gfromls Posted March 11, 2008 Share Posted March 11, 2008 FED announce term securities facility, to loan $200 billion to big banks - taking mbs in exchange. BOE statement to follow Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 11, 2008 Share Posted March 11, 2008 FED announce term securities facility, to loan $200 billion to big banks - taking mbs in exchange.BOE statement to follow I knew it would happen. Have consistently suggested that the banks, all of 'em, are skint, insolvent, busted. The global (make that global not US) HPI miracle has been fuelled with about 10 trillion $ that does not exist. Nationalisation of the world banking system. Sounds a bit Biblical doesn't it? 666 and all that............... Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 11, 2008 Author Share Posted March 11, 2008 that's $340 billion from the fed since friday!!!!! Quote Link to comment Share on other sites More sharing options...
drrayjo Posted March 11, 2008 Share Posted March 11, 2008 FTSE loving it The Fed acted in conjunction with the European Central Bank, the Bank of Canada and the Swiss National Bank http://www.cnbc.com/id/23573249 Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 11, 2008 Share Posted March 11, 2008 Nothing like some seriously bad news to help stocks out though. FTSE 100 (FSI:^FTSE) Index Value: 5,727.00 Trade Time: 12:35PM Change: 97.90 (1.74%) Prev Close: 5,629.10 Open: 5,629.10 Day's Range: 5,629.10 - 5,728.40 52wk Range: 5,338.70 - 6,751.70 Or was it the soaring oil prices that sent stocks rising? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 11, 2008 Share Posted March 11, 2008 Mr. Credit bubble just got a massive dose of Grade AAA heroin and is slipping back into a euphoric state of calm and liquidity. Next fix will cost a lot more. Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 11, 2008 Author Share Posted March 11, 2008 (edited) can't find any info on the BOE but they were mentioned when the news broke, as were the BOJ. Edited March 11, 2008 by gfromls Quote Link to comment Share on other sites More sharing options...
kool4caats Posted March 11, 2008 Share Posted March 11, 2008 that's $340 billion from the fed since friday!!!!! I'd be happy with just 1 billion Quote Link to comment Share on other sites More sharing options...
herbert_goon Posted March 11, 2008 Share Posted March 11, 2008 FED announce term securities facility, to loan $200 billion to big banks - taking mbs in exchange.BOE statement to follow Some will be relieved Quote Link to comment Share on other sites More sharing options...
Bardon Posted March 11, 2008 Share Posted March 11, 2008 But no matter how much we may like to brag about our foresight, the fact is that anyone with some common sense could have seen it coming. All you had to do was connect the dots: Dot #1. The credit crunch was threatening to hurt the U.S. economy. Everyone knew that; it was all over the news. Dot #2. The threat to the U.S. economy was prompting the Fed to print money and trash the value of the U.S. dollar. That was also obvious; even hopelessly near-sighted Mr. Magoo could not have missed it. Plus ... Dot #3. The falling value of the dollar would naturally help drive gold, oil and nearly all commodities through the roof. You didn't need 20-20 vision to see that either. So are you surprised that the dollar is in a free-fall and commodities are exploding higher? You shouldn't be. Nor should you be surprised if these same forces gather speed and momentum in the weeks ahead. How do you know? Just connect the dots again ... Dot #1. The Credit Crunch of 2007 has now turned into the Credit Collapse of 2008. As I showed you a moment ago, the credit crisis is broader, deeper and hitting with greater speed. It's not just a future threat to the U.S. economy. It's already shutting down credit markets, erasing tens of thousands of jobs per month, and driving hundreds of thousands out of the labor force entirely. Dot #2. The Fed isn't just printing more money like it did last year. It has deployed entirely new kinds of money creation machines to flood the economy with dollars in far greater volume than ever before. Dot #3. Commodities aren't just hopping along. They're flying into the stratosphere. Quote Link to comment Share on other sites More sharing options...
garybug Posted March 11, 2008 Share Posted March 11, 2008 Something must be afoot, look at the FTSE.. FTSE 100 (FTSE: ^FTSE)Index Value:5,780.70Trade Time:8:51AM ETChange: 151.60 (2.69%)Prev Close:5,629.10Open:5,629.10Day's Range:5629.10 - 5780.7052wk Range:5,338.70 - 6,754.10 Quote Link to comment Share on other sites More sharing options...
A.steve Posted March 11, 2008 Share Posted March 11, 2008 can't find any info on the BOE but they were mentioned when the news broke, as were the BOJ. According to Reuters, it's £10 billion on the 18th - and more next month. http://uk.reuters.com/article/stocksNews/i...A14614920080311 Quote Link to comment Share on other sites More sharing options...
garybug Posted March 11, 2008 Share Posted March 11, 2008 Here it is: http://www.bankofengland.co.uk/publication...ws/2008/017.htm Quote Link to comment Share on other sites More sharing options...
babesagainstmachines Posted March 11, 2008 Share Posted March 11, 2008 http://www.bankofengland.co.uk/publication...ws/2008/017.htm Quote Link to comment Share on other sites More sharing options...
R K Posted March 11, 2008 Share Posted March 11, 2008 (edited) Well that's given the dollar a big kick up the a*se. Euro put in a big spike reversal at 15500. Let's see what the usual suspects do when the smoke clears, but for the moment all those longs are going to get burned pretty hard. Edited March 11, 2008 by Red Kharma Quote Link to comment Share on other sites More sharing options...
Bardon Posted March 11, 2008 Share Posted March 11, 2008 According to Reuters, it's £10 billion on the 18th - and more next month.http://uk.reuters.com/article/stocksNews/i...A14614920080311 Good news for the Brittish Peso Quote Link to comment Share on other sites More sharing options...
ParticleMan Posted March 11, 2008 Share Posted March 11, 2008 Mr. Credit bubble just got a massive dose of Grade AAA heroin and is slipping back into a euphoric state of calm and liquidity. Never trust a junkie (just one fix). And each hit delivers a lower high, and a lower low... Quote Link to comment Share on other sites More sharing options...
_w_ Posted March 11, 2008 Share Posted March 11, 2008 Never trust a junkie (just one fix). And each hit delivers a lower high, and a lower low... Yep. And unless Helicopter Ben's got another syringe up his sleeve I'd be surprise if the high lasts the day. Quote Link to comment Share on other sites More sharing options...
yaakov Posted March 11, 2008 Share Posted March 11, 2008 http://ftalphaville.ft.com/blog/2008/03/11...al-bank-action/ I love the comments from the FT alphaville regulars: # Posted by bsb [report]this is becoming a joke 1. perfect timing so the market can put in a "successful re-test" of the lows from last feb 2. huge buying this morning before the announcement - this was blatantly front-run by those in the know. 3. the TAF was supposed to fix this, that wasnt enough so now we have the TSLF, what if the TSLF is not enough 4. if the Fed is really taking non-agency RMBS as collateral that is the beginning of the end for the Fed. they are already highly leveraged. # Mar 11 13:33Posted by hedgehog [report]looks like Citi or Bears must be going under and this is pre emptive to try and prevent this or avoid complete market collapse on the news. If not then recession wise they now know it's much worse than they thought don't know about slap in the face - oxygen mask and life support seems more appropriate now Quote Link to comment Share on other sites More sharing options...
ParticleMan Posted March 11, 2008 Share Posted March 11, 2008 Maybe the Fed's on a fishing expedition. Wait until there's some serious collatoral pledged in long commodities/ short USD positions and then blow the lot up with a policy reversal. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted March 11, 2008 Share Posted March 11, 2008 I'd be happy with just 1 billion Hey, just $100 million would do me, as long as I could get it into something solid quickly enough.. Quote Link to comment Share on other sites More sharing options...
Methodius Posted March 11, 2008 Share Posted March 11, 2008 This is just the beginning. By the time this is finished, the Federal Reserve will be the de facto owners of 10 trillion dollars of now worthless asset backed securities. They will, in effect, own everything that is worth owning - and that will be precious little - in the smoking and blasted remains of the world's last superpower. There is no crowned saviour waiting for them bow in hand, only financial death riding the pale horse of usery. Quote Link to comment Share on other sites More sharing options...
Injin Posted March 11, 2008 Share Posted March 11, 2008 I'd be happy with just 1 billion Don't worry, you'll be getting it soon. Quote Link to comment Share on other sites More sharing options...
Rich1965 Posted March 11, 2008 Share Posted March 11, 2008 More free money,yippee. We are all going to be rich. Keep those presses rolling. Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted March 11, 2008 Share Posted March 11, 2008 Mr. Credit bubble just got a massive dose of Grade AAA heroin and is slipping back into a euphoric state of calm and liquidity. meanwhile, the rating agencies appear to be drinking methadone by the litre http://www.bloomberg.com/apps/news?pid=206...&refer=home Quote Link to comment Share on other sites More sharing options...
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