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Genesis Posts: 71358 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/924-BE....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-02 12:03:50
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Eternalblue Posts: 4230 Incept: 2007-08-09 
sokali
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despite the masters of the universe, the correct solution to depression; do nothing ---------- my miniblog; http://economicpsychosis.blogspot.com/
2009-04-02 12:08:40
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Jazen Posts: 1509 Incept: 2007-07-17
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Holy ****. ---------- Y'all smoke this **** to escape reality? Me, I don't need this ****. I am reality.
2009-04-02 12:09:10
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Randy123 Posts: 2001 Incept: 2008-09-24 New Jersey Online
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Yep, only a matter of time. Buying Ts was the game changer when it happened.
---------- Mliu is my hero. Captain melamine.
2009-04-02 12:13:43
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Cheapbastud Posts: 659 Incept: 2007-10-09
F is for FAIL
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Karl, this part seems like it's missing something: "it will not be long before The Fed owns enough of the long end of the curve to effectively by the "whip hand"," like there is a word or two missing.
2009-04-02 12:17:12
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Hopeandpray Posts: 5 Incept: 2009-03-19 Boston, MA
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But doesn't that mean banks will make even more money?
2009-04-02 12:18:00
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Phirang Posts: 8822 Incept: 2008-10-25
bar khoba's revenge
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higher interest rates will kill asset prices
---------- The Treasury can issue debt on your behalf because the State can and will stomp the wealth out of you and your family.
2009-04-02 12:20:13
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Creditcalmass Posts: 1144 Incept: 2008-06-04 4 train, NY
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The light at the end of the tunnel just blew it's whistle.
2009-04-02 12:20:58
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Cheapbastud Posts: 659 Incept: 2007-10-09
F is for FAIL
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damn, fastest keys in the south!
2009-04-02 12:22:36
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Steelpiston71 Posts: 2014 Incept: 2007-09-05 Michigan
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"right into the maw of this economic and banking mess" banking morass seems more appropriate, what a sham.
---------- "The Data Do Not Lie", Mr Mortgage (aka Hedgefundmanip), April 16th March Foreclosure Crisis Video.
2009-04-02 12:24:08
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Rich_lather Posts: 7 Incept: 2008-04-23 Tallahassee
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Isn't short-term debt roll-over what whacked Russia in 1998? Aren't we setting ourselves up for the same?
2009-04-02 12:24:53
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Firefly Posts: 170 Incept: 2009-03-20 
NYC
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Forgive me, as a computer nerd I am not sure I understand what is/did/will happening with this. Can someone explain it in 100 words or less that an above average intellect who is ignorant on such matters can understand?
2009-04-02 12:25:59
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Phirang Posts: 8822 Incept: 2008-10-25
bar khoba's revenge
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SAME ****ING THING HAPPENED TO UK in 1967!!! Obongo = mongrel version of Harry Wilson ---------- The Treasury can issue debt on your behalf because the State can and will stomp the wealth out of you and your family.
2009-04-02 12:26:46
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Timbo Posts: 1132 Incept: 2008-10-10
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Why, no! All of this Depression stuff was before we knew about Dissertationomics. If you goose the throttle hard enough, the mountain goes away.
---------- http://mises.org/story/770 http://www.theplacewithnoname.com/blogs/klessons/index.html If you don't fly the plane and find a place to land, then God will find a place to park you.
2009-04-02 12:26:56
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Gmak Posts: 10176 Incept: 2007-07-27
Re-inventing the future at the speed of time.
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deleted
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2009-04-02 12:29:04 by gmak
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Txdomer Posts: 967 Incept: 2007-11-07
Ding-dong, the Fed is dead!
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Quote:At this rate it will not be long before The Fed owns enough of the long end of the curve to effectively by the "whip hand", at which point external financing for the government is all in the short end. Karl, would you care to estimate how long it will take? ---------- "Economics is not practiced as a science. Rather, it is a pretentious way to covertly promote political prejudices." - Fred Harrison http://renegadeeconomist.com
2009-04-02 12:29:27
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Stoverny Posts: 250 Incept: 2009-02-25
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There is some momentum now in the markets so I think they feel it's now or never for their hail mary pass...
2009-04-02 12:31:47
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Baldy Posts: 6554 Incept: 2008-05-16
Pittsburgh
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Don't know if this shows any correlation that anyone can assess - I listed the POMOs and durations bought and amount offered vs bought http://www.tickerforum.org/cgi-ticker/ak.... OH LOOK at Fed Funds the other day- high was a bit high, dont know if this means anything... 03/31 0.16 0.01 1 0.09 0.00 - 0.25
---------- FY2011 Budget - Hist'l Tables (PDF 2.0 MB) http://www.whitehouse.gov/omb/budget/fy2011/assets/hist.pdf 1996-2011 budgets: http://www.gpoaccess.gov/usbudget/browse.html Last modified:
2009-04-02 12:40:41 by baldy
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Captbill Posts: 485 Incept: 2008-07-22
Arizona's West Coast
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But Cramer said on CNBS just this morning "The Depression is Over" and we go up from here on... (sarc off) Boy Karl, you don't miss ANYTHING!
2009-04-02 12:37:45
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Reza30 Posts: 233 Incept: 2009-02-15
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Folks, it seems Ben has a way of starting slow with something and then it snowballs from there. Remember his small interest rate cuts leading the way for larger reductions? So he started out with 300 billion in fresh cash to purchase government debt. What if he ups it to a trillion? 2 trillion? 3 trillion? Can't he eventually force the rates down this way? Remember that he is not bound by the gold standard and the limitations of available gold. Just my 2 Cents Last modified:
2009-04-02 12:44:25 by reza30
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Tesla Posts: 8174 Incept: 2008-04-03
Delaware
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.never mind., original post was edited
---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata Last modified:
2009-04-02 12:52:33 by tesla
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Genesis Posts: 71358 Incept: 2007-06-26
KD^2
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Quote:So he started out with 300 billion in fresh cash to purchase government debt. What if he ups it to a trillion? 2 trillion? 3 trillion? He winds up owning the entire long end before he gets to $2 trillion. Now what? That is no longer a funding source for the government, that's what. This compresses the actual external funding into the short end. The squeeze comes on hard and fast the further he goes and when the overcenter point is reached he's ****ed. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-02 12:43:56
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Makoshark Posts: 142 Incept: 2007-11-28
S. Carolina
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Tesla, he wrote "not bound"
---------- Putting out fire with gasoline
2009-04-02 12:45:43
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Berkleyreindeer Posts: 560 Incept: 2008-07-22 Minneapolis , MN
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I thought the most interesting part of the ticker was a three word bit, not the numbers involved, which were obviously bad. "on the run" to the uninitiated, that means he was buying at auction or the most recent issue of that duration (from the last auction). why is this important? 1--(possibly) he knows the dealers don't want to issue strong bids. this is very important in light of them losing another primary dealer. 2--or he knows the foreign banks simply aren't bidding 3--"off the run" bonds have higher rates because they are less liquid. Ben is doing this by auction, and he could choose any issue to buy. why would he intentionally take a lower return? If he is overpaying either way, why not absorb the higher yielding paper? 4--bernanke is buying exactly the same durations the treasury is issuing...2 5 and 7's primarily. This reeks of sticking the finger in the dike after a leak is found. ---------- It'll get worse. Just wait.
2009-04-02 12:49:42
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Genesis Posts: 71358 Incept: 2007-06-26
KD^2
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#2. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-02 12:50:49
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