OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Wow! Trump Torches Pelosi

Posted by Maya @ 20:50 on December 17, 2019  

Trump wrote a six-page flamethrower at Pelosi, accusing the Dems of subverting Democracy and attempting a coup against a duly elected President… point by point… just before the House vote is to occur.  What a hornet’s nest!  Zero Hedge has the full letter you can read here:


Remember when Pelosi went ballistic on the reporter who accused her of ‘hating Trump’?   Trump’s letter accused her of same:  “…and you are scarcely concealing your hatred of me, of the Republican Party, and tens of millions of patriotic Americans.

Watch for a mushroom cloud from Pelosi’s office.

Thinking of shorting the stock mkt? Read this. A wall of money from the zfed in March 2008 didn’t prevent the crash

Posted by Richard640 @ 16:01 on December 17, 2019  

New York Fed Plans to Throw $2.93 Trillion at Wall Street’s Trading Houses Over Next Month as New York Times Remains Silent

By Pam Martens and Russ Martens: December 16, 2019 ~ 

New York Fed Headquarters Building in Lower Manhattan

New York Fed Headquarters Building in Lower Manhattan

Last Thursday, December 12, the New York Fed announced that over the next month it would shower the trading houses (primary dealers) on Wall Street with a total of $2.93 trillion in short-term loans. The money is for a Wall Street liquidity crisis that has yet to be explained in credible terms to the American people and yet the New York Times does not appear to have an investigative reporter assigned to investigate what’s really going on just 11 years after those same trading houses blew themselves up in the biggest financial crash since the Great Depression and took the U.S. economy along for the ride.

The $2.93 trillion that the New York Fed will funnel to Wall Street over the next month consists of up to $120 billion each weekday in overnight loans through January 14 and $440 billion in term loans ranging from 3-days to 32 days. In addition, during the last week of the year (on Tuesday, Wednesday and Thursday) the Fed will bump up its overnight loan offerings to $150 billion from $120 billion, thus providing an additional $90 billion that week. 

Adding to the suggestion that liquidity remains tight on Wall Street despite the Fed’s loans, the New York Fed offered a $50 billion 32-day term loan this morning and it was oversubscribed by $4.25 billion.

The Wall Street Journal’s Michael Derby reported this massive new money spigot from the Fed after it was announced last Thursday but he wrote this regarding the source of the problem:

“The apparent cause of that spike was a large tax payment date and settlements for Treasury debt auctions that affect how much money was available in the banking system.” 

That was the official-speak from the Federal Reserve and relates to what happened on September 17. It does not explain why the Fed has had to continue throwing hundreds of billions of dollars each week at Wall Street’s trading houses after those corporate tax payments and Treasury auctions were long out of the picture.

Would the Federal Reserve, the central bank of the United States, actually lie to the American people? If withholding material facts from the American people constitutes a lie, then yes, the Federal Reserve has a troubled history.

In the leadup to the financial collapse on Wall Street in September 2008, the Fed created in March of that year a lending program very similar to what it is doing today. It called it the Single Tranche Open Market Operation (ST OMO) and attempted to pass it off as part of its routine open market operations. But when the Levy Economics Institute took a hard look at where the ST OMO money went, it found that “77 percent ($657.91 billion) of all transactions were conducted with foreign-based institutions.” The largest of those were Credit Suisse of Switzerland which received 30.3 percent of the funds; Germany’s Deutsche Bank, which borrowed 11.8 percent of the money; and France’s BNP Paribas, which took down 11.3 percent of the funds borrowed.

According to data compiled by the Levy Economics Institute, the Fed’s bailout of Wall Street during the financial crisis amounted to a staggering $29 trillion (including the central bank liquidity swap lines, CBLS) – a sum that neither the American people nor Congress would learn about until years after the loans had been made and a multi-year court battle by the Fed to suppress the information had been won by media outlets.

The largest amounts of the $29 trillion did not go to commercial banks to shore up the U.S. economy through consumer loan relief or business loans. It went to three of the largest trading houses on Wall Street. Citigroup received $2.65 trillion; Merrill Lynch received $2.43 trillion; and Morgan Stanley received $2.27 trillion. (See page 33 at this link.) The fourth largest was not even a bank or Wall Street firm. It was AIG, a large insurance company that Wall Street’s trading houses had buried as the counterparty to their derivative bets. AIG got a cool $1 trillion in loans from the Fed.

The chart below suggests that today’s Fed loans, which are not going to commercial banks but to the trading units of those banks, are being used to artificially prop up the stock market. The Dow Jones Industrial Average has mounted a rally since the Fed turned on its money spigot on September 17. (How else can you have a stock rally in the midst of a liquidity crisis on Wall Street?) Instead of performing its mandate as a lender of last resort to the commercial banks of the U.S., the New York Fed seems to be settling into its assumed role as the stock market’s lender of last resort to facilitate a liquidity exit ramp for the one percent who own the bulk of the stock market.


Posted by Maddog @ 14:43 on December 17, 2019  

You’ll get that SM sell off, but God knows when…..I think the catalyst will be all this climate change bull, at some point loading all these non productive costs onto the SM’s back, will break it…..

In the west the last great hold out is the Donald, all other politicians are paid for, so I see little that will stop it….the US’s best hope is that Europe falls apart economically, before the Donald’s term runs out…if not then the next president in 2025 will almost certainly go with it.

Good Presentation by Mike Maloney

Posted by silverngold @ 13:55 on December 17, 2019  

Just like technicals and fundamentals haven’t mattered for years extreme bullish sentiment hasn’t been predictive, either

Posted by Richard640 @ 12:48 on December 17, 2019  

Suddenly Nobody Is Bearish Anymore: Managers Of $745BN In AUM See Biggest Jump In Optimism On Record

Re part of 10:43 “We live in a debt based economy” and Banks are concerned

Posted by Mr.Copper @ 12:47 on December 17, 2019  

Shown: “A healthy financial system would be able to sustain debt repayments through organic growth”

Revised: A healthy financial US Consumer would be able to sustain debt repayments through organic growth in pay increases to non union, private sector workforce.

The US Gov’t and bankers, for their own benefit, should declare a minimum wage NOT stated in US Dollars, but stated in…

#1 Price, monthly, cost of a small studio apartment.

#2 Price, or value of a 10 year car, and related repairs.

#3 Price, weekly, supply of food, grocery needs.

#4 Price or cost of 15-20 gallons of gas, weekly.

#5 On top of above, an extra 10% to cover recreation and add savings.

The above would naturally be different in every state in the USA.

Copy paste the above and fill in the answers in your county or state.

P.S. The old rule of thumb was your weekly pay should cover your monthly rent. So in the N.Y.C. suburbs minimum weekly pay should be $1,000/week or $25/hour S/B minimum wage.

And don’t tell me about a McDonalds burger flipper. They work harder than a mailman, and look at the pay difference. I get amused when I see a well paid grown men deliver unwanted circulars to my mailbox.


Posted by ipso facto @ 11:09 on December 17, 2019  

if anyone else has problems with Ameritrade’s Think or Swim program not showing the highest bid that you have put in and instead showing lower bids from someone else. Is there some reason for this?

PS Have been trying to call them for 30 mins without getting through. That’s some great customer service!


Posted by Richard640 @ 10:50 on December 17, 2019  


“it would helpful to know which major companies
would be harmed if rates went up 2 pct”

The answer is…all of them.

Look at Q4 2018 20 pct sell off – resulting from Fed increase from 2 pct to 3 pct.

Posted by Richard640 @ 10:45 on December 17, 2019  

The working class would be better off with 10% mortgages (like in the good old days) instead of 3.5% mortgages? Do tell….

  • Dec 12, 2019 at 11:53 pm

    In SF, it would be better off with being able to buy a $250K house instead of paying $1.5MM for the same house.

Well shux

Posted by Buygold @ 10:43 on December 17, 2019  

They’re getting our shares again on light volume. pretty easy to push us around just to make sure that all market participants understand that there are “no problems” out there.

Repocalypse is not an issue. Evrything is under control. Tons of liquidity is sloshing around to cover everything and ease any and all market concerns.

Gotta love it.

A sagacious reader writes=

Posted by Richard640 @ 10:43 on December 17, 2019  
Wisdom Seeker 
Dec 12, 2019 at 12:51 pm

It doesn’t matter if the European and US Central Banks are unhappy with ZIRP/NIRP. They have no real choice, being locked into the global game of Credit Chicken with Japan, which is addicted to ZIRP, and China which is one prick away from an epic credit-bubble deflation. And they are also constrained by domestic forces – European economy is addicted to NIRP already. The US Fed tried to turn away from the epic chicken crash with the rate hikes, but couldn’t go it alone. 

A healthy financial system would be able to sustain debt repayments through organic growth without requiring credit increases above the rate of GDP increase. The fact that we no longer live in such a world is telltale evidence that the “bezzle” (accumulated bad debt and unrecognized fraud) is historically huge (consistent with the increasingly visible corruption).

We live in a debt based economy. The entire economy is based on borrowed money. This creates a debt cycle, as people can only borrow a finite amount of money before they reach a point where they can no longer service their debts.

This cycle is typically about 10 years, and we are now past due for the correction. We are seeing the beginnings of the end though as sub prime debt delinquencies and default are steadily rising. Sub prime is the canary in the coal mine. The FED knows this and is now taking desperate measures to delay the inevitable.


Posted by Buygold @ 9:48 on December 17, 2019  

I’ve been avoiding the SA miners like the plague, but GFI is near it 52 week high going into year end.

Anyone own or follow that one?

Course, it was a $28 stock back in the early 2000’s….


Posted by Buygold @ 9:43 on December 17, 2019  

Yeah, liquidity appears to be winning the day. I really wonder, despite how much the Demonrats hate Trump whether the Globalists can afford to give up the Stock and Bond markets to blame Trump as the ZH reader suggests.

If the market goes, everything goes, especially pensions.

Interesting times, we had some good economic data today and pm’s didn’t get monkey hammered for some reason.

Still hoping for a few good months of rally in pm’s and shares and if we’re really lucky, we get a repeat of 2000-01′

Everyday this index is up strongly–it’s a global rally

Posted by Richard640 @ 8:50 on December 17, 2019  


Buygold–the whole world has adopted U.S. financialization–even some African countries that don’t even

Posted by Richard640 @ 8:46 on December 17, 2019  

have an economy!!  Wolanchuks original thesis–he introduced back in the late 1980s–of the fall of communism/socialism and recognition of capitalism–is still valid and has a LONNNNNNNG way to go…the election of Boris Johnson may have reinvigorated this thesis…stock markets have been fueled by CB money printing…but there is also a fundamental argument for further growth as capitalism matures in many still developing countries…for 11 years the u.s. has sucessfully operated a perpetual motion machine…G*d only knows how long they csan keep it going


A ZH READER==We are in the final stages of financial   musical chairs . The Fed  keeps  plugging  $billions into the juke box to keep the
music playing . Come on fellas we will pay for a few more songs .  No  problem  lots of chairs for everyone .
Just got to get past the election……. then we can blame it all on Trump . 
   The Democrats are being cavalier because they have no electable candidate and they know the economy is long overdue
for a correction  . The lights are flashing .  It is the only way they get a triple crown and can pursue their globalist agenda .  
The banking system should have been overhauled in 2008 and wasn’t but it’s a joint effort . 
           Banks , the Fed and politicians all playing with $trillions in never to be repaid debt while MOM and POP middle class get
absolutely screwed . 

Morning Maddog, R640, RNO

Posted by Buygold @ 8:12 on December 17, 2019  

Are there cracks in the foundation?

R640 – one thing I do agree with is that the only thing that matters is liquidity – it makes people rich. A lesson I failed to learn in my early investing years that has cost me dearly.

Now the kings of money are flooding the system with liquidity to prevent the Repocalypse and it seems to be working. I just wonder if it has an end. Why is it just year end? Why not in the new year too?

Anyhoo, feels like there’s some fear in the air and hopefully, pm’s will be the beneficiary.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.