 | Sorry Fraud street bankers, your friends at the Treasury may be limiting your access to the golden goose.
According to a report released by Reuters (http://www.reuters.com/article/2012/05/21/us-usa-treasuries-china-idUSBRE84K11720120521), China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury. This is the Treasury’s first ever direct relationship with a foreign government.
Only certain Wall Street banks can serve as primary dealers of U.S. Treasuries, which will then bid on the government’s behalf at Treasury auctions. The other central banks that are large purchasers of U.S. Treasuries, including the Bank of Japan, continue to use these designated banks as the go between.
It’s the classic example of how Wall Street plays a rigged game where they are the only player so they always win.
On one hand, by bidding directly, China stops the Fraud Street banksters from exploiting their inter-twisted relationship with the Fed. The collusive Wall Street banks can drive up the auction price with their enormous purchasing power in a given Treasury auction.
Unfortunately, giving China direct bidder status may be giving a not-so friendly foreign superpower way too much leverage, as it currently holds $1.17 trillion in U.S. Treasuries.
Food for thought.
Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.
larrylevin@tradingadvantage.com
Trading Advantage
(888) 755-3846  |  Larry Levin's Trading Advantage is a leading investment education firm that empowers traders to achieve and surpass their financial goals. More than 50,000 students have used Larry Levin's proven techniques for powerful results. |
Trading Signals from the Electronic (ES) mini-SP 500 - No “Secret” signals today.
- Algorithm positions (2)
- “Reading the Tape” positions (6)…combined Secret’s, Algo, & “Reading the Tape” total… +6.75
ES 1324.75 / 1313.25
POC... 1325.25
YM 12535 / 12469
NQ 2557.25 / 2537.25
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