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POMO Extended Until 12:05 PM, Monetization Market Conditions, And Primary Dealers Permitting
Confirming that the Fed's Weimar monetization practices are entirely dependent on the market, and that POMO can only proceed if the Plunge Protection Team does its job, the earlier cancelled POMO has been rescheduled for 12:05 pm now that the PPT-Citadel team is on the line and grinding ES like it is the new chick at Hustler Club. In other news, going forward, the terrorist will win if and when the bond market crashes at 10:59 am, which sends the entire Sack-Frost monetization model out of line. Next up: Article 15 to be implement in the US between the POMO hours of 10:15 am and 11:00 am, where any headline on Reuters or Bloomberg has to be precleared by an FRBNY NYU intern. Once again we get confirmation that when it comes to decisions on who really runs the country, the Primary Dealers who cancelled their entire POMO order book, come on top.
More color from Jim Bianco:
Liesman just added color ... at a few minutes before 11AM ET as the Fed was collecting bids for today's POMO (5 year sector today), old recycled secretary Chu headlines that the Japanese have "lost control" of the nuke plants and a parital meltdown occurred. The five-year note dived 12 basis points in seconds exposing the dealers to unrealized losses. Since the purpose of QE2 is to allow the dealers to rip-off the Fed and make their 2011 bonus pools, they canceled it until 12:05 ET in hopes things calm down and it will be much easier to tear the Fed's eyeballs out.
Smoking is now permitted on Primary Dealer trading desks until the Strategic Ink Reserve is replenished
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they caved to PD pressure as the issues were submitted when the 10yr was a point lower. When the Fed agreed and canceled (= S/A of infinity), they had 8 billion+ in stocks already purchased that had to be unloaded.
I agree, I believe the auction was done and they broke trades so PD's could keep their inventory.. One can only hope that treasuries sell off hard between now and 12:05
would be nice to see. Somehow, I don't think we'll see any sessions cancelled should prices DROP a point at 11:00AM
ES fighting a bear flag on the 4 hour chart.....And this is at a significant resistance line of 1260ish...gonna be interesting
1260 reached and breached. next test...1250...then it's a long way down to any real support.
Still holding in there, POMO ends soon -- i dunno, might have a little bounce from here....One hell of a battle!
Emergency dip into the Strategic Ink Reserve. The bills are still wet.
I'm offering my attic as a convenient place to dry those new bills.
So Ben does not want to waste Pomo unless there is zero volatility because it is akin to throwing money directly into a furnace?
lol
LMFAO!!!!!!!!!!
Proof of the Ponzi in real time!
Outstanding!
Step right up, folks, and buy a ticket for the Carnival-Freak Show that is The Bernank's Big Tent!
bow before the pnozi lemmings!!!
It would be nice if we had a Congress that would open their eyes and see that the FED is doing nothing more than gambling with our lives and money, just like the big banks were before the collapse, and the FED has used way more capital this time. Where the hell are our leaders? Are they this freaking blind to allow this PPT crap or POMO crap to continue unabated?
This is one screwed up country.
Leaders? Where do you think you are, Libya?
+1000
you get mad props for that reply !!!!
Here's your Prez... sortof
http://www.nypost.com/p/news/opinion/opedcolumnists/obama_the_invisible_...
at least they're keeping us safe from the dangers of steroid use and illegal music downloads...so...we got that going for us:-(
What? You aren't watching our fearless leaders question various nuclear experts??
"To listen click SAP on your remote"
Ahh, the sound of an "economy" built on fraud grinding between a wall and a hard place. Gotta love the smell of napalm in the morning.
Hedge accordingly.
Printer jammed...had to clear it to get more Franklins printed.
Go ahead and just shake it.
<quote from a staples printer cartridge commercial for those who have burned their TVs>
Shake your moneymaker!
Thanks for the context. I lost my TV when they passed the cable bill.
Shakin' it up here, Boss.
Hmmmm? Market participants seem to be exhibiting irrational behaviors. They seem to be crowding at the back door of the burning Roach Motel [SPY]. Does anyone know why?
I listened all morning to JP Morgan analysts who said this was all a bunch of noise, and that today is a great opportunity. Can anyone help me out?
I suspect a good bulk of the buying is by governments or those posing as their agents (hello, Bernanke), so if one were a non-gov backed holder of paper stock certificates (aka one ply toilet paper) about here, one would either think about selling or praying that the ponzi can live on.
Bernanke's walls are closing in on him. I bet he's started smoking hash by now.
The Vix must be rising to signal the tremendous buying opportunity in retail sales stocks. I'm looking to pick up shares of Tiffany's so that when this whole noisy thing blows over, I can capitalize on all the gold cuff links the Japanese people will be buying when they take the duct tape off their doors.
Glad to see you posting on the boards.
With the barrage of info posted on the boards today (I haven't been able to access ZH until about 10 min ago) I was afraid you may have already succumbed to alcohol poisoning from morning martinis as a coping mechanism from all of the fraud and bullshit we are subject to from the Treaserve and PDs.
Time's a wastin'! Get yourself some o' that Saudi/US oil gold bullion!
First, one of the gold bullion discs produced by the Philadelphia Mint in 1945 to pay for oil from Saudi Arabia. They would not accept dollars, so these gold discs were created for payments.
Auction ends soon!
This is why you should all divest yourself of any and all paper assets, and simply own metal, or productive capital that you physically control.
You can't trade in this market. Might as well go to the Cheapo Casino.
http://www.youtube.com/watch?v=8c1BQkKUsx0
WTF? No stalkers? Don't get dragged in Tmos. It's unbecoming and beneath you.
You on to da truff dere, T-Mo.
They'd better hurry. The US market needs fresh fuel to burn pronto.
Maybe they can team up with Japan, I hear they have some fuel that needs to be burned off.
No buyers = infinate interest rate. Lucky Ben was on the job.
Ring, ring
Hello
Must close green today.
Click
At some point all schemes must come to an end, so will this one, the greatest ever!
IMHO it is very close to It's Own End, We have Japan unfolding,
(feel really sorry for the folks over there, same boat as we are regarding leadership),
What's "missing" is Saudi Arabia, but, in due time it will come "home" too!
When everyone and his mom are talking own books you know its time to GO!
Wait until end of pomo and then short the hell out of the market...
Because they would have lost money on the bonds? You mean they wouldnt have gained as much if they had sold at 11am instead of 12pm???!
Dear congressman Paul, investigate this immediately. Just ask "are you doing POMO to monetize debt or book profits for the PDs?"
Seriously, Bernanke needs to resign.
Sang Brian "Sackman" Sack,
The POMO monkeys clapped their hands as Sackman jumped up on one of the terminals pretending his itemized clipboard was a microphone.
The monkeys emptied their wallets for no one, as they turned the NY Fed into a scene from a Lil Wayne music video.
The ponzi approaches the flashpoint when the ponzimaster himself falls for his own ponzi.
PC Load Letter
+1
Anyone shorting the market, as you should be right now, start shorting the POMO, full attack by shorts on the POMO will render it null and void to the markets, and the sell-off that should be happening, will accelerate. Once the delusional longs that are only in the market for a PPT save see that POMO is not helping their fantasy become reality, will bail quickly and prudently.
Rebooting the Ponzi server
100% FUBAR.
This song should be broadcast 5 minutes before any future POMO commences. It is the official call to action.
http://www.youtube.com/watch?v=V8vINCq_IAI
The thing that gets up my wick more than anything else is the fact that the MSM are blaming the market drop on the comments from the EU, US, and IAEA whereas the truth of the matter is that the markets should have been down on common sense and nobody should be blamed for speaking the truth (even if its probably not the whole truth and a few days late)
I hear people talking about meltdowns. What's all that noise about? I just finished reading a research report by Credit Suisse revealing how much value there is in the stock market because the multiple is all wrong.
People this morning do not seem to understand this very valuable Wall Street research. And I don't think people should fight the Fed.
I also understand that there is new research out about the benefits of putting Prozac in the public water supply. The government thinks it is a good idea, and I tend to agree with governments.
How can you run an economy without something to front run based on inside info?
And they're prosecuting Raj
Revolt! Fuck the fed and the PD's!
Here we come, walkin'
Down the street.
We get the funniest looks from
Ev'ry one we meet.
Hey, hey, we're the FED And people say we monkey around.
But we're too busy printing To put anybody down.
We go wherever we want to,
do what we like to do
We don't have time to get restless,
There's always something new.
Hey, hey, we're the FED And people say we monkey around.
But we're too busy printing To put anybody down.
We're just tryin' to be friendly,
Come and watch us print and play,
We're the bankster gneration,
And we've got something to say.
Any time, Or anywhere,
Just look over your shoulder
Guess who'll be standing there
Hey, hey, we're the FED And people say we monkey around.
But we're too busy printing To put anybody down.
(break)
Hey, hey, we're the FED And people say we monkey around.
But we're too busy printing To put anybody down.
extra verse:
Hey, hey, we're the FED,
You never know where we'll be found.
so you'd better get ready,
We may be comin' to your town.
Japs pulling ,,yen 80
Money does not burn as hot as Fukushima is burning.
Maybe it does when one is beached under the counter reaching for that last dollar bill to get a lap dance.
2nd low of the day on the Russell was at precisely 12:05 PM. How convienant for POMO at that time to commence after the delay. Is this a coincidence?
E-FREAKING-GAD
"Bubbles" Bernanke is back right on time!
Bernanke needs a rope placed stategically around his neck.!