To QE3 or Not to QE3: Open Thread
For example: gold and silver were smashed today, in an attempt to knock them down prior to the official announcement….or:
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I don’t know if they will announce it or not, but I know they’ve been ‘easing’ in secret for a while now.
“Rather than market research, fundamentals, and hard work, investing in US markets has devolved into a coin flip or Vegas style betting on whether the Fed will counterfeit or not.”
The announcement is at 12:30 EST. 11:30 CST. Do not miss it.
Nothing changes tomorrow. No disaster to pin it on……..yet!
So—Will They Announce It Tomorrow? NO. In Fact, I Think The Term “QE3″ will, of course, never be referred to by the Fed.
Because the size of the stimulus must be large enough to make a difference, they must insert wording into their puppet-press release babbling to be interpreted as QE3. Since “extended twist” and small bond purchase programs will have no impact, I don’t think these proposals will come up tomorrow—BUT THEY EVENTUALLY WILL BEFORE THE ELECTION IN SEPTEMBER 13th, IMO.
Therefore, because a massive program is required and because the stock markets have not been destroyed yet, I don’t believe ANY announcement of ANY stimulus will be released.
Instead, we’ll get “the economy is recovering slowly, unemployment is not improving as robustly as we would like to see. inflation remains low, but developments in Europe, although encouraging remain unstable.“
“European stability is key to global recovery. We are encouraged by developments in Greece but there is still a lot of work to do. Financial markets are strained but are forecast to grow moderately.”
BLAH BLAH BLAH
Stock markets will tanks along with gold and silver starting tomorrow IMO. We will then hear more details after tomorrow about this ridiculous $750 billion Euro– “Multi-Country Plan” coming from the G-20 unless that has changed again in the last hour.
No stimulus yet-(Nothing is needed until they create the crisis so that it appears the masses are begging the Fed for more money. That way, the Fed is exonerated from anyone questioning the intelligence of printing currency into oblivion) –Until Then, All is well—move along!
If it happens it happens, if not, well I’ll keep stacking no matter what.
The day has been pretty boring on Docs today, nothing really exciting except for Jake’s commentary of the sleaze..
Fed won’t announce anything tomorrow, even though it might be the last chance to do so before full blown political season. seems more likely a sudden surprise announcement away from meetings would be more likely to feature more EQ. More than anything, can’t shake the thought that O and B are linked; IF one is out of a job in November the other will quickly exit as well. Meaning if one gets to continue the other will as well. EVERYTHING is about the election from now on.
FOX NEWS BREAKING
I just Heard Breaking News On Fox That The Syrian Govt Has Lost The Backing From Russia—Fox Has The News Breaking Coming Up—If This Is True, The Civil War Could Result In The Overthrow Of The Govt There—Interesting.—This Could Also Result In A Wind-Down Of The War.
Russia Has Turned Some Attack Helicopters Around That Were On Their Way To Syria. This Would Be Something Obama (Manchild) Could Take Credit For—Get Ready For A Speech In A Few Hours Or Less!
MANCHILD OBAMA SPEECH IN A FEW MINUTES HAHAHA!
He’s Already Taking Credit For Getting Putin To Stand Down On Backing Syria!
HAHAHA!
I say Thursday they will indicate the intend to do some stimulus. Jake I think they will push it sooner than later. The further away from the elections the better. The quick fix of stimulus in the economy will make Obama look better prior to the elections, you know he will take full credit for it to. Just prior to the elections Obama has to ask congress to rase the debt celling. He dose not need both of these happening at the same time.
Hey CRASH MONGERS!—Fox Is Now Saying Putin IS NOT going To Stand Down!—He Stands With The Syrian Govt He Will Not Back Down As The Manchild Has Asked—Fox Showed The Manchild Running To The Podium—Thinking he was going to announce how wonder he was to have convinced Putin to Stand Down—But I guess That Was A Fake Rumor!—HAHAHA!—Now What Is He Going To Say?—HAHAHA! SILVER JUST POPPED From $28.29 To 28.52 in a few minutes So Funny!
This is what the next QE will look like
427—I think This Is The Most Important Trigger-From My Post–”(Nothing is needed
until they create the crisis so that it appears the masses are begging
the Fed for more money. That way, the Fed is exonerated from anyone
questioning the intelligence of printing currency into oblivion)“–The Markets Are Already High—They Usually Want To Appear To be Dragged, kicking and screaming into making these type of decisions—Still awaiting The Manchild Speech—HAHAHA!—What An Arrogant Ass!
The Manchild Is Already 13 Minutes Late!
I don’t think they’ll announce QE3 or something similar tomorrow. I could be wrong, but i’m ready for it should it come.
Bull Lion—Back At Ya
It’s summer solstice tomorrow, so the pagan Illuminati will want to kill the dollar is my coin toss call.
427—Maybe The Manchild Is Setting The Stage For That “CREATED CRISIS” I Was Looking For Now—This Speech, (On Fox Now), Is About so-called “global Crises In Europe.
Jake
Haaa…Reminds me of my High School days!
No doubt Jake Im watching Fox right now. You know Russa did not turn that ship around for insurance reason there trying to save face for some reason. Oh gee my war ship is not insured so I cant go to battle.
Ha ha ha Jake Obama set up for a speech for Putin backing down, And then had nothing to say
427–Right—My Take On That Rumor Was That Maybe Putin (Because He Knows What Motivates Obama, Which Is Anything That Strokes His Ego), May Have Set Him Up To Look Like An Idiot—He Told Obama He Might Be Agreeable To Standing Down In Syria—Then Waited For The Ego-Maniac To Run To The Podium
—At The Last Minute—He Yells—WAIT YOU MORON!—I Never Said That!—HAHAHAHA!—So The Manchild Has Nothing To Say—O’Reily’s First Comment Was That It Was THE MOST BORING PRESS CONFERENCE HE’S EVER HEARD—So, I Think The Manchild Was Just Salivating About Announcing The Stand Down In Syria—But Got Fooled By A Master Of The Global Chess Game—SO FUNNY!
Yep just watched that, Sad but to funny to cry about it. I can not wate until the elections Please Please hurry up
The Fed is already on QE-17 or so. When the Fed buys its own debt it is by definition quantitative easing. Don’t fall for the MOPE. It’s continuous QE. If the Fed announced it was really contemplating QE-18 the markets would revolt. This way by pretending we are only at DefCom 2 everyone just smiles and moves on.
There will be no QE3 tomorrow. The astronomical number needed to save the economy is not yet high enough. The next QE3 will be somewhere in the 10 trillion number, or higher. No QE3 that does not have a multi-trillion price tag will be considered. Plus, by no means will the FED endanger the election of Obama. The FED also wants pretty boy (Jamie Dimon) to look like a economic genius and a genuinely humble guy to win the average American on the street. The love-fest on the Capitol today was disgusting.
but isnt what the feds going to be doing it with the qe also tommoro or not
My GUESS is that there won’t be any official QE, for several reasons- For one, they don’t have to. By hinting around that they might, they will get the desired market pop. For two, they are already printing and spending the money through those very important ‘swaps’ with the ECB and covering their losses in the capping of the metals.
Three, they have no big buyers for their bond auctions, China’s not very friendly right now and they got bashed the last time they bought them themselves. And last, people were incensed at the original tarp program, any public QE will be so big they will cause a major bitch-fest and cost obamney some points. I think they will have to raise the debt limit just before the election, and that is problematic also.
If I’m wrong and they announce it it will make their costs capping the metals sky rocket.
based off of all of the “there will be no qe3 tomorrow” i’m saying they’ll announce. the masters of the universe always seem to go opposite the popular sentiment.
Maybe they buy some toxic mortage debt, but again they will most likely wait for a real mess and then use it. I guess a smashdown in the metals is going to happen, we well see soon enough.
I think Jake hit the nail on the head when he said, “The Term “QE3″ will, of course, never be referred to by the Fed.” He’s right! They saw what happened to PM’s with 1 & 2 (see Conax above – metals sky rocket) so I doubt they’re going there again. Whenever whatever happens, it won’t be called QE3, which is what UglyDog is also saying about ‘QE18′
Now listen to Jake and do your duty at your local coin shop!
QE by any other name is still QE.
To QE or to not QE, that is the question.
A merchant in Vience wanted to extract a pound of QE.
It`s all just literature. With a little extra drama
Special thanks to the Bard. Hope he`s not mad about the literary license.
I`m just saying
Indeed they’re already doing it but QE3 officially… too early I think. After summer when PMs are rallying again….. just my guess. Before election.
Love y’all,
R3K
There will Be no QE or Twist on 6/20 Wednesday
This Fed meeting is only the excuse to Smack down the price of Silver / Gold by “The Boyz” JP manipulators. These Fed meetings are pre arranged so big Silver / Gold buyer buddies come in to take the cheap physical out of the market.
I am not making this up. Michael Pento, an expert on the markets speaks of this in this Podcast from 10 days back: see: KWN Podcast:
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/6/8_Michael_Pento_files/Michael%20Pento%206%3A8%3A2012.mp3
(1) NO QE3 unless S&P is trading down to 1100
(2) NO QE3 unless 2 Quarters where GDP has a Zero handle 0.1 – 0.3
(3) NO QE3 unless the CPI starts heading back to Zero
(4) NO QE3 unless unemployment rate reaches approximately 9%
Silver Psycho says NO QE3 today
Pull money out your bank and buy some cheap silver after 3pm complements of Banana Ben
Probably half off-topic but anyway:
I haven’t realized this before as clearly but I realize now that the taking on of the derivatives bubble by municipalities, pension funds, coops, and such was not because they got such a great deal offered in terms of investment, but because they could hide their debts. On the balance sheet (wrong side) without mark-to-market (wrong number as well as wrong side). So they all fell for it and they all thing they’re TBTF now.
They’re now learning that some animals are more equal than others.
But that’s as for the why.. they really were lured in mostly I think, made to believe that their debts could not only be made whole but be turned profits. Utter fools.
All in all, while it doesn’t change the big picture I’m starting to understand better how they got into the derivs mess in the first place and thats because they already had debt. It was never a sound investment but rather how to “divest debts”. Same with the EUR countries. Lured and duped.
@Jake if we had an online chess game I’d love to play!!
I am predicting that there will be language indicating at the very least an extension of the current loose fiscal policies (low interest rates, operation twist, QE if necessary etc.) in order to deal with the worsening economic conditions and external risks i.e. European PIIGS. This will spark a “risk on” rally in which all emerging market currencies as well as silver and gold will rise appreciably value in terms of USD, CAD, JPY, EUR, GBP. We’ll see if I’m right tomorrow.
Rumor has it Ben will provide some backstop liquidity for Europe. We don’t really need it since the juice is still working in our markets, provided by the flood of capital from Europe and the last QE. But Europe is desperate and IMF only has about $450 billion. Not enough by a factor of 10 to 1. Ben will probably weasel some funds under some obtuse terminology known only to his clan but soon to be figured out by the rest of the people. Presidential years always see printing and now that the election cycle is in full swing we can expect the juice to flow.
time for contact sports!
4 oz. lol And like my Father always said: “Every sport has its injuries.”
I think Jake is spot on about this. No blatant QE announcement. The Fed will only comment on being increasingly concerned, but will actually announce nothing. AGXIIK could be right about a vague announcement in support of Europe. England has already chimed in with a 200b dollar committment, so that wouldn’t come as something too surprising. But, they’ll certainly be vague and non-specific, as always.
I counted roughly 17,000 contracts in the silver volume on that last up-swing from that $27.99 low to that $28.63 high in the last 90 minutes. There’s definitely some demand here. If there’s anything positive, silver has enough volume behind it.