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Fed Cancels POMO
Who would have thought that monetizing our way to a bright Weimar future is "market contingent." With the EU dude crashing the market at 10:59 am and spooking the Primary Dealers, what does one expect?
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Ran out of ink. I've been warning about peak-ink.
GS heard you and their 48 hour old puts are working out lovely.
"peak-ink"
Brilliant!
lmao
GS heard you and their 48 hour old puts are working out lovely.
Why would they cancel the POMO? I had my life savings in a wheelbarrow ready to go to the grocery store and get a loaf of bread.
Actually I expected them to double to treble it.
Anyone want to play the call game.
Lowest point, -2.00%...end of day close will be 0.01% positive.
LOL
+1
+1
If it is all going to shit, can it please do so before April 15th?
lol, i've been putting off doing my taxes for the exact same reason.
Hey, there are more of us in this boat than I anticipated.
Did Benny just roll snake eyes? Time to crack the bubbly?
I'm can't think of a better year to file for an extension, which I am doing.
Wow, just think what would happen if everybody who owes taxes files an extension this year. The treasury would run out of money and we would hit the debt ceiling faster, as they still have to issue refunds in a timely manner, yet revenues from tax receipts would be way down. Hmmmm......
You still have to pay taxes on time, the extension only allows you to file the tax return at a later date.
Claim you are dead earlier than expected, rent/purchase everything cash, stop using facebook and setup a new online identity? Basically vanish.
How to be Invisible, on Amazon.
What? Mo info!
its over....the dream is collapsing...
It's been collapsed for some time doom. Now they have to face the reality of it. Papering over problems and always finding an optimistic spin only works until the rest of the world calls you out for what you (the U.S.) are: a fraud.
Drudge is reporting the Fraud-in-chief is going to Rio for the weekend. What are wind patterns to Rio looking like?
Wrong hemisphere...that is WHY he is going there. The Jet stream will carry the 'stuff' right through the middle of the US.
http://squall.sfsu.edu/gif/jetstream_norhem_00.gif
That was my sneaking suspicion.
Maybe it's really being run out of the Fed's Tokyo office and everyone left town...
Bernanke's printing press is in full meltdown.
His printing core is exposed now isn't it?
So what happens when the $4 billion a day of stock support, as POMO is cancelled, disappears? Does it really disappear? If primary dealers are flush with Benny two-ply and no one sees it, can you wipe your ass?
Well it is such a large operation that it needed its own nuclear reactor.
Who needs POMO...the way S&P 500 is trading with huge volume after any sizable selling I would say PPT will take the reins.
SPX
Update.
http://www.zerohedge.com/forum/99er-charts-0
Just BTF SELL FIRST ASK QUESTIONS LATER, bitchez
This is a smoothe move by Ben.
Go to buying SPY directly.
Fed needed the cash to buy IYR, SPY, and IWM
The BOJ and other central banks might as well pour all the fiat they're printing on top of Daiichi.
edit
edit
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Someone posted quite awhile ago:
'It's like picking up nickles in front of a steam roller..'
No sh*t..!!
4x? Wtf messkit? You got DT's?
popular topic..server jammed..
sorry
So did you buy the dip?
MUST.CLOSE.GREEN.
Nice PPT work at 11:10.
The delusional longs still thinks the FED has their backs? LOL
It's time to run for the hills when they cancel a POMO, it means trouble, and Benny doesn't want to catch the falling knife anymore.
They needed their powerful computers to help Ben do his bracket picks so no POMO today. Some things are more important than printing money.
They needed their powerful computers to help Ben do his bracket picks so no POMO today. Some things are more important than printing money.
They needed their powerful computers to help Ben do his bracket picks so no POMO today. Some things are more important than printing money.
Treasury out of Cash???
Who believes Ben anymore?
Straight POMO to Japan. Thinking that Fed is buying back paper direct from Japan, instead of the market.
This is Crash Prep....a big one too!
The Fed wants a crash now...they can blame something else.
The Bernank knows what "purge the rottenness from the system" means.
Nice PPT work at 11:10.
shit...meets...fan.
Should I buy the fucking dip.
I thought they only had $14.3 left and needed to POMO?
Treasuries are up anyway, they safe the money for later...
"The money printer will continue to print, that I’m sure."
This mean they are now desperate, as it seems that even with all the disasters, wars etc dollar is not getting off the floor? 100% Sure Bernanke is confused about it.
The fed/treasury have been using Pimco the entire crisis to tell the public what it needs so that when the fed/treasury implement Gross's statements as policy everyone thinks its smart. I didn't think his decision not to buy treasuries was part of this strategy, but on other hand.... But go back to every major fed/treasury policy decision in past 3 years, and Gross has telegraphed it in advance on CNBC. Could this really be start of the end of QEX?
Or could it be that the PD's agreed to prices that were below where they immediately traded after the EU energy minister comments and since the policy is to enrich the PD's they cancelled the trades?
If it meant an end to QE X, then it would necessarily mean the price of treasuries would increase given the inherent requirement of the FED to defend its book/solvency... QE is only ended when there is sufficient external demand for U.S. debt... (i.e. only in temporary bursts at best and only in the short to medium term). A failed auction is not an option given it necessarily defeats their ability to continue printing through status as the world's reserve currency.
Interesting to know the Fed realizes it might not be able to fight a tsunami of fear. Keep that in mind the market conditions can compel the Fed to throw in the towel.
All hands on deck ... Fed will just simply buy stocks now.
No POMO? We're doomed, just doomed!
Don't be caught short or underestimate TPTB ability to extend and pretend.
Just when you think you got Ben figured out, he throws you a curveball.
The prices are too high, bonuses too small. After all POMO has to be "cost effective".
The Fed's balance sheet indicates that it will receive more than 500B in income from assets. I am wondering, what would stop the Fed from creating more debt against those assets without calling it "printing for POMO"?
Nothing will stop them. That's precisely what they'll do. QE forever....
Is this one-day event, or is POMO cancelled for good?
The bottom fell out when they announced it in flash crash style, and once TPTB seen the effects, decided they had better coninue or else the true bottom was going to be realized.
Hopefully, everyone got a glimpse of just what is destined ahead without QE munipilation, because we got a nice snapshot today.
But treasuries are rising. This seems to be a reflexive exit from stocks and a run for cover. But eventually, the awakening will come that US gov debt isn't such a good place for safety. Then, look out!
frost y sack only pomo at prices too high from their friends. in a panic situation their friends can sell at a profit elsewhere.
u r crazy.
it's not gonna happen
Markets Will Crack: Why It Is Not Too Late to Short-http://www.hedgefundlive.com/blog/markets-will-crack-why-it-is-not-too-late-to-short