And...It's Gone: QE2 Ends As Dealers Flip Just Auctioned Off 7 Year Back To Fed After Holding It For Under 22 Hours

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Thu, 06/30/2011 - 11:05 | 1415555 mayhem_korner
mayhem_korner's picture

Is Brian Sack one of the 428K on this week's initial jobless rolls?

Thu, 06/30/2011 - 11:18 | 1415584 redpill
redpill's picture

lol, nice one

Thu, 06/30/2011 - 11:10 | 1415557 Innocent Bystander
Innocent Bystander's picture

Phew!... the calm before the next storm

Thu, 06/30/2011 - 11:55 | 1415722 whstlblwr
whstlblwr's picture

How long calm last? I'm not stock expert. But see forcing 30 biggest banks to raise capital, reserve requirement. Could be coincidence.

Thu, 06/30/2011 - 11:56 | 1415742 mayhem_korner
mayhem_korner's picture

You seem to be shorting pronouns and conjunctions.  How's that market?

Thu, 06/30/2011 - 12:16 | 1415806 toady
toady's picture

Sounds Eastern European...

Thu, 06/30/2011 - 12:21 | 1415821 Stuck on Zero
Stuck on Zero's picture

Naw.  He's using text disguising software.

Thu, 06/30/2011 - 11:12 | 1415560 alexwest
alexwest's picture

i wonder what FAT ASSHOLE rosenberg aka roise would say
on that .. he always come up w/ ideas who is going to buy debt


Thu, 06/30/2011 - 11:21 | 1415613 Cognitive Dissonance
Cognitive Dissonance's picture

Rosie got fat on rabbit stew. Watch your cute little ass or you might be lunch.

BTW it is "Rosie" not "roise".

Thu, 06/30/2011 - 11:47 | 1415687 mayhem_korner
mayhem_korner's picture

Was it earless rabbit stew?

Thu, 06/30/2011 - 12:20 | 1415831 AccreditedEYE
AccreditedEYE's picture

+1 LOL

Thu, 06/30/2011 - 11:30 | 1415638 Bertie Bear
Bertie Bear's picture

What happened ito bond yields in the UK when QE ended? Sod all. Rosie in right. Pimco is wrong. Go join the masses of traders who did their nuts shorting JGBs in the 1990s. Apparently no-one would buy these because the deficit was so high.

Thu, 06/30/2011 - 13:46 | 1416183 Johnny Lawrence
Johnny Lawrence's picture

Exactly.  Look at what bond yields have done in Japan over the last 15-16 years.

Thu, 06/30/2011 - 11:41 | 1415660 Bertie Bear
Bertie Bear's picture

......AND I bet you wouldn't abuse Abbey Cohen because her size would you. Anyway Rosie isn't that fat at all. Cuddly maybe, but never fat.

Thu, 06/30/2011 - 11:10 | 1415563 hedgeless_horseman
hedgeless_horseman's picture

The biggest question of who will buy bonds now that Primary Dealers will be unable to roll debt...

Households (in Reston, Va) will buy until QE3, then they will sell (at a profit).

Thu, 06/30/2011 - 11:13 | 1415579 Fundemental Pri...
Fundemental Principles's picture

Certainly not my household - I pay a service to keep the TERMITES out.

Paper eating vermin be damned!

Thu, 06/30/2011 - 12:05 | 1415721 hedgeless_horseman
hedgeless_horseman's picture
Security Auction
Date Issue
Date   Offer
  Amt. 13 wk Bill 07/05/11 07/07/11   27B 26 wk Bill 07/05/11 07/07/11   24B


Certainly, $51B in bids have already been lined up before the weekend - we taxpayers pay a premium to keep the VIGILANTES out.

Sovereign paper shorting vermin be damned!

Thu, 06/30/2011 - 11:14 | 1415569 Cdad
Cdad's picture

And just now on the BlowHorn [CNBC]:

"QE2 didn't do what it was supposed to do... I think we should just declare victory and move on...but in the end, I don't think it succeeded."  David Kelly, JP Morgan


Thu, 06/30/2011 - 11:21 | 1415612 HelluvaEngineer
HelluvaEngineer's picture

Worked just fine.  As proof, check out David Kelly's last bonus check.

Thu, 06/30/2011 - 11:23 | 1415619 SMG
SMG's picture

QE2 did exactly what it was suppossed to do. Which is what the Federal Reserve's real mandate is, simply to prop up the evil banking system at all costs.   Once you realize that this is true, all these actions make perfect sense, no matter what lies they say.

Thu, 06/30/2011 - 11:41 | 1415667 SheepDog-One
SheepDog-One's picture

Yea, but now what?

Thu, 06/30/2011 - 12:09 | 1415766 SMG
SMG's picture

My best guess is somehow (maybe war or a financial calamity) they are going to rally the dollar and crash the economy.  The banks and large corporations who are flush with dollars right now, will be able to seize any remaining assets the middle class and poor have left.   Then they destroy the dollar and bring in something like the SDR or Bancor on a global scale.

Thu, 06/30/2011 - 12:09 | 1415788 Bay of Pigs
Bay of Pigs's picture

No, everything is working just fine. Brian OFlanagan just said so on the silver thread.

I'm surprised he's not here setting the record straight for those of you who don't understand how the markets work.

Thu, 06/30/2011 - 11:28 | 1415622 Deepskyy
Deepskyy's picture

You just can't make this shit up.  If it wasn't so damn sad, it would be great social commentary.

Do we even care how deep the rabbit hole goes anymore?  Are we just along for the ride?


Thu, 06/30/2011 - 11:27 | 1415629 buzzsaw99
buzzsaw99's picture

methinks the maggot protesteth too much.

Thu, 06/30/2011 - 11:42 | 1415650 baby_BLYTHE
baby_BLYTHE's picture


Thu, 06/30/2011 - 12:19 | 1415828 Stuck on Zero
Stuck on Zero's picture

Could you be a bit more succinct?

Thu, 06/30/2011 - 12:02 | 1415750 Cdad
Cdad's picture

Just now on the BlowHorn [CNBC]:

"When they [equities] get cheap you got to buy ' can almost buy them blind."  Gordon Charlop

Sounds like fabulous advice, straight off the floor of the NYSE.

Thu, 06/30/2011 - 11:15 | 1415571 jtmo3
jtmo3's picture

"Goodbye net monetization of US debt."


Are you freakin dreaming?

Thu, 06/30/2011 - 11:24 | 1415609 SheepDog-One
SheepDog-One's picture

Its over, theyre done monetizing the debt into ETF's and therefore 401K's, which the Treasury will seize next.

Say goodnite Irene.

Thu, 06/30/2011 - 12:18 | 1415823 jtmo3
jtmo3's picture

You don't really believe that, do you?

Thu, 06/30/2011 - 18:38 | 1417186 LongBalls
LongBalls's picture

If your dumb you will sit back and watch them. If your smart you will take a 50% loan out on your 401K now as insurance. Reinvest it yourself so you don't loose via opportunity cost while you are paying back into your 401K. I just started trading a year ago and blew my John Hancock 401K performance out the window. I am up 32% versus 4.7%. The internal fee's kill a 401K anyhow. 401K's are a scam. They lock down your money so that Wall Street can gain weight. MY BET....they are coming after retirement accounts. Bet your chocolate starfish on it!

Thu, 06/30/2011 - 11:16 | 1415573 White.Star.Line
White.Star.Line's picture

22 hours might be as long as you would want to hold on before depreciation starts biting your investment.......

Thu, 06/30/2011 - 11:19 | 1415585 mayhem_korner
mayhem_korner's picture

You know what they say about once you drive a new car off the lot...

Thu, 06/30/2011 - 13:09 | 1416011 augie
augie's picture

Well if it's a GM car, then i believe the saying goes, "you'll be back in 15 min..." 

Thu, 06/30/2011 - 11:17 | 1415595 buzzsaw99
buzzsaw99's picture

hot potato

Thu, 06/30/2011 - 12:11 | 1415793 Caveman93
Caveman93's picture

Step one: Grab Grenade

Step two: Pull pin

Step three: Toss back and forth as quickly as possible

Thu, 06/30/2011 - 12:29 | 1415873 mayhem_korner
mayhem_korner's picture

OMG that is funny!!!

Thu, 06/30/2011 - 11:22 | 1415588 Dr. Engali
Dr. Engali's picture

Goodbye monetization until the dow drops below 11,000 and the 10 year yields 4%. Then old Benny boy will buy another trillion.

Thu, 06/30/2011 - 11:26 | 1415618 buzzsaw99
buzzsaw99's picture

naw, boner will balance the budget. lololololol

Thu, 06/30/2011 - 12:26 | 1415809 Problem Is
Problem Is's picture

If Bone-nher was a balanced budget boy...

He would cut back on his 55 gallon drum consumption of Orange-Man-Tan...

Thu, 06/30/2011 - 11:28 | 1415621 SheepDog-One
SheepDog-One's picture

Thats not the plan. Oh I know thats what they want everyone to BELIEVE the plan is, take a little dive on the equity markets, FED comes running to the rescue...except this time no one shows up to once again bail out bubble equities.

Americans with their normalcy bias coma are the easiest targets for 3rd worlding in history.

Party up this weekend, america, celebrate your 'Independance' (LMAO) in a drunken BBQ fest, as you dont even notice its all done, over.

Thu, 06/30/2011 - 11:37 | 1415653 Deepskyy
Deepskyy's picture

Is it bad that I'm actually hoping you are right Sheep?  I'm getting ancy about the SHTF timeline.  Lets get this party started!



Thu, 06/30/2011 - 23:35 | 1417845 bakken
bakken's picture

..but it doesn't end with a bang..but with a whimper.

Thu, 06/30/2011 - 11:42 | 1415669 Dr. Richard Head
Dr. Richard Head's picture

This 4th of July I, along with 15 volunteers, will be in the local parade with a car decked out with Ron Paul 2012 decorations and will be handing out slim jims promoting his Pres run. Pissing in the wind perhaps, but let it not be said that no one tried.

Fuck the Fed for all it's worth
Every single one on Earth

Thu, 06/30/2011 - 11:41 | 1415682 john39
john39's picture

too late, fed's job is done.  no doubt it will be discarded so some politician can claim that he fixed the problem.  meanwhile all valuable assets in the US will have been gobbled up by international banking interests.  no political fix for this, its way beyond it.

Thu, 06/30/2011 - 11:54 | 1415717 White.Star.Line
White.Star.Line's picture

You Sir, are awake!

Please proceed to the lifeboats. You now have an assigned seat

Thu, 06/30/2011 - 12:06 | 1415782 i-dog
i-dog's picture

+2 (one each)!

Thu, 06/30/2011 - 11:47 | 1415704 baby_BLYTHE
baby_BLYTHE's picture

Nice, I just put a Ron Paul 2012 bumper sticker on my car.

Often when I drive down the Eisenhower (290) to work in the city, I spot Homeland Security vehicles 'monitoring' activity on the expressway. My license plate is probably in one of their databases already

The slim jims are a great idea, btw.

Thu, 06/30/2011 - 12:25 | 1415837 Problem Is
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