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“And you have to wonder whether these women, one of whom worked for the Carly Fiorina campaign, and then shortly thereafter Ted Cruz pays Carly half a million dollars. Ted despises Carly, and Carly despises Ted. What is the $500,000 for? Can you say hush money?”
"Every move you make is being monitored, mined for data, crunched, and tabulated in order to form a picture of who you are, what makes you tick, and how best to control you when and if it becomes necessary to bring you in line."
"Now The Fed has a problem - solid inflation, solid wages, solid jobs, and no global turmoil - we are going to need some turmoil soon or rates are going up."Gold prices ... rigged! Now way. Say it isn't so. Impossible.
"We do know, however, that it is a very busy week for unexpected, emergency meeting for the Fed, because according to the Fed's board meeting website, today at 3pm the Fed held yet another previously unscheduled "meeting under expedited procedures", only instead of discussing rates this time, the Fed talked about institutions, infrastructure and financial markets."I mean what more can you say than this -
"We also will never know if there is any coincidence between these two meeting and the fact that just after they took place, the S&P went from red on the year to fresh 2016 highs in under two days."
"As such asset prices (i.e. equity markets) and asset price risk (i.e. equity volatility) are far bigger concerns. So all you need for a balance sheet crisis is declining equity markets, a phenomenon the Fed appears desperate to avoid."and
"Well that, and another reason: as of this moment one can measure the daily credibility of central banks by whether stocks closed higher or lower; too low and everyone starts talking about how CBs no longer have credibility and how they would rather Yellen et al would stop micromanaging everything... and then everyone quiets down when stocks surge back to all time highs. Alas, this means that the markets have not only stopped being a discounting mechanism (or rather they only discount what central banks will do in the immediate future), but have also stopped reflecting the underlying economy a long time ago, something will remains lost on all of the "smartest people in the room.""
"And then remember when Alcoa beat last quarter on non-GAAP EPS of $0.07? Well, that was just quietly revised to $0.04."