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Federal Reserve Balance Sheet Update: Week Of October 7
Total Federal Reserve balance sheet assets for the week of October 7 of $2,119 billion ($1
billion lower compared to the prior week's $2,121 billion). Fed assets consisted of:
- Securities held outright: $1,595 billion
(an increase of $93.5 billion MoM, resulting from $16 billion in new
Treasury purchases, $67 billion increase in MBS and $11 billion in Agency Debt), or $6.5 billion increase sequentially - Net borrowings: $289 billion, which incorporate a new all time high of total borrowed bank reserves. As a reminder borrowings consist of total borrowed reserves less total nonborrowed reserves. This is precisely the focal point of HR1207. By definition, nonborrowed reserves are equal to total reserves minus
borrowed reserves. Borrowed reserves are equal to credit extended
through the Federal Reserve's regular discount window programs as well
as credit extended through the TAF. To maintain a level of total
reserves consistent with the Federal Open Market Committee's target
federal funds rate, increases in borrowed reserves must generally be
met by a commensurate decrease in nonborrowed reserves, which is
accomplished through a reduction in the Federal Reserve's holdings of
securities and other assets. - Float, liquidity swaps, Maiden Lane and other assets: $235.6
billion,
a $7.9 billion decrease based on a $885 million reduction in CPFF and a $6.9 billion reduction in liquidity swaps, bringing these to a 52 week low. To paraphrase Alan Grayson: collapsing dollar - record low liquidity swaps... Coincidence?
Foreign holdings increased by $5.6 billion to 2,860 billion.
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Just watching Bernanke now live.... he is now using Botox to hide his wrinkles and frowns!!!!!
Compare to other clips and see
the Fed must be very worried indeed if they have to disguise facial expressions
easier than the captcha.
what is 21-19=?
answer = 2
Would we be able to tell if the data they give us bout their balance sheet is totally fabricated to help an agenda? Anyone smarter than me wanna chime in on that? Im genuinely curious.
The MBS stuff is pretty easy to track, the rest of it, hard to say.
It would show up in the exchange rate, but the USD is top dog so why fuss about pennies? If Australia tried it they'd be on a much tighter lease. Besides, I'm sure they know exactly how much of a fudge factor is allowable short of an independent audit.
You got people all over the world begging for USD. In Venezuela alone the black market will gladly trade you 6 of theirs for 1 of ours even when the official exchange there is pegged at 2.5. All over the world the news is filled with reports of governments having to print up their money so they can remove the flood of USD that their populace refuses to part with.
Then there's the head fake of with all this fuss over the ASD. They're unemployment rate dropped to like 5% which means like 600,000 Aussies are still out of work in the midst of their "recovery"!
Not to be crude, but sadly, we throw that many out out the door and into the street just about every week these days!
On just the employment level then it must mean we are at least 52 times larger.
Don't buy the hype. I hope anyone reading this has also found the RobotTrader article on how we're forcing the world to eat a fist full of worms and how they have no choice but to politely ask for more.
It's wrong, but we're just this side of the wealth that Sodom and Gomorrah must have had that allowed the decadence that only God could correct, so, until marriage is allowed to be legally consummated by sodomy by the guys you share a foxhole with we can all sleep at night and read all this propaganda as interactive intellectual entertainment of a sort.
it's possible and should not be dismissed out of
hand if there is evidence for it....
accounting forensics and an old fashioned audit
would help answer that question....
your question is the prima facie evidence for
why organizations with money are audited....
I wouldn't believe most of what those lying phucks say, particularly the little tax cheating worm geithner
here's what I mean about that lying phuck geithner, from b'berg tonite...
Oct. 8 (Bloomberg) -- More than a decade after former Treasury Secretary Robert Rubin made the “strong dollar” national policy, currency traders say the same words coming from the Obama administration have little meaning.
Timothy Geithner, the current Treasury secretary, has tolerated the greenback’s 12 percent slide from its peak this year in March as measured by the Federal Reserve’s trade- weighted Real Major Currencies Dollar Index. While he said as recently as Oct. 3 that “it is very important to the United States that we continue to have a strong dollar,” the last time the U.S. intervened in markets to support its currency was 1995.
Tim, when my kids were younger and I literally caught them with their hand in the cookie jar, they did a better job lying than you do. You have zero credibility and I will look forward to reading the history of your absymal performance in my golden years.
that diet coke addicted turd who is the tax cheat weasel's boss is out with this per b'berg tonight:
Obama Adviser Summers Says U.S. Is Committed to a Strong Dollar
By Nicholas Johnston
Oct. 8 (Bloomberg) -- White House economic adviser Lawrence Summers repeated the administration’s commitment to a strong dollar, citing recent comments by U.S. Treasury Secretary Timothy Geithner.
“He made it very clear that our commitment is to a strong dollar based on strong fundamentals,” Summers said today at a forum in New York organized by Bloomberg LP, the parent of Bloomberg News.
Larry, you bombastic piece of fecal matter, try out the old saying about actions speaking louder...... please, please, please do not trot out that holstein Romer to tell us tomorrow that she "supports a strong" dollar.
What the phuck is next? Mary Schapiro is going to come out and say that she believes in enforcing the securities laws against the big players?
I expect to see wild hyenas nursing a 3 legged baby zebra back to health before I believe any of the shit that you folks spew out.
why oh why did George Orwell have to write such an extensive and detailed tutorial for these bastards?
At least he gave us the antidote: "the hope lies with the proles"
how would we know if they just made the bad loans vaporize - after buying them for par value from the banks - and allowing the banks to keep whatever they can salvage (given the bank will still be servicing them) from the loan and accompanying RE...bingo balance sheets better...
Just make the crap they bought from banks sink to the bottom of the ocean, never to be seen again, and claim they are reducing their balance sheet and getting out of the market?
Think of it this way: the bucks stops here. The Federal Reserve was the only place where this shit could be stashed and monetized; it absorbed a shitload of really bad debt and exotic securities, either via outright purchase or as collateral for loans that will never be repaid, only turned over at maturation, forever, in exchange for an equal shitload of freshly minted dollars. You may assume that the value transaction was one of equal exchange, if you catch my drift: shit for shit. The Fed's balance sheet is literally filled with financial pus and detritus, and the only question is when will the monetary gangrene set in.
it's setting in....many of the usual pom pom
suspects in recent days have started acknowledging
in subtle and not so subtle language the onset
of gangrene....it is very slowly starting to sink
in.....this 1 trillion usd on deposit is the
stink which can no longer be politely ignored....
but i say this: that huge run-up from its 700-
800 b usd level of long standing is a prelude to big
banking consolidation....
http://dailyreckoning.com/beware-1000-bank-failures-on-the-horizon/
the story in the independent about the petro-dollar
demise has legs and is not going away......
the death of the dollar is the death of the fed
and treasury.....
bernquacke committed crimes against humanity
and should be tried for treason with what he did
with the fed balance sheet...
the usa performed amputations fix a scraped knee....we are literally witnessing the sacking of rome by the barbarians
the way politicians and banksters have raped
america....and it was not an accident or
coincidence....capital is fleeing america at an
astounding rate....
well said. some would say that the value of the dollar is falling because theres more of them out them, but a lot of it has to do with the fact that there is all this shitty shit backing it. The dilemma is that the govt has backed a lot of those assets and the fed can always loan the govt more money to cover those losses, which makes the future inflation even more apparent. Its the perfect storm for currency destruction.
Bernanke on live TV now, look at his face.... he has no wrinkles.... Botox disguises his facial expressions now so he and the Fed seem in control They must be pretty worried to do that!!!!
They have been actively unwinding the currency swaps for awhile now which coincides with the decline in the dollar. Don't know the exact correlation, but it is there.
I always enjoy the comments on ZH, but have noticed the commenters seem to really believe that the FED is intentionally destroying our economy. Can anyone back that up by describing their motivation for doing such a thing? I don't like what they are doing any more than the next guy, but I believe they are trying to pick up the pieces from what the previous administration allowed Wall Street to perpetrate. Was the alternative of letting everything collapse in on itself really a better alternative? Perhaps some of the more outspoken need to take a breather and reflect. Oh, and the asian banks are buying dollars and USDX is back above 76.
Wrong. Many believe the Fed is intentionally destroying the value of the dollar, in order to prop up the economy (or perception of, to be precise). It also allows them to trade with the banksters in order for the banks to dump their crap off of their books. Why would you think this has anything to do with your political hatred of a certain man? This is the Fed. It has not changed based on whom is President.
Oh, a few smaller Asian countries have spent a couple units of their currency to cap their local strength? The countries were Thailand, Malaysia, South Korea, and Taiwan, plus Hong Kong and Singapore to a lesser extent. It was not China nor Japan. There were no major currency pairs involved.
Whew, the DXY rose above 76 overnight. We are saved, God bless the Fed...
Agreed, the Fed is trying intentionally to debase the currency, Bernanke has said he is going to do it in previous speeches.
What many posters, including myself, object to, is this debasement, and the collateral damage it causes. I personally don't think Bernanke knows what he is doing. This is the guy who said "subprime was contained" after all. Watch any interview from him circa 2007 - he had no idea what was coming.
Also agreed this has nothing to do with the political party in power. End The Fed and who we elect will matter a lot less, because they will have to manage a country without the availability of free money, and we will all be better off.
trying to pick up the pieces from what the previous administration allowed Wall Street to perpetrate ?
Which Administration? Oh ....you must mean Nixon years .
If Asia is buying dollars, then that's nothing to sneeze at. thailand is probably worth more than we are(kind of a joke-but maybe not)
China, if it need to cheapen it's currency and buy dollars, has "quite" a bit of buying power to prop the dollar against internal devaluation.
Making the dollar "not scarce" is not for the sake of exports. We don't make a thing to export. It's there to keep the deflationary delevering events at bay. it does not good to the FED banks to own worthless paper because they would cease to exist and nobody would trade with them. The helicopter money is there to prevent runs on banks,deleveraging and flight to dollars and prevent dollar hoarding.
Of course, they invented this disaster in the first place.
regarding the above mention of George Orwell's distopia, have you guys seen this cartoon?
http://www.recombinantrecords.net/docs/2009-05-Amusing-Ourselves-to-Death.html
I would lean toward Huxley-ian as the theme of the last couple decades, but things are also starting to feel Orwellian these days.
This is my first big recession as a cognizant human being. I was born in 1984.