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Treasury Sold 1.5 Billion Shares Of Citi, To Sell 1.5 Billion More
Congratulations to the lucky, soon to be bankrupt, Petrodollar sovereign wealth fund that was suckered by Morgan Stanley to buy this radioactive piece of gamma decay. We hope for your sake that the US government is successful in postponing the inevitable unwind of Keynesianism until you can sell. Of course, you can just shut down oil deliveries to the US, although soon US refiners will just be able to syphon the stuff from the surface of the Gulf of Mexico.
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Gulf of Mexico = Big Oil Drum. Thx BP/Obama. At least when dumbass Dubya filled the SPR, it was underground storage.
Meanwhile PPT just lost Mendoza line (Dow 10,000) today. The market is crying for QE 2.0.
Gulf of Mexico = Obummer's Katrina
Attaboy Salazar-ie
who's the sucker on the other side?
Probably the Fed -- that would be the capper.
you mean the caper?
Qatar Investment Authority expressed a strong interest.
Sorry, wasn't that what I said?
Thing move so quickly these days, it's hard to keep track of which leper has the most fingers...
+1 lulz
+1 LOLZ
Tyler you are killing it. The above was one of my favortie paragraphs you have scripted.
So in summery; US buys shares from Citi, which is owned by The House of Saud. Then sell the shares to an unconfirmed buyer. The buyer will be??? A different broke ass probably. The oligarchs play such childish games. This is hot/exploding potato it appears.
Retail is gonna get their nvts cut off w/ this POS.
What's the half life of this product?
17 days.
Sounds like we need to unload it quickly...
Shut down oil refineries to the US ? Great !!!! Is this an inflationary measure ???
When no one wants to hold any assets for more than 5 minutes - the Liquidity=Solvency.
Probably sold it to Calpers. I can't think of anyone else stupid enough.
Teamsters Pension Fund is a worthy candidate.
Damn it, I bought 1.49 B and had my son by the rest with his saved allowance. I understand this is risky now? Shit shit shit.
They still have over 6 billion more to go. They sold less than 20% in the past year during the greatest sucker market ever. Now that the market is starting to wake up to reality who buys the rest?
"soon US refiners will just be able to syphon the stuff from the surface of the Gulf of Mexico" LOL
BTW, these math question are tough!
+1
The Govvie's stake was $6.9 billion, so at today's share price, the taxpayers (that be us) just lost a cool billion.
After a reverse split Obama will come out and proclaim he's doubled taxpayer money on the takeover, oops, investment.
Call me crazy, but the Feds selling will be good for the stock. After they unload about half of what they have they'll do a 5:1 reverse split to get the stock price back up and reduce the share count.
uh oh... time to go long HFT??
Cramer admits he was wrong about HFT and wants to do something about it:
http://maddmoney.net/jim-cramers-special-interview-video-senator-ted-kaufman/
Cramer after apologizing says to Kaufman " How did you see it, I didn't see it " refering to HFT. What a megamoron. Kaufman a Senator and Cramer an extrader.
For those so inclined:
42 Syphon companies, most are Chinese. Fortunately they all suck.
http://www.ec21.com/companies/syphon.html
I think we sold them to Kim Jong Il, who needs 4 submarines to take physical delivery...
EPIC FAIL
Is there a reason they didn't begin selling with the first announcement -- when C was a buck higher? Why are so many "announcements" required?
I also am interested in the job of pressing sell on the first billion. I will try to obtain liquidity rebates whenever possible. Give me the right shop and I'll sub-penny to get preferential fills across the one-cent spread. But I understand JPM's got that locked up?
When one government - or its 'sovereign wealth fund', central bank, bullion bank, IMF, BIS or other suitable proxy - swaps deadbeat assets with another, is any real wealth produced or even conserved?
Round and round we go. Extend and pretend, DESPERATELY hoping for a consumer-and leverage-driven borrowing spree to somehow wangle a minimally-believable brief spurt of "growth".
Does any reader here really believe this? Hint: has any INDIVIDUAL INVESTOR-PRIVATELY-CONTROLLED CAPITAL actually taken any of these "distressed assets"...?
WOULD any sane investor actually do so?
Round and round the mulberry bush,
The monkey chased the weasel;
That's the way the money goes...
POP! Goes the weasel.
"Weebles wobble but they don't fall down!" Why in the fsck don't they fall down?!
Can anybody supply a good indicator on what would precipitate the crash of the house of cards?