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The Fed Is Gifting Primary Dealers With A Monthly Commission Fee Of Over $5 Billion

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Wed, 01/12/2011 - 16:32 | 871070 NOTW777
NOTW777's picture

exhibit A for the rise in financials today

Wed, 01/12/2011 - 16:35 | 871074 NOTW777
NOTW777's picture

monster new pomo announced and TBTF scream; cnbc then pretends its fundmentals - the recovery in lending

Wed, 01/12/2011 - 17:40 | 871237 TrafficNotHere
TrafficNotHere's picture

Could someone please explain to me what a "slippage" and or a "slippage rate" is.

Thank You

Wed, 01/12/2011 - 17:59 | 871308 Dicite justitiam
Dicite justitiam's picture


Thu, 01/13/2011 - 05:24 | 872449 oh_bama
oh_bama's picture

big orders make the market "wider" so if a stupid moron pay offer and sellign bid, he would end up paying a lot more than in a tighter market.

Just as too big a dick would make the ***** wider.. hehe


Wed, 01/12/2011 - 17:32 | 871214 hambone
hambone's picture

When putting this (and the general institutionalized thieving and robbing) together w/ the actions of Jared Loughner I am left in a quandry.

By no means am I unsympathetic to all the victims of the shooting and don't condone the shooting. 

But when no legal means exist any longer to stop the looting, I do expect to see and hear further actions like the AZ shooter.  The actions of the true elites of the world will likely drive more to leap off the edge of sanity and into our headlines. 

Let's just hope innocent victims aren't caught in the crossfire.

Wed, 01/12/2011 - 18:02 | 871324 sgt_doom
sgt_doom's picture

Not including that psycho (and Glen Beck lookalike) in Arizona, meaning not part of this peculiar pattern, but there is been a significant uptick in the number of federal government-related people (as in former fed-turned-consultants, lobbyists, top-level fed employees, etc.) who have been the victim of strange deaths during the previous two months.

Very curious.....

Also, this blog post is exactly why those varmints created ELX Futures:





Wed, 01/12/2011 - 16:34 | 871071 buzzsaw99
buzzsaw99's picture

...this means that the Fed hands out well over $5 billion each and every month to the Primary Dealers.

No shit Sherlock! Nobody cares. They could steal a trillion a day and no-one could stop them. Can't buy directly from the treasury, hell no, that would be monetization. Better to buy the PD treasury traitors some more yachts.

Wed, 01/12/2011 - 16:38 | 871082 Ragnarok
Ragnarok's picture

They could steal a trillion a day and no-one could stop them.


This statement made me take pause.  I think you are right.  could/would

Wed, 01/12/2011 - 16:49 | 871117 Revolution_star...
Revolution_starts_now's picture

Hey, I think you stole the same avatar I stole.

Compared to a trillion, I guess avatars are peanuts. I think we both need a "williambanzai7" on it to give due credit.

Wed, 01/12/2011 - 17:16 | 871180 Fish Gone Bad
Fish Gone Bad's picture

I am thinking you will have to Rochambeau for it.

Wed, 01/12/2011 - 17:21 | 871188 Ragnarok
Ragnarok's picture

I've had this avatar longer than you've had an account.


Got the avatar off a mikla post.

Wed, 01/12/2011 - 17:47 | 871260 AccreditedEYE
AccreditedEYE's picture


Wed, 01/12/2011 - 16:43 | 871098 Internet Tough Guy
Internet Tough Guy's picture

What is the escape plan for the banksters? Will they try to hide out in South America like the nazis of old? They must understand that if they steal everything the collapse will take them down too, even if they are sitting on a mountain of (worthless) money.

Wed, 01/12/2011 - 16:54 | 871127 buzzsaw99
buzzsaw99's picture

This $5B a month fails to take into account the trillions in 0% short term borrowing they use to buy longer dated maturites. They keep the coupon for every gubbermint bond they own whether they bought it with free fed money or money they stole somewhere else, or with money they conjured using accounting fraud. They are stealing a shitload from the taxpayer and nothing bad will ever happen to them imo.

Wed, 01/12/2011 - 17:30 | 871209 MachoMan
MachoMan's picture

So the property record is going to burn too?  History accurately accounted for in the new media? 

Part of the beauty of the scam is that entities mean nothing to the principal actors...  they're merely vehicles of pillage and plunder, including the FED itself.  They will be jettisoned while the knowledgeable convert dollars from the ether into real assets...  presumably, they will emerge from our collapse with an even greater stranglehold on the world's (yes world's) real assets (we tend to focus on ourselves...  NASCAR!).

About the only way the scam doesn't work is if wealth is confiscated...  and, that probably means with a machete instead of a scalpel...  meaning, lots of collateral damage, if it's even possible to accomplish.  The Mossad hunted nazis...  but, the only thing our SEC can hunt is tranny porn.  We're fucked.

Wed, 01/12/2011 - 18:27 | 871388 hambone
hambone's picture

No way to know for sure but I don't think the banksters are going anywhere.  Why leave? 

They will have all the money, all the assets, all the gold, silver, farmland, energy, all 3 branches of government, and their own special paramilitary to ensure their safety.

Why do we assume they will fail???  It is "us" the people that are failing and will be left behind and set adrift.  Look at the lack of a reaction to all this...I think the poster above saying they could take a trillion $ a day and nobody would care is right.

Americans = Apathy.

Wed, 01/12/2011 - 16:59 | 871142 bmfe
bmfe's picture

“its ok, because the Fed made a profit last year….bla bla bla ”  Is the argument I hate most. 

Wed, 01/12/2011 - 16:33 | 871072 monopoly
monopoly's picture

And I am supposed to be surprised by the continuing theft of this country.

Wed, 01/12/2011 - 17:12 | 871149 The Limerick King
The Limerick King's picture

Bernanke has struck quite a deal

Allowing the PDs to steal

To increase inflation

They sold out the nation

The Kleptocrat meme is now real.

Wed, 01/12/2011 - 17:21 | 871178 hbjork1
hbjork1's picture


Wait, not enough,


Wed, 01/12/2011 - 19:06 | 871511 Clampit
Clampit's picture

Ain't inflation a bitch?

Wed, 01/12/2011 - 16:35 | 871075 cossack55
cossack55's picture

By "criminal", I assume you are referring to the olden days when there were laws. How quaint.

Wed, 01/12/2011 - 16:43 | 871100 DaveyJones
DaveyJones's picture

there are still laws for 98% of the population, in fact even more.

Wed, 01/12/2011 - 16:35 | 871077 AZSovreign
AZSovreign's picture

I'd like to gift them a firing squad..

Wed, 01/12/2011 - 16:37 | 871078 plocequ1
plocequ1's picture

Wow. Thats alot of money.

Wed, 01/12/2011 - 16:37 | 871079 InconvenientCou...
InconvenientCounterParty's picture

This is an example of why ZH is the best. If ZH is wrong, I don't want to be right.

Wed, 01/12/2011 - 16:38 | 871081 TruthInSunshine
TruthInSunshine's picture

60 billion a year in absolutely free, gifted money, buys a lot of hookers & blow for the 'financial community!'

Thank you TAXPAYERS!

Wed, 01/12/2011 - 16:49 | 871094 hedgeless_horseman
hedgeless_horseman's picture

Roughly 37,500,000,000 one nighters with a hooker and some blow, per year. 

Or, a hooker and some blow for 102,739,726 friends, every night of the year, for an entire year.

Good times...good times.

Wed, 01/12/2011 - 16:55 | 871132 Ragnarok
Ragnarok's picture

Wow! Imagine how much that would actually stimulate the economy!

Wed, 01/12/2011 - 16:59 | 871144 hedgeless_horseman
hedgeless_horseman's picture

Disclosure Statement: Long RICK

Wed, 01/12/2011 - 17:10 | 871166 TruthInSunshine
TruthInSunshine's picture

"Cocaine is a helluva drug."

-- Rick James

Wed, 01/12/2011 - 17:15 | 871176 hedgeless_horseman
hedgeless_horseman's picture

"Loan me $50...I think she really likes me."

-- Many a patron of Rick's Cabaret

Wed, 01/12/2011 - 17:34 | 871221 TruthInSunshine
TruthInSunshine's picture


Strippers and their teasing ways.

Wed, 01/12/2011 - 17:49 | 871269 Dr. Porkchop
Dr. Porkchop's picture

37,500,000,000 ?


Shit, not even Wilt Chamberlain could touch that.

Wed, 01/12/2011 - 17:57 | 871299 Catullus
Catullus's picture

The true Enron model.

I'd love to know spreads before and during POMOs "auctions". It's such a magnificiently simple fraud it's astonishing.

Wed, 01/12/2011 - 16:39 | 871085 ReeferMac
ReeferMac's picture

Nothing to see here... Move along.

Wed, 01/12/2011 - 16:45 | 871086 Mercury
Mercury's picture

Surely there is one Congressman or woman who is not so bloody stupid, and actually understand that this is nothing short of legal and mandated theft from taxpayers,...

Nah...there is no (federal) taxpayer constituency.  It's more likely that Al Sharpton and other shakedown artists will demand a space at the troth for their particular constituency.


Wed, 01/12/2011 - 17:43 | 871247 hbjork1
hbjork1's picture

Difficulty is that not must the Congress understand but there are procedures that have to be followed and therre must be a consensus on what to do.  Those evil big bankers are constituants to some Congressmen.   For the last round of reform voting by the Finance Committee, I felt that "the fix was in".   Frank and Dodd "took care" of their banking constituency and showed great skill in doing it. 

A few courageous reformers(independants) aren't always enough and then the demented retards in our society want to shoots them because they are action figures in their fantasies.

All we can do is to keep writing our congresspeople.

Wed, 01/12/2011 - 18:01 | 871316 lesterbegood
lesterbegood's picture

There is another way.

Abandon the corporate federal government as they have abandoned you.

Withdraw your consent.



Wed, 01/12/2011 - 18:49 | 871467 1fortheroad
1fortheroad's picture

Withdraw your consent 

+100 silver coins

Wed, 01/12/2011 - 20:14 | 871658 Clampit
Clampit's picture

Call me cynical, but I don't see there being a legal solution to our dilemma anymore than I see criminal wrongdoing (especially in light of the events of 2008) by Robert Kahre.

At some legislative / inflation / taxation / quality life expectancy threshold I will be the one making a few changes to benefit my children, and I know our enemies almost as well as I know physics. 

Wed, 01/12/2011 - 16:40 | 871088 LawsofPhysics
LawsofPhysics's picture

Good ahead fatten them up.  I don't want to be eating skinny financial advisors when the time comes to serve them up.

Wed, 01/12/2011 - 16:40 | 871089 Quinvarius
Quinvarius's picture

The second they let the press in to do a story on the pomo gang, it was sure to cause a hit to the Fed's credibility.  The idea that the financial future of America is being maintained by 4 unsupervised asswipes, in a back office, one of which is a girl in college, with no access to any financial news feeds, can only cause concern.

Wed, 01/12/2011 - 16:44 | 871104 buzzsaw99
buzzsaw99's picture

Be happy it's not just one cocaine addled ex squid funky with an etrade account.

Wed, 01/12/2011 - 16:41 | 871091 LawsofPhysics
LawsofPhysics's picture

Good ahead fatten them up.  I don't want to be eating skinny financial advisors when the time comes to serve them up.

Wed, 01/12/2011 - 17:51 | 871277 velobabe
velobabe's picture

see banzai7, pig picture of l. blankman, big pig shit, he is.

bacon, bitchez†

Wed, 01/12/2011 - 16:41 | 871092 Commander Cody
Commander Cody's picture

Just another free money conduit.  Nothing to see, move on.  No need for a Fed audit.  The banksters have the world by the balls (er, short hairs as its non-gender specific) and the band played on.

Wed, 01/12/2011 - 16:41 | 871093 DaveyJones
DaveyJones's picture

what's a few billion amongst friends. Besides, we can afford it

Wed, 01/12/2011 - 16:43 | 871101 A Man without Q...
A Man without Qualities's picture

I don't get this - it seems wrong.  A 5% slippage in yield maybe, but not in price in that timeframe?

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