World economy talk

[tidus1203]

hehe

the Fed is in the bond market to hold down rates so the USG can borrow cheap

the USG can keep issuing treasuries and not worry about oversupply (causing rates to rise) coz the Fed is there to absorb everything the US Treasury Dept can vomit -- the Fed simply creates money to buy the treasuries

and investors keep piling into treasuries coz the Fed is there supporting prices

something just isnt right about all this

this can't go on forever

this can end badly

The Fed is now participating on the bubble. The Fed might as well just throw money from a helicopter it might do better wonders to the economy than quantitative easing...

[silverrain]

yep

all hell can break loose

we just don't know when

The signs are here....

[safeorigin]

hmmm... it seems like there's a threesome here

[tidus1203]

hmmm... it seems like there's a threesome here

Hehehe welcome to the club! Ayan meron na rin palang iba medyo interesado... I know for most its a boring topic to talk about, but to those in the know it can be profitable...

[safeorigin]

boring? I beg to differ

[safeorigin]

http://www.rasmussenreports.com/publ...ust_17_18_2010



oh man, we're gonna see another war

[uls]

The signs are here....

yep that's why i've been posting that kitco chart

---

US Q2 GDP revision 830pm

Bernanke speech 10pm

[safeorigin]

in case nobody has posted this yet...

[uls]

tidus, our resident CNY bull, is gonna love this

Banks back switch to renminbi for trade
http://www.ft.com/cms/s/0/182a2b70-b...44feabdc0.html

A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China.

HSBC, which recently moved its chief executive from London to Hong Kong, and Standard Chartered, are offering discounted transaction fees and other financial incentives to companies that choose to settle trade in the Chinese currency.

“We’re now capable of doing renminbi settlement in many parts of the world,” said Chris Lewis, HSBC’s head of trade for greater China. “All the other major international banks are frantically trying to do the same thing.”

HSBC and StanChart are among a slew of global banks – including Citigroup and JPMorgan – holding roadshows across Asia, Europe and the US to promote the renminbi to companies.

The move aligns the banks favourably with Beijing’s policy priorities and positions them to profit from what is expected to be a rapidly growing line of business in the future.

The phenomenon will accelerate Beijing’s drive to transform the renminbi from a domestic currency into a global medium of exchange like the dollar and euro.

Chinese central bank officials accompanied StanChart bankers on a roadshow to Korea and Japan in June. The bank held similar events in London, Frankfurt and Paris.

Lisa Robins, JPMorgan’s head of treasury and securities services for China, said there had been a “spike in interest” from international clients.

An increasing number of Chinese companies have been asking foreign trading partners to accept renminbi as payment, said Carmen Ling, Hong Kong head of global transaction services at Citi.

BBVA, Spain’s second-biggest bank, is also drawing up plans for a global marketing campaign that will focus on Latin American companies that export to China.

Banks started establishing renminbi trade settlement operations in mid-2009, when Beijing introduced a pilot scheme allowing companies to use the renminbi for trade outside China.

[tidus1203]

in case nobody has posted this yet...

Nyahahaha. Hey where is the File>Print Money button...

How many copies?

1B COPIES of $100 bill!

[tidus1203]

tidus, our resident CNY bull, is gonna love this

Banks back switch to renminbi for trade
http://www.ft.com/cms/s/0/182a2b70-b...44feabdc0.html

Yeah it was only a matter of time. CNY is now moving closer and closer to being more convertible... Now we really need it to be floating as well and we're all set...

[tidus1203]

JACKSON, Wyo. (AP) -- Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.


The Fed chief offered his most extensive thoughts yet on how to pull the U.S. economy out of a deepening slump. His remarks came 90 minutes after the government said the economy slowed sharply in the second quarter to a 1.6 percent pace.


Fears are growing that the country could lapse back into a recession. Bernanke described the economic outlook as "inherently uncertain" and said the economy "remains vulnerable to unexpected developments."


Bernanke stopped short of committing to any specific action. But he raised the prospect of another Fed purchase of securities, most likely government debt or mortgage securities, to drive down rates on mortgages and other debt to spur more spending by Americans.

http://finance.yahoo.com/news/Benank...&asset=&ccode=


QEII is now more clear than ever before.


And also as I have been saying in the past weeks, siguradong may downward revision yan for GDP... Double dip is now highly likely... The mother of all economic data which is the non-farm payrolls have never been rosy from the beginning so it was obvious na this recovery is a fake. There is no true recovery that does not bring JOBS!

[safeorigin]

Nyahahaha. Hey where is the File>Print Money button...

How many copies?

1B COPIES of $100 bill!

apparently, you missed it...

the option says:

"crank the presses to warp speed"

and "burn bitch"

^^

[uls]

something strange happened 10pm

this is the S&P 500 emini futures


this is AUD/JPY (proxy for stocks)

[silverrain]

The Fed is obsessively terrified of deflation that in its quest to kill that demon it will bring the US economy down with it.

[safeorigin]

^insider trading

[tidus1203]

I say its nothing... Just re-shuffling back and forth, back and forth. Tignan mo next week all those gains will be erased and then some! By the way for the whole trading week we are still in the RED despite yesterday's rally...

[uls]

at around 10 am, Intel came out with negative guidance

this is what happened next:



circuit breakers were triggered

trading on INTC was halted

http://online.wsj.com/article/BT-CO-...27-709733.html

NEW YORK (Dow Jones)--Trades in Intel Corp. (INTC) Friday that triggered a five-minute halt in the stock shortly after the company's guidance cut were deemed erroneous and canceled, according to the New York Stock Exchange.

Intel's stock was halted twice Friday morning. The first halt was a "news halt," which began as the company issued a press release noting the company lowered its third-quarter revenue and gross-margin targets. That halt lasted 17 minutes, until 10:15 a.m. EDT.

The stock was halted again only two minutes later, this time triggered as part of a pilot program of single stock circuit breakers, which halts any stock that is a component of the Standard & Poor's 500 index for five minutes if the stock has moved 10% or more in the preceding five minutes.

New York Stock Exchange Spokesman Raymond Pellecchia Jr. said the trades that triggered the circuit breaker for Intel occurred on Arca, and have since been canceled after a review showed they were erroneous. The exchange did not have information available yet on the prices or the sizes of the trades that triggered it.

---

At 10 last night, Bernanke said the Fed will do all it can to fight deflation

including buying more more securities if growth slows (QE2)

equities fell

---

also at around that time, the University of Michigan Consumer Sentiment number came out below expectations

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in short there was a lot negative news and equities were falling

then someone put a floor under ES (S&P 500 emini futures) before it touched 1040

someone big is protecting the ES from falling below 1040



the ES is the most popular, most liquid stock index product

if you wanna manipulate stocks, with enough money, this is the place to do it

someone big started pumping up the ES around 10 last night

anyway...

happy weekend

[safeorigin]

http://en.tackfilm2.se/?id=1283008311286ID167

[uls]

BoJ emergency meeting

USD/JPY