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Art Cashin On Bernanke Quoting Shakespeare In Swahili, And Everything Else In Yesterday's Surreal Trading Day

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Wed, 10/05/2011 - 10:24 | 1741195 pupton
pupton's picture

Bank of America down again today...old news or is this a big deal?

Wed, 10/05/2011 - 10:37 | 1741249 MillionDollarBonus_
MillionDollarBonus_'s picture

Art Cashin fails to realise that politicians have no bussiness meddling with monetary policy in the first place. I would expect a seasoned investor like Art Cashin to at least know that our Federal Reserve is set up to pursue its dual mandate INDEPENDENT of congress, to avoid corruption. Politicians are elected to be strong leaders who know how to inspire trust and confidence in the economic recovery, and to make tough decisions regarding FISCAL policy, not monetary policy.

Wed, 10/05/2011 - 10:38 | 1741256 xtop23
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Wed, 10/05/2011 - 11:41 | 1741518 narapoiddyslexia
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MDB's sarcasm is almost ethereal.

Wed, 10/05/2011 - 10:40 | 1741258 pupton
pupton's picture

 "politicians have no bussiness meddling with monetary policy in the first place" But the federal reserve does?  Sounds a little mixed up in the logic there.  How about we have SOUND MONEY that nobody can manipulate?

(Ron Paul 2012 - duh)

Wed, 10/05/2011 - 11:34 | 1741486 Jack Napier
Jack Napier's picture

Dr. Paul is a great candidate if you like the following:
- He wants to sell all the gold in Ft. Knox
- His wife and daughters are in the Order of the Eastern Star, the masonic order, a secret society, not unlike the bonesmen we've had in recent history.
- He adheres to the Jesuit controlled John Birch Society

Moral of the story = controlled opposition. Don't count on this guy. Of course these things likely ensure he will win since people are begging for the next installment of change we can believe in.

Wed, 10/05/2011 - 12:07 | 1741624 baby_BLYTHE
baby_BLYTHE's picture

he only floated that idea because the Treasury refuses to open the pearly gates at Fort Knox to American citizens. He wants confirmation that the gold is still there.

Also, Paul's father was a mason. Paul has confirmed this on numerous occasions. Paul himself has only spoken to the Birch Society, he himself is not a member.

Wed, 10/05/2011 - 12:24 | 1741721 Oh regional Indian
Oh regional Indian's picture

Spot on Jack. Controlled opposition indeed.

30 years of talking is a looooooong wind, hmmmmm?

The confirmation bias is showing in your red/green count, as mine will too I suppose. 



Wed, 10/05/2011 - 13:22 | 1741947 i-dog
i-dog's picture

Not only was Ron Paul associated with the Jesuit funded and controlled John Birch Society, but he is also closely associated with prominent members of the Jesuit funded and controlled Council for National Policy (the successor to the JBS and highly secretive right wing NWO sibling of the left wing Council on Foreign Relations). The Council for National Policy also backed Rand Paul's Senate campaign. The highly secretive CNP makes the Bilderbergers look like paparazzi whores when it comes to publicity and denials by alternative media personalities who are otherwise all over NWO organs.

Ron Paul doesn't smell right to me...........

OT, but also related: Romney is also a Jesuit puppet (Mormon) and is currently running at 59% for Republicrat presidential nominee on Intrade.com.

Wed, 10/05/2011 - 10:43 | 1741278 snowball777
snowball777's picture

I know it's hard coming up with new material. Sometimes you just need to take a break.

Take a break.


Wed, 10/05/2011 - 11:38 | 1741505 Woodyg
Woodyg's picture

A thursday night ass-kicking is coming your way Cal Bear.

Wed, 10/05/2011 - 10:52 | 1741295 Cynical Sidney
Cynical Sidney's picture

of all things you should expect a bearded economist like shalom bernanke to at least know that his federal reserve is set up to purse its dual mandate independent of banksters to avoid corruption. but expectations are often quite distant from reality

Wed, 10/05/2011 - 11:54 | 1741567 Last_2_Sense
Last_2_Sense's picture

The Federal Reserve separate from the banks? You are joking right? The primary dealer "Investment" banks like Gold-inmy-sacks are the counter parties to the Fed in the whole money creation scam. Thats why they will never be allowed to fail, they are central to the "we are gonna steal everything" plan. 

Wed, 10/05/2011 - 10:48 | 1741298 X.inf.capt
X.inf.capt's picture

not much satire in this one....


Wed, 10/05/2011 - 15:12 | 1742334 Schmuck Raker
Schmuck Raker's picture

None, nor sarcasm. Sneaky huh?

Wed, 10/05/2011 - 10:54 | 1741322 LongSoupLine
LongSoupLine's picture


Wed, 10/05/2011 - 10:54 | 1741325 Bastiat
Bastiat's picture

. . . politicians have no bussiness meddling with monetary policy in the first place


Politicians had no business creating the Federal Reserve Bank.

Wed, 10/05/2011 - 11:11 | 1741382 i-dog
i-dog's picture

"Politicians are elected to be strong leaders "

Hogwash! ... politicians are elected for their hairdos and/or toothy smiles.

Strong leaders scare the sheep (and are also a threat to the puppet masters).

Wed, 10/05/2011 - 11:27 | 1741454 spankfish
spankfish's picture

"Hogwash! ... politicians are elected for their hairdos and/or toothy smiles."  Have you ever seen Barbara Mikulski, the U.S. Senator for Maryland?  Sir, you stand corrected!

Wed, 10/05/2011 - 11:09 | 1741384 ZeroAffect
ZeroAffect's picture

A classic 'drinkin-the-Kool-Aide' comment by $$$,$$$,$$$ Bonus.

"Politicians are elected to be strong leaders who know how to inspire trust and confidence in the economic recovery, and to make tough decisions regarding FISCAL policy, not monetary policy."

Sure, they may be elected by the sheeple to do what you claim they aspire to do, but we all know they don't do it. Just look at all the 'rosy' economic data we've seen over the last 2 years. Yeah, my confidence level in our elected politicos is Sky-High.


Wed, 10/05/2011 - 11:21 | 1741428 Smiddywesson
Smiddywesson's picture

Politicians are elected to be strong leaders who know how to inspire trust and confidence in the economic recovery, and to make tough decisions regarding FISCAL policy, not monetary policy.

Silly boy, politicians are selected, not elected, by TPTB to protect the status quo which feeds upon the electorate.  They are selected on each side of the aisle, and on each side of the major issues, so that TPTB always have a useful pawn to push forward in whatever party the sheeple are in a mood to support.

Wed, 10/05/2011 - 11:33 | 1741481 prains
prains's picture


is that to mean; to bus or on the bus you have achieved "bussiness" ??? 

would the verbage fit into something like; "on his way to the chinese gulag Bing Bong Pow met his tragic end by way of an unintended "bussiness"?? 

MDB_your chinese troll skirt is showing

Wed, 10/05/2011 - 10:51 | 1741310 fightthepower
fightthepower's picture


Wed, 10/05/2011 - 10:56 | 1741332 madbomber
madbomber's picture










Wed, 10/05/2011 - 11:56 | 1741570 Sambo
Sambo's picture

BAC website down 6th day in a row......:(

Wed, 10/05/2011 - 10:32 | 1741200 Cynical Sidney
Cynical Sidney's picture

market rallies on any news of possible bailouts on the backs of the general public

from LA Times:

In two hours before Congress' Joint Economic Committee, Bernanke painted a gloomy picture of the economic recovery, describing it as "close to faltering." He predicted there would be no quick pickup in new jobs and again urged lawmakers to come up with a credible plan to deal with federal deficits.

His frustrations emerged more sharply and vividly than in the past. He empathized with anti-Wall Street protesters who, in marches in New York, Los Angeles, Chicago and elsewhere, have been blaming big financial institutions, including the Fed, for the economy's woes.

"Very generally, I think people are quite unhappy with the state of the economy and what's happening," he said. "They blame, with some justification, the problems in the financial sector for getting us into this mess and they're dissatisfied with the policy response here in Washington.


We blame you, douchben

Wed, 10/05/2011 - 10:37 | 1741252 zorba THE GREEK
zorba THE GREEK's picture

7 taters

Who wants to participate in this kind of broken market, I know I don't.

Wed, 10/05/2011 - 10:48 | 1741299 defn8Dog
defn8Dog's picture

But isn't it Great to see follow-thru today?! Example:  FCX (up)  no longer correlated with the price of copper (down).  Risk on, beetches!

Wed, 10/05/2011 - 11:08 | 1741380 catacl1sm
catacl1sm's picture

But Cramer said FCX is in great shape!?

Wed, 10/05/2011 - 10:55 | 1741327 Hmm...
Hmm...'s picture

well done...

Wed, 10/05/2011 - 10:56 | 1741334 oogs66
oogs66's picture

sadly, if the market is a reflection of anything, how broken is our economy?

Wed, 10/05/2011 - 11:13 | 1741396 LRC Fan
LRC Fan's picture

Would you rather participate in a market with 100% transparent and widely available information?  How would you ever make money if the markets were 100% efficient? 

Wed, 10/05/2011 - 11:38 | 1741494 Smiddywesson
Smiddywesson's picture

Would you rather participate in a market with 100% transparent and widely available information?  How would you ever make money if the markets were 100% efficient? 

Yes, and that's why you will never, ever, see "fair" and 100% efficient markets.  There's just no profit in a level playing field. 

I would go a step further and say there never were fair markets.  Even in colonial times on Wall Street the big players must have realized they could join together and quietly wait on the sidelines for the little traders to cluster on one side of the trade, and then trade in size to run their stops.  A tip of the hat or a pinch of snuff gives the signal, and all the little players who were stupid enough to trade with each other are swept away. 

That is exactly the same game being played today.  If you cluster on the side of a trade with enough retail to justify the costs of moving the price, you invite attack, especially if there is some fundamental story to keep you in your position.   Yesterday was the penultimate example of them moving Heaven and Earth to squeeze those who made themselves squeezable.  

Wed, 10/05/2011 - 13:10 | 1741951 Hugh_Jorgan
Hugh_Jorgan's picture

I think this is a trick. Assuming he is not allowing you to complete the process with the 3rd friend getting 1/2 of zero (in that case there would have been 5 potatoes in the sack).

There's no way to get 0 in the bag as long as every friend gets HALF of something left above and beyond the 1/2 of a potato. In other words, there is no way to end up with a completely empty bag in this scenario.



Wed, 10/05/2011 - 10:28 | 1741212 GeneMarchbanks
GeneMarchbanks's picture

Yes whacky session to say the least. Here's some trivia right back at you: Art, what's Swahili for Plunge Protection Team?

Wed, 10/05/2011 - 10:42 | 1741272 pupton
Wed, 10/05/2011 - 10:56 | 1741330 HelluvaEngineer
HelluvaEngineer's picture

Yeah.  Those guys are awesome.

Wed, 10/05/2011 - 10:31 | 1741221 The Axe
The Axe's picture

You the man ART!!!!

Wed, 10/05/2011 - 10:42 | 1741229 GoldenTool
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Wed, 10/05/2011 - 10:33 | 1741230 reader2010
reader2010's picture

Black swans are needed and where can we find them?

Wed, 10/05/2011 - 10:37 | 1741247 Gandalf6900
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Wed, 10/05/2011 - 10:33 | 1741235 the misanthrope
the misanthrope's picture


wapige timu ya ulinzi



Wed, 10/05/2011 - 12:34 | 1741795 Ned Zeppelin
Ned Zeppelin's picture

"Wani por cowbisa. Cowbisa por Kong!"

- King Kong, 1933

Wed, 10/05/2011 - 10:34 | 1741239 X.inf.capt
X.inf.capt's picture

was yesterday a rally, spasm or death throw?


Wed, 10/05/2011 - 10:39 | 1741263 TradingJoe
TradingJoe's picture

desperate times call for desperate measures!

Wed, 10/05/2011 - 10:51 | 1741311 X.inf.capt
X.inf.capt's picture


it is getting desperate...

how do you hold a house of cards together....

Wed, 10/05/2011 - 11:01 | 1741349 Dr. Richard Head
Dr. Richard Head's picture

Apparently by playing a good old-fashoined game of Pick Up Stix.  That's all I see these economist drones and politicians doing. 

I think KerPlunk is a more appropriate game analogy right now overall.

Wed, 10/05/2011 - 11:05 | 1741369 X.inf.capt
X.inf.capt's picture



Wed, 10/05/2011 - 11:19 | 1741418 disabledvet
disabledvet's picture

Classic short squeeze as covered by ZH both perfectly and with perfect insanity. The fact is the dollar is still massively under valued and Congress wants to destroy it's value even more. This is also known as the "free money for Wall Street Act" and ZH has stood opposed to this reality for far too long. Anywho stay tuned because what is...in effect NOT happening in Europe (with the opposite always being claimed of course) is probably the biggest event in economics since the Normandy Landings.

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