Liar!

by Larry Levin

Helicopter-Ben Bernanke has taken to blowing bubbles in the financial markets with ease. He is surely making EZ-Al "bubbles" Greenspan proud. They have so much in common it's hard to tell them apart. Helicopter-Ben is just as delusional as the old coot too, spewing the following bile just today: "We are attentive to the implications of changes in the value of the dollar and will continue to formulate policy to guard against risks to our dual mandate to foster both maximum employment and price stability. Our commitment to our dual objectives, together with the underlying strengths of the U.S. economy, will help ensure that the dollar is strong and a source of global financial stability."

Bullshit! Ben S. Bernanke - you sir are a liar!

He is attentive to nothing of the sort. Clearly he would rather use the US currency as toilet paper than formulate a policy to protect it. Has Ben done anything to achieve his so-called dual mandate? How has he or the others at the Fed "maximized employment or price stability?" The dollar is not strong as Ben claims; in fact, it is so weak it is now being throttled like a rag doll. There is no financial stability!

Let's be clear here - Ben's #1 objective is to give your money away to the scamming banksters on Fraud Street and to make the clown-posse in Congress happy - period.

Ben "I-love-to-throw-counterfeit-money-from-my-helicopter" Bernanke said a lot more, of course, but this was a doosey: "Weak income growth, should it persist, will restrain household spending."

Weak income growth? What income GROWTH is he referring to? There is no real growth because any growth at all is being stripped away by a lower currency (inflation) and the banksters radically jacking up credit card interest rates regardless of your payment history. If you have a card with Shitibank, you know what I'm talking about. Shitibank, without warning, raised all card holders' rates to 29.99%. So if you had a balance, any income growth is now gone. And if that wasn't bad enough, taxes and fees are going up like mad on a State and local level across the country to make up for their revenue shortfalls.

Does this man live in the real world? Of course not - he's an Ivory Tower geek from Princeton who is now a lapdog for the clown-posse in DC and the banksters on Fraud Street.

He prattles on... "The outlook for inflation is also subject to a number of crosscurrents...blah, blah, blah."

Uh-huh, here's one of the crosscurrents you fool...THE VALUATION OF THE US DOLLAR! With the US dollar plummeting, have you noticed gasoline prices shooting higher? Oops, there again goes that "income growth" idea...Aaand it's gone.

In the end, this cartoon captures what Bernanke really cares about...

If Helicopter-Ben really wanted to "help ensure that the dollar is strong and a source of global financial stability" then he would DO something about it rather than blather on like the Fed-heads love to do. Here's an idea - raise interest rates to 1.5 or 2%. Holy crap - SAVERS might even get paid to save their own money, thus providing money for future investments.

A 2% interest rate would end the dollar-carry trade and the ever increasing commodity prices like oil & gasoline. If the banksters can't survive with a puny 2% interest rate - screw 'em. They don't deserve to survive.

Thin the heard!



Previous Day's Trading Room Results:

Trade Date: 11/16/09

E-Mini S&P Trades*
(before fees and commissions):



1) OTF buy @ 10:12am at 1107.75 = +2.00 (1 lot)

2) Algorithm positions (9)

3) "Reading the Tape" positions (10) ...combined Secret's, Algo, & "Reading the Tape" total...+13.00



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