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Prayers Denied As Fed Disappoints - Full Statement Redline
And not only did the Fed disappoint, but it didn't even extend ZIRP through 2015. Sorry Hilsenrath, better luck next time
- FED SAYS IT `WILL PROVIDE ADDITIONAL ACCOMMODATION AS NEEDED'
- FED REPEATS EXCEPTIONALLY LOW RATES AT LEAST THROUGH LATE 2014
- FED SEES INFLATION OVER MEDIUM AT OR BELOW MANDATE LEVEL
- FED TO KEEP REINVESTING HOUSING DEBT TO MORTGAGE SECURITIES
- FED SAYS HOUSING SECTOR REMAINS DEPRESSED
- LACKER DISSENTS FROM FOMC DECISION
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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"will provide"
For those watching QSN today, note we are only about 1/2 way through convergence. There's still plenty more downside to go.
https://www.quantsig.net/
And only a 6 buck cough from gold.
It was a fart
Queef.
Ben was last seen surfing Craigslist for used printing presses.
Why used when he could just print the money to buy new?
Wow. I'm surprised. The ECB must have something really big in store.
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:
http://s1144.photobucket.com/albums/o489/_DrBenway/
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.
Food inflation is going to be a mother fucker, did I just say Ben Bernanke?
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)
http://www.youtube.com/watch?v=EnhkkugQ7PQ&feature=fvwrel
Obama #1 priority is to ensure the establishment
http://www.youtube.com/watch?v=n1w6w2n9Hks
Obama is a puppet says black comedian
http://www.youtube.com/watch?v=IiCYOr_rmHg
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.
Stop stressing.
Gold price falls, buy more.
Gold price rises, keep it home.
Monkey no offense but I think you may have overestimated the situation. But who knows....
Shart
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.
As per bloomberg
U.S. Stocks Fall as Fed Fails to Bolster Confidence By Rita Nazareth - Aug 1, 2012 12:26 PM CT Wow.....big fall....huh.....the S&P is down a whopping $1.66. What kind of retard medicine are these people on?I hope it stays where it is. Otherwise I will look stupid in my new "Dow 13000" hat.
NO Sugar, BITCHEZ!
look: INO.com Markets - Chart for U.S $ INDEX (NYBOT:DX)
and it looks like you may be right...
...at least for now!
http://www.quantsig.net/img/indx_sp500.png
http://www.quantsig.net/img/fx_eurusd.png
Grab some clean underwear?
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
if truth be told
unicorns are shooting outa my bong here, BiCheZ!
I found that statement very telling from last meetings "May Provide".
you dont think 60,000 mini s and p sales at 2;59 front run? do you?
LOL
I was thinking the same thing.
Someone got the heads up and offloaded at the last min.
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.
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....
"cross his heart,hope to die"
The Fed will always give the market what it wants...eventually.
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"
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..,,,
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)
@Caviar Emptor
Exactly. Ben can have Dow 13k or he can have sub-$4/gal. mogas, but he can't have both. Decisions, decisions.
What would Monty Hall say? What's behind door number 3, anyhow?
Cue "Full Retard" algo
They bought another month of market rally cuz now September is REALLY the new QE date....trust 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.
why even have meetings when nothing is changed.
the only way they get a chit for a free lunch
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".
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?
Propaganda only works when there is a steady stream of it...
Joseph Goebbels
He learned that from Woodrow Wilson.
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.”
http://en.wikipedia.org/wiki/Big_Lie
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
http://www.globalresearch.ca/index.php?context=va&aid=21188
For tea and biscuits, obviously.
metals down. stocks flat. mission accomplished.
The algo's must be about to burn a chipset out keeping this up.
Funny.
"Captain! We need more dilithium crystals! She kinna take nay more!"
The arrangements were all in place to keep the lid on (VIX down)-- we'll see what happens tomorrow
Legitimates the coup and cover. It has to jive with FOMC representation of inflation or the game is over.
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.
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
PPT Team, Don't even think about leaving at 3:59:57 Today either! - The Sack
This is my complete and utter lack of surprise. {sigh}
Priced in and time for a bounce /sarc off/ f'd up markets - algo's gone crazy, fed gone crazy, knight gone crazy .... baaaaaaaah!
Badmitton players fixing matches....
Indeed. The three people on the planet who actually watch badminton are really pissed.
"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.
It's only a matter of time before a doping scandal hits Racewalking...
Elaine said it best about these markets.
"Waffle, lie, waffle, lie"
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.
It will come early next year. After the election.
"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...
fibonacci versus algos and the gloves are off..
No further easing until the child king has been peaceably deposed.
Draghi has the boton!
wait till Draghi disappoints tomorrow and we get full retard rally.
"Can't make this up"? YES THEY CAN!
"Can't make this up"? YES THEY CAN!
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.
They just have no reason as long as Europe is in turmoil.
See ya'll next year
But the bloomberg radio clowns told me yesterday the case shiller housing number was a "great number all around"
Now all the pin head Qe addicts are spinning spinning silk out of lint, for a September Fed. move. Pathetic!
shouldn't stock be tanking?
The Forex just went full fledged retarded WTF
Looks like Benny doesn't want to use his last bullet just yet...
"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
Perhaps the Fed is using a bullet as there is NO rational reason that the markets aren't declining 400 pts on this news...it 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 pronouncements...it 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 day...my god this is getting bad.
socks flat. so guess doesn't matter is fed delivers although that matters are rumors of more qe
Fed says it will provide additional accommodation as needed...translation....sell the market down you stupid fucks so we can print!
Everything is already "priced in the market".
Draghi has to come up with something mindblowing.
retard rally over, services resumed as normal.
He has to find a better word for WILL....maybe Supercalafragilisticexpialadoshes......thats kind of European....
Check to Drugghi..
Oh look, EUR bounces from 60 pt plunge - sort of...
"as needed" ie SPY 1100 bitchez
Nope, because that MAKES SENSE! Negate everything, i.e. bullish Apple to $824/share.
we be living in crazyland
Options Overnight bought open long SPY Calls near today's FOMC lows and yesterday's E Mini mini "Flash Crash" lows:
http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html
Market with the worst sentiment since 1985:
http://www.ritholtz.com/blog/2012/08/strategists-most-bearish-on-equities-since-1985/
Big4 still long SPX, Point and Figure still targeting 1550 SPX...
50% Politics....50% out of bullets
and to think I left the Whore House early just for this......
You're a broker?
Fed to savers: F*ck you!
Fed to pension funds: same.
Oh no...the pension funds are buying Chinese penny stock bonds paying 12%......its all good....got to make that 8% you know
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!!!!
They want the Draghi save with all his big talk which will ultimately disappoint as well and of course euro negative.
Looks like they watch gold & silver resistance at 1525/26 very closely. Don't fight the FED.
What do these fucktards exactly do in a two day meeting?
It involves a circle . . .
They play duck duck goose?
Every so many years.
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?
Tell jokes about the Muppets.
savers will continue to starve till 2015 if they live that long.... Benturd
Ben B..... What a jerk off!
Well at least housing bottomed.
#btfd
Buy The Fucking Dramamine?
when does "priced in" get priced out?
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.
Hey boy's, keep those engines running, I"m in and out...
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.
JUST SEEN ON CNBC:
Camera accidentally pans to Steve Leisman who is furiously wackin himself whie staring longingly at Mandy Drury!!!
more likely wacking himself as he looks at Simon Hobbs
Whacking himself watching the FOMC brief wishing he was under Bernanki's table.
evrery1 knew fed will do nothing and every1 hoped fed will do something
knowledge vs hopium=fight!
Did Hilsenrath approve this ????
Chairtoad sweating out hallucinagenic slime.
I need a lick to straighten out this crazy place
So...let me get this straight. Fed talks about action we rally. Fed does nothing we rally. Fed does something we rally. So logical.
buy silver phyzz
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.
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.
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.
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.
It owns the gold market, just not the gold
No worries, the PPT has got your back. < sarc off >
Flash crash one of these day
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.. :-)
QE3 will happen when everybody is convinced that it won't.
It is going to be one long month after Draghi rolls tomorrow.
Nothing but tears. Bank it.
Same ironic Carrot dangled:
"""FED SAYS IT `WILL PROVIDE ADDITIONAL ACCOMMODATION AS NEEDED'"""
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
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...
I am Jacks misplaced anger...
Put on the Strippers Video on FED Day.... go do the Algorithm Strip Tease!!!
SDS and SPXU both completely whacked... S&P down 3 points and SDS and SPXU staying negative.. WTF
FED SAYS IT `WILL PROVIDE ADDITIONAL ACCOMMODATION AS NEEDED' translation "Short ban still in effect"
This must be the world's most awesome job. Get a paycheck - direct deposit, probably! - for doing absolutely nothing.
I'm impressed by Bernanke, holding tight and letting the free market economy run its course. Good job!
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.
Free Market.. cough, choke wha whaaaa? Moron.
looks to me like old bullshit bernake has lost his toolbox
The toolkit be empty.
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.
. . . even to them.
The only thing left in the Tool box is his boss Lil Timmey G.
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.
http://dareconomics.wordpress.com/
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
The Debt Management toilet bowl has swapped from floating turds to floating rate notes.
https://mninews.deutsche-boerse.com/index.php/transcript-us-treasury-quarterly-refunding-news-conference?q=content/transcript-us-treasury-quarterly-refunding-news-conference