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DrStool

Fed Makes Noise Like Bazooka, Shoots Popgun 3/16/200

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Fed Makes Noise Like Bazooka, Shoots Popgun

by NY | Press Releases | Markets & Policy Implementation •  • 0 Comments

The only thing new in Sunday's emergency Fed statement was the $200 billion in MBS purchases.

 
 

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If the reserve requirement is now zero why do we need a Fed Funds target, much less a fed funds market?  

I think on some grand scale the elimination of bank reserve requirements might mark the end of the current monetary/banking system.

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Effectively there's been virtually no reserve requirement for decades. Time deposits are exempt, and banks do nightly sweeps. 

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7 minutes ago, DrStool said:

Effectively there's been virtually no reserve requirement for decades. Time deposits are exempt, and banks do nightly sweeps. 

Sure, it was a fig leaf and symbolic. Symbols mean something.

I would think a total market closure, beyond the circuit breakers or more than a day, has to be on the table. 

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3 minutes ago, DrStool said:

March 1933. 

3/23/33. The Enabling Act. Sorry to be so grim.

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As I said the other day they will close Wall Street. There is no other choice.

This is total and relentless global de-leveraging of absolutely epic proportions.

Not absolutely sure yet, but I think it is bigger than 2008. It is definitely bigger than 2000-2003.

If they don't close the Street than we gonna hit 666 within two weeks.

Deutsche Bank alone could bring this market completely down. Beleive me. When Deutsche unloads ist toxic derivatives Portfolio till it is unloaded no single brick will be on each other on planet earth anymore. They have to find a way how to get rid of that on the Balance sheet. I don't know how. Maybe Deutsche has to be nationalized within the next 48 hours or whatnot. I have no clue.

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That does it. This is the bottom. 

 

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16 minutes ago, DrStool said:

That does it. This is the bottom. 

 

I don't think old standards apply anymore. Still,  there is that buy button, somewhere, to take the futures up.

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3 minutes ago, Jorma said:

I don't think old standards apply anymore. Still,  there is that buy button, somewhere, to take the futures up.

Yep, they can initiate a 3000 Point countermove in the Dow anytime out of thin air.

But today is not THE bottom. Never. Ever.

The US will be hit hard by Corona. Very hard. Far more than Europe. And THAT will crush the market in a way mankind has not seen before. Maybe in 1929-1932, ok.

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"And THAT will crush the market in a way mankind has not seen before. Maybe in 1929-1932, ok."

oh crap... I think this has really the potential to mark the bottom :lol: :lol: :lol:

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I can't get charts. All of the intraday services I use are down. 

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