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BI says it all - Ben Bernanke Gave A Dazzling Speech About Monetary Policy—Everybody Needs To Grasp The Key Points. Read it. Basically, it has now gone viral (i.e. filtered down to the mouth-breathing plebs at Business Insider) that there will be no runaway inflation, Bernanke is not printing money, and the only people left who believe in this shit are the fucktard goldbugs.
FT Alphaville - QEternity explained using Rubik's Cubes. Read it.
Ritholtz - here is the entirety of the Bernanke speech. Read it. Again, it's so out in the open that Ritholtz has reprinted it. So shut up about the coming inflationary apocalypse.
I'm serious - I am now deleting any subscription, RSS feed, or news source that continues to natter on about the coming inflationary apocalypse.
Speaking of which - someone notes that it looks like the gold miners are rolling over. I agree. Maybe the rollover that we're seeing now in the miners, and the PMs, is the smart money handing off to the stupid? Granted, some individual stocks will still do well. But the "rising tide lifts all boats" is now a fantasy - and so, for example, Keegan might be going back to $0 EV.
Focus on Funds - gold speculators biggest bets since February. Uh-oh...
Now as for the rest of the world....
FT Beyond Brics - Mali gold miners hurt by travel ban. Except not really, as the story explains. Whatever. At least it seems to say that Randgold is a good buy, if you're into that sort of thing.
BI - Chinese consumers are optimistic. Wait... what? Positive future expectations for the market, everyone! Especially commodities. And not because of "money-printing".
FT Beyond Brics - Chile apparently expects no trouble on the copper front. Except maybe no electricity for new mines. Speaking of which, maybe you also want to read the news release for the Economic Survey of Latin America and the Caribbean.
And as for Europe,
Reuters - Spain ready for bailout, Germany not. I guess the Nazi fucks in Germany won't find a Spanish bailout fun anymore, since Spain has already met the conditions for a bailout in advance. So, Germany can inflict no more pain.
WSJ Marketbeat - Moody's has to wait for Spain. Ha! Fuckers. Can't fucking downgrade them now, can you?
Mariano Rajoy's a fucking genius.
I was a good boy, did as you told and went and read the Bernanke speech. He didn't say anything particularly new, but he did say it well.
ReplyDeleteCan't say i'm a Bernanke fan, but i do think he does his job well. If you get the difference.