Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold"

Submitted by Tyler Durden on 10/29/2014 - 13:22 "Gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments." ... "I don’t think it’s possible" for the Fed to end its easy-money policies in a trouble-free manner. ... "Effective demand is dead in the water" and the effort to boost it via bond buying "has not worked." 

As Fed Pauses Printing, Total World Debt Tops $100 Trillion

Submitted by Tyler Durden on 10/29/2014 - 13:45 If, as Lacy Hunt explains "debt is an increase in current spending in lieu of future spending," then we have some 'un-spending' to do...

FOMC Ends The QE Dream, Keeps "Considerable" Period Hopes Alive - Full Statement Redline

Submitted by Tyler Durden on 10/29/2014 - 14:00 "Steady as she goes" was expected... having kept the "considerable time" dream alive last month, the FOMC ended QE3 on schedule but remained 'data-dependent' on reviving it... (even as Kocherlakota dissented)

• *FED ENDS THIRD ROUND OF QUANTITATIVE EASING AS PLANNED
• *FED SEES `SOLID JOB GAINS' WITH LOWER UNEMPLOYMENT
• *FED REPEATS RATES TO STAY LOW FOR `CONSIDERABLE TIME'

And so now the "flow" has stopped; given that "bond buying" did not work, we are reminded of Alan Greenspan's warning that  "I don’t think it’s possible" for the Fed to end its easy-money policies in a trouble-free manner. Full redline below.

First Sell-Side Responses To FOMC Trickle In: "This Should Be A Risk Off Trade"

Submitted by Tyler Durden on 10/29/2014 - 14:31 "The dove dissenting says it all," trader quips. "Fed comes in with a bit of a Hawkish tilt as it rids of key policy line around labor market..." If they are only fighting inflation now, they have less ability to enact more dovish policy. I think this should be a "risk off" trade.

Why The $1.5 Quadrillion Derivatives Market Will Disintegrate To Worthlessness

from ETF Daily News:
Jeff Nielson: The Corporate media is consistent in one (and only one) respect. It continually engages in self-contradiction. Month after month; these propagandists will assert again and again that “2 + 2 = 5”, and then we will wake up one morning to hear the same pundits assure us that actually “2 + 2 = 3”.
This is the byproduct of serial lying. With any person/entity which spews enormous quantities of lies; it is logically inevitable that many of the newer lies will contradict many of the older lies. The latest example of this concerns the economic dynamic known as deflation.
Read More @ ETFdailyNews.com
 

 

 

Gold Has Everything The Stock Market Wants

by Adam English, Outsider Club:
Oh, how a couple days can change everything.
There really are no winners when the market drops, unless you are into the insane world of shorting stocks in a reckless bull market that loves to find shorts to squeeze.
Yet, I have to admit I got quite a kick out of watching the market collectively freak out two weeks ago.
I wish I could say that there isn’t a smug component to it, but part of it is the vindication of what we have been discussing all year while the “pros” mocked caution and bearish sentiment.
Read More @ OutsiderClub.com

 

USA Today Bureau Chief: Obama Most ‘Dangerous’ President Ever for Media Freedom

by Warner Todd Huston, Breitbart:
USA Today Washington Bureau Chief Susan Page offered some of the sharpest criticism yet of the Obama administration’s violation of the freedom of the press, saying Obama is “more restrictive” and “more dangerous” than any president in history.
Page delivered these comments at a White House Correspondents’ Association (WHCA) seminar on October 25. This is nothing new, of course. Obama has been on the receiving end of heavy criticism over his treatment of the press.
In 2013, for instance, Fox News chief Roger Ailes released a scathing letter criticizing Obama for investigating Fox News reporter James Rosen. Ailes said that Obama and his politicized Department of Justice is “criminalizing the pursuit of investigative journalism.”
Read More @ Breitbart.com

THESE GOVERNMENT AGENCIES WANT YOU IN 401(K)’S. AND HERE’S WHY.

by Paul Seymour, Dollar Vigilante:
I woke up this morning here in the communist-leaning Little Italy which is Buenos Aires, and was hoping to find something to write about, and what did I see? An article entitled – Treasury and IRS Encourage Use of Annuities in 401(k) Plans.
That’s the kind of title that just sets me to bein’ a tad skeptical. Excuse me for being a bit jaded, but these are the guys who over the past few years, have blatantly committed illegal acts, and have no qualms about lying to your elected representatives in order to try and evade prosecution, or much more likely, the proverbial slap on the wrist.
Read More @ DollarVigilante.com