- Dear Friends,
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- The Big Gun was rolled out today. The equity market had
steadied from its recent drastic action and Paulson picked up the baton
and ran with it. He is considered to be the best public speaker of the
Money Men.
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- The Bloomberg ladies were in total glee as the market
was up about 125 points. As Paulson said that not all financial failures
would be bailed out (now a major fib) the equity gang lost their instructions.
In the blink of an eye what was up 125 points was then down almost 200.
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- I imagine being a good public speaker does not carry
much weight in a situation that can be described as "OUT OF CONTROL."
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- If the Washington gang really does not want the financial
calamity now in progress, statements that suggest another major financial
entity could go bankrupt without a bailout should be avoided. If all powerful
Money Man persists in bringing up thoughts of Lehman's Chapter 11, the
equity market will have no bottom. Letting Lehman go after instituting
bailouts of others is the event that has given way to this "Out of
Control" condition.
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- Out of Control means just what it says. If things were
under control the equity market would not have given a Brooklyn Cheer to
the President of the USA and the Chairman of the Federal Reserve and there
would not have been an unprecedented drop of interest rates today.
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- Bank holidays are on the way.
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- Every major retirement fund is stone broke.
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- Most money management entities are full of treasury OTC
derivatives, not treasury instruments, and are therefore also broke.
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- The local banks are in the web of the Money Center banks
and are therefore in trouble they do not even know about yet.
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- The paperwork behind OTC mortgages is a total disaster,
adding more mess to an already major financial planetary killer.
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- I am sorry to say that there is no way to make this process
go away. The downward spiral will make its way to the bottom.
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- Gold will be the tool that finally stops the plague in
the form of the Federal Reserve Gold Certificate Ratio, revitalized and
modernized, but not until the public is in such a condition that it cries
out to God to stop the carnage. That will happen sometime before January
14th 2011.
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- Protect yourself, this is out of control.
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- http://jsmineset.com/
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