Manipulation, powered by the FED and its brotherhood

I watch the market since I was a little kid, reading the economics section every morning as Sports were on the other side of the newspaper and my father started every morning with the Sports section … and I trade fulltime since 1982 … so I traded the Paul Volcker markets … the whole Greenspan era … and now Ben Bernanke … Helicopter Ben …

And I tell you … This guy is different … at least different … you are always torn between two pictures … is he the helpless guy, not up to his job, being used by the media, by the market heavyweights, by his collegues (if you hear him speak, you can feel him anxious, weak, unconvincing) … or is he the one who tries to be more clever than the markets, misusing his knowledge, mis- and desinforming the markets … abusing his power, rigging the markets, changing the cards overnight … IMHO … he deserves to be REPLACED …

Greenspan was always reliable … he remembered the other day, what he said, he created “new” word combinations and led the markets … I remember “irrational exhuberance in stockmarkets” and the “Bondmarket Conundrum”

But Bernanke is the opposite … he is not reliable … quite irresponsible and unpredictable in his actions … and often the other day does not remember what he said or remembers things, he should have said the other day … What a bad image for the once most important central bank of the world. He should take lessons from the ECB!!!

It started right away as he took over the FED helm …

Do you remember his infamous talk at a dinner with CNBC’s Maria? It sent the stockmarket just the other way the other day…

And he keeps his missteps coming …
Issuing statements that the FED sees no reasons to be worried, than lowering rates BETWEEN MEETINGS on a TRIPLE WITCHING DAY … this is STUPIDITY OR FRAUD … where is the authority which controls him??? By the way … Goldman Sachs and other members of the infamous PPT (plunge protection team) were HUGE BUYERS the DAY BEFORE AND ON THE MORNING before the cut … and then … a bit later you can hear and read … THEY WERE INFORMED!!! A SCANDAL!!! And nobody takes action …

THE FED LOSES CREDIBILITY EVERY DAY!!!

Now … FED lowers rates … as recent as yesterday … by 25bps … and by doing so, DISSAPPOINTING the markets which waited for a proper addressing of the credit crunch … look at the LIBOR rates … no doubt that there is a problem … markets tanked immediately, losing close or even more than 3% …

Now … rabbitt out of head …

Wall Street Journal and Financial Times come out with articles THE NEXT MORNING … that the FED might(!!!) change something about providing the markets with liquidity … and on CNBC appears a former Co-worker of Mr Bernanke, saying, he is quite sure, that the FED will NOW do something BETWEEN the meetings …

UPS … why do they have meetings then??? Why do they issue statements??? RIDICULOUS or RIGGING???

Is he trying to set markets short first, to have then more impact on the announcement itself? … Don’t tell me, that Bernanke did not know about today’s announcement yesterday …

and to top it off … who magically did not buy ahead of the FED rate cut??? Who magically bought aggressively within the last hour yesterday? Goldman Sachs … how did you guess that???

Sometimes it is really hard to believe, what one sees … and between you and me … I have not the slightest doubt, who bought the Dax today aggressively from the start … and who virtually put it EXACTLY at the second of the NEWS at the point of a TRIPLE resist and let the STOPS POP …

SO … for me … Bernanke made it possible … CHINA in my eyes is now more credible and more reliable than the FED … WELL DONE … Merry X-MAS.

From now on … until the chairman changes … whatever the FED says … No, thank you!

Tags: Bernanke, China, FED, Goldman, Greenspan, Volcker

This entry was posted on Mittwoch, Dezember 12th, 2007 at 21:14 and is filed under FDAX. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.