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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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It is simple; the demand to concurrently buy treasuries and bail out the EZ overwhelmed the FED printing press.
As Livermore might have put it, this and this mornings liquidity announcement are "signed confessions by the Central Banks that not all is well in Oz".
Picking up more out of the money puts today on BAC and MS. If I lose it all, so be it, but set-ups like this don't come around very often.
"omg we can't fucking drain one drip of liquidity from the banking system" Central bank in freakout mode.
The 2% algo upside limit for gold and the $1 up limit for silver is definitely in play; watch criminal manipulation in real time folks. Just look at all the "interventions" on the Kitco charts when the breakout seemingly is about to happen.
is Icarus getting too close to the sun?
No, it's a price thing. They want a better selling point. Today is not good.
Instead the Fed Board is celebrating the fact that world interest rates are now tied to the Fed's overnight window. They wanted to drink instead of work.
Its not exciting or glamorous, but I think you're right about price.
The windows 98 PC they use to handle it needs to restart, but the popups won't go away.
When did they upgrade from 95?
I thought they inherited Madoff's AS 400.
They have the same business requirements.
Just so you know: you can access all banned websites by typing in the ip address instead of using shortcuts or name of website....
Fly got into the teleporter...what will happen to Brundle?
Because crude would promptly go to $200 given then recent fiat flush.
Liquidity is the spoon and the spoon does exist!
Ben's printer is reading "PC LOAD LETTER".
The end is near BITCHEZ!
They don't want to sell today after rates rose. The PPT ed will sell the spike. We all know the one way to trade the market is volatity, and Brian P. Sack also knows this. They will auction the bills for a better price later this week.
Probably running on Windows 7
HOLY SHIT!!!!! My God how bad is this?! This is extremely frightening...No statement by Obama...Market EXPLODES upward so at least the margin calls are currently on hold...My God, how long can this continue...
And on top of it all, the senate just passed the 'Indefinite Detention' bill!
Good work for a SheepDog though, right?
Really?
Pretty sure it specifically exempts citizens and legal residents - I'm OK stepping on the 'rights' of illegals.
"Pretty sure"? Dumbass!
Let's just wait and see how long this "Tepper Rally" lasts, before yet again, the marketbots figure out it's all one giant black hole of increasing debt proportions.
Relative to the size and scope of the interventions, this looks more like a Tepid Rally.
The Fed wants to push this up a bit more. Volume must be light on the 401k's and small traders going fully in. MM's want to unload more overpriced shit before it falls to fair value. I'm looking to put on some short positions after the 3:30pm rally as the CB's just shot their last bullet today. Last thing left in the arsenal is a thermonuclear warhead (QE3).
They don't want to use it in that it will cause violent revolt's as daily life will become too expensive to afford. I still cannot figure out how the fed cannot see that the string has yet to move.
And just think, even with all this all-out ramping, equities are still not even back to 3 week ago levels.
That's when the bottom will drop.
The other end of the string is on fire, and the Fed is pushing all of the string towards it.
The bottom falling out and fiat buying more real goods is a vote for fiat BTW.
I think its BS but thats the reality.
If you want to end the fiat BS, wish for wheelbarrows.
Word of warning.
Bankers only run out of bullets when the real economy doesnt take their paper.
Only hyperinflation has been able to do that in the fiat era.
Which QE3 will cause to the forefront. Inflation is already there in the things that matter.
Yea. Well, that or an *actual* thermonuclear warhead.
Get Xerox and HP on the line, stat!
Could this have anything to do with the S&P downgrade of all but 7 of the Primary Dealers?
It was BAC that was about to fail.
Bought them 2 days, maybe.
The only way we will know is if someone with backbone and who puts the truth first before his/her pocket comes forward.
It'll come out, just takes a few years of FOIA requests being denied first and a lawsuit is filed, then the reporter sending them dies, as was the case at Bloomberg...
You can't afford the truth.
In a few days they will cancel trading of their stock due to "System Difficulties"
Houston ! We have a problem !
What "system?"
This is one giant motherfucking fraud racket!
100% bullshit from top to bottom!
System -- HA! How about a little less denial from you Krasting-worshippers?
Expect rules to change, the rule of law suspended and record fucking bonuses, when no one sees it coming!
There's only one rule at this point. FUCK anyone beneath you. FUCK them hard and FUCK them long. FUCK them until you're able to pay tribute to those FUCKING you and therefore survive a little longer on your unsustainable lifestyle.
Why do you think Clinton, Rubin, Greenspan, Frank and Dodd had the "Bucket Shop" laws recinded?
And I wonder what Rubin and Daley had for lunch this week?
May the Fed print the US dollar towards infinity. Every other hard asset should ramp. Time to attack the US dollar and shy away from US treasuries.
Completely OUT of US treasuries and into liquid cash and PM here.
No one panic, the printer is just a little jammed
http://www.youtube.com/watch?v=5QQdNbvSGok&feature=related
Expect PM's to topple downwards as the need for liquidity spikes.
Expect a fresh infusion of trolls as the PM's price heads up..........
You haven't been watching how the manipulation has been timed. So far, most times that the Fed posits a lack of will for QE, or in this case the lack/delay of POMO (which the reaction to from past reactions has a highprobability of differing only slightly), fiat dollars have flowed from PM paper and into other assets. In the past several hours the price has been upward bound. That's neither good nor bad.
At this stage of the system transition, sane people don't care too much which way the paper price goes. To me it's just an interesting observation, and rather enjoyable to watch recalcitrants like yourself squirm at something that messes with your paradigm you need so badly to confirm. It's soooooo sad that you think a paper price from a corrupt and failing currency has to matter. Sounds like IF you have any physical, then you have no cash, and that makes you very nervous. Are you out of work? Do you not have cash flow?
Breath Mrgneis. Your food stamps are on their way.
I have more than my share of physical and only dabble in paper games. As for food stamps - I have no idea how they work - maybe you can explain them to me. I have been semi-retired since selling my business in my mid-thirties a few years back.........
I just get a laugh when someone thinks they are making astute observations when the underlying premise for such have no basis. For paper gold you may be correct, but for paper silver you need to go back to school.
In a liquidity crisis the best performing assets get sold off - silver is down significantly from Q2 and flat from the end of Q3 - hence not an outperforming asset this year - hence far down the list to be sold off to raise liquidity.
Also, it's kind of funny when someone attempts to harangue you with a vapid argument full of innuendo and insult and attempts to come-off some how as superior yet they cannot even spell the word "breathe".
Everyone on here knows that the strength of an ad hominem attack is usually inversely related to the strength of the associated argument.
You sound like you have been kicked often in life - I feel sorry for you.
No spell checking needed when the fingers are flying. Obviously you understood what was meant.
Kneejerk reaction of ad hominem attacks began with you... "troll". Remember? So as ad hominem goes, you have embraced your own hypocrisy.
also, see; re·cal·ci·trant (r -k l s -tr nt). adj. Marked by stubborn resistance to and defiance of guidance.
But back to the main point...
why do you care so much what an observation and prognosis of direction of paper PM's are?
You know why.
Next, Ag is up 25.7% in the last 12months and Ag is up 19.6%. Both are splendid paper priced performing assets. (2 can pick and choose timeframes!). Paper Silver gets pulled around by Paper Gold. You're reaction is clearly due to the fact that either you have limited choices because of cashflow issue (you might have to sell some phys) and/or you do not understand what stage in the system reset and systemic fraud we're in.
Hey Mrgneiss,
You still haven't answered the question.
Nice to ignore isn't it?
Why is it you care so much about the paper price of PM's? And why would such statement bother you to an extent that you must label the commenter a 'troll' because what they said was not congruent with your desires?
Answer it.
This is why my return ad hominems actually were accurate, because someone who hypocritically points out that they are being attacked ad hominem when it was they themselvess who went there first, definitely either is ignore-ant or unable to perform self-examination. Once you revealed your true self, that opens up you to the ad hominem, because it is no longer baseless to point out conflicts and contradictions in your character.
Well, I just got smoked on my shorts...
You're not alone. I'm still cleaning up the blood.
The accounting system database ran out of room for all the necessary zeroes...
or, maybe it was the blue screen of death.
Au revoir SOCGEN
The game plan is to attempt to engineer a massive double bottom in most of the major financials.
This is also a great opportunity for the syndicate to put on more naked shorts and ramrod paper Au/Ag.
M1 velocity is at zero, people shopping on credit didn't change anything. take as much of their hard cash as you can get, the rest is worthless.
As fast as you can throw gas on a fire, it will flame out with no fuel to burn. Looks like Bennie "El Gasolino" Bernank is tearing apart the house to toss into the fire to keep the flames alive.
Crash at 4.
As Gerald Celente said, we’ve got to quit calling them banks, they’re loan sharks.
MoneyWatch reported that “Belgium will be on the hook for roughly 60 percent of the loan guarantees for Dexia, or a whopping 15 percent of the nation's GDP.”
The debt of all these banks is owed to the financial sector and I don’t think the American people are going to pay it. When you see a fact that a country has to come up with 15% of GDP, not to bail out its industry, its people, its workers or its taxpayers, but A SINGLE BANK, then you’re talking about the last chapter in this monetary system.
That’s not good news for the banks. That’s bad news.
Just look at the dominoes to see why America’s standard of living is entering the picture. It starts with Iceland, then Greece and then the talk about the big problems with the larger economies, such as Italy and Spain. And then it’s the problems with the rating agencies, and then France. And then the Germans are balking and then we find out Germany is not in that good a shape.
The political situation is in upheaval. The UK is trying to distant itself. What’s next? I’ll tell you. It’s the Fed. In order to try and satisfy the debt, there’s only one place left, the Fed. And when that happens, you begin to get the GDP of the U.S. thrown into the black hole.
If there’s another domino after the Fed I don’t know what it is. We’re finally getting down to the last chapter of this thing. When the American people finally say no, the Fed goes.
<<I don’t think the American people are going to pay it.>>
Sure they will. 99% don't have a clue what's going on and prefer the flat screen distraction box and most of the remainder will see the choice as being "your money or your life". Homeland security will mop up the rest.
So these swap lines....how is this good for stocks? Did the Fed just give a sub-prime line of credit to Euro trash? If so, how much will it cost the US taxpayer when it turns out they can't make the first payment????
Wow, these guys really know what they're doing!! They fixed all the markets. Amazing. They're all so smart. How could we live without them. Relax, I'm a mind reader and I'm reading Ben Berstooooopid's pea brain.
Global liquidity crunch has been expected for a while. BIS published a paper on the subject a couple of weeks ago.
“What the hell are we paying you for”..............christie ask Obama ...http://www.youtube.com/watch?v=qoAxmpiM1So
They're frantically calling tech support in India as we speak ..
Fed: Our system is broken! ..
Mehendra: Oh I am so sorry to hear that .. did you try unplugging it and plugging it back in?
I laughed so hard, thank you
I think they meant to say "There are systemic difficulties preventing the charade from continuing. Please stay on the line....."
Fear not, HBO will put on the screen a real dramatization of the last night events, oddly enough, two years from now. Joe Pesci will play as Sarkozy and Robert de Niro as da Bernanke, Godfellas re-write
The swap lines are tying up all their band width limits.
BAC looking verrrry sick today. Is has not moved over the last 5 days, yet they have goosed the market by about 700 points. Did they call Benny and shamefully admit they have VD?
Sure is odd, given there must be a ton of shorts to get squeezed.
I think they're desperately trying to save BAC. This is one of the main reasons why they did this. Also, as you said after a 700 point runup all they get is BAC at 5.24? 24 cents above a 4 handle? I'd say there's gonna be some serious shit hitting the fan real soon with BAC and the markets in general. They better get Buffet in the tub again with his checkbook real soon
No bids?
All in.
The System is winning....
http://www.youtube.com/watch?v=kkyUMmNl4hk
<----- heading to the bank, withdrawing remaining cash balance
just don't try it at BoA, the manager will come out and call the cops if you don't leave and return "after hours" to complete the request.
not shitting you, I watched it happen, you can't even close a bank account anymore without harassment from the banksters and there police state thug enforcers...
I'm to old to pull up stakes now so I will go down with the ship, but I would encourage any of the younger generation to consider that it might just be time to get the fuck out of dodge before it's to late.
Bank of America is no longer Bank of America; it is Goldman Sachs’ leftovers via Merrill Lynch. Goldman’s former CEO Hank Paulson and Bernanke destroyed the solvency of BofA to revive Merrill and to cover their banker fraud the same as they destroyed the solvency of American workers and their savings to revive the TBTFs.
Websites such as Huffington Post have stock photos they use on breaking stories. When there is a breaking story on bank problems, guess which stock photo is used: Bank of America. They must have dozens of different views of the BofA logo and building facades. Where is this campaign coming from making one single bank the symbol of bank fraud? Where are the logos of Chase and Goldman when bank fraud is discussed on websites be they Drudge, HuffPost, or whatever. Yet throughout the land, the results of Chase and Goldman fraud as top sellers of C.M.O.'s seems to dominate every village and urban setting.
As Ben Stein of the NY Times said: “Should there not be some inquiry into what the invisible government of Goldman did to create this disaster?”
The Charlotte Observer reported Feb. 01, 2011 on BofA bonuses, that Co-Chief Operating Officer Tom Montag, “a Merrill Lynch and Goldman Sachs alumnus who runs the Wall Street side of the company (BofA), could make the most money, about $16.1 million. That's actually down from 2009, when he reaped $29.9 million, mostly from stock awards granted as part of his Merrill contract.”
Goldman Sachs’ dirty fingerprints are all over Bank of America. Using the full threat of the Federal government through Ben Bernanke to destroy the solvency of BofA to revive the insolvent Merrill, they’re now using all of their communications connections to scapegoat Bank of America and divert attention away from themselves. It’s a story as old as the earth. And the people, as always, buy it, every time.
Has anyone read the news flash that both the NY and Toronto stock exchanges have experienced technical errors this morning? Something is going down...
can u provide a link?
http://www.marketwatch.com/story/nyse-reports-trading-glitch-2011-11-30
NYSE reports trading glitchThe fifty cent craps tables at the Plaza or Binions in Vegas are more fun... and they don't change the rules while the dice are in the air... plus free drinks.
Screw the bankers.
Co ink a dink?
Toronto Exchange Suffering Technical Glitch
The Toronto Stock Exchange said it is experiencing interruptions of trading in stocks.
The unit of TMX Group said at 10:30 a.m. that it is ?currently experiencing technical difficulties with symbols beginning with M to Z.??
An investigation is under way.
"""This is the first POMO ever cancelled in QE/Lite/Twist history."""
SOoooo, this time it really is different.
Change you can believe in....3 years getting ass raped by the banking cartel.
Fed employees exhausted after an all-nighter trying to keep major Euro bank(s) from imploding. Needed a half day to catch up on sleep, hence, POMO canceled.
OT
Notary who blew whistle on foreclosure fraud found dead
http://www.mynews3.com/content/news/story/Notary-who-blew-whistle-on-foreclosure-fraud/gdZL4mIJ50CzCFK8GI33_A.cspx
Didn't read if she was in a Hot Tub or a Single Engine aircraft
Too bad....she was in line to replace Bernanke when he steps down.
I expect we will see an increase in cases of "Matt Simmons syndrome" as things progress.
The dead notary story has been at the top on the page on ZH for a couple days now.
Tylers don't miss much.
Top right corner ,right now.
I love how we just accept major actions taken by the Fed without any explanations. Nothing like holding people accountable.
Scalping is a perfectly legitimate enterprise ! If event stadiums were filled to capacity for every event (to the benefit of the audience and the performers) buy selling the tickets to the highest bidders....scalping would be less lucrative.... but never evil ! Monedas 2011 Comedy Jihad Stop Primitive Fixed Ticket Prices ! Trust the democracy of the marketplace !
Translation: The Interns forgot to get some little brown envelopes for the hand-off.
Just another sign of the coming zombie apocalypse. Que the tin foil hat crowd.
just vapors left
Are the vapors flammable?
yeah, running on an empty tank of fiat
Sounds like we'll be shit outta fiat!
They are doing WHATEVER is necessary to protect themselves. That much should be clear this morning.
Banking failures are not allowed. Everyone else can go to the dogs. You thought America was a scary place now? Just wait. The rich get much richer (paper wealth), the poor can't find work and if they find work, they can't afford to buy enough food to keep them healthy.
There is NO shortage of ink or paper, but there are already shortages of food and YIELD on food production is limited!
This is what communism must feel like.
Global communism. Globally centralized engineered financial markets.
By the time the serfs are waking up in a number of years, it will be too late. The crooks will be dead by then and their kids (if any) don't know their ass from their elbow.
"Saving" the global economy my ass. They're saving their own skin, their own assets and their own kind. That's all. The rest of us are going to suffer.
Hyperinflation here we come! All that talk about gold, guns and ammo. Better pay attention to it NOW if you haven't done so already. Stock up on food, lots of non-perishable food. The money you're earning today will only buy you half the amount of groceries in a few years.
Deflation would have been the reasonable and the sane thing to do. The world is run by insane bankers, making insane decisions to protect themselves. There is nothing else to it.
The only thing keeping hyperinflation at bay right now is currency debasement, but they can only burn the candle at both ends so long before it all goes up in smoke! The unsane are in charge and its full-retard ahead!
The only thing keeping hyperinflation at bay right now is currency debasement
Currency debasement is the cause of hyperinflation; how can it be keeping it at bay? Do you mean that funding the manipulations currently being used to keep prices at bay will ultimately further debase the currency?
The only thing keeping hyperinflation in check is the MIC's persuasive abilities are greater than the resolve of any opponents or their respective central banks... aside from the fact that as part of the club, the people in the positions to make the decisions are naturally inclined to keep the status quo.
Not sure where the fuck he gets his notion of the relationship between currency debasement and hyperinflation, but clearly he's mistaken.
The bankers rule. Their game is paper wealth and they run the world.
Unless we take them behind the shed and shoot them, nothing is going to change - ever.
I'd rather see them hanged. I mean, a noose can be used repeatedly, so why waste good ammo on these pieces of shit?
My plan for co-opting the hopium market proceeds apace.
Excellent.
(Seriously though--mission critical IT systems handling billions of dollars do not have 'difficulties'--ever. This isn't some windoze program running on a cheapo desktop that needs to be rebooted every 30 minutes. The armoring and failsafe/fallover/redundency of financial networks is only exceeded by the Pentagon.)
The difference between a liquidity crisis today, and one from 1907 or 1929 or even 1987 is computing power at the central banks.
In an instant, trillions of dollars can be created to provide liquidity backstop to the world by the Fed.
It's ironic and brazen that the week bloomberg outs Benny and the Fed for 7 trillion in secret loans, they come up with this plan!
Every QE from here on out will be a cluster&*%$ like this past couple weeks.
You have to make it more and more complex so the sheeple, congress and most everybody in 99% don't have a friggin clue what's going on.
PRINT
What it shows is that they are beyond reproach. Who is going to go after them? Huh? Who in the world is going to go after the bankers and tell them to stop or else? Who is going to bring an end to the banking madness?
Nobody. They know it and they "behave" accordingly.
We can't beat them. Yet. But we can perhaps join them and beat them at their game? Do we have a fair chance in hell to make that happen?
A decent man's working wage is not enough to support the family. It hasn't been enough for a long time. And yet the pencil pushers (or button pushers to be more correct) are living in unimaginable luxury. What are their talents? Can they hold a hammer and can they hit a nail? They can't do any of this. They "create" paper wealth for themselves, let some of us participate and the vast majority is living from paycheque to paycheque and if they dare dream for more, they have to go to THEM and take out loans or credit cards and get back some of the money that the workers have earned in the first place!
The bankers are a plague and unless we get rid of them, we are all going to get sicker and sicker!
The increased technological capacities of the world's central banks to create digital liquidity backstops are offset by the plebs' increased technological capacities to get instantaneous information, world wide. Further, the printers are not above reproach... the price of real goods acts as a natural inhibitor to their actions. Ultimately, they have to answer to the producers.
but I'm sure it's fun while it lasts.
There is no liquidity - because there is no money. Everybody has been living on borrowed funds and when there was no more to lend, they just started to print it out of thin air.
The worlds resources do not match the population and the only wealth left is the physical assets like gold, silver and oil - but they are running out. As more and more people realize this, there is going to be panic.
Read:
http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref
No POMO for you!
WW3 about to start. It is the only way they can cover up this mess. Markets will crash so the elitist can blame that verses themselves.
Two stocks that will be hit the hardest when Europe fails is KO coke and MCD McDonalds. Neither are moving with the rest of the market. They are slowly being sold off. Why? thought all is good since Benny road in on his white horse....... What's really happening behind the curtain?
Lets put the data points together:
We hear that overnight a French bank almost went bankrupt.
We next hear that the fed won't have a POMO because of system difficulties.
Wouldn't this mean that the French bank is also a PD for the Fed? And isn't that list short enough to figure out the correct name?
No doubt they were busy doing "god's work" when the system froze up worse than a the Greenland Ice Cap. But, hey, they gotta plan, right?!
I had suspected that the "freeze" (ie - players and orgs pulling their "capital" into safe harbor, and away from any exposure to risk - ig the entire world's financial markets) would start to ramp up and cascade...
So here we have ... the ICE NINE-ING of the planetary financial world.
Let's see, we must then be talking about printing maybe $50 Trill??