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Well, There it is. Rally on
memo from ben to PDs
monday assignment: buy AAPL and IBM
I love the smell of central planning the morning.
The Fed has exposed itself as a criminal enterprise.
The FRBNY is an ongoing crime scene.
Move our gold from under the FRBNY to West Point. Now.
I suspect it is too late and they have already gone 'Tunisian' and bolted out of the country with the gold.
I'd like to know from where the money the UK supposedly used to buy $350bn of treasuries in 2010 originated. IF this was the result of currency swaps, then the FRB monetization rate could in theory be above 100% already.
It's too bad the UK don't release similar information - would be nice to see if American gilt holdings exploded in 2010.
It's not BOE holdings but overseas holdings acquired through London (think London offices of the primary dealers...)
Well yes, but transferring the cash through swap agreements or repos is hardly much of a magic trick.
Newbie here, although I've lurked for the last 2 years. Well done ZH, you have been and continue to be my saviour. My gold holdings will provide a nice cushion when all of this finally blows up.
After ZH pointed this (UK holdings of USTs) out several months ago I wrote to the Treasury and asked for an explanation.
Here's what they said:
"Thank you for your email dated 18 October 2010 regarding the government purchases of US Treasuries.
May I start by stating that the $448 billion value [stated in the ZH article] of US Treaasury holdings is likely to be a summary of both private and public investment in US debt. Certainly, the quoted figure does not reflect the government's actual holdings of US Treasury Bonds.
At the end of August 2010, the UK government held $19 billion of dollar denominated assets. The exact holdings are confidential, but I can say that the majority of these holdings are US gvernment bonds, which are held in the UK foreign currency reserves.
The Treasury appoints the Bank of England as its agent to carry out the day-to-day management of the government's foreign currency reserves. An annual Service Level Agreement (SLA) between HM Treasury and the Bank of England specifies the parameters under which the reserves are managed. This SLA includes investment benchmark and limits for controlling credit, market and other risks. In addition, HMT and Bank officials meet on a regula basis to discuss performance."
I am an engineer and not an economist or trader. Apart from the the face value of that statement I am unable to read any more into it. Can anyone else determine any more by reading between the lines?
All we need is 200 trillion, and all might/could/theoretically should be well.
And the killing of the poor, old and sick continues through high inflation of food and fuel prices
Small price to pay to ensure the lives of the elites and their offspring are not impinged upon.
Blue Point Oysters for them.
Blue Ball Points for us placing the x on the dotted line for that easy free credit that later becomes our slave.
The cartel recapitalizing the banks on our dime as was the goal all along.Why not just buy the bonds directly..cut out the unentitled middle man? Ben will do this until every single loss on their balance sheets is made whole from their risk taking.
Then what? Free money goes away..economy crumbles back into reality and it is time for money free money for the new losses. This is the so called "Economic cycles" we have experienced. They are only becoming more and more evident in the past few years and the next "cycle" will be a doozy.
runnin' with the bernank:
good one buzzsaw99, and here is another:
(Uriah Heep - Stealing When I Should Have Been Buying)
The Mafia Bosses must be feeling like a bunch of chumps these days. Their versions of organized crime are quite lame compared to this.
let them have it. let them have platinum buttons on every suit, let them drink 10,000$ bottles of wine everynight, let them have 1,000 volkwagens with lamborghini badges.
And they will still feel lost
I wonder if the Bernank has a schedule for 2011 with all the index levels he wants to see at the end of each week. This week's might say 12,125 for the Dow. I bet Harry Wanger knows.
Jamie's (not) Crying:
Heres a better song for PM´s...paper money....Ronnie montrose with Sammy Hagar singing in 1974
Thank you Tyler. I'm glad someone is watching this - paging Ron Paul. Is there any representative of the people out there?
Incredible that the Bernank is running
the biggest economic fraud in history.
No more free markets.
Who said crime doesn't pay?!?
It doesn't pay if you are one of the sheeple, then they come down on you like a tonne of bricks
Criminals eventually get caught. I hope.
I wonder what the commissions were on these trades?............
We need to put this in from of our Congressmen and women to make sure they understand that they are sitting on top of the biggest criminal enterprise in history. We must be persistent about this, so that they cannot say they didn't know. Let them know that 2012 isn't that far away and if they don't do something, we will!
great catch, Tyler
Too bad there's not a "finders fee" like the one given out by the IRS.
This crap will go on till the dollar is worhless.
That's the plan.
They know that these bonds are junk and that's why they are being flipped as fast as they are being "bought". Our financial system is going to implode and it will be the bond's that act as the lake of gasoline.
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