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Goldman: "Our View Is That Tapering Is Announced At The December FOMC Meeting"
And yet another post-mortem opinion, this time from the man who meets every month or so with Goldman's the NYFed's Bill Dudley at the Pound and Pence in FiDi: that of Goldman's Jan Hatzius.
The most notable statement made by Bernanke during the Q&A session was that the FOMC could potentially cut the pace of QE purchases "in the next few meetings," although this was predicated on a continued improvement in the outlook for the economy and confidence in the sustainability of that improvement. He also stated that the purchase pace will depend on incoming data and that the FOMC could either raise or lower the pace of purchases in the future. Our view continues to be that the December meeting and subsequent press conference is the most likely time that the Committee would announce QE tapering, although September is a possibility if the economy picks up more than we expect in coming months.
2. On the strategy for winding down the Fed's portfolio, Bernanke noted that the Fed could exit without selling securities (in contrast to the June 2011 exit principles which prescribed asset sales), consistent with the recent trend in Fed communication on this topic.
3. Bernanke's prepared remarks were very much in line with recent communications from the Fed leadership. He acknowledged the gradual improvement in the labor market, but stressed that the labor market remains weak and allocated a considerable amount of time to discussing fiscal drag. Bernanke reiterated an argument which he has made in the past, that raising interest rates prematurely could choke off the recovery, ultimately resulting in a longer period of low interest rates.
But... but... Hilsenrath just said attempting to predict the tapering, pardon, the slow down of $80 billion in monthly flow is futile and meaningless!? (incidentally we think it will be September: just after the Bernanke-free Jackson Hole meeting and right around the time the US debt ceiling is hiked again, following much theatrical kicking and screaming from all sides).
Or is this just another "distract with BS" script, while the oligarchy continues to quietly convert paper assets that have never been more expensive into oh so very cheap real ones?
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The last time I got this good a hum job was when.........nevermind. :)
<All the Fed and its various talking heads have left in their tool bin is the verbal BJ.>
Oh please do tell, do tell!
And while it still matters....
http://abcnews.go.com/blogs/entertainment/2013/05/dancing-with-the-stars...
I'm dreaming of a Green Christmas.
And the herd continues to scatter, reacting to one head-fake after another.
Who cares...QE3 will taper off and Feds start QE4.
Talk of tapering off is BS.
Of course, there will never be a tapering off until the US Dollar comes to an end.
The Fed is purchasing 85B per month. You can be sure by year end it will be more ... much more. I think it will be at least $120B per month by the time we get into 2014.
No change until Ben departs...
Squid's in the know. He's covered.
Yes I know what you mean. The 1-900 thing works for awhile but soon it just doesn't do it for ya anymore.
People don't realize this is the tapering they're talking about:
http://www.edenfantasys.com/anal-toys/anal-probes/tapered-ruby-butt-plug
I still won't think they will ever stop printing....there maybe a "pause" for it, but the minute they even think about stopping = market chaos.
2015 is my end date for the current bubble. Sovereign bonds will be what tirggers it. 2014 will be the "2006-2007" in the sense that is when the MSM will finally realize that the economy sold to them with the DJIA gains was all mirrors.
Ironically, an economist I follow on Twitter from UM says that he doesn't get why Ben Bernanke loves Abenomics, but doesn't practice them. Don't worry, buddy: once the market sells off 25%, Abenomics (aka the M4Carbine Money Printer) will be the only action left to "save" the market.
Todays news, presses full speed ahead and the market responds with
Stocks - up check
dollar up ???????
gold down??????????
Oil down????????
10 year rate through the roof??????????????
The market algos don't know what to make of the latest Fed rat poision left in the closet.
<You try it. No, you try it. I'm not going to try it. Let Mikey try it. He eats everything.>
And before they claim it subversive....
http://www.youtube.com/watch?feature=player_embedded&v=npjOSLCR2hE
LOL!!
Goldman strategists get paid gazillions to look at a calendar?
"Here, pass that calendar would ya? I'm gonna be rich I tell ya"
"What a load of commie bull." Gen Buck Turgeson, Dr. Strangelove
More bullshit...ignore it.
Fuck you Goldman you fed cocksuckers. I would like to dream right now that the bond market is overwhelming the fed but the financial system as we know it is not ready to blow it's brains out.
Oh, and hitting the crack pipe and playing around with formula's with no understanding of the physics behind them, is not refereed to as MATH.
Extend & pretend. Just like Europe. Deja vu time until they have to double the $85 billion.
Translation: PUT YOUR HEAD BETWEEN YOUR LEGS
AND KISS YOUR ASS GOD BYE!
I can still touch my toes--that will have to do.
GS is milking the bubble...making sure it doesn't inflate too fast. Hantzius office might be like this:
http://www.youtube.com/watch?v=glSN4qvjt2E
That is Goldman Sach's job. How's the dollar doing?
Can i say, fuck you goldman!
Your views on many things are most of the time wrong, and as being one of (maybe the most) powerful multinational banks of the world, i really don't understand if use to say bullshits purposely or they are just not as good as they should.
Anyway, this damn QE tapering must be announced in the focm of today, this is MY view.
And Good Luck
4 years of money printing and thye economy is on a banna skin and the next few months it could pick up? lol! What a crock of Bull.
What a load of bunk. Why in the hell would the announce any tapering a month before the Bernank is headed out the door?
Maybe they are insinuating that they will install a non-taperer in Ben's stead.
That is exactly what it is, sooner rather than later.
He may even resign in advance, let's say august, due 'health issues' which is not far from the truth, seeing how he shakes when interviewed.
Nobody cares about Bernanke.
I disagree. The Bernank has done a good job carrying the water for them. They will either give a reason for markets to fall apart like a false flag or they will pin it on the next guy. The Bernank will be rewarded for his service to TPTB.
Generations of Bernankes will be rewarded for his service to TPTB.
The financial PTB are getting a bit hysterical. I think they are feeling a little pressure from PM delivery demands. God knows what derivatives are at risk behind the PM prices.
it's all about swap losses.
Which swaps are you thinking of?
In other words "We need to off load some soon to be rapidly depreciating equities and bonds, so load up muppets while we top tick."
Correct.
Goldman: muppets being set up for the transrectal cardiectomy.
+1 for technical jargon.
The Japanese currency move is hitting US Ts. Ben can't like this, but he dares not criticize them.
really the japanese currency move is hitting US T"?
So I have not been wrong?
Nice revelation.
Man, it's going to be funny when stocks AND bonds crash. I guess when two gigantic asset classes are traditionally negatively correlated, and you engage in a scheme to pump both up, there will be natural consequences.
..."Bernanke reiterated an argument which he has made in the past, that raising interest rates prematurely could choke off the recovery, ultimately resulting in a longer period of low interest rates."
Complete lies....the Bernanke is forbidden by his zionism to charge his fellow zionists interest. Period!
Choking off what recovery?
The 10 year is starting to wake up. Bill Gross better do his doody and buy it so he can get back in the Bernank's good graces.
"Our view is Jawboning is on, in an attempt to temper bubbles we and our accomplice Ben have created, in lieu of a bond market stampede."
Fixed it.
Correct.
They need the bubble to make any money. There is no other way to make money now except via speculative bubbles, which they create themselves, but they can create them only so long as there are willing playerz with mad money and no hope except to "go 4 it!" Complicating things, the sheep are nearly shorn now so they need to extend the bubble waaaaay beyond its usual lifespan because this is likely the last bubble for a while. Like, maybe for a few hundred years.
we taper down on the expectations of tapering, the fact we are discussing tapering should be enough to remind you that we'll always be there to backstop the market, tapering or no tapering
Gs says, "Don't worry guys keep buying the dip.. we promise we'll warn you when it's time to get out.
Is Goldman just changing their mind ever 5 minutes so they can claim they called it when the something happens either way?
December....what year?