I’ve been saying for weeks that Bernanke needed a Syrian War to give him an excuse to not taper. The American people and Vlad Putin put the kabosh on that plan. Soon to retire Ben was left with no choice but to just prove he is a tool for Wall Street and the corporate interests by announcing he has no plans to taper. His goal is to get out of Washington DC in January before the entire thing implodes. He’ll let Yellen or some other idiot take the fall. Ben is a ball-less wonder.
His bosses on Wall Street have begun their ticker tape parade by setting their HFT supercomputers to buy. Only thoughtful people are stepping back to question this surprise move. How bad is the true situation that Bennie can’t even taper by $5 billion per month? The suppression of gold and silver prices by Wall Street and Bennie has been a high priority because rising precious metals prices reveals how bad things are. We now know that Bennie thinks the situation is so dire, he is even willing to let gold and silver go wild. Bennie will inflate and debase until the cows come home.
Gold is up $50 from its lows on the day, or 3.9%
Silver is up 5.8% from its low on the day.
All you plebs who need to fill up your gas tank on a weekly basis will be thrilled to know oil jumped by 2.6% to over $108 a barrel.
Do you think Bennie works for you or Wall Street?
Party on Garth!!!
FOMC Shocker: No Taper
Submitted by Tyler Durden on 09/18/2013 14:01 -0400
- *FED REFRAINS FROM QE TAPER, KEEPS MONTHLY BUYING AT $85 BLN
- *FED: RISE IN MORTGAGE RATES, FISCAL POLICY RESTRAIN GROWTH
- *FED: `TIGHTENING OF FINANCIAL CONDITIONS’ COULD SLOW GROWTH
- *MOST FED OFFICIALS SEE FIRST INTEREST-RATE RISE IN 2015
Pre-FOMC: S&P Futs 1696, VIX , 10Y 2.865%, MTG Spread 72.5bps, USD 81.00, WTI $107.00, Gold $1310
Consensus was for a $6bn taper in TSYs and $3bn taper in MBS