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Guest Post: The Biggest Sell The News Event In Stock Market History
Submitted by Mike Krieger of KAM LP
But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty.
- Howard Buffett (Warren Buffett’s father and former U.S. Congressman)
The Biggest Sell the News Event in Stock Market History
The end game is accelerating toward us at an a frantic pace as we approach the midterm elections, the launch of QE2 and the complete collapse of the global monetary order as we now know it. Time itself seems to be experiencing a quickening as the quantity of major changes becomes increasingly compressed into shorter periods of human experience. The markets are now set up for complete and total chaos unlike anything we have seen since 2008. While I have many times before stated that the next crisis will make 2008 seem like a picnic it has been a waiting game…until now.
The U.S. Federal Reserve, which is in charge of the world’s reserve currency has gone completely and totally insane. Every time the stock market is down 2 points some maniac academic with a printing press delivers a speech about how much money they are going to print, basically daring anyone to short or sell the market. No one is smart enough to know how much QE is priced into the market, is it $500B? $1 trillion? $3 trillion? No one knows, but what we all do know is that the Fed through its non-stop yapping has now set up the ultimate moral hazard in financial markets. It doesn’t matter if all of the economic data miraculously comes in extraordinarily bullish over the next three weeks. The markets have put the Fed into the biggest box they have ever been in. They must do QE2 at this point and they probably have to do it big. The problem is, with the equity market up at the levels it is I don’t think ANY amount of QE2 will cause a rally. In fact, this might be the biggest “sell the news” event in the history of the stock market. If you are smart you will take appropriate actions while you can and sell to someone with less of a clue (believe me there are plenty out there).
QE1 Was a Failure and QE2 Will be a Disaster
The fact that so many people believe that stocks can’t go down because the Fed can print infinite sums of money is a reason in itself to sell them but there is more. Much more. There is this notion that QE1 was successful. Let’s take a step back and look at the facts. Yes, the economy had a phony sugar-high bounce from the lows but think about all of the other “stimulus” that occurred concurrently to QE1. There was the $787 billion stimulus package. There was “cash for clunkers.” There was the first-time homebuyers tax credit, which basically marked the return of 0% down home purchases. Then there was the inventory build associated with all of these artificial demand stimuli. This time the powers that be have one tool and one tool only. The printing press. Why do you think they are talking endlessly about QE2. It is because it is all they have got and I will tell you a little secret. It will not work. Wall Street has now been transformed from merely a chronic user of painkillers to a full-fledged crack head. When QE2 is ultimately announced it cannot possibly be good enough no matter how large it is. Wall Street will then whine to its pusher with a sell-off in an attempt to access more crack. The process that the Fed has started can never end. It is exactly what Rudolf Havenstein, president of the Reichsbank in Weimar Germany experienced. Once you go down this path you can never get off. The big difference here is that it has happened to the country with the reserve currency. It is the currency in which the supposed “wealth” of the world is stored. What do you think people will buy when they realize this? Physical gold or a round lot of Home Depot? QE2 will be more like the Titanic.
Oil is Screaming….STOP!!!
The oil market has come alive and it is signaling to those that will listen that there is a big problem. It is trying to tell the Fed to stop but of course they are much too sophisticated to pay attention to something as barbarous as crude or commodities in general. Wholesale gasoline prices are now up 12% in the last week alone. There is typically a week or two lag between prices at the wholesale level and those at the pump so consumers haven’t even seen what is headed their way yet. Then there is heating oil; take a look at that chart. It had better not be a cold winter. Meanwhile, I am completely convinced that just like in 2008, oil and other commodities will rise until they bust the money printing strategy. Asian Tapis closed at $91.67/b last night by the way. Oil is crying out to the markets to pay attention to it, yet there is only silence.
Howard Buffett and his Sad Sell-Out Son Warren
We are constantly programmed to worship leaders by the mainstream media. The methods to achieve this desired end are varied. To address the Wall Street crowd, stations like CNBC parade around idols like Warren Buffett who have at this point merely become government mouthpieces. We are instructed to listen to them because of the billions that they have made. We are supposed to stop thinking for ourselves. After all, isn’t it easier to just be told what to think? So this brings me to the quote at the top of my email from Howard Buffett, Warren Buffett’s father. It is from an article the Nebraskan Congressman wrote in 1948 and can be found here. http://www.fame.org/PDF/buffet3.pdf
So what happened to his son? When I first started in this business the one thing I remembered hearing about gold was Warren Buffett’s famous line that “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” So as an upstart coming into the financial services business the only thing I had ever heard about gold was a disparaging one from the greatest financial genius ever. So they say. Anyway, think about how this might brainwash someone like me unless I took the time to read into the history of gold and indeed the history of money and political control. Buffett’s father did not say gold was a good investment. Buffett’s father said a gold relationship to money was essential to human FREEDOM. In my extensive study over the past several years I have come to the conclusion that this is unequivocally true. Warren Buffett is a extraordinarily smart man, but he is a disingenuous deceiver. I wouldn’t listen to a word that exists this man’s mouth. If we want to start over in the years ahead and make the world a better place, we will resist all attempts at world government, world currency and world central banking. This is the direction that the powers that be want to take us in and it will without question result in total global feudalism.
In a similar vein, I saw this segment from Max Keiser’s recent show and I thought it was hilarious. Go six minutes in to the segment where Buffett’s right hand man Munger attacks gold. Then listen to Keiser as he calls this gremlin out as the equity pimp that he is. http://www.youtube.com/watch?v=00uCbUWG9aE&feature=player_embedded#!
Recent Market Action
Just a quick final concluding comment on recent market action. Tuesday’s huge gap higher in the U.S. stock markets had the feel of a rally that occurs the day after short selling is banned. People feel as if the Fed has banned short selling through their ability to print money. Just as those rallies materialize into nothing sustainable I believe we are very close to a major top. That is not to say that the market won’t stay here or rally further until the next Fed meeting. It may. However, every single indicator I look at points to a perfect storm for stocks and I have not been this concerned since 2008. As far as the actions in precious metals and the shares today, this looks like classic bull market action. A steep scary sell-off that shakes the weak longs out of their late and impulsive buys. It is days like today where macro funds should be adding to their longs in the metals equities and shorts in the broad market.
All the best,
Mike
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Gold getting blowtorched.
While the bond meltup continues unabated.
COUPON MATURITYDATE CURRENT
PRICE/YIELD PRICE/YIELD
CHANGE TIME 3-Month 0.000 01/06/2011 0.11
/
.11 0 / -.000 12:00 6-Month 0.000 04/07/2011 0.16
/
.16 -0.005 / -.005 12:11 12-Month 0.000 09/22/2011 0.2
/
.21 -0.015 / -.015 12:00 2-Year 0.375 09/30/2012 100-00+
/
.36 0-01½ / -.024 12:00 3-Year 0.750 09/15/2013 100-20½
/
.53 0-02 / -.022 12:15 5-Year 1.250 09/30/2015 100-17+
/
1.13 0-04 / -.026 12:17 7-Year 1.875 09/30/2017 100-25½
/
1.75 0-03 / -.014 12:22 10-Year 2.625 08/15/2020 102-00+
/
2.39 0-01½ / -.005 12:22 30-Year 3.875 08/15/2040 103-01½
/
3.71 -0-18 / .031 12:23
This will not end well.
Man up. Lets see a chart on VMW, CRM, NFLX
Peeps, Au measured in precious USD lost WELL over 1% today against yesterday's close. Can't you see Robo's point is that when it loses $14 in FRN's every day, within the next 100 days it won't be worth the metal the stamp has been imprinted on? ooer... wait a second, I got confused for a moment there... I meant: in 100 days it won't be worth the paper invaluable FRN's can be infinitely printed on at the whim of CB's.
Of course, if you believe Robo then I recommend your last will and testament include the stipulation that you are buried in some very, very warm clothing, 'cause the next stop is gonna be chilly.
Warmest regards
"blowtorched" - maybe he meant heat rises
Did you hear there is a fight club out in LA?
Blowtorch in a fireworks factory is obviously what he meant.
I was thinking more...creme brulee.
In candlestick terms, that last one looks suspiciously like a "topping stick" - look at the last similar one, in November 2009 - signals at least a moderate pullback from an extended run.
maybe, maybe not
http://i298.photobucket.com/albums/mm246/johnlf/Gold-correction.jpg
And a huge bearing engulfing candlestick today on GLD, SLV, GDX, etc, plus big volume. Sure looks an awful lot like a top to me. I'm not saying it won't hit 1500 in 6 months... just saying it sure likes it retracing from here for awhile.
So you are selling, right.
And a huge bearish engulfing candlestick today on GLD, SLV, GDX, etc, plus big volume. Sure looks an awful lot like a top to me. I'm not saying it won't hit 1500 in 6 months... just saying it sure likes it retracing from here for awhile.
Sure looks like an evening shooting star
IWM and SPY officially engulfed today as well. Take a look at what happened every time that happened on IWM this year.
guys, gold HAD to be taken down today. there is no way Ben gets it both ways tomorrow....a number crappy enough to allow him to print another couple trillion, and being able to control the price of gold. we're probably going to hit 1400 tomorrow before 9.
Sure. I was surprised when it had floated up past 1355. I love the fact it's getting taken out today. But remember when gold was taken down from 1200 for a while? Then the same argument at 1250 and 1300. Honestly, I was surprised they (the Shorts like JPM) let it go that far. Hell, let it trade down to 1300. I can make it on the short or long side. Make money on the GC, take the cash and go buy another ounce for long-term insurance. To answer the other question:
Buffett’s father said a gold relationship to money was essential to human FREEDOM.
This really means that Warren is, in fact, interested in enslaving humanity as a form of fun and profit. If there was any karma, Warren will be hoping to upgrade from "bacteria" in the next 10,000 generations or so.
Who's to say they weren't trying their darndest.
one of the new guys, Cortez, on cnbc believes that this is a top for gold b/c his mom called him up and said she needed to buy gold, and b/c of today's wide range, he says sell. now that's good stuff!
I heard that clown..His mom says "I think its time for us to buy some Gold" He said "that was our sell signal, sorry mom" she is 74
The chart doesn't lie. Oil is looking pretty strong as well.
Btw, Im not sure if this has been covered on ZH, but is there much consensus on oil ETf's? Are they as over leveraged/ unaudited as gold ETF's?
anyone done the homework? TIA.
Front month contract ETFs will all fail in the end.
The slippage caused rolling contracts each month guaranties their doom (at least without adding some kind of contango strategy)
Check UNG and natural gas futures. UNG should be about 2$ higher as the bottom in natural gas was a year ago, yet UNG keeps making new lows.
I have noticed, as have many others, the poor performance of energy ETFs such as USO and UNG to track their underlying commodities. Yet the agricultural fund DBA seems to do quite well, and to track its underlying commodity spot prices quite well. Why the discrepancy here?
You can't eat non-agri ETFs. Well, I guess you can if you tear them up fine enough and mix into your creamed corn.
1) oil key reversal
2) ETFs dont work in contango
3) Contango is not going away
4) Dont go long oil when u have record net shorts in the dollar..
Wow! You're a regular Shell Answer Man.
http://en.wikipedia.org/wiki/Shell_Answer_Man
There's something wrong with your chart. It keeps unraveling and pointing back up. I guess concentrated shorts don't work when gold gets ADD.
dear tyler, u forgot the foto of helena bonham carter in the ice cave.
slide baby slide
TIPPY, i thought it was a man cave.
which would make a woman the fire yes
???
???¿¿¿...........back @ you.
i have a delete key again. this is going to be fun again.
[Every time the stock market is down 2 points some maniac academic with a printing press delivers a speech...]
Terrific article, Tyler. Thank you.
Seems to me, the Fed and the Administration's intention is clear: Avoid a public panic at any cost. It's a confidence game. The average citizen knows very little about securities, banking, the Fed, bonds, etc. To the average person, gold bullion is pirate treasure. (Through no fault of their own, I might add. You would think these subjects would be required learning during high school in a capitalist economy. Unfortunately, they are not.) And let's face it, most people are busy with their lives. They're interested in other things. They're working, or looking for work, or looking like they're looking for work. They're getting their kids to school. Changing diapers. Taking grandma to grocery store. Going through the mail each day and making out bills. You know---living life. They just hope, and reasonably so, that our elected officials are doing their job.
So, the object is to avoid a public panic by pumping up confidence. The DOW is believed by the middle class to be an accurate economic barometer. Prop up the Dow = Public confidence.
For the middle to lower class, GAS prices are an economic attention getter. Lower gas prices = Reasonable public confidence. (I've been a member of both classes. The big gas-price sign in front of Exxon Quiki-Mart is the average man's Big Board.)
I read at least two hours of current news each day. I read a lot of thoughtful, well researched, and brilliantly presented information. I enjoy it as much as the next ZH reader. Sometimes though, I get caught up in the weeds of details and speculation, and have to remind myself that all of this is much simpler than I'm making it out to be. The Fed and the Admin are working in conjunction to maintain public confidence. The Admin is hoping to buy enough time to allow another credit-driven recovery to take root. The Fed is giving the Admin what it wants in exchange for expanded Fed money, power, and control.
The Admin thinks they are getting the better part of the deal. The Fed thinks they are getting the better deal.
We at ZH are well aware of the staggering corruption and market manipulation. We are a very small minority the Fed does not fear. The Fed fears the general public. When the illusion of economic recovery reveals itself for what it is, public confidence will plummet. Who can know how events will unfold at that point.
How much longer can the Admin/Fed keep the DOW UP and GAS DOWN in order to maintain public confidence? Days? Weeks? Months? Years?
Robo, you amaze me withyour posts. You really do well in getting data, and analysis is impeccable. I don't like some of your calls, however, you ARE USUALLY CORRECT.
Thanks for your posts. They are absolutely necessary in this crazy economic mess we are in.
The girls aren't bad either!
Sorry, but when has he been correct? I have yet to see one correct call from him on gold. It's always "sell", or "it's going down", or that stupid ski slope picture. He then goes on to post charts of individual stocks, as if that somehow proves that stocks are a good investment. It would be like a gold bug posting about how much a particular numismatic coin is selling for in the 80's as gold reached decade lows.
With gld, maybe that is true. However with his charts of showing the rises that are absolutely stupid in certian equities, his charts have been helpful in unraveling the corruption of the stock purchases over this last year.
Every time his charts come out, they tell the tale. I don't like what they say and I disagree on "why" they are going up, but none the less, the charts tell the tale.
Jusnk me if ya want, but I have been educated by those charts of APPL and BIDU going ballistic for no reason at all. Those 5 stocks including NetFLix and PRCLN, APPL, BIDU and the other one. Robo followed those and pointed those out.
Flame on!
The piling on of bonds, also crazy. And I love the posts about Vegas-related stocks, because yeah, those upticks are completely fucking batshit.
Yeah, calling a top after a drop. Genius.
now why do you have 21 junks. your pretty cute, i would mever junk you. goody goody my macbook pro got saved and i can go pickit up and he human again.
says eve to adam before she takes a bite...
applecare cover it?
ya sure about that first bite taken by adam. blame it on the woman.
fuck applecare. fuck apple stores i found the mac shack, my man aaron.
i didn't say who took the first bite, madamoiselle.
mac shack "apple approved" service at "apple suggested" rates or man that knows apples at a competitive rate? that's ok, don't answer that, some things are better kept whispered...funny how the free market works sometimes.
Only a total idiot would be piling into bonds which pay off in 2 ply FRN's.
It puts one at great disadvantage to evaluate any instrument from a fundamental perspective. All investment vehicles are merely proxies that reflect current intent, subject to the machinations of the power-elite. IOW, they have no "real" underlying or intrinsic value.
Once again, Krieger makes the critical mistake of assuming that Ben doesn't understand what he is doing. Consider a stunt pilot who is performing a hammerhead; he flies straight up until running out of airspeed, then the plane pivots over into a vertical dive.
If you were watching from the ground and didn't understand the maneuver, you might erroneously think that "He can't possibly go any higher - he's gonna stall!" Gee, no shit Sherlock. You didn't think the pilot already know that? And not only that, but the pseudo-stall and vertical dive are part & parcel of another series of planned moves that are executed at the time and place of the pilot's choosing.
So let us consider Bernanke and the power-elite. Someone as clueless as Krieger might erroneously think that "The markets can't possibly go any higher - they're gonna stall!" Gee, no shit Sherlock. You didn't think Ben, et al didn't already know that? And not only that, but the pseudo-stall and vertical dive are part & parcel of another series of planned moves that are executed at the time and place of their choosing. LOL
To recap, the underlying 'real' value of bonds is neither here nor there. Indeed, if they are part of the chosen exit strategy, then they will increase in value. If not, then they won't. So the key to this whole game is to think through potential exit maneuvers.
We know their absolute, prime imperative is to retain power. So what does this tell us about capital preservation and the likelihood of retaining control? Once more, please don't dismiss bonds or anything else for that matter due to your own beliefs; rather, consider them from the power-elite's perspective in terms of achieving their core objectives.
Bingo. I've been arguing for months now that QE 2 isn't going to happen... It doesn't make any sense... the general consensus is that QE 2 will come, this will necessarily spook the herd, and hyperinflation will ensue. Ok, so Ben doesn't know this too?
When you look at Iran, mass movements of blue water ships, and whatever else noise is out there, it becomes pretty obvious that an incredible amount of news is SOLELY directed at psychologically propping up the markets (because they don't have monetary ability to prop it up anymore even if they wanted, since Ben is in a vice).
We're attempting to be range bound and, if not, risk is to the downside, not the other way around...
Why would Ben get the markets' hopes up and then disappoint (likely triggering a full-blown crash)? Q2 is a fait accompli, sorry to say.
Capital transfer -> Debt -> Equity
You dont understand the nature of Ben Shalom Bernanke and the rest of the Zionists...you actually assume he's in there doing YOUR best interest?? Oh please.
Ignorance plus lack of imagination plus poverty of the soul equal bigotry.
I'm somewhat disappointed that the ZH community didn't pick up on the real reason behind Obama's pocket veto. (With the exception of CogDis who correctly understands there are significant ulterior motives.) I mean, if the denizens of ZH don't get it, then who does? Answer - nobody, except the insiders playing the game. (Wasn't it L Hendrix who stated he would rather have a note passed in the men's room rather than have a team of the world's best fundamental investors?)
Let's boil this down to the core essence: If, for physical reasons (ie the law of diminishing marginal returns) asset values can no longer be inflated and equity markets cannot go any higher, then who would be in the best position to know the absolute top had been reached? The Fed (pilot) or the investors (spectators)? And knowing this, what would comprise his subsequent investment (flying) decisions?
On another plane (get it? yeah, I know it's weak), recall that the power-elite own the MSM - it is their propoganda organ. They bought it for a reason - there isn't going to be any repeat of Watergate on their watch (ie Nixon brought down by an independent press). When you're at an air show, what is the announcer doing while the pilot is flying straight up and beginning to stall? And what does he do when the pilot begins his vertical dive? He's working the crowd; after all, it's a show.
So, let's get back to Obama's veto. If it is allowed to stand, what are they telling us? More importantly, what is Cramer going to be saying? Because, as long as he's being paid to bark the upside, the stall hasn't been achieved. The day the MSM is directed to begin discussing 'potential' bank insolvency (with Obama's veto added as a critical acceleratant), and Cramer begins to 'question' overall growth prospects, that just means the top has been reached.
There is a reason behind all of these actions. Politics is merely another means of achieving the desired control effects. If it was easier to use a gun, they would; so for now, the tricks & games are deemed to be more effective. (Like I've said, these are the good old days.) Simply watch what they are doing. If they appear to be willing to let the banks go down, that means they're getting ready to execute their exit strategies.
To paraphrase Orson Welles, "The power-elite will short (sell) no bull market (wine) before its time"
I consider this veto a tourniquet on the banks' cojones. Cooperate so that at some point of my choosing, you can get a "get-out-of-jail" card.
...Wasn't it L Hendrix who stated he would rather have a note passed in the men's room...
No. That's just popular opinion among many Republican senators while traveling through various airports across the country.
It has less to do with being an insider looking to profit, and more to do with being a pervert who wears their conservatism on their sleave.
If there was a shread of humor or even attempted humor in your comments, I would stomp and whistle for more.
But you are just mean.
You and Liberal Sodomy are bookends in the same sickening library.
Mean? I'm mean?
This isn't the fucking Oprah Show. Grow some balls and thicken your skin.
This site is utterly infested with Obama-bashing, right-wing nutcases with selective memory and retrograde amnesia that began on January 20, 2009.
If you're not sickened by both political parties then you're either a hypocrite, a bigot or you're in a coma. One of the three. Nothing else. I focus on the Republicans because the hypocrisy is deeper and richer.
If you can't handle mockery, then turn on the Oprah Show.
And lastly, the group of narrow-minded, hypocritical bigots that I target deserve no respect.
You put on your tutu, dance around the room and dumbfound the ZH community with your bizarre rant, then squeal like a pig when you get called on it.
A nasty mouth is not an argument. A patently false mask invites derision. Mockery requires humor. Stereotyping, to be successful, must have an element of plausibility; its absence merely insults your reader.
Say whatever you like. Others will reciprocate. I will be here eagerly waiting.
Please, Gentlemen. A little decorum on a site well-known for decorum. Better yet, lets bring back dueling. I'll be headed for DC with a .44 and 1000 rounds.
That will either be the longest duel on record or a memorable little war.
Read "The Dirty Dozen, How Twelve Supreme Court Cases Radically Expanded Government and Eroded Freedom" ISBN: 978-1-935308-27-0.
Right/left; conservative/progressive; Decepticrat/Republicon: None of these matter, but Stupid/Intelligent does.
BTW, Obamatron deserves no respect for perpetuating Bush's failed policies, neither do the Republicons!
Whats not to get? Cheap political election stunt obviously, I called it immediately. And many Zerohedgers said 'OH looks like Obama has now changed his stripes and is working for the people finally'! Yea right.
Modern politics is simply the current variation of age-old crowd control. If it was more expedient to exercise brute force power, (as we did with native Americans & African slaves) they would. How many people even contemplate our historical past, where the respective empires of Egypt, Greece & Rome were built on slave labor? Or that feudal serfdom was the operating mechanism for nearly 1,000 years?
So, yes it was a cheap political stunt, but to what purpose? All things, and I mean all things, revolve around gaining power as a means of acquiring life sustaining pussy, food, shelter, etc. Money is simply our modern way of measuring power, so once again, the critical imperative is to gain money == power.
Since gaining money (power) drives all decisions, why was the pocket veto executed? Does it provide upside potential or downside potential? Does positive 'upside' political support contribute towards gaining additional money (power) on the long-side? Or does it set the bar that much higher in that the short-side fall will be even sharper?
We may not have the ability to be grand masters, but how many even bother to attend and watch a match? As George C. Scott said in Patton, "Rommel, you magnificent bastard, I read your book!" I'm having a blast watching this shit unfold pretty much in the manner that I have expected.
a little more orson:
http://www.youtube.com/watch?v=8i47-QBL4Qo
"Free of income tax, free of income tax!"
well said B9...looks like the boys are playing a big game of chicken before G7...so predictable now you mention it. thanks for flippin the switch.
anyone up for starting a pool to see which TBTF goes down next?
or an over/under as to when it happens?
all the world's a stage
Yes, it is a fascinating game. And as anyone who has pursued various sporting/intellectual activities & interests can attest, the better you get, (a) the less people there are to share; and (b) the more difficult it is to find new challenges. I don't care if it's skiing, surfing, tennis, volleyball, hunting, fishing, you name it, all activities & pursuits suffer diminishing marginal returns.
I mean, what does Gollum, er, I mean Blankfein fucking do for fun? The guy is a cypher, a blank. He can't go anywhere, he can't do anything, so what use is earning another $100m gonna do him? Nothing, which is why the play becomes the thing, and the stakes need to be that much higher to even generate a comparable degree of interest.
In terms of understanding what's going down in the here & now, there's only a small percentage who have any inkling that there are multiple layers of a game within a game. We may not be Viswanathan Anand, but if we put in a little time & effort, we can sure as shit enjoy the show.
had to wiki my man.
"Anand has been viewed as an unassuming, benevolent person with a reputation of refraining from political and psychological ploys as much as possible in order to focus solely on the chessboard"
now that's the tiger i wish were runnin shit.
"your move, mr. spock"
agree, david bonderman same as blankfein. just can't do anything cept business. thinks he can relax in his 3rd home in moab UTAH. right. no one knows him there. hey, i have honed in athletic skills gets boring after awhile doing the same thing. mix if up with other alternative. i am digging my track bike - no cruising and my roller skis - no brakes.
I don't know which is next but Citibank has too many fingers in the cookie-jar and there aren't enough cookies for everyone.
I was driving away from an airshow once and in the mirror caught sight of a pilot doing a loop. I thought to myself that he was too low for the manuver - I was correct. Plane crashed and pilot died.
Folks need to take a step back to recognize the Ben works for "somebody." And that is the Fed shareholders and by entension their material shareholders - other banks.
He has his marching orders and those are; "More free money for my friends."
It will only stop when they have everything and everyone else has nothing.
It will only stop when they have everything and everyone else has nothing.
Constant inflation will make theirs worthless too.
Too bad you don't have the FRIGGIN' BRAINS to understand PERCENTAGES as opposed to PENNIES/DOLLARS. Idiot!
Yep Robo, FED sho'nuff is doing a lot of money laundering and buying up UST's, we'll see how that works out in the end.
Goled Bitchez!
Dow 36,000 !
I suppose you have come to tell us the bad news JB?
Everything but 1's and 0's going to be worthless. SELL NOW!
Are you JB's smarter brother?
I'm his evil twin Skippy !
Robo, can we be buds? Please? We are so much alike!
One thing bravo showed is that he is needy. needs attention.
OOOOO Blow-torched back into the center of it's up-ward trading channel.
Mortimer, sell sell sell!
You sir are an idiot, and idiotic enough to post it on this blog with drivel like this. I'm sure there is some deep psychological issue - but I just find it funny, and sad at the same time.
The equity bulltards will see their gold pullback. The problem is equities will follow and hard. Following the 1-3-6+1 on the short end will tell you that this rally was bullcrap from day 1. We're due for a 20-40% pullback at a minimum, maybe more if the Fed aggravates the situation by saying or doing something stupid.
Everything except USTs and the USD are going to crash over the next few months. Equities, commodities, real estate, Euro and ugggg... gold.
Print away Helicopter Ben. It won't do jack sh*t!
I completely agree with this. He could put 10 trillion into the system, wouldn't even make a dent.
So, how's the weather over there in BizarroWorld?
RobotTrader,
Put your money where your mouth is. What will the price of Gold be in June of 2011?
Robo doesn't collect or rub crystal balls.
His windshield is always dirty, but his rear-view mirror works great.
we simply can not afford to let the peasantry get the idea that gold is anything but an insanely volatile ...not for the common man... investment...
it has to be prevented at all and any cost.
Tibet on a clear day
OOOOO Blow-torched back into the center of it's up-ward trading channel.
Mortimer, sell sell sell!
You sir are an idiot, and idiotic enough to post it on this blog with drivel like this. I'm sure there is some deep psychological issue - but I just find it funny, and sad at the same time.
OOOO Robo junked me. You sir are STILL and idiot.
That made me want to eat some gold and lend the government some money.
But then I saw QE 2.0 unfold and yields skyrocketing and Chinese students smiling.
Bouts-Rimés Bitches http://en.wikipedia.org/wiki/Bouts-Rim%C3%A9s
Well Robo, the reason why I think so is because ALCOA will report aftermarket.
ALCOA is always a upper or a downer and expectations are not high.
BUT, on the other hand, I can tell you Alcoa will have done well. The number will surprise pretty big, and gold will be up tomorrow again as will all stocks.
I'm in the metal business myself and everyting is up +8%, which is not bad.
The last thing Ponzi Ben needs is a bunch of good data! Entire equities markets depending on more bad news and Super Q/E dosage!
Surprise, yea, Alcoa 3Q income drops 22%.
I can't believe this got junked. What a fucking festering nest of trolls this has become. That's FFNT for you short attention span types.
Funny. I thought the same when you started posting here...
Haha. Gold is down like 7 dollars in 2003 dollars. Which many gold bugs are still using. They are totally going without lunch tomorrow. Lulz.
:) getting your gold from an ETF will be like trying to steal Fake Gold from Gringotts, even if you make it through to the vault, it's still fake Gold.
robo you have 27 junks. i don't understand. what are you saying that makes so many here mad at you. i like you. i guess it is good to be dumb about financial and economic data. gold up $0.60 H O O R A Y
And there you go.
well whoopty do to you to, you left out
I LIKE YOU
well done
Maybe, but the tweeksters will always research their little companies and make their little plays. What you need is an enormous crash to wipe out the last of the petit bourgeois traders, as well as unemploying the clerical class. Count on the U.S. to do this as it liquidates its way.
But nice way to clear the path to the revolution--so we don't have to!
Remember the name of Lenin's best friend and staunchest ally:
Czar Nicholas II
yeah, 'ol man Buffet left Roosevelt off his list. was he early or forgetful?
I doubt that the FIRE economy will exist in 30-years, let along 10...but buy away. My money's literally on gold
No POMO, No MOMO
"The problem is, with the equity market up at the levels it is I don’t think ANY amount of QE2 will cause a rally." I hope you're right - I really, really do.. considering the if the Jobless Claims report decreases by 15 whole claims the market shoots up 200 points..
Excellent point about selling on the news. Hot money is replacing equity and hot money is cowardly money. Meanwhile, the economic fundamentals continue to deteriorate...
I am older than dirt, but I can remember when hot money meant a couple of minutes. Now it's nanoseconds. When will they ever learn?
One of the best Zerohedge articles ever!
Why do we still talk of "printing presses". Hell, if they actually had to physically print all this money, it would actually slow down this insane process. We don't print money anymore: We create it out thin "digital" air.
You are right, they dont have enought paper, ink, and presses to make this much money. Perhaps our only hope is for the FED operating system to be floating point limited. 16 digits? Double precision?
There should be a law saying they have to print up Q/E2 in dimes! Now that would only take about 17,000 years to print up $1 trillion, instead of this BS decimal point shifting Q/E technique. Just keep on shiftin to the right boys! lol
True. There aren't enough trees.
Maybe a similar reason to the fact that you say "we" create the money, when none of us are actually involved in the money creation process?
Good point.
LOL
Not true. I paid for my noon Big Mac with my credit card. Thus I "created" money out of thin air and I filled my belly with nutritionally suspect food "stuffs" that make me want to vomit 30 minutes later.
All in all a very successful day and it isn't even 2 PM yet.
"created" debt not money..........
Debt works in the same manner as money as CD just demonstrated.
Both the "money" making process and the Big Mac makes me sick to my stomach. :>)
debt is a lot like McDonalds -just supersize it (until you puke)
So.......you don't see a difference in having money or owing money??
Um,
Money is created by way of the creation of debt. We're talking about how it is created, not who is on the receiving end of it after it has been created.
When you take out a loan, whether it is a car loan or buying a house or a personal loan such as a credit card purchase, "you" or "we" are creating money in the fractional reserve system. We are creating a debt for ourselves, but that debt creates "money" in the system.
Try this 5 part "Money is Debt" video series. This is part one. It's not perfect and I don't agree with all the "solutions", but it illustrates very well how it works.
http://www.youtube.com/watch?v=vVkFb26u9g8
I showed this to my wife and Daughter. My wife's jaw dropped as she saw what our monetary system really is.
It's sickening to think CD, that by you going in debt for $3.00 for that Big Mac, our Government has sanctioned Banks to create $30 dollars or more of additional debt and allow the banks to confiscate people's property if they don't pay that debt (money) that the Bank never had in the first place.
Show them this 4 minutes of Jan's interview with California congress "man" Pete Stark. The more you owe the more you are worth.
http://www.youtube.com/watch?v=UjbPZAMked0&feature=player_embedded#!
Fuck heads like Stark are running the show. Act accordingly.
When one begins to think deeply about the Ponzi, social programing, debt slavery, population control and so on, one begins to see how "money" should be seen as our "will" or our "consciousness" in the sense that when we agree to use this money system, we are subverting ourselves to another master.
We are in effect giving of our selves, our souls, our being, our consciousness to this figment of someone or something else's imagination. We are surrendering ourselves to this meme, this control factor. When one thinks how much of our day is wasted in thinking about, using, working for, saving or investing, protecting, stealing, lying about and desiring "money" one begins to see "money" as the ultimate control mechanism.
I am not "religious" by any stretch of the imagination. I am spiritual. But one "religious" term I find fits in this case because it is nearly universally understood to be one of dominance and submission. I see "money" as the ultimate "mark" of the (control) beast and we are completely under its trance.
I say, my good man, welcome aboard! Now, are you going to waste your time attempting to teach others (by that, I mean those outside of ZH), or use the power to your own advantage? You know what happened to Lot's wife - there are penalties for looking back and rejecting maximizing one's own selfish ends.
Think carefully - do the sheep deserve a break, or should you join the shearing party with wild abandon? I'll give you a hint: wolves, soldiers and the power-elite all succumb to blood lust. Just make sure you have access to some facilities to clean up afterward.
it is at this point where some of us choose to look east or south for guidance my friend. to the highmountains and/or the deep jungle. let us amuse ourselves with our illusions and we'll gladly return the favor. maybe it's counterproductive to waste our energy arguing over which direction to travel, as maybe all directions are needed to arrive at the sweet spot that pokes the Eye just right?
and we are completely under its trance" What do you mean by "we".
i despise it and refuse to use it much as i can
Merehuman, he means anyone of us who continue to work within the fake (i.e., unrelated to anything of real value) dollar system, which is a belief system, nothing more. It is the Holiest of Holies for the Federal Reserve and the Treasury, and all their worldwide allies. Do you remember the the parable of the King Who Had No Clothes? The recognition of nakedness is fast approaching; be forewarned.
I had a conversation with my uncle about this very problem, perhaps 20 years ago (he died in '98.) While he agreed with me that it was a metaphysical house of cards, he was not particularly perturbed; while aghast at what had occurred throughout the world since he was a young man (born in 1925), he nevertheless retained some faith in economic cycles and, as Schumpeter would have said, "creative destruction."
What my uncle never imagined would happen, in his wildest imaginings (and they could get pretty wild), was that we could elect a Marxist President with clear ties to Communists (Frank Davis) and terrorists (Bill Ayers, who apparently also ghostwrote his books), and that the same President would simply overturn the rule of law (e.g., the bank bailouts continuing, the bailing out of the rest of the world, the nationalizations of the autos, preference given for debt juniors, seniors shafted, unions given ownership, unions given mucho federal dinero, generally)...the list is endless.
And nobody, NOBODY, understands, or reacts, except for a few disorganized nativists in the so-called Tea Party (who only react, without understanding).
and what if it is in the very act of despising that feeds it?
probably your best post
agreed...damn good soap cogdog...worthy of a contribution & conversation in and of itself
I don't think money holds power over you, debt does.
Therefore, Debt is the true mark of the beast. That mark placed upon your soul when you sign on the dotted line.
only if your physical assets are put up as collateral, otherwise
you "walk on water". criminal i would suggest/say.
no-i's, asked a friend i would trust with my soul why gold? yesterday. her response: gold holds consciousness. thought you would enjoy her answer. made more sense to me than any other response i've gotten so far.
shiny, sparkly ......... rainman.
interesting but i don't think it is accurate. symbolizes
consciousness, resonates, vibrates, etc? perhaps holds
a certain consciousness, but, represents the beginning of
consciousness and maybe the end of it but what is in the middle and
the mean time is up to us and our consciousness.
? as gold is like a strong drug that can make consciousness high
and then dead.? you see it all the time, bling. but i have no gold.
.
as many or most have none. just credit or no more credit and
operations that have done business for 30 years are seeing their
credit disappearing and business suffering because of same, and they
have no gold, just lost business and lost credit.
and speculative money is going into gold in advance of bonuses to
be paid with "qe too" rather than 30 year old businesses that are
selling there machinery to pakistan and china. so, i post here this
reply that has been unrecognized by the comment reply area repeatedly
for some unknown reason, i suspect a copy and paste protocol violation
of some kind but here goes...
and this.......
@ punderoso above
. opinion
what do you advocate? i respect your opinion as nothing if you do not advocate something. what do you want me to trust? gold? and the men who possess it or the system that offers bills valued by those who possess it? what form of authority are you opining about? do we banish the idea of representative government because people have no gold in their possession? is all philosophy nonsense? can you answer my question? are you a closet socialist? . or is it let the non gold bearing die their stupid and pitiful deaths, ah men.? the fates can be so unkind. ?CD....my original response was to Vampy but CD....You....Ah....work for the FED? "created money out of thin air" is what they are doing.
I think we're talking about two different things. I'm talking about money being debt and debt being money in the fractional reserve system we have today.
Are you talking about plain old fashioned Fed "printing" a la QE?
The dollar in my pocket reads Federal Reserve Note. A note is a debt. Plain and simple.
CD...please forgive....I assumed that when you used your card to buy a burger that you were talking about money you personally owed...not the fractional reserve banking system.
Good. I thought that was where we were missing each other. It's so difficult talking about these subjects when the terms have been (intentionally) distorted and misused so much by those who wish to control, beginning with the MSM and the education system.
BTW any education system that purports to be tasked with getting children ready for the world and doesn't teach them about the economic system is a fraud. Not saying the teachers are the fraud. I'm talking about the system itself and the PTB behind it.
you know what is funny coggy. i thought my gold coins said:
In Gold We Trust.
wouldn't that be great if that is what it really did say instead of GOD.
Look up "Kabbalah" on wikipedia.
The "Money is Debt" series are the junk food description with the socialist heartburn twist at the end. They speciously lie and twist by correctly complaining about debt money created by a private/independent (whatever) central bank being evil, but then they advocate pure fiat craphole "money" counterfeited out of thin air by politicians for "the people's benefit" as the cure. [Vomit Vomit Vomit]. Always use your moral code as your yardstick. If you base your system on countefeiting, which is always theft no matter who does it because you are using it to trick people out of their labor or property, then your society is built upon a foundation of corruption that will eventually fall.
Please, go to the fruit and vegetable section and pick up something from the Austrian School like Murray Rothbard's "The Mystery of Banking", or "What has Government Done to our Money, or go to Mises' "The Theory of Money and Credit", or many of the works by F.A. Hayek.
Sir I've already feasted at that table and I return regularly. I have found that when directing others to enlighten themselves, once must start with some easy to digest basics. Most people's eyes will glaze over before they are 5 paragraphs deep with your feast. Better that they are entertained while the education starts. If they want to go further, they will find the bountiful table in due course.
why do you advocate whatever it is you advocate? is it for
your personal advantage or for the betterment of "mankind"?
if the answer is the first you are selfish and obviously not to be
trusted. if the second you are a socialist. (and not to be trusted)
according to your own judgements.
just asking.?
What philosophical nonsense are your spewing? I never asked anyone to "trust" what I advocate, I offered my personal opinion, and you can disagree with it, and better yet cite facts on why you disagree with it.....or you can barf out specious philosophical rhetoric in some lame attempt at the socratic method because you disagree with my opinion.
for the record. notice the implication of LAW> = socialism.
.
http://en.wikipedia.org/wiki/Advocate
.
An advocate is someone who speaks on behalf of another person, especially in a legal context. It is used primarily in reference to the system of Scots law, Anglo-Dutch law, Scandinavian law and Israeli law, and also to refer to the fused legal professions in the Channel Islands and Isle of Man. Implicit in the concept is the notion that the represented lacks the knowledge, skill, ability, or standing to speak for themselves. The broad equivalent in many English law-based jurisdictions is "barrister".
.
gold, government. who pays for it and how? who controls it? gold / god.
so close yet so far.
TL - I would suggest watching the Money Masters series by Bill Still.