Fed Cancels POMO Due To "System Difficulties"

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Wed, 11/30/2011 - 12:34 | 1930631 YesWeKahn
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All resources have been diverted to buy stocks.

Wed, 11/30/2011 - 12:38 | 1930675 Fukushima Sam
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Hopefully this is the beginning of the end!

Wed, 11/30/2011 - 12:42 | 1930712 DeadFred
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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.

Wed, 11/30/2011 - 12:43 | 1930729 hunglow
hunglow's picture

Depends on where it's been.

Wed, 11/30/2011 - 12:44 | 1930738 SokPOTUS
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Don't ask Monica, the Human Humidor.

Wed, 11/30/2011 - 12:50 | 1930822 Cleanclog
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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.   

Wed, 11/30/2011 - 12:52 | 1930841 Dr. Richard Head
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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?

Wed, 11/30/2011 - 13:10 | 1930950 camaro68ss
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"system Difficulties" also know as, running out of ink.

better run to the store

Wed, 11/30/2011 - 13:30 | 1931060 Oh regional Indian
Oh regional Indian's picture

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.



Wed, 11/30/2011 - 13:52 | 1931153 Harlequin001
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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'?

Wed, 11/30/2011 - 13:54 | 1931174 Bastiat
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I think it is a typo -- they meant to say "due to systemic difficulties."

Wed, 11/30/2011 - 15:48 | 1931826 TruthInSunshine
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Pretty soon, the message will read:


I'm sorry, Ben, I'm afraid I can't do that.


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.'

Wed, 11/30/2011 - 16:10 | 1931976 end da fed
end da fed's picture

maybe that can be the next National Treasure movie!

Wed, 11/30/2011 - 12:51 | 1930828 The Big Ching-aso
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They come out with a hint of chocolate, spices, and Summers Eve.

Wed, 11/30/2011 - 12:49 | 1930798 Mr Lennon Hendrix
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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.

Wed, 11/30/2011 - 13:54 | 1931175 Harlequin001
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or maybe they're taking some time out to count up how much money they've made insider trading since Monday...

Wed, 11/30/2011 - 12:56 | 1930858 DormRoom
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We had 10 days before Doomsday.




Let's see if all thes Central Bank interventions can save us from midnight.

Wed, 11/30/2011 - 13:22 | 1931015 CPL
CPL's picture

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

Wed, 11/30/2011 - 13:15 | 1930974 Sunset chaser
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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.

Wed, 11/30/2011 - 12:42 | 1930721 tarsubil
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Damnit! But the kukris are on back order!

Wed, 11/30/2011 - 14:16 | 1931312 Shell Game
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Sharpened and lightly oiled mine last month. They are worth the wait.

Wed, 11/30/2011 - 13:13 | 1930962 Momauguin Joe
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Is Barry still making an appearance with Bieber at the NYC Tree lighting tonight? Clueless mongrel.

Wed, 11/30/2011 - 13:40 | 1931114 my puppy for prez
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I hear Barry likes fresh meat!

Wed, 11/30/2011 - 14:02 | 1931206 Momauguin Joe
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Ain't fresh if Usher tapped it already.

Wed, 11/30/2011 - 12:39 | 1930683 whatsinaname
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Twist not going as planned ?

Bad dancer in the line-up ?

Wed, 11/30/2011 - 12:44 | 1930744 sabra1
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do you really want to see janet napolitano pole dancing?

Wed, 11/30/2011 - 12:49 | 1930796 Janice
Janice's picture

Yes!! I would like confirmation as to whether she is a he.

Wed, 11/30/2011 - 13:07 | 1930938 Momauguin Joe
Momauguin Joe's picture

If it looks like stale ground beef, it's difficult to tell sometimes.

Wed, 11/30/2011 - 12:40 | 1930694 SheepDog-One
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They can go ahead and buy all these worthless equities all they like, Im sitting back laughing.

Wed, 11/30/2011 - 12:47 | 1930778 jdelano
jdelano's picture

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...

Wed, 11/30/2011 - 12:51 | 1930827 SheepDog-One
SheepDog-One's picture

AW theyre mad we're not doing a 'Black Friday' in the markets? 

Wed, 11/30/2011 - 13:21 | 1931010 Ragnar24
Ragnar24's picture

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.

Wed, 11/30/2011 - 12:48 | 1930786 Sunset chaser
Sunset chaser's picture

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.


Wed, 11/30/2011 - 12:49 | 1930809 c'mon man
c'mon man's picture

All the CNBC guys have their jackets on...something is brewing...

Wed, 11/30/2011 - 12:55 | 1930864 Dr. Richard Head
Dr. Richard Head's picture

Most people do dress up for funerals you know?

Wed, 11/30/2011 - 13:44 | 1931137 my puppy for prez
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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...

Wed, 11/30/2011 - 12:56 | 1930867 DaveyJones
DaveyJones's picture

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.

Wed, 11/30/2011 - 13:33 | 1931073 CPL
CPL's picture

Well said.

Wed, 11/30/2011 - 13:31 | 1931065 Deadpool
Deadpool's picture

had to lend ink to Greece.

Wed, 11/30/2011 - 12:34 | 1930634 kito
kito's picture

LULZ, BITCHZ!!!!!!!!!!

Wed, 11/30/2011 - 13:03 | 1930916 Sancho Ponzi
Sancho Ponzi's picture

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.

Wed, 11/30/2011 - 12:34 | 1930636 Non Passaran
Non Passaran's picture

A bunch of conspiring, thieving scumbags they are

Wed, 11/30/2011 - 12:37 | 1930658 CPL
CPL's picture

No, it means something happened to the grand plans of the central banks.

Wed, 11/30/2011 - 12:40 | 1930689 Non Passaran
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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.

Wed, 11/30/2011 - 12:46 | 1930758 i-dog
i-dog's picture

They're having difficulties with the whole ponzi system.

Wed, 11/30/2011 - 12:58 | 1930888 DaveyJones
DaveyJones's picture

ping ponzi

Wed, 11/30/2011 - 12:44 | 1930741 Dr. Richard Head
Dr. Richard Head's picture

God I hope so.  Controlled demolition not going as planned for the wise ones?

Wed, 11/30/2011 - 13:08 | 1930940 CPL
CPL's picture

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.

Wed, 11/30/2011 - 13:12 | 1930959 GeneMarchbanks
GeneMarchbanks's picture

Now does that work in reverse also? I mean, can I get a blowjob for two eggs? I have a farm.

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