The FED initiated another POMO (Permanent Open Market Operation) purchase. A POMO Purchase is when the FED buys treasuries from the Primary Dealers (TBTF Banks) too bring onto his balance sheet (aka. Printing Money). Today $7.923 was purchased bringing the total since August 17th 2010 to $90.673 billion dollars. This is the largest POMO purchase since August 17th 2010. We are definitely in accelerated printing mode here.
It is too bad that metals prices tend to be suppressed (by the same banks that are the Primary Dealers btw), otherwise gold and silver would be much higher (no conflict of interest there).
| Operation Date: | 11/15/2010 |
| Operation Type: | Outright Coupon Purchase |
| Release Time: | 10:15 AM |
| Close Time: | 11:00 AM |
| Settlement Date: | 11/16/2010 |
| Maturity/Call Date Range: | 05/31/2016 - 11/15/2017 |
| Total Par Amt Accepted (mlns) : | $7,923 |
| Total Par Amt Submitted (mlns) : | $28,005 |
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