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XMFSinchiruna (27.97)

Here Comes the Printing Press

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September 24, 2010 – Comments (6)

Sometimes a picture tells a trillion words. Look at the magnitude of the sell-off in recent weeks!

6 Comments – Post Your Own

#1) On September 24, 2010 at 9:56 AM, outoffocus (23.59) wrote:

Hey Chris,

Is it possible you can pull that pic up from another website? I cannot view it because I my job most likely blocked the website.

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#2) On September 24, 2010 at 10:20 AM, silverminer (31.38) wrote:

Strange ... seems to have disappeared. :) Let me try posting again.

{And then it reappeared while previweing this comment}. Go figure.

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#3) On September 24, 2010 at 11:09 AM, GeneralDemon (27.72) wrote:

How is this calculated? Is this the FED buying back existing paper or are the central bankers just not buying any new paper and letting held bills or notes mature?

I always thought that the secondary market was so opaque that no one can tell who owns what.

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#4) On September 24, 2010 at 12:15 PM, XMFSinchiruna (27.97) wrote:

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#5) On September 24, 2010 at 2:26 PM, silverminer (31.38) wrote:

I bleieve the numbers that Dan Norcini used come straight from the NY Fed, but I am not 100% sure.

http://jsmineset.com/2010/09/16/central-banks-dump-57-billion-of-us-agency-debt/

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#6) On September 25, 2010 at 12:30 AM, umps15 (56.23) wrote:

TMFSinchiruna, what do you make of the graph on #4?

Doesn't that say the short positions cannot possibly be made good on? I mean 110 - 160 days of production? So a third of the year, gold producer will make gold just to cover short positions?

That just doesn't sound right.. and that is just from the 8 largest traders. Which mean that these 8 traders are not really "traders" as in your next door neighbor that trades on etrade in his underpants.. They are giant investment banks. Why on earth would they take up such a massive position. They're certainly not dummies and there is no way that they are on the losing end of that deal. 

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