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Dollar Plummets, Market Surges, Rinse, Repeat

Tyler Durden's picture




 

Is today day three of the Bernanke testimony? Because the dollar just plunged as if the Chairsatan was out there somewhere, lurking, once again, guaranteeing the death of the US currency any minute now. In the meantime stocks are going absolutely insane, even though with oil over $100, GDP estimates and EPS forecasts will have no choice but to be whacked. That said, news of any nature are irrelevant: all that matters is momentum. Remember: momentum inducing "market bandits" are vital to efficient markets. Lastly, the USS Enterprise is slowly making its way to Libya.

 

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Thu, 03/03/2011 - 10:47 | 1014751 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

King dollar!

Thu, 03/03/2011 - 10:51 | 1014770 bankrupt JPM bu...
bankrupt JPM buy silver's picture

gold silver down with it...makes sence

 

www.silvergoldsilver.blogspot.com

Thu, 03/03/2011 - 11:08 | 1014780 DaveyJones
DaveyJones's picture

off with his head

Stephen King?

There is no king who has not had a slave among his ancestors, and no slave who has not had a king among his. - H. Keller Authority forgets a dying king - Tennyson A king realizing his incompetence can either delegate or abdicate his duties - M. Dietrich I was king of the mountain for a long time, well I don't want that no more - W. Jennings
Thu, 03/03/2011 - 10:55 | 1014783 johnQpublic
johnQpublic's picture

king nothing more like

Thu, 03/03/2011 - 13:57 | 1015564 snowball777
snowball777's picture

Here King. Here King.

Thu, 03/03/2011 - 10:48 | 1014753 HamyWanger
HamyWanger's picture

Where is my friend RobotTrader? 

I haven't seen him in a week. 

Thu, 03/03/2011 - 10:49 | 1014758 Richard Head
Richard Head's picture

Meth head, the booger eater, and billy the tard have taken up his slack.

Thu, 03/03/2011 - 11:07 | 1014822 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He was calling a top, and his rhetoric was tired.

I got you Robo...

THIS IS A CORPORATE TAKEOVER, snitchez!

Thu, 03/03/2011 - 11:02 | 1014810 Robot Traders Mom
Robot Traders Mom's picture

Probably in your bed.

Thu, 03/03/2011 - 11:15 | 1014857 lieutenantjohnchard
lieutenantjohnchard's picture

the catfish mouth robo uber bull bear wannabe said he was coming out of "retirement" to give back to the world that made him so wealthy by taking a day job.

Thu, 03/03/2011 - 11:28 | 1014890 Samsonov
Samsonov's picture

How quaint that the know-it-alls on this page are lonely without the last commenter who had anything original to say.  Congratulations, you have achieved 100% conformity for this site.

Thu, 03/03/2011 - 11:33 | 1014911 lieutenantjohnchard
lieutenantjohnchard's picture

i for one am so thankful for the catfish mouth's originality which suggests that:

1) there is no jpm short position in silver. it's a myth.

2) there's a huge jpm short position in silver. pigmen always win.

3) oil will crash.

4) oil will sky to the moon.

5) don't fight the fed.

6) short the market. fight the fed.

7) the gold silver rally is over, done, caput, deal with it.

8) gold hits new all time high.

and these original thoughts are within the past month.

Thu, 03/03/2011 - 11:33 | 1014916 tmosley
tmosley's picture

There are plenty of people with a wide variety of opinions here.  We don't need idiots who can't predict the date of the next Tuesday here telling us sweet little lies based on skittle farting unicorn delusions.

Thu, 03/03/2011 - 11:47 | 1014965 Samsonov
Samsonov's picture

Well, we certainly can't tolerate delusions on this site.  Ha ha.  His thought-crime was taking a realistic view of the market and, gasp, actually seeing the stock market as having profit potential.  That's why he'll be down the memory hole along with all the other who dared to post similar views.

Thu, 03/03/2011 - 14:24 | 1015692 prophet_banker
prophet_banker's picture

at your own risk, or should i say peril, in making $ in the market

 

 

http://video.google.com/videoplay?docid=4490541725797746038#

 

 

phantom shares must see 25 minute vid

Thu, 03/03/2011 - 14:29 | 1015704 akak
akak's picture

No, his "crime" lay in being a smug and shallow RoboGogoMomoTotoDodo.

Thu, 03/03/2011 - 13:02 | 1015333 glenlloyd
glenlloyd's picture

A) They're not your friends, and 2) Get the fuck out of here.

Thu, 03/03/2011 - 10:47 | 1014755 FoieGras
FoieGras's picture

Plunging? DX Futs down 0.16% for the day on my screen.

Thu, 03/03/2011 - 10:58 | 1014792 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yes, no one worry about the reserve currencie.  It is backed by Crespie Cream doughnuts and No. 7 whiskey.  Surely never to fail as a risk asset, the dollar is made from the paper of thousand year old redwoods  Move along.

Thu, 03/03/2011 - 11:08 | 1014830 AccreditedEYE
AccreditedEYE's picture

LOL! Nice Lennon. Seriously though kids, DXY coming up on serious support right above 70... plunge that area and we are in uncharted territory. :(   Did someone say gold-back Yuan? (I better start exchanging my bond portfolio over to Dim Sum bitchez!)

Thu, 03/03/2011 - 11:17 | 1014861 jus_lite_reading
jus_lite_reading's picture

The Fed's only madate is to keep the stock market propped up and people to "believe" there is a recovery... if the dollar needs to die to save Wall Street, then so be it.

I will say, tensions are rising folks. We're above the threshold for a revolution.

Thu, 03/03/2011 - 12:54 | 1015297 cranky-old-geezer
cranky-old-geezer's picture

Bob Chapman says 71.18 is the edge of the cliff.

No opinion myself, just reporting it.

Thu, 03/03/2011 - 12:47 | 1015226 slewie the pi-rat
slewie the pi-rat's picture

 

i had the same problem here, fois gras.  i've got the goldseek home page, with its time delays, but the dollar is UP against the AUD, GBP, CAD, CNY, INR, JPY, NZD, ZAR, and CHF,

but down v. the EUR and down a hair, overall.

i guess Tyler wants us to call him a moronic shitforbrained asswipe, again this morning.  but i'm NOT gonna fall for that cheap shot, today.  somebody else ge ahead for a change, ok?

dollar is DOWN almost X the board on food commodities, with The Precious taking paws.

risk on!!! especially for kids of poor parents, globally.

local news in norcal this fine morn included continued bewilderment and fingerpointing CYA regarding the San Bruno gas explosion last year, here:

Fire Chief Unaware Of Gas Line Before Explosion - News Story ... and here: Deadly gas explosion is focus of NTSB hearing - News

as well as the trials of trying to run a train:

Public to comment on Caltrain closure plans clusterfick city, or what?

lQQks like the resident fukturds of trains are gonna close stations, cut back sevices, and raise fares, and probably vote themselves pay and pension increases for next year, too!

Thu, 03/03/2011 - 16:21 | 1016222 playitcool
playitcool's picture

Caltrain CEO was making 400k a year for playing with choochoo trains. I'll do same job for 100k. 

Thu, 03/03/2011 - 10:48 | 1014756 slow_roast
slow_roast's picture

Best BTFD in gold and silver for a long time...well, last Thursday anyway!  Gold looking like a shiny prince that just needs to be picked up off the ground here.

Thu, 03/03/2011 - 10:50 | 1014764 unwashedmass
unwashedmass's picture

trichet threatens rate increase

gold & silver go down... a bit

the dollar tanks hard

the US stock market goes up

goes up further tomorrow on the "good" fake employment news

Bernanke gets his out to stop QE (Gross was the last straw, his defection.....)

plus is if the ME explodes over the weekend -- market then goes down not on Bennie Boy but due to ME in the mainstream media,

dollar edges back from the abyss for a week or two

JPM gets to savage gold & silver under the air cover, and cover some of its shorts......

Thu, 03/03/2011 - 10:51 | 1014765 Dangertime
Dangertime's picture

Everything at this point looks pretty frothy with the exception of the USD. 

I think it's time to go to cash for a little bit.  Commodities will almost certainly provide a better buying opportunity in the next few months.

Thu, 03/03/2011 - 10:59 | 1014800 Seymour Butt
Seymour Butt's picture

Frothy as in Santorum's frothy?

Thu, 03/03/2011 - 11:04 | 1014813 Dangertime
Dangertime's picture

I do not doubt that someone got stuck with that froth in this engineered run-up.

Thu, 03/03/2011 - 11:52 | 1014993 Blankman
Blankman's picture

Danger - I went to cash last week. I expect the middle east to get further out of hand and a significant drop in stocks. The foil to my plan is the HFT's ignoring half the world on fire and keeping the stocks on an artificial rise. No HFT the dow is at 6000.

Captcha is run by HFT:

49 plus ___ is -29

Math question cannot be longer than 2 characters but is currently 3

I'm no math whiz but How do I solve this if I can't have more than 2 characters. I am humbled by Captcha.

Thu, 03/03/2011 - 16:22 | 1016218 slewie the pi-rat
slewie the pi-rat's picture

try telling tyler to drop dead.

Thu, 03/03/2011 - 23:57 | 1017503 StychoKiller
StychoKiller's picture

Are you a human or a bot?  Enter the correct answer and "save" anyway!

Thu, 03/03/2011 - 10:54 | 1014779 DonnieD
DonnieD's picture

More great news for the middle class as Immelt and group are sporting a perpetual boner on these developments.

Thu, 03/03/2011 - 10:55 | 1014781 The Count
The Count's picture

any moment now... 

pop goes the weasel...

 

Thu, 03/03/2011 - 12:04 | 1015044 Battleaxe
Battleaxe's picture

Everyone knows that we are banging into major support/resistance lines in the dollar/gold/dow/s&p/..... Everyone including the fed and foreign central banks. They're trying to put the pedal down to try to blow through the lines. Will they be able to keep this virtual reality bull market going?????

Thu, 03/03/2011 - 10:55 | 1014782 Oh regional Indian
Oh regional Indian's picture

This is the new normal. There are no correlations anymore. Not the way we knew them in the good old days (like last week?).

This is the end game, no rules time we were forseeing at th eend of last year, when nothing was making sense. Now, it's all nonsense.

only gut trades will work. 

And it sure looks like the dollar is being hammered for a purpose. 

Cui bono?

ORI

http://aadivaahan.wordpress.com/2011/02/25/wisdom-for-warriors-7/

Thu, 03/03/2011 - 16:22 | 1016228 slewie the pi-rat
slewie the pi-rat's picture

so the freakin goobermint checks don't bounce?

Thu, 03/03/2011 - 10:57 | 1014785 Racer
Racer's picture

ah but that was in days of yore, when fundamentals 'mattered'

Thu, 03/03/2011 - 11:01 | 1014802 Johnny Lawrence
Johnny Lawrence's picture

At some point they will matter again...there are no "new eras" when it comes to the market.  There will be bubbles long after this one is popped.

Thu, 03/03/2011 - 10:56 | 1014786 Long-John-Silver
Long-John-Silver's picture

USS Enterprise is slowly making its way to Libya

At least 2 Aircraft carriers will be required for the establish a no fly zone over Libya, and that's pushing the human endurance factor for the pilots involved. Let's also not forget that massive air strikes on Anti-air missile batteries will be required before a no fly zone can be instituted. I hope everyone notes it's the democrats that are pushing the start of a third front in the Middle East.

Thu, 03/03/2011 - 11:04 | 1014817 Pants McPants
Pants McPants's picture

You mention massive strikes on anti-air missiles like its a bad thing.  And I'm certain those F/A-18 pilots are more than happy to go without the mandatory 8 hours of "crew rest" required to be back in the air.  When democracy and freedom call, who are they to push Libyans to voicemail?

On a serious note, it doesn't matter which party calls for a third front.  You are either a statist or you are not a statist.  The third, fourth, fifth, etc. fronts were bound to happen, hell or high water (preferably both).  Are you familiar with Randolph Bourne's great quote, "War is the health of the state" ? 

Thu, 03/03/2011 - 11:20 | 1014880 KCMLO
KCMLO's picture

FWIW, the Air Force and Navy have no problem busting crew rest rules when they need to.  Being a former enlisted aviator I can attest to this.  Thankfully carrier operations for fighters are relatively short sorties, it's the support aircraft (like out of RAF Mildenhall; UK Souda Bay, Crete; Ramstein AFB, GE) that really have to worry about crew rest in this scenario.  When we did it in Kosovo my days/nights were basically brief, fly, debrief, sleep, brief, fly, debrief, sleep.  Crew rest becomes a non-issue when you're on that cycle considering the days just blur together.

Thu, 03/03/2011 - 11:53 | 1014998 piceridu
piceridu's picture

 

Thanks for your input...just curious, how many bombs did you drop on those non English speakers? Saw the devastation firsthand from "Smart Bomb" precision accuracy. Spent 2 years in the Balkans and talked to a lot moms and dads that lost children in that Lewinsky bomb fest.

 

Thu, 03/03/2011 - 11:07 | 1014828 Shameful
Shameful's picture

There is no Democrats, there is no Republicans.  There is only two teams of looters with nearly identical ideology taking turns at getting payed off for enabling a pillage.  It's only the raw grade A stupidity of Americans that let this game continue.

3rd front of war, why not?  When you already totally insolvent whats more debt?  Hey maybe we'll get more gov employment and the youth of America can go kill people overseas instead of learning about why they can't find work and are buried in student loan debt.

Thu, 03/03/2011 - 12:48 | 1015276 Almost Solvent
Almost Solvent's picture

+WW3

Fri, 03/04/2011 - 10:49 | 1018368 DaveyJones
DaveyJones's picture

They can discharge their guns but not their loans

Thu, 03/03/2011 - 11:09 | 1014833 Muir
Muir's picture

Oh, PLEASE!

 

Democrat, schedemocratz.

Think JPM, Chase and your intelligence should rise.

 

Don't be a fool!

 

--

p.s. good comment unnecessarily politicized.

Thu, 03/03/2011 - 12:04 | 1015049 SheepDog-One
SheepDog-One's picture

Lets also not forget the Libya is bombing its own refineries and oil fields as we speak.

Thu, 03/03/2011 - 10:58 | 1014791 John Law Lives
John Law Lives's picture

It all makes perfect sense:

A surge in commodity prices is "good".  It is a result from strength in demand...

A quick decline in oil prices (i.e. WTI) is "good" (despite the price surge which we have established is "good"), because it gives consumers a little more pocket change...

Revolution in the ME and NA is "good".  It is proof of democracy on the horizon...

Hugo Chavez's peace plan is "good", because the end to the revolution can only lead to "good" things...

Printing money and subsidizing massive deficit spending is "good" because the Ben Bernank is a "good" guy...

It's all "good", so BTFD.

P.S. Ponzi economy!!!

 

 

Thu, 03/03/2011 - 11:12 | 1014845 Cash_is_Trash
Cash_is_Trash's picture

Didn't Bernie Maddoff elaborate on your ponzi point exactly?

Only organized crime like government can do something so spectacular.

Thu, 03/03/2011 - 11:16 | 1014867 I Am The Unknow...
I Am The Unknown Comic's picture

That's right John Law....and don't forget that stocks will get a big boost from the new Ipad2 as that product alone will surely boost GDP by at least 1% over current expectations.

Oh, and in case anybody needed any convincing, no less than the Editor-In-Chief of Marketwatch published this nice little gem that would make even Goebbles proud: http://www.marketwatch.com/story/oil-price-surge-not-a-recovery-killer-2011-03-03 It clearly explains why rising oil prices could be good for stocks.  I guess the Chief had to do this propaganda piece because nobody else could spin it.  This is the Wall St. Journal for fuck's sake!  

But wait, there's more....somehow the ECB announcing it "maybe could" raise rates is also good for stocks, as European AND US stocks are reportedly up on this news. 

...and just when it seems our media couldn't get any worse, Shillary Cunton went before Congress yesterday and, in her official role as Secretary of State, declared a "media war" and has requested funding to fight it...she names enemies such as RT, Al-Jazeera, some Asian channel I've never heard of, etc....I'm surprised ZH wasn't named.  Nevermind that we have 1rst Amendment protection of free speech and free press.  Constitution?  What constitution? 

Where am I?  What country is this?  What the hell is going on?  Did aliens drug us and transport us all to a cloned planet Earth?  I want to go home!

Thu, 03/03/2011 - 12:16 | 1015125 taxpayer102
taxpayer102's picture

Didn't know Hillary was asking for more money to fight a "media war". But she is ex-officio of the Broadcast Board of Governors bbg.gov chaired by former CNN president Walter Issacson and staffed by other MSM connected types.  BBG is apparently the non-military US propaganda agency tasked with convincing people in 59 languages to protest against their government by demanding US style "democracy".

Thu, 03/03/2011 - 13:16 | 1015401 HoofHearted
HoofHearted's picture

Where am I? Where are we going? And why am I in this handbasket?

Seriously, they can't shut down RT. Where would we get a fix of that lovable crazy man, Max Keiser. Anyone defending the proposition that "Blythe Masters is a witch" has got to be okay in my book.

Thu, 03/03/2011 - 13:23 | 1015424 I Am The Unknow...
I Am The Unknown Comic's picture

+1

Thu, 03/03/2011 - 10:59 | 1014796 Pants McPants
Pants McPants's picture

Standing by for the wealth effect......any minute now.......

Thu, 03/03/2011 - 11:03 | 1014816 jus_lite_reading
jus_lite_reading's picture

Oh, you didn't feel the wealth effect yet? Insiders sure did last month with a record $5.4 BILLION in stock sales.

By the way, anyone watching the silver calls?

Thu, 03/03/2011 - 11:00 | 1014799 dick cheneys ghost
dick cheneys ghost's picture

thought you might enjoy this story........US to supply coins to Zimbabwe....

 

http://nakedempire.wordpress.com/

Thu, 03/03/2011 - 11:07 | 1014803 falak pema
falak pema's picture

There must be a correlation between dollar dismay and market euphoria. Is it QE-3 expectation? The snake in the grass is the Libyan caper that goes on as its poison for market as it is for QE-forever. I wonder when Alice will traverse the mirror and come out of Wonderland. I have a feeling that the ongoing ME oil spike trick has got her all bemused in speechless incertitude. Look how Lenina Crown talks of "losing the information war" to Al-Jazeera. As if information is "war" and not the dissemination of truth. Another twist to the turn of War being "diplomacy by other means". Good ole KL. She, Lenina, is so obsessed to keep the geopolitical hold on Saudi oil she will do anything. Even dance the tango with Chavez!

He must be laughing in his  "burnous", the lord of Tripoli, Q, of land of cheap sweet oil.

Thu, 03/03/2011 - 11:04 | 1014812 Cognitive Dissonance
Cognitive Dissonance's picture

The only thing back stopping the dollar. And it's taking on water fast.

Thu, 03/03/2011 - 11:08 | 1014829 jus_lite_reading
jus_lite_reading's picture

As I said over 2 years ago, whoever has the biggest guns wins. That is what the whole Bretton Woods was about. Take the gold standard away and rely solely on big, bigger and biggest guns. If someone is pointing a gun to your head and says, "lend me X amount and I 'll give you an IOU" who will refuse?

If Dr. Deficit wants to devalue the dollar 50% and tell bondholders to Fu*k off then he can. Why? Who will step up to the bully in the school yard when everyone else is at least 50% smaller but 100% smarter? hmmmmm

Thu, 03/03/2011 - 11:12 | 1014840 DaveyJones
DaveyJones's picture

Empires fall because they rot from inside. An army is not an economy 

Thu, 03/03/2011 - 11:21 | 1014886 jus_lite_reading
jus_lite_reading's picture

100% correct. The US has been rotting like "wormwood" since 2000. Corruption is the norm. The US will fall. Sorry to smash everyone's patriotic hopes, but it becomes a self-fulfilling prophecy.

We we pick up the pieces, we will never allow too big to fail anything and the political structure will be void of any connections with commercialism. No more Goldman Sachs-Fed-Congress ties...

Thu, 03/03/2011 - 11:56 | 1015011 karzai_luver
karzai_luver's picture

We will waste you and anyone that ever showed any favor towards you.

We have done it before and can do it again.

 

Do not deceive yourself son, you are as dust on my boots.

 

Thu, 03/03/2011 - 14:13 | 1015608 edotabin
edotabin's picture

It isn't patriotic hopes that are troubling me. I am looking into the future and not really loving the replacement options. The difference between the US and previous empires was that as long as you played the game everyone was ok and they threw you a bone or two.

I would challenge anyone from the "west" who is of average means to go and live in China as an "average" Chinese person.

 

Thu, 03/03/2011 - 14:34 | 1015745 prophet_banker
prophet_banker's picture

in the game of musical chairs for central bankers, nobody really looses til the music stops, and the pied piper's profit from the music

Thu, 03/03/2011 - 11:12 | 1014844 Cognitive Dissonance
Thu, 03/03/2011 - 11:17 | 1014853 falak pema
falak pema's picture

doen't work when the creditor country says "youfuckoffee too" and walks away with his cheap stuff. Selling/buying to others. Then dumps his USD to FED and asks for refund in gold...No refund?...the USD dissolves into mud. Can't fight 6 billion people on your own with a load of shit as money. Run out of oil, run out of men, run out of guns.

Thu, 03/03/2011 - 11:16 | 1014860 Sudden Debt
Sudden Debt's picture

Could explain why China has entered the arms race a few years ago.

And if you look to WOII how long it takes to build up a hughe force : +- 3 years.

The US advantage isn't "that" big.

+ China has more canon meat then the US.

Thu, 03/03/2011 - 11:29 | 1014898 asdasmos
asdasmos's picture

Plus, they can afford it.

Thu, 03/03/2011 - 11:17 | 1014865 Shameful
Shameful's picture

Not really.  Bretton Woods was more about the US being the only viable Western nation with an industrial base, and everyone owing the US for war debt.

Military dominance trying to make economic dominance does not work.  Might in the very short term, but the cost of the mil is self defeating.  And in the era of nukes good luck.  Can nuclear blackmail all the nations without the bomb.  Do it and everyone will have an incetive to get the bomb.

Thu, 03/03/2011 - 11:23 | 1014879 falak pema
falak pema's picture

In 1945 the USA could outproduce anybody. Everybody wanted US stuff. The US economy was on mega big surplus. Period. All the way to 1970 or thereabouts.

Now the USA is in chronic deficit. Nobody wants US goods any more. Nobody wants US money now. So what can a gunboat do? You can't produce oil in its barrel. And you can't force a guy to sell you his oil for nothing if he can sell it for more to another (China). I don't see USA occupying Saudi and churning out oil from its infrastructure. DO you?

Thu, 03/03/2011 - 11:36 | 1014921 impending doom
impending doom's picture

Everybody wanted US-manufactured goods because the rest of the world's manufacturing capabilities either didn't exist or had been bombed back to the stone-age. War debt + Marshall Plan sealed the deal. Having an ocean on either side is a great advantage in an age of cheap, easy oil.

Thu, 03/03/2011 - 11:21 | 1014885 tinsmith
tinsmith's picture

Eventually, I would think the Chinese might.  It's true that we are, or were, the school yard bully.  We were even the BMOC Star Quarterback in H.S., dispensing wedgies and beatings at will, but soon we will "graduate" and end up "pumping gas" for the Chinese or some other nation. 

Thu, 03/03/2011 - 12:05 | 1015063 SheepDog-One
SheepDog-One's picture

Same with the Roman Empire, expanded just fine using its military till it was spread far too thin and collapsed.

Thu, 03/03/2011 - 14:41 | 1015768 prophet_banker
prophet_banker's picture

really?  I think empires die by design, because the enemies always get behind the gates as traitors from within

 

 

Thu, 03/03/2011 - 11:10 | 1014838 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are telling me that the thing that coasts $1 trillion (before Rummy gets his greasy hands all over the blank checks) is what is keeping the dollar?  Huh?

Thu, 03/03/2011 - 11:14 | 1014858 Cognitive Dissonance
Cognitive Dissonance's picture

It's not a matter of how much we spend. It's a matter of how much we can print. The gunboats induce others to buy all that comes off the printing press. Until recently it has worked for 40 years.

Bail faster and maybe we can get a few more years out of it.

Thu, 03/03/2011 - 11:14 | 1014849 Shameful
Shameful's picture

To think, with just a few hits of a ten key pad Zimbabwe Ben can summon one of those bad boys from the ether...  He might want to summon a few more up for the world he is creating, summon up a few million barrels of oil while he's at it. 

"Creation of all things is easy.  One only needs to create the unit of measure equal to such a thing.  In the past it was necessary to have elaborate industrial or chemical process.  Possibly employment millions.  Now all things can be made through a printing press.  this will create an era free from want or hunger.  A golden age."

Modern Day Alchemy by Ben Shalom Bernanke.

/quote is a joke, but it would not suprise me if he wrote it.

Thu, 03/03/2011 - 13:18 | 1015410 cranky-old-geezer
cranky-old-geezer's picture

China's fancy new ASBMs (anti-ship ballistic missiles) might have something to say about that.  Pentagon seems to think so.

Thu, 03/03/2011 - 11:06 | 1014821 Bansters-in-my-...
Bansters-in-my- feces's picture

So whens my American brothers /sisters going to rise up and crush these sacks of shit.

Remember what Jefferson said about the tree of Liberty.

It's time for some fertilizer my friends.

 

Thu, 03/03/2011 - 11:10 | 1014837 falak pema
falak pema's picture

Does the tree of liberty grow in the barrel of a smoking gunboat ?

I think Jefferson had other ideas on that. 

Thu, 03/03/2011 - 11:11 | 1014841 jus_lite_reading
jus_lite_reading's picture

The American public has been brainwashed with mind-numbing shows like Dancing with the Stars. They know nothing of the mass raping of the middle class nor do they care until it impacts their way of life. Period.

And for now, the calming drug is working...

Thu, 03/03/2011 - 11:19 | 1014873 lesterbegood
lesterbegood's picture

.  On July 21, 2010 “We the People” of the de jure government proclaimed worldwide and  made our “Declaration of Sovereignty for the Republic for the united States of America” to The Hague (a.k.a. the International Court of Justice), the Universal Postal Union (UPU) and the United Nations (UN).

       On September 23, 2010, the first session of congress was convened by the united free state Republics of the re-inhabited united States of America. The seating of the Executive, Legislative and Judicial branches of the Republic government were successfully established. This was completed by more than the required two-thirds majority vote of “We the People” on the land of the independent free state Republics. Delegates from more than 42 free state Republics attended, and officers for all three branches of our government have been officially sworn into office, lawfully electing interim President James Timothy Turner and interim Vice President Charles Eugene Wright, along with other established cabinet members with a presiding majority vote of 94% approval. Thus, the Republic government is officially re-inhabited and staffed for the first time since 1868 by the will of “We the People”.

 

       We humbly come forward apologizing for the numerous atrocities we have unknowingly allowed the U.S. CORPORATION to carry out upon the international community. It is our mission to establish the American image of truth, honesty, integrity and honor around  the world. Our plan is to rebuild our economy and support other economies around the world, fulfilling humanitarian needs. We will allow our military to withdraw from unnecessary conflicts around the world and promote world peace and prosperity. We intend to follow God the Creator’s command to feed the hungry, clothe the naked, and  care for the sick, irrespective of creed, religion or race. There is no law against these things.

       We are calling on the support of all Nations around the world to help us end the tyranny that has been perpetrated by the unlawful actions of the UNITED STATES CORPORATE DEMOCRACY government. We shall achieve this goal PEACEFULLY AND LAWFULLY, with boldness, integrity and truth, so help us God.

Join a free American people.

http://republicfortheunitedstates.org

Thu, 03/03/2011 - 14:46 | 1015811 prophet_banker
prophet_banker's picture

calling for government revolution without calling for monetary policy revolution is idiocy, just what the central bankers are hoping for.

 

 

 

 

 

Bankers would have us believe it is their sole right to conjure into existence our money supply, and they tell government that it should not be in the banking business, and that money creation is best left to banks. Government should tell the bankers that money creation is the greatest sovereign authority of government, and banks should get out the government business of money creation. This should be a policy referendum to be voted on. Long live the State Bank of North Dakota, and the others that are soon to follow.

Thu, 03/03/2011 - 16:59 | 1016346 slewie the pi-rat
slewie the pi-rat's picture

 

lesterbegood:  so, are you out on bail awaiting trial, hoping that your personal share of the fines doesn't slow ya down for too long?

try reading the US Constitution, ok? then tell ALL yer new friends here @ ZH, again, if we mighta missed something, EXACTLY the source of your claim to legitimately claim something in the name of  "We The People". 

i can't wait for you to show me where!  sorry, i don't wish to visit your dumbass website if you don't mind me choosing where to point my computer, myself, ok?

if you don't want to share with us your constitutional basis for tyring to pull this nonsense, please get the fuk away from this site, and don't ever try blowing this smoke around here, again, asswipe.

no shit.  either back up yer bullshit, or get the fuk away from here.

Thu, 03/03/2011 - 12:07 | 1015072 SheepDog-One
SheepDog-One's picture

Thats just what Im wondering. Everyone in america is great at Stockholm Syndrome, marveling at their captors. So when do people get sick of taking their crap and say 'no more!'

Thu, 03/03/2011 - 11:06 | 1014826 SWRichmond
SWRichmond's picture

Lastly, the USS Enterprise is slowly making its way to Libya.

Slowly perhaps, but only by choice.  When Enterprise answers a flank bell, get the hell out of the way.

Thu, 03/03/2011 - 11:55 | 1015002 Richard Head
Richard Head's picture

I would not be surprised if Enterprise is still the fastest ship in the US Navy.  Eight reactors if I recall!

Thu, 03/03/2011 - 14:33 | 1015729 cranky-old-geezer
cranky-old-geezer's picture

... and easily taken out with one (Chinese) ASBM.

Carriers going the way of battleships in this new missile-dominated phase of warfare.

Thu, 03/03/2011 - 11:08 | 1014827 99er
Thu, 03/03/2011 - 11:16 | 1014864 Cognitive Dissonance
Cognitive Dissonance's picture

As always....excellent charting.

Thu, 03/03/2011 - 11:10 | 1014835 Brokenarrow
Brokenarrow's picture

I watched cnbc all this week--its is insanely schitzophrinic as the markets.

"Fast Money" azzholes yesterday said, "BUY! gld and oil!" Watch today. It will be "BUY! equities!"

Im not wasting my time anymore. You guys have fun with this thing. I hope its a hobby and you dont have to earn your living?

Even if you own US equities and the FED is your rabbi, you will wake up one morning and they will destory your life.

Thu, 03/03/2011 - 11:16 | 1014862 equity_momo
equity_momo's picture

I watched cnbc all this week 

What was that punishment for ? You're not a Wall St CEO are you ? Is that the latest SEC deterrent for corrupt billionaire Wall St schmucks - watch CNBC for a week.

 

The bi-polar nature of asset classes and breaking down of expected correlations with increased volatility - its either a top or a bottom. Hmmm markets already doubled though on hopium.

Thu, 03/03/2011 - 12:09 | 1015081 SheepDog-One
SheepDog-One's picture

I turned off CNBC long ago when it lost any credibility 2 years ago and jumped into the total Wall St/FED cheerleader mode.

Thu, 03/03/2011 - 14:38 | 1015753 cranky-old-geezer
cranky-old-geezer's picture

Funny .... never hear 'em say 'buy shorts' ... except fruit-of-the-loom commercials perhaps ... but don't watch those either.

Thu, 03/03/2011 - 11:14 | 1014848 TWORIVER
TWORIVER's picture

Looks like the bottom is in vs the Swiss Franc, others to follow.

Thu, 03/03/2011 - 11:16 | 1014859 hollywould
hollywould's picture

We shouldn't over think the weak dollar trade which is due to our central bank position to "HOOOOOLD" steady at ZIRP.  ECB getting closer and closer to raising rates, as they focus on the headline numbers.  Whether that is the right policy or not remains to be seen.  Last time they raised rates was in June '08, 3 months after Bear and 3 months before Lehman.  Trichet had plenty of egg on his face when he lowered them shortly afterwards, however the market is pricing in the expected raise. 

Thu, 03/03/2011 - 11:19 | 1014863 luk427
luk427's picture

Hillary Clinton makes me sick.  http://www.prisonplanet.com/hillary-clinton-we-are-losing-the-infowar.html     Start telling it like it is and maybe you would only spend half your budget.

Thu, 03/03/2011 - 11:29 | 1014895 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

She's going to have to start getting those face lifts bi-monthly if she wants to keep up with gravity.  Now that I think about it, maybe there is a corrilation between her face lifts, and the Swiss Franc devaluation.  Half life of a few days for both.

Thu, 03/03/2011 - 11:34 | 1014919 luk427
luk427's picture

Maybe Gadaffi's and Mickey Rourke's plastic surgeon can fix her up. 

Thu, 03/03/2011 - 11:45 | 1014955 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ha!

Thu, 03/03/2011 - 11:51 | 1014990 Waterfallsparkles
Waterfallsparkles's picture

I think it has a lot to do with Steve Jobs.

HE'S ALIVE, HE'S ALIVE.

Thu, 03/03/2011 - 11:56 | 1015010 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Oh Great and Wonderous Bernank, we prostrate ourselves before thee.

It's working. It may be a malevolent force, building more imbalances that will unwind again in a most painful way, but you must admit, "it" is working.

Things are reflating. 20% unemployment says inflation will not suddenly get out of hand. That unemployment level also says that if you are a government which does not control your own monetary policy because you are pegged to the almightly $, you will be blown to smithereens waiting for Americans to re enter the labor force. You will be inflated to ... Hell !

The logic is simple and compelling. And crazy. It's the crazy part that makes it even more disturbing and more compelling.

Thou shalt buy equities and commodities!

Fri, 03/04/2011 - 18:29 | 1020655 dizzyfingers
dizzyfingers's picture

?? The real US unemployment rate is not 9.8% but between 25% and 30%. That is a depression level of job losses – so why doesn’t it look like a depression for many people?

December 30th, 2010 http://investmentwatchblog.com/the-real-us-unemployment-rate-is-not-9-8-but-between-25-and-30-that-is-a-depression-level-of-job-losses-so-why-doesnt-it-look-like-a-depression-for-many-people/ ??
Thu, 03/03/2011 - 12:33 | 1015201 I am a Man I am...
I am a Man I am Forty's picture

these congress people need to pull out some fucking charts for bernanke for the world to see, stop qe3 and raise interest rates you fucking financial terrorist

Thu, 03/03/2011 - 13:20 | 1015417 glenlloyd
glenlloyd's picture

The gain is worthless if the value of that which the gain is paid in goes down.

Fri, 03/04/2011 - 18:23 | 1020638 dizzyfingers
dizzyfingers's picture

Love you Tyler. You make me laugh! Chairsatan... :-)

Mon, 03/07/2011 - 20:45 | 1028110 lsjcma
lsjcma's picture

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