New York Fed Announces It Will Conduct 7 POMO Operations Beginning July 1 As Part Of Continuing QE Lite

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Wed, 06/22/2011 - 13:44 | 1392387 qussl3
qussl3's picture

2 a days to 2 a week.

This is gonna be fun.

Wed, 06/22/2011 - 14:02 | 1392458 Ahmeexnal
Ahmeexnal's picture

Gold and silver are taking off.

By the time shepple decide to get off their asses and drive their BMWs to the coinshops, it will be too late for them.

Expect self-immolations to go viral as their eyes finally start to open.

Wed, 06/22/2011 - 14:25 | 1392559 Dr. Richard Head
Dr. Richard Head's picture

Just wait until the CONgress votes to raise the debt ceiling in a few months.  WEEEEEEEE!!!!!!!!!!!!!!!

Wed, 06/22/2011 - 23:16 | 1393761 HungrySeagull
HungrySeagull's picture

They would not dare.

If they do vote that increase, One side of me is gonna be laughing hysterically and the other side will be really crazy.

They have rubber lined rooms for that problem.

Wed, 06/22/2011 - 14:17 | 1392501 trav7777
trav7777's picture

no way the gov can fund unless they are lying

Wed, 06/22/2011 - 14:42 | 1392619 NotApplicable
NotApplicable's picture

Well, it's obvious they're lying, their lips are moving.

As for the funding, that all depends on the script. I bet they could clandestinely fund if they wanted to, but with election season approaching and an angry electorate, they are going to bring on some pain, and blame it all on the opposition (primarily the Tea Party).

Wed, 06/22/2011 - 13:46 | 1392394 oogs66
oogs66's picture

will they ever tell us what prices they paid?

Wed, 06/22/2011 - 13:51 | 1392410 financeguru500
financeguru500's picture

Considering the people who have the largest share in the privately owned federal reserve, I'd guess pennies on the dollar.

Wed, 06/22/2011 - 14:01 | 1392438 camaro68ss
camaro68ss's picture

is there a cap to this" QE lite"?

Wed, 06/22/2011 - 14:49 | 1392665 NotApplicable
NotApplicable's picture

Yes. Unfortunately, it's roughly the size of the US real estate market as denoted by Fannie/Freddie paper.

Wed, 06/22/2011 - 13:52 | 1392402 financeguru500
financeguru500's picture

So all that talk a few months ago about quitting the purchasing of treasuries was just fluff? Pretty much the equivalent of a meth addict telling the police that they promise not to buy any more meth and then a week later the cops catch them again.

Wed, 06/22/2011 - 13:58 | 1392419 Max Hunter
Max Hunter's picture

So all that talk a few months ago about quitting the purchasing of treasuries was just fluff?

It actually use to be called lying.. but who's counting..

Wed, 06/22/2011 - 20:34 | 1393566 jerry_theking_lawler
jerry_theking_lawler's picture

your analogy is slightly off....they don't buy the meth...they get the crazy little cousin to buy it for them....

Wed, 06/22/2011 - 13:52 | 1392407 firstdivision
firstdivision's picture

Just like QE1 -> QE1.5 -> QE2 -> QE2.5 -> QE3 -> ∑ QEnxn

Wed, 06/22/2011 - 13:57 | 1392414 bankonzhongguo
bankonzhongguo's picture

Cocaine's a hell of a drug.




Wed, 06/22/2011 - 14:00 | 1392433 camaro68ss
camaro68ss's picture

Cocanine is for bitchez, its all about shotting meth, its all the craze

Wed, 06/22/2011 - 14:10 | 1392493 tmosley
Wed, 06/22/2011 - 14:39 | 1392606 j0nx
j0nx's picture

WTF is shotting meth? Do you mean shooting meth or is shotting some new kind of way to drink meth?

Wed, 06/22/2011 - 14:49 | 1392667 blunderdog
blunderdog's picture

Give him a break, man, he was tweekin' when he typed that.

Wed, 06/22/2011 - 13:59 | 1392424 Shock and Aweful
Shock and Aweful's picture

And so it continues....until it can't any longer...


Then what?

Wed, 06/22/2011 - 13:59 | 1392430 YesWeKahn
YesWeKahn's picture

This must be the QE3 everyone was talking about.

Wed, 06/22/2011 - 14:25 | 1392534 Dr. Richard Head
Dr. Richard Head's picture

Everyone?  I was traveling down south a few months back and had to stay the night at a Lexington Kentucky Embassy Suites.  It just so happens that Bank of America was having a party for their bankers (commercial and home) to show their employees their appreciation.  Being a smoker, I stepped outside to have a smoke and happened upon a group of those bankers outside as well. We all started chatting over the normal polite conversation that ensues when people first meet.  When I found out that they were bankers and had an opportunity to ask a question of them I asked, “So do you think the Fed will roll QE3 out at the end of June?”  The look on their faces was as if I asked them a question about quantum physics. 

One of the bankers finally said, “QE?  Are you talking about that road in Toronto?” 

I fieldstripped my cig, threw it into the trash, and just walked away laughing my ass off.  We is fucked ladies and gentleman. 

Wed, 06/22/2011 - 14:41 | 1392626 Silver Dreamer
Silver Dreamer's picture

Most bank employees are mindless sheep too.  Who thinks anymore anyway?  It's so outdated...

Wed, 06/22/2011 - 15:05 | 1392701 Dr. Richard Head
Dr. Richard Head's picture

Indeed.  Sometimes the idea of a nonthinking exsience seems like such bliss.  It sucks seeing through the lies in every media outlet and the ignorance of the people that follow those lies.


Bunch of fractional reserve pussy automatrons.  Sighhh

Wed, 06/22/2011 - 15:45 | 1392886 GtownSLV
GtownSLV's picture

The Russians and Chinese are. Soon they'll be selling US paper by the ton!

Wed, 06/22/2011 - 14:40 | 1392629 macholatte
macholatte's picture


 The people at the local branch office are no better than the guy on the assembly line. It's still factory work. But I bet a UAW guy can tell you a lot more about the mechanics of cars and trucks than a branch manager can tell you about money. These are not the droids we're looking for.


Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.
Martin Luther King, Jr.



Wed, 06/22/2011 - 14:59 | 1392719 Dr. Richard Head
Dr. Richard Head's picture

I would expect it from the tellers of course.  However, I went to transfer my money from a large bank (had the acocunt prior to my understanding of monetary and fiscal policy) and I wanted to talk to the Branch Manager about their Profit and Loss statement.  I had some questions about exposure to a variety of different risk assets that stood on their sheet.  The same look of utter confusion was upon her face. 

I still went with that bank since they have a strong Texas Ratio and they were a smaller regional bank, but it pisses me off that someone working in the financial industry has no fucking clue what the hell they are doing other than selling "savings" accounts. 

Wed, 06/22/2011 - 15:23 | 1392811 cgbspender
cgbspender's picture

One of my roommates once asked the branch manager of a local Sun Trust if the bank was solvent. She displayed a confused look and replied "What does solvent mean?"


True fucking story.

Wed, 06/22/2011 - 15:51 | 1392893 Raymond Reason
Raymond Reason's picture

Had a conversation with the manager of my local bank a while ago.  He said he'd heard the term "fractional reserve banking", but wasn't sure exactly what it refered to . 

Wed, 06/22/2011 - 14:39 | 1392608 j0nx
j0nx's picture

This is not the QE3 you're looking for. Move along.

Wed, 06/22/2011 - 14:00 | 1392434 dcb
dcb's picture

Qe to infinity and beyond!!!!

Wed, 06/22/2011 - 13:59 | 1392442 virgilcaine
virgilcaine's picture

'twist' operation starting, just as a trillion in eu debt is about to go bust. See you at Dawg 8k.

Wed, 06/22/2011 - 13:58 | 1392445 statlawyer
statlawyer's picture

Here comes the levitation lolz

Wed, 06/22/2011 - 14:00 | 1392452 yogibear
yogibear's picture

True to Bernanke's college thesis he will print. Too bad if he's wrong. Those in the Whitehouse and in the media will blame somebody else.

Wed, 06/22/2011 - 14:12 | 1392479 Ahmeexnal
Ahmeexnal's picture

Greeks seem to have already been setup by the power-elite -and their lackeys- as the culprit: lazy, dirty, cheating, backward, stealing money from "hardworking northern people" *puke*.  Racism at it's most vulgar display.

The solution the power-elite have planned: Take the land and gold from the greeks, and ship the greek people to Fukushima.

Wed, 06/22/2011 - 14:46 | 1392641 macholatte
macholatte's picture

The community organizers have been paid off. Move on to Italy.

Wed, 06/22/2011 - 14:06 | 1392464 LawsofPhysics
LawsofPhysics's picture

Perpetual QE is an important part of financial repression.  Unfortunately, only a relative few benefit.  "Mark to unicorn" accounting etc. will continue until Atlas shrugs.  Hedge accordingly.

Wed, 06/22/2011 - 14:06 | 1392465 gwar5
gwar5's picture

FRBNY, misdirection from Benny and the inkjets.

Bernanke must really be feeling heat for all the QE.

He'll get over it.

Wed, 06/22/2011 - 14:07 | 1392467 101 years and c...
101 years and counting's picture

$32 billion?  ROFL.  Wasnt the last "QE Lite" portion of the POMO schedule about $12 billion for a month?

Wed, 06/22/2011 - 14:17 | 1392505 Dr. Richard Head
Dr. Richard Head's picture

The required dosage just keeps getting bigger and bigger, just like my pile of gold and silver. 

Wed, 06/22/2011 - 14:08 | 1392471 Josh Randall
Josh Randall's picture

QE Lite = great POMO, less filling

Wed, 06/22/2011 - 14:11 | 1392483 starfish
starfish's picture

As Expected? I remember Jim Rickards bringing this up a few months ago and Tyler having a disagreement with him regarding the whole stock and flow thing.  I suppose it's a moot point. It is the way it is...

Wed, 06/22/2011 - 14:41 | 1392615 HpDeskjet
HpDeskjet's picture

True, actually Bernanke himself already said months ago that they were planning to keep the size of the balance sheet unchanged... Compared the last 8 months this means tightening for about $80 bln per month, very curious how risky assets will hold up!



Wed, 06/22/2011 - 14:16 | 1392496 SRV - ES339
SRV - ES339's picture

So, Rickards was right... QE to infinity!

Just as expected

... didn't you take the other side (outright QE 3) on this Tyler?

Wed, 06/22/2011 - 14:28 | 1392576 Everybodys All ...
Everybodys All American's picture

QE lite ... means anytime I feel the need. QE Infinite.

Wed, 06/22/2011 - 14:23 | 1392548 Everybodys All ...
Everybodys All American's picture

This will end in a spectacular crash ...

Wed, 06/22/2011 - 16:07 | 1392958 GoldVsFRNdotCOM
GoldVsFRNdotCOM's picture

I absolutely hope so, one the likes of which humanity has never dreampt of.

Wed, 06/22/2011 - 14:29 | 1392579 baserunr
baserunr's picture

Don't poor Brian Sack and his teenage assistants even get a vacation?  They too are doing God's work you know.  Just ask Lloyd!

Wed, 06/22/2011 - 14:32 | 1392594 kito
Wed, 06/22/2011 - 14:35 | 1392605 High Plains Drifter
High Plains Drifter's picture

WTF !  Again with the QE lite? 

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