Archive - Apr 18, 2010 - Blog entry

Before the SEC announced the charges, Goldman seemed unstoppable. It seemed like even countless tons of water pressure or scores of invading armies could not touch Goldman.

Now, there is a crack ...

Even if the timing of the SEC's announcement was wholly political, tons of public pressure and hordes of lawyers are probably on their way.

Claims GS “controls the wind”

What's the possible impact of the volcano on global trade? That depends. It could be significant.

While the significance of Friday's high volume reversal has yet to be determined, the set up has the making of a market top - the majority of investors are poorly positioned and the precipitating event (i.e., the government's charges against Goldman Sachs) was not foreseen.

Though the Greek push-of-war between the ECB and IMF has been postponed until Wednesday, a new FTSE/ATHEX-CSE Banking index futures contract begins trading on Monday. With the fiscal future of Greece literally hanging in the balance, what could possibly be more fitting in the interim than the launch of a new futures contract containing the words 'Greek' and 'bank' ?

Crude futures ended at their lowest point this month Friday, as investors fled riskier assets after regulators charged Goldman Sachs with fraud. Nonetheless, industry insiders are fully expecting this still intact seasonal pattern: a rise in gas prices in the months ahead during the summer driving season (from April 1 to Sept. 30).

Don't hold your breath on any meaningful financial reform. I know, I am a cynical bastard, but the banksters control the US government, just like they control the Canadian government. It's all smoke & mirrors to appease the masses who are waking up to the fact that the greatest wealth transfer in the history of mankind continues totally unabated.

I don't believe that things happen by accident. It is all orchestrated. My thoughts on the SEC timing re GS.