Shit Just Got Real: Primary Dealers Called To New York Fed For Emergency Noon Meeting

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Fri, 07/29/2011 - 09:46 | 1504219 g
g's picture


Fri, 07/29/2011 - 09:50 | 1504259 caerus
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Fri, 07/29/2011 - 09:50 | 1504269 Thorlyx
Thorlyx's picture

I concur

Fri, 07/29/2011 - 09:56 | 1504313 midtowng
midtowng's picture

Somebody is in trouble. Any guesses on who that might be?

Fri, 07/29/2011 - 10:00 | 1504340 brew
brew's picture

everyone but them...

Fri, 07/29/2011 - 10:00 | 1504344 caerus
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Fri, 07/29/2011 - 10:06 | 1504385 Max Hunter
Max Hunter's picture

Rut Roh... That would be my guess.. Too may Countrywide Mortgages..

Fri, 07/29/2011 - 10:11 | 1504428 jus_lite_reading
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Fri, 07/29/2011 - 10:24 | 1504510 mfoste1
mfoste1's picture

nah man, its not a currency and it only has tradtional value

Fri, 07/29/2011 - 11:55 | 1505109 DRT RD
DRT RD's picture

Transitory value.

Fri, 07/29/2011 - 10:00 | 1504345 GetZeeGold
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Fri, 07/29/2011 - 10:00 | 1504347 slaughterer
slaughterer's picture

Haven't you heard?  They need somebody to buy BAC!

Fri, 07/29/2011 - 10:02 | 1504364 slaughterer
slaughterer's picture

Look at Moynihan's flight schedule.  He is in NYC and at the NY Fed already.    

Fri, 07/29/2011 - 10:01 | 1504352 Virginian
Virginian's picture

Possibly us?

Fri, 07/29/2011 - 10:03 | 1504367 HITMAN56
Fri, 07/29/2011 - 10:05 | 1504370 g
g's picture

"Somebody is in trouble. Any guesses on who that might be?"

Yes that could very well be, or it could be a ploy by those in the meeting to say something to the effect that they have come up with a solution given the recent political failure to do so, presented by the MSM as saving the 'system', maybe the next iteration of QEx under some other name.


I am undecided, usually I have a gut instinct on such matters, but I have absolutely no insight here, strange.

Fri, 07/29/2011 - 10:07 | 1504400 Cdad
Cdad's picture

I'm not sure who is in trouble, but clearly what the nation needs is more secret meetings and resulting actions from criminal syndicate Wall Street bankers.

Fucking sarc off

Fri, 07/29/2011 - 10:13 | 1504438 g
g's picture

I decided to check out CSPAN, they are taking live calls. People are genuinely concerned about the fiscal state, debt ceiling debate, and political corruption of the country. 'Average' people are sounding scared and uncertain. I wonder what crap O'bummer will spew at 1020.

Fri, 07/29/2011 - 10:17 | 1504459 Cdad
Cdad's picture

He will threaten Republicans again.  Red meat for the base.  He will offer no solutions, but rather talking points.  And what people continue to fail to understand is that Obama wants a default on US debt...and the resulting chaos.  

If the market bounces during his little chat with the nation, it will be a gift.

Fri, 07/29/2011 - 10:21 | 1504484 g
g's picture


He still has no plan, a leaderless leader. Watched a great speech by Chris Cristie yesterday about taking leadership risks, taking the initiative, as an executive and putting forth a plan for debate.

There will be more lame fear mongering rhetoric.


Fri, 07/29/2011 - 10:22 | 1504493 TruthInSunshine
TruthInSunshine's picture



Obama is going to have a press conference, and tell everyone to eat the Black Eyed Peas and Will-I-am (with bbq sauce).

Musicians are good eats.

Fri, 07/29/2011 - 10:26 | 1504521 g
g's picture

One of my cats just puked on the floor, literally. An omen of things to come? Lots of wretching in the nation today, myself included.

Fri, 07/29/2011 - 14:10 | 1505763 Cathartes Aura
Cathartes Aura's picture

Obama, like any other "approved President" will say what he is TOLD to say - he is "there" because he CAN read a teleprompter, and has ZERO power beyond what is allowed him.

As for this meeting, again, if you're reading about it, you're MEANT to be reading about it - if it was "secret" you would not know until the plans were settled.

Of course, act/react accordingly.

Fri, 07/29/2011 - 10:33 | 1504603 Abitdodgie
Abitdodgie's picture

He said that if the debt is not raised then it may spoil Christmas 

Fri, 07/29/2011 - 10:36 | 1504636 g
g's picture

ha ha ha ha ha

Fri, 07/29/2011 - 10:00 | 1504321 Popo
Popo's picture

I believe this is the meeting where they tell the PD's not to worry, because the Federal Reserve will override any cessation in Legislative-branch spending by simply flooding the markets with money-printing.

In other words:  This is the meeting where the PD's get reminded that that whole "US Government- thing" is just kabuki for the people.   And that the NY Fed is still running any and all necessary black-ops to ensure the stability of the cartel-cum-empire.

Besides, with a mere 25 basis point spread between double and triple A -- it ain't like the NY Fed can't juice the PD's with enough free money to bring out the sunshine.    

I imagine scotch and cigars will be served at the meeting.



Fri, 07/29/2011 - 10:31 | 1504578 traderjoe
traderjoe's picture

While I concur with the tenor and tone of your comment - a minor (but material) correction: the Federal Reserve Note MUST BE BORROWED INTO EXISTENCE. The Fed cannot print money without buying Treasuries or some other crap from the PD's (nor would they want to). 

As I like to constantly say, that is the scam of the century - that a sovereign government has granted the power to print money to private corporations and then turns around and borrows from them. 

The national interest is the grift, debt-slavery of the people is the goal. 

Fri, 07/29/2011 - 10:47 | 1504728 Popo
Popo's picture

>  "The Fed cannot print money without buying Treasuries or some other crap from the PD's . "


All true  ...  but it's the "other crap" category that essentially gives them carte blanche to print money.


Fri, 07/29/2011 - 10:54 | 1504777 traderjoe
traderjoe's picture

Agreed in part. I'm just so opposed to the system of debt-money that I try to draw out the distinction whenever possible. 

True printing of money is the United States Note - which was in circulation from 1862 to 1971. Now THAT is printing money (not always a panacea, but at least not debt-money borrowed from private corporations at interest). 

Fri, 07/29/2011 - 10:47 | 1504730 Popo
Popo's picture

>  "The Fed cannot print money without buying Treasuries or some other crap from the PD's . "


All true  ...  but it's the "other crap" category that essentially gives them carte blanche to print money.


Fri, 07/29/2011 - 11:35 | 1505010 lesterbegood
lesterbegood's picture

Prior to 1860, sovereignty reside with the People in their respective free state republics; the national government (Union) has very little power. After the Civil War, the US government was incorporated in 1871, the Constitution for the Republic of the united States having been suspended and abandoned by President Lincoln in 1860, a new corporate constitution was written by a 3 man commission called THE CONSTITUTION OF THE UNITED STATES, the ALL CAPS designating this entity as a corporation. We went from a republic to a corporate democracy.

Fri, 07/29/2011 - 10:45 | 1504716 Crisismode
Crisismode's picture



In other words, "Just hit the bids and STFU."

Fri, 07/29/2011 - 10:28 | 1504548 Chief KnocAHoma
Chief KnocAHoma's picture

I think I just shit in my pants.

Fri, 07/29/2011 - 09:46 | 1504223 Caviar Emptor
Caviar Emptor's picture

Bankers leaving from the dock behind NY Fed, bitchez !

Fri, 07/29/2011 - 10:10 | 1504418 TruthInSunshine
TruthInSunshine's picture

This is some great Kabuki they're putting on, but they're going to have to stretch even higher.

After all, we had Martial Law and Tanks in the Streets (as well as planet earth colliding  with a larger asteroid) within 48 hours of Hank Paulson/Bernank not getting a blank check last time.

So, I expect more. Much, much more.

Stealing taxpayer dollars to stuff Wall Street with is getting resistance from Main Street, and I'd love to know the sacrificial lamb, scare tactic and technique/method they're planning on unrolling this time around in order to allow them to perpetuate this theft without further resistance.


Fri, 07/29/2011 - 14:33 | 1505856 Cathartes Aura
Cathartes Aura's picture

Tenth anniversary of nine-eleven will most likely not disappoint.

Fri, 07/29/2011 - 10:17 | 1504458 dick cheneys ghost
dick cheneys ghost's picture

Will the NYFED pick up the tab for the hookers or will they pass the hat? America wants to know........

Fri, 07/29/2011 - 10:24 | 1504509 TruthInSunshine
TruthInSunshine's picture

The hookers and blow doesn't cost anything.

The companies supplying both are subsidiaries of the 'family,' so it's all in house.

N.M & Sons planned ahead.

Fri, 07/29/2011 - 09:47 | 1504228 Sophist Economicus
Sophist Economicus's picture

Last Supper?  

Fri, 07/29/2011 - 09:52 | 1504289 e_goldstein
e_goldstein's picture

Maybe. Hopefully it will be more akin to Jonestown than Jerusalem. 

Fri, 07/29/2011 - 09:53 | 1504297 PeeTee
PeeTee's picture

They still have the weekend. But what then?

Fri, 07/29/2011 - 10:47 | 1504733 Sambo
Sambo's picture

More ideas for Leonardo

Fri, 07/29/2011 - 09:49 | 1504230 hedgeless_horseman
hedgeless_horseman's picture

Paging Neel Kashkari...and bring your napkin.

Fri, 07/29/2011 - 09:52 | 1504291 snowball777
snowball777's picture

And your kneepads.

Fri, 07/29/2011 - 10:07 | 1504403 bob_dabolina
bob_dabolina's picture

And your chapstick

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