Yesterday I said “Monday’s ‘action’ contained a very slow early decline followed by an equally slow, but longer, rally. The volume was very low and the total range wasn’t even ten points.
“What was interesting, however, is the fact that the Federal Reserve’s market manipulation via POMO is in overdrive: there were two POMO operations Monday and will be two more Tuesday. Outside of that, there was no real news to discuss.”
Today was quite similar in that the markets were DEAD. Volume is abysmally low; however, this is to be expected the week leading into Christmas. The markets are closed this Friday so, with bonuses in hand; the banksters have taken the week off.
Legalized theft (thanks to Congress) is apparently tiresome, thus the need for an entire week off. OK, let’s make that 2-weeks off. Surely after spending time with the family in the Hamptons before Christmas, the bankster’s mistresses will need a little lovin’ in New York City before New Year’s Day. Ah yes, all is well in the world of the thieving bankster class – the Kings of the Kleptocrats.
Of course Congress should only receive some of the praise for allowing the banksters to live so well (and no indictments), the majority of the praise should be heaped upon the Federal Reserve Bank in general, and Ben Shalom Bernanke in particular. With QE1 we know that the FRBNY bought over $1 TRILLION of junk loans (MBS, etc) from the banksters - indirect bailouts if you like. POMO is now buying $300-billion of Treasuries from the poor banksters, you know, just in case they need to free up some capital in order to keep bidding up AAPL and AMZN among many others.
The newly started QE2 program is working to pump another $600-billion to the same banksters who are trying to illegally foreclose homes on those that bailed them out all across the country. QE2 is buying more Treasuries from the poor banksters, you know, just in case they need to free up some capital in order to keep bidding up AAPL and AMZN among many others.
To keep the out-in-the-open rigged Ponzi scheme running at full tilt, the Fed conducted two POMO operations Monday and two more today. Once the results of Tuesday’s second POMO operation were released, we found out that the US Federal Reserve Bank now owns more US government debt than any country in the world – including China – which is more than $1-TRILLION. Oh, and that doesn’t include the $1,000,000,000,000.00+ garbage loans the banksters offloaded to the Fed during QE1.
But don’t worry folks; Zimbabwe-Ben said that he is 100% certain that he can keep this under control. The problem for me though is this: Helicopter-Ben has not been right about anything yet! Like Greenspan, he did not see a Nasdaq bubble in 2000; he did not see a housing bubble; he did not see Lehman or Bear Sterns as massively over leveraged; he did not see the 2008 crash in advance.
He is a collegiate Ivory Tower egghead with no real world experience – a perfect central bankster, I guess.
Thank goodness this time he’s “100% certain” that he won’t be wrong. I guess all of the other times he was only 99% certain.
His hubris will soon be legendary.
“What was interesting, however, is the fact that the Federal Reserve’s market manipulation via POMO is in overdrive: there were two POMO operations Monday and will be two more Tuesday. Outside of that, there was no real news to discuss.”
Today was quite similar in that the markets were DEAD. Volume is abysmally low; however, this is to be expected the week leading into Christmas. The markets are closed this Friday so, with bonuses in hand; the banksters have taken the week off.
Legalized theft (thanks to Congress) is apparently tiresome, thus the need for an entire week off. OK, let’s make that 2-weeks off. Surely after spending time with the family in the Hamptons before Christmas, the bankster’s mistresses will need a little lovin’ in New York City before New Year’s Day. Ah yes, all is well in the world of the thieving bankster class – the Kings of the Kleptocrats.
Of course Congress should only receive some of the praise for allowing the banksters to live so well (and no indictments), the majority of the praise should be heaped upon the Federal Reserve Bank in general, and Ben Shalom Bernanke in particular. With QE1 we know that the FRBNY bought over $1 TRILLION of junk loans (MBS, etc) from the banksters - indirect bailouts if you like. POMO is now buying $300-billion of Treasuries from the poor banksters, you know, just in case they need to free up some capital in order to keep bidding up AAPL and AMZN among many others.
The newly started QE2 program is working to pump another $600-billion to the same banksters who are trying to illegally foreclose homes on those that bailed them out all across the country. QE2 is buying more Treasuries from the poor banksters, you know, just in case they need to free up some capital in order to keep bidding up AAPL and AMZN among many others.
To keep the out-in-the-open rigged Ponzi scheme running at full tilt, the Fed conducted two POMO operations Monday and two more today. Once the results of Tuesday’s second POMO operation were released, we found out that the US Federal Reserve Bank now owns more US government debt than any country in the world – including China – which is more than $1-TRILLION. Oh, and that doesn’t include the $1,000,000,000,000.00+ garbage loans the banksters offloaded to the Fed during QE1.
But don’t worry folks; Zimbabwe-Ben said that he is 100% certain that he can keep this under control. The problem for me though is this: Helicopter-Ben has not been right about anything yet! Like Greenspan, he did not see a Nasdaq bubble in 2000; he did not see a housing bubble; he did not see Lehman or Bear Sterns as massively over leveraged; he did not see the 2008 crash in advance.
He is a collegiate Ivory Tower egghead with no real world experience – a perfect central bankster, I guess.
Thank goodness this time he’s “100% certain” that he won’t be wrong. I guess all of the other times he was only 99% certain.
His hubris will soon be legendary.
Trade Date: 12/21/10
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