Thargon incursion into closed space around the Earth.
The Chaircreature sent John to the Proctor Detention Centre when he objected to the lack of action taken by the committee.
Episode: War of Empires.
Actor: David Cann.
John Taylor: The Fed’s Rightful Chairman
Submitted by Tyler Durden on 01/20/2011 18:34 -0500
Precisely a year ago, in advance of the then farcical renomination of the genocidal maniac for his nth term at the printer’s, Zero Hedge nominated John Taylor of Stanford for Fed Chairman. Of course, in the subsequent theater in which the purchased cretinous zombies with Wall Street bank indulgence accounts known as Congressmen, it was a given that the Chaircreature would be appointed for his subsequent (and last) term. Yet in the intervening one year, Taylor’s role in monetary affairs has only gotten stronger, to the point where BusinessWeek has just released an article titled: “John Taylor: The Republicans’ Shadow Fed Chairman.”
Stunner: Gold Standard Fully Supported By… Alan Greenspan!?
Submitted by Tyler Durden on 01/21/2011 11:58 -0500
You read that right. After such establishment “luminaries” as World Bank president Robert Zoellick, Warren Buffett’s father Howard, Jim Grant, and, most recently, Kansas Fed president Thomas Hoenig, all voiced their support for a return to a gold standard, the most recent addition to the motley group of contrite voodoo shamans is none othe than the man who is singlehandedly responsible for America’s addiction to cheap toxic credit, who spawned such destroyers of the middle class as the current Chaircreature, and who currently is the chief advisor in John Paulson’s crusade to gobble up every ounce of deliverable physical in the world: former Fed Chairman - Alan Greenspan!
Jim Grant: “The Fed Is Now In The Business Of Manipulating The Stock Market...Should Confess It Has Sinned Grievously”
Submitted by Tyler Durden on 01/28/2011 16:03 -0500
Jim Grant, who will never be accused of being a fan of the Criminal Reserve, and whose views on what will happen to asset prices in a printer-happy world are gradually being validated, appeared on Bloomberg TV, telling Margaret Brennan upfront that Bernanke owes the world an apology. Alas, after various revolutions around the world have been catalyzed by Bernanke’s policies, we have a feeling that ever more oppressed people will soon see the Printer in Chief as a patron saint of violent revolution, alas against crony regimes fully supported by the US (and hopefully the US will view it the same way when its time comes). That aside, Grant’s criticism of the Fed should really start to grate on the Chaircreature: “I think what would be very good for the Fed if there would be a confession, the Fed should confess that it has sinned grievously, and is in violation of every single precept of its founders and every single convention of classical central banking.”
New York City • Banking/Finance/Insurance • (1) Comments • Friday, January 28, 2011 • Permalink