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Did Someone Just Leak QE 2.0? Dollar Suddenly Can't Find A Bid
Did someone just leak QE 2.0? More importantly, why are stocks barely budging? Are all correlation models truly broken?
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lol , thanks
Thanks for the link, I'll check it out. I've currently got a 4-5 year timeline, plenty of time for things to go belly up.
repatriation back to Oz is way underrated ... ; )
repatriation back to Oz is way underrated ... ; )
Are we sure this had nothing to do with the treasury auctions? A change in Chinese policy? A formerly indirect buyer becoming a seller?
As of 249pm, with the nice news all around, the "free market" is trying to decide whether the S&P, after having gone up 71%+ in 10 months and 2.3% in 4 days should... go up another couple of % points in the next 71 mins. The whole thing will be added to the definition of absurd.
Well if the Chinese won't buy our treasuries somebody will have to might as well be the middle class:)
I meant what's left the middle class. The good news is you'll be paid $500,000 a year when you retire. The bad news a cup of coffee will cost $499,000.
People, let's get one thing straight here.
The DXY and the stock market won't both collapse at the same time.
So for those people who are calling the top on equities, you have to be long DXY at least temporarily (see January-March 2009).
I'm as big of a dollar bear as there is long-term, but ST you have to expect the DXY to break 80 if you think stocks are overvalued. Not everyone fleeing equities will put their proceeds in gold.
Someone doing a funny video about Timmy and distributing it over e-mail and You Tube might just be the piece making his staying fully unsustainable.
Stocks aren't moving but aren't falling either. I'm going to continue long in this market and keep relying on the invisible hand to protect me.
Consumer credit down some.
http://www.federalreserve.gov/releases/g19/Current/
Not moving markets though like it has in the past.
Can this be related to the number of bank failures declared today by FDIC?
California in fiscal emergency and "demanding" the Federal gvt. to hand it money (or....??????). G. accused. Unemployment bad. Consumer credit worse and worse and worse. Stock markets up.
And according to Ob. the US has always been the global leader regarding a clean energy future.
Gosh.
wow !! consumer credit down again - is that 7 months in a row now folks ? whats wrong with the sheeple ? dont they see the economy has recovered and market is heading higher ? I guess BB needs to pump some more into the system !!!
CC being down even after the Xmas shopping season really tells you something does it not ???????????
why are stocks barely budging? Oh that is because it is the time when shares are traded, it isn't 'normal' out of hours futures manipulation time when 1 contract can shift the market 100 points.
Or another reason is that everyone is waiting till the last 30 seconds of the day to buy at ever increasing prices.. why buy them now when they are cheaper? That would be idiotic!!!!!
Here is one of the appointed thieves:
A lawyer with a english degree:
Phyllis C. Borzi, Nominee for Assistant Secretary of Labor for Employee Benefits Security, Department of Labor
Phyllis C. Borzi is currently a research professor in the Department of Health Policy, School of Public Health and Health Services, The George Washington University Medical Center, where she is involved in research and policy analysis involving employee benefit plans, the uninsured, managed care, and legal barriers to the development of health information technology. In addition, she is of counsel with the Washington, D.C. law firm of O’Donoghue & O’Donoghue, LLP where she specializes in ERISA and other legal areas affecting employee benefit plans, including pensions and retirement savings, health plans, and discrimination based on age or disability. Until January 1995, Borzi served as pension and employee benefit counsel for the U.S. House of Representatives, Subcommittee on Labor-Management Relations of the Committee on Education and Labor. She was on the Committee staff for 16 years. In 1993, in connection with the Presidential Task Force on Health Care Reform, chaired by former First Lady Hillary Rodham Clinton, Borzi served on working groups dealing with insurance reform, workers’ compensation and employer coverage. She holds a Master of Arts degree in English from Syracuse University and received her law degree from Catholic University Law School, where she was editor-in-chief of the law review. Borzi is a charter member and a former President of the American College of Employee Benefit Counsel; she served as a member of its Board of Governors from 2000-2008. Borzi is also a current member of the Advisory Board of the BNA Pension & Benefits Reporter (and a former co-chair of the Board) and a former member of the Advisory Committee of the Pension Benefit Guaranty Corporation. She is also a member of the Advisory Board of the Pension Research Council, The Wharton School, The University of Pennsylvania and a member of the Board of the Women’s Institute for a Secure Retirement (WISER). In 2008, Borzi was appointed by the U.S. District Court for the Northern District of Ohio to serve as a public member of the Administrative Committee for the Goodyear VEBA, an entity that was judicially established pursuant to a negotiated settlement agreement between the company, the Steelworkers and class representatives for the Steelworkers retirees. Borzi has published numerous articles on ERISA, health care law and policy and retirement security issues and is a frequent speaker on programs sponsored by legal, professional, business, consumer and state and local governmental organizations. An active member of the American Bar Association, Borzi is the current chair of the ABA’s Joint Committee on Employee Benefits (representing the Health Law Section) and a member of the CLE committee of the D.C. Bar Association. She is a member of the District of Columbia Bar and has been admitted to practice before the U.S. Court of Appeals for the District of Columbia Circuit and the U.S. Supreme Court.
I'll paypal $5 to the first person to get a email addy and phone # for her and the other jerk as well. Mark Iwry
If these people move forward with this they will be walking into a trap...only thing dumber would be to ban football, beer or confiscate everyones TV.
Important Update Folks (via Denninger's Market Ticker):
http://market-ticker.denninger.net/archives/1830-401kIRA-Screw-Job-Coming.html
You MUST IMMEDIATELY or AS SOON AS POSSIBLE withdraw ALL funds in your 401(k)/IRA retirement accounts as they are about to be FORCIBLY "invested" in soon-to-be-worthless Treasuries. So you were wondering how the US Govt. was planning on selling over $2 Trillion worth of toilet-paper...er.."Treasuries" this year? Wonder no more...they will be STEALING the money from you at gunpoint. If you are worried about the penalties imposed upon withdrawal, don't be - just buy PHYSICAL Gold and Silver with the money, preferably in your personal possession, and the massive appreciation - both in nominal and real terms - will more than take care of any losses due to penalties.
WTF.
If this thing ever gets any legs, my money will get rescued by me. It is hard to believe something like this would even be discussed. Is this the USA or What?
They have talked about this before. See this one:
Dems Target Private Retirement Accounts Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAshttp://www.carolinajournal.com/exclusives/dems-target-private-retirement...
I hope these idiots get thrown out of office next Nov.
Peter Schiff has discussed that the US might try to confiscate investments if things get bad enough..... I have always taken this with a grain of salt, but it does make you wonder.
I guess they want the entire populace to be drones dependent on the government!
Has anyone considered the notion that this may be a scare tactic designed to create a pop in federal revenues? Seriously, what if 5% of the 401(k)-holding public bailed, took their penalties, and paid taxes at their current PIT rates? Seems like a good way to corral funds into the treasury w/out issuing a single interest-bearing note.
Has anyone considered the notion that this may be a scare tactic designed to create a pop in federal revenues? Seriously, what if 5% of the 401(k)-holding public bailed, took their penalties, and paid taxes at their current PIT rates? Seems like a good way to corral funds into the treasury w/out issuing a single interest-bearing note.
see: Hanlon's Razor
see: reality
No they are not. Not yet. There are many, many, many things the govt can do, short of FORCING 401(k) into treasury to increase investing in govt bond. They can eliminate the capital gains tax and make interest on T-Bills tax free, etc.
Making stocks much less attractive has to be part of the plan. You will better served getting ready for the coming stock crash than moving your money around right now.
Of course, if you are old enough to take money out without paying the penalty then get it out. Income taxes are going up eventually so pay the lower tax now, get it out and avoid the hassle of all the coming regulation.
But otherwise you have time. Why is it every time something like this happens, we have to go all the way to the Road Warrior, end of world, gold, ammunition, and canned goods. We are still a few years away from that.
You are a complete idiot if you think buying Gold means the end of the world.
For some...I think it is. ;-)
Oh I own lots of gold. 30% of my portfolio is gold and PM. mostly gold.
But when it is Road Warrior time, the ONLY thing to do is buy gold, ammunition, and can goods and head to the bunker. People always go to the extreme, govt gonna seize your money, global warming means seas rise 40 feet, peak oil means, well Road Warrior.
The thing is Road Warrior never comes. It is slow steady grind that kills. Everything seems OK and then one day you wake up and no jobs have been created for 10 years and real personal wages have not gone up in 30+ years and people under the age of 24 have 20%+ unemployment and not much hope of jobs for the next 10 years.
And for all you tea baggers out there, time to get real. Old men worried about their Medicare and 401(k)'s are not the stuff revolutions are made of. Revolutions are made by 20 year olds hanging out on the street with too much time on their hands. And we are going to have a lot of that going on for the next 10 years.
So yeah, stay frosty, things will get a lot worse in the next 10 years. But as bad as it will get, it will not get as bad as YOU think it will. And there will be money to be made, always is.
Would love to. How do you get it out of current employer retirement plan withouth quitting? Don't do loans and don't qualify for "hardship" withdrawal.
Ideas???
I'm in the same boat as anon. I have assumed I am stuck.
I rolled mine into a SEP-IRA when I changed jobs but I dont think you can do that unless you quit your job. FWIW, IMHO, when ever you leave one place, dont roll the 401(k) into the new jobs 401(k). Go to Schwab or some place like it, set up an IRA and roll your 401(k) into that. You will have much more trading options when you do that. And you can pull money out of it at any time BUT YOU MUST PAY a 10% tax penalty on top of what ever your regular tax rate is unless you are 59 1/2 or older.
What ever is going on, at this point, in this economy, it is not worth quiting your job just to get to the money. Which is fine since it it also not worth an additional 10% penalty to get the money all the way out.
At this time, subject to change.
could you engineer a hardship?
Look at the picture. It looks like Larry Flynt raped a slug and produced this thing. No offense to Larry Flynt.
http://www.pionline.com/article/20090907/FACETOFACE/309079996
Is it possible for someone in the media to get a interview with this lady? Or is she too high up to talk to the little people about her mission to steal a trillion dollars?
Jabba the Wonk
love your avatar
So like, that chart... is this like, one of those fat finger thingies? And then like, they'll call off all the trades and yell "DO OVER!"
Those who manipulate the organized habits and opinions of the masses constitute an invisible government which is the true ruling power of the country…. It remains a fact in almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by this relatively small number of persons…. As civilization has become more complex, and as the need for invisible government has been increasingly demonstrated, the technical means have been invented and developed by which opinion may be regimented.
Yeah. But get this, that opinion you just expressed? The invisible government maaaade you express it. That's right. When you think you are rebelling, you are actually enacting their will.
You are more f@cked than most of us cause you believe you see the truth. You see the truth they want you to see, the one you posted as Anonymous on Fri, 01/08/2010 - 15:26
#187565
The reason everyone needs gobs of money is because that's how we network. So the ones running it have screwed the system and we are going to have to find other ways to network. If you are going to buy gold, guns, cans of soup and go hide under a rock, well life's a bitch and you are going to die anyway, so why run scared? The only way people can function is as a community. My advice is to make friends with the people you know. Build bridges. Join community groups and don't go there to shout, but just get the lay of the land. It's going to be the roller coaster ride from hell for awhile, so sit back and enjoy it and be prepared to pick up the pieces when the dust starts to settle.
John Brodix Merryman Jr.
Sparks, Maryland
(Why the fuck does anyone care who knows their name? The freaking gov can't find a crouch bomber when his own father fingers him!!!)
When I saw this a few days ago, I thought ... "Well this probably won't last long. These guys have NO sense of humour & they will take the link down right away." Ha! It's still up.
Somebody set up the word Illuminati backwards & added .com to it. itanimulli.com
You want your laugh for the day? This should do it.
This is funny. If they don't know for this long then they are hacks. If they do know, guess it's a recruiting tool. Note the new interactive games. What if you did well? They would know...
Thanks for the laugh!!
Cashed my IRA just before new years.
I'll let my uncle look me up for (HIS) imposed penalty.
Chances are he's to f...... clueless to notice.
Regardless.... NO WAY I'm investing in Wall St.
And yes, this IS a political statement as much as a loss of trust issue.
Re. "The freaking gov can't find a crouch bomber when his own father fingers him!!!"
You believe that? I don't. Former head of the homeland, Michael Chertoff's running around hawking body scanners for his new company.
Maybe it's what you mean by 'gov', but I can assure you that we are/ all traffic is being tracked, then bots search the haystack for needles. At this point, somewhat annoying needles might get hassled. More annoying needles ... see Michael Ruppert, Gary Webb, et. al.
So blog on as a moral/political/patriotic/altruistic duty, but understand the game.
I agree with your networking point Mr. Merryman.
KD is pompus and naive, (try posting on TF about 9/11) but getting better. In his 2009 scorecard, he admits he was wrong about PM's
ZH is great. Thanks Tyler.
The very choppy USD Index daily chart is now neutral to bearish.
The weekly chart continues to give bullish warnings.
http://www.zerohedge.com/forum/market-outlook-0
KD is a funny lad..... He see's something and writes a "ticker" on it like someone really gives a shit and it goes DIRECTLY to Obama's blackberry....as if he is scolding someone.....LOL... funny man
denninger's useful. he rants, and he is a douche, but he presents useful information. you can be smart, and be an ass at the same time.you could be a brain surgeon, and be clueless, when it comes to doing a tune-up on your car.ego always drops the first turd in the punchbowl.
I have given this a bit of thought. It's a shame so many posters aren't adding to anythingy here. Yes there are a lot of ZH followers, but I have found if you disagree and actually can make a good argument they leave you alone. The contrarian argument always takes more data to support and the articles and logic presented here are great. Hard to beat. Therefore the issue has to be why is the market so far away from the logic of the economy. This is what ZH is best at.
My analysis of the currency situation is thus: we had no end of year sell off, but the dollar rose. therefore there was a sell off, but the fact that goldman, JP morgan chase can borrow unlimited at the discount window allowed them to prop up the market (after all the entire reason for giving goldman access to the discout window was to keep the market up). The WSj reports increased lending to hedge funds.
Now that the new year has passed the money is moving out of the dollar. the wall street titans hope this will carry the market higher.
Evidence of this happening was spy was not selling off the entire month of december. (manipulation), which moved against currency flows.
additional evidence of manipulation: gdp being corrected down (3.5-3.2-2.8) no market movement down, revised housing down, no market movement, revised employemnt not better, no market movement.
when you see the market not moving the way numbers say it should, the way capital flows say it should (big selling by insiders, and mutual funds), and currency. The only answer can be cheap funding by fed, or overt fed manipulation. somebody has enough money to make sure a bid is held that doesn't allow it to drop.
This is effectively the same pattern we saw from august into september. Euro sold off, market didn't really drop, when euro rose market rose Aug 3rd to september 3'd. this added about 3& to the market at this time. Perhaps more because the suro may have sld off more without that the big boys giving support.
from december to Jan the effect was much more pronounced as meaasure by currency movement. Who would have thought that there wasn't going to be a big drop at the end of year when people took profits. Currency movement ways there was, but SPY for some reason didn't go down. clearly investment in the dollar wasn't about our economy. In addition you had dubai, and greece which shoud have caused a real trade back to risk aversion. Yet when the us markets opened after dubai there was huge buying. Where did all this money come from? this movement made no sense Big shocks to the system, market moves other way (huh) hard to believe the risk aversion trade wouldn't be in play. It was!!!Once more somebody wwas preventing ou market from having an appropriate correction based on facts
I would like to add that the dominance of HFT, goldmans' exclusive SLP relation, and the arrangements that effectively make trading free or profitable for the big boys only encrease the ability to manipulate the market. If the bigger players had to actually apy appropriate costs of trading (like the pubic) for their tiny share purchases it would be much less cots effective to manipulate the market
The fact that folks like goldman can make money when the market does not even move up, by just trading back and forth
and receiving funds for doing so by the NYSE only makes the manipulation more cost effective.
This is an awful relationship designed to distort the market and make it easier for the big boys to manipulate it.
Look we had the fastest market fall and rise in history, if anyone actually believes this happened in isoltation without all these factors playing an effect I feel sorry for you.