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Here Comes The Global, US-Funded Liquidity Bail Out
As expected, the Fed has just bailed out the world once again:
- FED, ECB, BOJ, BOE, SNB, BANK OF CANADA LOWER SWAP RATES - BBG
- ECB, FED other major central bank to lower the pricing of existing USD liquidity swaps by 50BPS
And as we have been writing every single day, the worldwide dollar crunch is now confirmed:
- At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar
And finally, a promise to bailout Bank of America when it hits $4.00 again:
- U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.
This means that the global situation is far, far more dire than the talking heads have said. Luckily, when this step fails, which it will, Mars can always come and bail us out.
For release at 8:00 a.m. EDT
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.
These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from December 5, 2011. The authorization of these swap arrangements has been extended to February 1, 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.
As a contingency measure, these central banks have also agreed to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of their currencies should market conditions so warrant. At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar, but the central banks judge it prudent to make the necessary arrangements so that liquidity support operations could be put into place quickly should the need arise. These swap lines are authorized through February 1, 2013.
Federal Reserve Actions
The Federal Open Market Committee has authorized an extension of the existing temporary U.S. dollar liquidity swap arrangements with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank through February 1, 2013. The rate on these swap arrangements has been reduced from the U.S. dollar OIS rate plus 100 basis points to the OIS rate plus 50 basis points. In addition, as a contingency measure, the Federal Open Market Committee has agreed to establish similar temporary swap arrangements with these five central banks to provide liquidity in any of their currencies if necessary. Further details on the revised arrangements will be available shortly.
U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.
Information on Related Actions Being Taken by Other Central Banks
Information on the actions to be taken by other central banks is available on the following websites:
Frequently Asked Questions: Foreign Currency Liquidity Swaps
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Bail out wednesday bitchez!!
Game on. Nice to see a spike up in the PMs for once.
Bring it on! Mars to the rescue.
Uranaus has more strength than Mars.
Turd,
You have been calling the end to this Keynsian experiment for a while now, but every time the cliff gets close, they wiggle out.
This has been going on for years now and I fear we will be given the slow morphine drip for decades more.
This can will continue getting kicked. There are many more manuevers the CBanks can take to continue the ponzi. Just think of all the countries in Africa that not integrated into the debt slavery machine.
It seems like it will stretch forever because we're right smack dab in the middle of it. When we look back, we'll wonder at how fast it happened.
Yes, and we are accelerating towards that point. $707 trillion derivatives, up $107t in just the last 6 months. At a +30% rate of annual increase, I'd say we are approaching the edge of the cliff.
Only if you really think those derivative contracts will be honored. How is that working out for those suckers that bought insurance on Greek Debt again? The can kicking will end when everyone stops participating and not before. The end of the current financial system will be completely unforeseen and perhaps never even acknowledged. Trying to predict any of this is like trying to predict human stupidity. Either way, do you have physical assets of real value, tradable skills or great employees that do, and like minded neighbors? You fucking better.
Bingo! You got it buddy! You dang well better be able to depend on those you know and are close too, friends, NEIGHBORES, and immediate employees because these people are your best assets. For all of you in big cities with 10,000 neighbores at your doorstep good luck. The U.S. has almost no sense of community anymore and this will hurt big time. The LawsofPhysics is dead on here. When your not home it is your neighbores who guarantee the safety of your home, not the Police, which number what, 1 out of 5 or ten thousand people.
Spot on. Neighing Bores, never looked at it that way before. What a perspective. Love they neighbour....
But yes, community. It's all about community. But not the way new agers see it. We are all equal is the biggest lie sold to them. I am NOT equal in any way shape or form to Usain Bolt. Are you?
Annnnnyways, the fire-hose is now officially open it seems. It takes lips of leather to drink from the firehose.
ORI
/the-plan/Updated
Hippocratic Oath: Do no goddamned harm. These guys should read it a few times.
Actually, they subscribe to the Hypocritic Oath: ass rape everyone and say it's for their own good.
Mars's Central Bank is our gooderest bestest friend ... and their tentacles are so damn cute ... just makes me want to go out and buy some thingamajigs ... like, ... you know, ... for everybody.
Shit is on me!
Beni
Equality means equal rights under law. This is still the case. We Americans now all have the right to be thrown in a hole forever without charge for speaking our minds. Orwell and Kafka teamed up on this one - too absurd for one genius alone.
Like most of the debt, the derivatives have no chance of being honored. My point is derivatives helped get us into this predicament, and they are therefore a good way to take the pulse of the patient. That pulse rate just started racing. Not a good sign for continued can kicking. It ain't over yet, but I'd be surprised if it doesn't reach the climax in 2012.
Didn't you say that yesterday? Do you block and paste? :-)
My plan is simple. I stockpile guns, booze and have resigned myself to canibalism. It's as valid a plan as any other, the food chain is assured, and nobody can smell carion on your breath if you smell like gin.
but it's those cannibal shakes that give ya away
Obama just solved the post apocolapse food problem. Yes we can -- put horse meat in a can.
Horse slaughter plants are legal again in the United States. Restrictions on horse meat processing for human consumption have been lifted.
http://technorati.com/lifestyle/article/obama-legalizes-horse-slaughter-...
Dude, that is way out of line ... get some godamn toothpaste!
We'll see. Our grandparents have been saying that exact same thing since 1965.
...when falling out of a window from a building's 80th floor, it's sheer dipshittery to conclude there never was a problem when passing the 18th floor on the way down based on the simple fact you haven't splattered on the ground yet.
They reckon the can dig a hole faster than you can fall.
+ 9.8 m/S2
Amazing times, Last thng I heard is recession is over, banks are good. All of a sudden a Banks are downgraded and Fed is pumping more money. When does it end?
http://www.dailyjobcuts.com
/
When the central banks THAT MATTER have mostly gold on the asset side of their balance sheet
+ cheap gold is no longer available/
or chaos gets out of hand
= They will pull the plug and announce a new monetary system.
That's when the defaults happen, and that's when the average Joe gets screwed and take a big haircut. That's when they ramp the price of gold so their assets balance their liabilities. That's when anyone without physical gold bails out the banks and loses most of their net worth without writing a check to the IRS.
Yes but... isn't that somewhat like a book makers balance sheet? Not all of those bets are going in the same direction, so they somewhat offset each other leaving the JUICE for the predator class.
Plus the Fed will save anyone TBTF that has made a stupid bet.
Keep digitally printing, because there is no way to actually PRINT this much money
<deleted>
You may be right Chief. The can probably has a few more kicks left in it before it gets kicked over the cliff somewhere. As to Africa and the debt slavery machine, they're working on it (i.e. Bill Gates with his cell phone and lap top racket).
The Kleptos can quickly change gears
Their game may keep going for years
Secure family and friends
For their greed never ends
They will rise to the worst of our fears
Either way, gold and silver will increasingly call "Bullshit!!" on them as we progress down this path.
The mantra of the PIIGS and bankers...
Only I Need Know, Once I Net Kleptomania...aka OINK OINK.
Yo the Limerick King is the baddest bitch in the land
Somebody please put a mic in his hand
with that bling on his head
let it never be said
that the Limerick king's rhymes are dead.
@Chief-You are exactly right.
Nobody knows when the shit will hit the fan. In the meantime, if you have available cash, buy precious metals. This is common sense, not investment advice.
The only people that will get burned are those that trade the metals and end up with the hot potato when the game stops.
hmmm, isn't true though that fiat has a final shelf life? hundred years max is what i have heard.........2013?
Fiat didn't start in 1913. It officially started in 1971. However, it sort of started in 1933.
The USD bubble has been forming for nearly 100 years..ever since the Fed began counterfeiting, or printing notes that were claimed to be backed by gold, when in reality there is not enough gold to back all of the notes. But, in a sense, the Fed stopped counterfeiting in 1971 when Nixon broke the link between the USD and gold. Now the Fed is printing fiat notes, backed by nothing. The USD was somewhat shored up by Paul Volker in the late 1970s and early 1980s by raising rates ahead of inflation. Then the Fed began a relentless campaign of debasing the dollar when rates were kept too low in the 1990's which lead to the .com bubble. Instead of allowing a real recession after the .com bubble popped, Alan Greenspan, the Chairman of the Fed at the time, dropped the Fed funds rate to below 2% in 2002 and ultimately to 1% in 2003. These ultra low rates brought mortgage rates down which helped drive up the price of real estate, leading to a real estate bubble. After the bursting of the real estate bubble, Ben Bernanke brought the Fed funds rate to near 0% where they have remained for nearly three years and the USD will soon pay the ultimate price for Bernanke's and Greenspan's mistakes.
What you are trying to say is that we have been getting bungholed for quite some time, yes?
Africa is the most exploited continent in the world. I think they've got that covered.
Chief;
If one were safely outside the event horizon, and threw something into a black hole, it would appear to fall forever, although the actual plummet is fast and violent(tidal forces tear the object apart before it even gets close). So whether or not the can is actually kicked indefinitely, money interests will try damn hard to make it appear that way.
Uranus blew out thier credit on cheap Neptune-made laser blasters. But I hear Alpha Centauri will soon bail them out.
Typical.... the man have to pay and the woman from Venus are looking the other way....
that pretty much sums up every date I ever had....
Indeed, Mars, the God of War, shall send us unto deliverance. Of course, "Mars" is "Wars" upside down and inside out.
Mene mene tekel upharsin.
I am Chumbawamba.
Oh, and look: your icon is a mushroom cloud. How ironically coincidental.
-Chumblez.
Mars, God of War? Naw. My local Congressional candidate has a plan, and he's likely to win.....here's a short snippet of our exchange........:
Me: " There are two ways out of our current financial crisis......Print or default. What's your stand?"
Dr. D: " Concerning the national debt, I must disagree with the idea that there are only two choices. We certainly cannot keep printing. It is not now and never has been a cure, not even a panacea, for any nation with substantial debt. As an advocate for Austrian-school economics, I believe printing to have the exact opposite effect. Repercussions are inevitable with printing, geometrically in kind. As for default, the argument has merit but only in theory. It would take a worldwide brain trust of like-minded and correct (Austrian-school) economists bolstered by governments willing to do right things. In reality, these things do not exist.
There is a third option. I believe we must have a balanced budget, and I support a return to 2007 spending levels FOR A START. I will vote for any balanced budget plan, including (but not necessarily limited to) Cut, Cap & Balance or the Penny Plan (Connie Mack/Rand Paul proposal). Rather than defaulting or printing, we can cut spending, reduce the size and cost of federal government, raise federal revenue by reforming the tax code (on an interim basis, with lower corporate and personal rates, and elimination of special interest exemptions/loopholes), pay the interest on the debt, and fund the necessities. This will take determination and many more like-minded Congressmen, as well as a President willing to sign the necessary legislation."
Chumbawamba,
You are one of my favorite posters. I admire your style. Simple, short, concise and always with your classic signature. In fact, I rarely immulate anyone, but I often sign off with,
I am The Chief
?u?op ?p?sdn ??? s??? s? ??? ?o po? ??ou s,?? ou
I was hoping the upside down text would work.
Let's try Zalgo
C?????r???a???????z????????y?????????? ????t?????????????i?????m??????????????e?????????????!!?!?????????????
A global central bank bailout of the banks is BULLISH! Even more bullish than it was yesterday before the global bailout.
it's up and down... the only possitive side for me it that the euro is going down the drain...
Benny thinks his dick is bigger than the economy... what a twat
...as QE1, QE Lite and QE2 proved he's packing a maggot (3 flops, let's try 4 in a row)
the hyper-deflation going on in the (credit card) economy will smash Bennys futile dick-waving attempts to reflate. The total failure of Bennys reign of ineptness and impotence is assured
6 times
Emergency Funding in 2008
TARP
QE1
QE Lite
QE 2
Pension readjustment
Now this shit...and that's just the US. Europe has been a printing mill for three years silently.
If there is anyone in the CIA/FBI/NSA/DHS reading this, you've all been had. Only your groups have the ability to get close to the source of the problem and remove it. Since most of you will be eating dog food with a stick in a year, you might as well make your last bits of your careers mean something and fight. We all understand now that this event has now removed the idea of a soft landing, that is now completely off the table.
So if you are human and have people that you love, you might want to start gathering your project staff together as fast as possible to counter the wackadoos that have now destroyed the last semblance of order in the economic universe on our planet.
Either way now, inflation, deflation...it will be a rough ride for everyone here all 7 billion of us. Be careful, be safe and be brave.
That's right, spooks. If you're watching these threads (and we know you are), your pensions and your family's savings are as doomed as Bin Laden's frozen corpse.
For God, country, self and family -- lop off the heads of the global elite that are using you, and are about to discard you like a used hanky.
No doubt that they'll choke off a metals run if they see it getting away from them but this action takes us that much closer to the end of the fiat road. This is why stacking physical is so important, especially when it's on sale like it's been for months now.
On this past run, physical outperformed. Now margin requirements have been upped enough on physical that we should now see the shares outperform on this next run.
Look the hell out if this stunt fails....
It didn't work that last six times they did it, what makes you think this time will work.
Definition of insanity is repeating the same mistake over and over again. This has that in spades. So glad I'm not in anything but farm land and PM's.
Good luck to all
Last time round the buzz lasted the entire period of pumping.
This time there doesnt seem to be any explicit duration stated.
So my guess is till after elections.
Yes, or at least until the dollar bottoms and it says to the Euro "tag, your it." It was so clear when we hit the top of the channel that the dollar would fall and stocks and PMs would rise (again), but do I take the trade? Nope. Too busy watching Europe, like the bankruptcy of a continent has anything to do at all with a market that is not a market. I'm on trading probation for this (again).
Yeah, I'll join you in the time out corner. I should have seen the dollar top, it was plain as day. I can't believe I didn't realize that the insiders had been informed last weekend of this. Two 30 pt ES moves in a week, in the middle of the night, shit like that hurts.
I learned never to be more than quater risk short going into any kind of banner event.
Fucktard pols and CBs have those days marked as bear rape holidays.
"if" ?
Failure is inevitable. Bailouts don't change the fundamentals. Bailouts don't make Italy's and Greece's problems disappear.
This is more Keynesian fantasy economics - keep printing and borrowing and papering over the holes until the miracle unicorn boom comes and saves us all.
Postponing the pain is all they got in their bag, nevermind that when the fit hits the shan, the pain will be so great the numbness will be a blessing for many. PM rules!
Not for me, Turd. I am buying more silver this afternoon. I enjoy the artificially low prices as I continue to stack.
I'll go along with that!
Yessiree!! Today's payday, and as soon as I can sneak out of the office, I'm headed down to the coin shop to see what I can afford.
It takes all sorts of mental restraint to not get an erection as I hand over green paper, and get beautiful, heavy silver coins in exchange!!
An almost 100% duplication of 2008:
11.30 Liquidity Swap Announcement: A Repeat of 2008We should get one more flush in the PMs come Jan, if things play to type.
COT reports getting interesting too.
Only thing is we are one year out of sync with elections.
Intriguing.
I think PMs decline in December then rally like a scalded dog in February. Ireland will collapse by then causing a rush to safety in the dollar and PMs.
Yeah, it seems to me that this bail out kinda shafts Obama. The sheeple will have long forgotten this "save" by the time we get to the polls.
What save?
8 dollar a gallon gas?
10 dollar a pound ground beef?
Worthless savings?
Imagine all those poor fuckers trapped in an IRA, RRSP or whatever the pension savings scheme is. By the time they get into position to put that money to use it'll be worthless. A lot of hardworking people are going to get badly hurt by this.
Those without the where with all to save or make arrangements for a savings plan for retirement, the grasshopper lifestyle just got more expensive. A lot more expensive.
Nice catch. Thank you.
We shall commence moving beyond the fulcrum now to oxo
it so frustrating isn't it.
The whole time we're sitting here reversing the provided information so we can figure out how TPTB conjure the numbers out of thin air. Now this.
Again this.
A Global Tax on the American Sheeple.
A tax on us all actually. Look at PM's. All of them. Food, Oil, metal...
WTI is going to break us. So go fill the tank now.
Exactly, once again wall street and the banks get bailed out, everyone else gets f%^&£ed as we have to pay higher prices on everything essential.
CPL
This is the least we can do, to help smooth out this little bump in the road of global financial miss hap. Again.
Just like 1920's Germany really, only much, much better, if you're holding gold bullion that is...
Once again, the adults in the world (CBs) save the day as politicians act like children. 6 bazookas loaded and ready.
Why junk this guy? Don't hate the player people, hate the game. He is right (in a sense).
The CBs are ACTING. In their own collective self interest, to be sure, but they are CALLING PLAYS.
The flacid, chalky cadavours masquerading as politicans are sitting on their arses sucking on the tits of fuckshites NOT to play AT ALL. They are working in their individual self interest but the currency of their trade is your sovereignty.
I say hang the politicians first. The you can't really fault the money changers for being, well,... money changers.
I understand your sentiment, but you're excluding the fact that the guy said the CB's had to "save the day." They aren't. They're saving today and damning tomorrow.
Sure, they're acting - they're doing what seems rational to them - but they're not saving anyone but themselves.
I know i'll get junked no end for this.
But do you propose they willingly sacrifice today and themselves to save tomorrow?
They aint saints, dont expect them to act like one.
I won't junk you for it, but you're misinterpreting what I said. I never said I expected them to be utterly altruistic - I just said they think they're saving themselves and many others - they're just saving themselves and those closest to them. They're ruining life for nearly everyone else.
Great conversation. I'll play devil's advocate. Given that central banking and corruption destroyed the system A LONG TIME AGO, and we are past the point of no return, I would imagine the central bankers view themselves as trying to salvage what they can from a sinking ship. There are going to be winners and losers in this effort. They are stacking gold, and foreign currencies will no longer cut it as an asset on their balance sheets. Trade deficits will henceforth be settled in gold, just like they used to be and just like Greenspan has recently suggested.
With that said, the people who are stacking gold will be the winners in the new system, because they are going to have to ramp the price of gold to make this work. That means the winners are the central banks and the people buying in China and India, and the losers will be the populations of the West, where there is an effort to discourage people from buying physical. This will better balance our standards of living and create a more workable field upon which to rebuild global trade.
The central bankers don't see this as a betrayal. They don't have very many options. We passed the point of options long ago.
Edit: And yes, they are supervillains.
Perhaps we should all just see if anything really happens here. I mean, why do anything when simply saying you could something is working so well?
Just to 'explain': He got junked because his comment is garbage.
Jesus didn't like money changers...just sayin'
What came first, the enabler or the enabled? hint: there were thieves before their were politicians.
Your sovereignty only ends when you are dis-armed, keep a steady watch on who wants to dis-arm you ....
We should have a parade for the printing press...Oh how we exalt thee, oh mighty money printer. How great thou art!
We do. It's the 2 month long shopping orgy that we go through every year at this time. The mindless lemmings over the next cliff, and the next...
Indeed - they have saved the day.
Tomorrow is another day, of course, and that will need saving too... and the day after that.... and the day after that.
How many days can the CB's buy us?
Good job you didn't suggest that the CB's have fixed the problem. They're buying extra days but that just makes the eventual collapse more painful.
Shove your bazooka up your arse. None of this CB intervention can do more than delay the inevitable.
The system is fucked.
Really? Whose day did they save? Man trying to live at current price of gas and food? Or rich wall street licking chops for bailout?
Polling shows most Americans care more about gas and food prices than stock market. This should help Merry Christmas. LOL This is kind of bullshit that helps Ron Paul get elected.
Panicked financial market cause people to seek familiar, so vote for politician they know. But manipulation that cause expenses sky high to help bankers? We vote for shake up.
oops, i was off by a couple pennies last year... this time we'll never see a gallon of gas under US$3.00 again
They are not saving anything. They are kicking the can by debasing the currency. In the end the day of reckoning will arrive with more zeroes attached to the bill.
Liquidity problems ... that's a laugh. Insolvency arseholes. Come on ... go ahead and make payments with current income.
Capital shortfall in another word for being underwater.
Negative net worth is a bitch.
The only thing that pisses me off about this is that I don't have my own liquidity wand to wave around and let me immediately capitalize on this this latest market-moving blunder!!!
Euro/USD to $1.40 in a week. I told all of u that the end of the world Never happens. Don't short the Money Printer's.
These fckn keynesians will not leave someone short the markets in peace.
Just like Michael Corleone says:
"Every time I think I'm out, they pull me back in."
The Euro is too integrated and must be healthy for GERMANY to sell her products to the other Broke European countries. This is why the Euro was created to begin with. It will hit $1.40 in a week. Merry Xmas.
"It will hit $1.40 in a week", sure and be right back down a month later. Range trading baby, why should TPTB actually do anything when simply saying they could do something is working so well? Boy the bullion is shining brightly now, Merry Christmas indeed.
Oh how we DO short them. In GOLD fool!
Mother fucking assholes.
http://www.youtube.com/watch?v=EjYLRxHWKiQ
It's not a bailout, it's an admission of an emergency at the global level.
Banks are broke and broken.
The best part: "promote the extension of credit to U.S. households"
If you are in debt, they are never going to let you OUT of debt. Infinite debt servitude, bitchez.
If considered that the next year US has about 4T funding needs, 2.6T bond maturity and 1.6T deficit, it makes sense to flood the markets with $$$ liquidity in order to get it back the next year. How is that about helping the brothers in need, I think more like, helping US for the next year.
Melt up 30 points. Then melt down 60. Rinse and repeat.
Could be a move to accommodate the Neo-Euro as Act 2.
Exactly why the irrationality by most commenters on this site is nothing more than odd-lot selling at its finest.
You got that right!
This will most likely last into the New Year 'Aussie'...You can make $ irrationally as well...
come on now, you've got to do more junking to make that (red) match up with your FAZ cost basis.
I don't 'red' anybody...ever...here's a couple greenie's for the thought though...As far as FAZ is concerned...I've never been long or short any bank stocks or ETF's as well...Not my 'expertise' per se....
LOL- amusing from an Austrailian- the odd-lot of people on this Earth......
Buy ink futures with both hands. Does the word "print" mean anything to you?
http://vegasxau.blogspot.com
'This means that the global situation is far, far more dire than the talking heads have said. Luckily, when this step fails, which it will, Mars can always come and bail us out.'
"Print" means little. If there is still anyone out there who is confused about the policy response, this should be a wake-up call. That being said, it only cements what is obvious: a global standstill.
Forget all this. War is next and I don't mean 'currency' either...
holy fk
STOP BUYING US DOLLARS YOU RETARDS AROUND THE WORLD.
Stop buying dollars and you might just get a visit from NATO's 'freedom enforcement team'.
LOL. Sounds like a new line of toys or a new saturday morning cartoon. You might have something here Jim.
Great comment, if you like the response of NATO's freedom enforcement team, just wait until you get a load of the BRIC's "liberation army."
Ya, ask Muammar how that works!
I bought some dollars because I need paper as long as it works. I'm not going to waste real money on something that can be bought with paper. Do you want me to hold on to even more worthless local currency? And yes, I'm not particularly bright:D
It's like choosing weather to burn your money or just throw it away :)
When this liquidity gets to households y'all let me know..
It will, in the form of inflation.
Unless your monthly expenses have been going down, it already has. Contrary to the Bernanke, energy, water, and food do count unless you can eat i-pads.
Fat Americans could live on iPads for a long time, if need be.
The BenBernank single mandate at its finest, keep the S&P over 1200. He don't care if a loaf of WonderBread is the same price.
Bail out of FAZ and SKF maybe. I am going to. Holding these things is like trying to fight king kong.
I knew the CBs would come through for me by allowing me to get out of my long EURUSD position at a nice profit. Thanks Ben.
FAZ is FADE, or FAZED. Where's Homer now bitchez!
Your avatar is a little plain, it needs some color. Perhaps a nice fuzzy pink sweater vest.
There is no way to win. Maybe we should just take our ball and go home. The only way to fight these forces is to stop playing the game.
Gold just got the memo
You must be fucking crazy not to hold physical gold by this stage of the game.
You do realize you just insulted 99.99998% of the world population right? :)
Or fucking poor. Wait - that's me!
Or, in short form; "The Bank of International Settlements today announce actions..."
So true.. Central Banks are just pawns as well in this global scam.
anybody short into this thin volume end of year is going to get blown out.
Props out to the *AXE man?* for that call on C, despite the heat you took from the peanut gallery..I jumped on your coat tails after a glance at the charts. Also added YINN, COWL and TBT.
I just have to decide if I should hold into Jan 2012 are dump out in a few hours.
One of these days TBT is going to make some of us very rich. That day has not come yet, and I have taken a bath so far. When the us debt problem become the focus like Europe is now, TBT will be the thing to own.
They are going to create another October rally so everybody makes their year. Every hedgie who missed October is all in on this one. I'm suprised Tim and Ben didnt' take out billboards announcing this one.
Where does the line form for the next-to-free money. Maybe I will start an Occupywaitingline movement.
This won't help short term and I'm skeptical about the longer term as well. Unintended consequences will be epic.
WTF? being a trader its not easy, I can take this shit but not professionals are fucked right in the ass.
Professionals? Investors are merely players at the global financial roulette table, the banks are the house, and the house always wins in the end.
It's a fucking scam.
- Above the Law
"Now that, you can take to the bank!"
I know its a scam :) but what can I do about that. I m in physical 70% of my assets, trading account is only to play this final end game.
no one ever said it was easy. this face ripping melt up just handed a lot of people their ass for breakfast. had sell limit orders on /es at 1225, didn't actually think it'd hit...