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Fed Cancels POMO Due To "System Difficulties"
Ok, what the hell is going on? This is the first POMO ever cancelled in QE/Lite/Twist history. As a reminder, today the Fed was supposed to sell $8 billion in 2013 bonds: a liquidity withdrawing operation. Just how little liquidity is there in the "system"?
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All resources have been diverted to buy stocks.
Hopefully this is the beginning of the end!
Who knows, sometimes a cigar is just a cigar. Maybe the really really was a difficulty with the system. Any bets? Oh I'm sure everything is just fine.
Depends on where it's been.
Don't ask Monica, the Human Humidor.
Note that they didn't say "technical system difficulties" This is about the monetary financial fundamental counterparty liquidity "system" difficulty. A big SYSTEM difficulty.
All the same, it is reasonable to suggest that they didn't want to withdraw US$ liquidity in Fed system with a coupon sale at the same time they're trying to flood Europe with US$ in the new swap price arrangement.
So the Peter Schiff analogy of the Fed trying to empty the deep end of the pool into the shallow end with a teaspoon isn't working eh? Who would have guessed it?
"system Difficulties" also know as, running out of ink.
better run to the store
Actually it says "systems difficulties" which puts an even more mysterious spin on it.
Multiple, interconnected systems? or just computer systems? But this is the trouble with the world of ones and zeroes. That which cn easily be created can similarly easily be destroyed.
ORI
/the-plan/
Look some of these computer thingys are pretty fuckin complex. They don't work ALL the time you know, and sometimes they break down, that's all...
Could have happened to anyone. And anyway, how could anyone possibly have foreseen this?
Act of god if you ask me. or maybe they're having a bit of difficulty 'doing gods work'?
I think it is a typo -- they meant to say "due to systemic difficulties."
Pretty soon, the message will read:
We'll soon learn that Thomas Jefferson designed and seeded an algorithm named Minute Man Eagle Eye that will overtake Federal Reserve black boxes and implement a program titled 'Operation Rothschild Killshot.'
maybe that can be the next National Treasure movie!
They come out with a hint of chocolate, spices, and Summers Eve.
The only thing that happened is that the Fed Board wanted to take a day off to soak in the fact that they are now determining WORLD interest rates.
or maybe they're taking some time out to count up how much money they've made insider trading since Monday...
We had 10 days before Doomsday.
http://www.ft.com/intl/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html...
Let's see if all thes Central Bank interventions can save us from midnight.
When playing chicken with math, only person that gets goosed is the one that ganders too long.
Figured I'd throw my hat into this week's bad pun run
When the latest form of easing (increasing swap line liquidity) precludes carrying on with the already in place form of easing (operation twist), you bet your sweet ass there are some SYSTEM DIFFICULTIES.
Not just minor glitches either.
Damnit! But the kukris are on back order!
Sharpened and lightly oiled mine last month. They are worth the wait.
Is Barry still making an appearance with Bieber at the NYC Tree lighting tonight? Clueless mongrel.
I hear Barry likes fresh meat!
Ain't fresh if Usher tapped it already.
Twist not going as planned ?
Bad dancer in the line-up ?
do you really want to see janet napolitano pole dancing?
Yes!! I would like confirmation as to whether she is a he.
If it looks like stale ground beef, it's difficult to tell sometimes.
They can go ahead and buy all these worthless equities all they like, Im sitting back laughing.
Me too dog... Larry kudlow's blue in the face, he's apoplectic, he can't understand why we're not buying it...! hahahahahaha. It's going down. Accept it you dumb fucks! the whole charade crumbling like the temple of doom. And I sit here watching in a fit of hilarity...
AW theyre mad we're not doing a 'Black Friday' in the markets?
Something's definitely up because oil, euro, and PMs aren't nearly as enthused as dumbass equities. And then you add the fact that some corrupt pieces of shit got advance notice so this is Day 3 of a bullshit rally.
Wow, first the Fed couldn't afford to wait for the market to crash to announce the next intervention, and now we find out there isn't enough money for an 8B POMO to be considered safe????
Time to brush up on the history of the 1907 crash here Tyler. A liquidity crunch brought the house down then.
http://en.wikipedia.org/wiki/Panic_of_1907
All the CNBC guys have their jackets on...something is brewing...
Most people do dress up for funerals you know?
Well, the dumbshit military just drone-bombed another Pakistani site. Needless to say, Pakistan is PISSED!
Russian and Chinese boots on the ground in the US by Friday, folks!!
Maybe they just want to do a little Christmas shopping...
think of modern market liquidity like the tar sands. It's in there but it's worth a lot less, it's a bitch to get out, and there's a lot of angry people standing in your way.
Well said.
had to lend ink to Greece.
LULZ, BITCHZ!!!!!!!!!!
That's ok, Timmay doesn't need the money. He can dip into the Fed employee pension fund. Then he can dip into Social Security. Then he can trade your 401k and pension balances for treasurys. Then he can tell you to STFU and take it like a man.
It has reached the point where the central bankers are literally buying up as much soverign debt as is being issued, and liquidity is STILL drying up. That should scare the crap out of the central bank cartel, but no matter, they can always fire up their G650s.
No worries. Obama's all over it.
http://sports.yahoo.com/nba/blog/ball_dont_lie/post/President-Obama-has-...
A bunch of conspiring, thieving scumbags they are
No, it means something happened to the grand plans of the central banks.
I meant to say that you can never know what they're really up to ("system difficulties" my ass) while they're setting up their next trade.
They're having difficulties with the whole ponzi system.
ping ponzi
God I hope so. Controlled demolition not going as planned for the wise ones?
After this mornings announcements, including the usual drivel on employment and housing, this is not the straw that broke the camels back, it's a lead pipe across the head.
They shovel money into the system that only requires more money to fund the money for the liquidity. The usual fall back point was stickign their hands in the pension cookie jar. That's empty, it's been spent, all of it obviously to the point where they need the printing presses rolling to just move the market.
Bet anything the market closes early this week or it's frozen in trades. The market takes the que and starts to price in the printing, if you are looking at 12k on DJIA that all because of physical materials. Gold, Silver, Oil, Food. The jump happens, then all prior contracts are now albatrosses hanging around the populations necks. This in turn forces the central banks to print more to calm REAL inflation, not their made up bullshit.
But you get a guy that makes materials and goods, we just shake our heads at the offers until the central banks stop acting like the world is infinite and figure out REAL value versus the pretend paper trade. paper trade catches up to real pricing, and then they start to print again because liquidity dries up in the system. Again.
As the debts get higher and higher so does the need for MORE money and lower interest, the time between bailouts gets smaller and smaller and smaller. Eventually you get boxed into a Zimbabwe type scenario. Blow job for two eggs. Nugget of gold for bread. Value goes into a deep and weird hole labeled chaos.
Now does that work in reverse also? I mean, can I get a blowjob for two eggs? I have a farm.
Give it time.
from a human or a chicken?
Lots of livestock theft in my part of England. My neighbour had 120 sheep taken last night. This is new, last couple of years machinery has been the target of very organised and violent gangs. Now its food, all happening pretty fast.
....Blow job for two eggs.
Long hens
Or, exactly as planned!
It's amazing how few can see this. Clues scattered everywhere but they still think it was an accident.
"No, it means something happened to the grand plans of the central banks."
Good point. Like suggest or hint they would like to abandon the Euro?
Pomocidal maniacs.
A bunch of conspiring, thieving scumbags they are ...SO TELL ME SOMETHING I DON'T ALREADY KNOW ! I'M WORRIED !
I see a goverment troll,or a banker,or/both,gave you a red arrow for your honesty.
Bankers and gov. trolls can not handle honesty.
It is their enemy.
Hang in there lynnybee,you seem like one of the strong ones.
Imagine what the weak,sheered sheep,still have to wake up too.
At least you have seen the light,and it's pretty dark,eh.
But how can you "unsee it"...?
Peace.
don't get stressed, lynny
everybody cancels stuff, alllll the time, according to my last gf when she changed her minds
here is a short video of the reasons this got cancelled: The Blues Brothers - Jake's Excuses - YouTube
popcorn?
Either you are getting more lucid or I'm losing even more of my mind than I thought. Either way leads to enlightenment.
Look at PMs,
Paper trade and physical are off by a huge margin. They can't print it fast enough anymore.
But they'll try...
I think you are being optimistic.
Me too,
The numbers I'm attempting to run against all of this I'm just seeing a faster rate of systemic entropy happening. Next POMO has to be quadrupal or nothing.
Ha! It might mean everybody is taking new found liquidity and started buying gold with it.
Now that, would be funny.
this is getting gooooooooood
French Banking System Swap Collapsed...
No collateral for French Banks-
France RATING is KAPUT
AU REVOIR SARKO
No good collateral? Just like Lehman?
This is the end, my beautiful friend, the end. -Jim Morrison.
You are absolutely right.
http://www.youtube.com/watch?v=msyl5BxL9M8
Someday this war is going to end.
http://www.youtube.com/watch?v=sBksHaTQCbU
My head hurts...
Printer JAM???
Wait - Fed to sell assets??? Does not compute...does not compute. VOID.
Quite possibly a printer fire; the way they've been running the fucker at full speed without a break, the parts that actually contact the linen are probably red hot.
Uh ohhh...anybody notice BAC is rolling over!!! Look for "extraordinary" help shortly???
Who could know? However, one thing that IS going on right now is the destruction of world market credibility...as well as a potentially lethal blow to free market capitalism.
Capitalism? You call this capitalism?
Cdad is one of the few that don't use the whole sarc/ thing.
CPL noted:
I'd call it capitalschism (and a lot of other impolite unpleasantries as well).
I call it scalpe-it-alism and your dealing with scalpe-it-alists.
I'd suggest you watch this short subject on scalping: http://www.youtube.com/watch?v=nVOoABcgWYE
I say we put these guys in charge of prosecuting the scalpitalists.
I am talking about the fleeting remnants of capitalism left within our crony capitalistic system.
Cdad thats it bottom line, theyve destroyed any trust in markets, killed the golden goose.
I don't know about that. I still know Baby Boomers that are dumping money into their 401k's, savings accounts at the banks, buying real estate, and all of that nonsense. I believe the generation behind them would be doing the same if they had any ecess capital.
Really? Most of the 'Baby Boomers' I know among family and friends are crying that their 401K sucks, and since they CANT sell their house and drastically downsize, are moving in with their kids. That is, the kids who have a place to live still anyway.
Yeah, but I live in a world where out county only see 6% unemployment and people around me still think that with hard work ethic and determination you can make things happen. They, the boomers I know and work with, are still are making more than their bills. Sadly, that will be ending for many of them.
Same here for the most part... our locale has not had its come-uppance yet... every day I am in shock that we're holding up so well as compared to the macro... I can't help but think that at some time, in the near future, the macro will start to weigh on the micro.
Dr....... GenXer's are not buying real estate...Atleast not yet...And the Millennials have no $ and no jobs...
Whether or not Ben Bernanke knows this about the death of credibility...unknown. He may be circulating an email right now to J. Dimon and the squid to sell the rally...such as he told them to buy the dip on Monday, I guess. With credibility dead, capital will not form, and so the only capital left is that which B. Bernake prints.
Boomers have to be net sellers, Xr's are broke and losing their jobs, and younger generations are looking around at th Ponzi and gathering around R. Paul...or are Occupying Wall Street.
Until such time as these mega banks are finally broken up [including the FED], there will be NO solution, and the Greater American Depression will roll on.
Hope all of you out there have been stocking up on food stuffs. This will only get uglier and uglier.
they're right about one thing, we are at war. Please do not give up your civil liberties for food. Food resiliency is your greatest weapon. Work together, take them out.
Commie Dad ? You be a Socialist lurker ? Capitalism is being vindicated every day after years of neglect ! What planet are you living on ? Socialism destroyed the Socialist economies and did horrendous damage to what little Capitalism ever existed ! Now is the time to explore Capitalism.....it works every time it's tried ! Monedas 2011 Comedy Jihad Socialism Eradication 5 Year Plan !
Capitalism? Yeah, sort of Soviet Union, top down style capitalism. I believe we used to call that a command economy when the CCCP was doing it.
Now the new norm for the Fed is GDP targeting. Ain't America great! We just began this new GDP targeting program and already the Dow is up over 400! Our bankers and Fed are certainly getting the economy whipped into shape now. :)
Even the Fed doesn't trust the Fed. The ultimate liquidity/solvency problem. Winning! How do you say it again? Oh yeah, "bidless".
Pretty sure we are dealing with a spelling error - "Cancelled due to Systemic Difficulties"
I didn't expect it
It was cancelled because the FED can't buy treasuries right now......they are too busy bailing out the EZ.
CREDIT AGRICOLE DEFAULTS with Peterssen Rulez
Manhattan, we have a problem.
Paris, u have tons of problems coming...
Wien the same....
System Difficulties my ass
I bet my dick that if the DOW was down 400 points there would be no "System Difficulties"
With any luck "systems difficulties" means "System difficulties" as in "the System".
Look at the 5 day on the DOW.
Ridiculous.
look at the 1 yr, nauseating.
How many Standard Deviations is "Never" ?
Let me guess...4+
Actually it +9 but its funny how something statistically "never-gonna-happen" happens
Ok I am feeling better, by the time Tyler the man with 1000x my comprehension is baffled by bullshit I need no longer feel foolish! I decided this morning to keep my shorts through this. I have decided to keep my shorts on, I cannot help but think I might make a once in a lifetime sum on them, but I really didn't have much to lose anyway.
I'm keeping my shorts too. The bigger the rise the harder the fall right?
since august i m keeping my short...
Y2k problems?
Brain Sack is backed up?
Minsky moment?
Everyone at the Saks sale?
http://www.youtube.com/watch?v=wI2sy3i5Rvc&feature=player_detailpage
pomo non-convexities
The printing press is just out of ink ... they have sent someone to Office Depot to get some, they'll be back up and running in a bit.
No, their Amazon subscribe and save shipment has been delayed due to the Cyber Monday shipping.
I have no idea how any of us who pay attention are sane. I don't know what's worse being a part of the matrix and not knowing or being unplugged and constantly,on a daily basis, astounded.
I think we had to be insane to pay attention in the first place.
You have not broken free of it yet if it still astounds you.
I disagree with you there. What's astounding is the fact that they can keep this together all the while the sheeple sleep peacefully.
Dig deeper and you will realize that the only thing that can now astound you is that the rabbit hole has no end.
It's like watching WWE or WWF wrastlin' really. At this point it is entertainment value for me. We know where this match is going. It's the after party that I am looking foward to right now.
Global debt jubilee party...got my party favors in hand.
Plug me back in and make me a rockstar showered in pussy. I'm sick of reality.
If I snort a blue pill does that undo the effects of the red pill?
No. You get one pill.
tried that, all it did was burn the shit out of that side of my nose. it can't just be a blue pill, it has to be The Blue Pill for it to work.
This is all by design. There's a reason why the vast majority of people pay more attention to the Kardashians, Jersey Shore, Dancing with the Stars, etc. than they do to geopolitical events, monetary and fiscal policy, etc. These problems we face are so outrageous that the Sheeple can't even comprehend what the fuck is going on. Ask someone on the street about ZIRP, QE, POMO, FX swap lines, etc. and they'll just stare blankly at you.
Well duh. Even I don't name the animals we slaughter.
I know. I talk to clients and try to explain some of the workings in the markets and I can see their brain start to short circuit. Many times in "sophistcated investors" too. All they see is whether the market is up or down.
Of course they cancelled it, instead of selilng bonds to raise money, they printed it instead. Well done.
Expediates the whole process right along...
Why beat a dead horse?
To tenderize it.
Storm in a teacup.
I gleefully await the day your ass is a smoking hole of ruin.
The morning after he meets Jerry Sandusky.
Cold, man. Darn cold.
Be honest: the CB's saved the day and the markets.
Be honest: CB's saving the day, and the markets, implies there is a crisis.
Would have caused an endless loop and crashed the Atari running the system.
They don't need POMO today. The market is soring. They will save it for the give back.
<<...market is soring>>
As in "hurting"? Is that a Freudian slip?
Does that mean short the Market?
This goofy pump-job probably has a 48 hour lifespan tops.
Ask MF Global clients if trading in this market is sane. Unless you course you mean short the market by buying physical and taking delivery.
Thats the only sane thing to do! Along with buying food and ammo, however the senate just passed a bill essentially making all that illegal. '7 days worth of food 'stockpiled' in your house, ammo stored, PM purchases' targets you as a terrorist.
I REALLY hope that's sarcasm.
No sarcasm ...
?? WTF??
wow, we must be on the verge of a collapse.. this is out of hand, layering in more shorts...
no one has the money to buy the $8 bil of USG bonds, this is a FAILED US BOND auction.
If you don't show up for a scheduled game, do you forfeit ?
If a 50% haircut is not a credit event, what kind of event is it?