Goodfellas and Goodgals, by Robert Gore
For a while, it was believed that the rate hike would happen this month, but Snow White Yellen and her merry band of intellectual dwarves found excuses to delay it. Their explanations are couched in terms of the labor market, inflation expectations, and actual inflation, but the real reason is that nobody wants to bring to an end the ongoing theft known as the Zero Interest Rate Policy (ZIRP). Economics has nothing to do with the Fed putting its thumb on the scale of interest rates; rather it is designed so the banks and Wall Street that have captured it will make money. That’s not the reckless rant of a conspiracy-theorizing populist. SLL is a staunch defender of capitalism and the self-interest that is its foundation, but banks stopped being capitalistic institutions over a century ago. What follows is a cold-blooded analysis of the deterioration of banking into larceny.
This is an excerpt, the full article can be accessed via the link above.
This is an excerpt, the full article can be accessed via the link above.
Sorry it took me so long to get back to you. Don't keep a lot of money in banks, have some cash, gold, silver, and guns on hand, and the usual prep-type materials (water, food, med. supplies, etc.). There are all sorts of trading strategies one could employ in financial markets. However, they all involve risk, especially since they entail bets against central banks and governments, who don't play fair. Many of the strategies employ derivatives and illiquid instruments. Since I no longer have full-time access to a Bloomberg machine and markets, I have very little exposure to US equity markets, and longer term, I'm much more bullish on Asia than Western nations. See my post "Trading Places" and the link therein.
I would recommend "The Death of Money" for some good reading and it adds another motivational fore for what you see the countries of the world doing which appears and is financial suicide.
http://www.amazon.com/Death-Money-Collap...
I found it enlightening and very well written. I do not agree with every point the author brings up but it has some well thought out ideas and good research behind them. Worth the time and very applicable to this article.
Thanks for taking the time to write it, it is a good read.
The fix is in. The public has been taken collectively to the cleaners. Advice on how to best prepare for the worst?
Respectfully,
O.A.
Me dino never had that thought before.
Makes you wonder
Under those covers,
Whose porkin' who
In the trough of the nation.
Whose paying whom
When the lights go out.
In DC town.
In The trough of the nation
Under those covers
When the lights go down
I was thinking of the ETF that's short Treasuries. I'm not too sure how it's structured, but I imagined it benefits from rising yields in the 5-year range, not Fed Funds rate. I could be completely wrong on that; haven't read prospectus. I agree rates must rise, and I don't want to be fighting the Fed when it happens.
I don't understand this since every call purchases was also written.
BTW, if I were wrong on those calls, the market would have gapped up another 1%. Oh yeah, it did.
So I'm wrong a lot, but there's always someone out there on the other side of the position.
2. Bernanke
3. Most everybody except market makers are often wrong on calls. It's the few you get right, hopefully in a big way, that make up for the losses.
4. Up irregularly, probably with a steeper yield curve. Creditors will increasingly demand interest rate compensation for sovereign risk. If by TAPR you mean the Fed raising its Fed Funds target, that should have occured long ago.
2. Has anyone at the Fed referred to the Wealth Effect as a positive part of monetary policy, rather than as a side effect of avoiding unused production capacity?
3. I wrote SPY calls last week after the market gapped up. Since I'm often wrong that action on my part may be a bullish signal. :)
4. What do you predict for longer term rates? Steepening yield curve? Should we be in TAPR?
Discourage saving, encourage risk "investing" in facade companies, and destroy the life savings of millions of the middle class.