Saturday, May 07, 2005

A desperate attempt to save The Ship

This is not the way the markets used to trade.
This is not the way that traders, the public and
funds trade. There is no reasonable way to
explain it without positing the existence of a
major player with a vested interest in keeping
the market from falling. And there is no private
or public player big enough to do it and
consistently get away with it. In light of the
Executive Order and Heller's 1989 ideas, one has
to conclude that the government is involved.
...
Does it matter? Is it wrong? Shouldn't the
government maintain order in the markets? We
could go on for days debating the "morality" of
it but it doesn't matter. What does matter is the
fact that this IS going on and it's having an
increasingly large impact on our investments and
market opportunities. In fact, it's eroding the
quality of both. Long-term interest rates,
stocks, gold and other markets have displayed
narrow bands of movement for years. Longs aren't
making money. Shorts aren't making money.

The Fed gave up (along with the rest of the worlds'
'Feds') controlling currencies some time ago so
they found The Last Stand in the stock market.

It too will get out of control, and what a passel
of dumb fucks they'll look like when it's all over.

Hardly anyone will know why or how it happened.

The currency markets transact $1.5 trillion/day.
This is huge compared to the bond and stock markets.
The daily trade volume on the NYSE is only $50
billion.

See what I mean?

The currency markets became too big to control.

So will they all when the stampede begins.

Is it wrong, what they're doing?

It's your money they're fucking with, ain't it?

What do you think?

Read the whole story.