skip to main |
skip to sidebar
The buzzword for today is orderly, as in an orderly default for Greece, which is what the Street put forward as a means to squeeze the short interest and rally stocks today, although they faded a little bit into the close.
The US economy is slumping and the political leadership is dysfunctionally obsessed with campaign contributions, so optimism appears to be a bit misplaced.
Continuing intervention ahead of the FOMC and ECB actions.
Markets are in a range, waiting to see what happens in Europe, and with the FOMC next week.
"There are no markets, just interventions."
Chris Powell, GATA
The pampered princes on Bloomberg today suggested there was selling of gold to 'raise capital' today, and that selling was being done by 'central banks.' Perhaps they need to meet some margin calls. lol.
You just can't make this stuff up.
Another QE is coming. The banks are dying on the vine and need another stealth bailout to maintain the bloated standards to which they have become accustomed.
I think the Wall Street crowd have gone barking mad, and imagine themselves to be veritable Bonapartes of the world economy.
And the reintroduction of their hubris to reality is coming and might be rather messy, as it will probably involve hitting some wall, and the limitations to their will to power.
But at the time of reckoning, 'no one will have seen it coming' and those responsible will feign ignorance and non-involvement. And that is the way of a national madness, and a failure of governance.
This is a world ruled by insane people doing insane things. I think they know something is wrong, but just do not care as long as they are getting their way.
