For The Good Of The Country
Ya think Jesse’s a bit skeptical of this rally?
Guess which two Wall Street banks were acting as informal agents of the government in order to support the bond and stock markets and reinflate them?
Two big banks that are showing record trading profits, and a small group of enablers and assistants.
Exchange Stabilization Fund – wise, its a near layup when the US fronts you the money and then works with you to take the markets higher. Especially when it is on thin volumes based on ‘news’ which you help to create and control via frequent calls to young Tim who is your coordinator, in addition to all your other well-placed backchannel sources. You get a heads up, you use the futures to prop the markets. You need some good news, some can be arranged. Just like the good old days when Timmy was riding herd on the NY Fed desk.
All for the good of the country. And if you happen to make a billion per month in trading profits, well, that is the price of freedom for a job well done. Besides, a lot comes back in lobbying and campaign contributions. And you get to be rather porky and demanding about new banking and derivatives regulations because after all, you have a job to do and if they won’t let you do it, well its uh oh.
That’s what we hear, rumour-wise. Makes as much sense out of this as anything. How about you? Max Keiser thinks it is a fraud, as he describes here.
He’s got links to Dylan Ratigan videos on the subject as well.
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