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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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Didn't you get the memo from Hank telling you that this was in the works? You need to subscribe to the Treasury Platinum Plan to get this level of front running.
........the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.
When did the lending start?? This is more bullshit to print money and hand it over to failed gangsters.
Good until after the elections...so many things expiring after the elections.
I love it!,Global co-ordinated action at $110 Crude.........crazy bastards.
And it's just going to get crazier and crazier.
Iranian oil is about to be "liberated".
What the hell do you think the embassy BS was about?
Its an act of war.
Go ahead. Sell em. In theory perhaps correct. In reality, you'll be broke.
Ill be selling all right.
At 1300.
If govts spent as much time and effort on the real economy we'd all be fine.
Two days of 2%+ pre market moves.... No crumbs for the small traders. Feel for them
LO fucking L.
That was nice Ben! Thanks. I had just gone long @1.3298 and jumped off at 1.3440. Not to bad for 15 seconds.
Keep holding. Euro is going to go through the roof during next 3 weeks. Great move! The doomsdayers forgot about
Bonus Time for the Bankers. Happens every year. Biggest Bear trap in a long time.
'Euro is going to go through the roof during next 3 weeks.'
Really? All things being relative, does that statement count for say... AUD or just plain old Au?
Gold will skyrocket. AUD not so sure...
Absolutely.
But those swaps have to be paid back sometime in the future too.
Gonna be fun, the volatility is going to be bonkers.
I had a short setup at 1.35 on the EURUSD and exited 3 minutes later for 50 pips. This is not trading anymore, it's pot luck.
Oh, so this is why gold/silver have just caught fire.
Too bad the problem isn't liquidity it's solvency.
+10000
That is the problem with economists. They never learn what the problem truly is. They just think that by throwing money at banks, all will be well with the world. Good thing the CB's have just caused more hardships on the mid and lower classes, this well do wonders for those holiday sales. $4 gas is now about a week away.
These idiots that run the worlds currency need to be shot, or have their pay lowered to the average worker in their country.
No it's liquidity. We are in need of two things globally: More debt and more confidence.
THEY WILL PRINT>>>THEY WILL PRINT>>>THEY WILL PRINT>>>duh
That means opposite is True, big banks are in deep trouble finding liquidity.
It certainly was when the Ice9 spread in 2008. How many sequels to HBO movies (you know, the kind that cast Hank the Shank in a positive light) are being 'written' right now?
Starring: Timmay Jeepner, Mario Draghula, and an all-(browndwarf)-star cast of cheats, criminals, and corporate cronies.
Q. - What happens when you rub "paper" together at high speed?
A. - (Hint, it's physics, and has something to do with friction).
Inflation just got a good jab in on deflation's eye...Lets wait for the upper cut...
the new world order no where to run cuz theres no place to hide
this makes me laugh...we try to invest on what we know....and we really know nothing...there is so much back room dealing that is not economic..but political...they are scrambling deals on the hour by the hour...when the big problems of spending more than you make...has not been addressed and will not be addressed....the USA is the worst off of all because we are still on the spending spree...where at least other countries are seeing that they can´t spend that much anymore....the USA will fall the hardest and the fastest ..
I'm sick of the 100% correlation in the market up, dollar down situation going on since March 09. Insider trading by the FED and the stupid politicians. I'm done, they waited for short sellers so they could do this squeeze. They will crash it when too many people go long. They have the algos so they know which way to go with it. Taking my money out to buy more physical gold and silver.
Pack a Gun & Pay NO TAX!!!
http://blogs.ajc.com/jamie-dupree-washington-insider/2011/11/29/senate-d...
Tried that, IRS came after my money......
You need to disappear then. On paper at least.
Why the fuck did Canada have to get involved? I liked Canada
BoC Govenor is a GS guy...
Because Canada must learn to bow to the world masters also ...
We are good at doing what we are told.
Agreed. Plus Carney (BoC governor) is an ex-GS guy. GS must have sent the message out over the Squid network - "We've been downgraded, quick, do something."
Nobody noticed how AAPL (and RTH) had hit the 200dma..??
Time for some Heroics...
Of course all the high-priced keyboardists will spew
all kinds of "reasons"...
As an aside: Nice buy op on FAZ on the near-term horizon..
Love how it's all coming together.. Tnx ZH..
Be safe all..
S & P lowers bank credit ratings, shorts pile on. CB's punish shorts with a worldwide coordinated liquidity fest.
I had not been playing the 3X lever fin game lately and decide to stick a toe in last night and promptly had my face ripped off. Good morning!
Sorry about your toe. I am up to my torso in my IRA and now look like one of those half bodied people from that Walking dead show
This whole Fuckin thing stinks to high hell. Long on cocaine a pretty good place right about now.
Your toe is on your face?
BAC approaching $5 was the sand in the line for Ben.
FED, ECB, BOJ, BOE, SNB, BoC LOWER SWAP RATES - BBG
That's an alphabet soup of global vedgetables
ISEET, had to happen sooner or later. sarc.
Aaaaaaaand it's gone! Sorry guys - we need another bailout!
I'm sorry this line is for customers only
and the next shoe to drop... stay tuned
The bailouts will continue until morale improves.
I'm going to the copier to make money to pay off my bills....... It's the same worthless crap.....
We went through 3 moving averages like they didn't exist. No more technical's in this market.
Financial stability at all costs. Glad I put in my gold order on Monday and will be taking delivery soon.
What really sucks is half the market move came before 8:00am EDT.
But of course.... the elitists have to get their big azz share of this op.
Big Mkt movers seem to have three basic rules..
1. Take ordinary peoples $$ (me..)
2. Feed the Big Insiders..
3. Keep the Outsiders from joining the Insiders..
Safe travels all..
Really? Not here.
priceless!
Yada Yada Yada, we all know ZH is right and so forth but in the meantime MAKE SOME FUCKING MONEY and stop complaining, jesus!!!
ZH is right, but right and making money off it are not correlated ....
So, this is the response to insure sufficient USD liquidity. Right, we've seen USD funding stress, then European "foreign asset" sales supportuing the Euro. I got that but doesn't this movbe act as a balance sheet "mulitiplier" for the europeans more than anyone yo? I'm selling this thing big time as Tony Reali would say.
Are these dollars part of the US saving glut?
Just kiddin'
Savings glut. LOL. Forgot about that one.
Jesus!
Here comes Santa, I can see his sleigh now....
And ... futures through the roof!
http://www.aclu.org/blog/national-security/seriously-senate-considering-...
Senate Considering Repeal of Anti-Torture MeasuresYesterday, the ACLU and over 30 other organizations sent a letter to the Senate asking them to oppose an effort in Congress that threatens to revive the use of torture and other inhumane interrogation techniques. If passed, an amendment introduced by Sen. Kelly Ayotte (R-N.H.) to the Defense Authorization bill would roll back torture prevention measures that Congress overwhelmingly approved in the 2005 McCain Anti-Torture Amendment, as well as a 2009 Executive Order on ensuring lawful interrogations.
When the time comes this will be an important tool for getting you to confess where you buried your gold bitches!.
When this is 'over' the US will be a complete facist state, with no constitution and under martial law with every American with an income under $200k classified as a potential home grown terrorist.
Here's a good recap on their (congress) past accomplishments on our behalf (sarc)
"
I am sometimes baffled by how quickly many people quickly assume that because they were not personally named in some piece of legislation, that somehow the provisions of that legislation do not and could not apply to them. Having spent a great deal of time over the years dissecting legislative language, backtracking changes to code & title and the ever popular “redefinition of terms” used to change the entire common understanding of what a word or phrase means within these tortured constructs called legislation, I know better.
My recent article on S.1867 elicited comments to the effect that a few commenters had read the bill and that I was simply being inflammatory and emotional. Yes…..of course….that must be it.
Lest anyone forget:
Each of these unconstitutional bills was a piece of the puzzle being constructed incrementally as the Constitution and our rights were being trashed.
These anti-American laws were not the only affront to the Constitution, our rights and the advancement of the police state. Now why, you might be asking, would anyone want to give the president of the United States the arbitrary authority to strip any US citizen of their citizenship with no evidence other than his/her belief that one of us is a terrorist, or supports terrorism, without the evidence supporting that contention, or being officially charged with a crime? Hmmm. Where to start on this one.
Let’s go back to the redefining of prisoners of war (POW’s) as “enemy combatants”. This change in terminology allowed the Bush regime, and now Obama, to by-pass the Geneva conventions on treatment of prisoners, including what has become our government’s proclivity for torture and avoided much of the international rules of war. It didn’t seem like much at the time, but we know now that it was to redefine the individuals targeted; if we don’t call them prisoners of war we don’t have to abide by the rules. Simple.
Next came Homeland Security’s determination that US citizens who oppose government policy, mention the Constitution, support third party candidates like Ron Paul and Chuck Baldwin, were to viewed as possible domestic terrorists along with social advocates, religious advocates and anyone who attended a rally or protest among many other things.
This was followed by the discovery of Homeland Security documents describing who was to be viewed as a clear and present danger to the federal government (not the country) citing the use of REX84 black ops program along with Presidential Directive 51, that no one has been allowed to see, to conduct “Knock & Talk , Sneak & Peek, checkpoints; exigent search and seizure; meaning far more than what would be determined reasonable.
Next came the launching of TSA which had been planned long before 9/11. The unlawful detaining of legal US citizens with the accompanying exigent search and molestation continues to this day for no other reason than they are traveling. HSD has compiled no-fly lists, suspect lists, black lists, suspected domestic terrorists list and a host of other lists most of will never know we are on for reasons we will never actually know. Originally called Total Information Awareness (TIA), the program was shut down in 2003. Like all things the government does, TIA never went anywhere but simply got parceled out to other agencies making it harder to track while the core program was simply renamed TSA.
Most recently, Obama has approved a new program which allows him to authorize the targeted killing of people in foreign countries that the administration decides is a threat (to them) and includes targeting of US citizens right here at home and abroad. This program, which is nothing more than sanctified murder, is a violation of international laws which prohibit the killing of individuals outside of armed combat zones.
The program will allow the CIA or the military the unchecked authority to murder at will, US citizens and others, around the globe without any evidence of crime, threat or violent activity towards the United States, other than they said so.
The intent through all of these assaults on the Constitution and our protected rights has been to find the means to redefine any one of us as a non-military enemy combatant to facilitate the police state. Once redefined, once the definitive description of who and what we are has been altered to suit the government agenda, it is open season on any one of us.
This brings us right back to S. 1867 Defense Authorization Act of 2011. The striking of an amendment stating clearly:
S.1254 included Section 1031
(d) Constitutional Limitation on Applicability to United States Persons- The authority to detain a person under this section does not extend to the detention of citizens or lawful resident aliens of the United States on the basis of conduct taking place within the United States except to the extent permitted by the Constitution of the United States.
http://www.govtrack.us
S.1254 was the predecessor to S.1867 and the latter no longer contains this provision. Now why would anyone remove what is clearly a section meant to protect the citizens of the United States from the actions of their own government?
Section 1031 d) now reads:
Construction- Nothing in this section is intended to limit or expand the authority of the President or the scope of the Authorization for Use of Military Force. http://www.govtrack.us
Considering the president has already been given the authority to strip us of our citizenship, declare us a domestic terrorist and non-military enemy combatant, and to have us killed if he chooses to what is there to limit or expand?
In what is clearly an effort to manipulate public thinking,
Sen. Lindsey Graham said about it on the Senate floor:
CSPAN video
“1031, the statement of authority to detain, does apply to American citizens and it designates the world as the battlefield, including the homeland.”Apparently, I was not as inflammatory and emotional as some would have you believe. Shocked, maybe. Angered for sure. "
http://ppjg.wordpress.com/2011/11/29/5000/
Nicely done. You should submit this as an article.
This told everyone on the planet to run to the dollar.
Repost for relevance:
Old Bernanke had a printer, D-O-L-L-A-R.
And in that printer he had some paper, D-O-L-L-A-R.
With a print-print here, and a print-print there, here a print, there a print, everywhere a print-print.
Then Obama said I need reelected, D-O-L-L-A-R.
He told Bernanke to make it happen, D-O-L-L-A-R.
With a print-print here, and a print-print there, here a print, there a print, everywhere a print-print.
Old Bernanke's banker friends want more money, D-O-L-L-A-R.
They wined and cried they don't have enough, D-O-L-L-A-R.
With a print-print here, and a print-print there, here a print, there a print, everywhere a print-print.
Old Bernanke saw home prices fall, D-O-L-L-A-R.
Deflation scared him stiff, D-O-L-L-A-R.
With a print-print here, and a print-print there, here a print, there a print, everywhere a print-print.
You have some serious meter problems there.
This is getting hilarious, as I type this, DOW futures are up over 300 points.
GlobalPost - How much would this (the US Fed to act as a lender of last resort for debt-laden European nations) cost, and what would the impact be on US taxpayers and the American economy?
There would not be any cost to the taxpayers, since the Fed could carry out this program just as it has done its $2.3 trillion of quantitative easing (QE) since 2008, by creating money.
-The Center for Economic Policy Research (CEPR) co-director Mark Weisbrot
http://tiny.cc/pumel
LIARS AND THIEVES
So, creating money and/or QE doesn't have an associated cost?
..........
By the same token, it also explains why the QE policy has further exacerbated income and wealth inequality, both in Europe and the United States, as it has helped only the financial elite without any help to the public. "The evidence suggests that QE cash ends up overwhelmingly in profits, thereby exacerbating already extreme income inequality and the consequent social tensions that arise from it,"reportsDhaval Joshi, of BCA Research. Joshi further points out that real wages – adjusted for inflation – have fallen in both the US and UK, where QE has been used to promote growth. "The shocking thing is, two years into an ostensible recovery, [UK] workers are actually earning less than at the depth of the recession. Real wages and salaries have fallen by £4bn. Profits are up by £11bn. The spoils of the recovery have been shared in the most unequal of ways."In Germany, meanwhile, where there has been no quantitative easing, real wages have risen.
http://tiny.cc/jes1p
For those who do not know what these swaps are here is a link to a helpful guide
http://www.mindfulmoney.co.uk/wp/mmexplainer/a-guide-to-central-bank-foreign-exchange-liquidity-swaps/
KING DOLLAR
Pardon my average Joe ignorant Zero Hedge reader question...
Anyone explain this in laymans terms? Is this the summary- The Fed is lending dollars (1's and 0's in an electronic ledger that appear out of thin air) to all these central banks?
brill the gold futures are showing the love
Fitch switching outlook to negative on U.S. debt:
http://ftalphaville.ft.com/blog/2011/11/28/768891/fitch-slams-us-indecisiveness-delays-aaa-rating-decision/
NOT A MOMENT TOO SOON
Thanks Josephine 29
Can't let the USD strengthen, now can we :)
Can't let the USD strengthen, now can we :)
I'm really confused why the EURO would go up on this? LOL
Because our FED is printing money to buy Euro's ...... so when they collapse we collapse....... MAED - Mutually Assured Economic Destruction!
Let me try - more USDs are lent out which get converted into EUR. Supply of USD goes up, so price of USD relative to EUR declines.
Tried to take money out of the bank yesterday, they will only let me have 1,000 per day. LOL, if I took $10,000 in there to open an account, they wouldn't tell me I can only put in $1,000 per day. Taking my money out of all banks.
Yes, the banks are in panic mode, and rightfully so. I will be paring accounts and keeping one only to the minimum level. We are all about to feel like Celente.
CANADA SPOTTED! This is bad!
the Federal Reserve (criminal private banking monopoly) has a range of tools (print, print, print) available to provide an effective liquidity backstop (bailout, bailout, bailout) for such institutions (bankrupt Wall Street criminal frauds) and is prepared to use these tools (print, print, print) as needed to support financial stability (ever more pear-shaped manipulated farce of an economy) and to promote the extension of credit (debt, debt, debt) to U.S. households and businesses (funnel another $14 Trillion to Wall Street crooks and bankrupt US Govt quangos)
Its beginning to look alot like Christmas, everywhere you go
Take a look at the 5's and 10's glistening once again
With Crude and Gold aglow
Its beginning to look alot like Christmas.
...........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.
How can anyone not laugh at this fucking lie? This is a slap in the face to very American who can read and think, of course given the current statistics that probably only about 30% or Hussien Obama never would have been elected.
The gov't can now (or will be able to as soon as it is signed into law) arrest you without a warrant and/or probable cause and lock you up without trial or charge (due process) indefinitely. Which do you think should be the bigger outrage to Americans?
"Dialing For Dollars" - the game is ON.........
America! Fuck Yeah! Comin' around to save the motha fuckin' day yeah. America...fuck yea, Freedom is the only way yea. America.... fuck yeah, so lick my butt and suck on my balls
http://www.youtube.com/watch?v=sWS-FoXbjVI
You consder this place free? Better look more carefully at the Levin/McCain bill, could not have been drafted any more anti US Constitution than of Putin wrote it.
It's from the creators of South Park.
Slow your roll Keemo Sabee
Satire isn't taught in the public school system.
2 red arrows=2 goverment trolls.
fucking dolts.
WOW....
now 3 red arrows...
3 red arrows = 3 goverment trolls....
fuck off.
No, you're an idiot.
South Park...watch it.
Stop jumping to conclusions
Eat a horse cock Bob......
God, I love intelligent posts!
like yours you mean.....?
I see I spotted one of the trolls.
Or just another idiot.
Would that the GWR* might quit all this pussy-footing around and declare war on Mars, already.
*Global Weimar Republic (bitchez)
I would say this is SHORTING TIME - anyone remember 2008 the GLOBAL RATE CUT ?? That was prime CRASH TIME
Hope you're right. Except for my BAC Dec puts most of my puts only expire next year.
I know what you’re thinking: “Did he fire six bazookas, or only five?” Well, to tell you the truth, in all this excitement, I’ve kinda lost track myself. But being this is a CB Magnum, the most powerful printgun in the world, and would blow your account clean off, you’ve got to ask yourself one question: “Do I feel lucky?” Well do ya, punk?
" Taking my money out of all banks." - Read the fine print, it's not YOUR money....
is it time to short the market?
btw funny how they again intervene at a critical market juncture like in Aug 2010... The hedge funders at PPT must be sweating hard about the waterfall decline coming for them...
Fyi the article from Oct,8th 2008>>> http://www.guardian.co.uk/business/2008/oct/08/interestrates.banking
Bye bye "crisis". Told you soooooooooo.
...meanwhile in Europe:
China looking to snap up EU factories, railwaysBRUSSELS - China is looking to buy EU factories and railways instead of wobbly government bonds as prices fall amid the eurozone crisis.
Minister of commerce Chen Deming articulated the strategy at a business congress in China on Monday (28 November).
"Next year, we will send a delegation for promoting trade and investment to the European countries ... Some European countries are facing a debt crisis and hope to convert their assets to cash and would like foreign capital to acquire their enterprises. We will be closely watching and pushing forward the process," he said.
Chen's remarks come after the chief of the $410 billion Chinese Investment Corporation, Lou Jiwei, wrote in an op-ed in the Financial Times on Sunday that EU infrastructure needs outside help.
"Traditionally, Chinese involvement in overseas infrastructure projects has been as a contractor only. Now, Chinese investors also see a need to invest in, develop and operate projects," he explained.
Lou praised the UK as "one of the most open economies in the world" and mentioned involvement in a new UK north-south railway project in the context of political hostility to China in some countries.
Chinese port operator Cosco last year bought a 35-year lease for two container terminals in debt-struck Greece. But crisis-hit Iceland last week blocked the sale of a large farm to Chinese businessman Huang Nubo on national security grounds.
Huang said he wanted to build a hotel and a golf course.
Speaking to the Sina Finance news agency, he hit out at what he called European "prejudice ... like the view that state-owned enterprises represent your country, that whatever your background is you're a military business."
"You can come and buy a house, and you can emigrate here and bring your riches with you, or you can buy my luxury goods, but if you want to touch my natural resources, then I'm sorry, I won't let you."
The EU in recent weeks had tried to interest China in buying weak Euroepan bonds instead through a special purpose investment vehicle.
For their part, Chinese analysts predict the spending spree will not begin until prices hit rock bottom.
"The euro zone crisis has not entirely played out and asset prices are very volatile. They haven't found their floor ... Europe is not a resources player, but its manufacturers are what would most interest us, with their market, their technology, and their strong experience," Wang Jun, an economist at the Beijing-based CCIEE think-tank told Reuters
I like it.
Let's play their game and go Hugo chavez on them in few years time!
A repeat of Bloomberg's story of 2 days ago.
can i get a global markets intervention half life chart?
So swap rates are lowered temporarily. What does this solve?
Nothing, but it teaches all those evil shorts a lesson!
And right there is your date for the global crash.
Oh, just shut up and hoard ! I weary of the details ! Prepare for the macro-fucks.....the details take care of themselves ! Fuckin' Eurokinder....blow your noses and wipe your tears ! I thought Canada was special ? Boo hoo ! Rearranging deck chairs on the Titanic ! Monedas 2011 Comedy Jihad Gloat Master ! 1913....2013 Federal Reserve Centennial !
ES futures.. just wow!
http://www.bostonwealth.net/2011/11/30/futures-just-wow/
Repeat of post from this morning- fits here:
If you are a pension fund or something similar forced into specific limited investing guidelines, you are an easy mark for the big guys who are devouring every pile of money they can find
If you are an individual investor, the big guys have data on your moves with the whatever line of thinking you follow. They have 10^9 times more money than you and will use all such advantages to take what you have.
If you invest with someone not in or no longer in their club, you are marked for decimation.
If you invest with someone in the club, like GS, you are still fodder for their execs who will feast on your losses.
If you are deeply insightful, very nimble, and have the ability to position counter trend for quick moves, you might make some money, but only by investing funds you can fully afford to lose. Understand that all the odds are aligned against you and they have cards you have not even imagined.
@Tao Well put!
Man, is every market totally and absolutely fucked. Shanghai down 3% DAX up 5% in a few hours. AUD totally fucking bizarre.
Hey, Bernanke, why don't you goose stocks 20% every day. We can all be super billionairs in 6 months.
You never seen such world wide, blatant in your face corruption of everything.
If you don't own gold and silver then you will be in the streets with Robotrader going through bins looking for used toilet paper to eat.
The market gets a little rocket fuel, and for another day, gravity does not exist. Don't look down, the black hole is still there.
BUY GOLD! BUY GOLD AS FAST AS YOU CAN, LET NO ONE STOP YOU!!!!!
Hmmmm... maybe the China move today on reserve requirements wasn't done with full knowledge of more credit sloshing out of the FED bowl? Hank Paulson might have tipped them off.
Interesting how this coordinated central bank bailout is announced just hours after bank ratings were downgraded last night.
Those downgrades are already swept down the memory hole, since the next-day market reaction is now to the upside.
Lend more to weak borrowers: central banks tread where cautious investors flee. But as bank cartels, that's their mandate.
So as I understand it, this means banks don't have to liquidate their abysmal assets to get cash, because they can have whatever cash they want from the CBs to maintain those positions. So they can continue to avoid marking to market and getting margin calls, and pretend that all of their investments are pure gold. And because we know the banks can do this indefinitely with inpunity, their share prices look better. Is that about right?
More importantly, the bankstas can quit frettin about their year-end bonuses, mr. magoo. And not a minute too soon!
The irresponsible behavior in which Bernanke et al are prepared to engage, for what will turn out to be a very short kick of the can, is beyond the pale.
This is straight from the loser's triple down playbook of Nick Leeson and Brian Hunter.
Global Coordinated Moral Hazard
Let no irresponsible person be left behind.
Did I tell you? /6E is looking very sexi.
http://quotes.ino.com/exchanges/contracts.html?r=CME_6E
Wheeeeeee!!! Ice cream for everyone!!
Where, oh where is RoboTarder to give us mere mortals advice on how to handle this unexpected turn of events and get wildly rich like Him? /wail
Nobody, and I mean nobody could've foreseen Ben Shalom coming along with His printing presses to save the day!
Worldwide inflation ... and El-Erian says the ECB needs to go all in. I think that's just what happened a-hole.
Sarkozy will be demanding the Martians bailout Europe and French banks, us being all from the same solar system and all.
The Martians fortunately will not be as systemically dumb, corrupt and stupid as the Fed, ECB, EU and will have nothing to do with Earthlings.
In Martian the word 'Bernanke' means:- moronic-super-galatic-douche-bag
"Mars-Martian" Interesting choice of words Kina; Mars is the god of war - Which is apparently where we are all going is the big WW3.
Does anyone in the mainstream, I mean ANYONE, ever stop and ask if this stuff worked, why do we have to do it again? And again. And again.
Is anything produced in this? Is this investment and real wealth creation? Is this a driver for jobs? Does this leave the system with less total debt or more total debt? Where are energy and global food prices headed because of this?
And most of all, doesn't ANYONE in the mainstream ever question that we're locked in this endless lunatic cycle of having central banks "solve" problems that central banks caused to begin with? How is it that central banks get the never ending luxury of endless failure, and then we move to the next central bank "fix" and everybody gets down on their knees praising the central banks while somehow not noticing that the central banks have been the problem all along.
What other entities in our society get this luxury of endless failure, and then have praise heaped upon them left and right for once again doing for the umpteenth time the exact same thing that has failed from the beginning?
Who gets this luxury?
If this handful of central planners EVER knew what they were doing, wouldn't we have been out of the mess long ago?
How many times are they going to have a free hand to "do something," when not only have the previous things they've done not worked, but it's made things worse?
We are trapped in a surreal insanity from which there seems no escape. What good is analysis any more, it's time to start talking about stark raving madness. Because that's what it is, complete and total madness.
Ron Paul noticed.
fuck fuck fuck, i was short, fuck fuck fuck
You know the world we live in is REALLY,REALLY,FUCKED ,when people have to RUN to the USDollar. What a fucked up,phony, piece of shit world I LIVE IN.
Everything from the monetary system to the ,courts and the fucking weather are MANIPULATED.....and NOT for the benifit of the common man.
..............FUCK YOU'S Manipulators......FUCK YOU's......................!!!
Well, Good Morning, nice day here. How many times have we said they will print to infinity.
How many times have we advised tough to "short" this market for more than a few hours or a day or two.
And how can anyone with a modicum of intelligence not own physical gold and silver.
How long will this buzz last. We all know it "wears off" after a while.
NOTHING IS SOLVED, NOTHING! There goes the can, closer and closer to the edge of the cliff.
Here is what millions are thinking this morning:
GET TO THE BANK AND WITHDRAW LOTS OF MONEY ASAP!!!
Clearly, the time for panic has never seemed more exigent. The Fed has already been (not so quietly) printing billions in digital money for Europe's bailout. Germany has a gun pointed at its head by the banksters demanding that it go on a printing crusade immediately. However, at this point, nothing will save the global economy from systemic collapse. In fact, by gradually printing billions and trillions, TPTB are actually hastening global economic collapse.
RUN to your bank before the runs stop you.
Can now clearly see the Occupy Soup Kitchen movement coming to a city near you
Ond oil (WTI) instantly surges over $100/bbl. Thanks Ben. Happy holidays to you too. I'm glad I gassed up yesterday for my trip to Florida tomorrow. Now all I have to worry about is whether I can afford to get back home.
Well, on the bright side of things, they can't cut rates much lower. So, in essence the CBs are using up their last bullets...when things start going down again, what exactly will be left at their disposal?
This should break out Silver from it's downtrend with this news. Just purchased 500 more Oz's this morning after I heard this news.
I fucking guess this is how American Capitalism works......
You know....
Let the weak fail,and a new ,better business model pick up the pieces...right...?
Right....
American Capitalism,and American Democracy,seems harmful to the people of the world.
Fed comes to save the world again, shdn't it be ECB doing this job this time? solving this European mess... This is just helping, not solving..the problem.
I think Zero Hedge could document that more than 60% of market moves happen either after hours or before the market opens. Impossible to trade this crap.
And oil at 101. Yup the sheeples will be happy with $4.00 gas.
Britiain bringing home its Ambassador. All is well, man oh man. I stopped shorting a long time ago with gusto, but this sure looks like a good spot. Spoos right up against major resistance. 0
Eh, I would have expected a bigger pop on this news, frankly- barely makes up for last week.....
Will be interesting to see if this saves whatever bank was about to go under.......