by John Galt April 15, 2012 10:15 ET Don’t worry, be happy. The markets will turn around just as soon as Uncle Ben proclaims “We are the World” (Catchy song title, eh?) and buys every equity from any exchange on the planet Earth. The Saudi Arabian TASI seems to indicate further pain for Asian and US equity markets on Monday: (click on thumbnails to enlarge graphs) With the Israeli TASE down 1.80% it doesn’t look like any serious relief is forthcoming when Japan...
By John Galt December 16, 2011 – 05:30 ET A short note on this morning since it is quad witching and who knows where this market will end up today…. 1. 1220 is overhead resistance on the S&P 500 so look for the PPT to be quite active to kick start the Santa Claus rally. 2. Gold had best find a way to get back over $1600 or for the short term the break down will continue towards the $1533-$1540 level. 3. A dead...
By John Galt November 3, 2011 – 13:00 ET Instead of making your teeth itch and your brain hurt, the bottom line is this: There will be no more Quantitative Easing in 2011. This leaves the American economy wide open to any liquidity shocks created by the Eurocircus which is now entering its most dangerous phase as the U.S. central bank and government fail to understand just what it means not only to subjugate a population against their will, but how to finish the...
By John Galt November 2, 2011 – 07:45 ET (chart from INO.com) If gold is up, the the Bernank must be speaking today. At 12:30 ET the FOMC decision will be released and it would appear that they are about to change the ZIRP policy from panic mode to cruise control as they shift the responsibility for inflation and employment growth to the fiscal mess in D.C. and off their list of responsibilities for the immediate future. Add in the fact that they have...
By John Galt September 22, 2011 – 21:30 ET Ah yes, who can forget that Jib-Jab video I created back in 2009 with the dancing Bernanke: Well, old Ben just danced America and the West into a major recession to validate his theories and seize more power for the banksters this week. The move in the markets today was brutal, sharp, but not terminal. The headlines from some of the mainstream financial media reflect that fact: Bloomberg 9/22: Stocks Fall But Investor Panic Could...
By John Galt September 12, 2011 – 02:10 ET Uh, this morning could get brutal….let the beatings commence… Just wow. This is getting ugly or I need to consume more cigars and adult beverages…. FTSE, DAX and CAC Seen Sharply Lower on Greek Debt Fears Published: Monday, 12 Sep 2011 | 1:54 AM ET FTSE -74 DAX -76 CAC -46 European stocks are expected to fall sharply at the market open on Monday amid renewed fears about the euro zone debt crisis. ian stocks...
By John Galt August 17, 2011 – 06:55 ET The Bloomberg headline and story says it all: Franc Gains as Switzerland Stops Short of Peg Apparently the Swiss National Bank has not been in consultations with the Japanese Central Bank. The one year chart for the Swiss Franc speaks volumes on the failure of intervention by central banks and the inability to control daily, weekly, or monthly fluctuations. The addition of liquidity to dilute the Franc is akin to wasting one’s time by asking...
By John Galt August 9, 2011 -10:45 ET The economic circumstances which the Federal Reserve, Wall Street, and Washington, D.C. have been living in was shaken by the events of the past ten days thanks to the realization that both Main Street USA and Europe are in far worse condition than their delusional public statements indicated. Thus the crisis de jour has come upon their doorsteps and the reaction from Washington was to pass a new debt ceiling bill which does nothing to reduce...
By John Galt August 9, 2011 If Satan’s favorite stock suddenly spikes after 1 p.m. towards the 125 level then QE 3 is a go. However if it suddenly tanks below 117, the entire market will follow as that means there is no sound easing plan to be issued by the Fed in their statement at 2:15 and the market will crater in kind. Just watch this sucker today for a clue as to where the markets will be heading and how the money...
By John Galt August 9, 2011 – 03:55 ET I couldn’t sleep as something was bugging me and sure enough it was a Bernanke mosquito that flew into my house and took a bite out of my wallet as I attempted to slumber. When I was last on these pages just a little over 3 hours ago, the S&P ES futures were down over 20 points, Dow futures down over 245, and world markets were gripping for a nightmare today. I am theorizing that...
By John Galt August 5, 2011 21:31 ET For immediate release August 5, 2011 Agencies Issue Guidance on Federal Debt Earlier today, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA . With regard to this action, the federal banking agencies are providing the following guidance to banks, savings associations, credit unions, and bank and savings and loan holding companies (collectively, banking organizations). For risk-based capital purposes, the risk weights for Treasury securities...
By John Galt August 5, 2011 The efforts by the JCB and SNB appear to have started to flail wildly and the lack of follow through by the ECB to save the markets was noticed around the world yesterday prompting and accelerating the currency and solvency awareness crisis worldwide. Watch the chart of the EUR/CHF after 7:30 a.m. ET and if it turns up sharply odds are the Fed, ECB, and SNB decided on a coordinated intervention on behalf of the European banking system...
By John Galt August 3, 2011 Published right around 1:30 p.m. at this link at the Wall Street Journal and Marketwatch.com to get the desired effect. Guaranteed to get a rally going. No facts, just more Fed bull droppings. You watch, you decide: Are the American financial markets rigged or what? If you say “no” you are too stupid to be reading this blog. For what it’s worth, it didn’t work in 1931 either.
By John Galt July 5, 2011 On June 25, 2008, the Federal Reserve Open Market Committee released the following statement after their meeting (Bold emphasis added by me): The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Recent information indicates that overall economic activity continues to expand, partly reflecting some firming in household spending. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing...
By John Galt June 22, 2011 I am not believing what I have heard from the head Central Banksters. This is what the powers that be were worried about, Professor Ben going out and cratering the world with his words. This is without a doubt like watching a 40 car NASCAR crash and this one statement sums it up: “We don’t have a precise reading as to why the pace of slower growth exists.” No damned way. He can’t be honest and say...
By John Galt June 22, 2011 Seriously. To smoke crack cocaine apparently requires human intervention. Since I have never indulged like Charlie “I’ve smoked 7 rocks” Sheen, I can’t proclaim to be an expert, but I am pretty sure you need some sort of device and a lighter. Straight from the release from the FOMC just published for your amusement and bewilderment. First the mind blowing GDP projections which would be hilarious if I were not a citizen of the United States: And...
By John Galt June 22, 2011 Ah yes, the sterling purity of our Federal Reserve building which contains the brilliance which has brought this nation from greatness into a state of fiat currency slavery in less than 100 years. Today is Fed Day as the Bubblevisions call it, the day when the Fed reveals its interest rate decision in less than fifteen minutes from now. I’ll post the entire statement here but I warn my readers now: There could be a surprise in...
By John Galt June 13, 2011 The conspiracy theories are spiraling out of control but the reality of the failure of debt monetization and decades of “quantitative easing” since 1973 are starting to impact the planning and execution of the Federal Reserve from that of proactively attempting to influence economic outcomes to one of self-preservation. The apparent program for decades was for the Federal Reserve banking system to expand its reach far beyond America’s shores and work with other banks to create an international...
By John Galt May 16, 2011 Apparently my listeners and readers have not been paying attention. If you were listening to the idiots on the various financial infomercial Bubblevision channels then you sold all of your gold, silver, farmland, and spare food in your bunker and bought as much stock in RMBS, BAC, or C. Heck, I figured that my listener and readership would suffer because nobody would listen to a bunch of bloggers and talk jocks who warn everyone about the ongoing economic...
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