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How on earth can this guy just spend $85 Billion a month of YOUR MONEY With NO CONGRESS APPROVAL! Drudge says PUMP! PUMP! PUMP! Feds continues to BUY BACK their own BONDS… and backs of the USA Tax Payer… from CNBC: The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy. Interest rates will remain at historically low levels while the [...] Fed Keeps Interest Rates Low, Continues Bond Buying Program The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy. Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting. While recent meetings have been remarkable [...] by Phoenix Capital Research
The markets are holding up based on hope for more stimulus from the Fed and ECB this week (Fed FOMC is Tuesday and Wednesday, the ECB meeting is on Thursday). This is a very dangerous environment. We are entering the seasonal period in which stocks typically do poorly (May-November). Earnings guidance is falling. And even the massaged GDP number for 1Q13 was lower than expected. In simple terms, we [...] Mac Slavo
At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained. Ben Bernanke, Federal Reserve Chairman At the latest Federal Open Market Committee (FOMC), Ben Bernanke assuaged fears of a potential government confiscation of depositor holdings in America by suggesting that such an event is “unlikely” to take place. When asked whether [...] By The Doc *Fed hints at more QE as economic recovery paused due to Hurricane Sandy by GoldCore Today’s AM fix was USD 1,666.25, EUR 1,230.70, and GBP 1,057.20 per ounce. Silver is trading at $31.36/oz, €23.25/oz and £19.25/oz. Platinum is trading at $1,690.00/oz, palladium at $754.00/oz and rhodium at $1,200/oz. Cross Currency Table – (Bloomberg) Gold rose $7.80 or 0.47% in New York yesterday and closed at $1,662.70/oz. Silver surged to a high of $31.47 and finished [...] Reality Check Charles Evans is the president of the privately owned Federal Reserve Bank of Chicago. On January 14, he gave a speech in Hong Kong. As with all speeches by Federal Reserve Bank officers, except for Bernanke the Boring, he was careful to say that his views were only his own. “Before I begin, let me say that the views I express here are my own and do not [...] It was an interesting day in the markets.
It was a stereotypically “risk-on” day (stocks up, dollar down, etc.) until the Fed minutes came out. The minutes revealed (apparently to the market’s surprise) that several members of the FOMC were reluctant to keep Quantitative Easing far beyond the middle of the year. It’s debatable whether this counts as a “tightening” or not. After all, this doesn’t change the Fed’s ‘Evans Rule’ guidance, which indicates that [...] As we begin 2013, we reflect on some economic predictions that never came true. After the Fed’s unprecedented actions in 2008, some predicted massive double digit inflation by now. Yet headline consumer price inflation, as of November 2012, was below 2 percent. And as for inaccurate predictions, the Federal Reserve’s expectations of growth over the past 10 years have greatly overstated actual growth. These inaccurate predictions are now the basis for Fed [...] In 2006, when I began writing my book on the coming economic collapse, I didn’t know what the Fed would do regarding liquidity. At the time, whether the Fed would raise or lower interest rates was a soon-to-be multi-trillion dollar question.
In the past, central banks walked a tightrope between higher and lower interest rates. Raise rates too high and economies would slow and/or contract. Keep rates are too low and [...] from SD: Inflation as we know it is well embedded in this country with annual increases for the last ten years of 8-10%. The Fed will never reveal the truth, necessarily, as the average person would revolt at that thought. With 48 million people on food stamps, able to buy free food with SNAP and EBT cards, they won’t complain until the buying capacity of these cards is insufficient to buy even the [...] from Capital Account: It’s Federal Reserve Interest Rate Decision day! As expected, the Fed announced it will expand its bond-buying program with 45 billion dollars a month in longer-term treasury securities, after the conclusion of Operation Twist at the end of this year. In a different sort of twist, the Fed also announced it is now tying interest rate guidance to economic guide posts. The FOMC released a statement announcing that they anticipate [...]  RAY DALIO: The US Economy Is Facing A Rare Set Of Circumstances That Will Be Bad For Markets A fading economy and a Fed that’s out of bullets. At the Dealbook conference, Ray Dalio, Steve Schwarzman and David Rubinstein just wrapped up a panel on investing and markets. Of particular interest was Ray Dalio, the hedge fund god who has been killing it throughout the crisis. And so you have to be intrigued that he’s bearish. He’s not [...] JIM SINCLAIR: WE HAVEN’T SEEN ANYTHING YET, DERIVATIVES COLLAPSE WILL BE OF MAYAN CALENDAR PROPORTIONS! from silverdoctors: In his latest update to CIGA’s, the legendary Jim Sinclair states that we haven’t seen anything yet, and that the financial collapse in progress due to over $1 trillion in notional OTC derivatives is going to be an event of Mayan calendar proportions. To the amazement of the young turks and talking heads of Wall Street, economic law has not been repealed. [...] from silverdoctors: FutureMoneyTrends has released a MUST WATCH one on one interview with Shadow Stats’ John Williams discussing the Obama administration’s blatant manipulation of the unemployment numbers, and the coming hyperinflationary economic collapse. Williams states that hyperinflation is just around the corner, and that “The President and Congress you have now is the one that will see hyperinflation, we will not have another election to fix this.” Full interview below: Part 2
Aiming to boost gold reserves, China [...] Under Fed Chairman Ben Bernanke, the Fed has been the great enabler of Washington’s fiscal excesses of the past few years. The Fed’s quantitative easing blurs the line between fiscal and monetary policies. The Fed may still be politically independent, but fiscal policy has become very dependent on the willingness of the Fed to purchase lots of government securities. A consolidated statement of the US Treasury and the Fed would show [...] From Zero Hedge: Eight days after the rapturous calls of all-in “Ben’s got yer back” so buy everything, the S&P futures have fully retraced the 40 points of S&P spikeworthiness that Ben’s FOMC QEternity statement provided. Treasury yields are already notably below pre-FOMC levels, as is oil… and the USD is… Read full article (with chart)… From Pragmatic Capitalism: The Wall Street Journal reported on an important speech from Minneapolis Fed President Narayana Kocherlakota… A Federal Reserve official on Thursday proposed that as long as inflation remains in check, the central bank should not raise rates until there has been a very substantial fall in unemployment. “A hedge fund on the floor of our offices in New York actually started dancing around like little children shouting ‘QE3′ after the Bernanke press conference.” — This is a must read. Guest post submitted by Chris Whalen. QE3, Deflation And The Fed’s Money Illusion The announcement last week by the Federal Open Market Committee that the central bank would initiate additional, open-ended purchases of residential mortgage backed securities (RMBS) was more than a little sad. Let us count [...] In what seems to be playing out as well may be the final chapter in this surreal Quanatative Easing strategy by the FOMC; the US 30 Year Bond is becoming engulfed in what seems to be a massive selloff which may throw a wrench into the cogs that turn the wheel of the US Governemtn money printing.. http://finviz.com/futures_charts.ashx?t=ZB&p=h1 The worlds largest Bond Fund run by PIMCO s Bill Gross… http://www.businessweek.com/news/2012-09-12/bill-gross-cuts-holdings-of-treasuries-to-lowest-since-october …sold a major stake in US [...] From Bloomberg: The Federal Reserve said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing as it seeks to boost growth and reduce unemployment. “If the outlook for the labor market does not improve substantially, the committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases and employ its other policy tools [...] Streaming by Ustream Fed Chairman Bernanke’s press conference is just getting underway. Watch live here. Earlier, the FOMC announced an open-ended QE program of $40B in MBS purchases/month. While hardly a factor in the Fed’s thinking which is due to present its announcement in 4 hours, today’s Initial claims report came at 382K, the biggest miss to expectations (370K) in 2 months, and up from last week’s naturally upward revised claims of 367K. The 15K jump is the biggest weekly spike in 2 months and 4th largest this year. Just as relevantly, as we warned months ago, those on extended [...] Some very curious thoughts ahead of tomorrow’s FOMC announcement from none other than Citigroup:
“Why QE3 FX impact may fizzle There are several major differences between QE3 now and past QE. The one that is least remarked on is that the world outside the US is much less attractive now than in March 2009 or August 2010 when previous QEs were announced. In earlier QEs, EM was much more attractive, having shrugged [...] Oil prices in global markets have hit a new high as Brent crude rose above USD 115 per barrel after the US Federal Reserve announced a third round of bond buying. http://www.presstv.ir/detail/2012/09/12/261156/global-oil-prices-hit-new-high/?utm_source=dlvr.it&utm_medium=twitter Federal Reserve decision due 12:30 p.m. Thursday, followed by press conference WASHINGTON (MarketWatch) — Fed watchers have little doubt the central bank is getting ready to launch what’s commonly called “QE3,” or a new large-scale asset purchase plan, but many think [...] The U.S. Dollar Index has just failed the key 8o level.. http://finviz.com/futures_charts.ashx?t=DX&p=d1 as the SELLOFF in the U.S. currency will now go into … US DOLLAR COLLAPSE IN PROGRESS… ….full swing here…RISK ON DAY as the FOMC gears up for QE3!! PANICS DO NOT DESTROY CAPITAL: THEY MERELY REVEAL THE EXTENT TO WHICH IT HAS BEEN PREVIOUSLY DESTROYED BY ITS BETRAYAL INTO HOPELESSLY UNPRODUCTIVE WORKS……(John Stewart Economist 1806-1873) The U.S. Dollar index is now in jeopardy of failing the very important 80 level….. http://finviz.com/futures_charts.ashx?t=DX The 1981 movie “Rollover” a movie made 30 years ago about a US Dollar collapse!
Here is it in its entirety. Believe me it will send a shiver down your spine….
…as [...] An equity strategist for Goldman Sachs [GS 106.80 1.08 (+1.02%) ] is predicting a September selloff that happens so rapidly he is telling clients to protect themselves before Sept. 14. The reason: Market disappointment over key meetings of the European Central Bank and Federal Reserve—all within the next 10 days. An ECB Governing Council meeting takes place this Thursday amid growing expectations that ECB President Mario Draghi will lay out some dramatic measures, such as bond purchases or [...] The market is not amused… *BERNANKE SAYS STAGNATION IN LABOR MARKET IS `GRAVE CONCERN’
Source: Zerohedge
Ben Bernanke’s Jackson Hole speech is out. The full speech is below ———– Monetary Policy since the Onset of the [...] From Sober Look: Those (including some of the dovish members of the FOMC) who still think that the policy of a new round of asset purchases is a low risk proposition should only take a look at U.S. gasoline futures. They hit a multi-year high within the past couple of hours… Some are blaming this on Tropical Storm Isaac, others on the Amuay plant explosion in Venezuela. The reality, however, is that [...] by GoldCore Gold Bullion
Today’s AM fix was USD 1,640.50, EUR 1,315.87, and GBP 1,038.49 per ounce. Silver is trading at $29.44/oz, €23.74/oz and £18.72/oz. Platinum is trading at $1,524.75/oz, palladium at $628.60/oz and rhodium at $1,025/oz. Gold climbed $16.60 or 1.02% in New York yesterday and closed at $1,637.60. Silver surged to hit a high of $29.501 and finished with a gain [...] From The Big Picture: The Wall Street Journal: The Federal Reserve’s “hawks” are speaking out against additional action by the central bank to spur the economy. The Fed has moved despite this group’s opposition before. Thus, the comments now don’t represent a signal from the central bank that it is backing away from its statement earlier this month that it might act. But the remarks do highlight the complicated decision Fed policy [...] Quick warning.
We’ll need to start talking about Greece again pretty soon. It hasn’t been at the front of anyone’s mind in awhile, and that’s in large part because Europe is shut down for the month, but come September, the question of Greece’s fate in the Eurozone will become an issue again. In a recent note, Dan Greenhaus at BTIG wrote: A few clients have asked for some specifics surrounding our “fall nervousness” related to Greece [...] |
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