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If LEAP/E2020 had to summarize the "Hollywood style" or "Fox News" (11) scenario, we would have the following synopsis: "While the US iceberg is ramming the Titanic, the crew leads the passengers in search of dangerous Greek terrorists who may have planted bombs on board!" In propaganda terms, it’s a known recipe: it’s a diversion to allow, first of all, the rescue of the passengers one wants to save (the informed elite who know very well that there are no Greek terrorists on board) since everyone can’t be saved; and then, hide the problem’s true nature for as long as possible to avoid a revolt on board (including some of the crew who sincerely believe that there really are bombs on board).
Originally posted by marg6043
reply to post by OBE1
Exactly, that was the same thing that Bernanke told the bozos in Washington when the Q2 was ending, he told government that they needed to balance the budget and do cuts, but how can they when they government is on pre election year they need money to "stimulate" the dying economy that irresponsible spending is killing.
The Federal Reserve will replace $400 billion of short-term debt in its portfolio with longer- term Treasuries in an effort to reduce borrowing costs further and counter rising risks of a recession.
The central bank will buy securities with maturities of six to 30 years through June while selling an equal amount of debt maturing in three years or less, the Federal Open Market Committee said today in Washington after a two-day meeting. The action “should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative,” the FOMC said.
Are you prepared yet?
Well I'm sorry, because it's too late now.
I mean really, honestly too late.
The market figured it out and it didn't take very long - in fact, it took less than an hour.
This latest distortion by The Fed has just destroyed the last bit of earnings power the banks had. It's gone. All to preserve the ponzi scheme in the Federal Government - the same Federal Government that just sent a bleat to Bernanke about tampering with the economy.
The very same legislators that will now do nothing about what was just done.
You got that? They will do nothing.
What did Bernanke's act tell us?
He burned the furniture for warmth today. He and the rest of the Fed cabal are done; this was the card that was known to do much more damage than it could ever help anyone - or anything. He burned the furniture to allow the Federal Government Ponzi to continue for one more year while utterly screwing the private lending industry of all sorts from banks on down.
There is no shortage of lendable money. There hasn't been since this entire mess began. The problem was that money was too easy, not too tight, and people ran into the wall on their ability to pay.
You cannot drink yourself sober.
The game is over folks. Europe is now the lynchpin between here and the SPX at 500, and that's a short-term stop between here and an entirely-possible outcome of where it began in 1980.
That's S&P 100, not 500, and Dow 800.