-- Published: Thursday, 20 August 2015 | Print | Disqus
It’s always refreshing to see the stock market get the crap kicked out of it, even if it will take a 10,000-point fall in the Dow to cast out the thieves, thimble-riggers, broad-tossers, carny men, grifters, mountebanks and child molesters who have ruled the global banking system for the last umpteen years. The sleazeballs tried to run up stocks yesterday on the latest Fed ‘news’ — and what a shocker it was! Seems that the ‘done deal’ calling for tightening in September has been undone yet again. Surprise, surprise. We have stuck to our guns on this one, shouting from the rooftops for the last two years that the Fed will NEVER raise rates. We didn’t change our tune even when two Fed poobahs, in separate speeches over the last six weeks, said that all the ducks were in order for a rate hike in September. We tweeted to see if anyone would lay us odds for taking the ‘don’t’ side of the bet; alas, there was nary a response. Seems even the true believers no longer take the Fed and its ‘tightening’ charade seriously.
Time to Laugh at Yellen?
Someone in the Rick’s Picks chat room predicted that Yellen would wait until U.S. stocks come down a bit more before she blames China for the Fed’s latest waffle. We predict the rate hike will be put on indefinite hold this time, returning to the Fed policy, if you can call it that, of recent years: wait-and-see. It remains to be seen whether Yellen’s shills in the news media — ignorant, lazy hacks to a man — will find the gumption to laugh at whatever it is she says.
In the meantime, the forces of deflation that we’ve been writing about since the early 1990s are once again approaching critical mass following a six-year hiatus. T-Bonds are rising off a solid-looking base, and commodities are plummeting. The price of oil is falling so steeply that even we were surprised at how quickly crude oil futures took out a substantial ‘Hidden Pivot’ support near $42 that had served us well this year. All that remains to turn the banksters and their thieving, crackpot schemes into confetti is a sustained rise in the dollar. This will occur when the supposedly smart money realizes that more months of Fed looseness will not be inflationary; rather, those months will eventually be seen as a failed attempt to hold back global deflation. The collapse will be fueled by the implosion of the quadrillion dollar derivatives market — quite a bit larger and more powerful than all of the central banks acting in concert to counteract it. Click herefor a free two-week trial subscription to Rick’s Picks that will give you access not only to daily trading ‘touts’, bulletins, updates and impromptu trading sessions, as well as to a 24/7 chat room that draws veteran traders from around the world.
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.