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Gold Spikes As QEeen Yellen Mentions Fed's Tools (Then Slides As She Warns "QE Can't Go On Forever")
UPDATE: Gold is slipping back as Yellen notes:
- *YELLEN SAYS QE `CANNOT CONTINUE FOREVER'
- *YELLEN SAYS FED TAKES RISKS OF QE `VERY SERIOUSLY'
Yesterday was equity markets turn to get all exuberant over Yellen's promises. Today, it is the reality that she will do whatever it takes and her mention of data-dependence and ongoing use of Fed tools that is sending gold (and silver) higher.
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Keep talking grandma!!!
blah blah blah wake me up at gold 3000 , thank you ....
I presume these traders understand they are being toyed with?
RED LIGHT GREEN LIGHT 1 2 3
........clearing customs in Mexico comes to mind....the Fed using the same random number generator????
My fucking half gallon of Florida's Natural OJ was $4.29 for 59 ounces. I can't wait until it is $10.99 for 39 ounces.
Janet is absolutely right, QE can't go on forever: It will not continue after the dollar collapses into oblivion.
It will happen before forever.
Don't worry one of her cronies will come out this afternoon and lay on the possible taper talk.
Can't go and let gold build any momentum now, dont ya know?
I am convinced that TPTB can make the paper gold "price" do whatever they want.
Same here. My capitulation is that they have complete control of the price until the last moments of the USD, when they don't.
It's easy to control things using illegal methods when you're cooperating with the governments of the world.
Actually I have a pet theory that the entire yield curve is rigged, and not just by the Fed's buying. When you think about it, being a central keystone of so many things, of COURSE the crooks have it rigged. The same goes for any contracts based on Gold. If LIBOR was easy to do, why not the bond curve?
Can anyone explain why any talk of tapering, or indeed if tapering should occur, have a detrimental affect on PM prices ? Surely it's share prices that would be most affected by tapering - am I missing something here ?
Right, I would think that the vocal confusion from the financial illuminati should indicate ... confusion, thus precipitating a flight to safety / value. But what do I know, I never went to Harvard.
Hedgies are stacked up on the short side, they'll get their arrses handed to them at some point. Just paper games as the Chinese stack like crazy.
Tapering, like rising interest rates, is perceived as deflationary (bad for asset prices) in that it contracts the money in circulation. Golds price is, wrongly assuming there is no manipulation, a function of pure supply and demand as no gold is consumed. In a manipulation free market more circulating currency should mean higher prices as more money chases a finite resource.
Thanks for the responses, but the way I see it PM's have been hammered with both QE and hammered with taper talk - none of this makes sense. Unless of course , this is the new normal we've come to expect. Bottom line is that all these paper gold and silver shorts are preventing true value discovery.
Well I don't know why, I mean Yellen doesn't see a biuldup in leverage
I already miss Bernanke
Thats not gold spiking ist zeros and ones spiking in some database somewhere
Really, so I can take delivery for any price I want then? - FAIL.
Try take dellivery the amount of contracts in circulation
FAIL
exactly. Can't wait to see what the "new" currency is going to be for the unwashed masses.
Even more funny, try take delivery on 2/62 of the contracts in circulation
FAIL
http://jessescrossroadscafe.blogspot.nl/2013/11/comex-claims-per-deliver...
Speaking of which, bitcoin back over $410.
Forever is past our lifetimes...
*YELLEN SAYS FED TAKES RISKS OF QE (NOT)`VERY SERIOUSLY'
YELLEN SAYS QE `CANNOT CONTINUE FOREVER'
Fuck you, dried up old twat.
Long KY jelly.
QE will stop in the same manner ones fingers give out whilst hanging from a ledge...
Takes the risks of QE seriously yet there is no alternative except a default or collapse of the US economy. So, enough with the bullshit!
it used to be bubbles were once a century phenomenon, then it became once in a decade phenomena ... now it's turned into defacto economic policy ...
She is the fall guy (pun intended)
I love how CNBC cut her off just as she was explaining that the fed is not buying all the bonds to finance the deficit.
She is dumber than a box of rocks, but if you look at the way that Zero is protected there is no way that the libs will let the first "female" fed chair be the fall guy. If this thing falls apart she will be given plenty of cover.
Did you see how fast she tried to punt to Japan when asked about the fed's balance sheet?
Yeah we don't want to talk about that...look over there------------------------------->
QE will continue until China floats its currency...which will happen maybe in the next 50 to 100 years.
I don't give a flock how many fiat credits gold is worth.
Check the spike in 10yr yield. Its a hint.
what spike?
A filthy old whore moneylender. What's new?
you know she is hoping it holds together long enough untill she drops dead of old age.
"Forever" is a long time. I agree QE can not last forever. The sun will explode. The universe will experience heat death. Everything ends, eventually. QE - not anytime soon.
Sooner than the sun exploding is central bankers hanging from lamp posts and people using real money. QE would end some time around then.
Well that certainly didn't last more than four hours. There is no need to see a physician.
Better get Japan on the phone. Tell them QE can't go on forever. 20 years must be the absolute max. Oh and don't forget, we have been doing QE longer than Japan. They just didn't talk about it.
Its obvious to me that Janet Yellen is not part of TPTB club. Janet was invited to the table to be the patsy. Probably why Summers, Geithner, Fischer, etc... were really not contenders for the crown.
Patsy is if they thought the jig was up. These scum are so brazen as to think that they will keep the scam going.
I'm thinking they are setting up their next printing program under they new heading of "Helping share the growth with the average American" theme this time. That's why they have all been writing articles about how only wall street gained with QE.
*YELLEN SAYS QE `CANNOT CONTINUE FOREVER'
About the only truth that came out of that Larry Summers Tootsie dopplegangers mouth.
Algos are so gullible. Surely its a case of "fool me 50,000 times, shame on you. Fool me 50,001 times....shame on me" type of thing by now?!
Saying QE can't go on forever is like saying a beating can't go on forever. She is right about that, eventually you die - which is exactly when the beating stops.
I have it figured. It's an attack on womens equality.
1) Hire Janet Yellen as Fed chair. Who, according to her birth cert, is a woman (I'll let that slide for now)
2) Let her oversee the biggest crash of all time.
3) Blame her because of her darned female hormones ("she was on the rags at the time" etc etc etc)
4) State that it would never have happened if a man was in charge
5) Women revert to a subservient role in society, providing only hot dinners and blow jobs.
I support the nomination of Janet Yellen.
Gold could be headed back to 1325 -possibly higher.
http://bullandbearmash.com/chart/spot-gold-daily-bounces-channel-support...
So now we get a new dealer for the the 3 card monte game? Same game....
With those keywords it won't take long before we have HFT Algo bingo...
Hope she's wearing her depends.
If you up interest rates,you'll murder the stock market and all American pension funds.Top it off with wiping out the little that mom and pop have left.At a delicate stage in the recovery,Municipalities and States along with the Federal U.S. Government would have to pay higher rates of interest on debt.So,where would the job creation come from in order to pay for increased interest on the deficits?Tax everything even more?Kind of doubt it,it only leaves you even less competitive and the Chinese know it.My comparison is like close to checkmate in chess or better still to penny stock manipulation where naked short sellers on behalf of market makers and banks drive a microcap into the basement at .0001 . Once cellar boxed,you've destroyed investor capital and no investigation happens most times when a Company is bankupted.They simply sell the technology to China and move away because of what the crooks did to them.Same thing with the U.S. Government and their endless wars creating huge deficits.To me,I see the Senate hearings as a snowstorm to blow thw snow across the eyes of the public.It's a copy of Japan and they're cellar boxed to a greter extent.Even the slighest whisper of taper will crash the economy because it will be interpreted as an interest rate increase.Pull the plug on worldwide bad debt?We all know that it has to happen one day in order to restart the next economic cycle.The longer this lasts,the greater the drop will be.
So, now Yellen has to face the Bond Vigilantes What’s wrong dude!? Ya Yellah!, Yelly Pelly http://youtu.be/0c-UIkfsk1U?t=1m49s
Altough the 10-Year went down now for the moment to 2.7% http://www.bloomberg.com/quote/USGG10YR:IND , I think there will be a solid floor under that number because this could be the last opportunity to get rid of those bonds while there still hold value which could trigger some algos rather at the upside than the downside.
I can’t imagine that foreigners like to play this game any longer when the downside risk is getting bigger and bigger. So, Yelleh may do her killing before breakfast, get the grease pots out and start greasing the Printing Press early in the mornin’ cause those bonds will be flying return to sender often faster than expected.
Art Cashin: “The US Treasury market is not waiting until December 18th to see what the Fed will do, it is instead continuing its attempt to tighten policy for them.
The process was interrupted on September 18th and somewhat in early October but has since resumed.
The 10 yr note yield at 2.77% compares with 2.85% on September 17th and with the close of 2.69% the day after when the FOMC didn’t take what the market was giving them.
This action begs the question that assuming we enter the December meeting with the exact circumstances we have today in terms of data and market levels, will the FOMC fool the market again or not?
Either way, what we are witnessing AGAIN is the bond market reasserting its power over the long end of the curve notwithstanding all the money being spent by the Fed.
Fisher spoke overnight in Australia and repeated again his concerns with QE.
“There’s a tipping point where monetary accommodation comes to be viewed not as the pleasant stimulus that levitates bond and stock and housing markets all over the world.
But, instead becomes an agent of financial recklessness.”
EXCERPT FROM: This Is Becoming “An Agent Of Financial Recklessness” http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/12_This_Is_Becoming_An_Agent_Of_Financial_Recklessness.html
Vigilante Man! http://www.youtube.com/watch?v=x4KmbUCwkyE I’ve been hearing his name all over the land …
Not forever... just for the next year or two until the great crash, burn and reset occurs.
Qe forever minus one day.