Zenyatta, that charismatic filly, is my hero. She goes home healthy and that's all that matters. She is still my hero. She is pure and performed admirably... albeit a nose short.
On Wednesday, the FED announced their latest monetization of our nation's debt. That is "econalese" for counterfeiting. Here is the distinction. If you need a few thousand bucks to scrape by and print some money, the Secret Service will charge you with felony counterfeiting. When Bernanke and the FED need 600 billion, they simply print it up and call it quantitative easing. When the FED counterfeits it is legal because they call it something else. They buy treasuries from their member banks and give them this made up money. The member banks then use that phony money to buy equities or stock and thus create the illusion of fiscal health in our stock market.
Gold rocketed skyward in parabolic fashion to 1400. Oil, which is priced in dollars, strengthens when the dollar goes down. It's closing in on 90 a barrel. Oil and gold have an inverse relationship to the dollar. That is why there is no such thing as a "gold bubble." Gold is as strong as the dollar is weak. Simple as that. The more counterfeit currency you introduce, the greater oil and gold prices spike. In fact all commodities right now are "redlining" with the exception of the livestock complex and natural gas.
Nothing pisses me off more than the Chinese making fun of us. Why? Because the bastards are right- that's why.
And we have the audacity to point out China's "human rights" violations while we allow the FED to steal us blind? I guess counterfeiting, racketeering, and stealing is fine. Economic slavery, pledging our future work product as collateral- is apparently not a human rights violation as long as that unelected 4th arm of government deems it necessary.
So just who is the beneficiary of QE 2? Banks. Wall Street. Traders. The rest of us dumb fucks are going to paying for it at the pump. We are going to pay for it in rising commodities. We are going to pay the interest on treasuries that the FED will issue in the greatest check kiting scheme of all time. Taxes. When in the fuck did it become the FED's job to stop deflation or create jobs? Is that in the Constitution somewhere? Did I miss that? Well, apparently this un elected body has taken those duties over whether they are authorized to or not. From their website.
MissionThe Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
That last line is worded incorrectly, it should read like this... Over the years, our role in banking and the economy has enlarged to include generational debt slavery, funneling money at your expense to our insolvent member banks, and hosing you. We run this place and there ain't a damn thing you can do about it. Capiche, suckers?
There... I fixed it for you guys.