from Harvey Organ's Daily:
"... The entire world checked to Ben Bernanke today and as I forecasted to you yesterday, he extended operation twist to include the purchase of longer dated bonds and the selling of treasury bonds of three year duration or less. Because the net effect is zero, it does not add to the balance sheet. The Feds still do not state how they can run a deficit of 1.5 trillion dollars per year and with no nation on earth buying these USA treasuries how on earth does the Fed balance sheet stay constant? Greece has a new government and they are now drawing up new demands on Germany which will be flatly rejected. Finland also is asking for extended collateral with respect to the new financing arm the ESM. The Bank of England is also ready for more stimulus over there. ..."