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Epic Failure In Fed's Price Stability Mandate As Treasury Curve Shift Is Most Abnormal In 30 Years
As Diapason's Sean Corrigan demonstrates, the Fed has failed at not only every single explicit mandate, such as keepin inflation and unemployment under control, but in its most important implicit one as well, that of preserving price stability, following an 8 week 2s30s curve shift which has been the greatest such move in 30 years, and a nearly 3 sigma event. 3 SIGMA... In boring government bonds...
Chart: Bloomberg
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Bernake is a fucking dirt bag in bed with the loser ass Obama admin. Fuck him, hope he gets hit by a car.
But let's not stoop to their level. Think we are all better than that.
IWM closing at 66.66 WTF
You might be better than that but I'm not.
The Bernank sayeth loudly:
Well then how about a very small car that only bumps him hard in the crotch?
Only silver whisle blowers get hit by cars.
Spitzer you magnificent bastard.. you owe me a new keyboard.. :)
He's just doing his part to stimulate the economy.
^--- Great comments in this subthread!
"Most" abnormal in 30 years is the new normal.
Will this be another way to funnel to Primary Dealers - the big banks - again? If almost everything with a maturity longer than 5 years is due to be neutralized by Fed buying after the fact . . . will dealers gobble up the auctions with a wink and a nod that they'll be taken out of those same positions in ensuing days? Let's watch. Certainly could be. What does Mr. Pimco say?
Cut them some slack,
they're doing there best to stabilize prices, (PM prices)
Why should short term money have all the fun?
A dying currency need a little verve on the way out.
http://www.youtube.com/watch?v=eq-yoorI7lo
Economy lobotomy
Did a little "percussive maintenace" myself....on the FED nothingburger, commods selling off, equities hammered.
Fuck you Bernank you're a fucking maniac.
New financial instrument, keyboard-backed IOU. New unit issued every time someone spills coffee on his keyboard.
"silver whisle" - is that a euphanism for something, Client #9? was that your favorite?
Adrian Douglas.
Speaking of Ag, JP Morgue hitting new lows = silver spike imminent?
That was beautiful. Ended on a new 52 week low. Silver:JPM now 1.3066.
fuu,
Just the dude I was looking for. This ratio of yours, you're a big beliver eh? So tell me any chance they unwind the silver short soon?
The ratio is too simplistic to be all that meaningful. I just enjoy watching it change.
I am not convinced they are short.
I think they unwound a ton of their silver shorts in May
I tend to agree.
Small potatoes. That was an overture.
I'll smoke an ounce to that!!!!!
someone will be texting they boyfriend and will hit the fucking mutt....fuck drunk driving...text driving is worse!
join one or more barter clubs and hide your gold and other metals.
http://covert3.wordpress.com
Winning !
Ben Bubbles&Bananas Bernanke Broke All Markets.
Good job, Bennie Boy!
*News reports (unconfirmed at this time) that Paul Krugman, upon hearing the announcement, tried to commit suicide by jumping from a 1st floor window in the NYT Building.
Abby who?
http://www.youtube.com/watch?v=dQ_pKqiB5Rg
sed-a-give
Abby. Abby Nooormal.
Duh
Century of "American Nightmare".
FED just won the all-star *fail* trophy.
three standard deviations... is that all you got Bernank?
I know right? I thought the mandate-du-jour was to go big or go home, 7 sigma at least.
Unintended consequences. I have a feeling we will be hearing that term more and more as desperate measures
become the game plan in the final days before " THE GREAT COLLAPSE "
Prints - market starting to go down big.
Frankly, this is good. Deflation is here, everything will drop. Everything. Including gold, silver. Let the debt destruction commence, dollar rises.
200 points aint big.
QE holding up the markets has been the meme for a long time here and in the metals community. We have not had overt QE, so we need a real plunge in the markets or all of us have been wrong.
Did they hint/cock tease more overt QE in the statement for some later date? They really feathered the market's testes with that at Jackson Hole.
Was going to be bigger than 200, we have to be close to 300 by now, the sell orders were coming fast and furious at the close.
Still not terribly impressed. Lets hope for a continued market sell off this week in epic fashion.
.
Deflation helps me.
UCF
Hugh is that you ?
You know I see this as a sideline...I think they are rushing back to work on the European problem right now...that is front and center...a trillion or two there first to save those funny speaking bankers over there...over there...la de da
If it was the Fed's plan to strengthen the dollar, then it looks like a great success.
Stax yes
All this to what...get the already 60 year low mortgage rates to 0.5% desperately believing that will kickstart home prices? Clueless
People refinance, more cash each month, more demand for Margarittavilles, economic recovery. So simple! I'm using my extra cash for Au, H2O, and Pb so I'm going to be left out of this partay. :(
Momos are clutching to Robo's favourite names with everything they got. As robo says, safe havens to be found in US treasuries and triple-digit PE consumer bets like AMZN and GMCR. Insane.
Please move single file toward the exits, no need to panic we can all get through...
ahh, fire!
It is mind boggling to me that anyone would sell their gold at this time as the carnage continues.
I don't care how high the dollar goes. It is broken, and cannot be fixed. Just biding my time, again.
Geesh, look at those interest rates.
Traders move the markets remember... Not investors.
BTFD says Marc Faber.
"I should add that for the investor, who has a well-diversified portfolio of assets and has high cash flow (personal income and income from investments), downside volatility offers an opportunity to acquire assets at distressed prices or add to his positions at a more favorable entry point.
However, for the investor without any free cash flow, downside volatility can be extremely problematic because the option to increase positions at distressed prices is not available to him."
Marc Faber is really Captain Obvious? What a surprise.
Weren't precious metals supposed to RISE on these news?!
Not if you understand we are in a deflationary environment, and bank debt i.e. credit greatly exceeds printed dollars. If they print, PMs up. If not, lower.
We didnt get QE, so no.. Its why I was begging for QE.
The market would be down much more if TBTF's and PPT were not selling paper PM's to stop the drop. You might also note with oil that WTI is down much more than Brent. Brent is only down 1/4%. WTI means nothing anymore.....just an extend and pretend billboard.
Hey, isn't there a greek teleconference today? Or some rumor to ramp markets 100 pts into the close?
It was cancelled.
Austerity means they no longer get call waiting or conference calling.
A small group of ambitious men, most of them Jewish, have plotted and are finalizing plans to take over, dominate, and control the money and resources of the world. There’s no evidence whatever that this statement, falsely called theory, is anything but crystal truth. And in their quest these men reason that the best way to rule the world is to accumulate and control its wealth.
The economic system they’ve attempted to put in place is Keynesian, is socialistic, and now it’s beginning to fall apart. Big Time.
These bailouts are not for the country or the citizens, but are to replenish the power of the banks that took horrific, world-boggling financial risk, and lost.
The private owners of the Fed are stealing from 90 percent of the people; and for the man in the lower 47 percent who pays no taxes, they are stealing his future; it won’t be long before there will be even fewer employers to employ him.
The thing is, isn't this the outcome we want? It would have been better if the Fed just announced nothing at all, but a stronger dollar will help America. The big banks dying will help America.
The America I am talking about is not the cheap money debt fueled paper billionaire America, but the work hard, build something of value, not everyone needs to be a millionaire America.
The Forbes billionaire list that came out was such a total joke. Most of the people on the list aren't actually billionaires yet. They are only worth billions on paper when they eventually get to sell their shares. If Facebook never goes public how much money does Zuckerpuke actually have?
When your value is only on paper, you actually have no value.
It also helps China, as they're dollar holdings increase in value, letting them corner off more assets at much cheaper prices.
Plus its going to do wonders for its trade surplus.
What have you built that is "of value"?
"de-Transitory"
I coined that just now.
basically, it means "out of bullets" or "ineffective stimulus".
I'm working on "Transitoryflationist".
I'm not sure what it means, but Ben's picture will be there next to it.....
Cramer said "U" vs. "V" recovery, Buy!-Buy!-Buy!...or is it Bye-Bye-Bye?
With all my respect, Bernanke is an idiot.
bernanke
and respect
in same thought.....
oxymoron
IQ45??? Staxx???? you guys still long and strong??? LMFAO!
How's that "up $12,000 on SPY" trade going for ya IQ45????? Let me guess, sold at the top right????? trolololololololololololololololololololol
schadenfreude! try it, it's tasty!
F$$$ this market. A lot of stocks are cheap but they are not finished going DOWN!
Praying for momentum to build on the downside. Hope it all blows straight to hell.
What does a "pancake" curve mean? Does this include no syrup?
No berries....no whipped cream?
http://www.youtube.com/watch?v=DZAtzcthSxM
The stabilité in the ¥ is breathtaking.
Bernank is not an idiot. Try to remember what he and the gang are after: Your money! Look at the beauty of the scam: Oh we gotta depress the bond down to nothing to save the world. Everybody into the long bond!!!!
Next scene, act III: Oh now we have to raise interest rates to save the world from runaway inflation. Everybody quick got out of the bond before it tanks!!!! Wow, that was close, but we saved the world ( again ).
just like george carlin said. they want it all. they want it all.
come on ben. we can't make it without your help. please help us so we can survive............help..........help.............can you all believe all of this bullshit? unbelievable.......
it's 12 after.. has Leo been fired yet?
Welcome to the depression, bitchez! Nervous?
your mom is.
Two words: Sop bread.
Learn it, live it, love it.
So Moody downgraded banks before the Fed announcement...don't suppose they had a heads up? The flattening is extremely dangerous to weak banks...were the sacraficial cows just announced? Power and wealth being concentrated? I smell a set up.
If true this tells me things are about to get much much worse. Thus a sacrafice(s) must be made satisfy the people and prevent wide spread riots.
How is the twist good for us? Yeah, sure, the world doesn't end today, but.... Can somebody tell me? My degrees in accounting and finance aren't helping me figure out how this is nothing more than a slow motion train wreck.
The Markets are really creating some major technical damage to the downside. The bulls are losing many of their levels that they previously defended. It appears that we will revisit the August lows on the S&P really soon. Here is a summary: S&P/ES down http://bit.ly/nlr4c9, EURUSD, down http://bit.ly/oYIfxA, Crude Oil/CL down http://bit.ly/of1zer, Gold/GC down http://bit.ly/q03yyU, and USD up http://bit.ly/qwB3Ab. Just as expected after the Bernank.
SD 1 and VC with a nice call on NO QE, This was based on the fed being boxed in in a stagflationary environment.
No pomo or expansion of the balance sheet the "mothers milk of speculation".. that teet has run dry. It's actually a good call by the bernank, the speculators needed to be weaned off the fed nipple.
I used to think he was just a misguided academic. Every single forecast and policy move has been a complete disaster. I am now starting to think this guy is very malicious and trying to take the place down.
In my twisted, "always the optimist" mind, I like to pretend that Greenspan knew exactly what he was doing as well: pumping the system exactly how it should be pumped to break it.... just to prove a point. Some Randian, 60's era Greenspan point. Then, to feign surprise and regret. :-)