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Fed's Emergency Meeting With Primary Dealers Ends 

By: capt_nemo in WRGO | Recommend this post (1)
Sat, 30 Jul 11 9:00 AM | 31 view(s)
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Submitted by Tyler Durden on 07/29/2011 - 13:08

From RBS' O'Donnell:

* NY Fed Meeting Over
* No Contingency Plan For Aug 2 Discussed
* No Decision On Next Week Treasury Auctions
* Talks Focused On 'Market Conditions'
* Primary dealers at NY Fed agreed Congress should act quickly to raise debt ceiling

Translation: Tiny Tim has absolutely no idea what he will do on Wednesday, aside from telling CTRL P-dawg to sell the gold-painted Tungsten in Fort Knox of course. At $460/ounce MTU that's not bad good: still about $100 billion $341 million based on today's market prices. Or something. In retrospect, maybe not the best idea.

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http://www.zerohedge.com/news/feds-emergency-meeting-primary-dealers-ends




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