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No Surprises From FOMC - Statement Redline Comparison
As expected, Bernanke and his pals decided moar is betterer and keep the monetary policy foot to the floor even as they suggest things are getting better but not better enough.
- *FED SEES ECONOMY RETURNING TO MODERATE GROWTH AFTER Q4 PAUSE
- *FED CONTINUES TO SEE DOWNSIDE RISKS TO ECONOMIC OUTLOOK
- *FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYING
- *FED SAYS FISCAL POLICY HAS BECOME SOMEWHAT MORE RESTRICTIVE
So everything is moving forward; Politicians are still idiots but don't worry we won't stop...
Though the schizophrenia remains as they cut growth for 2013 ( 2.3%-2.8% vs 2.3%-3.0%) but lowered unemployment for 2013 (7.3%-7.5% vs 7.4%-7.7%).
Pre: 10Y 1.94%, ES 1550, Gold $1606, WTI $92.70, EUR 1.2950
The redline comparison with the January statement:
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Fuck You Bernanke!
Look at the whipsaw in silver:
http://www.pmbull.com/silver-price/
Down then up then down, LOL.
Which way will the trend break after these initial gyrations?
if you print it, they will come......
to dow 20,000 bitchez. yahooooooo!!!!!!!
Fed is positive; FedEx is negative.
Who to beLIEve?
If our Federal Reserve is serious about fostering economic growth, they need to start looking at other monthly purchase programs. I know there have been moves to monetize mortgage backed securities, but these purhases need to part of our Federal Reserve's permanent monthly purchas program. Peoples' lives are literally depending on the innovation of our monetary leaders. They need to recognize this respnosbility and step up the purchase programs to increae aggregate demand and get our consumer economy back on track. The slower the economic recovery, the faster Americans lose their pride and sense of self-esteem.
when one loses her pride, then no more pride parades
MDB - thanks for the not so gentle shove of salt into the wounds of realists.
* FED SAYS WE GOT THIS SHIT UNTIL WE DON'T BTFD SUCKERS
FED can buy shit from sewage plants to stimulate whatever, why not?
Stop hunting 101
26 days of trading and silver hasn't closed up / down more than $0.80 during those 5+ weeks....$29.40 to $28.60...hmmmm.
Hotel Fed
You can check out any time you like but you can never leave.
low interest rates until 2015 if not longer and $85b a month from now to infinity. some recovery.
That's what Martin Armstrong predicted as well. And then....
The 3 most honest minutes you'll ever get from TV:
http://www.safeshare.tv/w/UAGOcLSuLX
That is awesome! To bad it is a set and not ad lib.
Kudos!
Which one doesn't belong in line?
"The decision again was by an 11-to-1 vote, with Kansas City Fed President Elizabeth Duke offering the only dissent."
Gotta maintain some credibility.
<snark>
PRINT PRINT PRINT!!!!!
Roll those presses!
http://www.youtube.com/embed/BHu8LAWSKxU
Roach motel
FED: SEES PINK SKY AND GREEN MOON
is as accurate as the lies, er, statements they put out
what a fucking joke this whole thing is.
I mean really, step back and look at this from afar. what a fucking mess of a joke this is to watch these assclowns read their mini scripts.
I was expecting some kind of language change, though they do not need a meeting to stop QE.
Let's see what Benny says.
ekm if the fed ever does stop qe, what do you think the reaction would be in the treasury market?
QE will be stopped on Obama's order.
Hence, when that happens, primary dealers and major euro banks won't be able to continue with quarterly CDS payouts, hence they'll be obligated to sell anything they have starting with the more liquid ones.
This is a LIQUIDITY BUBBLE (EXCESSIVE MONEY). Everything will go down, bonds, stocks, gold (lesser fall), commodities, anything.
so interest rates rise right? you then enter a currency crisis.
then what?
You'd have few big banks go down, few oligarchs becoming poor.
Nothing really bad, assuming chinese and russian counterparties will accept the losses.
If they don't then some kind of war, then may God help us.
i think if you get a spike in rates, once that horse is out of the barn, it's all over.
the only question then is do we go hyperinflation or hard default.
That day is coming, but now while everyone hangs off the fed's every word.
We are not far from it.
I agree with you that cyprus was a setup.
Food prices are increasing, gasoline is higher. Fedex is crap.
I think Obama feels like Bush in 2008: To crap it or not to crap it
I think he will have not choice but go ahead, same as Bush did. Quite possible Obama will delay Iran decision again or leave it to Hillary or Rand Paul, whoever wins next elections.
Hilary... Oy vey.
Wait till Bernanke starts the press conference to see some real bullshit. Sounds like he'll try to take a couple jabs at congress to distract attention away from his crimes.
I think you're too kind.....bring in Longsoupline
here comes the rip higher. the bernak is just telling us the joke time and again, it's our fault we still listen to it not realizing we are the punch line.
Nice price movements.
Words you will never see in a FOMC statement ever:
"The members agree that there is no justification to continue with the previous regime of unconventional monetary easing."
Nor any words that amount to the same thing.
'Members agreed that price stability is achieved, and adjourned without any plans to reconvene.'
The Bernanke is really another cyborg created by Synet to destroy the
human race.
BernanQE will be easing when SNAP participation increases by another 20 million and labor force participation drops another 4 million by 2015.
Moar
http://www.youtube.com/watch?v=OnA3C9Af_oc&feature=player_detailpage
Bbbbbbbbbbbennnnnnnnnnnn!! Where's the QE?!
I'm balls deep in /ES BTFD, PLEASE HALP!
/sarc
So they are no longer saying they will maintain this course until such improvments in the labor market are achieved, but they will do so until the outlook for the labor markets has improved substantially.
I think they are planning for an early exit.
Japan has been with this same program for 20 years!
The only only way to stop the NYFRB is to end the ,absolute, supremacy of the petro-dollar.
The petro-dollar is the only regime supporting the ponzi scheme.
Turd Fergusons site down? ZH has been sticky today too...
Goes with being best in the industry.
They (the liars) are coming to get them (the truth-tellers).
If EVERYONE now KNOWS, and MANY are starting to publicly air their discontents, then the only question is ... how much longer?
The reflexive nature of knowing undermines the passive belief in the system. The wink and the nod have been pushed out into the open.
Is this 1998, or 2008? Perhaps, it could be either, dependant on a trigger event. Bifurcating paths.
I would have said there was a morning smackdown on metals commensurate with the meeting of the FOMC... but after Judge Paterson's rulling and the CFTC decision I know such things don't happen... hellava coincidence though...
In its way, that dismissal news is as important as what happened in Cyprus. The system is runaway. The brakes are removed, the accelerator is being pressed the floor, and the regulator 'cops' have no spike belt.
Yea right! More like $85b per month Europe bailout.
I'll say it again and again after every FOMC meeting.
Force the FRBNY into Bankruptcy, default on the debt and dissolve the FRBNY.
Stop Congress from abrogating their responsibility, hire 100,000 prosecutors to root out the, very few, responsible for the financial crisis and lock them up.
Have the Hague declare the financial crisis exactly what it is: A CRIME AGAINST HUMANITY
Try, convict and execute those responsible.
Has this ever been repealed?
Once again, Bernanke says "I'm keeping the field tilted downhill for the bulls, just like before. Anyone who plays is allowed to play on the bull team, not just the banksters". While no one, especially Grandma, wants to be forced onto the bull team, it makes sense to me to at least stop betting on the Bad News Bear team.
GDP down + Inflation Down = Unemployment Down
It's worked so far, and according to Ben's equation Unemployment will hit Zero the same time GDP and Inflation do.