brambleblog

The powers-that-be on Wall Street and the Fed/Treasury have been busy bees in the past 24 hours. Following the FMOC announcement yesterday (50 basis pt. cut in both the Fed funds and discount rate), markets seemed to signal approval of the Fed move, but the post-meeting jump was promptly flushed by selling pressure before the final bell. Upon closer inspection, one finds that the buyers were well-orchestrated Wall St. insiders with tight Fed connections. Everyone else was/is a seller. Thus, today's open (thursday) was not a surprise - sellers logged sell orders overnight and the Wall St. Cartel needed several hours this morning to bid/buy market prices back to the level of yesterday's close. Having learned on Wednesday afternoon that markets would not be fooled into any sort of rally, the powers-that-be engineered their own rally, taking markets further up and beyond any rational level. Today's market move way unilateral - the Dow climbed 400 points from open to close without taking a breath. The day's big winners? Financials and Consumer Discretionary - easily the two most malignant sectors in the market. In addition, the move occurred in the face of new, sour inflation and jobs numbers. Thus, any objective and rational market observer must conclude that deep, systemic (and political) manipulation is but another tool in the Fed/Wall St. toolbox. Obviously the bonus (and severance) packages on Wall St. take priority over little things like free markets, ethics, merit, people, health, and the future.

But the scariest element of this wholly unconstitutional and illegal equation is the fact that all of this has been encouraged, brokered, and approved by our government, it's appointed operatives, and elected representatives. Our financial system, currency and government are rotten to the core... the evidence is right their on today's ticker tape.

-- MP