(For Those Who Say I Just Don’t Get It… Get This)
When I first began opining commentary in regards to the capital markets, Federal Reserve, et. al. I was originally greeted with calls of “conspiracy theorist” and much, much worse. Over the years all that “conspiracy” theory has been proven out to be prescient facts.
Way back when the idea that there was a “secret hand” behind many of the dumbfounding market moves, where a sudden sell-off was immediately reversed out-of-the-blue with no arguable catalyst. All there was to explain it was some next in rotation fund manager mugging a camera to say “This shows that there is plenty of investors willing to buy this market!” hogwash. This back then and up until not too long ago was still the norm.
This phenom back then was usually referred to by people such as myself as “The PPT” (The Plunge Protection Team.) This was howled and laughed at by the entire mainstream business/financial media. Today, that same media now howls and toots their collective horns to call it “Prudent monetary policy” also known as QE (quantitative easing.) But back then this “tin-foil hat idea” and a few more like it such as “The Fed monetizing the debt” or, “The Fed buying stocks” was also seen as a conspiracy laden, tin-foil hat crowd affairs that needed to be segregated to its own isolation i.e., They refered to all of us as “The Doom Crew.”
And yet today, I submit to you the following. To wit:
For those that may be lost on the irony of the above, or shrugging their shoulders thinking “And?” Believe it or not, you prove my point ever-the-more. Here’s why…
The lower comment from Mr. Gasparino’s feed is actually the first, which was the view that many had in response to the AG laying out a real anti-trust lawsuit today against Google®.
I mentioned this alert in real-time on the show today, because it was absolutely bazaar to those of us that understand the way things used to work which was – when a public company was even whispered to be under any eye of the authorities, the stock would immediately take a hit, which was easily explainable to the circumstances. i.e., law suits means expenses, sometimes “Bigly.” So it was an arguably easy assumption to have. But today?
Not only did it not go down in any major way, but it began to rally well over one to one and a half percent on the news. With a reaction like that, one should be sued every day, right? Right?
So, now if you read the top one where he implicitly states the reasons now becoming apparent i.e., “Fed plans to institute its emergence [sic] powers…” you now understand just how perverse, adulterated and perverted the once bastion of “free market enterprise and capital formation” has now become. To prove my point all one needs to understand is this…
The above is precisely what I said would take place years ago and was called a “tin-foil hat wearing no-nothing.” Now?
“It’s a “Buy! Buy!! Buy!!! Because the Fed’s got your back.” And today proves that to be so.
I would say “what a charade” but they don’t even bother to try and hide it any longer, for it’s now a telegraphed buy signal by the ultimate croupier.
But I will say this: What a complete farce all this has become.
At least I know that’s still applicable.
© 2020 Mark St.Cyr
Footnote: These “FTWSIJDGIGT” articles came into being when many of the topics I had opined on over the years were being openly criticized for “having no clue”. Yet, over the years, these insights came back around showing maybe I knew a little bit more than some were giving me credit for. It was my way of tongue-in-cheek as to not use the old “I told you so” analogy. I’m saying this purely for the benefit of those who may be new or reading here for the first time. I never wanted or want to seem like I’m doing the “Nah, nah, nah, nah, nah” type of response to my detractors. I’d rather let the chips fall – good or bad – and let readers decide the credibility of either side. Occasionally however, there are and have been times they do need to be pointed out, which is why these now have taken on a life of their own. (i.e., something of significance per se that may have a direct impact on one’s business etc., etc.) And readers, colleagues, and others have requested their continuance.