Peter Tchir On Risk Positioning Heading Into The FOMC Conference, And Outcomes Heading Out

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Wed, 04/27/2011 - 11:07 | 1211659 SheepDog-One
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Rusty- 'OK dad...but do you think mom will buy it'?

Ben Shalom Griswold- 'Good talk, son'....

Wed, 04/27/2011 - 11:33 | 1211804 slaughterer
slaughterer's picture

Nice uptick on the VIX this morning.  Good work Ben.

Wed, 04/27/2011 - 11:07 | 1211663 scratch_and_sniff
scratch_and_sniff's picture

"one other person who has so much power coupled with the ability to act virtually unilaterally?"

Wed, 04/27/2011 - 11:57 | 1211891 disabledvet
disabledvet's picture

forgot to add "no oversight."  easy..."oversight" to make.  now "welcome to the Fed's version of accountability."  Don't tell me you're disappointed.

Wed, 04/27/2011 - 11:08 | 1211672 Mercury
Mercury's picture

...more like the world.

Wed, 04/27/2011 - 11:11 | 1211688 mr.glitch
mr.glitch's picture

I just don't see much upside today...traded in and out of SLV puts yesterday and letting some ride today.  I figure gambling with the house's money might pay off here if something unexpected happens.

Does anyone else believe this is a huge setup for another selloff regardless of what he says?

Wed, 04/27/2011 - 11:15 | 1211719 his_name_is
his_name_is's picture

I'm expecting selloff today.   All the press leading into today has been about 3 year highs and dollar lows. 

Wed, 04/27/2011 - 11:59 | 1211900 disabledvet
disabledvet's picture

even steven today, sell-off tomorrow.  "or not."

Wed, 04/27/2011 - 11:21 | 1211744 AN0NYM0US
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how is this any different than one of his appearances in a congressional Q&A, if anything it will be less revealing given the shills who will be asking the questions 

Wed, 04/27/2011 - 11:24 | 1211729 russwinter
russwinter's picture

Weekend at Bennie Bernanke, the Wizard of Oz and Tooth fairy rolled into one.  The odds of the curtain being drawn is up to 50%, not 10%. 

Wed, 04/27/2011 - 11:19 | 1211734 Cleanclog
Cleanclog's picture

I am definitely feeling manipulated.  Headlines this morning on my paper  "Only oil can drown U.S recovery"  followed by an AP story that everything is so dang great according to leading economists.   I beg to differ.

Wed, 04/27/2011 - 11:36 | 1211811 blunderdog
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My favorites are about the surging, rallying USD.

Wed, 04/27/2011 - 11:23 | 1211757 I need more cowbell
I need more cowbell's picture

What utter nonsense; this douche is a market adviser?

- the yearly deficit is ~$1.5T

- there has been zero movement for any budget reduction

- there is no political will for any menangful reduction

- no one will buy our debt except the Fed

Will the debt ceiling not be raised; will sanity prevail; can someone besides Berake shit the money the bankrupt US need to keep kciking the can? This crap today is all kabuki, it's nonsense. The script is already writ large. 

Wed, 04/27/2011 - 11:21 | 1211761 DUNTHAT
DUNTHAT's picture

One Simple Question!!

How will the Fed fund the Govt. Fiscal Deficit, assuming of course, the limit is raised??

That deficit is running at about 120 Billion per month, and whatever is not bought by domestic and international outside sources must be made up by the Fed??

I guess my question is how can they take a QE break? They can take a POMO break, but not a QE break. In other words, the Deficit is continual, every month 120 Billion has to be net created to fund the shortfall.

All occurring in an environment of a devaluing dollar.

Can someone explain??

I mean the only thing I can come up with is direct monetization--or printing-- without the circle jerk of involving TBTF banks.

So its not POMO per se, just direct expansion of the Monetary Base.

Maybe someone has a better description on how this is done. To me, you would be bypassing the TBTF banks and directly injecting the money into the economy through Govt. spending.

Wed, 04/27/2011 - 11:27 | 1211777 Robslob
Robslob's picture

Maybe they just won't fund Mr. Market anymore as they will completely tied up funding the government?

Wed, 04/27/2011 - 11:38 | 1211827 buzzsaw99
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we all know what he is going to say.


sock puppet - check

teleprompter - check

Wed, 04/27/2011 - 11:54 | 1211880 saifstolemythesis
saifstolemythesis's picture

There is another way Ben can claim success of QE2 and proceed with QE3.


He can say QE2 is working but QE3 is needed to sustain the recovery.


Wed, 04/27/2011 - 12:30 | 1212026 Transformer
Transformer's picture

You say, "I remain convinced that the Fed will continue to re-invest proceeds from pre-payments and redemptions."  as a reason that they can stop or back off on QE.  Where does the money come from for the pre-payments and redemptions?  This is a circular argument which does not give the government any more new money to spend.

The Gov has to come up with money to make pre-payments and redemptions.  This money is then used to buy treasuries?  How does this help or give he Gov more money to spend?  The money only will cover the money just spent to redeem the Ts.


Wed, 04/27/2011 - 12:31 | 1212031 anti Oligarchy
anti Oligarchy's picture

The only good thing about someone being this powerful and not elected is his ability to do what is right for America.

He could allow the market to set the rate.

He could force congress to get their financial act together

And not be voted out as punishment

At some point, I hope we have to look at him as a person who helped get us on course to true recovery

Maybe my coolaid is really good - I just hope for the county's sake he chooses wisely.

I don't think owning silver and gold will help me much if we go down

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