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Fed Buys Back 30 Year Bond Auctioned Off Last Thursday
Earmuffs time for those people (all utterly clueless three or so of them) that the Fed does not monetize the US debt.
From last Thursday, the the US Treasury so generously issued $16 billion in 30 year bond (Cusip: QZ4)...
... to today's POMO, when the Fed so generously monetized some $39 million of the same CUSIP, after the obligatory settlementin the hands of the Primary Dealers of course.
...with about $13 billion more to of this specific CUSIP left to go. From the US Treasury:
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- Ben S. Bernanke
Need a good laugh?
http://www.youtube.com/watch?feature=player_embedded&v=Jr7McLhZmyE
yep, this is the world we live in folks! mindless, moronic, hope-n-change sheep...
Just think of what the velocity of money is going to be when it breaks loose of the closed Fed cyclotron..
Gubbmint will take care of it. They want to make (their) our lives better.
A "thriving" middle class.
Vince Vaughn to Bernanke: "Oh, I'm the asshole??"
Ben Bernanke, guilty of crimes against the State and the American People. This is as clear as day. What exactly is the penalty for robbing every man, woman and child in the nation?
Actually, Bernanke to the citizenry: "Earmuffs."
According to the fines and sentences handed down to LIBOR manipulators that would be exactly.... Zero. Zero penalties.
According to the Bernanke stating blank-face under oath that he would not monetize the debt, then doing exactly that less than a year later? Zero penalties.
Despite this affecting every citizen at some level just watch, no one person would be allowed standing to initiate a suit of any sort. And since ZH has shown much of the current flow goes direct to EU banks? Any suit with merit will eventually be quashed for "national security" reasons if not long before it even reaches that level of scrutiny.
Me, cynical? Nah, realist. :-(
at the time the Dolla Menu becomes the Fiddy Dolla Menu
And you will still be eating pink horse slime.
You will want to be able to afford pink horse slime.....
Ben can solve that in 15 minutes. I heard him say it. He wouldn't lie
Its about goddamn time the nature did its survival of the fittest thing.
wow, it's been a while
Ps: you were right
Do any of you clueless motherfuckers who constantly claim that the Democratic AND Republican Parties aren't an illusion of choice, when in reality, they're BOTH owned by the exact same entities to do the exact SAME large-scale things, care to defend your position with anything more than talking point tripe?
I'll wait with bated breath to see Bernanke & the elders at the Fed asked a single question about this by any "Republican."
Gay marriage, bitches! Oh noes! Republicans generally oppose it and Democrats generally support it. It'll be the death of the nation! (and other carefully selected, yet generally meaningless, social wedge issues).
hey TIS, maybe your kenyan daddy Obama will "hope and change" your liberullz diaper for you cuz you didn't build that! ™ -typical ZH Foxtard
(sorry, couldn't resist)
@ TruthInSunshine, Spot on. May I add the following:
They want our guns because they know the game is about up. The music is about to stop and the dollar is going to be worthless. When the dollar’s true value is realized everybody who had most of their wealth in paper assets are going to be pretty pissed off to say the least and looking for blood and vengeance to say the most.
Thats why our government agencies are stocking up on ammo and want to get all the guns and ammo they can out of our hands. When the system falls apart and the stores are bare because the transportation of goods has collapsed everybody will know without a doubt why they were trying to shut down the second ammendment.
They don’t care about our lives. They just want to protect their own lives since they know they are the criminals that got us into this situation with their bankster overlords.
Yes and they are getting frantic about it.
You might check immigration policy. The War on White People is not being conducted by Republicans.
Yeah right, Bush and the GOP did a lot to stem that tide...............
Yeah, whatever "war on white people" you see is no doubt related to issues over immigration and such, with Republican-favored H1B visas, an aggressive Republican program to expand their share of the hispanic voting base (code word for cave to whatever is "wanted" to secure the votes), etc., JUST like the Democrat fucktards.
Republifucks and Demofucks, indistinguishable in 99.5% of what they DO, and MAYBE 35% of what they SAY.
(This is not a commentary on the merit of gearing political issues to the concerns of American CITIZENS of hispanic ancestry whatsoever, but to demonstrate the larger point that both parties are comprised of knob gobbling whores of the exact same variety, working for the exact same "owners")
It will all come to an end soon enough. Myself i use each day we are still above water to hone my system that will hopefully pull me & mine through the coming shitstorm. As me & my wife were discussing this weekend , nothing is certin anymore. Hopefully someday the globalist bankster scum get what they have coming.
The “government” is a criminal organization. They rule with fire power. They are a gang that numbers in many thousands. Their goons are everywhere. America in under an occupation of criminals and will continue to be until they are at last forcibly removed from our land. Their economic Ponzi scheme is about to collapse and the main mechanism of their control will be gone. Their central bank, the Fed Reserve, (see fifth Plank Communist Manifesto) has run its course. A 100 year conspiracy is coming to fruition and the deed is done. Just one big problem for them, 200,000,000 guns in the hands of free Americans who hate their guts, and are hell bent of restoring this Republic to Constitutional legitimacy. Whatever cruelty, whatever ruthlessness the criminal “government” uses we must exercise even more so. Don’t forget, they want us dead. No quarter for traitors! No quarter for the enemy!
Oh contraire...
Another wedge issue. The Republican war against Ron Paul was a war against Liberty.
When things get serious, you have to lie.
Some European asshole. Fuck you Junker.
Put that scumbag Bernanke in jail for perjury with that even bigger scumbag Corzine!
Then demand to have the U.S.D.A. DEFUNDED for indoctrination!
fuck you bernanke you lying shill
"Na na na na na na na I can't hear you." Okay Mr Bernanke you can take your hands off your ears now.
- Ben S. Bernanke
Banking is an art of fraud
-The Truth
abstract, impressionist, finger painting or playdough?
So a trillion dollar coin minted by the Treasury was an absurdity, but if we do it in $85 billion dollars intervals and through the Fed, then it's "getting to work". Yeah, I see it now.
- Ben S. Bernanke
Doing the opposite never looked so good.
he sure is obsessed with something "irrelevant"
that's the thing about these high level asswipes. If they had to duke it out in the real criminal world, where real things matter, they'd be dead in a week.
if you vote and are registered D or R, and are fed (cough cough) up then get off your fat ass and change your voter registration to a third party or indie..if enough voters do this it will send a message..but then no stay on your fat asses and post your drivel.
this is a riskless transaction for the primary dealers so why isnt there public outcry about ripping off the taxpayers?
Never mind, Ill just answer my own question: LOLOLOLOLOLOLOL
who do they buy this crap from ? Soros ?
The relevant thing is that they are co-signing the taxpayers' names to it.
[Edit: they are signing the taxpayers' great-great-grandchildren's names to it]
What about the debt ceiling? So these 30 yr bonds are to replace bonds that came to maturity??
75% of the 30-Yr February issuance? Looks like desperation to keep the long-end of the yield curve down...
(what's to become of the "housing recovery" when mortgage rates go up 75 bps in the next few months...?)
I've been all over central Florida checking out property for the last two weeks.
Billboards on both coasts advertise 2.99% commercial loans or home equity loans.
Idiots on steroids.
I just refied to a 15 yr 2.75%
It's almost like free money with real inflation being well above said 2.75%
I just refied for 30 years. I plan on paying back my mortgage with obama/benron bucks. The present value of those last 15 years will be the equivalent of a Kalikfornian teachers pension - worthless!
Who says the auto makers can be the only one to channel stuff?
This is turning sureal.
How much more of this blatant bullshit can this lot pull off before it comes crashing down?
I am almost lost for words??
The sad thing is I can see this lasting for years. Just enjoy today, keep stacking, and accept what is most likely going to happen.
Basil Fawlty: "I could have this conversation for the rest of my life"
Manuel ;"Eventually, at the end..."
There´s your answer.
http://www.youtube.com/watch?v=s6EaoPMANQM
At the risk of being called a broken record.......we ain't seen nuttin' yet. Desperate men will resort to desperate measures, making the last few years look tame by comparison.
The key is to manipulate you and I into begging for exactly what they want to do in the first place.
my daughter hasa been begging for a pony. I find it hard to believe the Fed wants to give us a pony.
The Fed wants to give you the back end product of the pony they will keep (and eventually slaughter).
Would you like one scoop or two? Better yet take three. The pony runnith over.
as in a little pony meat in your burger?
Pooh! They make dangerous food!
Horse meat is more dangerous than one thinks.
Consider the supply chain. In 2011, almost 140,000 horses from the United States were sent to slaughterhouses in Canada and Mexico. (The last American horse slaughterhouse closed in 2007.) Many of the horses that landed in these across-the-border abattoirs were thoroughbreds from the U.S. horse racing industry. Others came from prolific quarter horse breeders, who send horses into racing, ranching, and rodeos. Racing in particular is a controversial business marked by overbreeding, early racehorse retirement, and EXTENSIVE DRUG USE. (The New York Times has laid bare the harrowing evidence this year in an excellent series called “Breakdown: Death and Disarray at America’s Racetracks.”) Indeed, many racehorses essentially become PHARMACEUTICAL DUMPING GROUNDS throughout their artificially stimulated, sedated, and numbed lives. The CHEMICALS that course through the blood and lodge in the flesh of many thoroughbreds and quarter horses might ease their pain and treat their diseases, but they also make these animals distinctly UNFIT for a GoogaMooga sandwich.
Watch out the performance-enhancing drugs such as Phenylbutazone, known as PBZ or simply 'bute'... they are toxic for humans.
U.K. 'Horseburger' Scandal: Did the Meat Originate in the U.S.? | Maryn McKenna
http://www.wired.com/wiredscience/2013/01/horse-meat-scandal/
Food Trade Too Complex to Track Food Safety | Maryn McKenna
http://www.wired.com/wiredscience/2012/06/food-trade-complex/
a world (fiat) currency... firmly in the claws of the banker scum.
you said a mouthful. Ironic since it starves so many
Do you ever wonder CD, how in the hell...
It's just the tools and the scale isn't it? Mankind has never changed. And never will.
Doesn't this mean at one point, it breaks
God knows if the scale of destruction is record breaking
so too will be the reaction
Gee, I feel better
Nominally they can maintain it with two outcomes; A completely Fkd economy and a gold moonshot. They can rig their paper vs other paper all day, but have no control over the physical reality It is like playing farmville all day harvesting imaginary food, but never stocking your fridge and dying of starvation.
Not so fast Quinvarius...not so fast...They do not control the physical (i.e. the monetary base of the currency called gold), but they do control its credit multiplier (the leverage on the monetary base). And this control seems to be unchallenged....
You won't die of starvation if you fill your stomach with your own shit and repeat when hungry. - Ben Bernanke
What's a few billion digits amongst friends? The only thing that matters is that brutal sequester is prevented from happening......brutal.
Brutal, yeah.
Draconian even.
/
POMO, it's like an EBT card for banksters.
+1
Simple, yet accurate metaphor.
Don't know about EBT but they certainly seem to have plenty of Get Out of Jail Free cards. Guess Obummer is the Joker?
Huge sign on a convenience store:
EBT
NOW - EBT
Even with minimal English, the shit comes out the same.
Did someone mention EBT ?
Here is the EBT anthem:
http://www.youtube.com/watch?v=xLTTX35LNJo
It takes a lot of these transactions to hand out enough money in order to temporarily keep gold from rising.
30 year vs 3 working days - madness.
Let's see....
ZH: Cars - bad! Housing - bad! Freight - bad! Fed - bad!
Yet..... SP +8
Sorry, ZH is looking more and more like the crazy guy on the street corner proclaiming "The end is near!"
Again, sorry.... but that's how it looks.
Proof that the Fed is controlling the market. Thanks for confirming.
Penis still works in fat chicks too.
Maybe, maybe not.
Yep, close your eyes and play make-believe. You have to do the same thing to think "all is well" and "things are getting better" and "the market isn't being manipulated."
Hopium zealots are in a constant euphoric lather because the equity markets are approaching new highs. As was pointed out last week, when the Dow was last this high in October 2007, the price of gold was around $700. Here's a deeper-dive tale of the "recovery" tape:
Silver: Oct. 2007=$13, Today=$30
Gold: Oct 2007=$760, Today=$1,620 (or whatever they hammer it to...)
Reported Unemployment: Oct 2007=4.7%, Today=7.9%
Case-Shiller Home Index: Oct 2007=190.9, Today=144.9
New Home Sales: 2007=774K, 2012=367K
Housing Units Built: 2007=1,500K, 2012=651K
Fed Reserve Balance Sheet: Oct 2007=$873B, Today=$3.11T
Food Stamp Recipients: Dec 2007=28.7M, Today=48.2M
Federal Spending, Annual Rate: 2007=$2.7T, Today=$3.6T
Fed Tax Revenues, Annual: 2007=$2.5T, Today=$2.4T
Retail Gasoline Price: 2007=$2.84/gal, 2012=$3.68/gal
Money Supply: Oct 2007=$851.6B, Today=$2,760.7B
Personal Bankruptcies: 2007=801K (75% up from 2006), 2012=1,245K
Foreclosures: 2007=405k (40% up from 2006), 2012=742K
Don't be fooled by the 'recovery' meme, and be cautious about entering the pre-slaughter sheep pen that is the equity markets.
I'm stealing this to show others.
Lets see...
CNBC and MSM in 2007. housing-good, stocks-good, freight-good, fed-good.
How did that work out cocksucker?
What are you paying for gas now? Is it in the neighborhood of the prices in mid-2008 (when oil was about $25 higher)? How's your grocery bill lately? Noticed any change in prices and/or package sizes? Been to a restaurant lately? How are the prices compared to last year (or even 6 months ago)? Yes, of course, everything's fine - S&P's up 8 points, sound the all clear. And luckily for us, food and energy aren't part of the CPI, otherwise we might be experiencing some inflation.
There you go again itemizing all the destruction surrounding you!
+1 is all I can give ya.
You know what will fix this? Increasing the minimum wage to $9/hr.
"Judge not the appearance, judge righteous judgement".
Your faux concern is touching, here's your earmuffs.
"Yet..... SP +8"
Really? Says who?
Must... keep... the... ten... year... yeild... at... or... below... 2.0%...
The Fed keeps pushing the yield down like a tightly coiled spring. It will be quite interesting to watch it release.
remember those old garage springs...on the two car 400 pound wood doors?
Well, he is not REALLY monetizing the debt, because he will eventually sell them back and destroy the money previously created. Right Ben?
Right? Exactly so. Right after Hell freezes over.
"Well, he is not REALLY monetizing the debt, because he will eventually sell them back and destroy the money previously created. Right Ben?"
But what happens if nobody wants to buy?
What happens if it really is nobody, as in N.O.B.O.D.Y. wants to buy? At any price?
History has draped that play. The final act makes Lady MacBeth smile
so what has been the cumulative profit transferred from the government to the banks/primary dealers since the inception of QE?
is it 1.7 trillion times 18 years duration times 2 basis points, so c. $6 billion?
nice money if you can get it, given it's a guaranteed profit with no risk
i could use 1% of that.$60 million ..or even not being greedy and all..0.1% of that or $6 million..or 0.01% for $600,000
how much have fat banksters bonuses been in the treasury dealing rooms of JPM GS MS DB and HSBC in the last five years?
let guess..around $6 billion amonst what...30 dealers? so twenty million a piece.
sounds about right..
fuck you US government, in all its guises
I have had enough of the propaganda on this site.
I am going to Bloomberg to find the truth!
This system they cooked up where 'the market has to vet the prices' - eg the PDs have to buy the debt instead of the Fed just buying it straight from Treasury is sure working out great as a safety valve to prevent debt monetization and enforce market discipline on the govt. Man, those Fed founders really thought of EVERYTHING!
He's caught in his own web.
And our society, and us all, will die agonizing deaths, because of him.
as they say.."looking at all the horse shit, there must be a pony in there somewhere..."
I'd never heard that one, but I'll definitely remember it for the future.
Gotta hand it to those jerks.
They really know how to form a circle.
Wait: circle...jerks...what are you trying to say?
Gotta give it to those fucks... they really know how to cluster together.
And one of these days they'll all be clustered together at El Al Airline boarding line, with their one way tickets in hand. Binny will be first in line with a toupee and cleanly shaven.
With all of the currency crises this country has seen, you think we might have learned something by now.
I hear people say, "we need to take the money out of politics". Actually, no. We need to take the politics out of money.
its like by the time we're old enough to understand whats going on we're outnumbered by those who dont get it
Small Business: This is illegal!! SEC gonna rape you like it did us!
Government: Nah, nothing going on here.
Sovereign individual: What was Obama's golf score this weekend?
Sorry if there is an obvious answer to these questions, but:
1. Do we know what the Fed is actually issuing when it buys these bonds? Do we know that it's Federal Reserve Notes (ie. U.S. dollars) or could it be something else (ie. a subordinated promissory note or low level equity in the Fed which will never be repaid) so that the currency supply is not actually increasing? Obviously the taxpayer would be seriously fucked over in that scenario.
2. Do we know if as a condition of the Fed purchases whether there is a collateral agreement whereby the Fed has the right to "put" the bond back and, if so, at what price?
It's straight up Open Market Operation. They take the bonds, pay in newly printed cash, end of story.
There's no swap, no repo, no PIK, no equity. Straight up cash.
Wheeee!... more joobux... I'm going to have to get me one of those confetti cannons...
but they do run a massive repo and reverse repo market for this skilled in rehypothecated tr-partite repo stuff.
Their FX Swap activity is rather interesting too
The last vestige of a desperate nation....
This shit is beyond comical. I can see it already. "Dominos Pizza" is spinning platinum coins in the middle of the night, so they can get the Obama>care writeoff!
In other news gold down again. :boomers laugh at stackers:
...time to put more PMs on the CC. lulz lulz lulz
I'm buying the dip buzz. Stacking some more xag this week. Also adding to my cable positions. The 10 handle move is in, and the currency wars are heating up!
I am not sure you should stack XML Accessibility Guidelines.
Wait for the price to come to you. Whats the hurry ?
Next Tuesday the 26th is options expiry on the Comex.
All correct guys, but so far no one seems to care. Sad but true.
A Greece in the making.
More printing, Food Stamps, Free cell phones and bailouts.
Please end that farce, FED should just become a primary dealer.
Good job 100% track record of deception!
What state should secessionists move to: Texas, New Hampshire? Got to get rid of the FED somehow.
Not NH Massholes own nh its just a matter of time before NH changes its name to taxachusetts.
Not to worry. The central gamblers have everything under control.
The US should default on the debt, including the FRBNY, remove the gold from the FRBNY vault and put it in Fort Knox.
Back the US Treasury note with silver at 10:1 leverage. Sell as much gold as necessary to purchase enough silver to make currency stable.
Fuck the Jew bankers on Wall Street. Remove Manhatten from the Union and make them support their own infrastructure.