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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Mike Johnston who wrote (90782)	1/23/2008 8:50:46 PM
From: Proud Deplorable	Read Replies (1) of 110194

From Sinclair....like the way he expresses things.."Dear CIGAs, Data driven and gradualism died Monday. Ask yourself where the data-driven Bernanke Federal Reserve rate decision went as the last rate drop was clearly and without any doubt stock market driven. Ask yourself where the Bernanke Federal Reserve interest rate change gradualism went as you see a 3/4 point cut in the discount rate with more to come later. The answer is that both were thrown into the circular file on the floor because the Fed and the PPT know something you do not. The knowledge possessed by the Federal Reserve and the PPT is fragile and is the size of the Mount Everest pile of over the counter derivatives. All that stands between a total meltdown of what the BIS says is $450 trillion dollars nominal value of over the counter derivatives and financial armageddon is the equity market. Nominal value of a derivative becomes real value when the derivative fails to perform. That is an axiom. Tonight the PPT and Fed are giving each other high fives, but the game is far from over. The Formula states the equity market would trigger this action because it would remain strong UNTIL earnings cratered. Certainly the early meltdown of credit and default derivatives helped. Anything and everything will be done to hold the Dow Jones above or return it to the 12,000 level. There is NO level of liquidity or minimum interest rate number that will not be utilized as required and absolutely without restraint. Big money in the spec and investment world of Asia is recognizing this as the PPT and Fed pass around their high fives. Asia will unleash its terrific economic power, taking the price of gold to $1050 and onward to $1650. I don't think it, I know it. All the ingredients for the next chapter in the super bull market are now in place. I have been speaking to many of you for 37 years, others for 6. You must see that every item we have discussed for all that time has gathered at one spot, here and now. It is common that at the inception of such a condition many who have long awaited and anticipated this get themselves run out of their positions. In truth, there is nothing that can be done about this as it is simply a market reality. These investors have my empathy." jsmineset.com

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