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Fed Does Not Taper, Keeps QE At $85 Billion
Just as everyone expected, the Fed (absent its Press Conference) statement confirms they are data-driven, data is not good 'enough', therefore, no-taper:
- *FED SAYS IT WILL AWAIT `MORE EVIDENCE' BEFORE QE TAPER
- *FED SAYS ECONOMY `CONTINUED TO EXPAND AT A MODERATE PACE'
- *FED SEES IMPROVEMENT IN ECONOMY EVEN WITH `FISCAL RETRENCHMENT
There were no clear comments that markets are growing a little too comfortable with the Fed's free-money. Full Redline below...
Pre-FOMC: S&P Futs 1761, VIX 13.98%, 10Y 2.48%, Gold $1353, USD 79.46
Just before the statement hit, the market broke again! Gold started to rise, USD fell (led by EUR strength), VIX was smashed lower...
- *NASDAQ HAS DECLARED SELF HELP AGAINST NASDAQ-BX
By way of interest, in the next 5 days, we will see an overload of Fed Speakers: Tracy, Bullard, Kocherlakota, Lacker, Powell, and Lacker again... It seems they have no need for a press conference.
Full Redline below:
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the fuck is silver doing
Gold smashed before release. That was the tell. Although everybody knew.
Live Spot Gold: http://www.pmbull.com/gold-price/
Same for Silver:
Live Spot Silver Chart: http://www.pmbull.com/silver-price/
Very impressive gold smash in just minutes...
What evidence does the federal reserve need ? They hardly foresee anything or acknowledge any economic calamity until everyone has lost their shirts and undies... Me thinks they do not have anything left in their arsenal and they are bullshitting aka making up crap as they go.
Yes, agree. They have no clue what they are doing and have morphed traditional monetary policy (moving interest rates) into a glorified PR firm. Their only way to move markets now is say things like "exit strategy" or "taper".
I actually wish they would have tapered. Reality may then come back to the markets and Ben won't be looked at as such an assface liar. But they won't taper, because they can't taper. Entire market stucture would crumble, interest rates spike, and derivatives chain blowup would be spectacular.
That's why I keep saying, "Taper Ben. Let's do it." Because he never will.
Fed Does Not Taper, Keeps QE At $85 Billion really??? It will increase to $180 Billion a month.....I'm not shocked... Gold at $3,500 within six months...Easy call..
US Gold Treason
http://twoshortplanksunplugged.blogspot.com.au/2013/10/us-gold-treason.html
The status quo is dead.
Long live the status quo!
But lookie what just happened to VXX..
Somebody knows something.
SOP around Fed meetings.
They's gotta pump for one hell of a long time, so no can let the metals rally.
Would be an inflationary sign, a sign that they were not in control (rolling eyes).
Expected.
And almost late this time!
"To taper, or not to taper, that is the $85B question: Well so far it's $85B."
Bernankspeare
What is silver doing? Being smashed - at EVERY opportunity and press release, either good or bad. The only true alternative to global monetary supremacy must be smashed.
If you thought the bankers would let gold and silver be free and respond as they should, then wtf r u smokin?
The entire US based market structure is a manipulated political game. Stack and wait. Intra day bullshit means nothing.
Buy the smash. Every time. If silver goes down when it should go up, buy it. That's the only way to say FU to those selling the paper.
mmm snilver want smoosh smoosh!
Hulk smash!
They are being clever and outsmarting everyone. heh
I finally bought on a fucking dip! There goes my perfect record as a contrarian indicator...
December meeting; raise the QE. So long Ben, we won't blame you if it fails. And if it succeeds Yellen and the Fed get the credibility.
It won't succeed. Unless, by succeed, you mean blowing up the currency and the financial system.
Success is measured only in the sales of Bentleys and Lambos. Last I heard, they were doing tremendously. So were the sales of high end robes and garments. Versailles is living La Dolce Vita with money from shit. The rest of the plebs are fighting over the scrabs and trying to survive another day so they can get up the next day and be of service to Versailles again.
They've got a good gig going and it will never occur to them that what they're doing is hurting the people until the people start hurting them back.
Weren't they supposed to taper two months ago?
Oh, right.
Tomorrow is Thursday, so we should know more by then.
Yea Ive seen this before. No taper, but taper rumors start tomorrow so they can keep smashing gold down. PM down, S and P up, everyone [connected] wins.
"the fuck is Silver doing....."
that aint real Silver doing anything homie...just their paper games...
STAY THE COURSE AND KEEP MOTHERFUCKING STACKIN PIMPIN'!!!!!-
phyzz stackin' IS pimpin' bitchez...so get out there and BTFD!
Doesn't matter - We all know from yesterday that QE is pretty much neutral. No problems ahead.
LOL they can nver taper
Ben's down to one meeting left
is cnbc still preaching the "improving" economy? havent watched for months
"Everything is fucking awesome."
-CNBS Cliff Notes
The Extreme Ponzi Makeover Show
will never be cancelled
Give me more QE Janet!!!
A few of the 12 stooges at the fed should start appearing again on CNBS to rally the market into the end of the year.
And then whatsherface's turn...
Yippie...
/
You mean Whooziefutz Whatsherface?
I, er, we knew her in college......
Who? Larry Yellen? ;-)
No press conference needed when the only message is BTFATH.
quick summary: "QE doesnt work. data proves it. we'll keep with a failed policy because its all we know to do"
hmmm real surprised... no taper and gold goes down $10?!?
It's reversing...
Equities getting a Bennie HardOn...
SS...
DJIA down -25 @ 2:15pm
Yeah, everything is tanking now...
That it? Market is happy holding.
$85B/month is no longer enough. "markets" were hoping for expanded qe. as in, we need MOARER.
QE is the problem, but they don't figure that out, far too complicated for those PhD's.
@Kristian
I think they know, which makes their actions unconscionable, immoral and criminal.
Of course, they also know what the immediate pain would be if they ever did taper. So... best to keep the pain delayed for as long as possible, no?
Sure it's only gonna make it all worse. But hopefully that will occur on someone else's shift later on.
@NotApplicable
Unless BernanQE's got a terminal medical condition or an "accident" is waiting to befall him, he's going to live this hell with the rest of us survivors. I do imagine there will be a substantial number of finance types that will choose to eat the proverbial bullet.
No taper...shocking!
/
I'll be enjoying another free lunch on Kito. Let me know the next time you want to buy me a sandwich pal.
Two months in a row? I think he deserved to have his money taken. Maybe on Dec/Jan you could make a case, but only one month later? Wow.
So, anyway, how was the sandwich?
Our first bet was last October on QE before the elections. The free sandwiches are always better than those you have to yourself. And just for the record....the fed will never taper.
No argument here.
One firehouse sub, comin up. What's your preference?
I think I deserve my vig of 10% of the sandwich for helping put this bet together
no taper?
holy shit, who would have thought that they would not taper. i must say i am shocked.
Eastasia has ALWAYS been 'waiting for more data'.
And silver got smashed lower. Market madness continues.
They'll do it NEXT TIME.
Heh!
DOW, S&P and Qubes to rise to strataspheric levels!
just the tip!
Moron driven is more like it. It is obvious QE is not working unless the real intentions of QE aren't the stated ones. Morons or malice which one is it?
Malice.
Why not both? Plausible deniability is an evil-doers best friend (as well evidenced by TOTUS).
Old sign in bar:
"Free beer tomorrow."
Sign above FED:
"Will taper next month."
pods
We need MOAR data!
Trololololo....
Gold slammed. The usual nonsense. I am going to celebrate the collapse, I swear it.
The addict refuses to go to re-hab and has decided to die a junky's death. Moar heroin!
To the FED: The people are awaiting more evidence before they fry your ass.
So the new equation is: No Taper = Sell Gold, Taper = Sell Gold
Who do these tube sock stains think they are kidding smashing PM's down with the announcement of more perpetual confetti currency?
Don't worry Bart Chitlins and his Hair will investigate.
Rumor has it he's "Blind Melon" Chitlin's love child.
I'm shocked. Just shocked!!!
The money changers wanted MOAR! $100-120-150 billion. The $ get's bought on the status quo of $85 billion until further notice.This circus is going to end with a tragic thud...
Nice move higher on the USD since release...vs peso and cad.
Just like we thought. ;-) Hope you're getting some... I'm short aud since Sunday open.
Just moved my stop to 25 pips below break even. I took the peso and cad. Too much shit going on with the pound. Good call, amigo!
Nice work. Agree with the £ trade.
Took profit on the peso. Fuck that went up fast. Keeping the CAD short.
Nice chattin Yen. Stay in touch.
Will do thanks.
What time is the rampapalooza? You can't have a red market!!! It's illegal!!!
Usually 3:30pm
I'm long as as bullish as any Gold perma-bull but we WANT to see them smash Gold here, something like a good $20-$30 in order to see what it does afterwards.
If it comes straight back up (within 24hrs) like a Yo-Yo then the bears and manipulators have got a real problem on their hands.
Countdown to Hilsy...
T-minus
The fiat is on life support. If they pull the plug, everyone knows what will happen.
Long gold but I absolutely am LOVING the PMs smash down (if it lasts)... after all why wouldn't I want it to be lower so that I can buy MORE gold sanity to safeguard against MOAR equity insanity!
I prayed, God answered my prayer. I owe someone a scar.
And TICK punches a new low, buy now go away.
Over.
keeping only $85/month is actually a taper for this junky markets
What ever you do Coyote don't look down! You will see the evidence
Some sectors are collapsing from a Classic Deflationary Downward Death Spiral, while other sectors (food, insurance, air fare, for ex) are soaring.
Existing and new home sales are stagnant in my area and on top of that, builders are adding over 8,000 new houses north and NW of the area (which does not include the East or Sotuh areas).
Crazy Bubble. Gonna be lots of hard feelings when those house price correct.
the only reason they didn't announce an actual raise is because of all the behind the scenes extra printing they've been having to do lately just to keep the ship of state from listing.
The Fed has to ensure that the USG can spend enough to keep GDP up.
We also have the concern that the Saudis might abandon the dollar which they recently hinted they would do if we did not make war with Syria.
Sooooo....if we do go to war with Syria and spend that way, the Saudis would support the dollar a bit longer and the Fed might be able to let up a bit.
This may sound wacko but I have heard (from a relative of a soldier) the 82nd Airborne is in Japan prepping for Syria. My guess is that in spite of our protests that some huge event will occur the justify military action. Obviously it would have to be more than Sarin gas.
Jim Sinclair recently said that if the Saudis dump the dollar we have a very good chance of labeling them terrorists and starting a war. and as a result of all those petro dollars cut loose the dollar would go to 50.
CFTC - One more time: There Is No manipulation In The Gold Market - It Is Just Normal Price Discovery...
GATA: Bill Murphy - The Andrew Maguire Saga Continues: Gold And Silver Markets Manipulations
Somebody is getting very desperate with physical Gold flowing to China and COMEX and LBMA vaults running on fumes. System knows how to dilute the real message, but we are talking here not just about one of the wistleblowers or his credibility - we are talking about Gold and Silver Market Manipulations. "We will ask our rhetorical question again: after LIBOR fraud, FOREX manipulations, Energy market rigging, Mortgage scam and Pension looting - Is The Gold Manipulation To Be Admitted Next?"
We have very timely the latest entry on the GATA website on this subject to share.
Chris Powell: Gold price suppression -- why, how, and how long?
You can find more about this Saga below. http://sufiy.blogspot.co.uk/2013/10/gata-bill-murphy-andrew-maguire-saga.html#
none of this really matters until it does.
and today is not that day.
Because it's going so well.
"FED SAYS IT WILL AWAIT `MORE EVIDENCE' BEFORE QE TAPER."
I hope you know what this means : Yellen will die of old age, long before QE taper .
the Red Queen has him where she wants him "first the sentence (in this case policy) and then the evidence (data)" these bright boys are suddenly behind the curve
the undead can not die again
it looks like "the market" was holding out hope for an announcement of even larger qe buyiing. oh well, there's always next month.
Right on Buzz. They probably also wanted more then 30 days guidance on the duration of the current program as well.
A smart FED would have said time to let the liquidity FLOW on one hand and then secretly begun tapering with the other.
But I guess the FED has their hands full, printing an changing the pictures on their desks.
secret qe tapering would be akin to secret underground hydrogen bomb testing.
since the current economic measures dont' mean anything, the best idea is to stick to them, since they can be interpreted just about any way the economists prefer. and they aren't going to change. (this is why they use employment, its means nothing either) most of this stuff is an excuse to monetize government spending, but beware, cut that spending and the reason to print money and give it to rich bankers (who then buy stocks) is suddenly in doubt. the stock market is suddenly an appendage of the old economy. a monkey can run a printing press economy, and a PHD can run a 1930s economic model (see Bernanke on the great depression - celebrate ducklings, this time the fed won't raise rates too soon) not only are these guys fighting the last war they're losing it.
ha,ha only one exit door for the full house
FREE MONEY, BITCHEZ!
"...markets are growing a little too comfortable with the Fed's free-money..."
would be the understatement of the millennium - if they ever said it.
ok then...Well, you all know what I say on bullshit days like today right? Right? Oh, that's right, you probably don't. Well let's just leave it up to Mr. Eduard Kihl then...
http://trololololololololololo.com/
and move along...
Ha, ha! Told ya! Tue, 10/29/2013 - 20:35 | 4103299
The Fed is trapped between two untenable positions: They want to taper, but can't. They HAVE to keep 'printing' (increase the 'Money'* Supply) as the VoM is not doing enough to keep the product of the two (M*V) at levels to equate with economic growth.
In fairness, others (Rickards, Rogers, Schiff, LoP, etc) have been saying the same thing for a long time.
Hey, Fed, Banksters, save you head-fakes for your gullible Muppets. WE are wise to you.
Stunning news.
Now... back to polishing the brass on the Titanic.
Market Price Discovery And The New Normal: No Taper And US Dollar Goes Up With Gold Being Smashed Down Again
Lets wait for how long will the "Normal Price Discovery" be ongoing this time.http://sufiy.blogspot.co.uk/2013/10/market-price-discovery-and-new-normal.html#
All because of the Federal closedown......
What will be the excuse next month?
Beginning to sound like Bagdad Bob
Look at how America's seniors are being treated by FedCare...Can you imagine how they will be treated by ObamaCare?...
Cheer up Kito. You were right, you are just early. Which is the same as being wrong. But you're right.
Bernie Madoff said it some time ago, that the Fed et al is just a big ponzi scheme and he should know. Max Keiser said the same the other day on his show, and ponzi scheme always need more, not less until they collapse and you can usually tell becuase the 'smart' conmen exit a little early, before the suckers wake up and start smelling the shit themselves and want their money back or out.
THis reminds me of what the gangs in LA say about the cops, you have to give them some respect because they are the biggest gang, and since we were founded by and in empire, it should come as no surprise that we are following the usual imperial collapse. Same routine every time, only Mother Nature is set to start her cleanup routine next year, so if the PTB want to 'pull the rug out' they better start soon, next year seems too late to me to get the party started, but then I'm not as greedy as they are. Maybe they should watch that Titanic film, even if it really was its' sister ship that went down, and remember that those that linger, drown.
Was there ever any doubt? The most the Fed has done about tapering is to exercise its considerable jawboning power. That is it.
The derivatives monster that has as its foundation the endless issuance of treasury debt, the "perfect collateral" which can be infinitely rehypothecated, cannot even remotely handle a cutback in velocity of debt as money growth.
I suggest, in the immortal words of W, that "this sucker's going down."
Prepare.