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"QE-Off Rumor?" Bonds Down, Stocks Down, Gold Down
S&P 500 futures are currently experiencing the largest intraday drop in May - seemingly set off by this which was largely a joke uttered about an hour ago...
Over/under on a 3pm Hilsenrath article hinting tapering is coming sooner than later
— Andrew Yorks (@andrewyorks) May 9, 2013
... Which promptly escalated into a full-blown rumor that Hilsenrath is about to issue an article heralding the end or tapering of QE.
Sigh.
Treasury prices buckled lower, gold and silver are falling and US stocks are back at Tuesday's close...
biggest drop in S&P 500 futures in May...
Charts: Bloomberg
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How come rumors never send gold and silver up??
LOL, but a completely valid point.
Bart Chilton is all over that.
I'm surprised these ponzi markets aren't down more on that blow up in the $. The dxy blew right through res. at the 82.50 level.
So stocks and bonds (mostly) rebounded but currency and gold did not???
May be a trial balloon - Ben speaks tomorrow morning at 9:30
Good for another 100 points.
Everytime the market has any resemblence of going down we get Bernanke and Obama out.
The chance for tapering is quite gone.
Only HALTING has remained the only option and it's coming in few weeks, again weeks, not years.
Just BS. Won't happen.
Why do you say that, ekm? Was wondering why you think that is a possibility. I will be gone until tonight, but you can send me a contact request if you like. I am interested in discussing ideas- not in browbeating anyone.
Thanks.
email me
ekmgreat at gmail
Maybe that psycho Bernanke is concerned about what mess he leaves to the next Fed Chairman. On second thought. Nah.
Fed is trying to massively QE while trying to stop the front running.
Says years more of QE, then says it may consider stopping.
Whats real and what's BS.
Real is the Fed is massively QEing.
BS, "We might stop". Hasn't happened yet.
Here ya go Tyler. Now we have seen it all.
MarketWatch:
Dow 116,200: Not as far-fetched as you might think
And these idiots get paid for writing this crap.
Dow hits 116,000 and no one has a job.
Possibly worth noting - GS and JPM are not rebounding with the rest of the market - if anyone would know the validity of such a "Rumor" they would be a the top of my list. Just sayin - maybe even the FED can see they are creating something that will not end well if allowed to continue at the current pace.
Just saw Maria get a little POd at Ty for sarcastically saying lobbyists were actually educating congress. He said it after she finished her praise of the banks and her disgust with Dodd-Frank regulation. She said she didn't agree with him and Ty was like, ok. He said it like I don't care bitch.
When something changes- and something WILL change- the odds are most will NOT see it coming. The bankster crooks might have a heads up- might not. If Ben "Dover" Bernanke's ilk don't get an early heads up, the exit door may be damn small.
They own the FED - I agree the door will be small anyway - but I would bet my life that "A FEW" will definately have a heads up.
My paycheck comes next week, hopefully gold stays low.
between this rumor-joke tweet, junk yield below 5%, sell in May and Benghazi scandal resurfacing - the bell ringing at the top is loud and clear
U.S. charges eight in $45 million cyber crime scheme
http://finance.yahoo.com/news/u-charges-eight-45-million-153054670.html;...
No... The Usual Suspects..Corzine, etc.. aint on the list of suspects
just a test
None of this is real- Infected Mushroom
https://www.youtube.com/watch?v=efe4jTJG_jk
That wasnt bad-I also listened to part of "Wanted to" but a couple minutes of that bass line made want to check my underwear.
They have a terrific live show if you ever get the opportunity.
Cooperman just gave you the Fed talking point. market fairly valued . Ending Qe gets you a 10-15 pullback but then you buy becasue stocks will be "cheap". He is "cautious now" but is clear that it doesnt mean he dislikes the market. You simply can make it up. He was down how much in 2008
This really concerns me ... if any reaction occurs equally to both equities and gold ... why is owning all the gold I have any kind of protection when I know that there will be a crash at some point down the road. And if the status quo holds for long, equities keep going up while gold/silver do not match strides because of bank manipulation, then gold seems the worst possible asset to hold.
S&P500 Hourly bull channel needs a close below 1610 to consider to be "the top".
http://bullandbearmash.com/chart/sp500-hourly-remains-inside-bull-channe...
The fake-outs have been going on since last November. Wow - S&P500 down a whopping 9 points - that's huge!!
Sell in May bitchez. See ya in the fall. I'll be lounging on a beach in the Greek islands.
At times like these I wonder if there's any point in watching markets, as even the money loss is fake as you didn't lose what you never had, because it doesn't even exist, it's all just a slavery gimmick, an exploit-mind-fuck.
For example;
A real trade loss occurs when I agree to buy a gold bar (mixed alloy of course) and I don't pay you or give you anything, but just piss-off with it.
But if I bought the bar and paid fiat for it, that also would be a real loss for the seller, but he wouldn't realize it, as he's been mind-fucked to believe he just got something.
The ultimate mind-fuck is the one where I'm told my mixed-alloy ingot has a value defined by a constantly printed and debased imaginary fiat digit, but I'm too dull to realize I only have useless yellow metal, but I'm saved from 'poverty' via the mutual dimness of another who is just as insane as me, and they will buy it from me for 'maw', so pays me something that they don't even have. And I'll feel much better knowing that I will be able to find another idiot who will give me real food for what I don't really have.
One might ask, what really is 'wealth' or 'inequality', or 'debt', if not just one giant planet-embracing uber-stupendous mind-fuck?
In about 3,700 years from now someone may still be kicking-on, who looks back on the psychology and activities of 'markets' in 2013 with aghast amusement and an uneasy embarrassment to know that this is the quintessence of their heritage.
+1 for making my tin hat glow!
At THIS point the situation's entirely FUBAR. However given less extreme conditions of fraud I suspect there's a valid & useful purpose for debt: to ship debt notes via any means of information transfer, but to verify enough to ensure there's no fraud in transmission, and to ensure there's no fraud in supply or creditworthiness of the debt (currency, bonds, bill of sale, other loans, etc.), has a cost. This cost is not that high compared to physical goods being transported. Counter-party risk & fraud risk goes up, shipping & storage costs go down. In theory with a non-FUBAR market one could determine a balancing point at which one situation clearly prefers one choice, or its opposite.
Today we have a rather extreme market so for the non-full-retards the one and only safe choice is obvious.
A red close?... I must be dreaming.
Silly rumor.
Eeveryone knows we can't "turn off" QE
Meh, nothing unusual or extraordinary. Bullish for site hits though.
Well BitCoin has remained flatter than a machinists granite inspection plate after the news of Gyfts opening it up to 50,000 retail locations. Guess the news didn't make it to CNBC.
symbolic red day, just so it doesn't look to fake.
Just saw a perfect 1:1 correlation gold to usdx % move. Almost a if there were some connection in value.
OK time to drag out my rant from ... what is it now ... 2 years ago?
"Hope you didn't put much money on that bet, Dawg. These fuckers are going to print hard enough to wake the dead. They'll print like mo'fos, print like mad men, print like fly pimps. Print until their eyes bleed. They will print via the swaps, via bank bailouts and mergers, via fixed Treasury yields, via real honest-to-God negative interest rates, via loans to banks on no collateral, via payroll tax reductions, and in the end via actual fiat paper instruments which they might very well drop in bails from actual mutherfucking helicopters.
They will not give two figs what anyone thinks.
Here is why.
Because this is the Goddamned end of it my friend. There is no accounting beyond this point. There will be no history of it. No one to take notes of rates of exchange, or of the graft and violence, nobody to worry about the deficit or the GDP or the national debt of any nation large or small under the blazing Goddamned sun.
End. Of. It. Does anyone bitch about how Rome totally debased their coinage at the end? Hell no. But whoever did it had enough to hand and grabbed some land with a nice vineyard and sat back and waited for the Middle Ages to start 700 years further on.
And that's what a singularity is about. Anything that passes through is striped of all meaning. Nothing we think is important now will remain so beyond the event horizon. Nobody will remember, nobody will write about it, nobody will be held to any standard. Ever for evar.
So yeah, they'll print like the mad crazed terrorists they are. Because they have nothing to lose, and maybe something to gain. Maybe a dollar. Maybe a day. Maybe a slim chance to escape with some of the loot. Whatever the fuck advantage they see in it, for themselves and their elite crap wanking buddies, they will full-on-full-time-fucking do it to advantage.
Watch for it, Dawg. It's totally on this time, on like Donkey Kong. And when the dust is settled in a generation hence it's going to have become another unbelievable episode among the ages of men."
Dark Ages 2.0, mothafuckas...
Well done. SS disability expansion is a stealth helicopter drop.
Fact. Half the country will be "disabled" by 3 years from now.
What strange times we endure.
"Oh, you hurt your back." Here are your 'Bennys', and try like hell not to get hooked on this unlimited supply of Percocets.
"Does anyone bitch about how Rome totally debased their coinage at the end? Hell no. But whoever did it had enough to hand and grabbed some land with a nice vineyard and sat back and waited for the Middle Ages to start 700 years further on." - Classic. I'm going to refer to this in the future.
This is true unless it isn't.
Today's koan: QE can't stop, therefore it will.
If only it were true...
Then, we could back to a real market, instead of this mirage market!
Ha must be you fucker's lucky day. While dragging up that old rant I ran across something else I must have written for the topic, a bit of off-the-cuff fiction. It's Diamond and Fortran again, if you know them from past episodes then good for you, if not then get skooled rookie. Don't know if this was ever posted here, but here it goes again anyway:
---------------
“The economy really sucks right now. And these economists are wee pricks.”
Diamond looked up from the carcass of the dog she had been eating for the previous four hours. “The what is sucking?” she asked her sister, digging at the base of a fang with a fingernail.
Fortran folded the newspaper along a different angle to read from another column. “The economy. Someone stupid is fucking with it and it sucks.”
Diamond tossed a bone over her shoulder to lay among the others scattered behind her already, sat cross-legged, and pulled her thick striped tail into her lap saying as she did, “You still haven't told me about the what.”
Fortran sat the paper down in her lap. “Okay, here's the what. The economy is the sum of all productive human activity, or should be. These days people don't actually do much of anything productive, which is probably just the way it is so it's fine, but rather than let the economy collapse someone is fucking with it. But they are stupid fucking with it, so it's actually become worse than just the bad it might have been had they left it the fuck alone.”
Diamond was listening to all this while licking her fingers. After Fortran finished she stood up and said, “I see. Well if it's a real someone doing the fucking around then we can fix the situation by killing them.” She stood looking around as if it should be obvious who that someone should be. Fortran smiled up at her. They were sitting in a public park ringed by boulevards heavy with traffic and pedestrians so in the near distance where a lot of candidates for Diamond's simple but highly effective brand of solution.
“Thank you for your enthusiasm,” Fortran said up at Diamond, lifting her wings slightly in visible mirth. “However the fucker in question is not present at the moment, and even if he were I'm not sure killing him in his actual person would solve the problem.”
“Why not?” Diamond asked, folding her arms and frowning.
“Because these guys have a special power.” Fortran adjusted herself on the park bench as if warming to a story. “You kill one of them, and two more appear as if by magic in his place, spouting the exact same lies and propaganda. The more you try and solve the problem the worse it gets.”
Diamond snorted. “Balderdash. Sounds no worse than a zombie army. They don't stay down either, but that never stopped me from hacking them to pieces. Have I ever lost ground before a zombie horde? Ever? You ever see that happen? No you haven't.”
Fortran shook her head. “Sister, it is not economists bodies that rise up from the grave. It is their ideas. And while you are potent against any actual thing found on this world you cannot destroy even a single bad idea.”
Diamond looked at Fortran for a while, her arms crossed, saying nothing. And Fortran watched her back smiling gently, as if waiting for the mighty creature to give it up. Or just as likely to come to some novel and workable solution.
“The way to manage a bad idea,” Diamond finally replied, “Is to let it run it's course, while pointing out at every turn and in every way that it is a bad idea. That it was from the start and will always be a bad idea, that it is a bad idea having real harms, that people are suffering and will continue to suffer from the bad idea, and that once the bad idea is behind everyone then they need to be very certain that the bad idea is not ever given credibility again as an idea.” She leaned down and added, “And don't discount directed application of force darling, because if I can destroy enough of it fast enough you can set yourself up as an economist and show these wee pricks how an actual genius gets it done.”
Fortran clapped her small, blue hands. “Brilliant! I'm voting for you next election.”
Diamond stretched her arms over her head, her thick tail moving slowly behind her legs.
“Wait. Wasn't election another thing some wee prick was fucking with and screwing up a while back?”
Fortran stood up beside her sister, hugged her around the middle, and said, “Yes it was, I nearly forgot. I swear there is nothing left of any importance that the wee pricks have not fucked up.”
“Well they better not start fucking around with ice cream,” Diamond said darkly.
“Indeed not,” Fortran agreed up at her larger sister, her own eyes narrowing into electric blue slits of immanent murderous deathage. “And as a start in our defense of sacred frozen desserts, it's my treat.”
Laughing, they walked across the grass of the park to a familiar ice cream parlor, one of the few with a door large enough to accommodate Fortran's 16 foot wing span. And so it was that on a spring day not too far in the future the entire global economic farce was allowed to grind forward on its creaking axles for yet another painful day.
It was probably just as well. Fortran no doubt would have made a splendid Treasury Secretary, but honestly, something that sweet and charming should be let to walk in the parks. And as for Diamond, well it's better not to give her any excuses. Zombie armies are one thing. Global anything else -- even bad ideas -- might just become too much fun to quit.
http://www.safehaven.com/article/29772/the-us-indices-the-reality
Since the financial crash of 2008 the western economies (US, Euro zone and Japan) have been using quantitative easing (QE). QE is not new. It was also used extensively in the 1930's. Japan has been using forms of QE for over a decade. But when one looks at the velocity of money and the money multiplier the money is not getting into the broader economy. But it is getting into the stock markets largely through the large money center banks that are the major beneficiaries of QE. Rising stock market valuations help the money center banks balance sheets. It is believed for the US at least that QE is primarily to help prop up the banking systems in the US, the Euro zone and Japan. The banking system remains saddled with huge amounts of debt that is either toxic or uncollectable.