Sh*t Just Got Real: Primary Dealers Called To New York Fed For Emergency Noon Meeting

[JohnQPublic]

Shit Just Got Real: Primary Dealers Called To New York Fed For Emergency Noon Meeting (http://www.zerohedge.com/news/shit-just-got-real-primary-dealers-called-new-york-fed-noon-meeting)


http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 07/29/2011 09:44 -0400

From an email just sent out by Morgan Stanley's David Greenlaw:
The NY Fed just asked primary dealers to come downtown today at noon to meet with Fed and Treasury Dept officials. We expect to hear them outline a contingency plan for next week. Details to follow.

More from Bloomberg which confirms this is not the previously scheduled meeting:

The Treasury has canceled its regularly scheduled individual meetings with bond dealers in favor of the group meeting, according to the people, who declined to be identified because the meeting hasn’t been publicly announced
All 20 primary dealers were invited
Treasury spokesmen in Washington didn’t immediately reply to a request for comment on what will be discussed at the meeting

[Dogman]

It is too frigging late, we are toast. They drove the us off the cliff!


http://theeconomiccollapseblog.com/wp-content/uploads/2010/06/It-Is-Now-Mathematically-Impossible-To-Pay-Off-The-U.S.-National-Debt-300x300.jpg

http://govtslaves.files.wordpress.com/2011/04/economic-collapse-map.jpg?w=594&h=250&crop=1

[DMac]

My bet is on QE3, repackaged in some silly new name.

Either that or BAC is in serious trouble.

[PatColo]

Either that or BAC is in serious trouble.

Bank of America Set to Declare Bankruptcy (http://www.pakalertpress.com/2011/07/20/bank-of-america-set-to-declare-bankruptcy/)

Posted on Pakalert (http://www.pakalertpress.com/author/admin/) on July 20, 2011 // Leave Your Comment (http://www.pakalertpress.com/2011/07/20/bank-of-america-set-to-declare-bankruptcy/#respond)
by Tyler Durden (http://www.zerohedge.com/users/tyler-durden)

[Spectrism]

And the stocks go up!!!

Either there is too much money floating around in some very rich hands with no place else to go, or the bastards controlling the horizontal and vertical attenuation are pumping it away.

[Ponce]

Those who controls the poleticians are the ones getting the money.......so of course there will be more money coming in, no money = no poleticians.

[ximmy]

This has nothing to do with the economy... only the high profit for banksters & their friends must be maintained...

[Sparky]

It's hard to take any of this as being a threat to "the sytem", with bond yields continuing to drift downward toward their all-time lows. That hardly hints of a credit default risk by the U.S.

[oldmansmith]

It's hard to take any of this as being a threat to "the sytem", with bond yields continuing to drift downward toward their all-time lows. That hardly hints of a credit default risk by the U.S.

Agreed, Sparky. If I could take a crayon and make a billion dollars I'd be no risk of default, would I? . Now the VALUE of my currency would be another thing...

[Sparky]

Agreed, Sparky. If I could take a crayon and make a billion dollars I'd be no risk of default, would I? . Now the VALUE of my currency would be another thing...

Exactly. The end game is 10-20 years of serious inflation, starting in earnest in about a year or two.