1 So far it worked out as expected a brief 24h move to the downside followed by a turn within 24h. Markets ( or rather manipulators are working along expected lines and try to get the SPX in positive yearly territory.
With the ECB close to the 3 tril mark and the FED as well we can say all those printing machines did not do a lot after all this are humangous epic proportions of market manipulation. They say everything about the situation of the financial system and if you just think one step ahead it will get really ugly – no way out but he ugly one and from Syria to North Korea enough trigger points to start WW3.
Now that even Gold is not a save place to hide anymore desperation slowly will make markets more and more unsufficient as retailers will drop out of the game entirely. A little conspiracy theory from the WSJ ( which is Murdoch) and will never release the truth even if it knows it.
In an interesting history, today’s WSJ points to a closed-door meeting in Washington on April 14th of this year as the moment that the attempts to ‘save’ Europe began to unravel. The player at the center of the debacle – one Dominique Strauss-Kahn – was pressing for more ‘help’ from Europe or else the IMF would not deliver more magic-money to the Greeks. The ultimatum drove a wedge between many competing camps over who should be on the hook for more or less of the money required to save this tiny sovereign. Critically, as we have pointed out again and again, it is not (in this case) size that matters, but the precedent that a nation leaving the socialist construct of the Euro ‘breaks’ the union and the WSJ weaves a torrid tale of this increasing tension and DSK’s catalytic impact and timely ‘dismissal’ from the process. Furthermore, the clear ‘dithering‘ they describe among these so-called leaders offers insights into what we can expect going forward as a new fiscal compact (same as the old one) begins to emerge with mid-March hard Greek deadlines looming fast.