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FOMC Hints No Taper Despite More Optimistic Forecast, Bullard Is Second Dissenter - Redline Comparison

Tyler Durden's picture





 

The much-anticipated statement of the most powerful body in the world is upon us -

  • FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYING
  • FED SAYS LABOR MARKET SHOWS `FURTHER IMPROVEMENT'
  • FIFTEEN OF 19 FOMC OFFICIALS SEE FIRST RATE RISE AFTER 2014
  • FED SAYS DOWNSIDE RISKS DIMINISHED SINCE AUTUMN
  • BULLARD, GEORGE DISSENT FROM FOMC STATEMENT

Ding Ding: we now have a new dissenter in addition to Esther George: James Bullard. And - as usual - there's a little in there for everyone aside from the fact that the rose-colored glasses view on the economy suggests that they will be, in factm, tapering at some point soon, which the market is not very happy with right now...

Pre-FOMC: S&P 500 Futs 1645, 10Y 2.21%, USDJPY 95.25, Gold $1375, Oil $98.50

May-to-June Redline comparison

 


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Wed, 06/19/2013 - 14:03 | Link to Comment King_of_simpletons
King_of_simpletons's picture

Expected outcome. The Federal Reserve is clueless.

Wed, 06/19/2013 - 14:04 | Link to Comment insanelysane
insanelysane's picture

Lying and laughing all the way to the bank.

Wed, 06/19/2013 - 14:07 | Link to Comment Stoploss
Stoploss's picture

**FED** "UHHhhhhhh"

LOL!!  Taper!

Wed, 06/19/2013 - 14:07 | Link to Comment NewThor
NewThor's picture

What is it about QE4EVER that people don't understand?

 

QE4EVER means Quantitative Easing Forever.

Wed, 06/19/2013 - 14:09 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Yet the precious still gets smashed, LOL:

Live Gold: http://www.pmbull.com/gold-price/

Live Silver: http://www.pmbull.com/silver-price/

Buy it up, before the dealers crank the premiums back up!

Wed, 06/19/2013 - 14:12 | Link to Comment Say What Again
Say What Again's picture

Question of the day, month, & year...

Ben, what are you so afraid of?

Wed, 06/19/2013 - 14:35 | Link to Comment Big Slick
Big Slick's picture

“Household spending advanced”

They’re not kidding… I know that our household has had to spend money to replace the boat that was lost... in the accident.

 

Wed, 06/19/2013 - 14:12 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Was that dip down just a head-fake? Look at it turn around now. How predictable.

Wed, 06/19/2013 - 14:17 | Link to Comment Stoploss
Stoploss's picture

As long as the word "increase" follows the word prepared, in any sentence, is all you need to see to verify no end in sight..

Wed, 06/19/2013 - 14:12 | Link to Comment knukles
knukles's picture

Ah hah!
The aggregate collective AAARRRRAGHHHHH!

 

Nothing is rallying, not a goddamned thing
Fucking way to go, Ben!

So what's the message?
The economy is falling apart, crisis mode maintained, fucking dismal crapola all around.

Let's have a panic.  Hows about a good olde fashioned panic?
Sounds good to me!
Hows about nobody has a fucking clue?
Hows about we're still in a Liquidity Trap?
Hows about there is no final demand, the world is weakening, monetary stimulus is gonna stay strong....
What the fuck else is new?

 

Nothing Has Changed....

Wed, 06/19/2013 - 14:07 | Link to Comment FL_Conservative
FL_Conservative's picture

Would love for a chance to beat the piss and snot out of the chairsatan.  I hate that fucker.  Did you get that NSA??

Wed, 06/19/2013 - 14:08 | Link to Comment kralizec
kralizec's picture

Anybody knock at the door?

Remember, shoot first, worry later.

Wed, 06/19/2013 - 14:10 | Link to Comment FL_Conservative
FL_Conservative's picture

Not yet.  But I'm sure there's a drone fixed on my 20, if I looked out the window.

Wed, 06/19/2013 - 14:14 | Link to Comment knukles
knukles's picture

Just make sure you use a Joey the Plugs approved break action 12 guage.

Wed, 06/19/2013 - 14:10 | Link to Comment Mr. Poon
Mr. Poon's picture

You'd just be validating him.  If he gets attacked by unstable people who read Zero Hedge, he'd figure he must have been doing something right.

A much better and more fitting approach?  Forget him.  Leave him to join Greenspan, wandering around the back corridors of Washington as a has-been, desperately hoping - in vain - to get invited back onto a television show so he can explain how misunderstood he was, and how everything that went wrong wasn't really his fault.

Wed, 06/19/2013 - 14:15 | Link to Comment knukles
knukles's picture

Dude, that's mean

 

giggling like little girl

Wed, 06/19/2013 - 14:23 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

"If he gets attacked by unstable people who read Zero Hedge"

Please put "unstable people" in quotes... or I will hunt you down!

;-)

Wed, 06/19/2013 - 14:05 | Link to Comment nope-1004
nope-1004's picture

The large financial institutions are insolvent and Treasury purchases have been dropping off by foreigners.  Someone needs to keep this ponzi going.  TAPER was all bullshit, and will continue to be.

 

Wed, 06/19/2013 - 14:19 | Link to Comment yogibear
yogibear's picture

Yellen, Resegren. Evans and Dudley are all max money printers.

All following Japan down the rat hole.

Wed, 06/19/2013 - 14:06 | Link to Comment unwashedmass
unwashedmass's picture

well they don't eat or drive cars. or heat their houses. 

Wed, 06/19/2013 - 14:06 | Link to Comment icanhasbailout
icanhasbailout's picture

Told ya so. Whatever it takes to keep the presses printing.

Wed, 06/19/2013 - 14:07 | Link to Comment Mr. Poon
Mr. Poon's picture

That vertical line in my charting software at 2 p.m. doesn't exactly spell out "expected outcome".

Wed, 06/19/2013 - 14:16 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

"The Federal Reserve is clueless."

No, they're helpless. Like The Three Stooges, they've painted themselves into a corner, built themselves into a room with no door. All because of the many times proven to be horribly inaccurate economic theory and model they cling to.

Wed, 06/19/2013 - 14:17 | Link to Comment Rathmullan
Rathmullan's picture

And worse, the chairman is an irresponsible coward - just like his predecessor. The message (and the policy) will always be fashioned in a way to avoiding roiling the market, with extreme prejudice given to avoid roiling to the downside. 

Wed, 06/19/2013 - 14:44 | Link to Comment Colonel Jessup
Colonel Jessup's picture

The Fed is neither clueless nor incompetent - this is going exactly per plan. This is about the desctuction of the dollar, and the US itself. That is the end game, and there can't be much doubt about it. Nobody is this stupid or incompetent - everything that is going on now have been planned for many years. It's show time now, and you can almost see The Bernank relishing every mkinute of that announcement.

Wed, 06/19/2013 - 14:03 | Link to Comment Technical Difficulty
Technical Difficulty's picture

No change.

Wed, 06/19/2013 - 14:08 | Link to Comment Non Passaran
Non Passaran's picture

I suppose we're now supposed to divert our attention to other CBs (Japan, China, EU). Somebody do something! We need Draghi to implement negative interest rates or Kuroda to do print .... more.

Wed, 06/19/2013 - 14:04 | Link to Comment Jaspergers
Jaspergers's picture

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson

Wed, 06/19/2013 - 14:04 | Link to Comment JJ McApe
JJ McApe's picture

no taper till world war 3

Wed, 06/19/2013 - 14:04 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

No Taper = SPX sells ... hmmm. Well, for thirty seconds more perhaps ...

Wed, 06/19/2013 - 14:04 | Link to Comment azengrcat
azengrcat's picture

22222222222222222222222222222222222222222222222222222222222222

Wed, 06/19/2013 - 14:05 | Link to Comment ebworthen
ebworthen's picture

Lookout in the Crow's Nest of the Titanic:  "Captain!  There is a gigantic iceberg dead ahead!"

Captain of the Titanic:  "Steady as she goes."

Wed, 06/19/2013 - 14:04 | Link to Comment Cheeseus Sonofdog
Cheeseus Sonofdog's picture

1% inflation year over year? I think they made a typo and meant month over month. That is still understating the stagflation going on...

Wed, 06/19/2013 - 14:10 | Link to Comment Lore
Lore's picture

Labour market shows "further improvement?"  IN WHAT CONTEXT? 

Sure getting tired of the lies.

John Williams puts inflation at 9%.  We're seeing it all over the place.

Wed, 06/19/2013 - 14:05 | Link to Comment Village Smithy
Village Smithy's picture

Mr. Bernanke, what are you afraid of!

 

Wed, 06/19/2013 - 14:07 | Link to Comment saveUSsavers
saveUSsavers's picture

Bernanke= FINANCIAL TERRORIST

Wed, 06/19/2013 - 14:11 | Link to Comment Dr. Engali
Dr. Engali's picture

There can not and will not be a taper. There will only be moar printing until this thing blows up. We haven't seen anything yet. Wait until we are jellin with Yellen she will show the Bernank how a real man prints.

Wed, 06/19/2013 - 14:24 | Link to Comment francis_sawyer
francis_sawyer's picture

I thought we'd agreed upon 'Smellin' like Hellin' Yellen'... [sorry ~ I've been in the fields ~ cuz I get my back into my living]...

~~~

https://www.youtube.com/watch?v=gY5rztWa1TM

Wed, 06/19/2013 - 14:19 | Link to Comment NoDebt
NoDebt's picture

Cue the individual Fed-Heads to hit the airwaves and jawbone about tapering the next couple weeks.  They'll talk about it to keep the "speculators" from going hog-wild (as if they haven't already) but they won't actually do it.

That's been my position on this and I'm sticking by it.

Wed, 06/19/2013 - 18:28 | Link to Comment nightshiftsucks
nightshiftsucks's picture

And then she is going to show him how to fuck like a man

Wed, 06/19/2013 - 14:06 | Link to Comment fuu
Wed, 06/19/2013 - 14:22 | Link to Comment francis_sawyer
francis_sawyer's picture

10th Avenue ~ Freeze Out

~~~

https://www.youtube.com/watch?v=9qbTSENLK_o

Wed, 06/19/2013 - 14:27 | Link to Comment fuu
fuu's picture

Dude, off the fucking piano. Now.

Wed, 06/19/2013 - 14:47 | Link to Comment francis_sawyer
francis_sawyer's picture

Careful what you wish for... bcuz at any given moment ~ one may opt for the hour long moog synth...

~~~

https://www.youtube.com/watch?v=IAISUDbjXj0

'808 State bitchez!'

Wed, 06/19/2013 - 14:56 | Link to Comment fuu
fuu's picture

I always knew you were an asshole francis.

Papau New Guinea.

Wed, 06/19/2013 - 15:16 | Link to Comment francis_sawyer
francis_sawyer's picture

What can I say?... I live by the river...

~~~

https://www.youtube.com/watch?v=4vHvzybkqfo

But then again... If ur into 'mashups'... You could get ricROLLED by the RIVER...

http://www.youtube.com/watch?v=hzQnPz6TpGc

~~~

...& mostly what I have to say is... [unlike 'Wall St.']...

"If you come down to the river
I bet you gonna find some people who live
You don't have to worry if you got no money
People on the river are happy to give"

Wed, 06/19/2013 - 15:19 | Link to Comment fuu
fuu's picture

This one is for Ben and all his bitchez: https://www.youtube.com/watch?v=hxsYrfKf_pc

Wed, 06/19/2013 - 18:12 | Link to Comment francis_sawyer
francis_sawyer's picture

When I think of 'Ben & all his bitchez'... all I can think of this...

~~~

http://www.youtube.com/watch?v=0UWU2X7fk_8

Wed, 06/19/2013 - 18:21 | Link to Comment fuu
fuu's picture

"Fighting for the Federation!"

http://www.youtube.com/watch?v=1wwilCs4Jqg

Wed, 06/19/2013 - 18:36 | Link to Comment francis_sawyer
francis_sawyer's picture

Not to become a 'FUU FIGHTER' or anything... But f_s did, actually, spend some 'non-QUALITY' time in the biDness...

~~~

I'm the GUY BEHIND the GUY... But here were my 'creations' back in the day... [can't say I'm totally proud, it was what it was ~ but it was fun while it lasted]...

~~~

Sweet Sensation
http://www.youtube.com/watch?v=QzyyJZktM9c

expose
http://www.youtube.com/watch?v=A77vlnXoP64

[the '2nd' most nervous f_s has ever been... but it got validated]...

 

Wed, 06/19/2013 - 18:51 | Link to Comment fuu
fuu's picture

That break bassline in "Sweet Sensation" is awesome.

Expose reminds me of: http://www.youtube.com/watch?v=hcjolqpKR4g

You wrote, engineered, mixed?

 

Wed, 06/19/2013 - 20:17 | Link to Comment francis_sawyer
francis_sawyer's picture

No... HAHAHAHAHAH... [This is gonna b hard 4u to fucking believe... But I was a 'talent scout'...]...

~~~

Here's the dish... [glad we're on a wilted thread ~ otherwise I'd lose my QUINTUS ARIUS 5 personna]...

EXPOSE

My 'time' with them was only the part from "5:50 on"... '"seasons CHANGE, as it turns out, with them"... [but I think I got their best]...

SWEET SENSATION

I swear they were my favorite... This sounds GAY [which I'm not]... But I worked on their dance moves... [Jeez ~ I haven't talked to Betty in more than 20 years but I'd love to see her again]...

& here's the UN~NOMINATED [probably the closet FAME of my life [THANKFULLY]...

MADONNA ~ WHO'S THAT GIRL TOUR

- I had so much of a hand in this it isn't funny... From the moving sidewalks, to the dance moves, to the costumes... All to accomodate a MADONNA [who had no fucking lungs, & wasn't 'fit' enuf to do in the first place... That fucking bitch owes her fitness to f_s... [I present this because these 12 minutes earned f_s 12 years of delectable income in ITALIA]...

http://www.youtube.com/watch?v=S-OZTq3lmLs

...all [moves] f_s... top 2 bottom... [most 2 save oxygen]... I'd ask the bitch 2 pay ~ but she turned out to be a "Luciferian cheesepope"... So fuk that bitch... If u like piano soloistz... Go ask 'Chilly'...

 

Wed, 06/19/2013 - 21:12 | Link to Comment fuu
fuu's picture

http://www.youtube.com/watch?v=pspmBbbOHh8

"Freaks are having a freak-a-thon"

 

Wed, 06/19/2013 - 14:05 | Link to Comment hankwil74
hankwil74's picture

The Fed didn't raise rates or taper OR the Fed can't raise rates or taper?

Wed, 06/19/2013 - 14:16 | Link to Comment NoDebt
NoDebt's picture

It's academic since they won't try.

Wed, 06/19/2013 - 14:05 | Link to Comment kralizec
kralizec's picture

Pop another pill, all is well - Uncle Bennie

Wed, 06/19/2013 - 14:07 | Link to Comment GolfHatesMe
GolfHatesMe's picture

He'd better be eating those Beta blockers like tic-tacs before the Q&A

Wed, 06/19/2013 - 14:11 | Link to Comment kralizec
kralizec's picture

Screw that, pump him full of adrenaline, then have at 'em.  ;)

Wed, 06/19/2013 - 14:06 | Link to Comment Seasmoke
Seasmoke's picture

Doing what they do best. Nothing.

Wed, 06/19/2013 - 14:07 | Link to Comment fonzannoon
fonzannoon's picture

10yr at 2.25%

Thats a pretty nice fuck u bernanke.

Get mad bond traders. Wake up you dumb fucks.

edit 2.27%

Wed, 06/19/2013 - 14:06 | Link to Comment Devotional
Devotional's picture

GOLD takedown happening.

Wed, 06/19/2013 - 14:09 | Link to Comment LawsofPhysics
LawsofPhysics's picture

paper GOLD takedown happening.  - fixed.

Wed, 06/19/2013 - 14:12 | Link to Comment fonzannoon
fonzannoon's picture

the irony is treasuries are selling off because of the feds bullish stance regarding the downside risks to the economy have diminished.

It's morning in america bitches. Belive them. They like...really want you to.

Wed, 06/19/2013 - 14:07 | Link to Comment PontifexMaximus
PontifexMaximus's picture

Bullish

Wed, 06/19/2013 - 14:07 | Link to Comment CrankItTo11
CrankItTo11's picture

So why are stocks edging down?

Wed, 06/19/2013 - 14:13 | Link to Comment syntaxterror
syntaxterror's picture

Just waiting on the daily $3 billion POMO to be levered up to $90 billion and then fed into buying futures...

Wed, 06/19/2013 - 14:14 | Link to Comment CrankItTo11
CrankItTo11's picture

Must be that good news (economy "improving") is soon to be bad news for the stimulus-addicts?

Wed, 06/19/2013 - 14:24 | Link to Comment ejmoosa
ejmoosa's picture

...because you cannot fix stupid.

Wed, 06/19/2013 - 14:08 | Link to Comment cabtrom
cabtrom's picture

Bernagger Beast!

Wed, 06/19/2013 - 14:07 | Link to Comment CHX
CHX's picture

FOC' M'

Wed, 06/19/2013 - 14:08 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Tick tock motherfuckers...

http://www.marketwatch.com/investing/bond/10_year

Fed promises moar paper promises to come,

paper promises being dumped < shocker >

Wed, 06/19/2013 - 14:08 | Link to Comment yogibear
yogibear's picture

Lol, no surprise!

First Japan blows and some time later the US blows.

 

Wed, 06/19/2013 - 14:09 | Link to Comment Devotional
Devotional's picture

print until you burrrrrrn every freakin tree!!!!

Wed, 06/19/2013 - 14:09 | Link to Comment Reptil
Reptil's picture

gold smackdown in progress LOL
whaddayaknow SURPRISE >not<

Wed, 06/19/2013 - 14:10 | Link to Comment pragmatic hobo
pragmatic hobo's picture

look at VXX get trashed ...

Wed, 06/19/2013 - 14:10 | Link to Comment trillion_dollar...
trillion_dollar_deficit's picture

QE4EVAMF

Quantitative Easing Forever Mother Fuckers

Wed, 06/19/2013 - 14:10 | Link to Comment AldoHux_IV
AldoHux_IV's picture

LOL ZH is a NSA tracked site (not that it surprises me)

Wed, 06/19/2013 - 14:13 | Link to Comment Headbanger
Headbanger's picture

Sing along now... Who can it be knocking at my door..

http://www.dailymotion.com/video/x234k_men-at-work-who-can-it-be-now_music

Wed, 06/19/2013 - 14:11 | Link to Comment Headbanger
Headbanger's picture

Translation:  "Trust me, I know what I'm doing and I promise I won't taper." 

HAHAHAHAHA!!!

Wed, 06/19/2013 - 14:11 | Link to Comment Zombie Investor
Zombie Investor's picture

Santelli's rant was perfect for the announcement (everything is great, but we're keeping QE going full bore).  Did someone leak it to him?  JK

Wed, 06/19/2013 - 14:13 | Link to Comment GMadScientist
GMadScientist's picture

No taper...full steamer ahead!

Wed, 06/19/2013 - 14:15 | Link to Comment calgal
calgal's picture

 

see pig above

Wed, 06/19/2013 - 14:15 | Link to Comment calgal
calgal's picture

 

A tapir (/?te?p?r/ TAY-p?r or /t??p??r/ t?-PEER) is a large browsing mammal, similar in shape to a pig, with a short, prehensile snout. Tapirs inhabit jungle and forest regions of South America, Central America, and Southeast Asia. The four species of tapirs are: the Brazilian tapir, the Malayan tapir, Baird's tapir and the mountain tapir. All four are classified as endangered or vulnerable. Their closest relatives are the other odd-toed ungulates, including horses and rhinoceroses.

http://en.wikipedia.org/wiki/Tapir

Wed, 06/19/2013 - 14:16 | Link to Comment syntaxterror
syntaxterror's picture

Just like Japan, interest rates will be 0.0000% 10 or 15 years from now.

Wed, 06/19/2013 - 14:21 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Kyle Bass predicts, and I agree, that after Japan collapses, US rates will go negative in the flight to temporary safety.  Any really bad news in the EU will do the same.

Wed, 06/19/2013 - 15:25 | Link to Comment object_orient
object_orient's picture

I hope so. Then I'll get a HELOC and buy moar stawks.

Wed, 06/19/2013 - 14:15 | Link to Comment SheepDog-One
SheepDog-One's picture

ALL IS WELLLLLLL!!!

Wed, 06/19/2013 - 14:16 | Link to Comment Yen Cross
Yen Cross's picture

     Is anyone surprised? Crickets...

Wed, 06/19/2013 - 14:18 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

In the end GDP growth tells the tale.

He's south of 2%, WITH QE.  How can he withdraw it and go negative?

Wed, 06/19/2013 - 14:22 | Link to Comment trillion_dollar...
trillion_dollar_deficit's picture

In real terms its already negative.

Wed, 06/19/2013 - 14:18 | Link to Comment SheepDog-One
SheepDog-One's picture

OMG the markets must HATE this! S&P down -1? WTF it's horrible! Someone hold me!

Wed, 06/19/2013 - 14:18 | Link to Comment shutupnsing
shutupnsing's picture

What Toilet Taper? by "Don't squeeze the CharBen"!

Wed, 06/19/2013 - 14:18 | Link to Comment Big Ben
Big Ben's picture

So after all those hints and rumors, the Fed does nothing? Bernanke to Mr. Market: "Ha! Ha! Faked you out that time."

Party on until September! And how much tapering do you think is going to take place once Yellen takes over?

Wed, 06/19/2013 - 14:24 | Link to Comment yogibear
yogibear's picture

" how much tapering do you think is going to take place once Yellen takes over?"

A BIG 0. 

Her PhD is in currency debasement and print-Obama-nomics.


Wed, 06/19/2013 - 14:22 | Link to Comment youngman
youngman's picture

The hype up to this announcement shows me they are losing the all importnant "FAITH".....you can´t keep saying everything is great...but never get out of crisis mode...something stinks here...and the people are starting to smell it too...

Wed, 06/19/2013 - 14:22 | Link to Comment BurningBetty
BurningBetty's picture

Lol, what a bunch of ballonies..

Yes sir, the markets are going great, the future looks bright and employment is on the rise. Though, we still need more funny-money in the economy.  

Wed, 06/19/2013 - 14:24 | Link to Comment orangegeek
orangegeek's picture

What's the POMO schedule for July?

Just trying to work ahead on my technical analysis.

Wed, 06/19/2013 - 14:24 | Link to Comment Yen Cross
Yen Cross's picture

     Squeaky Bill Gross on CNBS, looks like he needs a glass of water. It's ok Bill, Chairsatan still has your back.

Wed, 06/19/2013 - 14:26 | Link to Comment thismarketisrigged
thismarketisrigged's picture

2.28 on 10 year

Wed, 06/19/2013 - 14:27 | Link to Comment Satan
Satan's picture

85B is starting to look a little light...

Wed, 06/19/2013 - 14:49 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Exactly.  Their GDP projection for 2013 has weakened.

Wed, 06/19/2013 - 14:27 | Link to Comment thismarketisrigged
thismarketisrigged's picture

how the fuck do they have the nerve to tell us the economy is doing better? better compared to fucking what? the great depression? im not even sure we can say that.

 

tell the 48 million on food stamps that the economy is doing better.

 

fuck u fed

Wed, 06/19/2013 - 14:48 | Link to Comment BurningBetty
BurningBetty's picture

Damn markets...make up your DAMN mind. First, no one wanted to take the SPX much above 1652 before FOMC-meeting. Now that the news is out, they still don't know which direction to go. Well? What's it going to be??

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