1. Markets turned up briefly as some benign astro patterns are due the the next 2 days as well – we have to see how the week closes to have a better idea how the short term waves play out but the odds are still favoring a retest of the highs for the SPX so far. Should we close above 1350 that would suggest another test of the 1370-80 is due within 2 weeks before we drop to the 1150 the next weeks. Selling rallies remains the name of the game as their is mostly a phony final upleg before it gets ugly. Another strange Jewish enterprise ( I suspect its a typical Rothschild or Rockefeller operation with other peoples label on it) was placed with an IPO – Glencore from a typical Rothschild executor Marc Rich – just read the Wikipedia to get a rough idea and naturally he was pardoned by one of the most obscure Presidents B. Clinton.
2. The power game after DSK’s disgraceful career end takes a new but not unexpected turn as China speaks up to the new power order it claims for itself. Still it makes sense as the French DSK who was so eager to bailout all European countries did that with very patriotic reasons ( well actually he bailed out French banks who are the biggest holders of bankrupt EU debt together with German banks.
China Central Bank Lays It Down: “New IMF Leadership Should Reflect New World Order”
Submitted by Tyler Durden on 05/19/2011 08:26 -0400
There’s a funny thing about the New World Order: it eventually gets too big and bites the hand the feeds it. Enter the PBoC: “The new IMF leadership needs to reflect changes in the world economic order and be more representative of emerging market economies, Chinese central bank governor Zhou Xiaochuan said Thursday in his first public comments since the arrest of Dominique Strauss-Kahn. “The senior management team of the IMF should better reflect changes in world economic patterns and should be more representative of emerging market economies.” Translation – no more European of American cronies. It is also probably safe to say that Lagarde’s odds of pulling the white smoke out of the conclave bag have just plunged. It is also safe to say that with China now unofficially Europe’s backstopper (and there were those wondering why China is buying all those Spanish and Portuguese bonds), what China wants, China gets.
From Market News:
Zhou also said he regretted Strauss-Kahn’s decision to resign as the Managing Director of IMF.
“The current world economy is recovering slowly from the financial crisis and the European sovereign debt crisis is at a key stage. A powerful IMF support is needed to overcome current difficulties facing Europe and ensure world economic developments are on a robust, sustainable and balanced track,” Zhou added.
German Chancellor Angela Merkel reiterated earlier today that the next head of the International Monetary Fund should be a European again.
And so the stage is set for the next big geopolitical theater: Germany vs China over the largely symbolic issue of who gets to scare the Sofitel maids next.