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Check out this weird chart on the USD Index over at www.321gold.com :
Can anyone explain that?
a glitch in the matrix.
fat finger...no wait, its a dissolved hedge fund... no wait...
phantom flash crash in the currency market?
No sales?, no surprise. Who would buy that junk, anyway.
They sound pretty confident that nothing is going to come out of the audit.
I'm sure that they know an audit is possible, so the paper shedders and remote disc erasers have been working overtime to make sure they seem as clean as possible. The tungsten in Fort Knox may be harder to fake, but then again it depends who they bribe to do that audit!
It doesn't really matter anyway, the oil blob will kill us all before rates go anywhere..
Tomorrow it's option experation day! :)
It's going to be a bloodbath!!
The Fed's balance sheet may double from here before we begin to see asset sales, you know, since Europe is likely to export deflation in tsunami fashion to the rest of the world.
When one thinks about it (and I try not to), a majority of the Federal Reserve's balance sheet is in derviatives-- backed by an asset with questionable value-- and secured by the full faith and credit of propped up quasi-governmental housing agencies.
That should make us all feel nice and cozy, now shouldn't it?
And the Fed is finally telling us they're concerned about Greece having an effect on global and US economies. Also mentioned housing as a concern. This report should help take us back to the lows by the close. There was nothing but fear in it from what I read.
If Rand Paul runs for president in 2012 the Federal Reserve will crash the markets, bet on it.
Harry, stop talking your book.
And back to the topic of this post. It makes perfect sense not to sell any of the assets until rate hikes begin. That way the will be worth even less, and the taxpayers can get fleeced even more.
My point is, there was absolutely nothing positive in those minutes, including the sale of assets. Market is acting accordingly.
lol, people don't even read Harry's posts anymore. FYI he seems to have turned negative.
<delete double post>
So Ben and the subsequent Chairmen will vow not to have haircuts until the first FED ass(et) sale? The position now has hair regs. /lol/
Now it is official. The Fed is going to do something sooner or later. And that is a definite maybe.
they're waiting for those assets to drop to 10 cents on the $ from the current 30 cents before selling. These are smart guys.
I don't believe this for one second. Unless, by after the first rate hike, they mean 30 years after the first rate hike.
Wasted ink - asset sales in a deflationary spiral where the few Ms we can monitor are down YOY what a joke?!...ZRIP forever!
Give me a break...why on earth should they start sell before they rise the FED fund trgt? The whole strategy is to "diversify cost transformation". If you are judge and jury...you are!
A snag is Merkel and JCT
100 mill in WFC warrants should help...Oh Wait, they want $6.50
EURUSD buying support is still evident.
Daily chart is now extremely oversold, will post a chart soon.
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