Gee, what perfectly 'coincidental' timing!
- Gold and Silver flash-crash right before the first POMO of 2014.
POMO. Permanent Open Market Operations.
- Short version: The FED holds down the CTRL+P keys.
- Long version: Days the FED directly injects liquidity into the paper markets (excluding bullion markets) using their Primary Dealers as frontmen.
- Legal version: The definition of RICO in an organized crime context.
Monday, 6 January 2014
It's POMO Day!......................from Rico
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1 comment:
Actually it stands for planned open market operations.
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