Just A Coincidence

Wed, Aug 20, 2014 - 3:03pm

I don't usually devote entire threads to just one video snippet but this latest from CNBS is so priceless that I figured it could stand on its own.

Please allow me to set the stage. Earlier this afternoon, the minutes from the July FOMC meeting were released to the usual CNBS fanfare. Once LIESman finished up his usual schtick, he threw it back to Brian and Mandy in Fort Lee...and this is when the fun began.

Now I have to give a few props to this Brian Sullivan character. To his credit, I've seen him on more than a few occasions point out some of the lunacy and disconnects that permeate his network and other financial coverage. Of course he never gets to The Truth. Oh, heavens no. Never, ever will CNBS or any other financial media discredit themselves by admitting what to all of us is so obvious. Namely, that The Fed and their Primary Dealers are willfully and intentionally driving the US stock market higher in order to maintain Bernanke & Yellen's "wealth effect".

So, when Brian notices this "very odd coincidence" in stock markets returns, he simply laughs it off. As he chuckles, he brings in some goon named Dom Chu to confirm his view that it simply must be "random nonsense".

Nope. Nothing to see here at all. Just a strange coincidence, indeed. Certainly NOT evidence that the "markets" are centrally-planned and centrally-controlled. No way. Hmmm, I wonder what Brian and Dom would think of this chart then? Three, consecutive years of a straight up channel with no meaningful corrections:

Three years of sovereign debt crises, geo-political events and a staggering US economy. But none of that matters when The Fed prints money and feeds it directly to The PDs for distribution across the equity derivative spectrum.

Again, though, CNBS et al would never, ever admit to this gross manipulation. To do so would discredit and marginalize their very existence. Instead, all is well in TV land. "Coincidences" be damned.


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Pounds of Money
Aug 20, 2014 - 3:07pm

I Am First

I AM First

Aug 20, 2014 - 3:17pm

Add this to ROTFL

Car Repos Soar 70% As Auto Subprime Bubble Pops; "It's Contained" Promises Fed

Submitted by Tyler Durden on 08/20/2014 - 13:19

The auto loan subprime bubble may be the latest to burst (after student loans) as the rate of car repossessions jumped 70.2 percent in the second quarter, with much of that increase coming from finance companies not run by automakers, banks or credit unions. "The number of delinquencies and repossessions rising is what we would expect as the auto industry sells more vehicles," "But this slight uptick is one to keep an eye on." The surge in delinquencies and repossessions is being driven primarily by borrowers with subprime and deep subprime credit scores. ......................................

From cnBS to the fed fuds you gotta know we're entering financial neutron fireworks about to ignite this FALL, which of course, no body saw coming. LOL

Aug 20, 2014 - 3:27pm

What's in a name?

LIES man, what an asshole.

Safety Dan
Aug 20, 2014 - 3:33pm

GMO: "There Is No Safe Place

GMO: "There Is No Safe Place To Hide"

Submitted by Tyler Durden on 08/20/2014 - 13:24

"Today’s environment, however, is quite distinct, as seen in the chart below, where we lay out the GMO seven-year forecasts in a volatility (an imperfect shorthand for risk) versus return format for the traditional asset classes, or betas. This beta desert is so challenging because not only are there no asset classes that we believe are priced to deliver 5% real return (the red line), there is also no safe place to hide and wait (the green circle)." - GMO

The Pension Riots of 2016-2028

Aug 20, 2014 - 3:38pm

@TF - Dominic Chu came to CNBC from Bloomberg

He is a charting fan because on both Bloomberg and CNBC, he's the guy they go to for the charting analysis.

Just FYI.
When he was on Bloomberg, I liked his presentations then. His comments in the above clip are either really naive (possible because Chu is younger than most of us by about 10-15 years). Or, he's aware of it and they don't really want to discuss (more likely). Chu just moved from Bloomberg to CNBC and it may have been an internal attempt to test him for his loyalties.

Brian Sullivan is interesting to watch on CNBC. He does tend towards reporting.

The guy who I have noticed is missing is David Faber. Where is he?

Aug 20, 2014 - 3:39pm
Aug 20, 2014 - 3:51pm

Fish rots from the head down . . .

"Review of the data on accounting fraud confirms that fraud goes up as criminal prosecutions go down. Indeed, extensive evidence shows that failing to prosecute looting by Wall Street is killing our economy.

And yet the U.S. government admits that it refuses to prosecute fraud … pretty much as an official policy. Indeed, the government helped cover up the crimes of the big banks, used claims of national security to keep everything in the dark, and changed basic rules and definitions to allow the game to continue. See this, this, this and this.

Indeed, Wall Street – with the help of Washington – has robbed (and raped) America.

The Fish Is Rotting from the Head Down

Moreover, corruption at the top leads to lawlessness by the people. As we noted in 2011, in the middle of the London riots:

Corruption and lawlessness by our "leaders" encourages lawlessness by everyone else. See this, for example."


Aug 20, 2014 - 3:56pm

new S&P high today

Woo Hoo, new high on the S&P.

clearly a coincidence with the release of FED minutes--a statistical anomaly.

Dang--those things are flying everywhere.

I don't know about you, but I better sell my stack and put it into equities!

Aug 20, 2014 - 4:09pm

Sprott link

thanks Craig, I do like these Royalties with my Juniors. Franco Nevada(FNV), Royal Gold(RGLD), Silver Wheaton(SLW) are royalty company stalwarts and I also have Sandstrom Gold(SAND) a smaller newer royalty company I think has a good game plan and people. If you want a safer bet stock with PM's these guys don't have the overhead and many of the operational concerns that miners have. They just have a significant chunk of the oz's mined by their royalty stream of miners. It's a wonderful business model. Most of them have dividends, don't think SAND does yet.

My .02 cents

Aug 20, 2014 - 4:53pm

Nothing to note here

Except the nice young thing walking in the background at the 1:38 minute mark!!!

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