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Prayers Denied As Fed Disappoints - Full Statement Redline

Tyler Durden's picture


And not only did the Fed disappoint, but it didn't even extend ZIRP through 2015. Sorry Hilsenrath, better luck next time


And if markets are surprised by this goose-egg according to which the September FOMC will at best be the ZIRP extension that was supposed to take place today just so Congress can sort its own mess out with the Fed, wait until Draghi confirms what we said last week: that he was merely posturing and is totally impotent without the Buba's blessing. Then you will see pain in a market which is 5% higher than where it would be absent his headfaked posturing.

Full redline:



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Wed, 08/01/2012 - 14:22 | 2669575 Chuck Bone
Chuck Bone's picture

"will provide" 

Wed, 08/01/2012 - 14:25 | 2669595 malikai
malikai's picture

For those watching QSN today, note we are only about 1/2 way through convergence. There's still plenty more downside to go.

Wed, 08/01/2012 - 14:26 | 2669614 strannick
strannick's picture

And only a 6 buck cough from gold.

Wed, 08/01/2012 - 14:28 | 2669635 Rubicon
Rubicon's picture

It was a fart

Wed, 08/01/2012 - 14:32 | 2669666 SilverTree
SilverTree's picture


Wed, 08/01/2012 - 14:34 | 2669677 Precious
Precious's picture

Ben was last seen surfing Craigslist for used printing presses.

Wed, 08/01/2012 - 14:43 | 2669740 strannick
strannick's picture

Why used when he could just print the money to buy new?


Wed, 08/01/2012 - 14:52 | 2669772 The Monkey
The Monkey's picture

Wow. I'm surprised. The ECB must have something really big in store.

Wed, 08/01/2012 - 14:59 | 2669788 Dr Benway
Dr Benway's picture

HAHA! It's inflation of easing action! Instead of giving us printing to prop up the market, now we are given only vague promises of printing. And when that starts getting ineffectual?


Also so funny to read in MSM about good news from these meetings. What good news could there possibly be? "We are so fucked we are going to counterfeit vast amounts" would be good news?


Charts on massive Australian market manipulation:

Wed, 08/01/2012 - 15:06 | 2669820 strannick
strannick's picture

Golds freakin me out. Its just sitting there, pegged on 16 hun. Its like its going to start vibrating out of control and the bridge will fall down.

Wed, 08/01/2012 - 15:07 | 2669827 economics9698
economics9698's picture

Food inflation is going to be a mother fucker, did I just say Ben Bernanke?

Wed, 08/01/2012 - 15:31 | 2669940 AldousHuxley
AldousHuxley's picture

Obama doesn't care


He has a choice between being a masterful, Machiavellian politician like Bill Clinton (good for one's career) or a great transformative leader like Abraham Lincoln (good for the nation)


Obama #1 priority is to ensure the establishment


Obama is a puppet says black comedian

Wed, 08/01/2012 - 16:07 | 2670109 AldousHuxley
AldousHuxley's picture

Obama inherited $500,000 from his grandmother who was Vice President of Bank of Hawaii


Obama's father alraedy had a family (wife + kids) in Kenya, when he married Obama's mother (onyl after he got her pregnant), then ditched her to study phD in economics at Harvard. Obama Sr.'s life fell into drinking and poverty, from which he never recovered.


Romney is son of American Motors Corp, CEO and 3 time governor of Michigan, who also ran for president in 1968. As a student never had to worry about money as he took flights to see his girlfriend on weekend, bought a home, etc. WITHOUT A JOB. On his missionary to france, he lived in one of richest neighborhood in Paris others call "palace", which eventually became the building for the embassy of the United Arab Emirates. worth as much as $12 million. His wife is typical gold digger as she never really had a job and had majored in useless French Lit in college.


Choose from one elite for another, these people never knew what it is to be like to be without money or parental financial support.

Wed, 08/01/2012 - 16:58 | 2670240 HungrySeagull
HungrySeagull's picture

Stop stressing.


Gold price falls, buy more.

Gold price rises, keep it home.

Wed, 08/01/2012 - 14:59 | 2669796 fonzannoon
fonzannoon's picture

Monkey no offense but I think you may have overestimated the situation. But who knows....

Wed, 08/01/2012 - 14:51 | 2669771 BeetleBailey
BeetleBailey's picture


Wed, 08/01/2012 - 14:35 | 2669690 Sudden Debt
Sudden Debt's picture

it will lose some more for a while because the market is going to tank bigtime.
maybe the algo was there to do something tomorrow to keep it from crashing,who knows.
but the worse it gets, the more gold might really pop up now because it will get really clear that the last big printjob will soon come which will knock down the dollar and the euro in a big way.

Wed, 08/01/2012 - 14:40 | 2669725 Vaiman
Vaiman's picture

As per bloomberg



U.S. Stocks Fall as Fed Fails to Bolster Confidence Wow.....big fall....huh.....the S&P is down a whopping $1.66.  What kind of retard medicine are these people on?
Wed, 08/01/2012 - 15:15 | 2669858 mktfizx
mktfizx's picture

I hope it stays where it is.  Otherwise I will look stupid in my new "Dow 13000" hat.

Wed, 08/01/2012 - 15:21 | 2669887 ZeroAvatar
ZeroAvatar's picture


Wed, 08/01/2012 - 14:37 | 2669668 slewie the pi-rat
slewie the pi-rat's picture

look: Markets - Chart for U.S $ INDEX (NYBOT:DX)

and it looks like you may be right... least for now!

Wed, 08/01/2012 - 15:14 | 2669777 slewie the pi-rat
slewie the pi-rat's picture

not me;  i'll only play in casinos for years now

but we can take solace that the FX tail has wagged the dog for another day, another week

re-test and repeat of last week?  buy time?  keep everything screwed down tight?

or is this the down-draft "like last year"?  that FX spike is pure "there are no markets--only interventions" so be careful

these guys have done pretty well painting the charts recently;  not that that means they won't lose control by 4PM eastern, of course...

...  ... ...  they coulda pushed this either way, imo, as i've said, with the FX;  i just guessed wrong maybe b/c it seems to be going to risk0ff rather than uncharacteristically staying on risk0n a bit longer

so this was the obvious guess after last friday's risk0n, but the dollar is blowing right thru 83 as i edit, so there is that deflationary "commodity price" brake being applied

but the 10 & 30 years are just starting to 'recover' from a significant price dip here today, so things seem a little schizoid about the whole dog & pony show, to me

i'm surprised equites seem as strong as they are right now

Wed, 08/01/2012 - 15:17 | 2669871 slewie the pi-rat
slewie the pi-rat's picture

if truth be told

unicorns are shooting outa my bong here,  BiCheZ!

Wed, 08/01/2012 - 14:35 | 2669686 Nadaclue
Nadaclue's picture

I found that statement very telling from last meetings "May Provide".

Wed, 08/01/2012 - 14:35 | 2669687 Atlantis Consigliore
Atlantis Consigliore's picture

you dont think 60,000 mini s and p sales at 2;59 front run? do you?  



Wed, 08/01/2012 - 14:45 | 2669744 Divine Wind
Divine Wind's picture

I was thinking the same thing.

Someone got the heads up and offloaded at the last min.

Wed, 08/01/2012 - 14:37 | 2669701 SeverinSlade
SeverinSlade's picture

That idiot that declared that Hilsenrath is actually the Fed Chairman was just proven to be an idiot.

Hilsenrath is just the fool that dangles the QE carrot in front of the market to give the HFT algos something to levitate on.

Wed, 08/01/2012 - 14:49 | 2669764 FL_Conservative
FL_Conservative's picture

While EUR/USD is dropping, it looks like the overall markets won't move until Draghi has to fess up that there's a turd in the punchbowl that they've been getting served from.  I can wait.  Tick, tock....

Wed, 08/01/2012 - 15:26 | 2669912 kralizec
kralizec's picture

"cross his heart,hope to die"

Wed, 08/01/2012 - 14:23 | 2669578 Debtonation
Debtonation's picture

The Fed will always give the market what it wants...eventually.

Wed, 08/01/2012 - 14:28 | 2669629 poor fella
poor fella's picture

Since 'Fed Day' is so important to The Global Economy, it should be a HOLIDAY!
Hmm, what to name it? 

How about:

1. "00000110 00000110 00000110", which is hard for carbon based units to pronounce so we'll call it 'Zerones Day' (which sounds like Zambonis).

2. or "SSDD-Day"

Wed, 08/01/2012 - 14:28 | 2669634 Jlmadyson
Jlmadyson's picture

True, though at that point it will be far too late.

They have even managed to pull the wool over their eyes.

It all comes back around..,,,

Wed, 08/01/2012 - 14:35 | 2669685 Caviar Emptor
Caviar Emptor's picture

Fed is boxed in because of Biflation: can't ease more due to rising prices which will just accelerate deflationary trends in employment, wages and consumption (ie, off shoring, downsizing, layoffs and wage deflation)

Wed, 08/01/2012 - 14:49 | 2669761 Cursive
Cursive's picture

@Caviar Emptor

Exactly.  Ben can have Dow 13k or he can have sub-$4/gal. mogas, but he can't have both.  Decisions, decisions.

Wed, 08/01/2012 - 15:27 | 2669925 Race Car Driver
Race Car Driver's picture

What would Monty Hall say? What's behind door number 3, anyhow?

Wed, 08/01/2012 - 14:23 | 2669579 Slope of Hope
Slope of Hope's picture

Cue "Full Retard" algo

Wed, 08/01/2012 - 14:35 | 2669669 spastic_colon
spastic_colon's picture

They bought another month of market rally cuz now September is REALLY the new QE us

Why do anything when you can use just the expectation to pump markets, they now know that any new QE will be viewed as the last, and quickly be faded, so just jawbone infinitum! They can now use the MSM to pump "September" headlines.

Wed, 08/01/2012 - 14:23 | 2669581 PicassoInActions
PicassoInActions's picture

why even have meetings when nothing is changed.

Wed, 08/01/2012 - 14:26 | 2669610 Piranhanoia
Piranhanoia's picture

the only way they get a chit for a free lunch

Wed, 08/01/2012 - 14:31 | 2669656 SoNH80
SoNH80's picture

Overburnt fried chicken and greasy collard greens with Crisco biscuit and hard margarine, mm--mmm--mm, D.C. gov't. cafeteria food is "dee-licious".

Wed, 08/01/2012 - 14:26 | 2669612 Cassandra Syndrome
Cassandra Syndrome's picture

Before 1981, the FOMC met only 4 times a year. What would the Balthsalt crackheads on Wall Street do if that were the case now?

Wed, 08/01/2012 - 14:26 | 2669613 HD
HD's picture

Propaganda only works when there is a steady stream of it...

Wed, 08/01/2012 - 14:29 | 2669643 Hype Alert
Hype Alert's picture
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Joseph Goebbels

Wed, 08/01/2012 - 14:58 | 2669791 economics9698
economics9698's picture

He learned that from Woodrow Wilson.

Wed, 08/01/2012 - 15:30 | 2669936 rwe2late
rwe2late's picture


However accurate that alleged quote may be in describing what Hitler and Goebbels practiced,

it is historically inaccurate to claim Goebbels actually said that. There is no source to reference that quote.

What can be properly attributed is that Goebbels accused NAZI Germany’s enemies of using a ‘big lie’ tactic.

“The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous.” 


Since we are on the topic of big lies, another more recent one repeated often by US politicians (including Obama and Romney) is that Ahmadinejad said “Israel should be wiped off the map.”


Actually, Ahmadinejad said nothing of the kind.

 “Wiped off the Map” Fabricated 

Wed, 08/01/2012 - 14:27 | 2669619 Itch
Itch's picture

For tea and biscuits, obviously.

Wed, 08/01/2012 - 14:23 | 2669582 fonzannoon
fonzannoon's picture

metals down. stocks flat. mission accomplished.

Wed, 08/01/2012 - 14:26 | 2669615 Hype Alert
Hype Alert's picture

The algo's must be about to burn a chipset out keeping this up.

Wed, 08/01/2012 - 14:35 | 2669688 cougar_w
cougar_w's picture


"Captain! We need more dilithium crystals! She kinna take nay more!"

Wed, 08/01/2012 - 15:13 | 2669632 HarryM
HarryM's picture

The arrangements were all in place to keep the lid on (VIX down)-- we'll see what happens tomorrow

Wed, 08/01/2012 - 14:31 | 2669652 Money 4 Nothing
Money 4 Nothing's picture

Legitimates the coup and cover. It has to jive with FOMC representation of inflation or the game is over.

Wed, 08/01/2012 - 15:18 | 2669873 Tsunami Wave
Tsunami Wave's picture

It's starting to get prett-y expensive for JPM and HSBC and other criminal banking elements to keep knocking the prices down and only make it to a few dollars for gold and change for silver.  Soon either those prices will have noplace else to go but up, or down (temporarily) if a full scale stock market crash takes place.

Wed, 08/01/2012 - 14:24 | 2669583 same old story
same old story's picture

to be expected and the WSJ guy did his job it was to goose the market up on hope.  now hope will move to the ecb and tomorrow

Wed, 08/01/2012 - 14:24 | 2669584 GolfHatesMe
GolfHatesMe's picture

PPT Team, Don't even think about leaving at 3:59:57 Today either!    - The Sack

Wed, 08/01/2012 - 14:24 | 2669585 Cursive
Cursive's picture

This is my complete and utter lack of surprise. {sigh}

Wed, 08/01/2012 - 14:24 | 2669586 Auburn
Auburn's picture

Priced in and time for a bounce /sarc off/   f'd up markets - algo's gone crazy, fed gone crazy, knight gone crazy .... baaaaaaaah!

Wed, 08/01/2012 - 14:25 | 2669606 DeFeralCat
DeFeralCat's picture

Badmitton players fixing matches....

Wed, 08/01/2012 - 14:30 | 2669646 HD
HD's picture

Indeed. The three people on the planet who actually watch badminton are really pissed.

Wed, 08/01/2012 - 14:49 | 2669762 NotApplicable
NotApplicable's picture

"Don't hate the player, hate the game."

What kind of idiots would set up a competition where you can successfully sandbag? In that case, you'd have to be non-competitive if you actually tried to compete! If I was on any of those teams, I would just sit on the floor and do nothing during the match, forcing an end to the idiocy.

Every team should challenge the outcome of these matches, and they should restructure the event in order that winners win and losers lose.

Wed, 08/01/2012 - 14:58 | 2669730 Normalcy Bias
Normalcy Bias's picture

It's only a matter of time before a doping scandal hits Racewalking...

Wed, 08/01/2012 - 14:29 | 2669641 sunaJ
sunaJ's picture

Elaine said it best about these markets.

Wed, 08/01/2012 - 14:24 | 2669588 Racer
Racer's picture

"Waffle, lie, waffle, lie"

Wed, 08/01/2012 - 14:24 | 2669589 Hype Alert
Hype Alert's picture

And they're trying to tell me the market didn't have this priced in before the announcement?  The flood gates should open soon.  It may be slow at first, but it'll come.

Wed, 08/01/2012 - 14:43 | 2669741 KidHorn
KidHorn's picture

It will come early next year. After the election.

Wed, 08/01/2012 - 23:06 | 2671064 Jungle Jim
Jungle Jim's picture

"Any Day Now"

anyday, now... it's gonna start - my real life.
and anyday, now: everything is gonna be all right...
anyday, now: life's gonna get real good.
and somehow: life'll be like i said it would

anyday, now - mark my word!
anyday, now - i will be heard!
anyday, now - my ship will finally come in...
anyday, now: i'm gonna jump right in.

and anyday, now: my destiny will begin.
and until then i'll just be here
wasting my time...
but, don't you worry,
i'll be just fine:

anyday, now - mark my word!
anyday, now - i will be heard!
anyday, now - my ship will
finally come in...

Wed, 08/01/2012 - 14:24 | 2669590 allbetsoff
allbetsoff's picture

fibonacci versus algos and the gloves are off..

Wed, 08/01/2012 - 14:24 | 2669591 Gringo Viejo
Gringo Viejo's picture

No further easing until the child king has been peaceably deposed.

Wed, 08/01/2012 - 14:25 | 2669592 rubearish10
rubearish10's picture

Draghi has the boton!

Wed, 08/01/2012 - 14:25 | 2669593 fonzannoon
fonzannoon's picture

wait till Draghi disappoints tomorrow and we get full retard rally.

Wed, 08/01/2012 - 14:28 | 2669636 rubearish10
rubearish10's picture

"Can't make this up"? YES THEY CAN!

Wed, 08/01/2012 - 14:28 | 2669637 rubearish10
rubearish10's picture

"Can't make this up"? YES THEY CAN!

Wed, 08/01/2012 - 14:25 | 2669596 Jlmadyson
Jlmadyson's picture

Benny Boy Bernake:

Dear God, make me a bird, so I can fly far, far away from here....

All good for the euro right?

Print Draghi until you can print and ease no more.

Wed, 08/01/2012 - 14:25 | 2669597 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

They just have no reason as long as Europe is in turmoil.


See ya'll next year

Wed, 08/01/2012 - 14:25 | 2669598 The trend is yo...
The trend is your friend's picture

But the bloomberg radio clowns  told me yesterday the case shiller housing number was a "great number all around"

Wed, 08/01/2012 - 14:25 | 2669599 Yen Cross
Yen Cross's picture

Now all the pin head Qe addicts are spinning spinning silk out of lint, for a September Fed. move. Pathetic!

Wed, 08/01/2012 - 14:25 | 2669601 DavidJ
DavidJ's picture

shouldn't stock be tanking?

Wed, 08/01/2012 - 14:25 | 2669604 SoloBolo
SoloBolo's picture

The Forex just went full fledged retarded WTF

Wed, 08/01/2012 - 14:26 | 2669607 Satan
Satan's picture

Looks like Benny doesn't want to use his last bullet just yet...

Wed, 08/01/2012 - 14:27 | 2669626 GolfHatesMe
GolfHatesMe's picture

"Oh, My Darin' Barney Fife"
(Sung to the melody of "Oh, My Darlin' Clementine")

In a jailhouse, down in Dixie, fightin' crime and riskin' life,
Dwelled a sheriff and his buddy, pistol-packing Barney Fife.
Oh, my darin', oh, my darnin' oh, my darin' Barney Fife.
He's a deadly crime-stopper, what a copper Barney Fife.

Then one day there come a-ridin' two bad men to rob a bank.
But Fife was tricky, a dead-eye dickey. Now they're locked up in the tank.

(Andy added the following)
Oh, my Barney, oh, my Barney, had a jail and couldn't lock it.
Had one bullet for his pistol, had to keep it in his pocket

Wed, 08/01/2012 - 14:30 | 2669649 NEOSERF
NEOSERF's picture

Perhaps the Fed is using a bullet as there is NO rational reason that the markets aren't declining 400 pts on this went up 800 pts the previous week on hope for this and LTRO, so WTF!??  It seems that the markets have reached a new state...sort of like that movie with John Hurt - Altered states where he is floating in some parallel universe that really doesn't even care about Central bank now ignores fundamentals, valuations, future trends, regression analysis, charting, government moves and comments, frauds, ponzies, bankruptcies, war,  and has entered a new world where the computer which is immune to information and emotion simply keeps bidding up every hour, every god this is getting bad.

Wed, 08/01/2012 - 14:26 | 2669608 same old story
same old story's picture

socks flat.  so guess doesn't matter is fed delivers although that matters are rumors of more qe

Wed, 08/01/2012 - 14:26 | 2669611 Dr. Engali
Dr. Engali's picture

Fed says it will provide additional accommodation as needed...translation....sell the market down you stupid fucks so we can print!

Wed, 08/01/2012 - 14:27 | 2669617 sudzee
sudzee's picture

Everything is already "priced in the market".

Wed, 08/01/2012 - 14:27 | 2669618 SMG
SMG's picture
Wed, 08/01/2012 - 14:27 | 2669621 Neethgie
Neethgie's picture

Draghi has to come up with something mindblowing.

retard rally over, services resumed as normal.

Wed, 08/01/2012 - 14:35 | 2669684 youngman
youngman's picture

He has to find a better word for WILL....maybe Supercalafragilisticexpialadoshes......thats kind of European....

Wed, 08/01/2012 - 14:27 | 2669623 Byte Me
Byte Me's picture

Check to Drugghi..

Oh look, EUR bounces from 60 pt plunge - sort of...

Wed, 08/01/2012 - 14:27 | 2669625 Meesohaawnee
Meesohaawnee's picture

"as needed" ie SPY 1100 bitchez

Wed, 08/01/2012 - 14:35 | 2669691 poor fella
poor fella's picture

Nope, because that MAKES SENSE! Negate everything, i.e. bullish Apple to $824/share. 

we be living in crazyland

Wed, 08/01/2012 - 14:47 | 2669628 ATG
ATG's picture

Options Overnight bought open long SPY Calls near today's FOMC lows and yesterday's E Mini mini "Flash Crash" lows:

Market with the worst sentiment since 1985:  

Big4 still long SPX, Point and Figure still targeting 1550 SPX... 

Wed, 08/01/2012 - 14:29 | 2669639 youngman
youngman's picture

50% Politics....50% out of bullets

and to think I left the Whore House early just for this......

Wed, 08/01/2012 - 14:36 | 2669693 Bastiat
Bastiat's picture

You're a broker?

Wed, 08/01/2012 - 14:29 | 2669640 Racer
Racer's picture

Fed to savers: F*ck you!

Wed, 08/01/2012 - 14:35 | 2669683 Bastiat
Bastiat's picture

Fed to pension funds:  same.

Wed, 08/01/2012 - 14:37 | 2669706 youngman
youngman's picture

Oh no...the pension funds are buying Chinese penny stock bonds paying 12%......its all to make that 8% you know

Wed, 08/01/2012 - 14:30 | 2669644 Kaiser Sousa
Kaiser Sousa's picture

So Dow up 400 plus on anticipated Fuck face Berstanke action...
Gold and silver attacked....
Dow not down on no Fuck face Berstanke action....
and Gold & Silver attacked...
Got it.....uh, huh.....GOT IT!!!!

Wed, 08/01/2012 - 14:33 | 2669672 Jlmadyson
Jlmadyson's picture

They want the Draghi save with all his big talk which will ultimately disappoint as well and of course euro negative.

Wed, 08/01/2012 - 14:48 | 2669755 Bunga Bunga
Bunga Bunga's picture

Looks like they watch gold & silver resistance at 1525/26 very closely. Don't fight the FED.

Wed, 08/01/2012 - 14:31 | 2669651 azzhatter
azzhatter's picture

What do these fucktards exactly do in a two day meeting?

Wed, 08/01/2012 - 14:34 | 2669676 Bastiat
Bastiat's picture

It involves a circle . . .

Wed, 08/01/2012 - 15:02 | 2669804 Dr. Engali
Dr. Engali's picture

They play duck duck goose?

Wed, 08/01/2012 - 15:12 | 2669851 Bastiat
Bastiat's picture

Every so many years.

Wed, 08/01/2012 - 14:43 | 2669738 Lore
Lore's picture

Good question. The speechwriting couldn't possibly take more than an hour, two at most, with interruptions. So what does that leave, besides food, debauchery, shorting the real economy, tinkering with smartphones and performing complex rituals?

Seriously, what the heck do they really do at those meetings? 

Wed, 08/01/2012 - 15:35 | 2669961 Vince Clortho
Vince Clortho's picture

Tell jokes about the Muppets.

Wed, 08/01/2012 - 14:31 | 2669653 max2205
max2205's picture

savers will continue to starve till 2015 if they live that long.... Benturd

Wed, 08/01/2012 - 14:46 | 2669750 Jim B
Jim B's picture

Ben B.....  What a jerk off!

Wed, 08/01/2012 - 14:31 | 2669655 lizzy36
lizzy36's picture

Well at least housing bottomed.


Wed, 08/01/2012 - 14:34 | 2669678 malikai
malikai's picture

Buy The Fucking Dramamine?

Wed, 08/01/2012 - 14:31 | 2669657 Wynn
Wynn's picture

when does "priced in" get priced out?

Wed, 08/01/2012 - 14:31 | 2669658 Meesohaawnee
Meesohaawnee's picture

now. can we finally NOT get our panties all ruffled over the jobs report??? really. non events non evets. algos do what they want regardless.

Wed, 08/01/2012 - 14:32 | 2669659 Money 4 Nothing
Money 4 Nothing's picture

Hey boy's, keep those engines running, I"m in and out...

Wed, 08/01/2012 - 17:01 | 2670249 HungrySeagull
HungrySeagull's picture

Until you run up behind a old biddy who is counting change carefully while using every one's waiting time to get in as much social contact.

Wed, 08/01/2012 - 14:32 | 2669660 Sands8oo
Sands8oo's picture


Camera accidentally pans to Steve Leisman who is furiously wackin himself whie staring longingly at Mandy Drury!!!

Wed, 08/01/2012 - 14:39 | 2669712 azzhatter
azzhatter's picture

more likely wacking himself as he looks at Simon Hobbs

Wed, 08/01/2012 - 14:57 | 2669790 Money 4 Nothing
Money 4 Nothing's picture

Whacking himself watching the FOMC brief wishing he was under Bernanki's table.

Wed, 08/01/2012 - 14:32 | 2669661 PicassoInActions
PicassoInActions's picture

evrery1 knew fed will do nothing and every1 hoped fed will do something

knowledge vs hopium=fight!

Wed, 08/01/2012 - 14:32 | 2669663 Let The Wurlitz...
Let The Wurlitzer Play's picture

Did Hilsenrath approve this ????


Wed, 08/01/2012 - 14:32 | 2669664 Bastiat
Bastiat's picture

Chairtoad sweating out hallucinagenic slime.

Wed, 08/01/2012 - 15:27 | 2669703 poor fella
poor fella's picture

I need a lick to straighten out this crazy place

Wed, 08/01/2012 - 14:33 | 2669665 ThunderingTurd
ThunderingTurd's picture

So...let me get this straight.  Fed talks about action we rally.  Fed does nothing we rally.  Fed does something we rally.  So logical.

Wed, 08/01/2012 - 14:33 | 2669667 silvermaister
silvermaister's picture

buy silver phyzz


Wed, 08/01/2012 - 14:54 | 2669727 Money 4 Nothing
Money 4 Nothing's picture

Gold and Silver should have popped the top off the last resistant level and shoot up 45.00 and 5.00 and it didn't because it would reveal the whole scam. Did the opposite, they admitted, inflation will go up and Gold tanks, real nice.

Wed, 08/01/2012 - 14:54 | 2669783 ParkAveFlasher
ParkAveFlasher's picture

I wouldn't count out the PMs.  The spot prices between gold and silver no longer appear perfectly ganged and their mutual attachment to the EURUSD seesaw has also lapsed lately, if only now and then.  I am a compulsive watcher of spot prices - actually it's my line of work - and those prices can indeed be meaningful if you watch them closely enough.  There are major paradigm shifts at play.

Wed, 08/01/2012 - 15:09 | 2669836 Money 4 Nothing
Money 4 Nothing's picture

I will take your word for that right now, but after Dragi speaks tommorow with action will prove either you or me *correct, we shall see.

Wed, 08/01/2012 - 14:34 | 2669675 Bastiat009
Bastiat009's picture

The Fed owns the gold market. Total control. Good luck to all. Actually, the Fed is in total control of the global economy and controls who should fail or win. Insolvent banks are still in business and broke bankers are still filth rich. That's all folks.

Wed, 08/01/2012 - 14:46 | 2669752 strannick
strannick's picture

It owns the gold market, just not the gold

Wed, 08/01/2012 - 14:34 | 2669680 LawsofPhysics
LawsofPhysics's picture

No worries, the PPT has got your back. < sarc off >

Wed, 08/01/2012 - 14:34 | 2669681 Mr_Wonderful
Mr_Wonderful's picture

Flash crash one of these day

Wed, 08/01/2012 - 14:54 | 2669782 allbetsoff
allbetsoff's picture

something is very off keal..  relation between SPXU and SDS to the S&P is not matching..  i don´t know if this is carryover from this morings algo quagmire, but have never seen this before..  Going short and market is down and still losing.. :-)

Wed, 08/01/2012 - 14:35 | 2669689 agent default
agent default's picture

QE3 will happen when everybody is convinced that it won't.

Wed, 08/01/2012 - 14:36 | 2669694 Jlmadyson
Jlmadyson's picture

It is going to be one long month after Draghi rolls tomorrow.

Nothing but tears. Bank it.

Wed, 08/01/2012 - 14:36 | 2669695 topshelfstuff
topshelfstuff's picture

Same ironic Carrot dangled:


i.e. = IF the Market Tanks we'll be there with QE3

next move = the Market goes up, canceling any QE....even mentioned he's hoping the Market does his work

Wed, 08/01/2012 - 15:05 | 2669819 Haager
Haager's picture

Such a crash needs to be well organized so that the players can get  the highest possible profit out of it. Oh, yeah, banksters win...

Wed, 08/01/2012 - 14:36 | 2669696 yrad
yrad's picture

I am Jacks misplaced anger...

Wed, 08/01/2012 - 14:36 | 2669697 Atlantis Consigliore
Atlantis Consigliore's picture

Put on the Strippers Video on FED Day.... go do the Algorithm Strip Tease!!!

Wed, 08/01/2012 - 14:36 | 2669698 allbetsoff
allbetsoff's picture

SDS and SPXU both completely whacked... S&P down 3 points and SDS and SPXU staying negative.. WTF 

Wed, 08/01/2012 - 14:37 | 2669700 Meesohaawnee
Meesohaawnee's picture


Wed, 08/01/2012 - 14:37 | 2669702 Tim Knight from...
Tim Knight from Slope of Hope's picture

This must be the world's most awesome job. Get a paycheck - direct deposit, probably! - for doing absolutely  nothing.

Wed, 08/01/2012 - 14:37 | 2669704 katchum
katchum's picture

I'm impressed by Bernanke, holding tight and letting the free market economy run its course. Good job!

Wed, 08/01/2012 - 14:52 | 2669774 Getting Old Sucks
Getting Old Sucks's picture

Nah, he's just gonna let ZIRP break everybody before he hyperinflates.  What's the difference if a loaf of bread costs $2 or $100 if you only have fifty cents.

Wed, 08/01/2012 - 15:01 | 2669801 Money 4 Nothing
Money 4 Nothing's picture

Free Market.. cough, choke wha whaaaa? Moron.

Wed, 08/01/2012 - 14:38 | 2669708 caimen garou
caimen garou's picture

looks to me like old bullshit bernake has lost his toolbox

Wed, 08/01/2012 - 14:40 | 2669723 Jlmadyson
Jlmadyson's picture

The toolkit be empty.

Wed, 08/01/2012 - 14:52 | 2669773 Lore
Lore's picture



Sun Tzu: "Carefully study the well-being of your men, and do not overtax them. Concentrate your energy and hoard your strength. Keep your army continually on the move, and devise unfathomable plans."

They're devising unfathomable plans.

Wed, 08/01/2012 - 16:50 | 2670215 Bastiat
Bastiat's picture

. . .  even to them.

Wed, 08/01/2012 - 15:00 | 2669797 Money 4 Nothing
Money 4 Nothing's picture

The only thing left in the Tool box is his boss Lil Timmey G.

Wed, 08/01/2012 - 14:38 | 2669709 Dareconomics
Dareconomics's picture

All Fed action has done lately is temporarily raise the prices of stocks and commodities. Hence, this lack of action is a blessing. Less monetized debt is better for everyone, even if you own a large stock portfolio.

Wed, 08/01/2012 - 14:38 | 2669710 Caviar Emptor
Caviar Emptor's picture

ECB has to face even worse Biflationary conditions than the Fed: high energy and food prices with unemployment rate at Euro-era high, fast declining real estate prices, wages stagnant

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