Post FOMC and the EU summit there is a dearth of market news to report. So a blissful short day, and a needed respite for market participants until the next crisis.
Of note in today’s news is the Goldman Sachs director, a Hebrew from the RSA, ‘gifted’ with a free ride to Stanford University, and a Blankfein physical twin, who blew the whistle on what a rip-off , of its clients, Goldman Sachs is in the NYT. While it is very commendable what Mr. Smith did, Goldman Sachs has an army of PR flacks, lawyers and the mass media at its beck and call to mitigate the damage. This must be particularly distressful for Lloyd as the number of ugly and evil men in the world he can keep company with is limited. Lloyd even opined how disappointed he was in his protege.
People do business with Goldman Sachs, because it has an enormous book , ability to finance deals, loan money, and because of its political connection to Governments and Central banks, and people hope Goldman’s dirt can help them do their dirt, or they hope to land a consulting job there like many members of the USA Senate after retiring, and finally as they have one heck of a sales force, that could sell ice to Eskimos, with the morals of brood of black mambas .
It’s clients are little more than fish attracted to the security of the big fish and only later do they find out they were eaten alive and are in the proverbial belly of the whale, or in Goldman Sachs case, the belly of the shark. The only thing that will change Goldman Sachs is criminal prosecution and putting its operators like Bob Rubin, Hank Paulson, and Lloyd Blankfein in jail for their many fraudulent products , or Goldman blowing itself up through its sheer arrogance and greed. They are not know on the Web as Goldman Sachs-666 for no reason.
Chinese Premier Wen Jaibo tossed water on the global equity markets by saying housing prices were too high, affirming the Yuan was going to stay where it was at, and by threatening the Chinese rich-the old communist standby. He is on his way out politically so perhaps this was his swan song as China’s corporate elite take control of the Party, and an effort to try and redirect the Communist party to more ethical behavior and away from copying the USA crony capitalism system.
China has become like the USA a winner take all society. Where if the playing field was level that would work as long as society operated on Christian principals ,but the playing field with FED, and a lack of Christian ethics in Chinese and American schools and society is hardly fair, and in fact is highly skewed towards the ruling classes. There is even more class mobility statistically in England than in the USA right now.
I do think there is a ‘break away’ society in the USA and Europe, with technology, life extension and many advanced medical treatments simply only available to the Royals-Banker-Corporate -Political-Legal-Academic elites. When these Hollywood types, if they are not from generational satanic families find out about it like Angelina Jolie, then they join it and trade their sexual services for whatever gain they can obtain. Another very conspicous Hollywood example would be the Austrian Oak, Arnold Schwarzenegger and his business connection to Jacob Rothschilds and Warren Buffet. The NWO loves actors like Ronald Reagan as acting is largely lying and they need evil people to appear good to accomplish their evil.
One extreme disadvantage of Globalism is much higher prices for the poor and Americans. I happened to be at the lumber yard and rough, non-heartwood redwood for a 2x12x12 was staggering 30 dollars. Pecans which used to cost 2 dollars a pound are now 6 dollars a pound. Prices continue to go through the roof for agricultural inputs such that I am stock piling several years ahead.
Clearly we do have massive inflation caused not only by the FEDs monetary largesse to their friends but by the ability of the Chinese to pay more than Americans who have a 25 pc unemployment/underemployment. The only beneficiary of Globalism has been for a trading nation like England at the center of it all due their refusal to work and Communist China and the SP500 and the commodity producing nations like Canada and Australia. The big loser of these Globalist NWO policies have been the American people. Globalism is totalitarianism and they are on an equal footing of evil with the Communists.
And just think import prices are only up 5.5 pc this year and the trade deficit is back to only 600 billion a year. A trade deficit on many levels is far worse than a budget deficit as with the trade deficit you’re selling acreage off the family farm to stay afloat.
In the political theater, the 1.5 trillion dollar deficit a year man and his boss Cameron had this to say.
WASHINGTON (MarketWatch) – The dollar’s status as a global reserve currency allows the U.S. more room than the U.K. to use fiscal policy to stimulate demand, U.K. Prime Minister David Cameron said Wednesday. “We’re not a reserve currency so we have to take a different path,” Cameron said at a joint press conference with President Barack Obama in the Rose Garden. Cameron and Obama stressed that they share the same longer-run goal of sustainable fiscal policy. “We want to make sure that we have governments that are lean and efficient,” Obama said
Santorum picked up 2 Southern States and Newt who vowed to quit if he did not win , lied and said (Shelly Adelson ) he would stay in the race.
The level of outright fraud by the media is surreal with fake poll being used to bolsters Obama’s case.Yet when you read Yahoo article when the allow comments about him only 20 pc are positive with many more truculent view of his performance than even the ZGR espouses.
England and the English people and their cousins from Israel have never had it so good under such an immoral, pagan man as Obama. Clearly Obama is Rothschilds favorite in the 2012 election as he is so, so anti-American and anti-christian. Cameron is no doubt telling him what he must do to stay in power in 2012 and planning the next war for Americans to die in.
In gold with the FOMC , there is no inflation here, the banking cartel continued to beat down gold and JPM probably pushed the dollar up to celebrate its incredulous payouts and dividends even as NEM was smashed and gold was pounded back down to 1650. Silver looked more like an industrial metal today at 32. The PTB will try and keep this gold bashing up through the election. We saw what a masterful take down of gold they did during the ECB LTRO QE2. I take this constant intervention that there are a lot of very desperate shorts here leaning on the Central banks to help them out. This is how JPM report record earnings and their 15 billion dollar share buyback, much of which comes from ‘trading’ profits.
Gold is waiting for the USE lending blip to subside, and for weak USE data. By the June meeting I expect QE3 to start, and it might come in April as neither China nor Europe are going to contribute much in the short term to growth as they deal with their own problems. Gold does not need QE3 to launch, just for the weight of of the USA deficits and debt to be punished. Right now common stocks have sway over capital flows as with globalism they are bringing a lot of cash down to the bottom line.
The EU was rather quiet today.
Today’s Prices- USA prices 2 hours to the close
New England/New Israel