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Thread: QE4 Started & Nobody Noticed

  1. #151
    Quote Originally Posted by Bern View Post
    5/7/20 - $ 6.769 T

    Just a $66B increase (over last week). Looks like the Fed now owns $4B in the "Commercial Paper Funding Facility II LLC".
    Any indication who the 4B went to? 4B via the Fed, but really from the Treasury via the ESF would cover a bunch of Citadel's daily wash trading.

    https://www.federalreserve.gov/newse...y20200317a.htm

    The Fed specifically cites 13(3) as the authority for this program. 4B is pretty much nothing for corporate bond issuance but sure will buy up large chunks of S&P futures overnight. All of the S&P gains now are from overnight futures buying. PPT money laundering via blatant FRA violations and the taxpayer is on the hook for all of it.

    The Treasury will provide $10 billion of credit protection to the Federal Reserve in connection with the CPFF from the Treasury's Exchange Stabilization Fund (ESF). The Federal Reserve will then provide financing to the SPV under the CPFF. Its loans will be secured by all of the assets of the SPV.
    Last edited by devil21; 05-10-2020 at 12:59 AM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.



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  3. #152
    Quote Originally Posted by devil21 View Post
    Any indication who the 4B went to? ...
    I haven't seen any detail on it. I only just now (when I looked prior to my last post) noticed the line item in the report. Apparently they started reporting on it with the April 16 report. It went from $0 -> $0.95B -> $2.71B -> $3.347B -> $3.948B. A drop in the bucket of the overall balance sheet for sure, but it would be interesting to know which zombies the Fed are helping to continue to eat brains.

    Wolf Richter posted another analysis of the balance sheet report:

    https://wolfstreet.com/2020/05/08/fe...ust-jawboning/

    I'm not sure he noticed the CPFF line item as he says they haven't bought junk bonds yet...
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?



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  5. #153
    Fed says it is starting junk bond ETF buying today. Markets seem unimpressed so far and the pledged figures in the ZH link are relatively small.
    https://www.zerohedge.com/markets/fe...-you-need-know

    I'll still believe it when the balance sheet reflects it. Besides, buying ETFs isn't the same as buying the underlying asset so buying any ETF is bigly violating 13(3). They could have maybe played loose with the FRA if they'd actually bought junk bonds with proper diligence under 13(3). But ETFs are market funds that contain bonds, so the Fed isn't actually even buying bonds. Whenever someone buys an ETF, they're not buying the underlying asset (usually, except in rare cases like GLD where physical delivery may be possible), they're just buying a trading vehicle that reflects the assets held in trust by the ETF issuer. So if the SPV is buying the ETF, the Fed/SPV isn't buying the bonds themselves. Blackrock holds the junk bonds in LQD. StateStreet holds the bonds in JNK.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  6. #154
    Quote Originally Posted by devil21 View Post
    Fed says it is starting junk bond ETF buying today. Markets seem unimpressed so far and the pledged figures in the ZH link are relatively small.
    https://www.zerohedge.com/markets/fe...-you-need-know

    I'll still believe it when the balance sheet reflects it. Besides, buying ETFs isn't the same as buying the underlying asset so buying any ETF is bigly violating 13(3). They could have maybe played loose with the FRA if they'd actually bought junk bonds with proper diligence under 13(3). But ETFs are market funds that contain bonds, so the Fed isn't actually even buying bonds. Whenever someone buys an ETF, they're not buying the underlying asset (usually, except in rare cases like GLD where physical delivery may be possible), they're just buying a trading vehicle that reflects the assets held in trust by the ETF issuer. So if the SPV is buying the ETF, the Fed/SPV isn't buying the bonds themselves. Blackrock holds the junk bonds in LQD. StateStreet holds the bonds in JNK.
    It's all about expectations; they're trying to delay things, to maintain the magic act.

    Sooner or later, LQD and JNK are going to get wrecked if they don't get bought by the Fed.

    ...along with pretty much everything else.

    Therefore, they will get bought.
    Last edited by r3volution 3.0; 05-13-2020 at 12:15 AM.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  7. #155
    5/14/20 - $6.982T

    $213B increase. Biggest weekly increase in a month after steadily declining increases.
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  8. #156
    213 billion . Now we are getting somewhere .

  9. #157
    Quote Originally Posted by Bern View Post
    5/14/20 - $6.982T

    $213B increase. Biggest weekly increase in a month after steadily declining increases.
    The crackheads at Wall and Broad disliked the anti-NIRP comments, I suppose, so Powell had to throw some more crack at them.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  10. #158
    Quote Originally Posted by Bern View Post
    5/14/20 - $6.982T

    $213B increase. Biggest weekly increase in a month after steadily declining increases.
    Anything in the junk bond SPV yet?
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  11. #159
    Yeah, $305 million worth. They started buying Tuesday, so balance sheet report just shows the first two days or so of activity. They are just getting started.

    https://wolfstreet.com/2020/05/14/fe...-a-huge-rally/
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  12. #160
    Quote Originally Posted by Bern View Post
    Yeah, $305 million worth. They started buying Tuesday, so balance sheet report just shows the first two days or so of activity. They are just getting started.

    https://wolfstreet.com/2020/05/14/fe...-a-huge-rally/
    Thanks. It's nice to document when the Fed officially and publicly violated the FRA even if a tiny amount by today's standards.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.



  13. Remove this section of ads by registering.
  14. #161
    Quote Originally Posted by r3volution 3.0 View Post
    The crackheads at Wall and Broad disliked the anti-NIRP comments, I suppose, so Powell had to throw some more crack at them.
    I have a feeling that 30 years from now there'll be books written about the "Great Dollar Collapse" and how dumb everyone was to think we could just print our way to prosperity.

    And then 60 years from now they'll be saying "this time it's different!".

  15. #162
    Quote Originally Posted by Madison320 View Post
    I have a feeling that 30 years from now there'll be books written about the "Great Dollar Collapse" and how dumb everyone was to think we could just print our way to prosperity.

    And then 60 years from now they'll be saying "this time it's different!".
    Something about rhyming...
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  16. #163
    Quote Originally Posted by r3volution 3.0 View Post
    Something about rhyming...
    That went over my head, I need a hint.

  17. #164
    Quote Originally Posted by Madison320 View Post
    That went over my head, I need a hint.
    History doesn't repeat but it does rhyme.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  18. #165
    5/21/20 - $7.085T

    $103B increase. Less than half of last week's increase.

    Federal Reserve purchases of exchanged-traded funds invested in corporate debt totaled $1.8 billion in the first six days of the program, according to data published Thursday.
    ...
    https://www.bloomberg.com/news/artic...nd-etfs-so-far
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  19. #166
    Quote Originally Posted by Madison320 View Post
    That went over my head, I need a hint.
    Go whitewash something.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  20. #167
    Rumors/reports that now-bankrupt Hertz bonds are part of the Fed's portfolio now via the ETF buying. If true and not simply a meme, chalk up another 13(3) violation, as obviously there was no diligence done before the purchase so as to ensure the Fed wasn't buying bonds of insolvent corps nor shielding taxpayers from untenable risks.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

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