Comments on: Why didn’t the Fed release a statement on the dollar liquidity bailout?

By: Danny_Black

Danny_Black — Tue, 20 Sep 2011 09:25:24 +0000

Ok sorry, been conditioned to article complaining that the Fed is doing some super secret “bailout” that turns out to have been announced on their page.

Anyway given how much the press adds to the volatility of the current markets by distorting noise into some sort of hypothetical signal it is good to see it go the other way.

By: edwardnh

edwardnh — Mon, 19 Sep 2011 21:40:26 +0000

The point of the article completely is that this ‘ccordinated policy trumpeted by Europe and feted by markets with a good size rally was a non-event. The Fed did not issue a press release because they don’t have to.

“the other banks are just a cover.. This policy didn’t have to be announced this way. It was only to calm markets and buy time.”

By: edwardnh

edwardnh — Mon, 19 Sep 2011 21:40:25 +0000

“the other banks are just a cover.. This policy didn’t have to be announced this way. It was only to calm markets and buy time.”

By: Danny_Black

Danny_Black — Mon, 19 Sep 2011 05:48:07 +0000

So basically you are bitching about the fact that the FED is not re-announcing an old swap facility? Is that how we should read your article?

By: edwardnh

edwardnh — Sun, 18 Sep 2011 22:13:56 +0000

Dear RUDE alea,

My friend wrote: “since the swap was already in place and would make no statement.”

I wrote “Second, dollar swap lines are already in place and have been extended. This policy didn’t have to be announced this way.”

If you actually read the article instead of making rude comments, you would see I have addressed that issue about the lines being in place AND extended TWICE.

Edward

By: alea

alea — Sat, 17 Sep 2011 07:59:45 +0000

Dear CLUELESS Ed Harrison:
The current swap program was announced by the fed on june 25, 2009, then extended twice for a year on may 9, 2010 and june 29, 2011, and so is operative until august 1st, 2012. The recent announcement by foreign central banks merely give a schedule for 3 auctions. THERE IS NOTHING NEW TO ANNOUNCE.

By: FifthDecade

FifthDecade — Fri, 16 Sep 2011 23:35:06 +0000

The lack of any release adds credence to my theory that the powers that be want nobody to look too hard at the US situation. Worse fundamentals than the EU, a currency currently at lows against the Euro – despite the current onslaught of speculation and speculators trying to drive down the value of the Euro, and a nasty edge to US right wing politics that cuts the hand that wields it as well as the hopes of those it attacks. I wish it weren’t so, the world needs a strong US.