This page has been archived and commenting is disabled.
Fed Decision: Will Reinvest MBS, QE 1.999 Is Here As $250 Billion More In Debt Monetizations On Deck
For immediate release
Information received since the Federal Open Market Committee met
in June indicates that the pace of recovery in output and employment has
slowed in recent months. Household spending is increasing gradually,
but remains constrained by high unemployment, modest income growth,
lower housing wealth, and tight credit. Business spending on equipment
and software is rising; however, investment in nonresidential structures
continues to be weak and employers remain reluctant to add to payrolls.
Housing starts remain at a depressed level. Bank lending has continued
to contract. Nonetheless, the Committee anticipates a gradual return to
higher levels of resource utilization in a context of price stability,
although the pace of economic recovery is likely to be more modest in
the near term than had been anticipated.
Measures of underlying inflation have trended lower in recent
quarters and, with substantial resource slack continuing to restrain
cost pressures and longer-term inflation expectations stable, inflation
is likely to be subdued for some time.
The Committee will maintain the target range for the federal
funds rate at 0 to 1/4 percent and continues to anticipate that economic
conditions, including low rates of resource utilization, subdued
inflation trends, and stable inflation expectations, are likely to
warrant exceptionally low levels of the federal funds rate for an
extended period.
To help support the economic recovery in a context of price
stability, the Committee will keep constant the Federal Reserve's
holdings of securities at their current level by reinvesting principal
payments from agency debt and agency mortgage-backed securities in
longer-term Treasury securities.1 The Committee will continue to roll over the Federal Reserve's holdings of Treasury securities as they mature.
The Committee will continue to monitor the economic outlook and
financial developments and will employ its policy tools as necessary to
promote economic recovery and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A.
Duke; Donald L. Kohn; Sandra Pianalto; Eric S. Rosengren; Daniel K.
Tarullo; and Kevin M. Warsh.
Voting against the policy was Thomas M. Hoenig, who judges that
the economy is recovering modestly, as projected. Accordingly, he
believed that continuing to express the expectation of exceptionally low
levels of the federal funds rate for an extended period was no longer
warranted and limits the Committee's ability to adjust policy when
needed. In addition, given economic and financial conditions, Mr. Hoenig
did not believe that keeping constant the size of the Federal Reserve's
holdings of longer-term securities at their current level was required
to support a return to the Committee's policy objectives.
And whooooooosh:
10 Year: 2.80%...... 2.78%......2.76%......2.75%
»
- 13894 reads
- Printer-friendly version
- Send to friend
- advertisements -
Well now we can all stop wondering. Wonder if it will be sell the news now that we have clarity. Looks to me like Bears have been on the sidelines simply waiting for a decision.
As I said in the other thread:
The 2/10 yield curve would flatten.
Da bitch has flattened like Senator Robert Byrd's EKG.
Now we're going to see compression in the markets where the 2 sticks around 0.50% and the 10 dives down to test 2.25-2.5% yield levels.
Fed just jumped the shark. All credibility gone. Gold blue sky this month. >1500 by year end. And im not even a gold bug , im just stating how this is going to go down. JPM are going to have to short the output of South Africa and China combined to keep a lid on this.
Become flexible.
Grab ass.
Kiss it, Goodbye.
(but we knew that along time ago).
It's too late to become flexible.
Question is, can one remain flexible?
Semper Gumbious
It took me a second, but that was funny. Thanks.
Agree with Rusty 100%. Truly funny. Great minds here at ZH.
Buy gold!
Take $500 (or local currency) from the ATM Thursday! "Let's Deflate the Bitchez!"
Black Friday to follow - the 13th will be unlucky for some. I call crash.
Too funny. That's the second time I've seen that today and on two wildly different forums.
Thanks for that crappy advice, LeBalance. I tried it and got slapped.
LOL.
Thanks for the reply.
grab ass kiss it
whoooosh hee-ha
safari atnt suck
what a croc of chit
Moving day!
S&P up 5+ points in seconds based on a bad economic outlook.
Any news that borrowing costs (bonds) are going to remain low is beneficial to the S&P companies who are waist-deep (and soon to be neck-deep) in debt.
'SWOOOOSH'!! Trademark that quick! Oh wait...
Hoenig was that 4th dentist who just never believed in flouride
I think the quote you are looking for is "4 out of 5 dentists surveyed recommended sugarless gum for their patients who chew gum". I think that would make Hoenig (in your analogy) dentist #5 (who apparently recommended taffy). I don't think the analogy holds. It's Bernanke giving out the candy. Consequences be damned
Who wants gum?
I do! I do!
http://www.youtube.com/watch?v=Gf_Jk1zLisg
Machoman: I respectfully disagree.
And special thanks to ZH for being so quick on the draw with these bulletins <removes hat>
Regards
Bernanke to China: Screw you. We'll buy our own bonds.
China to Bernanke: Since you are buying treasury bonds, how about buying some of the ones that we are selling. XOXO
China to China: Hell, let's take a lesson from the US and buy our own bonds
for just a leetle while.
I mean, let's really think about this:
1) Government is financed via a "bank" that prints it little pieces of paper (or digits) that it can use to "pay" for its shit. Government issues IOU's to said "bank"
2) Millions all over the world get their asses out of bed every day to slave for said paper/digits. In this case, the slaves trade labor for said "paper" that said "bank" prints and gives to said Government
3) What happens when said slaves become aware of said scam?
4) Guillotines appear. Federal Reserve employees surreptitiously burn their IDs in fireplace and bury the ashes. Tell neighbors they worked for Federal Employee Credit Union.
It will probably get to the point where anyone with a "Federal" employer is gonna be watched VERY closely!
) Chinese General Says U.S. Provocation Risks Economic Response
"Aug. 10 (Bloomberg) -- A Chinese general said U.S. plans to send a nuclear-powered aircraft carrier to the Yellow Sea may lead to retaliation from China, the biggest foreign holder of Treasuries.
"Imagine what the consequence will be if China’s biggest debtor nation challenges its creditor nation," Major General Luo Yuan, deputy secretary general of the People’s Liberation Army Academy of Military Sciences, wrote in an editorial today in the state-controlled English-language Global Times
China to US: "Put that big D!ck in your pants, no one wants to see it!"
dow to infinity... AND BEYOND!!! (facepalms all around)
Its Havenstein all over again.
Havenstein was kindergarten compared to this baby.
In the circles of gov-owned eCONomists, they do try to one up the big boy on the block.
Gets them a belt knotch at the Bohemian Grove.
...or Gideon Gono
http://freakingclueless.com/bernanke_gono_large.jpg
> "and will employ its policy tools as necessary to promote economic recovery and price stability."
Hahhaha!
The Federal Reserve is like a numbing agent, so that when you burn you hand you don't feel the pain -- until it's too late.
market should end green today! ALL HAIL BB!
and Rome burned.....
Euro Bitchez !
and gold is turning green
whiskey tango foxtrot thank god i don't have children that will be fighting in the next war
but you will be.
yes i know and ready for it,this one will actually be justified
The war won't be middle class against ruling class/Federal Reserve employees. That'll come after.
I'm guessing, when Obama has to pick an enemy to distract Americans from their emptied out 401-Ks, Venezuela will get the nod. They have oil, after all.
Someone once said: " The Fed will NOT monetize the federal debt". Who was that guy that said it?
Maybe he meant he won't monetize it with real money, because they are instead using that extra $1.5T in proceeds from earlier auctions to fund the current "demand?"
I might just hit my home refi target rate sooner than expected.
ASSHOLES! Everyone of them..... EVEN Hoenig. If he was that adamant about his feelings he would resign his post and officially come out in favor of auditing the FED.
YES!
+ a +/- $1200.
No no no, we need him there and one day make him the Chairman when everyone else resigns.
You know, if one pays heed to the advice produced by ZH, one will lose out on many, many opportunities to make money in the market.
Why do you guys so fight the fed. It seems everyone here knows the fed is going to inflate asset prices; why doesn't this site play up the earnings potential afforded by this reality?
Presumably you are smart enough to differentiate
NoMas lol Leo's 2nd ZH account!!
No, Leo I am not.
But I fail to see why ZH fights the inevitable. Hate the fed, hate the manipulation, hate the ramp up on vaper volumes, but - and this I believe is an important but, profit on their criminality. Profit on the fraud.
What are your options? Lose money while the same crimes are committed by the same people, over and over and over again?
I'm just suggesting that if the markets are going to be supported into perpituity by this corrupt organization know as the Federal Reserve, why not post on ways the ZHers can take some of this information to their advantage?
How can it hurt to make a few bucks off of this stuff?
FOFOA
fofoa.blogspot.com
FOFOA is The Man.
And he accepts donations by cash or check or even gold itself. Vote absentee!
He's not Leo, he's Robin Hood!
You can't be serious. Thats what Wall Street says too - we have a right to make money, don't we?
Meanwhile speculation destroys the world economy.
So I buy or sell an equity to or from a robot (my guess is that is what is left in the market outside of a few fools such as myself) and somehow that's equivilent to what the free fed money stock pumpers are doing?
I'm using my own money to try and make some money off of those pumping up this market. Do you somehow believe I am not free to do so? It is my property after all.
Trading in the markets is not a crime. Do you believe it to be immoral?
You can loot the Titanic if you want, just don't get stuck there as it slips below the waters. I, personally, grabbed a whole lifeboat for myself, and will sell it to those who are looting in exchange for 100% of their take (ie my gold will buy all of your assets, as it will appreciate much faster than you can imagine, just like a lifeboat seat on the Titanic would have as panic set in).
+1. Well said.
I may be foolish, but I don't believe in political investing. It is too volatile and can turn on a dime. Sometimes you know what they will do because there is no choice politically. But that is rare. People get thrown under the bus all the time.
Bernanke did that today. But there is no telling when he will back up the bus on top of his road kill.
Great remark re political investing. I don't trust any of 'em.
Guess we will all feel like getting thrown under the bus a lot more now. Does it hurt less when thrown, say, for the 5th time?
Betting on politicians printing money so they can play Santa Clause isn't really betting, dude.
Not if they raised Coolidge and Reagan from the dead to run for Prez-VP could they fix this. Gold is the bet of this century so far...sadly.
i'd like to think that some of us prefer sound(er) fiscal policy to fictitious appreciation.
Damn, so many good remarks that I have to keep commenting...
I think that it is .gov and its overspending that is the single biggest factor in the storm we are in. And we elected those guys...
cause we F-ing hate the fed
Because some of us recognize the futility of making a taxable, nominal gain when it is really a loss in purchasing power.
Just because they can spin the free-money wheel fast enough that some of it flows your way, is by no means reason enough by itself to play their game.
All herds are assembled for one reason, slaughter day. Sure you are fat and happy today, but you will eventually pay the ultimate price.
You mistake me for a memeber of the long side herd. Positions are easily reversed, fractions of a second really.
If the gain is lost to purchasing power, then is the opportunity cost not doubled by the loss in purchasing power? If I did not make $X today, do I somehow have greater purchasing power than if made the money.
I do not believe this will last. I believe we as a nation determined our fate with the elections in the 60's. Something for nothing is fine, so long as you can borrow money and the interest in not due. Our bills will someday come due, just not yet.
I remember playing kick the can on the dusty dirt roads of southern appalachia. One is able to kick a can far further than one might first imagine, especially with friends to help you along the way. This can has been kicked for awhile, but I believe we have much further to go.
Is that you Curtis?
Because such actions only delay they don't fix anything (think Japan) and they make the great majority of the people in america poorer
Here comes my 1% refi.
Time to buy a zombie gun.
Forget the deer in the headlights. Where is the deer through the windsield picture?
hahaha!
Here ya go:
http://www.snopes.com/photos/accident/durango.asp
The Fed should have agreed to step away from the problem.. but it's an understandable compromise
And the bond and stock markets are repelled apart like two magnets aligned positive pole to positive pole. Somethings gotta give.
the only thing that changes this is a currency crisis with the dollar. Between QE and midterms, there is zero chance they let the market go down in anyway.
Yeah, but what happens Nov 3d?
They wont make it till the mid terms. the market has about 6 weeks of gas left before it stalls and nose dives. Thats an optimistic time frame. If they engineer a flash crash soon , they could use some of that free money to pump it up hard in sep / oct , but unlikely going to do that. The insiders are just waiting for enough volume to unload into - popping 1130 will give them some distribution days and then we can fade away.
DING DONG!
Who's there?
This is short of the $1 trillion GS was asking for. Initial reaction is usually the wrong reaction. lets see where this bitch settles.
the heavy pounding is yet to come
No news, market rockets up.
Anyone surprised?
Federal Reverse, once again.
Perfect opportunity to sell any long positions. Watching the ticks on 1min bars is rather fun to watch.
*Yawn*
Boy those wideners really have to suck in a portfolio statement right now. How many are eating crow? Let's blow out the stops and go to cash.
What I'm really curious about is how they are going to manage the debt portfolio of the US right now, are they going to absorb the high coupon securities..... looks like I'm about to go back to work on my theories, let's monitor it this time a bit more closely, eh TD?
WOW USD index is tanking, $5,000 gold booster primed, stocks collapsing after fake pump, GO Ben GO!!
That Gold take off was impressive, wasn't it. It took 10 minutes and $9 before the Ponzi could wrestle that monster back under control. Back above $1,200 though. That's the afternoon project for the Ponzi. Gotta flush Gold back below $1,200 or it will scare some people.
Who is going to buy your gold at $1500, $2500, $5,000, $10,000 what are they going to buy it with? What are they going to buy with it? Spend your FRNs NOW!
For those who have enough FRNs around, physical gold is a bargain under $1500.
Buy, buy, buy. Never sell it. GIVE it away quietly.
Dupe post sorry.
Er...rich people who didn't see inflation coming and are willing to trade for purchasing power? Or the poor guy down the street who needs gold to buy food and is willing to sell me 25 of his 50 acres for it?
The Indefinite Circle Jerk
http://www.youtube.com/watch?v=-gb0mxcpPOU
Once again they have proven that the road they are kicking the can down is called Infinity Ave.
and this is what the end of it looks like
http://epsdraub.wikispaces.com/file/view/wherethesidewalkends.jpg/76205425/wherethesidewalkends.jpg
Fascinating.
Well, if the object of the game is to move from the short to the long side of the duration spectrum of government debt, to mitigate the roll risk when (not if) the jig is up, this should help, right?
Other than that, I fail to see what this accomplishes.
DO YOU POGO?
http://williambanzai7.blogspot.com/2010/08/do-you-pogo.html
Admittance that something is very wrong in our economy. See what you failed to understand in all your studies Ben is the problem with the Depression was not that they took stimulus away to fast..It is that they considered it at all as opposed to permitting the markets natural forces to work their magic. It is irrelevant when you pull the stimulus away because whenever that moment is the crash comes only it is compounded because your interventions only distort temporarily and are more harmful because they lull people into a sense of security.
Our entire financial markets are now completely reliant upon the Federal Reserve and at the markets will need low rates from here on out and annual MBS purchase just to seem "healthy". And this is how a free market vanishes. Quasi-Fed and Quasi-Markets. In the interim gold telling the truth and eventually even the Federal chairman will not possess the tools needed to move the markets.
The drugs have a diminishing effect on the crackhead and he requires more frequent and stronger doses to feel the same euphoria.
Facts are changing Ben...Time to start changing your mind
'Our entire financial markets are now completely reliant upon the Federal Reserve and ...'
Mission accomplished..
Sadly, it's beyond that. Near the end, the severely addicted needs bigger and bigger hits just to kill the pain of withdrawal, which feels like a high in and of itself. Rarely does the severely addicted ever get back to the old (high) days, regardless of the amount of drugs s/he takes.
This is the sign that the end is near. The body either physically collapses and the person dies or the body/mind approaches and then passes over into dementia. We are clearly into dementia and the dreaded DT's.
http://en.wikipedia.org/wiki/Delirium_tremens
http://en.wikipedia.org/wiki/Dementia
Nahh... we'll be just fine <sarc>
Supposedly when WC Fields was released from the drunk tank a reporter asked him what it was like having the DTs, and he responded "It's hard to tell where Hollywood ends and the DTs begin."
Spot on man. Great post.
Welcome to The Zombie Economy. Not just for banks anymore.
We just bought ourselves 6-9 months of breathing room. Oh. Kay.
I wonder what "they" plan on doing with the time so bought? Wall off the Hamptons into a self-contained fortress? If they don't then they are dumber than we all thought, because when QE2 is gone a lot more than shit is going to hit the fan. We'll be yearning for the days when shit was the only thing being torn apart and scattered all over the land.
I disagree. The last round, of about $2 Trillion (depending on what you count), bought us 6 months before the bubble started deflating.
This piddly amount might buy us a month, maybe two, before they have to revisit the issue.
The Democrats can kiss the mid-terms goodbye.
YEP
the damned thing is, i can't tell what this means. It iS a piddling amount.
Does it mean "Trillion $ chunks are too scary so lets dribble QE II out piecemeal going forward" or does it mean BB is gradually losing his taste for his own thesis seeing how little QE I got him?
Wow. 10 year down to 2.77%.
As usual, its about time frames and risk appetite. Does anyone on this site doubt that the true fundamentals are a steaming pile of BP ? No, obviously not, and fair enough. Thats not really the point any longer though. I work on the basis that people come here not just to sound off about people who could not care less about them, but also to debate ways to profit from the current hand we are dealt. Endless debates about TPTB,TBTF and always buying PMs are getting stale.
Bottom up company evidence that I am hearing in Europe tells me that some M&A is back on the table and corporate health is in good shape. This is not bearish for stocks, even if people want it to be. Hard luck.
That won't stop me hedging with cheap long dated puts mind you ;-)
Only problem is we are setting ourselves up for another credit and/or monetary crisis that will rock the markets like usual. Once the bond market decides things are too risky, everything could turn on a dime. Unknown outlier on the horizon.
goldman gave the marching orders yesterday.
$300B will buy how many S&P points?
Bernanke just blew his wad for a dime bag and a hand job.
Very Nice. Bernanke, the Bad Lieutenant
Just for the dime bag, as it was his own hand that did the stimulating:>()
LOL
Where's the ZH troll MasterBater when you need him?
Fading...
Mort Zuckerman said maybe even a triple-dip. Seinfeld has nothing on this guy.
He said he dosen't know how home prices will avoid falling in the future.
Rolling recessions in a Depression...deja vu 1933 all over again.
China can start selling and Treasuries and $, just on time.
Great point. Now the ChiComs can bail on the 10-30 year spreads and take the monetized crap dollars and roll into either their own bonds OR buy commodities and 1-3-6 month securities to keep a leash on our Fed. Brilliant. They are playing 3D chess while we are stuck playing tic-tac-toe again.
We knew it was coming, but it's rather bold to just stand in front of the world and slit the dollar's throat. It's like a dictator who knows he is immune to retribution. Just like the old days with Saddam... oh, wait he's dead.
But, But the Fed can't do that. The charts, K Denninger and Tyler said it can't be done. Bernanke with one breath of his nostrils say fuck that. Us shorts are now extinct.
"I'll kill a monetarist any time... But fo' a green caaard, I'll cut him up reeeal goood"
Dear Congress,
We have few options left to stoke inflation. It is therefore our recommendation that you keep spending like drunken sailors. At such time when necessary, we will support your spending by buying more bonds. If that does not create inflation then God help us all.
- Ben
http://www.youtube.com/watch?v=4J070e0Z8y8&feature=related
ZIRP4EVA
So Benny keeps the markets elevated until November. But the dems lose 40 seats anyway. Then congress is a circle jerk. Obama, one term and done.
Then our currency explodes?
In the meantime we will be invading Iraq:
http://www.google.com/hostednews/ap/article/ALeqM5hEhR845G1QgnUehgXPZUpQtPwK_QD9HG5R284
Also, there are more important issues, like why doesn't McDonald's serve nuggets in the AM: http://www.bbc.co.uk/news/world-us-canada-10922428
Iran?
Iran.
Sorry.
We already invaded Iraq. Forgot to check that one off my middle east war mongering list.
So is this a 4th or 5th mortgage we are on now?
Depends, when you can create a CDO of CDOs to make CDO^2, why not CDO^3, ..., CDO^n??
Again, depends on where the Dow closes today. Already gave up some of the pop. AUDJPY back to where it was before the FOMC announcement.
Just watching it patiently...
QE lite will keep prices artificially high. Unemployment, incomes, real estate, credit demand won't budge.
check out the AUD/JPY and ES, widest divergence recently.
So US officially became Zimbabwe - cannot live without printing money, mhmmm ....
Bernanke has the power of Ramsees ll. He says so let it be written , so let it be done and it's done. Praise the power of Bernanke. He is God.
So this is it until after the elections for QE2 or ARRA2.
We ask, what is supporting equities now?
Mark Beck
PPT? Robots / algorithms?
It ain't me supporting equities!
I fought the Law (Gravity) and the Law won!
Did they also mention what they will do with missed principal payments from agency debt and agency mortgage-backed securities?
That is the $64,000 question. I am going to assume that the collected interest will become part of the principal. If the haircut gets deeper, the Fed is defacto insolvent. Maiden Lane has already given them syphillus.
Anyone here trading short on days of the new moon, and long the two days after the first sliver appears?
Can't see Israel bombing Iran on anything but a dark, dark night.
Just put all that I have left in the ten year at 2.75%. Eat your hearts out suckers!
Unless I am missing something, the Fed has done nothing. Did anyone believe they were going to sell the mortgages back? They have been lying all the while. The banking system had no reserves other than their own bad paper. Hasn't that sunk in yet? The Federal Reserve money hasn't been in the banking system in years and the banks had very little treasury paper. Minsky, in his book, Stabilizing an unstable economy, pretty much recognized that the US banking system had been out of treasuries since 1973 and that they functioned on financial instruments such as large CD's and commercial paper and now make believe money known as derivatives. The QE wasn't to increase lending, but to allow banks to write clearable checks to each other. It would be impossible to take the money out of the system and not have an immediate credit crunch. The interbank liabilities are greater than the banks themselves can clear.
What the Fed has done is liquidate paper the banks did have and is now covering up their illegal actions by shifting the paper from illegal mortgages to legal treasuries. In a round about manner, they took illiquid paper from the banks and intend to convert it to legal treasuries. In the meantime, they are going to absorb $1 trillion of the mortgage market, money that may not come back to housing.
The Fed is the man behind the curtain. I read just a few of those posts, clearly by people who don't understand the situation. The Fed is taking money out of the economy when these mortgages are repaid. At least the Fed hopes they get repaid. They can't fix the credit situation, as the system is already insolvent. Obama is doing his best to wreck what is left of the economy, maybe because he is a Marxist and has to prove capitalism doesn't work. What doesn't work is government planning of the economy, as this is the second total train wreck in the 97 years since the Federal Reserve and government interference began in the economy. The bigger problem is all the elite capitalists are Marxists, as only totalitarianism cements their places in society.
It’s a interesting news,i like it.Additionally,wellcome to my website prettyboots.org ,here are so many UGGS On Sale such as:UGG Elsey wedge|UGG Elsey wedge black|UGG Elsey wedge chestnut|UGG Elsey wedge espresso|UGG Langley|UGG Langley black|UGG Langley chestnut|UGG Lo Pro Button|UGG Lo Pro Button black|UGG Lo Pro Button blue|UGG Lo Pro Button cream|UGG Mayfaire|UGG Mayfaire black|UGG Mayfaire chestnut|UGG Mayfaire chocolate|UGG Mayfaire sand|UGG Mayfaire red|UGG Nightfall|UGG Nightfall black|UGG Nightfall chestnut|UGG Nightfall chocolate|UGG Nightfall sand|UGG Sundance II|UGG Sundance II black|UGG Sundance II chestnut|UGG Sundance II chocolate|UGG Sundance II sand|UGG Ultimate Bind|UGG Ultimate Bind black|UGG Ultimate Bind chestnut|UGG Ultimate Bind chocolate|UGG Ultimate Bind sand|UGG Ultra Short|UGG Ultra Short chocolate|UGG Ultra Short sand|UGG Ultra Short black|UGG Ultra Tall|UGG Ultra Tall chestnut|UGG Ultra Tall sand|UGG Ultra Tall balck|UGG Ultra Tall chocolate|UGG Suede|UGG Suede black|UGG Suede chestnut|UGG Suede sand|UGG upside|UGG upside black|UGG upside chestnut|UGG upside mocha|UGG Roxy Tall|UGG Roxy Tall black|UGG Roxy Tall chestnut|UGG Roxy Tall chocolate|UGG Roxy Tall sand|UGG seline|UGG seline black|UGG seline chestnut|UGG Corinth Boots|UGG Liberty|UGG Liberty black|UGG Liberty cigar|UGG Highkoo|UGG Highkoo amber brown|UGG Highkoo espresso|UGG Highkoo grey|UGG Highkoo black|UGG Knightsbridge|UGG Knightsbridge black|UGG Knightsbridge chestnut|UGG Knightsbridge grey|UGG Knightsbridge sand|UGG Knightsbridge chocolate|UGG Adirondack|UGG Adirondack brown|UGG Adirondack chocolate|UGG Suburb Crochet|UGG Suburb Crochet black|UGG Suburb Crochet chestnut|UGG Suburb Crochet chocolate|UGG Suburb Crochet grey|UGG Suburb Crochet white|UGG Kensington|UGG Kensington black|UGG Kensington chestnut|UGG Roseberry|UGG Roseberry black|UGG Roseberry sand|UGG Gaviota|UGG Gaviota black|UGG Gaviota chestnut|UGG Gaviota chocolate|UGG Desoto|UGG Desoto black|UGG Desoto chestnut|UGG Desoto chocolate|UGG Brookfield Tall|UGG Brookfield Tall black|UGG Brookfield Tall chocolate|UGG Gissella|UGG Gissella black|UGG Gissella chestnut|UGG Gissella espresso|UGG Payton|UGG Payton black|UGG Payton chestnut|UGG Payton red|UGG Bailey Button Triplet|UGG Bailey Button Triplet black|UGG Bailey Button Triplet chestnut|UGG Bailey Button Triplet chocolate|UGG Bailey Button Triplet grey|UGG Bailey Button Triplet sand|There are so much style of cheap uggs for sale ,so once you go to my website you will be very surprise.