This page has been archived and commenting is disabled.
POMO #2 Closes: Stocks Jump As Fed Is Nickels Away From Breaking $1 Trillion In Treasury Holdings
Today's second POMO just closed and the Fed has now purchased a total of just over $14 billion in bonds maturing between 2014-2016 and 2018-2020. Brian Sack has bought another $6.8 billion in bonds, at a Submitted to Accepted ratio of 2.4x, higher than the 2.2x earlier in the day as we expected. The flow proceeds appear to have had the express designation of being used to purchase ES as the second the second [sic] POMO closed, equities ramped up. To those who care, are positioned appropriately in this Madoff-style ponzi, and hope that just like in the Madoff case will not one day be forced to clawback proceeds (under calm and collected conditions or otherwise), our sincerest congratulations. To everyone else, we would like to note that today's 2Pm ramp in stocks comes at the cost of the Fed now being the proud owner of $991 billion in US debt. Tomorrow's two POMOs will likely seal the deal, making the Fed the only institutional holder/hedge fund in the world to own 13 digits worth of US paper.
Breakdown ot today's POMO #2:
»
- 5083 reads
- Printer-friendly version
- Send to friend
- advertisements -
Tyler, you know what they say, 13's a lucky ## ... LOL
what month/year will we see the 14th digit?
"Making the Fed the only entity to own 13 digits of US paper;" well, how nice. Maybe we should have a party. We could have a little cake with thirteen candles on it; it would be nice.
Sackman is starting to blush now when the 1 TRILLION funny money mark is getting so close. His mama must be so proud! I thought the bankstaz would have left 1250 in S&P for the last trading day of the yr to match their collectively set year-end "forecast" but maybe they want to show Sackie some respect and gun it today.
IMO, all these spikes and melt-downs on pretty much every stock chart are starting to look pretty absurd.
Back to 1244 on /ES now
Watch the correlation trade: POMO / Apple. Yu don´t need to understand more.
The AAPL doesn't fall far from the money tree?
If it goes a little bit higher it will escape the law of gravity.
crAAPL is bigger than all my problems
Bigger than all my fears
My crAAPL is bigger than any mountain
That I can or cannot see...
[/hairy wanker]
And as if by magic, precisely at 2 PM the market takes off. Maybe it was goosed in the ass by a pitch fork.
Same at 11:00...
the important thing is we tacked another 1% onto oil and the cost of money continues to go up so i would say things are proceeding nicely for the 17% of the us populace thats out of work - because as any business owner will tell you, paying more for the things you need to run your business is a surefire way to guarantee hiring
If you think the 17% (probably closer to 20%) out of work have it rough, you should talk to some of those 20k to 35k per year folks.
But The Ben Bernank stated openly that he needs to ramp up inflation, because, as we all know, it's just too low:
Bernanke says inflation rate still too lowCan anyone explain what the contents the Feds Special drawing rights certificate account are?
It's kept on an etch a sketch and geihtner keeps shaking it.
I only found what it contains as far as 2005. Does anyone know if that basket has changed?
This is the fucking IMF. Nothing has changed and nothing has ever changed. Gold is money and nothing else. They run a good money for bad scam take the gold by force through "legitimate" channels. Even though they gave eisenhower a check for 2 million bucks he still "authorized" them collecting the gold. Then they run a bad money for good scam.
Unfortunately they made thier gang too big and it's taking too much resources. And they are fucked. They are going to eventually start using war and force like crazy and everybody is going to get some experience at killing.
Yes. yes it did change, actually. the basket now has a hole in it; but I think you're not supposed to notice.
guess there is no turning back now.. Gold @ $1400 certifies Bernank as a Lunatic. It's completely priced in.
Markets 'take off' on POMO? Hardly even made it to green, who knows what the close will be like but if all they can get for their $16 billion today is 7 points on the DOW we are in some serious trouble here.
And dont forget that oils also up 1% and PM's up nicely.
It's more targeted than that. Financials and REITs are disproportionately higher, of course. Get the green close broadly and ram-rod the 'chosen ones'.
Robert Mugabe sends his regards...
http://midasfinancialmarkets.blogspot.com/
The real crime here is that these criminals are going to get away with it. Their criminal manipulative activities are blatant and wide open, they also have all the politicians and regulatory bodies in their pockets.
This isn't about money, as they can just print that worthless monopoly money at will. This is about control and murder of the populous. And these criminals are going to get their fascist world government.
Their plans are so blatant and obvious, and yet 99% of society don't see it. Oh well, screw 'em, they will get what they deserve and suffer unimaginable pain for their submissive, complacent, self-indugent lives. How can i book my place in that underground city under Denver airport? Is there an online booking form?
Get away with this...hell, the biggest of the biggest douchebags will actually be lionized for it. You've already heard them referred to as HEROs that 'saved the world'.
Shit, I'd be happy if they just got the money. They'll actually get praised also.
How many more times do you think the public will fall for Buffett's fumbling-humble-folksy-salt-of-the-earth-I-eat-at-a-diner bullshit?
They dont see it, they dont want to see it. I wont have any pity for the avg sheeple.
My goodness, we think highly of ourselves, don't we? Mommy must have held you pretty close for many years for you to have such an inflated opinon of yourself.
Exactly who will care about your pity? Other than your own, exactly whose universe centers around you?
SheepleDog, you are a great example of the weak minded follower. How do you imagine anyone cares what you think?
"How do you imagine anyone cares what you think?"
look in the mirror, bozo.
LOL, No Mas the ultimate FED fanboy calls me a sheeple....what a dick.
Its not that they do not see it. Its that it takes away all the time to put food on the table and keep a shelter on their heads, they do not have the luxury of protesting. Lets say they protest the full force of the governemtn is going to rain on their heads and bankrupt them, with no savings to fall back on it seems the average American has lost his appetite for action. As long as the food is on the table there will be no placards in front of congress. I guess they know that and keep extending the UI benefits for a loong time. No way out, we have passed the event horizon as far as policy change is concerned here.
Its not that they do not see it. Its that it takes away all the time to put food on the table and keep a shelter on their heads, they do not have the luxury of protesting. Lets say they protest the full force of the governemtn is going to rain on their heads and bankrupt them, with no savings to fall back on it seems the average American has lost his appetite for action. As long as the food is on the table there will be no placards in front of congress. I guess they know that and keep extending the UI benefits for a loong time. No way out, we have passed the event horizon as far as policy change is concerned here.
Damn yo, Bill Hicks fan and a Vigilant Citizen reader...i like ZH more and more every day.
note to US Banks: no-one will step in to hold your bag because a) you have no stick in this market and b) you are far too greedy to do business with
Their only option is to mark their own bag ever higher, theyll never pass off the pump to retail as they planned and same goes for anyone 'buyin da dip'. Go ahead and buy, but theres no one to sell to except the FED and whenever they turn off the spigot, you are fuked.
...and it is the bond market that will turn the spigot off for them, forcing their hand...
right on sheepdog ! did you see the maddoff 'philanthropist' who forfeited 7 Billion?
His initial investment was 70,000! Charles Ponzi is proud of the USA.
Does it really matter if we have a POMO day or not? Whether the dollar is up or not? Whether rates are up or not?
Emphatically...NO. The tape is painted clearly. All destinations are pre-determined. How could you stare at charts 8-10 hours a day and not see how they manipulate traders that rely upon EW counts, indicators, trend lines, etc.
The story hasn't changed. The fed and their stakeholders, the primary dealers, will continue this game of "transfer the wealth" until the banks are fully recapitalized and on strong footing again. Then, they will come forward talking about change and other righteous crap. The fleecing continues. We have a private organization, the fed, dispensing trillions ad nauseum for personal gain. Who gives a fuck whether they hold 1 trillion or 10 trillion. They will hold title to every goddamn thing in this country...including your 55k Hummer. Its beyond the point of absurdity. People just don't give a shit unless their own skin is on the hook. Soon it will be...and then they'll wonder who's coming to save their ass.
http://impactglassman.blogspot.com/2010/12/feds-stupendous-crimes-agains...
Mongo,
"Robert Mugabe sends his regards..."
Excellent!
DavidC
My old man used to tell me one man can make a difference. I want to expose what these bastards are doing to the world, but alas now that I'm 41 years old, I now realize that what my father told me is a bunch of bullshit. Even if people could understand they wouldn't care...makes for a depressing reality... guess I'll just have another drink
I believe you are really on to the fact of it all. No matter how hard ZH tries to "expose" graft, crime and corruption, in the end it is for naught. Why?
Because in the grand scheme of things, at the macro scale, nobody and I mean nobody gives a good goddamn.
Nobody.
Yup, the people who know don't matter, and the people who don't know don't care. This sucks.
It's only a crime when a 'non bank' entity engages in the practice..
check kiting..the Fed is using one check to pay another.
Scheme discoveredAccording to court documents filed in Hamilton County Court of Common Pleas, Fifth Third Bank alleges a complicated bank fraud and check-kiting scheme.
According to the court documents, Eastern Livestock has engaged in a “sophisticated check-kiting scheme involving the deposit and withdrawal of thousands of checks into and out of its Fifth Third account and accounts at various other banks, even though there were insufficient funds to cover the checks that Eastern Livestock was purporting to deposit and withdraw.”
Taking advantage of the “float,” the delay in one bank’s returning an item for insufficient funds to another, creating a provisionally credited balance in the account to which the “deposit” was made, “Eastern Livestock cycled checks between its various bank accounts to create an artificially high balance among those accounts and then withdrew million of dollars in provisionally credited funds.”
Today's Kunstler:
"If only Frank Capra had lived to see the Federal Reserve's Maiden Lane portfolio, a sack of shit so monumental it would make the fabled swag-bag of Kris Kringle himself look like the descending colon of a pygmy marmoset."
Is there anything sweeter than a Double POMO day [sorry, that is so bad I cannot even think of a worse analogy for it] that is just barely hanging on positive...in a thin tape with very few index sellers...with Blight on America bank, JP Morgan, and freakin' AIG holding the DOW together?
It is moments like this during which I consider any time spent outside of my closet and NOT under a big pile of coats VERY DANGEROUS and CONFUSING...because I am certain that I would never own even a one penny long dated call on any of these disgusting entities [much less keep money on deposit or count on any of them to make good on any claim]. And yet these freakin' zombies walk...
There they are...standing in as the BULL LYNCH PINS!
Sweet! As a trader....I wonder what it could mean?
[my apologies for the obvious leading question]
The trading day is becoming shorter and shorter.. now only the last 20 mins are relevent.
Truly a sick market and exchange. in Vegas it only takes a few seconds to put a coin in the slot machine or pull the arm.
Matt Taibbi said that QE is a rigged game. That insiders would find out ahead of time what the Fed is going to buy. So they would load up on a bunch of X a week before the Fed would buy it all. Thus they pocket the quick spread at the taxpayers expense. Is there any way to confirm that's what's happening?
Yeah, thats called frontrunning. Just search for articles here on ZH, there are plenty.
Time for ZH page to include perpetual POMO + SS activity + Net tax receipts and other goodies.
Most of us recognize the permanent nature of monetization of debt until a currency crisis. So what better time to just include a permamnent ZH POMO + other things monetary, real time ticker on the main page. Perhaps include the debt ceiling delta and 10Y rate. 10 lines should be all that is needed if a short hand method is used. Maybe below the ZH Reads banner?
Mark Beck
Federal Reserve is the primary tool of the new financial oligarchy – The ultimate banking clearing house with zero oversight from the people still holds over $2 trillion on its balance sheet.
http://www.mybudget360.com/federal-reserve-primary-tool-of-new-financial-oligarchy-banking-balance-sheet/