Read the Tuesday Afternoon Wrap-Up for 8/7/2012 and the Wednesday Morning Commentary for 8/8/2012
I have long written of the exponential increase of government intervention in ALL paper markets, such as stocks…
President’s Working Group on Financial Markets
…bonds…
Federal Reserve – Quantitative Easing
…currencies…
…and Precious Metals…
CFTC Commissioner Bart Chilton comments on the Silver Investigation
Moreover, I have highlighted the EXODUS of U.S. equity outflows for the past two years…
Surge in US equity funds outflow
…in response to a decade-plus of losses…
U.S. Stock Outflows: a 12-Year Grudge
…let alone, the wholesale shunning of “PAPER PM Investments”, as evidenced by plunging COMEX “Open Interest”…
…and Open Interest/Price, of both gold..
…and silver…
…let alone the abysmal performance of mining stocks, both LARGE…
…and SMALL…
This weekend, my good friend Mike Krieger did his debut interview with Lauren Lyster of Capital Account, in which he beautifully lays out the mindset of Wall Street investors, and why they are FLEEING the once venerable institutions charged with raising and distributing capital. Both Mike and I are in this group of former Wall Street analysts, having left due to disgust regarding conflicts of interest, market manipulation, and the lack of personal satisfaction engendered by such a toxic environment…
Debut Interview on Capital Account with Lauren Lyster – Mike Krieger
Wall Street and London’s “City” are a shell of their former selves, no longer engaging in “traditional businesses” – underwriting and Mergers & Acquisitions – as those businesses died long ago, the victim of a 12-year (and growing) bear market and recession. In my words from yesterday’s RANT, “Banks no longer lend, but speculate and steal.”
Thus, the only remaining Wall Street businesses are the government funded (via ZIRP) “carry trade” – itself, near death due to quantitative easing; HFT algorithms (can you say “NITE JUSTICE?”); and, generally speaking, trading on inside information care of government relationships since the ill-begotten, banker-driven repeal of the Glass-Steagall Act in 1999.
It took me an entire decade to understand the commandeering of financial markets – let alone, the irreversible bear that can ONLY end with currency collapse; and with each passing day, my advice has grown shriller. AVOID ALL SPECULATIONS, as the GREAT BEAR MARKET will destroy them all. And what few scraps the BEAR ignores, the PAPER MANIPULATORS will gobble up. The ENTIRE investing world is “LEAVING THE SANDBOX,” and the longer you stay, the greater the odds of going BANKRUPT!
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.
If Zero-Hedge actually acknowledged PM suppression openly and consistently as they should, they would be casting their lot with the PM “conspiracy” crowd. I think they are afraid of a loss of credibility that comes with the “conspiracy” label. That said, each one of us often faces the decision to side with truth or preserving reputation. As Solomon said 3000 years ago, “the fear of man bring a snare”.
Andy, regarding Glass Stegall, the Schmellnick Banksters are repenting of late. Seems they may be changing their minds. But don`t be fooled. They would gladly have their casinos dismantled ( under the guise of law ) so as to separate the old Glass Stegall banks from their post GS derivative pits. They want a new law giving them their failed banks back. Opps, a do over. Then they will take credit for saving the banking system through their schmedia. They won`t care what happens with the derivatives pit but rest assured the counter party risk will be left in some shell somewhere. They will figure out how to send us the bill later. Glass Stegall should only be invoked to apply to new banks or banks without casino risk. The others should all be left with the bed they made. So keep in mind, any version of Glass Stegall causing the casinos to dismantle is nothing more than another bankster bailout.
The new Glass Stegall will be delivered to you, whether voluntary by the casinos or mandated by new law, under the schmedia guise of SAVING THE BANKING SYSTEM!!! Be aware. The banksters are maneuvering themselves into another bailout.
Frank,
I have no doubt we’ll be SERVED a heaping helping of BS in the coming months and years.
However, they are NOT invincible. In fact, FAR from it.
Their Achilles Heel is REAL MONEY, as their FIAT will inevitably IMPLODE, making “bailouts” – and protection of the status quo – IMPOSSIBLE!
Andy