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A Look Inside The New York Fed's Trading Desk: Then And Now

Tyler Durden's picture




 

In late 2010, we wrote: "The World's Most Important Trading Desk Is Not At Goldman, But Is On The 9th Floor Of 33 Liberty Street" in which we said "even though our good Samaritan friends at One New York Plaza may take offense to this designation, the trading desk that controls the formerly free world is not located anywhere on the premises of Goldman Sachs, but is instead situated on the 9th floor of 33 Liberty Street, also known as the home New York Fed. From a trading desk cluster at this location, 39 year old Brian Sack controls the uber-secretive money flows that determine the daily fate of credit, equity and virtually all other markets, that have now been subsumed by the government's central planning ambitions and aspirations to determine each and every uptick in the increasingly more irrelevant S&P 500."

Since then Brian Sack has moved on, replaced by the levitating market wizard, Simon Potter, and his disciple Kevin Henry. However, while we identified long ago the "wealth effect" nerve center of the New Normal, one thing largely unavailable, was pictures of this trading desk with seemingly no sell buttons. Until now: below, courtesy of Wall Street on Parade, we present a modest compilation of not only what the current NY Fed trading desk looks like but also compare it to its predecessor, as it appeared on vintage photos from the 1930s.

Now:

Blake Gwinn, left, and James White in the operations room at the Federal Reserve Bank of New York (source)

 

 

 

 

 

 

 

 

A Trader Monitors Four Computer Screens on the Open Market Trading Desk at the Federal Reserve Bank of New York (source)

 

 

 

 

 

 

 

Is that Kevin in the foreground? Open Market Trading Floor at the Federal Reserve Bank of New York (source)

 

 

 

 

 

 

 

And then:

New York Federal Reserve Bank Trading Floor Before Computer Screens (source)

 

 

 

 

 

Trading Area of New York Fed, Vintage Photo (source)

 

 

 

 

h/t Wall St. On Parade

 

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Wed, 11/27/2013 - 12:34 | 4193889 nasdaq99
nasdaq99's picture

Greece making news again  WHO says 26000 Greek health workers to lose jobs:

 

http://greece.greekreporter.com/2013/11/26/who-predicts-26000-dismissals-in-greek-health-system/

Wed, 11/27/2013 - 12:37 | 4193896 Max Damage
Max Damage's picture

Bullish then?

Wed, 11/27/2013 - 12:44 | 4193915 hedgeless_horseman
hedgeless_horseman's picture

 

 

Brian Sack has moved on, replaced by the levitating market wizard, Simon Potter...

Wed, 11/27/2013 - 12:47 | 4193927 mayhem_korner
mayhem_korner's picture

 

 

Coincidence that Simon Potter's initials are S&P?  And the girl in the pic...her name is Bond, right?

Wed, 11/27/2013 - 13:35 | 4194088 JLee2027
JLee2027's picture

And the platform holding her up is visible in the photo.

Wed, 11/27/2013 - 14:19 | 4194187 remain calm
remain calm's picture

Where is the Heli-pad?

Wed, 11/27/2013 - 18:52 | 4195153 Hard1
Hard1's picture

THEN:   Buy another million!!!   A: Holy smokes!,  why so much?

NOW:  Buy anothre trillion!!!  A:  Bah, pocket change, why so little? 

Wed, 11/27/2013 - 22:12 | 4195739 StychoKiller
StychoKiller's picture

Bond, Jane Bond... :>D

Wed, 11/27/2013 - 12:48 | 4193930 knukles
knukles's picture

Why in the world do they need so many people?
Having been around stuff like that for eons makes me think they're way far more involved day by day in everything everywhere than it generally even wildly speculated.

Wed, 11/27/2013 - 13:01 | 4193984 buzzsaw99
buzzsaw99's picture

there is no market and never has been. there are only the fed gangsters.

Wed, 11/27/2013 - 13:10 | 4194017 walküre
walküre's picture

Until they're being outsmarted by the Chinese.

Chinese have a much longer tradition and history of fraud, corruption and manipulation than the Jewish money makers. Mao laid the ground work for the Chinese takeover. The Fed gangsters thought they could keep a lid on the Chinese and only benefit on their side of the trade. I think the Chinese are ahead of them and have bamboozled the Jews into accepting Mao paper as real money and allowed the exchange from Mao paper into real assets. Now it's going to hurt!

Wed, 11/27/2013 - 13:15 | 4194030 greyghost
greyghost's picture

careful, buzzsaw99, you will catch the fed trolls attention and be forever labeled a "fed hater" on zero hedge.....LOL

Wed, 11/27/2013 - 13:29 | 4194074 aVileRat
aVileRat's picture

Before I die, or the people-pits die. I really want to take a vacation to an old school commodity pit and buy 1 contract. Just to remind myself what a "market" was. When a ticket actually meant a deal to settle and people actually knew what the fuck they were buying vs. riding trends and CNBC buzzwords.

On a side note, trade desks should start charging clients by the buzzword used by buy-side to make up comissions lost to HFT pools

You want to buy some fracker exposure to offset that taper headwinds on your cloud leveraged social media green youth centered thought leader IPO ? awesome, 0.99cps please. 0.01 for my time, 98 for brain cells lost while I wondered how you passed the series 13.

 

Wed, 11/27/2013 - 12:48 | 4193931 Sonic the porcupine
Sonic the porcupine's picture

You can clearly see a board below the girl, which straps to the dudes chest under his clothes. Is that supposed to represent the fed?

Wed, 11/27/2013 - 12:56 | 4193945 hedgeless_horseman
hedgeless_horseman's picture

 

 

You can clearly see a board below the girl, which straps to the dudes chest under his clothes.

Darn it!  Now, that you have spoiled it for everyone, here is one of the prestidigiflationist's favorite levitation tricks revealed for all the world to see.

Wed, 11/27/2013 - 13:28 | 4194064 disabledvet
disabledvet's picture

darn it. "for every secret...there's a secret revealer." who's the moron that put the media in New York? Oh, that's right..."the market people." i would point out the importance of "the receiver" in the "old tymie pics" held up to the ears. other than that not much to see here. get a look inside Bloomberg's HQ on the other hand...

Fri, 11/29/2013 - 12:05 | 4199584 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Hah, an old trick.

You want to know what he's using to "levitate" the young lady?

Wed, 11/27/2013 - 12:35 | 4193892 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Buy, buy, buy!

Sell, sell, sell!

It's nice to pretend that the market exists.

It brings comfort.

But all markets are illusory.

To be the market, you must kill the market.

And they're doing a pretty good job.

Wed, 11/27/2013 - 12:39 | 4193906 Mae Kadoodie
Mae Kadoodie's picture

Wouldn't you like to play a game of knockout with these douche bags?

Wed, 11/27/2013 - 13:07 | 4194003 debtor of last ...
debtor of last resort's picture

Second pic, third monitor from the right: someone is heavily shorting btc.

Wed, 11/27/2013 - 12:36 | 4193895 TumblingDice
TumblingDice's picture

Illusion of control. Those trading desks have all the control...until they don't.

Wed, 11/27/2013 - 13:19 | 4194038 maskone909
maskone909's picture

just the idea that- a private bank for which we have no legal authority to audit- whom can print currency and control interest rates- HAS A FUCKING TRADING DESK? truly a mindfreak of epic proportions

Wed, 11/27/2013 - 13:30 | 4194072 disabledvet
disabledvet's picture

not really. the fact that they get bailed out by the Federal Government is a little odd though. "moral hazard"...among many others i imagine.

Wed, 11/27/2013 - 12:37 | 4193901 Trimmed Hedge
Trimmed Hedge's picture

Look very closely at the middle monitor in the 1st photo..

They are trading Bigcoins™!

Wed, 11/27/2013 - 12:46 | 4193921 mayhem_korner
mayhem_korner's picture

 

 

Actually, I think that's the weather channel - seems they are manipulating the weather, too.

Cue the Sun! (Christof, The Truman Show)

Wed, 11/27/2013 - 13:59 | 4194145 maskone909
maskone909's picture

great movie +1

fightclub

truman show

matrix

gattaca

Wed, 11/27/2013 - 12:39 | 4193902 Max Damage
Max Damage's picture

Can anyone see the dump 150,000 gold contracts button hidden in the corner of the fourth pic?

Wed, 11/27/2013 - 13:10 | 4194016 Cacete de Ouro
Cacete de Ouro's picture

Notice the classic gold waterfall in the Bloomberg chart also, an 8.30am slam down

Wed, 11/27/2013 - 12:40 | 4193903 Rainman
Rainman's picture

WAY WAY  too many humans hanging around back then.

Never send a human to do a machine's job.

Wed, 11/27/2013 - 12:39 | 4193905 1835jackson
1835jackson's picture

Serving you and taking care of business and at the bar at over time since 1913.

Wed, 11/27/2013 - 12:40 | 4193908 Bryan
Bryan's picture

What's wrong with this picture?  Correct, there is no porn streaming on the screens.

Wed, 11/27/2013 - 12:44 | 4193917 I am Jobe
I am Jobe's picture

Stay Calm- SLAVE ON

 

Fed Reveals New Concerns About Long-Term U.S. Slowdown

http://www.bloomberg.com/news/2013-11-27/fed-reveals-new-concerns-about-...

Wed, 11/27/2013 - 12:47 | 4193925 Bay of Pigs
Bay of Pigs's picture

The Man Behind the Curtain, the William Dudley.

Wed, 11/27/2013 - 12:47 | 4193926 rp1
rp1's picture

The four screens in order: dollar kill, stock pump, gold smack, and cash for trash.

Wed, 11/27/2013 - 13:34 | 4194084 disabledvet
disabledvet's picture

I that's probably the BofA trading desk actually.

Wed, 11/27/2013 - 12:50 | 4193933 firstdivision
firstdivision's picture

Whats with all the expense of all these bloombergs and traders?  Just need this set up and put a 'sell vol' key  http://www.thevariousartists.com.au/sites/default/files/drinking-bird.jpg

Wed, 11/27/2013 - 12:51 | 4193940 HFBondsTrader
HFBondsTrader's picture

Do they bonus their traders?

Wed, 11/27/2013 - 13:25 | 4194013 hedgeless_horseman
hedgeless_horseman's picture

 

 

Those people are not traders. 

Calling them such is an insult to all traders.

They are buyers.

They have no skin in the game.

They make no assessment of risk or potential for reward.

There are no real consequences for their actions.

They merely buy using unlimited credit, conjured from thin air, and paid for via the Inflation Tax by all people holding USD.

Any monkey can do that job.

Wed, 11/27/2013 - 13:36 | 4194089 slaughterer
slaughterer's picture

HH, all hail, words of wisdom.

Wed, 11/27/2013 - 13:36 | 4194090 disabledvet
disabledvet's picture

looks like a winner to me. Little on the hairy side...all he's missing is a pair of glasses and we're good to go. "and you call it a Bank" hehehehehe.

Wed, 11/27/2013 - 15:07 | 4194321 maskone909
maskone909's picture

they are buying shit with OUR money.  since every dollar created is a debt we owe to them.  every asset purchased is a noose around a childs neck.

Wed, 11/27/2013 - 12:52 | 4193944 Mad Mohel
Mad Mohel's picture

Not enough SkyNet. I was hoping for HAL9000 but all I got was a PC lab from the local community college.

Wed, 11/27/2013 - 12:57 | 4193964 economessed
economessed's picture

I can only hope we see an updated photo in a few months time with the yellow "crime scene" tape stretched across.   These folks need to be audited, arrested, and then tried for racketeering.

Wed, 11/27/2013 - 13:07 | 4194007 mayhem_korner
mayhem_korner's picture

 

 

1.  If that photo has silouhetted chalk figures on the ground, I'll pop some corn to watch.

2.  BEFORE these folks need to be audited, arrested, and tried, they MUST be hanged, shot, and thrown into the Hudson with see-ment shoes.

Wed, 11/27/2013 - 13:03 | 4193993 buzzsaw99
buzzsaw99's picture

maggots one and all

Wed, 11/27/2013 - 13:08 | 4194010 alangreedspank
alangreedspank's picture

And how are they not micro managing the markets again ?

Wed, 11/27/2013 - 13:08 | 4194012 alfred b.
alfred b.'s picture

 

   Your wealth being syphoned to gov't, bankster & corporate elite tru a most corrupt & illicit venue w/msm contribution.

 

 

Wed, 11/27/2013 - 13:16 | 4194032 I am Jobe
I am Jobe's picture

and Sheeples are getting ready to shop till they drop. Ha, must laugh at the mind control. 

 

Wed, 11/27/2013 - 13:19 | 4194040 SIOP
SIOP's picture

One of my early memories as a small boy was my dad from time to time would take me to a place where men traded stocks. It was so cool, like a gentlemens club, men sitting around in leather chairs smoking cigars and there was a HUGE blackboard on the wall. It kinda looked like a small movie theater and the screen was a black board. I remember my dream was to have the job as the guy that rode the tall ladder on wheels left and right accross the board updating stock prices on the "big board"

This was in the basement of the Phillips 66 building in Bartlesville Oklahoma.

Wed, 11/27/2013 - 13:28 | 4194066 hedgeless_horseman
hedgeless_horseman's picture

 

 

I remember my dream was to have the job as the guy that rode the tall
ladder on wheels left and right accross the board updating stock prices
on the "big board"

Guy?  That must have been the only board in the nation with a guy up on the ladder.  Every other board had young girls in short skirts.

Wed, 11/27/2013 - 15:11 | 4194328 TPTB_r_TBTF
TPTB_r_TBTF's picture

well, the Okies prefer to have a young handsome guy up there.

Wed, 11/27/2013 - 20:39 | 4195447 Big Johnson
Big Johnson's picture

Pretty complicated set up to trade dung in one of the flyover states.

Wed, 11/27/2013 - 13:24 | 4194057 JR
JR's picture

A Look Inside San Francisco’s School Rooms: The Days Before Thanksgiving…

S.F. scrambles for subs as teachers skip school | SF Gate | November 27, 2013

More than 600 San Francisco teachers and classroom aides skipped school Tuesday to extend their Thanksgiving holiday, leaving district officials scrambling to find enough qualified adults to watch over students.

Officials called in every available substitute to cover the open classrooms but fell dozens short, requiring more than 100 central office staff members with teaching credentials to fill in for the day.

Across the San Francisco Unified School District, 432 teachers were absent - that's about 12 percent of the district's 3,700 teachers - with the vast majority calling in sick or taking a personal day. A few were off for bereavement or training, according to district data.

An additional 179 special-education and preschool aides also took the day off. Almost 10 percent of teachers were also absent Monday.

http://www.sfgate.com/education/article/S-F-scrambles-for-subs-as-teachers-skip-school-5014827.php

Wed, 11/27/2013 - 13:45 | 4194116 walküre
walküre's picture

that's what school is all about

qualified adults to watch over students

glorified day care centers for the children, youth and young adults

throw in some entertainment, a cafeteria and some basic teaching and charge the taxpayer $10,000 per kid p.a.

good gig!

Wed, 11/27/2013 - 14:03 | 4194154 Buckaroo Banzai
Buckaroo Banzai's picture

It's obvious that the teachers in SF need babysitters too.

Wed, 11/27/2013 - 13:37 | 4194093 22winmag
22winmag's picture

So... this is the where the money for all the primo blow and high-end hookers begins it's journey.

Wed, 11/27/2013 - 14:02 | 4194149 orangedrinkandchips
orangedrinkandchips's picture

We have tails! where the fuck is Kevin Henry?

 

Kevin Henry has left the building (obviously)

Wed, 11/27/2013 - 14:17 | 4194153 Trampy
Trampy's picture

Note the second picture with Blake Gwinn wearing a black sweater against which there SHOULD be clearly shown his NY Fed ID "badge" that would show his security credentials either with code lettters or symbolic colors to denote access level and his assigned need-to-know areas.

His badge (and all others') have been obscured ... maybe because it is a felony to photograph a government security badge.  Yes Virgina, the Fed is not federal, but for (multi-levels of) convenience they still probably follow the PSQ 186 procedures for security clearance applications, which, as part of Al Gore's vice-presidential Simplify Government Initiative have been standardized between the multitudes of spy agencies, military, civilian, and nuclear "national security positions" going down all the way to USPS to safeguard its "mail covers," confidential PO Box #s used only for classified mail, etc.

The Fed could easily issue federal security clearances under authority of the Secretary of the Treasury, just as many state and local LEOs are now issued security clearances under authority of Justice Department (sic), and first responders given same per Department of Homeland Security (sic).

In Gwinn's case a security badge should be in clear view on his front upper torso.  These are typically either clipped to the collar wing or shirt pocket, or, as is more common in high-security (SCI) areas where badges are not allowed to be taken home ... they would always be hanging on a neck lanyard at center chest so they are more easily seen, or immediately noticed if missing.

Imagine what it's like to work in an environnment where people look first at the badge and only then at the face.  "But I don't WANT to look at her chest, I have to!"

No matter how it's weared, Gwinn's security badge seems to have been Photoshop'd out with black.  Maybe he was chosen for a photo because he came to work wearing a black sweater.  Is James White's shirt encroaching on Gwinn's chest?  Any Photoshop experts here?

Wed, 11/27/2013 - 14:25 | 4194192 Diplodicus Rex
Diplodicus Rex's picture

Trampy,

Well done, you are vindicated. There is a photoshopped patch on the black jumper in line of sight between his right breast and the upper section of his right forearm. Something has been erased and filled in. For baldy, the only sign of distortion is that the gaps between the first three fingers of his right hand have been filled in with white rather than blue to match his shirt. It is possible that his right hand was in the line of sight between thebadge and the camera.

Wed, 11/27/2013 - 14:10 | 4194168 Trimmed Hedge
Trimmed Hedge's picture

Pizza Hut Manager Says He Was Fired for Refusing to Open on Thanksgiving

http://finance.yahoo.com/news/pizza-hut-manager-says-fired-042328900.html

And Pizza Hut's Facebook page is blowing up because of it!

Wed, 11/27/2013 - 14:15 | 4194181 Missiondweller
Missiondweller's picture

Where's the gold manipulation trading desk? Or is that at the BIS?

Wed, 11/27/2013 - 14:16 | 4194182 Sufiy
Sufiy's picture

Now we know where it is done, plus BIS by all means to add:

 


The Coordinated Effort To Suppress The Gold Price


We have another view - from Europe this time - on the ongoing Gold manipulation, its mechanics and the motivations behind it. UK financial authorities have launched the investigations in the Gold market manipulations now. We do not hold our breath here, but hope that they will get at least this information for consideration.    Manipulation is conducted on everyday basis with the aim to drive the Gold fixing price in London down and get access to physical Gold, which could be sold at a premium at the next trading day in Asia. "This arbitrage" was a normal source of profit for LBMA banks, but now starting from April of this year we have the additional waterfall smashing of Gold in order to manipulate the QE inflation expectations in the market. http://sufiy.blogspot.co.uk/2013/11/the-coordinated-effort-to-suppress-g...

Wed, 11/27/2013 - 14:21 | 4194188 ebworthen
ebworthen's picture

What?  They used to write things down and talk on the phone?

And I bet the currency was backed by something tangible too.

Those dinosaurs! 

Things are so much better now that accounts can be vaporized and J.P. Morgan made whole with a keystroke!

Get back to work you debt serfs!  The FED and Wall Street need your circumlocutory labor.

Wed, 11/27/2013 - 15:09 | 4194322 AgShaman
AgShaman's picture

Need moar 'Quants' for our Temples

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