Disappointment With The Fed

Tyler Durden's picture

From Peter Tchir of TF Market Advisors

Disappointment With The Fed

There are lots of things out there that once they have been done, can never be undone. Ben just disappointed the market for the first time. Whether he knew it or not he failed to beat expectations. He has been so good at managing expectations and using that as a policy tool he lost sight of how far ahead of itself the market had gotten. Everyone expected twist and seriously, what's a 100 billion in size between friends in this crazy market.

He downgraded the economy but didn't use that as an excuse to do more. There was no new, ingenious idea. If anything they tried to clarify the commitment to hold rates low til 2013 is dependent on economic conditions remaining weak.  Yet there were still 3 dissenters.

Ben has been a fan of making markets dance to his tune based on expectations. By disappointing some people I expect his ability to keep the market up by talking will be reduced as Investors will need to see action rather than being told vaguely that there could be action. That will take time to play out and even I have to admit he gave us something today, just not enough.

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King_of_simpletons's picture

The Fed should have just announced a $10T stock market bail out instead. 

Clueless Economist's picture

I'd like to twist the neck of that bearded bastard Bernancke and punch that Keynsian creep Krugman in the mouth.

OOONONO's picture

Bernank, Krugster, other financial elites ....  hit them in the wallet - it's the only place that they have nerves - all else (and I mean All Else) is total numb dead meat 

SGS's picture

going short financials in 3....2....1

TruthInSunshine's picture

There are reports that Paul Krugman, upon hearing the news, tried to commit suicide using the paper shredder in his office at the NYT Building.


MachoMan's picture

Reminds me of the guy on bachelor party with tom hanks that was trying to slit his wrists with the electric razor...

Bring the Gold's picture

Fuck Bernanke.

Fuck the FED.

Fuck the Oligarchs.

Fuck this "market".


That is all.

slewie the pi-rat's picture

got it! & i'm w/ ya since waaaay b4 i started blogging, here, B_G!

the benzelbub didn't fail to meet MY expectations!
or tyler's, i wouldn't say, although the overnight rate is to stay in the .25% upper-boung range, and that wasn't lowered, which t.d. himself, i believe, said would be un-wiZe in the ex-treme!

but those squid fuktards were wrong, again! so their "clients" are disappointed? L0L!!!

earth to the the vampire.squid: fuk you, asswipes!

SteveNYC's picture

"Disappointment With The Fed"


"Sympathy for the Devil" ?

caconhma's picture

It is clear that FED are paralyzed by the economic reality and utterly confused what to do about it.

It appears we are approaching a climax leading to disintegration of our economic foundation leading to a political and economic chaos.


He_Who Carried The Sun's picture

The FED should have bought Sino Forest today.

MassDecep's picture

Ben's just waiting for the upcoming Big event to happen. He's having a martini and laughing at the critics of his latest scam speech.

He's saying "Suckers, they just don't know how good they got it right now. Can't wait until all the sheeple are running around with their heads cut off, LOL LOL LOL.Everything going as planned!"

WSP's picture

MassDecep, you pretty much nailed it----cannot add anything to that nor is any needed!

covert's picture

where is my bailout? where is the equality?



junkyardjack's picture

Any humans trading this news in the market yet?  I'd like to know what they think, the machines are still confused. The last 15 minutes are going to be epic

Stoploss's picture

Pull up charts of the EU, Asia indexes, and compare them with the NA indexes.

Therein lies your answer.

Chaffinch's picture

They sure seem happy about something in Brazil ; )

sabra1's picture

nude sunbathing is now permitted for 80 year olds and up!

TruthInSunshine's picture

The Bernank should follow this up with a 250 basis point fed funds rate hike tomorrow.

X.inf.capt's picture

yeah, thier trading,

talked to my coin dealer today.

he's getting crushed with people selling phyisical.

said his wholesaler is not buying, either.

he says even his long term investers are dumping.

whats happening, guys?

Buckaroo Banzai's picture

Trolling is what's happening!

X.inf.capt's picture

no, im dead serious.

thats what he said.

i wanted to know if you guys knew something was up.

Waffen's picture

Well.. IMO..  No QE and markets dont tank means that metal bugs including myself have been wrong.  It also means that TPTB are in control of the markets far more then we care to admit and that metals are going to flatline for a while.

I find this incredibly disapointing.

We metal bugs may be screwed for some time.

X.inf.capt's picture

he said silver, not gold

mostly bars.

god, i wanred to know if you guys saw something

Motley Fool's picture

That makes sense then.

Still you will be given a lotta grief on ZH for even mentioning silver negatively. :P

Read this if you want :


X.inf.capt's picture

thanks, motley, good story


remind me never to ask a question like that again on a metals thread.

im still bleeding from that one

i got dog-piled.....

Idiot Savant's picture

A bunch of newbies started buying silver when it was running up to $50.00 a few months ago. I'm guessing it's the same people who are now selling - weak hands. It's nothing to worry about.

X.inf.capt's picture

o.k. just got back from dealer, this is what i saw


alot of 100oz, and 10oz silver bars.

hesaid about a third of his trasactions are people trading up from silver to gold,

and his wholesaler said hes buried with bars, so hes holding off buying these for about 3 weeks, but he is buying.

said alot of these people bought higher than what there selling for.

said demand for 1oz silver and gold is strong.

but the bigger bars are not in demand.

p.s. went to buy dimes.

DosZap's picture


For NOW, Gold is off not even 1.50%,and Silver is off only .23%,this is not 2008.

People KNOW there is no other way to protect their life savings,this is it.

Folks here are HOLDERS,folks dumping are insane,and have bought for the wrong reasons.

If the prices drop 20%,or more, the prems will go out of sigt, as WE are the smallest PM player on the block,compared to the East.They will suck up anything at or below $1,700.00/$33/35.00.

And once the metal moves  overseas (as it already is, it ain't ever coming back this way again).


JohnG's picture

Yep, and..all that paper is coming back, bonds go no bid, Ben quickly prints us into hyperinflation, and it all collapses.

Got food?

X.inf.capt's picture

no kidding,

i sure aint selling mine!

just wanted to know if something was up?

wisefool's picture

Why in the world would you be worried if you have it in your posession, and you have the marketing skills to trade it for other things as nesecary?

Waffen's picture

because much of my family were late comers to silver, and will continue to give me a shit ton of greif.

in addtion, it means that this charade will continue for who knows how long.

lastly, it means I probably have to sell my january calls.

xtop23's picture

 Tell em youll buy all their metal at spot then if theyre so concerned . Shit man Ill buy it if you dont want it. PM's are a long term play. Tell em to bury that crap in the gd yard and forget about it and to stop being pussies.

Waffen's picture

We aren't selling.  Its hard to tell my female family members to not be pussies when in fact they are pussy carrying sandwich makers.

Motley Fool's picture


You sir must be a paper bug.

Sale on.

Waffen's picture

no.. 95% of my assets are in hard metal but a flatline metals price through the fall would be a screwing imo.

Motley Fool's picture

The fall? Why? Do you plan on selling some? Or are you buying more?

Citxmech's picture

The longer the inevitable future takes to get here, the more prepared I'll be.

No worries.  Keep on Stackin'.

DogSlime's picture

It's mad isn't it?  All those people with barrows full of coins queueing up outside the coin dealers and flooding ebay?

A guy was so desperate to get rid of some, he stopped me in the street and PAID me to take them from him.  I only had a soiled handkerchief, but he seemed happy to have got that.

Amazing.  Everyone with PMs is just offloading.

xtop23's picture

God I hope so. Id love to have a window of Gold @ $1500 and Silver @ $25 Id start selling blood and semen if I had to.

All I can say is if they give me that kinda gift, when this finally takes off Ill be able to buy my own island and a Bugatti........

Or Ill be the only guy on my block with a full belly and an ox cart. Sorta depends how it plays out I suppose.

Bring the Gold's picture

I would be careful offering to get money for "blood and semen" around here. You might not like the terms of the deal.

Smiddywesson's picture

"talked to my coin dealer today.

he's getting crushed with people selling phyisical.

said his wholesaler is not buying, either.

he says even his long term investers are dumping."

Nice try.  Coin dealers make money off the spread, they don't care if you buy or sell, they just care that you come in the door.  The same goes for their wholesalers.  With gold refusing to stay below $1800, no long term holders of physical are dumping.  None.

You've been a member here for less than a month and then you make a paid troll comment like that?  You have 6 pages of comments, nice try, troll.

Spigot's picture

"spread" which means he has to sell to someone else for more than he paid for it...notice the "wholesaler not buying" datum...

SilverDosed's picture

Either his coin dealer is lying, he's lying, or they're both morons. My wholesalers are buying, they are ALWAYS buying, it is their business to buy, even when prices are falling. If they dont buy they go out of business, period.

X.inf.capt's picture

silver bars. its just what i heard, no lie!

i just wanted to know if you guys heard anything.

i sure in hell aint selling my dimes

donsluck's picture

BTFD gold, silver, period. Wholesale deflation will not be permitted. Once again, BTFD.