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GS sez it, it must be


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it's a little alarming to see the monetization done so plainly.....right in front of God & everybody.

 

a sikh story that goes like:

 

a holy many gives two men each a chicken and sez go kill them where no one can see

the first guy goes into the forest and kills the chicken

the other guy walks around for three days and comes back with the chicken

the holy man asks you didn't kill the chicken?

the guy sez everywhere i go, the chicken sees

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Not only is it not unusual,they've been doing it twice a week like clockwork every week since they announced the program in mid March. They even pre-announce the tentative schedule. There's no conspiracy and nothing hidden whatsoever. All this stuff about the Fed hiding what it's doing makes me laugh. They publish it on their damn website fergodsakes. If they wanted to hide it, well then...

 

they'd hide it.

 

Then these people have the gall to turn around and complain that you can't believe the data anyway.

 

You gotta take these fearmongers for what they are.

 

Anyway, I'm glad you asked. Bottom line, you have to be just as skeptical about bearish bloggers as you are about Cramer and the mainstream infomercial media. Remember, everyone is selling something. Even me. Be skeptical. Ask yourself what makes sense and what doesn't.

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Oh, and by the way, total Fed Credit was down again this week, and is now down $265 billion from the December high, and $205 billion from the secondary peak in April. So technically, Fisher is correct. If you consider the total size of the balance sheet, the Fed stopped monetizing in December. It's a technical point, but down is down. They haven't been buying enough crap to offset the declining level of alphabet soup.

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...you have to be just as skeptical about bearish bloggers as you are about Cramer and the mainstream infomercial media. Remember, everyone is selling something. Even me. Be skeptical. Ask yourself what makes sense and what doesn't.

 

touche and cheers

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This is for the benefit of all those bedwetting hysterical teenager bearish economic bloggers out there.

 

masthead_052303_01.gif

Operation Date Settlement Date Operation Type1 Maturity/Call Date Range

August 6, 20092 August 7, 2009 Outright Treasury Coupon Purchase 05/15/16 ?€“ 05/15/19 spacer.gif spacer.gif August 10, 2009 August 11, 2009 Outright Treasury Coupon Purchase 05/15/12 ?€“ 11/30/13 August 11, 2009 August 12, 2009 Outright Treasury Coupon Purchase 08/15/26 ?€“ 05/15/39 spacer.gif spacer.gif August 17, 2009 August 18, 2009 Outright Treasury Coupon Purchase 12/31/13 ?€“ 04/30/16 August 19, 2009 August 20, 2009 Outright Treasury Coupon Purchase 02/15/20 ?€“ 02/15/26 ______________________________

1Nominal coupon operations are specified as ?€œOutright Treasury Coupon Purchase?€? and TIPS operations are specified as ?€œOutright TIPS Purchase?€?

2Previously announced operation

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