Bernanke's First Words Out Of Bed: "Another Day, Another Chance To K-Y The Dollar"
The dollar is plunging like a rock: Geithner must be on Sesame Street convincing Big Bird that the US has a "strong like bull dollar policy." The man has a busy media propaganda day: The Muppet Show is next, followed by a brief appearance on Space Ghost Coast To Coast. Soon to be Philadelphia-based CNBC is still tentative (CNBC - The first in Pat's and Geno's Propaganda worldwide - mmm mmm, Velveeta).
In other news, here is the only trade that matter: correlation is now 0.999
(2 votes)
on Fri, 11/13/2009 - 11:14
#129770
Get the rally monkey out. Time for a moon shot!
on Fri, 11/13/2009 - 11:17
#129772
Well Sesame Street was the first to embrace "don't ask don't tell" (as regards ernie and bert)". It was only natural that the government would follow.
Seriously, doesn't Geithner remind one of The Count (the irony given the counts role on the show)
on Fri, 11/13/2009 - 11:29
#129791
He reminds me of a Vulcan :-)
on Fri, 11/13/2009 - 12:34
#129855
Beavis, or was it Butthead?
on Fri, 11/13/2009 - 11:16
#129773
Ah, Banana Ben. In ten years we'll all be sitting back in our caves and remembering with longing the days of the idiot Fed Chairman and his uproariously entertaining antics.
on Fri, 11/13/2009 - 11:25
#129784
If we look at the market from a non man-this-is-going-to-hurt-in-the-end perspective, it really is quite impressive how it continues to be popped and propped.
Until yesterday, there was an 8 day run up off of what should have been the start of a real correction. Then we have a slight pull back yesterday, along with some dollar strength. Then today, we get news that the weak dollar doesn't help trade and sentiment sucks. So instead of selling off, we have a beautifully orchestrated pull back in the market, where we will rally from to new highs as the dollar seeks new lows. Awsome.
on Fri, 11/13/2009 - 11:33
#129798
Dixie, absolutely agree. What we view as a healthy correction makes the folks at Treasury and Fed poop their pantaloons. Because once numbers drop below 9000/1000, there's no telling where they stop.
Queue Marvin Hamlisch's score from The Sting. We are witnessing the most sophisticated con game ever devised.
on Fri, 11/13/2009 - 12:12
#129835
What you are witnessing is the ultimate long con. Decades old in its current incarnation, played for thousands of years. It was only through an error in judgement during bubble production that we get to see a glimpse behind the curtain. Currently, the worlds banksters are scrambling with Soros leading the charge to set up the next game using SDRs. They are out of position in relation to the Chinese and India by about 10-20 years. The hope is to convince them to play the fiat money game as an "equal", while plotting their destruction like everyone else they played with.....Asia would do better to set up their own banking system.
on Fri, 11/13/2009 - 11:41
#129804
President's Working Group on Financial Markets = PPT
Obama want rally, Obama get rally.
on Fri, 11/13/2009 - 11:54
#129811
Agreed. How many times since the March lows has the market appeared to teeter on the edge ready to fall into the abyss? On each and every occasion, something triggered another rally. If you look at a daily chart of the S&P you can correlate these dates (July 13 for one example - the Whitney GS call) to a piece of news that changed the direction.
If you are into technicals, you can also see every bearish pattern or candlestick reversal has failed. Granted, they don't always work, but at some point you would expect them to. This has been like a coin coming up heads each and every time.
on Fri, 11/13/2009 - 11:58
#129818
+1; Very well put.
on Fri, 11/13/2009 - 11:37
#129799
Stating that Bernanke has used K-Y while molesting the dollar is probably too generous. By now, the Greenback must be feeling Brokeback.
http://www.urbandictionary.com/define.php?term=brokeback
on Fri, 11/13/2009 - 11:40
#129803
Why are the Jews allowed to run the monetary policies of this country? I dont mind having some but not the whole effin system. I think it should be spread evenly to also include, some Blacks, Asians, Hispanics, etc...some Native Indians would probably do a better, more fair job then these effin clowns.
on Fri, 11/13/2009 - 11:44
#129808
Don't ruin this site you idiot.
on Fri, 11/13/2009 - 12:02
#129824
It's the zionists I'm worried about. Hey, let's craft another round of legislation to gift God's Chosen People with another 10 billion dollar aide package. With all the capital invested in that shitty little pisshole called Israel you'd think we would have converted it into a cash cow by now. Instead it's more like a cow pasture. Watch where you step.
I am Chumbawamba.
on Fri, 11/13/2009 - 12:04
#129826
I just want to be fair. Different perspectives will lead to better ideals. I aint being racist here. So dont call me out as one.
And dont call me an idiot.
on Fri, 11/13/2009 - 12:11
#129832
OK, well use the correct terms them. A Jew is somebody of a specific religious group. If you're talking about Likud supporting Israelis, or some other bugbear of yours that isn't inherently racist you won't attract the ire of external thought police who can clamp down on sites that foster hatred.
I read this blog a lot and I don't want it closed down for attracting KKK types or whoever.
on Fri, 11/13/2009 - 12:22
#129843
Yes, could be worded better, think before I type. Apologies.
on Fri, 11/13/2009 - 19:57
#130356
You have a good attitude about this DS. Practice makes perfect. Cheeky jump my butt yesterday because I did not think before I typed.
on Fri, 11/13/2009 - 12:11
#129833
let's see...dudley, warsh, duke, tarullo...not to mention OBAMA, geithner, summers, romer (don't try to tell me the fed is operating independently at the moment).
maybe you're not an idiot, but your "different perspective" is an unfounded one.
on Fri, 11/13/2009 - 12:38
#129861
Summers? Really? Talk about unfounded.
on Fri, 11/13/2009 - 12:59
#129894
@Divided. Don't you want to blame gays too? Just take a look at Barney Frank, Lindsay Graham, and David Drier.
I suppose you think we need a total hetero like Carrie Prejean gunning our economy:
http://www.funnyordie.com/videos/2ee1077203/carrie-prejean-sex-tape
on Fri, 11/13/2009 - 13:11
#129919
I welcome some gays in every part of the adminstration but when you have one group too well represented, things seem to sway to the intentions of that party. I want a system where democracy is truly functioning and the current system, right now, is not effective and open to a lot of bias. Of course, thats a dream and may require something big to change that.
on Fri, 11/13/2009 - 13:24
#129931
@Divided. Yeah well the "one group too well represented" would be called ===> straight white men who do what the banks tell them to do.
on Fri, 11/13/2009 - 14:18
#130011
It's actually called ethnocentrism, on the surface from a cursory glance it could appear that way. I think he is referring to the banks, and their representatives in government.
Barney Frank should hit on all cylinders for you.
on Fri, 11/13/2009 - 15:22
#130070
I think Barney Frank is a tool. I admire people like Barry Goldwater, Milton Friedman, and Lady Gaga.
Here ya go (6,000,000 views in 3 days) but I doubt you will understand:
http://www.youtube.com/watch?v=ACm9yECwSso
on Fri, 11/13/2009 - 14:03
#129982
Will someone please stuff a sock in his (or her) mouth before he (or she) hurts him (or her) self?
on Fri, 11/13/2009 - 11:59
#129821
We should adopt Islamic banking principles. For that matter, we should adopt Islam as a national religion. Then we could wage holy jihad against the infidels.
I am Chumbawambalalalalalalalalala!!!
on Fri, 11/13/2009 - 12:21
#129842
dirka dirka bernanke jihad
on Fri, 11/13/2009 - 11:55
#129812
Mr. Hand's chimera of currency debacement that masquerades America's wealth exporting machine and is promulgated by our leaders as an exceptional example of America's resiliency.
on Fri, 11/13/2009 - 11:55
#129814
Some trader on a message board said that sovereign CDS showing highest stress levels since March. Anyone else seeing that?
on Fri, 11/13/2009 - 11:59
#129820
Like a rock
I was strong as I could be
like a rock
Nothin’ ever got to me
like a rock
I was somethin’ to see
like a rock
oohhh like a rock
on Fri, 11/13/2009 - 12:35
#129857
God I love cheesesteaks...you know Mark Haines will be happier if CNBC makes the move.
on Fri, 11/13/2009 - 12:41
#129865
ChickenTeriyakiBoy,
It's only a con game if no one is aware of what's going on...and Zerohedge et al, and we, ARE aware.
What's so galling is that despite the fact it's so blatant (Dow dropping 50 points SIX MINUTES before the confidence figure came out today and the ramp up STRAIGHT after release) no one in the corridors of power is doing ANYTHING to stop what will, ultimately, be a serious crash, worse than last/this year's.
DavidC
on Fri, 11/13/2009 - 12:45
#129876
Can someone point me in the direction of some research on the impact of the falling dollar on Asian countires x-China that link their currency to the USD?
on Fri, 11/13/2009 - 12:51
#129884
uhh ... weak US data, worsening trade ... lower GDP ... hwat that got to do with bernanke? muppet
on Fri, 11/13/2009 - 12:52
#129886
trade deficit? confidenc? heloooooooo
on Fri, 11/13/2009 - 12:53
#129887
trade deficit? confidence? heloooooooo
on Fri, 11/13/2009 - 12:58
#129895
I am out of the markets for good. Right now, it is near impossible to trade/invest in a manner than makes sense from a risk-adjusted perspective.
Long/short doesn't work; fundamentals do not work; mean reversion does not either; long only gets killed by the bots by being stopped out regularly like clock work; same goes for going short, only worse.
Efficient capital markets, my arse... entire industries swinging 3-5% intraday on a regular basis; common sense sacrificed at the alter on the FED printing money. It doesn't matter that we are trading over a standard deviation away from the historic median in at least three different normalized valuation metrics that I am aware of...
When a couple of entities obviously know which way the market is heading on a fracking daily basis (98% success rate anybody?) or have the muscle to push it the way they want, it is time to call it quits until things normalize.
The market for the last 150 points on the S&P has been so bizarre to trade, I am sick of funneling my capital to the NY bots and banksters.
I suppose that is the end game when the hedge funds masquerading as commercial banks, with trillion dollar balance sheets to boot, can covertly borrow at 0% and throw the proceeds any direction they want...
on Fri, 11/13/2009 - 15:59
#130106
It's time for a widespread capital strike.
on Fri, 11/13/2009 - 13:00
#129896
Tell me why....
the dollar tanks, so yeah okay the US markets go up, but so do the FTSE the DAX and the Nikkei?
Why bother to trade indices any more, just trade the dollar and forget about companies or anything else, just follow one line moving around and that's all you need to do
on Fri, 11/13/2009 - 13:07
#129905
I'm just wondering when and if the USDX breaks that pivotal 75 mark to the downside and holds. It's dipped a toe from time to time.....
Looks like N. Roubini may have to wait a while longer to see his carry trade bubble theory come to pass. Looks like everyone isn't heading for the exists just yet Dr. Doom.....
on Fri, 11/13/2009 - 14:03
#129981
Well, they kind of are - they are exiting the dollar.
on Fri, 11/13/2009 - 13:07
#129907
Now I see why they issued more UUP shares - so they can be located for borrows.
on Fri, 11/13/2009 - 14:05
#129986
When there is no more house to burn, build more house. Good for the economy, right?
on Fri, 11/13/2009 - 14:14
#130004
Nice, I wonder why nobody else thought of that?
on Fri, 11/13/2009 - 13:09
#129915
once again look at how little Ginnie paper is being bought.
now ask yourself - which market is going to survive a Fed withdrawal from MBS: Fannie, Freddie, or Ginnie's?
we may be at a 95% FHA market within weeks of a Fed MBS withdrawal, presuming it happens (which it won't).
http://www.ny.frb.org/markets/mbs/
on Fri, 11/13/2009 - 13:34
#129945
Just cut to the chase. The General Electric Channel should give Timmy his own teevee program. How about a game show? They could call it "Strong Dollar Policy", where each contestant has to lift an ever increasing pile of money. Last one to suffer a hernia gets to keep the cash. What the hell, they all get to keep the cash!
on Fri, 11/13/2009 - 14:07
#129989
Genos without a doubt. Order in "English Only." -Wait, am I allowed to say that Marla? Well, the owner of Genos won the lawsuit, so I guess, technically, I can. Anyway, "American wit-out."
on Fri, 11/13/2009 - 14:11
#130000
this market is so jumpy to every move of the dollar now, any hint of a move up with dollar will cause a big slide in the markets
on Fri, 11/13/2009 - 14:58
#130049
Pay very particular close attention to just how "mainstream" it has become to question the validity of US dollar reserve currency status. We are entering the next phase of the Fed Babylon the Great propaganda machine...the self-actualization or the pending inevitability of dollar collapse. Do not ever underestimate the vital role of the 'crisis' in the moderation of man's response to external stimuli.
on Fri, 11/13/2009 - 18:41
#130289
Yes, with the authority of the boob (tube) they proclaim on high what the masses should think and it works. There is a small man behind the curtain folks, and he is attempting to soften the audience for change the bankers can believe in.
on Fri, 11/13/2009 - 16:23
#130142
According to the AP, the markets rallied because "investors looked past the sentiment numbers to the earnings" and thus have confidence in the recovery.
They didnt mention the tanking dollar as the one and only catalyst that moves the market lately.
They also characterized the earnings as good, when they were bad except for Disney.
on Fri, 11/13/2009 - 18:44
#130293
We are....a mess. Clearly the worst thread yet. A new low.
Zeros, get your act together.
on Fri, 11/13/2009 - 20:36
#130383
Bernake does not make decisions, he takes orders. Bernanke has nothing to do with the value of the dollar. The oligarchy decides the value of the dollar. The oligarchy is about to revise the value of the dollar.
The oligarchy will stomp gold bugs into the earth. The oligarchy will tell banks to loan money. The oligarchy will increase the interest rates to where they want them.
The oligarchy will tell China man to kiss its grits.
on Fri, 11/13/2009 - 21:08
#130396
increase in interest rates wipes out IR swaps held by the House of Dimon. Not going to happen.
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