Did anyone honestly believe "Helicopter Ben" would actually begin the process of removing the punchbowl? LOL! Juice it up, baby! Free money for everyone, no risk! $$$
It amazes me how all the talking heads on tv right now are saying "and when the fed "eventually tapers"..... "eventually".... yyyyeah.... sure...... now politics has direct control over making the market climb when they want it to....
Well, eventually they have to taper even if they don't want to. They'll overtake supply unless the US Govt. raises issuance. What a bunch of fucked up "experts" we have in the government and Fed. When this party ends it's going to be like a supernova.
Went to limits of net liq on gold and silver at oanda prior to Fed. On the assumption that the loss of Summers reinforced the addiction to (-) real rates. Better than I could've imagined. I am going to sign off now (permanently). GL to all.
Fed is slave to the stock market. The moment they TALK about tapering, the market doesn't react as well, thus causing the untaper with no end in sight. The only question is how many iterations of this talking about tapering and untapering we going to go through over the next number of years.
Only the FED has 1 trillion of other people's money to give to pigs in wall street. Guys like Buffet and the money managmenet firms. 90% of the market is long and who will they sell their paper for 85 billion USD cash. If I had 85 billion in cash USD, I wouldn't be buying bonds or hold cash making 1% and losing value. hence the bond buying is just creating money that doesn't exist and giving it to buy bonds and stocks. The bond sellers who sold their bonds are the banks, after they get the 85 billion in USD CASH. the market is suddenly increased cash of 85 billion and it goes to the market. hence you have high p/e multiples and stock values that are like 200% more than they should be trading at in the economy. taper has no effect in job creation or housing market. people were buying houses when interest rates wer 7% if they had jobs. it's jobs not interest that effects the job market. US like detroit, it's bad fundamentals.
Haha, I was long a 1700/1725/1750 weekly fly on SPX, so yeah, a bit. I was spoofed in email. Someone spoofed an elitetrader return header in Baron's name asking me to please leave ET. So clever, guys! (I'm Back!) and mofos I nearly doubled my spot metals account!