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SOMA always reminds me of Brave New World
It was probably chosen on purpose to reflect that book.
Their terms always reflect their book. STIMULUS....QE LIGHT....SOMA....TARP....
Look not behind the curtain people! Move along.
Soma (Sanskrit ??? sóma), or Haoma (Avestan), from Proto-Indo-Iranian *sauma-, was a ritual drink of importance among the early Indo-Iranians, and the later Vedic and greater Persian cultures. It is frequently mentioned in the Rigveda, whose Soma Mandala contains many hymns praising its energizing qualities. In the Avesta, Haoma has an entire Yašt dedicated to it.
It is described as prepared by extracting juice from the stalks of a certain plant. In both Vedic and Zoroastrian tradition, the drink is identified with the plant, and also personified as a divinity, the three forming a religious or mythological unity.
Thank you, but I am already holding my ankles. Any further comments censored.
Did you lube up?
BTW it's clear from this announcement that they've been thinking about (and planning) this operation for days if not weeks. That's a great deal of specifics for something just decided on today, wouldn't you say?
I've been holding mine since TARP and I gotta tellya, I'm runnin' low on vaseline
And people wonder why certain billionaires pledge dollars going forward......
Nice coincidence after Buffett stumbled upon Adam Fergusson's book.....
...or was it Ralph Nader's?
Give it a few more years, and the rest of us pions can pledge our billions as well....
Excellent selling opportunity for foreigners!
Can any calculation how much the coupon from $1T in MBS comes to?
I beleive that $1.25T good sir.
Depends on how many people are still paying their mortgage. The yields could be distorted beyond belief would be my guess....
Agreed. I seem to recall something about troubles arising in 2008 from some derivatives not following predicted payment schedules. The difference now is that the US taxpayer is the holder of the shitty tranches. Nothing new under the sun?
The FED is like a dog eating its own puke. Pathetic.
The FED is like a dog eating it's own shit.
There ya go fixed that typo for ya.
That's the accurate analogy I've heard in a long time.
Didnt that guy named Ben Bernanke swear up and down he'd never monetize the debt? Time to drag his ass behind an old pickup truck.
That would have been ... a lie.
OMB: How my GOP destroyed the US Economy
Both parties are at fault.. worthless article.
I just posted the article. Why the animosity... I have always said in these forums that both parties have destroyed this country.
If you want to cheer for a particular team try here, they have more choices and better trinkets: http://www.nfl.com/
"Purchases will be conducted with the Federal Reserve’s primary dealers through a series of competitive auctions via the Desk’s FedTrade system" Competing? like in who can buy with the lowest yield? What does the winner get?
a shitload of paper ripe for downgrade.
aint that the truth. We live in an age of digital money where physical currency cant exist. Even digital money in a savings account is being used to purchase something since the banks dont keep a vault full of paper money. We have come full circle where paper currency may be better kept in a mattress. The rate of return is the same but the security is better.
I can't even get excited anymore. Everything is bad news and flowery propaganda.
Can't they just blow something the fuck up?
The bond market, the dollar.... patience it took 100 years to get here, what's another 18 months.
I just cant believe all year they buy debt and some how by admitting it today its a positive right at the the time its becoming obvious that no one in their right mind will own 10 yr paper yielding 2.7%
Roy: How about a gross of fluorescent condoms for the the novelty machine in the men's room? I mean, those are fun even when you're alone. We're talkin' the hula hoop of the nineties. Lancaster Bowl Manager: Look, I've told you. We don't need nuthin'. We don't even have a novelty machine in the men's room anymore. Roy: And you call yourselves a bowling alley?
10's at 2.5 by year end. Over or under?
undah, with a bullet
right about the time the wall street boys will start to window dress for end of quarter.
T-minus 13 mins to liftoff.
From Feb, 2010 "We will not monetize the debt."
Silly silly equity buyers take it up. Complete disconnect between actual company goods and services for sale for profit with expenses less than revenues as objective.
Fed, policies and market intentions no longer paying attention to actual economic activities. A contrived world where they think houses will sell because rates are low, never mind the asset price. So very mixed up and it isn't working. When will they just throw in the towel?
Also on August 17: Fannie and Freddie press conference
what a coincidence
SOMA is adequately named. Tentative schedule
of purchase operations,wtf, FRBNY does not have the
resources to monitor theTBTF, according to Mrs Dahlgren
Is Fed Supervision of Big Banks Really Changing?
Maybe the FRBNY is run on (h) opium
So, if you are an american and don't believe in QE 1.01, then the sensible thing to do is stop paying your mortgage, no?
What principle re-payments?
This sounds like more cheque kiting to me.
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