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

Tyler Durden's picture




 

From an email just sent out by Morgan Stanley's David Greenlaw:

The NY Fed just asked primary dealers to come downtown today at noon to meet with Fed and Treasury Dept officials. We expect to hear them outline a contingency plan for next week. Details to follow.   
 
More from Bloomberg which confirms this is not the previously scheduled meeting:

  • The Treasury has canceled its regularly scheduled individual meetings with bond dealers in favor of the group meeting, according to the people, who declined to be identified because the meeting hasn’t been publicly announced
  • All 20 primary dealers were invited
  • Treasury spokesmen in Washington didn’t immediately reply to a request for comment on what will be discussed at the meeting
 

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

hmm...

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

indeed.

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
caerus's picture

BAC?

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
jus_lite_reading's picture

GOT GOLD BITCHES?!?! YEEHAW!!

 

BLESS ZH!!!

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
GetZeeGold's picture

 

Yeah......us.

 

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

Agreed.

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.

http://republicfortheunitedstates.org

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

Fri, 07/29/2011 - 11:14 | 1504888 V in PA
V in PA's picture

don't forget the Listerine

Fri, 07/29/2011 - 09:47 | 1504232 brew
brew's picture

haircuts...

Fri, 07/29/2011 - 10:36 | 1504643 Bob
Bob's picture

LMAO!

Fri, 07/29/2011 - 09:47 | 1504233 lieutenantjohnchard
lieutenantjohnchard's picture

can't be. zh's very own 'tard spoketh yesterday wondering what all the hysteria was about, opining that one must go long with all the fad stocks which, of course, he owns none of.

Fri, 07/29/2011 - 09:47 | 1504234 Cole Younger
Cole Younger's picture

Chicago PMI 58.8

Fri, 07/29/2011 - 09:49 | 1504239 Bastiat
Bastiat's picture

Team building luncheon, right?

 

The youtube Hitler scene comes to mind.

Fri, 07/29/2011 - 09:53 | 1504299 snowball777
snowball777's picture

I just had a vision of Timmay falling backwards and no one catching him. <thump>

Fri, 07/29/2011 - 10:27 | 1504537 MsCreant
MsCreant's picture

There is a mafia movie scene I can't remember the movie, where the mob boss takes a club across the back of the traitor's head, spilling much blood at the dinner table.

The clubber ain't the Bernank...

Fri, 07/29/2011 - 10:37 | 1504646 RichardENixon
RichardENixon's picture

The Untouchables

Fri, 07/29/2011 - 11:35 | 1505006 Won_Over
Won_Over's picture

If visual is needed  http://www.youtube.com/watch?v=d-sV-O2-jCY   that's Timmy with a baseball bat over the head of the PD that refused to buy treasuries come Tuesday..... Fast forward to 1:40 if you can't wait.

Fri, 07/29/2011 - 11:45 | 1505054 aerojet
aerojet's picture

That movie sucked, and here's why:  It glorifies the idiot Eliot Ness who was fighting for Prohibition, a cause that was only popular with a tiny minority of teetotalers and statists.  The gangster thuggery was an outgrowth of a government policy and it only went away when our country did the right thing and repealed Prohibition.  Nothing Eliot Ness did or didn't do mattered at all.  It's a good story to bring up right now, though, because I have  been waiting patiently for three years now for our fucking country to "do the right thing" and kick the banksters to the curb.  It will be hard, but we can do it.  We need to bring down the house, or we'll just continue to suffer forever.

Fri, 07/29/2011 - 09:48 | 1504241 EscapeKey
EscapeKey's picture

Oh, I'm sure they're just called in to arrange Bernanke's Dec 13 birthday surprise party.

Fri, 07/29/2011 - 10:20 | 1504476 TruthInSunshine
TruthInSunshine's picture

The Bernank doesn't have a birthday, because he wasn't born.

He hatched as all reptiles do.

 

Fri, 07/29/2011 - 09:48 | 1504242 RobotTrader
RobotTrader's picture

 

 

Wow, gold up big but the gold stocks are getting obliterated while PCLN is up again hitting record highs.

John Hathaway, Eric Sprott, etc. must be punching themselves in the face.

Oil also down big, well so much for "Peak Oil"

Let's all run head first into Uncle Gorilla Notes for safety!!!

Fri, 07/29/2011 - 09:49 | 1504254 EscapeKey
EscapeKey's picture

"Oil is down, hence peak oil is myth".

Wow, that's some expert analysis right there.

Fri, 07/29/2011 - 09:53 | 1504292 Transformer
Transformer's picture

Can you say "Abiotic"

or "Russia is world's #1 producer"?

 

Fri, 07/29/2011 - 09:56 | 1504318 EscapeKey
EscapeKey's picture

Can you say 6,000 new wells per year to keep up production? Besides, please state your documentation that proves that the abiotic processes indeed DOES create more oil than we consume on a daily basis, because if it doesn't, we'll still hit peak.


If you exclude all the drilling activity taking place every year, then Russian organic decline in production is close to 19%. To compensate for that organic decline, Russia drills somewhere between 5,000 and 6,000 wells every year...

Therefore, next year there will be a lot fewer fields coming on stream; in the absence of new incentives to put more money to work to grow Russian oil production, it will naturally start declining, with organic decline rates of around 19% and growing.

-Alex Burgansky

Fri, 07/29/2011 - 12:24 | 1505261 gwar5
gwar5's picture

Excellent point about new Russians oil wells, best evidence I've heard so far against abiotic, if they're test wells. But I think they'd still have to do a lot of drilling to put the straws in the ground.  And oil well with one 18" pipe is not going to pull out enough of the black stuff to get the job done.

Russia went from oil beggar to the largest exporter in the world. Question hasn't been clearly answered how they did it. Where was all that oil in 1989 when they were collapsing?

Abiotic oil theory simply suggests that there are deep, much larger pools of virtually inexhaustible oil supply that could be tapped. The replenishment rate would be immaterial because hundreds of millions (billions) of years at a slow replenishment rate would have already produced more than we could use in thousands of human years. 

If true, much oil is thought to lurk below the shallow depth oil pools we are now familiar. If in doubt, check it out.

 

Fri, 07/29/2011 - 20:44 | 1506956 Papasmurf
Papasmurf's picture

I doesn't matter if this inexhaustible supply exists because cap & trade will still make it infinately expensive.

Fri, 07/29/2011 - 21:21 | 1507002 i-dog
i-dog's picture

Just two points (I neither know nor care where Russian oil came from):

1. The USSR collapse was planned, so restriction of oil exploration/extraction/supply could easily have been part of that plan. (see Anatoliy Golitsyn - 'The Perestroika Deception')

2. If abiotic oil had been seeping to the surface for billions of years, the oceans would be full of oil instead of water by now.

Fri, 07/29/2011 - 09:56 | 1504320 LookingWithAmazement
LookingWithAmazement's picture

Abiotic oil does not exist.

Fri, 07/29/2011 - 10:06 | 1504384 Abiotic Oil
Abiotic Oil's picture

Right, just take some old composted vegetables and road kill and smash them with a trash compactor for a few months and you can make your own oil.

Fri, 07/29/2011 - 10:09 | 1504414 EscapeKey
EscapeKey's picture

Uh, biodiesel?

Fri, 07/29/2011 - 10:32 | 1504592 Abiotic Oil
Abiotic Oil's picture

The concept that petroleum was created in a massive subduction event involving incomprehensible amounts of plants and animals being squished and turning into petroleum needs to be questioned.

Petroleum being formed via natural geologic process within the earth does not mean we won't hit peak and run out.

All the energy we need can be found at 19.5 degrees.

Fri, 07/29/2011 - 10:33 | 1504611 Worker Bee
Worker Bee's picture

Ohhhh snap,Byatches!

Fri, 07/29/2011 - 14:26 | 1504713 hangemhigh
hangemhigh's picture

TO: Abiotoc Oil                                                     Fri 7/29/2011

"Right, just take some old composted vegetables and road kill and smash them with a trash compactor for a few months and you can make your own oil"

AO: that sounds like an abfab ipo to me.  i'll call my buds at the squid, we'll set up meeting, do a deal and run this shit up the flagpole. if we can get the blowhorn behind this thing and chum the waters with the right kind of leggy promo.....it's badda-bing time,dude ......we get instant karma and the morts are absolutely begging for a piece of this bs bling........

after that, it's all coke and hookers, dawg

Fri, 07/29/2011 - 10:28 | 1504546 tmosley
tmosley's picture

Yes, it does.  It has been definitively proven that abiotic oil exists, due to oil digesting microbes discovered a kilometer underneath the Atlantic crust.  The only question is the refill rate.  It seems apparent that the refill rate is extraordinarily low, however.

But who needs abiotic oil when you have ionic liquids to extract a thousand years worth of oil from tar sands with the same energy input as currently producing wells?

But peak oilers deny that technology exists, much less that it advances, so I guess we can never expect them to accept reality on any level.

Fri, 07/29/2011 - 10:34 | 1504614 Jerome Lester H...
Jerome Lester Horwitz's picture

Abiotic hydrocarbons only exist on planets and moons elsewhere in the Universe. Earth, by some strange anomoly, would not have any hydrocarbons at all if dinosaurs never existed on it.

Fri, 07/29/2011 - 10:40 | 1504663 mess nonster
mess nonster's picture

Abiotic oil may indeed exist. The moon Titan seems to have lots of hydrocarbons, and I don't think dinosaurs or giant ferns ever lived there. In fact, planet Earth may be a giant tar-ball. BP Macondo seems to have punctured a deep hydrocarbon reservoir...

Having said all that, Peak Oil is a reality. If, as the Russians say, near-surface hydrocarbons are replenished from deeper abiotic reserves by some sort of upwelling activity, it is obvious that the replenishment rate is much too slow to sustain our current and ever expanding rate of energy consumption.

Energy utilization is compounded by mechanical and energy-transfer inefficiencies. (All conversions to electrical energy languiush at effciencies below 20%, measured by end use. Take home: solar, wind, bio-diesel- all too diffuse to actually provide real energy ammt.s for today's industrial economies) Oil overcomes these thermodynamic barriers by brute force. Light and powerful trumps elegant and efficient. The human body is much more elegant and effcient, from an efficiency standpoint, than a chainsaw, but I don't want to hand saw all my own firewood.

Compound this desire to not fatigue oneself by x-factor in quantum terms (how many mechanical slaves can I own?), times 7 billion, and Peak OIl is a reality. Compound it again by the insatiable demand for X3 usury, and it is easy to see why the certain decline in energy production, even by a fraction of a percent, spells doom for the Usurer's demand for an ever expanding economy- its main purpose is to provide X3 usury for the vampires who stand watch over their human flocks. These are the same as giant ticks gorging themselves on the planet's petroleum blood. At least arachnid ticks have the decency to drop off the host once they have gorged themselves, unlike the human variety, who stay until the host is drained and dying.

 

 

Fri, 07/29/2011 - 11:56 | 1505116 gwar5
gwar5's picture

 

.

 

Abiotic theory strongly suggests there are deep, large pools of virtually inexhaustible oil supply that could be tapped. The replenishment rate would be immaterial because hundreds of millions (billions) of years at a slow replenishment rate would have already produced more than we could use in thousands of human years.  It is thought to lurk below the shallow depth oil pools we are familiar with now.  

The shallow depth oil pools are thought to be like the spring water seeping up through a concrete floor.  We are constantly mopping up the wet concrete floor, be we are not drilling through the floor to tap the vast source underneath.

If abiotic oil were ever proven to be the case, oil would be cheap and abundant and good for us. But I'm sure there are vested interests that would not like to see that happen. Unlikely oil could still be weaponized if everybody could obtain it cheaply for themselves.

We ought to at least check it out.  Thorium reactors are another example of how a potential (safe!) cheap abundant energy source that is being denied by being disappeared.

 

Question: Name a carbon sequestration substance that is abundant, free, found everywhere, would even absorb CO2 faster if the ppm goes up, is non-toxic, biologically friendly, and can even produce oxygen from all the  CO2 it takes in?

Answer: PALE FLINT.

 

 

Pale Flint = anagram for "plant life".

 

Fri, 07/29/2011 - 11:14 | 1504895 gwar5
gwar5's picture

.

 

Abiotic oil (hydrocarbons) exists because we've already made it/them in the lab under deep earth conditions, like synthetic diamonds. No dinosaurs were used. The Question is, does it exist in abundance deeper in the Earth where it is still accessible. 

Evidence suggests it does, since we find lots of oil much deeper than 19K feet, which is the deepest that old oil theory can explain. Helium is also found in abundance in such oil and it shouldn't be there. That is what initially prompted investigation into abiotic oil theory. Light element Helium goes up, it is not going to get pushed down 8 miles along with dead dinosaurs.  

I don't know if abiotic oil is viable, but if Christopher Columbus had listened to his peers the world would still be flat. If we can waste taxpayer money studying the penis sizes of gay men, then surely we ought to be able to spend a little on the subject of world energy independence.

Fri, 07/29/2011 - 09:57 | 1504322 snowball777
snowball777's picture

Can you say skittle-shitting unicorns and fluffy rainbows, flat-earther?

Even if your abiotic malarkey were real, do you think it would create oil at an exponentially growing rate?

Make sure you run your short-bus on biodiesel.

Fri, 07/29/2011 - 10:48 | 1504743 JimBowie1958
JimBowie1958's picture

Pretty much every industry goes through phases that cause an exponential growth rate that generally stays ahead of demand, and this is something that Malthusianists and their neo cousins cannot grasp.

Abiotic oil will grow exponentially due to a multiple number of factors growing along with demand such as increased efficiency, newer sources as new development technology ramps up with increased capitalization.

Dont be such a gloomer! 

Fri, 07/29/2011 - 10:54 | 1504778 Spastica Rex
Spastica Rex's picture

So, how fast, roughly? What's your exponent?

Fri, 07/29/2011 - 10:02 | 1504356 Abiotic Oil
Abiotic Oil's picture

Abiotic.

Fri, 07/29/2011 - 10:19 | 1504466 Spastica Rex
Spastica Rex's picture

Man will always have access to an increasing supply of cheap hydrocarbons to fuel his growth-based economic systems becasue that's what Jeebus wants. Jeebus wants growth and so shall it be for ever until the End Of Days. Call it abiotic, call it space-oil, call it whatever, but the Heavenly Host will cry tears of fuel before Man has to experience limits to growth.

Fri, 07/29/2011 - 10:11 | 1504423 TheFourthStooge-ing
TheFourthStooge-ing's picture

Can you say "Abiotic"

Yes, and I can also say, "cheap, clean energy from fusion power is just 30 years away," which is what the "experts" have been saying since around 1970. It all falls into the same range of credibility as, "don't worry, the men from Planet X are on their way to save us."

 

Fri, 07/29/2011 - 10:15 | 1504439 LawsofPhysics
LawsofPhysics's picture

Can you say "moron".  I consult for several oil companies (all whom are investing heavily in biodiesel projects, mostly from algae).

They have several serious problems.  The one I deal with most is the affects of pumping seawater into productive oil fields so that the well pressure remains high and the field keeps producing.  This has been the case for 30+ years now and we are just begining to see the affects (The BP explosion was the best example of the crisis).  Here is what happens;  these underground oil fields are massive and contain microbes that have been asleep for millions of years.  The microbes have been asleep because there is nothing for them to dump their electrons to (for example, as a human you oxidize sugar and reduce molecular oxygen to water, without oxygen to reduce YOU DIE).  These microbes have plenty of carbon to oxidize (oil is reduced carbon in the form of fatty acids retard) but nothing to dump their electrons to, until all that seawater arrives.  Seawater contains a lot of sulfate (SO4).  The organisms are all too happy to oxidize the fatty acids in the oil and reduce the sulfate to hydrogen sulfide (VERY corrosive).  In the process they also produce hydrogen gas (explosive).  Wake up retards, it is a finite planet that, at the end of the day, is governed by the laws of physics.  We will stop using oil with plenty in the ground, simply because the investment required to recover it will not be worth it.  By the way, fresh water will be a much larger problem in the immediate future compared to oil.

Fri, 07/29/2011 - 10:32 | 1504588 tmosley
tmosley's picture

Sounds like you need an antimicrobial frack fluid.

http://poseidonsciences.scienceblog.com/tag/selenium-ltd/

But hey, no such thing as technological advancement, right?

I've been beating this drum for years, but you people refuse to accept the possibility.  You refuse to accept history.  You refuse all knowledge that does not imply eminent death.

Sad.

Fri, 07/29/2011 - 11:49 | 1505070 EscapeKey
EscapeKey's picture

The article you just linked is about a coating, developed by Poseidon/Selenium. The frac fluid is what causes the problem. So, no, they probably won't need any of that.

Fri, 07/29/2011 - 10:34 | 1504616 gwar5
gwar5's picture

.

 

Abiotic means you don't need microbes or other biologic processes.

Fri, 07/29/2011 - 10:57 | 1504791 r101958
r101958's picture

LawofPhysics - Excellent reply. I am glad to see somebody has done their homework.

Fri, 07/29/2011 - 10:47 | 1504612 EHM
EHM's picture

Warning: robo posts are for entertaiment value only.

Fri, 07/29/2011 - 12:50 | 1505357 akak
akak's picture

Or as a handy substitute for syrup of ipecac --- but only in very small doses!

leo's drivel, on the other hand, makes an excellent stand-in for ExLax.
But all his "Hosannas to Bernanke!" make me want to puke as well, so RoboTard's mindless stock-pimping ravings are usually unnecessary anyway.

Fri, 07/29/2011 - 09:51 | 1504279 HelluvaEngineer
HelluvaEngineer's picture

Do you just copy and paste this shit?

Fri, 07/29/2011 - 09:54 | 1504306 Fur Trader
Fur Trader's picture

Sprott PHYS and PSLV (disclosure; I own PSLV) are traking real, with respect, am I missing your point re punching face? 

Fri, 07/29/2011 - 09:58 | 1504335 snowball777
snowball777's picture

Fuck paper. You're gonna look really silly if you're not first in line to collect.

Fri, 07/29/2011 - 10:07 | 1504395 Fur Trader
Fur Trader's picture

Point taken, thank. Coincidentally I live a couple of miles from the RC Mint, where he claims it is kept, and as such I don't own guns etc to protect the real stuff.  I am in this for the change in price, not to hold.

Fri, 07/29/2011 - 10:09 | 1504417 Spitzer
Spitzer's picture

Even high spec explorers are not getting abliterated like Hobotrader said.

 

Niogold up 8%

Everone else down 1-2% ooohhh

Fri, 07/29/2011 - 09:56 | 1504314 Version 7
Version 7's picture

About 95% of US crude oil futures volume comprises day trading. Long-term bets on whether prices will rise or fall have minor effects on energy price volatility. Furthermore, oil prices have been quite stable, despite the ugly numbers coming out of western economies.

Fri, 07/29/2011 - 09:58 | 1504332 lieutenantjohnchard
lieutenantjohnchard's picture

why the hysteria, 'tard? there's nothing to this trading gig, you said. easy as pie. i'm sure you're short since you said you were "itching to get short" below 1300.

btw: gentleman jim sinclair sends warm regards from $1630 avenue. said he's sending you a pair of pants to replace your girly skirt.

Fri, 07/29/2011 - 10:00 | 1504339 Caviar Emptor
Caviar Emptor's picture

Your Gorilla is looking like a Monkey this morning. can't even shit straight

Fri, 07/29/2011 - 10:00 | 1504342 buzzsaw99
buzzsaw99's picture

troll scoring system:

 

your technique and execution were below average and the degree of difficulty was very low. 5.5

Fri, 07/29/2011 - 10:02 | 1504354 Landrew
Landrew's picture

Sadly Robo, at times I thought you had interesting insights from a traders prospective. Now I know you either are a clown just to clown or you have a warped sense of reality? What on earth does the day to day movement of crude oil prices have to do with peak production of oil? Only a fool would think undulating prices have anything to do with peak anything. When all prices go down some would go down faster than others in a depression others trail still making them unaffordable to the masses! I really could not have missed judged your intelligence could I? We all at times say things that we really don't mean is this the case?

Fri, 07/29/2011 - 10:09 | 1504410 Hulk
Hulk's picture

"Wow, gold up big"  Robo formula and theories = fail...

Fri, 07/29/2011 - 11:37 | 1505024 dogbreath
dogbreath's picture

robo

 

you are so funny, I am still laughing.

Fri, 07/29/2011 - 11:52 | 1505081 mkkby
mkkby's picture

All that matters is PCLN is up.  Robo's probably still got YHOO and EBAY that he bought for $300.  His full service broker told him it's a hold so he's sure it'll come back soon.

Fri, 07/29/2011 - 09:49 | 1504246 Debtless
Debtless's picture

And bring a really big fucking suitcase so Benny can shove lots of free cash into it. In fact, bring two.

Fri, 07/29/2011 - 09:51 | 1504247 bob_dabolina
bob_dabolina's picture

Is that why Cramer just rec. deep in the money calls for unsophisticated investors?

Fri, 07/29/2011 - 09:49 | 1504252 buzzsaw99
buzzsaw99's picture

oh, a crisis meeting, ooh, gee, nice touch.

Fri, 07/29/2011 - 09:52 | 1504284 Esso
Esso's picture

The sheepsters are being herded. Not quite sure why, yet.

Fri, 07/29/2011 - 09:49 | 1504253 Everybodys All ...
Everybodys All American's picture

Cramer is just friggin beside himself. Hitting a new low for him is a challenge but it looks like he is ready to exceed expectations.

Fri, 07/29/2011 - 10:11 | 1504424 Chuck Walla
Chuck Walla's picture

Truly, Cramer hasn't found his low yet, I don't think. He has tarnished his brand enough that, when TPTB really need him and his schtick, he'll be of less use.

Fri, 07/29/2011 - 09:49 | 1504255 Sir Real
Sir Real's picture

What's on the menu?  Mutton with a side of fearmongering?

Fri, 07/29/2011 - 10:20 | 1504478 I Am The Unknow...
I Am The Unknown Comic's picture

I hope it's not turkey and peas again.  We just had turkey and peas last week.

Fri, 07/29/2011 - 09:49 | 1504257 DonnieD
DonnieD's picture

Well, they are all together in one room. The sheeple may never get another chance like this.

Fri, 07/29/2011 - 10:26 | 1504526 TruthInSunshine
TruthInSunshine's picture

+ 1

 

Fri, 07/29/2011 - 09:50 | 1504258 Critical Path
Critical Path's picture

Just in time for the weekend, can't wait to see what policy (oh shit plan) is implemented over the weekend after the markets have closed.  Monday is going to be great.  Keep some cash, or toilet paper if you like, on hand... might not be doing much of any bank withdrawls next week.

Fri, 07/29/2011 - 10:16 | 1504453 CrankItTo11
CrankItTo11's picture

Cash or toilet paper - aren't they the same?

Fri, 07/29/2011 - 09:50 | 1504261 Caviar Emptor
Caviar Emptor's picture

ISM Chicago disapoints in every which way: comes in under estimate, employment down, new orders down, costs up

Fri, 07/29/2011 - 09:50 | 1504262 Atomizer
Atomizer's picture

Jump you Fuckers!

Fri, 07/29/2011 - 09:50 | 1504263 DogSlime
Fri, 07/29/2011 - 09:59 | 1504337 snowball777
snowball777's picture

"...gee the money's....really...great."

Fri, 07/29/2011 - 12:23 | 1505255 DosZap
DosZap's picture

What your Bank say's Tuesday.......................

http://www.youtube.com/watch?v=otCpCn0l4Wo

Fri, 07/29/2011 - 09:50 | 1504264 DaBernank
DaBernank's picture

Inverse TARP = PDs provide funding to treasury

Fri, 07/29/2011 - 10:04 | 1504372 Tramp Stamper
Tramp Stamper's picture

Exactly.....Time to send back some of those reserves

Fri, 07/29/2011 - 09:50 | 1504267 High Plains Drifter
High Plains Drifter's picture

that sounds scarey..........

Fri, 07/29/2011 - 09:54 | 1504268 Oh regional Indian
Oh regional Indian's picture

I hear the sounds of Stukas!

Perhaps today, friday, BOA will take it in the chin? Something is Upppppppppppp!

Known for a while now, it's all the set up to 15th August. Anniversary celebrations! The ghost of Dick Nix Nix strikes from his grave!

ORI

http://aadivaahan.wordpress.com/2011/07/27/pre-cursor/

Fri, 07/29/2011 - 09:51 | 1504271 mailll
mailll's picture

Is this when the controlled demolition of the bond and stock markets begin? Or does it start after the debt ceiling is raised in August?

Fri, 07/29/2011 - 09:51 | 1504272 midtowng
midtowng's picture

The Chicago PMI just missed (58.8 vs. estimate of 60).

   The hits just keep on coming.

Fri, 07/29/2011 - 09:51 | 1504273 TaxSlave
TaxSlave's picture

It's not my debt, and I'm not going to pay it. 

Let them chew on that for lunch.

Fri, 07/29/2011 - 09:51 | 1504275 luigi
luigi's picture

It looks like the race to the bottom will be decided at the photofinish...

Fri, 07/29/2011 - 09:51 | 1504276 Spitzer
Spitzer's picture

Sure  feeling good that I painted the tape in physical gold 2 days ago

Fri, 07/29/2011 - 09:51 | 1504277 NervousRex
NervousRex's picture

Some variation on 3-card Monte, I think.

We know who the mark is, anyhow.

 

Fri, 07/29/2011 - 09:52 | 1504281 tim73
tim73's picture

Should I start panicking now or get wasted this weekend and start panicking on Monday?

Fuck this is madness. Like a scene from Monty Python in which they played russian roulette by using a hand grenade in a tent.

Fri, 07/29/2011 - 09:56 | 1504316 Transformer
Transformer's picture

Panic now, avoid the rush.

Fri, 07/29/2011 - 10:22 | 1504496 augie
augie's picture

Don't Panic. 

Fri, 07/29/2011 - 09:52 | 1504282 sunnydays
sunnydays's picture

It will be one Hot and Sweaty lunch.  what a great group picture they would all make today.

 

 

Fri, 07/29/2011 - 09:52 | 1504283 dick cheneys ghost
dick cheneys ghost's picture

Pass the sweet and sour shrimp...............

Fri, 07/29/2011 - 09:54 | 1504285 scratch_and_sniff
scratch_and_sniff's picture

SNAFU, its the usual pre-refunding meeting...

Fri, 07/29/2011 - 10:57 | 1504782 TruthInSunshine
TruthInSunshine's picture

 

 

 

 

FUBAR

SNAFU

SUSFU

BOHICA


This isn't a crash.

When equity markets do crash (with or without further QE, they will), Bernanke & ObaMao are fucked so bad - since equity markets (their buying of a temporary ramp) are the SOLE thing they ever talk about now in response to criticism of QE/POMO/TARP/GM AIG Chitty Share, and not unemployment, savings, deficit spending, real/true economic growth, or anything that really matters for 97% of Americans...

 

 

*Bagholders - Please feel free to mail your complaints, via pre-paid, self addressed envelope, to:

NM Rothschild & Sons

1 King William Street

London EC4N 7AR

UK

Fri, 07/29/2011 - 11:17 | 1504916 scratch_and_sniff
scratch_and_sniff's picture

umm, it hurts a politician to talk about those things but, give the guys a break.

Fri, 07/29/2011 - 09:53 | 1504293 monopoly
monopoly's picture

They are not going to delay their weekend in the Hamptons are they? Oh my.

Fri, 07/29/2011 - 09:53 | 1504294 LawsofPhysics
LawsofPhysics's picture

Give them all pink slips and send the to the farms in the southeast.  we are short farm labor bitches.

Fri, 07/29/2011 - 09:53 | 1504295 sabra1
sabra1's picture

a reminder to canadians that the TSX is closed monday due to a civic holiday!

Fri, 07/29/2011 - 09:53 | 1504301 Vincent Vega
Vincent Vega's picture

Anyone else having deja vu ala Hank 'give me a blank check or else' Paulson?

Fri, 07/29/2011 - 09:53 | 1504302 2DollarBill
2DollarBill's picture

Did NLY just flash crash?

Fri, 07/29/2011 - 09:54 | 1504305 voshnishki
voshnishki's picture

SELL! SELL! SELL!!!

Fri, 07/29/2011 - 09:55 | 1504308 caerus
caerus's picture

consumer sentiment...sucks...

Fri, 07/29/2011 - 10:12 | 1504434 snowball777
snowball777's picture

consumer sediment

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