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Stocks, BIlls Tumble, Gold Soars After Senate Suspends Negotiations, Feinstein Says Budget Talks "Fall Apart"
It would appear the sad reality priced into T-Bills and USA CDS is starting to creep into stocks...
- U.S. SENATE FISCAL NEGOTIATIONS SUSPENDED UNTIL HOUSE REPUBLICANS WORK OUT PLAN TO PROCEED ON DEBT LIMIT, GOVT FUNDING-SEN. DURBIN
- SEN. FEINSTEIN SAYS `IT'S ALL FALLEN APART' ON BUDGET TALKS
Bills are being sold (bonds now snapping lower in yield), the USD and stocks are offered (at lows of the day) and gold and silver are well bid (at highs of day).
Stocks collapsing to wher VIX has been signaling... whocouldanode?
and stocks have way to go to meet Bills...
Charts: Bloomberg
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wait a minute.
how can this NOT be Bullish?
Is there a new paradigm?
This is a big fat charade. Just wait and see. Gold isn't even pushing through 1300. This whole BS is a smoke screen for massive endless Yellen QE, and a set up for what is now two years of presidential election propaganda. They will slam gold hard once these Bozos reach an eleventh hour deal. What a farce!
And the fucking bankers are riding these peaks and troughs like a money rollercoaster. After all, they know exactly where the track is headed before anyone else does. If there were any enforcement of existing laws, I'll bet one could easily find massive trading positions entered like clockwork before each major shift in "news."
Great kabuki theater!!!
Bravo!!!
A "grand" deal will be worked out with minutes to spare, saving the world!!!
Hank "tanks in the streets & martial law 'n shit" Paulson is helping to write this script, clearly.
There will be several fits and starts, but ultimately a deal is getting done. The goverment must spend and the Fed must print:
http://dareconomics.wordpress.com/2013/10/15/around-the-globe-10-15-2013/
And every minute they fail to agree on a forward path for dollar dilution it becomes clearer that the dollar is overvalued RIGHT NOW.
my bullion is just fine and my cash is on the sideline watching the manipulations. go tigers
Probably make a few people feel better after the heart attack inducing morning gold trades.
Indeed. Manipulation is so beyond sickening... Last week, DOW rose 500 points on a completely unfounded rumor, and now that the world is supposed to be shitting bricks as the fatal deadline looms, DOW makes a big "tumble" of 80 points. Yeah... right! Fuck them all... they're so full of shit, it's un-fucking-believable!
Call me when it does 200 in a day that isn't make up work. That will be a spike.
Reserve "gold soars" headline for when it's making new highs.
If the PPT wasn't around gold would be up 20% and stocks down 10%....this is no fun with spy down 0.5
Come on wtf!
Yes, Tyler and ZH do us all a disservice proclaiming such bullshit headlines.
In 2008-2009, Hank "I Am A Bald Phukkin' Headed Criminal" Paulson single-handedly induced 700 to 900 point drops on the Dow and 100 point single day drops in the spooz.
He's a brilliant actor.
Stop worrying....The assholes will come up with a plan that kicks the can farther down the road. It's all Bullshit!!!
Obama: "This time's different. I think they (complacent Wall Street) should be concerned."
<Thursday Default
<Hail Mary Can Kick Savior
It will be a spft default before the real one. You have to see this like a game. They are only on second base. It's the bunt they worry about.
I guess the BIS will have work to do tomorrow... The gold spike will not be tolerated.
I'm sure the teanuts will come up with another Boehnhead plan to save us all
At least wipe the Obama juice off your mouth before speaking.
puh-leeze
Obama is the most disappointing President in history.
That doesn't change the fact that the teanuts are the most ridiculous, willfully ignorant group of politicians in history.
Why do you refer to Barry as "the most disappointing president in history?"
Probably that hope and change thing. Always hoping for Marx but only getting Stalin.
Reneged on many campaign promises (gitmo, dadt, married himself to Wall St right after taking office, isn't making any real effort to curtail yearly fiscal deficits - the GOP forced his hand with the sequester and we're just now starting to see a bite into the annual deficit)
Well then, you'll get no argument from me!
Whoocoodanode? But, wait, there's bound to be a Hail Mary pass somewhere in here....
Yahtzee!
Actually bonds are trying to rally right now.
BTW, wtf is with quoting Feinstein? What a worthless pile.
She seems like the logical spokestroll for DC sucking to me.
true, she is completely retarded.
When you want to grow edible fungus, you gotta make sure you find the best manure.
Yet Krugman is strangely quite. Has he gagged on something?
Please collect your stock values and transfer them asap into anything but FIAT before disembarking this speeding train.
Tuck and roll.
Look, up in the sky, it's a bird, it's a plane, it's...
the Hindenburg Omen!!!
Yes, it’s Hindenburg Omen, strange visitor from another planet who came to earth with powers and abilities far beyond those of mortal Omens. Hindenburg Omen, who can change the course of mighty rivers, bend Keynesians in his bare hands. And who, disguised as Clark Kent, mild-mannered reporter for a great metropolitan blog, fights a never ending battle for truth, justice and the Scamerican way. And now another exciting episode in the adventures of Hindenburg Omen.
sweeeeeet!!!!!
so, they're going to sting the longs today, reach a last minute resolution on the 17th, then absolutely crucify the shorts on the 18th. rinse and repeat.
But with the caveat that these kinds of things have been known to get out of hand in the past. Betting on what the politicians will ultimately do and the effects of that on the market is like playing craps for your dinner. Just sayin'.
Their plan is to screw everyone....no one is safe here.
Now if Boner would just adjourn the House and go back to Ohio for a few weeks.
Facebook is down 10 cents!!!! I repeat facebook is down 10 cents!!!! I repeat buckwheat has been shot!!!!!!!!
LOL....you are right, you may as well laugh at this stage, nothing much else we can do.
update. facebook now down 25 cents, what is going on here, this is not allowed, such a productive company in the red today.
this can not happen, where is the fed, are they not watching this?
It's up now, all good. funny how the 10yr never budged. not 1 bp.
last minute deal saves the land.....
no need to riot FSA
WS profits up
Dow goes to new highs
Warren Buffett takes another dump on John Q Public
And 3...2....1 until Harry Reid and other congressional sociopaths stacks their bids on their own portfolios and then call a presser to say we are close to a deal. Another 20-30k of easy money in the account. So easy a caveman can do it.
All that acting up on the national stage and they only get a measly 20-30K out of it?
this cant be. i was told how well talks had progressed last thursday, friday, and yesterday.
u mean they were fucking lying to pump the market up? they would never do that.
this is far from a tumble, we should give back all the gains from that fucking bullshit rumors to pump up markets and than another 2000 pts down on dow and 500 on s&p.
market would still be overvalued then, but its a start
Re: market would still be overvalued then, but its a start
On the way past 500 a "deal would be struck".
The middle 19% don't want their 401k's trashed over a Red and Blue Team Kabuki dance.
This is all planned. World Wrestling Federation would be proud.
Yes, but what is the plan?
I just think its a whole different calculus this time. Obama thinks he can destroy the tea party, bring on a crisis and come out looking like the savior. This last hour should be interesting. Don't think the PPT can even save this sucker and maybe the dont want to
QE forever USA the new norm !
Double Post
I am sorry but the market should be doing this regardless of a debt deal or not. Look at the data this entire economy has been and will continue into an even worse state of shambles but one without many more options left to paper over this illusion. In the old days they could point to the money printing accomidative policy and say "Bull Market Unprecedent Run" but that was when homes and wages were increasing and our debt was half of the level it is at now..
Complete JOKE.
aaaannnnd gold heading lower as silver goes red......
Sell protection, buy risk. If they don't strike a deal, the US$ is toast so it won't matter if you win or lose those IOU's.
Well, one good thing is coming out of this.
In the break room, I heard three actual normal people talking about the difference between the "deficit" and "the debt".
They are pretty sure that these concepts are two different things and are very large numbers. There's no agreement that they are related in anyway tho.
Anyone know if Taxi drivers are buying rentals, yet?
That is one of my indicators
Excellent progress! Soon they may ask, "How much is a trillion?"
One thing is for sure - the country is badly broken.
Re: the country is badly broken
For the top 20% things are pretty good. Crony socialist/capitalist banana republics aren't so bad if you're on the top of the food chain.
And, best of all, the bottom 80% really don't know what or who is causing the problem (other than "the politicians", who they'll relect next time), but - luckily for the top 20% - aren't really that pissed off as long as they've got enough (near) food, gladiator battles, bling, and porn.
We've got the best banana republic that's ever existed in history, and THAT is an accomplishment.
Well, at least one of the biggest.
There's clearly a bid there until there are none!
The proof of PPT/FED manipulation is the holding and bounceback at the 130 and 11 handles!!!
THEY are NOT GOING TO LET THIS MARKET BUILD DOWNWARD MOMENTUM!!!!
A FRAUD!
I'm shocked, I say, shocked, since they usually wait until -20
....and of course we're still way too close the ATFH! So, please patiently wait until bids evaporate like zero humidity!
DARN! And right when everyone bought the dip!
Yellen on the offer in Gold for size.
Who's got bigger BALLS than the FED? Where are you? Get in there and get to work!
Those EBT card holders at the LA WMTs havent missed any meals-
No kidding. EBT shutdown puts nation on diet, plus the new Its-A-Riot Extreme Workout to lose even more pounds.
Problem is, most americans can manage only 2 to 3 steps without their free Rascal scooter before passing out and collapsing from exhaustion.
AAAANNNNNNDDDDDDD The Bernack can pump it up when ever he is ready too..........
Like I give a flying fornication what politiwhores and bogus markets think...bite me!!!
Gold was artifically slammed down to begin with... and it almost touched 1250.. now its near 1285, big intraday move there.. and an almost immediate retracement of the enormous slam down (this is prior to any debt talk breakdowns). I don't think gold will see 1250 again for a long long time.
It'll hit 1250 at 11:59 on Thursday night.
If it does it will bounce off of it hard and right back up again. The buyers were out in full force after today's slam down. There are physical supply issues showing now too. This happened last time when it hit 1200.
What FUCKING BULLSHIT this thing is! I've had it with this crap. I'm taking my ball and going home flat!
This is insane. If after 4 years you still need proof that the Fed is actively buying S&P futures every day - look at today's action
Of course it's fallen apart. Why would we expect less from the idiots that occupy Congress?
isnt it amazing how these ''investors'' always want to buy the dip in this market at these inflated prices, but back in 08-09 when indexes were collapsing on a daily basis, the ''buy the dippers'' were nowhere to be found?
gee, i wonder why that is. maybe because the fed was not pumping back then.
geez, msm is so fucking pathetic.
seems logical.
The Teaparty is a threat to our National Security.
As such they need to be removed from the game.
If we all stop pretending now, the ending we fear begins now. I'd rather wait.
Too many of the teabaggers believe in, yearn for, the rapture. Get them the fuck away from the controls!
Million Dollar Bonus - Welcome back! We missed you.
You must be one of the Greek Parliament's neo-neocons?
Big Deal...more confetti
Gold rallies 14 bux and we say it soars?
A bit of an overstatement.....
No real volume on GLD
What do you care about gold? Yer not buying it, yer not selling it. Hang on to it and check back a year from now. What do you care if it is going down? You should be happy if you believe in your convictions so you can acquire more at a better price. Fat chance you'll be selling it when it starts to shoot up.
"Fall Apart" /// "YIPEE"
This is actually Good News! Only 15% of the Government is shut down. What's all the fuss?
Remember the good old days when S&P couldn't hold above 1,150?
I see no reason why it's above that now.