From:
Nobel Laureate Diamond Withdraws Nomination to Fed Board
(Bloomberg.com) -- by Joshua Zumbrun --
Nobel laureate Peter Diamond, nominated three times by President Barack Obama to serve on the Federal Reserve’s board of governors, withdrew his nomination in the face of Republican opposition.
Diamond announced he won’t seek the position in an opinion article posted yesterday on the New York Times website, saying his opponents failed to appreciate that analysis of unemployment is essential to effective monetary policy. A Massachusetts Institute of Technology professor, Diamond won the Nobel Prize in economics in October for his work on the labor market.
“The Republicans on the committee voted in lockstep against my appointment, making it extremely unlikely that the opposition to a full Senate vote can be overcome,” Diamond said. “It is time for me to withdraw, as I plan to inform the White House.”
The withdrawal ends a 14-month nomination effort resisted by Senator Richard Shelby of Alabama, the senior Republican on the Senate Banking Committee, who with party colleagues repeatedly criticized Diamond for supporting the central bank’s record monetary stimulus.
“We are deeply disappointed that this candidate, who had initially seen bipartisan support, fell victim to partisan obstructionism at this important time for our economic recovery,” White House press secretary Jay Carney said today in an e-mailed statement. “The president will nominate an individual for this position as soon as possible.”
Nobel Laureate Diamond Withdraws Nomination to Fed Board
Rejected Diamond
Nobel laureate Peter Diamond, nominated three times by President Barack Obama to serve on the Federal Reserve’s board of governors, withdrew his nomination in the face of Republican opposition.
Diamond announced he won’t seek the position in an opinion article posted yesterday on the New York Times website, saying his opponents failed to appreciate that analysis of unemployment is essential to effective monetary policy. A Massachusetts Institute of Technology professor, Diamond won the Nobel Prize in economics in October for his work on the labor market.
“The Republicans on the committee voted in lockstep against my appointment, making it extremely unlikely that the opposition to a full Senate vote can be overcome,” Diamond said. “It is time for me to withdraw, as I plan to inform the White House.”
Shelby and the other nine Republicans on the banking panel voted last month against the advance of Diamond’s nomination to the full Senate, while the 12 Democrats backed Diamond for the post.
“It is my hope that President Obama will now nominate someone capable of garnering bipartisan support in the Senate,” Shelby said yesterday in a statement. “It would be my hope that the President will not seek to pack the Fed with those who will use the institution to finance his profligate spending and agenda.”
While awaiting Senate approval, Diamond voiced support for Fed Chairman Ben S. Bernanke’s plan to purchase $600 billion in Treasury securities.While awaiting Senate approval, Diamond voiced support for Fed Chairman Ben S. Bernanke’s plan to purchase $600 billion in Treasury securities. The policy of so-called quantitative easing is aimed at spurring economic growth, averting a broad-based decline in prices and reducing a jobless rate stuck near 9 percent.
‘Crucial’ to Policy
Diamond in the opinion article said his critics held “a fundamental misunderstanding: a failure to recognize that analysis of unemployment is crucial to conducting monetary policy.”
Diamond, 71, affirmed his defense of the Fed’s quantitative easing policy, saying that “concern about the (seemingly low) current risk of future inflation should not erase concern about the large costs of continuing high unemployment.”...MORE...LINK
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Chris Moore comments:
The link HERE is a rather crude but accurate discussion of the Jewish identity and agenda of the overwhelming majority of these Federal Reserve swindlers. Here is a more precise documentation.
In addition to the fact that Jewry has so much wealth and power in this country and can purchase whatever politicians and appointments it wants, why has the Political Class inserted so many Judeofascists into the upper echelons of the American hierarchy?
Because they are cunning and ruthless fraudsters, they have been historically utilized as middlemen by all manner of corrupt regimes to plunder their own countries and peoples, and to design and implement the Ponzi schemes used to do it.
In the case of the corrupt and fallen American "elite" and its Fed mechanism, the Ponzi scheme is Marxist-lite, money-printing Keynesianism and State Capitalism that has plundered the good credit built up by generations of honest and hard-working Americans, and has been used to paper over the Globalist and corporatist exportation of American industry to cheap-labor countries in order to maximize the elite's profits, and to buy off government unions and their lackeys on the Left, and the military-industrial complex and its lackeys on the Right while it was being done.
Raised in an insular culture of racism and contempt that is taught to fear, loathe and despise their non-Jewish neighbors, Judeofascists make the perfect partners for corrupt elites that themselves have contempt for average people, which so many of them regard as peasants and fools to be manipulated, exploited, plundered and discarded.
And the Judeofascists are able to pull it all off under the auspices of "humanitarianism" and "progress." (Note, for example, the claim in the article above that Peter Diamond was going to be an advocate for the unemployed. Only a sick, craven liberal and a hopelessly corrupt and demented "conservative" would pretend to believe that the unemployed will be served by perpetuating the nation-plundering, elite-enriching, Keynesian Ponzi scheme and the bankrupting wars necessary to sustain it that have together saddled Americans with insurmountable debt.)
For corrupt Washington and post-Christian and pseudo-Christian America, who better to turn to in a partnership of theft, swindle, murder and fraud than silver-tongued Judeofascists?
Are the dimwitted Republicans finally realizing that these Ponzi-scheme swindles they themselves have encouraged in partnership with the Judeofascist syndicate running American liberalism for all these years is killing the Golden Goose? Perhaps. Has the horse already left the barn? Unquestionably.
This is why I utterly despise the generations of American "elites" that helped the Judeofascist predators insert themselves into the U.S. hierarchy. History warned us time and again about what the Judeofascists are capable of, yet these utterly defective, character lacking, counterfeit "conservative," "liberal" and "patriotic" neocon-neolib elites thought they knew better, or pretended to in order to serve their own greed and corruption.
They know NOTHING, and or worth NOTHING.
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