On the heels of another MASSIVE European continent sovereign downgrade, plus the
promise of UK & French downgrades, the market was saved again with a rumor. It
wasn't just any rumor though, but the same old nonsensical Greek bailout rumor
that never seems to grow old. With only a few minutes left in the day, the
usual rumor was released to the usual financial outlets, before the close, that
resulted in the usual change from a down day to a positive close.
Isn't it odd that the bad news like MASSIVE SOVEREIGN DOWNGRADES are always
released when the market is closed; however, good news is always released during
the trading day? If I wasn't so jaded from so many obviously and bullishly
rigged maneuvers by politicians and central banksters to achieve their
preconceived outcomes, I'd say this was a freak occurrence. From experience,
however, one must conclude that the timing of these things is completely
controlled by the "powers that be" (read: Fed, Treasury, ECB, IMF, BOE, World
Bank, BOJ, etc, etc). Any thoughts to the contrary show ones acute naiveté.
Of course there are others who share this frustration and not just in the USSA.
Another voice of reason comes from Godfrey Bloom of the UK Independence Party
who excoriates the EU with, among other things, "The day must surely come when
politicians, bureaucrats, and central bankers must be called to account by a
fiscal crimes tribunal and sent to prison for a VERY LONG TIME!"
Sadly, there isn't a single sorry politician (other than Ron Paul) or so-called
financial journalist that will stand up and say the same. No sir, in the USSA
it's all about "Go along to get along." After all, the slimy politicians need
their palms greased and the so-called financial journalists need advertising
Trade well and follow the trend, not the so-called "experts."
Founder & President of TradingAdvantagetm