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Welcome, Fellow Long Term Bulls 2/16/21

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OK. I keed. I keed. 

I don't know, but the hourly looks like one of those giant cranes that is about ready to fall over and destroy a bunch of stuff on the way down. 

Look at the hourly oscillators. There's a helluva negative divergence on two of them. But we've had helluva negative divergences before and they just led to teensy weensy pullbacks. 

So I dunno. 

We had a 5 day cycle projection of 3957. It's done. But a 5 day cycle is nothing in the big scheme of things. They're at 3947 at the moment and there are rising support trendlines every 5-10 points below. So I dunno. It's hard to be bearish. 

Get the big picture here

tvc_2df81ccb8f4bca29197a2a3a3ac2039c.png

 

A free report. The most important that you have, or will ever read in your life. 

Proof of How QE Works – Fed to Primary Dealers, to Markets, To Money

Chow!  😉

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Did I share this with you already. I don't remember.  American 'stuck' in Croatia: When central banks and governments work on rescue, they do not save the small but the super-rich

Lee, do you know the story of how the demand that the Treasury reduce it's cash balance to $130bn got enacted?  Was it Team R or Team D that came up with this silly plan.  In any case it's hard to figure how it saw the light of day. I would think Mnuchin and the Fed would have put the nix on that.  At least on the principal that they shouldn't want any constraints on what they do.  Since when do politicians not follow what the high priests of money suggest they do.  

Well I can see how the Street and the PD's would like the idea. Take as much supply pressure as possible off. But then what. $130bn is nearly a rounding error on a weekly basis.

By the way. If by some bizarre chance that the mechanisms of QE suddenly would be acknowledged by all that it inflates financial assets it would not mean some great reckoning.  It would become a policy demand.  America was founded on the dream of asset inflation. It is what everyone wants.

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24 minutes ago, Jorma said:

Lee, do you know the story of how the demand that the Treasury reduce it's cash balance to $130bn got enacted?  Was it Team R or Team D that came up with this silly plan.  In any case it's hard to figure how it saw the light of day. I would think Mnuchin and the Fed would have put the nix on that.  At least on the principal that they shouldn't want any constraints on what they do.  Since when do politicians not follow what the high priests of money suggest they do.  

Well I can see how the Street and the PD's would like the idea. Take as much supply pressure as possible off. But then what. $130bn is nearly a rounding error on a weekly basis.

By the way. If by some bizarre chance that the mechanisms of QE suddenly would be acknowledged by all that it inflates financial assets it would not mean some great reckoning.  It would become a policy demand.  America was founded on the dream of asset inflation. It is what everyone wants.

I don't know how it came about.

$133 billion is only a rounding error in terms of recent history. Before the big boost, the account typically held $10-50 billion.

A few years ago the TBAC recommended it be boosted to $500 billion to deal with contingencies, those being essentially the artificial debt ceiling debates. They always lift the debt ceiling on the very day the Treasury runs out of cash, so it doesn't really matter how much is in the account. It's all arbitrary. 

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In today's T-bill announcement, Treasury is paying down $55 billion. This is a sign of panic, as the 10 year yield soars. They are desperate to get cash into the pockets of dealers and investors to force them to buy further out on the curve.

https://liquiditytrader.com/index.php/2021/02/14/proof-of-how-qe-works-fed-to-primary-dealers-to-markets-to-money/

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Quite the indictment on cell phones. this is a national strategic move by chiner, and will enable them to surpass our education system.

 

Chiner Bans Cell Phones in Schools



"China's Ministry of Education issued a directive this month to bar all primary and secondary school students in China from bringing mobile phones to school. If a child is caught playing on a phone at school, the teacher is to confiscate the student's phone and return it when the semester ends. Schools must not assign or ask students to do homework via cell phones. Schools must set up public phones and teacher hotlines for communication between parents and students!"

https://ehtrust.org/china-bans-smartphones-in-all-primary-and-secondary-schools/?utm_source=email&utm_medium=cc&utm_campaign=china

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