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Euphoria Cracks As Ben Drops Hint Of Tapering After All
MOAR Orderly... oops... Bernanke: "Fed could reduce bond purchases in the next few meetings if data supports it" and perhaps most disturbing is that reality is finally seeping into the corner offices of the Marriner Eccles building when Bernanke says that concerns about "frothiness" and "bubbles" has increased? Was it the sub-5% yield in high yield that tipped them off?
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NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!
lol
This is insane. The markets cannot function like this. BB STFU!
It's amazing how powerful this idiot's (benny boy) senseless jibbering is in the algos' eyes!
he's like Lucy on a powertrip with the football and the PM markets are charlie brown.
the bernank's crib notes on his forearm:
9:56 say something bullish
10:07 say something bearish...
pathetic!
WB7... fucking priceless
William,
I don't know why(!), but I found that hilarious!
DavidC
LOL
... like a candle in the wind.
He thinks moar printing helps the econ when in fact it's killing it.
He thinks moar printing is lowering unemployment when all the BLS does is lower the denominator.
Not one politician will say a word cuz they know Benny butters their muffin.
We are so screwed.
BernanQE (copyright Cursive) thinks neither of those.
He may play dumb, but he knows exactly what the purpose of QE is.
I agree we are screwed, but we have been screwed since the first fractional reserve dolla was loaned into existence.
pods
Gotta spell it out for me.
Is the purpose:to increase the money supply and exchange new money for real goods and services?
Isnt it obvious?
Say we have 100M families all posessing $1k each, and that $100 BILLION in net wealth was thus fairly evenly distributed.
But we give 100% control of the money supply to a group of bankers who promise that they can keep the money value fairly stable and then begin to manufacture more $ each year.
As those increased number of $ compete against each other in the market place, we get inflation, and the net value of each $ goes down. But a modest exapnsion that keeps inflation below 2% or so is something that most are willing to put up with if the overall stability is acheived.
Now let us suppose that this group starts to print an insane amount of $ and distributes it first to their friends and each other. Then after twenty years or so, this bankers hold $100 Billion while the rest of the country still has an aggregate total of $100 Billion.
The bankers would have silently stolen half the purchasing power of the stored wealth of the rest of the country.
Now lets also suppose that these bankers also create bubbles in over valued commodites that they get the general public to invest $75 Billion of their $100 billion total wealth, and then these bankers signal their friends to exit the bubble, then pop iit.
Wallah! We have the bankers controling $175 Billion while the rest of the country fights over a meager $25 billion among them all.
But I dont believe this scenario. I think the bankers are going to create a crisis and use some stooge to run for President who will promise everyone that he will fix the big problems, while he actually uses the power of the government to simply seize peoples assets and give them to his friends. The rest of the public is going to be left with about $0 total and wards of the state Welfare system.
Yeah, I think they will confiscate too. They're getting ballsy after noone's punched them in the nose in a long while.
I dont want to punch the crooks; I want to see them shot in the back of the head.
The only good thing about this is I think BB should do a few more of these switch-a-roos to fuck with the algo's and eventually he will go down in flames. Hopefully all the "believers" in Keynseism (sp) will suddenly see the emperor is naked.
Oops!
This fucker was buying time for his cronies to exit during the morning ramp....this guy should be impeached or better yet hanged.
You can't impeach or hang a central banker. It might scare off other ideologically impaired useful idiots from applying for the job.
This is just a pure reflection of the American people. We got Weiner running for office and the craziest, clueless motherfucker in history in charge of monetary policy and we are hanging off his every word?
Run. Don't walk. Run as fast as you fucking can away from this train wreck.
Fonz,
Where do we run to?
I had almost figured out where Hedgeless Horseman's farm was when he disappeared. Now my fucking GPS just keeps saying "recalculating".
I will let you know as soon as I know. I'd start with the grocery store. This ends in inflation. We all know it.
HH disappeared??? Dont tell me he got droned?
My GPS just keeps saying PRINTING
I think he bailed voluntarily.
If you guys were wondering why gold is dropping it's because it's your fault.
http://finance.yahoo.com/news/gold-rallied-years-misunderstanding-021935344.html
That poor new guy working at the JPM vault must be exhausted today.
+1 for Admiral-Ackbar-esque callout from Fonz - "it's a trap!"- on previous thread.
Commenting on that article drop, nice unintentional metaphor by the author himself for QE ... "money that hasn't been born yet" ... which means that without labor you have a stillbirth or abortion. Meanwhile, TPTB milks the hormone-swollen host economy. Christ, this is economic vampirism in a demonic sense. It takes poetry to describe reality, and people don't realize that they are moving in metaphors.
There is no inflation, otherwise the QE music would stop
/sarc
Hey Fonz, how do algo's run? I don't think I have an answer for that one. I only know how they eat. One byte at a time.
Run straight to Bozeman MT, we're as armed and prepared here as it can get, unless you have a better idea I'm all for it
bozeman Mt ^
It's duck season
It's Wabbit season
Its duck season
its wabbit season
Its banker season
its banker season
yep, piano wire.
While I just made money, all I can say is "WHAT A FUCKING ASSHOLE"......
On second thought if congress really wanted to be useful, the could legalize the ass rape of any senior federal reserve official by anyone who is reliant (or should be reliant) on fixed income investments. If it's good for the goose right?
And it's........gone. Wow.
The vomit comet.
<The summer sensation at the new and improved PonziLand theme park.>
Somehow, got to pump the market to get the old folks to retire, get taken out of the jobs statistics and make room for the unemployed beer pong champions.
LMFAO....what a joke.
Holy mother, if this was testing market reaction then Ben has a clear answer, check out the yen dollar cross as well
Blue horseshoe loves Anacott steal.....er....steel.
that hearing is one big circle jerk
...but with how many billions of wealth transfer on the lovely round trip?
they try to conjure volatility any way they can.
hint - up
hint - down
buffett, dimon, and blankfein know what will happen that's for sure
Gratz to the Algo programmers who broke the "printed word" search routines to the "spoken word". Next barrier for the algo routines is to what Bernanke is thinking.... Will the programmers be able to break into the Architect's mind with the proper key maker?
/...whitespace.../...whitespace.../...whitespace.../...
That was a 13 bps spike in the 10yr yield in minutes.
Can you imagina how much they will spike if they actually DO someting to slow down QE.
So I guess this means the data is going to get more ridiculous.
THIS IS A TEST OF THE EMERGENCY HFT ALGO SYSTEM. THIS IS ONLY A TEST.
Free markets. Right!. Fucking insane.
Exactly. The same "free" market with an 85 billion dollar-per-month fucking bid under it. Fucking joke.
Ben just wanted some reassurance that what he says does not effect the markets.
PING<=======================>PONG
Free markets they are not. Long since corrupted from the top down. Absolutely and without exception.
In fact the only way it all makes sense is if those orchastrating the markets in here are in fact Thieves. Making and changing the rules midstream, thereby stealing from the average citizen's of the world (who are time and again told that everything is on the up and up) so that they do not get caught left holding the (empty) bag when this machine (which they largely created) finally breaks down. And when it does break down they will hit the reset button, having already aligned their pieces in place to take advantage of the new chess board. And then it will begin once again, in an almost virtuous cycle (for those at the top that is).
This has been happening throughout history.
This time is no different.
50+ years of scaring people about deflation and inflating all the time. Will people ever learn?
Very handy, recapitalizing big banks; taper on/off.
Ladies & gentlemen: the speaker of the Matrix!!
what a fucking joke indeed.
Everytime they mention "tapering" or whatever.....it is meant to drive a small sell off that their institutional buddies (and their algos) can munipulate to grab assets at more favorable prices.
They will never stop printing. They can't.
What’s so obvious from this shit is that there isn’t a single thing anyone else can say, think, or do in the financial industry that even comes close to having an impact on markets like this. Whatever you are paying for that pinstriped suit your financial services provider is wearing, it’s aat least 10,000 times too much.
Dropped mine, will never use one again. They have been made irrelevant by QE.
More Jawboning. The Fed won't curtail. It can't.
Obama spaends more and the Fed prints more to buy the US debt.
Gold and silver at low of the day. Good doublespeak, Mr Chairman.
He really had to lay a hurtin' on all those Gold buyers today.....and damn it was like a fucking work of art. Ouch! This will be hard for Dimon to top. I'll bet he is jealous.
It would be so funny if such a hearing were to take place on the 1st of April, and Benny says;
"the Fed is going to substantially reduce its balance sheet, we are ending all asset-purchase programs, we are ending all emergency loans to homeland and foreign banks, we are seeking to appreciate the dollar 3000% to ward off the threat of hyperinflation and we will be working with the government to severely regulate ETFs."
And by the time he has finished saying all of that the market has dropped 1200 points, the circuit triggers activate to stop total cardiac arrest and then-
"April Fools!"
One can only dream...
Can't stop, Won't stop.
To infinity and Beeeeyyyyooooonnnnnnnnnnnndddddddddddd!!!!!!!!!!!!!!
this is starting to look like a game of "simon says".
When heroin addicts try to kick it they say they will taper off but after a few days they give in and say they will not use the taper method and that they will go in for treatment which means they will get hooked on methadone for a year and then go back to heroin.
I've seen it before. I know a loser when I see one. They need to lock that deviate Bernanke up before he damages everybody with his self will run riot through escapades of incomprehensible demoralization..
up down up down moar less moar less
when it ends nobody knows
If they could just stomp gold and silver down under a buck, I have a cup full of change on my desk that I can use to buy more PM.
This is INSANE !!!!!!
no, it's an insane fucking joke
Anybody who has any longs at these nosebleed levels must have blacked out!
It's the Tapering Hokey Cokey!
All together now, "You put your left leg in, you put your left leg out...."
I didn't even finish reading that gold was 1414, Before I read its 1375 !!!!!
Wait another 10 minutes. Might be at 1510.
weeeeeeeeeeeeeeeee
Unloaded my calls just in time.
Fuck you Bernanke you reprobate.
i wish this asshole would just STFU. this is just free money for the JPM and Goldman prop trading desks.
And that is exactly WHY he wont STFU
Did anybody else hear him say that they need to reduce the balance sheet from 4 trillion to a more reasonable 25 billion?
Who is this douche-nozzle kidding?
...could"
..."if"......
.......Too fucking funny.....
Get back to work sheeple.
We are totally fucked......
The markets are going to have a tough time going up with the $ this strong. Puts huge pressure on corp. profits and exports.
You delve too deeply into the world of reality.
They can't stop unless there is massive banking and government reform. That will not happen. It is that simple.
......just ask yourself, what is Ben really going to do?
We all know the answer to that.
Whoever really wrote that speech just made a fortune.
BERNANKE'S BUBBLE:
http://2.bp.blogspot.com/-TtARcmxZzN4/UZzX_G29YzI/AAAAAAAAOtA/zxoHDpUuwu...
Here we go 'round the mulberry bush,
The market chased the weasel.
The weasel thought it was all in fun,
Pop! Goes the market.
nth verse, same as the first.
"Euphoria Cracks As Ben Drops Hint Of Tapering After All"
Here let me help.....
Crack Euphoria Tapers as Ben Drops Hint
of course the markets after the brief sell off from the highs go right back up.
and of course gold is hammered down again.
fuck this crap
How about someone ask the liar how he can do this when there are no buyers for our debt.
duh... the fed's buying it
Market movements like the ones we have had here in the last hour based on the hints of one man is not a healthy market.
For someone connected does or did Japan truly have deflation in the recent two decades? If they did from two crashed bubbles (Tokyo RE and Nikkea) then it would seem possible here. ie fractional reserve in reverse. Banks here could be essentially bankrupt and being bailed out surreptitiously by the Fed. Slowly, gradually getting back positive. The Fed has no downside, they make up money so even if they get hurt on their "investments", any return on zero is a gain.
I question myself whenever it's too obvious although I cannot truly believe this ends any way other than increasingly increasing inflation rates.
"Major market participants"? Bunch of silly reflexive lemmings...so utterly predictable and so utterly devoid of VISION.
They are, as usual, focused SOLELY on "paper dollar yield"and will prostitute themselves for it.
Bernanke is giving the country a proper tapiring all right. The reason that America is so vulnerable to this and why the present tapiring will proceed much farther than previous historical examples in Europe is because the average American has little no experience of the tapirs and their activities.
wow.. didn't expect to see a selloff in bonds too. if benny ever has to end qe gold and silver are gonna get really fukin cheap.
LOL!
The DATA will never support it. QE is the market and the market is QE. It's like saying if you walk away from a mirror the reflection will still be there. The markets are an illusion the QE is the substance.