Here Are The 5 Words That Sent The Market Soaring

Tyler Durden's picture

Earlier today we reported that the primary catalyst for today's surge in stocks was Mario Draghi's speech in NY attempt to cover up the ECB's latest policy error as virtually every sellside analyst called Draghi's 'disappointing" decision to jawbone expectations from the ECB to the stratosphere only to fall woefully short and lead to a 500 point plunge in the DAX and the biggest surge in the EURUSD since the announcement of QE1).

But nothing was a bigger catalyst in setting the market's euphoric mood than the following exchange between Mervyn King, in which the former BOE chief asked "was today's speech deliberately designed to try offset some of the reaction yesterday?" to which Draghi had a response that shocked every central bank watcher in its brutal honesty that all that matters to the ECB at this point is the market:

"Not really... well, of course."

And there it is: at the end of the day, all modern monetary policy devolves to is offsetting a "negative market reaction", not even so much about pushing the EUR lower, which as we showed earlier, barely budged.


Bottom line, it was, is, and always will be about manipulating markets higher and the former Goldman Sachs banker no longer even bother not admitting it!

The spectacular exchange takes place 1 minute into the following clip.

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Groundhog Day's picture

perhaps Goldman lost some money or clients so they had to get their boy mario to do a do over

DonutBoy's picture

What a charade.   Global 'capitalism' reduced to divining the intentions of a half-dozen banking cartel servants.

Ignatius's picture

"Son, did you eat that cookie?" 

"Not really...well, of course."

Occident Mortal's picture

Gotta remember that this is the Federal Reserve banking system and that commercial banks vote for all the govenors and board members.


There is politics at play here, and Draghi is just listening to his voters concerns. That's just not me and you.

NoDebt's picture

I only count four.  US, Japan, ECB and China.


Noplebian's picture
Noplebian (not verified) HedgeAccordingly Dec 4, 2015 5:17 PM
'Here Are The 5 Words That Sent The Market Soaring'

All fiat currency is fake!


Racer's picture

Reminds me of that Hanky Panky clip about rewarding the rich people and making the poor poorer and gloating over it.

The Goddam Suckers are showing their true psychopathic natures!

GRDguy's picture

Notice that the background to Hank Paulson's "show of emotion" was Milken Institute.  For those with short memory,

Crooks just love having other crooks on their stage.

Sudden Debt's picture

Inflation is really becomming a big problem in europe right now. Some are still confusing it with economic growth but when this dragon starts to spew fire this will be a repeat of the 50's, the 70's, the 80's and the 90's combined.

firewire888's picture

Supermarkets and business should post a sign saying "why are prices up?  Blame central banks."  Think if most people understood this they would stop the likes of Draghi and Yellen.   If you are a consumer why would you want prices to go up?

taketheredpill's picture


logical-different's picture


Steve Liesman is the ultimate butt sucking arshole and bobble head.

mayhem_korner's picture



The algos were programmed to trade on the elipsis.

Dr. Engali's picture

They're not even trying to hide the fact that they're taking care of the 1%. It's not like the proles are paying attention anyway.

Bemused Observer's picture

Actually, a lot of us ARE paying attention. And it is occurring to us that all they are accomplishing is the ultimate collapse of what they're using as money. Though it seems as though they are making a few friends very rich, that wealth is measured in the very money they are rapidly rendering worthless.

All super-rich are wealthy on PAPER only. They are rich because they have many billions of DOLLARS...or EURO's, or whatever. Their wealth will NOT survive the death of the currencies it is measured in.

A man with one small home he can defend actually HAS something of value. A Warren Buffet with hundreds of millions in real estate 'claims' all over the globe will have a tough time making good on those claims if those hundreds of millions should lose their value. He'll be stuck wherever he happens to be at the time.

lester1's picture

I am paying attention. And that's why I'm supporting Donald Trump for president to shake up the status quo.

lester1's picture

I am paying attention. And that's why I'm supporting Donald Trump for president to shake up the status quo.

BoNeSxxx's picture

That is not entirely true. The 1% are quickly converting their filthy soon to be worthless fiat into hard assets. The 99% will be fleeced yet again as their fiat is trapped in the system in the form of savings, fiat denominated debt, and 401(k)/IRAs. Same scam that made the House of Rothschild mightier than the King of England.

GoBadgers's picture

And of course Liesman thinks it's all fun and games, what a joker that Draghi!


And when this all comes down, people need to keep these clips in mind an dhold these knobs accoutable because they have absolutely no regard for the average saver.

LooseLee's picture

I'll speculate that Mario Draghi's head will be on a Pike posted in the town square in Brussels before the end of the current decade.....

cheeseheader's picture

My vote goes to the Grand Place where I'll be sipping (chugging) my Stella....

besnook's picture

as long as the numbers balance, regardless of any real relation left to any of them, everything is pink and purple unicorns with sparklies a nd rainbows and pots of gold.

Fiat agnostic's picture

I think it's only a matter of time before a well modulated fart by a central banker will have immediate and profound market changing abilities.

Fiat agnostic's picture

I think it's only a matter of time before a well modulated fart by a central banker will have immediate and profound market changing abilities.

Implied Violins's picture

If it burns green = Buy. If it burns red = sell. If it singes ass hairs = get into shorts.

Jason T's picture

commies trying to manage everything.. .. good lord, entire world will be riding bicycles like the Chinese in the 1980's


BeaverCream's picture

Mr. Bean runs the European Central Bank....

3Wishes's picture

g   o   l   d   gggrrrr ooooo lllll dddd   GOLD!!!!

Xatos's picture

What's that song the snowman sings in Rudolph?

"Siiilveer and gooolld, siilveer and gold"

lunaticfringe's picture

Burl Ives. Drives my other half nuts. I play it once a week- at least.

Francis Marx's picture

Like I said the other post day. Its amazing how much damage one guy on the planet can do with just words

lester1's picture

This is amazing. This will be the first time in history where we will be in a recession and stocks will continue to go higher.

buzzsaw99's picture

maybe dudley wasn't lying. it's possible there is no fed equity market put. however, there definitely is an ecb, boc, and boj equity market put.

Truth Eater's picture

These rich bastards are feeling so secure and mighty that they mock the little people while stealing every cent.  The money game has gotten very costly for the players with the use of computers.  All players lose and all controllers win.  Wanna play?

Crocodile's picture

Their confidence comes partly from arrogance and partly because they believe are "safe & secure"; perhaps they have some weapons we are not aware of??

FreeNewEnergy's picture

I don't often quote the Bible, but this is the appropriate verse (Proverbs 16:18):

Pride goeth before destruction, and an haughty spirit before a fall.

wisefool's picture

They cut to Leisman live right after this and he was literally speachless. Which is impossible for the fedspeak version of a star wars C3-P0. (Santelli being Han Solo of course)

double 007's picture

 u know what i have  been a member here for over 6 fuckin years listening to this dribble i invested in 2500 ozs. of silver and if i would have taken that money and invested in the stock market i would be a whole lot better off thank you ZH woops i mean fuck you zh

Crocodile's picture

If you lived in Brazil or Argentina or Chile, then you would be very grateful.  This isn't an investment; it is purchasing power protection.  Two ozt's of silver filled an SUV gas tank 10 years ago, 5 years ago, today and 5 years from now.  Get the point; you should be aware that it is a hedge against inflation and a bet against this debt and ZH has made that point in many different ways. 


All you have shown is a lack of patience.  BTW - if you made investments in PM's since the depegging of the gold standard in 1974, your return on investment would far exceed all markets.  Patience.


Although we are living in unprecedented times and that means we do not know how bad this is going to end, but end it will and ugly it will.

TradingTroll's picture

What Fucking planet are you on?Gold closed 1974 at $183.Dow closed 1974 at 616.Dow is up 95 times. Gold  is up 6 times.Idiot gold bug.






Tinky's picture

I see that aside from utterly failing to understand the value of owning gold, you also have some real problems with math.

95 x 616 = 58,520, and the Dow ain't there quite yet.


Pareto's picture

nominal v. real pinhead.  when you figure that out - index measures won't mean much to you.

Baronneke's picture

Hello....this is Mario speaking

Hello Mario, this is Lloyd.  What the hell did you do yesterday, you dipshit ?

Mario:  Hi Mr. Blankfein.  Yes, uhm, cough, uhm, I am sorry I dissapointed the markets but just as you said, I had a speech today and as you can see the "markets" did buy it all.

Lloyd: Good boy Mario. Never forget who your master is. Now....get on with your work and don't let me down again, you moron.

No no, ofcourse not mr. won't happen again.  Lick lick lick.

Racer's picture

That the 'markets' are sooooo dependent on this hopium is totally unbelievable and that anyone with half a brain cell beyond a vacuum tube would dare to venture into it ..... go ahead..... Very pleased to add to my gold yesterday, but unfortunately it sunk when I was out enjoying the rough weather today so am no better off... but at least they have less to seize!

Crocodile's picture

Homo Sapiens Ruled by Hope-No Sataniens and Obama and company would be the HopeNo-HomoMulsliean-Satanien, the worst specie.

Pareto's picture

Fuck off with the Here are some signs of a coming recession.......please.

coast's picture

 >>> go total jesus

>>>  buy whiskey and cocaine and hookers.