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With Fed No Longer In The Plunge Protection Business, ES, Well, Plunges
Courtesy of Fed dissident Dick Fisher, who made it clear that for the first time in history, the Fed is no longer in the plunge protection business, ES wasted no time to react appropriately and take out the 1184 technical support level, a $20+ swing in a few hours. Remember: the Treserve needs someone to boost purchases of Treasurys now that Obama is about to announce that the 2012 budget deficit will be a few hundred billion larger (funded, naturally, through bond issuance), so the old song and dance where the S&P has to be under 1000 for QE3 begins anew...
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WEEEEEEEEEEEEEEEEEEE
ben shalom bernanke
bringing the worst of japan to the usa since 2008
liquidate, liquidate, liquidate.
it's possibly danger to ns, we are going the way of russia.
http://covert3.wordpress.com
We should be so lucky.
Of course, one comparison with Russia is probably spot on - we'll soon be seeing young mothers with baby strollers rummaging through restaurant dumpsters to feed their kids a la Saint-Petersburg 2006-2010. Every year, the same early morning scene near Griboedev Canal.
If true, I can't wait to trade like the old days without some billion dollar spy buy wreaking everything. Hey maybe they will start selling to withdraw liquidity one day.....naww
http://www.youtube.com/watch?v=BorQ_ULcvss
i saw this gansta motha fucka and was like 'WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!"
for being corny that was really good.. or maybe I am just in a great mood?
either way thanks for the feel good / funny / happy moment away from reality!
How is it that Dick Perry makes on offhand remark about the Fed and it becomes the talk of mass media while Ron Paul--a man who is staning up to the Fed--gets no coverage.
Perry is a sellout who will say what he needs to for election and then PRINT PRINT PRINT!!!
The media seems to be right on board with Perry, which is just the best reason in the world to mistrust the man.
Perry is the male version of Sarah Palin.
All sorts of folksy rhetoric.....just another cog in the machine.
Holy shit. He said something that's true for once. AMAZING!
08-17 15:02: Fed's Fisher says 'enormous costs' to a QE3 with little benefit
Yes, and they both scare the hell out of me.
Right on. That clown will just do what everyone before him has done. Based on his stammering remarks, he doesn't actually understand what he is saying but his people realized that it would get a good reaction.
Dick Perry....?
You mean Rick Perry? or Dick Fisher? It was Dick Fisher credited with a remark in the above article, but I don't think he's not a politician.
But you're right, Rick Perry did make a negative remark about the Fed the other day, and, he did get incoming flack for it and he has a history oof being a sellout to TPTB and a Bilderberger attendee. Perry got flack by the Beltway establishement trying to tamp down Fed criticism.
Fact is, the unelected and unaccountable Fed is the only thing that really matters these days. They are in charge of everything.
Take a look at this;
http://www.marketskeptics.com/2011/06/the-esf-and-its-history.html
Looks like the FED is a sockpuppet of the Treasury, not the other way around.
It was lunchtime. They were just taking some change off the table before heading out to buy a burger.
It does not matter if it is QE3 or Fisher's stockholder-unfriendly remarks--there is no way to be protected from the behemoth that has become the Fed.
LET'S ALL JUMP IN THE POOL!!
waiting for NQ to break 2150ish...maybe not today
Bernanke is a Kamikaze
hey robo, go tell leo that europe is dying.............
Robofade
TZOO has him trapped. he would better off with a 600lb virgin on his face
http://www.theglobeandmail.com/report-on-business/international-news/lat...
Everything will be ok...nothing to fear.
This is one good reason why miners are a waste of time.
What justification would the Fed use to provide more QE if interest rates are already at record lows, banks have trillions on "reserve" w/ the Fed, and nobody wants loans? Will Fed move to directly buy $200b, $400b, $600b in equities and other "assets" to provide the wealth effect for America??? Seriously, how they gonna explain this one?
This is not some amateur hacker movie, why so many access denied pages Tyler?
There goes Bob Pissonme CNBS again:
"we're seeing seller exhaustion"
WTF? Seller exhaustion? Help me! I can't hit enter again...
That gave me a laugh too.
"Damn clicking "SELL" with this mouse sure has made me tired. Might as well move the cursor over to "BUY" and start clicking with my other hand."
My finger is exhausted from clicking 'sell'
classic...
<Bob....ok Bob...we are crossing to you in 5....4...."look exasperated"...3....2.....1....>
They bought enough time for the people they care about to exit.
Oh brother - as LH and a few other astute posters have repeatedly pointed out, equities is irrelevant. The name of the game is sovereign debt - governments must be funded, and interest charges must be kept in the 1-3% ballpark to avoid exploding budgets.
There will never be any end to Fed monetization as long as the US federal government exists. Know that and stop wasting your time with diversions.
As for inflation, that is what price controls are for. And as for the supply shortages that result from price controls, that is what government security operations are for.
Again, monetization & inflation (of non-leveraged assets) is the goal. The entire weight of the federal legal code will be used to ensure that there are no/minimal disruptions to this operation.
In other words, America enters its soviet phase. Aren't you glad we won the cold war?
That's debatable.
B9,
You get these comments from me if I see one of your remarks sit in the sun for more than an hour without someone responding. Help me help you.
In all sincerity dude you are the bomb. Without further ado – this nugget is from 12/23/2009:
Please, stop with the pathetic trolling. I would imagine very few readers of ZH fall into the category of day-time soap opera viewer that appears to be your target demographic.
Don't be a quitter? That's the appeal of the carny-cum-TV evangelist. You see this mentality every day in a cancer ward - the brave, gutsy patient putting up the good fight. The sad reality (which no doctor will tell you) is that either the chemo works or it doesn't. It's got nuthin' to do with will power.
Likewise, either we as a society achieve some miraculous ability to service the next tranche of credit financing necessary to blow another asset bubble, or we don't. If we do, the system continues as it has. If we don't, we're going to experience a complete systemic failure, one which by necessity will forgo such niceties as "elections".
We (or our ancestors) made our beds betting on a ponzi economy; thus we (and our republic) will either live or die by its successful continuance or lack thereof.
http://www.zerohedge.com/article/three-month-flat-market-yesif-you-exclude-constant-after-hours-manipulation#comment-173095
You spacemonkeys won't see B9's words anymore 'cuz Tyler is tinkering with his car.
Those quoted rules only apply 99% of the time.
VV & B9 +1
Oh yea, I'll take the other side of that bet. They're already ramping it back up. And, they'll gap it up tomorrow at the open also. And the next day. And the day after that. And...well, you get the concept.
They aren't done jerking this POS up yet.
For what purpose, just for fun?
Why let the lie collapse now? I'm with you Mr.SDO, but, come on...they have gone all the way down the path of fraud. How do you stop it now without having people put a pitchfork to your adam's apple?
I dont know if robots are really afraid of pitchforks.
Rust?
yep ... wealth effect is Obama and Bernake's claim to fame. Without that they both are done.
Nobody except the douchebags on CNBC has ever heard of this 'wealth effect'.
Agreed, but that's what the plan is, even if it sucks ass.
Not to worry. Obama says real cuts will go into action by 2016. What a complete shit head.
Bernank in his claimed purpose of lending stability to markets, has actually turned markets into a house of horrors that no sane person would ever dare enter.
http://www.youtube.com/watch?v=HeCNyJpdANg&feature=feedu
Uploaded by RussiaToday on Aug 17, 2011
Watch full episode 174 of Keiser Report on Thursday. This week Max Keiser and co-host, Stacy Herbert, look at how quantitative easing is good for the rich, bad for the poor and how sterling is offering no refuge. In the second half of the show Max talks to Richard Heinberg, author of The End of Growth, about the role of energy in the current debt crisis.
Tick Rate Hits New Highs, Indicating HFT Activity
Traders Magazine Online News, August 12, 2011
James Armstrong
Bloomberg is reporting an unprecedented number of quotes in recent days, rising to new highs on Wednesday even as overall volume was down slightly, an indication of unfilled orders and the likely presence of active high frequency traders.
“The tick volume is up dramatically, when the actual volume of shares traded isn’t at the highest levels that we’ve seen,” Nagrath said. “Every time an order goes out, even though it’s canceled, for us it counts as another tick, another quote.”
Wednesday set an all-time high of 43.7 billion ticks. That was about one and a half times the number of ticks recorded during last year’s flash crash. Yesterday, data showed about 38 billion ticks, according to Bloomberg.
Click for chart <------------ Great PDF Chart of Ticks 2008 Fincial Crash / Flash Crash in 2009 / Japan Tsunami as well in this chart for comparison.
http://www.tradersmagazine.com/news/ticks-hfts-trading-volumes-108026-1.html?ET=tradersmagazine:e979:55405a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=tm_weekly_081211
With human traders dissappearing faster than an an HFT plunging a bidless stock, look for them to start ripping each other apart like like a vampire squid during Fed TARP feeding time.
Perry,Palin and Bachman - where do you find them all ? They are like W , on stereoids , protoevangelical and without the hindrance of that great intellect of GWB. I used to think that anything other than that zombie Obama would be better...
What you have now is a voodoo hongan with zombiebanks,zombiedepartments,zombiecabinets and a general ambience that only Captain Beefheart could have channeled.
To be fair we in Europe have our inept clowns - but there´s something very human about a guy like Berlusconi. Who wouldn´t wanna be able to engage in bunga bunga?
Honestly - the new crop of Presidential wannabees are quite scary.
we will see at 3:15 to 3:45 what things look like.. again.
mkt bounced
-5.52 (-0.05%) Real-time: 3:28PM EDT
Italy's 10 year spread dropped from 500+ to 220 during the last 1100 to 1205 rally. Now the spread is starting to increase back to 270 just as the market sold off this morning. If the spread breaks 300, market will resume its selloff IMHO.
LMAO.
When this market continues it's break down, it's taking the mofo'ing elevator.
agreed....guess wednesday's not a good day for a meltdown...ES doji bitchez...
"plunges" .... that was some plunge today ....