Archive - Feb 27, 2013 - Blog entry

If it doesn't go up, it might just go down. 

Why Jamie Dimon is richer than you...

As you all knw, we cannot believe erverything we see or hear, can we? Now if you will excuse me I must be on my way.--Jimi Hendrix

Bernanke gave more testimony on Wednesday emphasizing and defending all Fed policies. He successfully parried all questions about QE and ZIRP risks and made no mention of any policy exit dates. Bulls translation, the printing press will be on “auto” to infinity.

Interesting testimony tidbits were:

“Fed could go some time without sending profits to Treasury,” (Fed is allowed to be a deadbeat).

“Savers will benefit with economic recovery; savers won't get strong returns in a weak economy,” (So not in my lifetime?).

Owners of bank debt were sacrificed

Nuclear Cores and Spent Fuel Pools Have Both Lost Containment

Gold is trading flat today near a one and a half week high hit yesterday as Federal Reserve Chairman Ben Bernanke defended the U.S.  ultra loose monetary policy.

The selloff in gold ETFs in February underscores the weakness in gold sentiment among retail investors that has been prominent recently. 

Bernanke: "None of the things you said are accurate"

Corker: "Oh yes they are"

Abe's honeymoon is over. Read why.