I can’t do this anymore…….It’s over.
I’m finished……We’re through….Good-bye……No more… “Se acabo”.
Let today mark the last day I will comment on the subject, short of the possibility of small intermittent outburst throughout the coming years – as the need arises.
Have I completely lost my mind in quickly interpreting todays ” budget deal ” as being a complete and total waste of paper / time / energy ?
All I can make of it is that the “debt ceiling will be increased forever” and they’re just going to kick the can for an additional 10 years! Averting shutdown in Jan / Fed MUST mean debt ceiling raised no? ( And we can see that “markets” likely view this the same as Kong no? )
( There is no such thing as “the debt ceiling” by the way….but that’s another story)
Forgive me please but…….can an American citizen please explain to me how they can suggest that “a significant change to the pensions of federal government workers and the military will save $12 billion over 10 years, $6 billion each from civilians and the military, and much more over time”.
When 85 BILLION “PER MONTH” IS BEING PRINTED OUT OF THIN AIR!
There was just a little over $800 billion of base money in existence before the crisis in 2008… that’s 200 years worth of currency creation equaling 0.8 trillion
Now the Fed creates ONE TRILLION EVERY YEAR…meaning they are creating more than 200 years worth of currency……………… every single year!
Perceived “savings” stretched over “ridiculous periods of time” while 1 TRILLION DOLLARS ARE BEING PRINTED EVERY YEAR!
That’s it…..seriously….last post on it ( maybe not ) but……..common really?
Fantastic profits today in combination with trades initiated late last week…USD “continues” ( now 8 days in a row since posting ) to lose ground, Commods bounce and now reverse, EUR and GBP strength abound…and …..(wait for it…….wait for it……) JPY making the turn???
Habanero chasers for my fine tequilla tonight peeps….apparently …..I better practice up.
LOL – Dr. Kong…. LOL I hear you – it’s all smoke & mirrors but after a while its just plain BS…….. when looking over things while MSM massages the message into what looks like cattle feed – one start to think that ” CAN PEOPE REALLY CONTINUE TO BUY UP ALL THIS GARBAGE” I mean really……. ahh well it is what it is……
As it “stretches the ability to grasp” fo rthose fundamental traders such as myself….you can’t ignore what’s sitting right in front of you.
You get up…..you go to work…you make a buck…and eventually ….”eventually” the fundies come home to roost.
Wow that increase in money supply shows you how strong the deflationary forces are. If the money supply has increased that amount I’m actually surprised prices aren’t higher…….yet.
Crazy numbers man……in perspective?
I don’t think any of us have a freakin clue “how far down the rabbit hole” this thing can go.
Looking at 15 years of Japan fighting it……..you gotta scratch your head as to the magnitude.
Let alone the complete and total “childrens story” the general public is being fed.
85 billion per month……hilarious – means nothing. A tiny drip in the bucket and Americans are convinced its “killing them”.
They haven’t seen anything yet.
That’s the problem with govt debt spending when growth isn’t there. Growth is slow…debt increase…forced increase in money supply….then growth comes back with a much larger pool of money to eff with….inflation comes on hard….shocks the system again….rinse repeat…only worse.
Ya man when you back up and take that perspective its INSANE!
Kinda makes a 1 hour chart, and those “getting smoked” in the daily grind look kinda funny doesn’t it?
No shit. Thanks for the info
came across for a VERY simple example in layman terms of just one aspect of how the scam is run – it’s a old pyramid scam except it’s coming from the very top!!!
Enjoy for those how don’t understand how currency is created not ” Money ” sorry but there is a difference it’s just paper and even worse is 90% digital these days!!!
also the 100-year term of the deal with the Fed which was founded in 1913 is coming up to the end of it’s term…… end of 2013….. I am 99.99% confident this will renew & the game will continue until the market or the natural laws of the universe make the changes if the US & now the globe like it or not or if we are ready or not – these things have a way of surprising even the brightest – getting caught flat-footed will be the most painful experience in our history!!!
Look, QE is awesome. The government is spending money it doesn’t have. Then it is selling bonds at 3% interest to finance that spending. Then it is buying back those bonds through the Federal Reserve exchanging the 3% fixed interest for 0.25% interest which they have full control over. They can then set it to 0% or even negative. The end result is that the federal government is being paid to borrow money. Pretty awesome deal if you ask me. Here is an idea, instead of taxing corporations 30%, just have the federal reserve go and BUY 30% of the shares of every company out there. Taxation plus regulations already imply the government owns them, so why not make it official? Oh right, the government wants a major share of the profits without any risk of losses. QE is not really the problem; the deficit is the problem. Politicians across the globe seem as uninterested in addressing the deficit as japanese politicians. Perhaps if Japan falls sooner rather than later, somebody, somewhere, will wake up.
Some of you certainly have an interesting way of looking at things that’s for sure.
The U.S government isn’t “being paid to borrow money”. The U.S government “is” borrowing money “from” the Federal reserve and “paying out” 3% “to” the Federal reserve. Every single dollar created by way of this system is a dollar created out of debt.
The Gov is the borrower, and the Fed is the lender.
The Fed is a completely privately owned bank, and in no way connected / considered a “government entity”.
Treasury prints bonds….Ben prints fake money……then via Ben’s buddies ( his primary dealers , Goldman etc…) Fed “buys said bonds” ( at an elevated price leaving an immediate profit with the primary dealer ) and holds those bonds expecting to be paid the 3% etc….
More money printing = more government debt. Higher interest rates means debt level of government increases as payments “to bond holders” at 2.8% then 3 % , then 5 % etc..becomes more and more difficult to service.
How are you today? I decided to close my gbp/usd positions hehe…
Good for you Careydina as……we’ve got the damn unemployment numbers in the U.S coming up at 8:30 so….you can’t “ever” say for certain which way things will go for USD.
Always a good idea to sit these things out – then evaluate after the data is released.
Massive sell on AUD as suggested yesterday – clerarly rolled back over.
300 plus pips here this a.m in a matter of minutes here prior to U.S data release as “someone” is selling AuD HARD!
If you don’t understand how the Federal Reserve works and believe that it is a “private entity”, you really have no business trading forex, at least not the USD. The Federal Reserve is no more private than the Department of Defense.
Oh man……Andre please…..
I’m a very easy going guy (well…..not really but for the most part)…and if you’re learning something here – that’s terrific.
I might suggest you step back a little, reflect , observe etc – and most certainly brush up on the basics / fundamentals.
The Fed is a privately owned bank sad to say……with a group of shareholders and even a dividend!
These same shareholders also have the largest stake in the top 6 U.S media companies as well …if you want to dig a little deeper.
I think it’s all here at the blog “somewhere” but…should you need help – google can also explain this.
It’s common knowledge.
I know perfectly well what it is you are talking about. Technically, yes, the federal reserve has shareholders and is a “private” institution. However, there is no private company earning countless billions from the interest of treasury bonds because the vast majority of that interest is sent back to the treasury. That is pretty much all that matters, so I won’t go into detail regarding why the whole “the private fed” meme is nonsense.
I certainly don’t have the time ( or the patience ) to argue with you.
It’s a difficult “scheme” for anyone to fully understand, and I’ll bet you that the majority of people “may never truly understand”.
I’ve done my best here to “hopefully” open an eye er two.
You’ve got the entire planet’s libraries available to you at the push of a button so…….keep reading, learning etc but please…..
Don’t come in here “guns a blazing” and expect the warmest reception.
Aussie Central Bank chief just said he wants to see AUD closer to 0.85 to USD. For your avid reader who has been shorting AUD (against everything, really) the past few weeks this is a massive news.
Nice one as usual, Kong.
Huge trade…..and totally 100% unexpected.
I0ve seen the AUD weakness – but wow……wasn’t expecting an Xmas present like this this morning!
Yes. I supposed one of them but sold all aud positions last night already 🙁 Sob~~sob~~~
Too bad CD – wow…..a real unexpected surprise here this morning…
I was short AUD/USD as well long EUR/AUD , GBP/AUD as well short AUD/JPY!
Boom! A great surprise.
Lol why can’t someone come and say they want usdjpy at 90 or something? Numbers are mixed, USD is not up much but whoaa… look at yen being crushed..
Ya the freakin JPY pairs…..still not ready to give up the ghost.
They’ve certainly been getting closer man…..and “are” showing some exhaustion but man…..
Nikkei still hovering / SP still poking around at highs etc……”risk” is still not “quite ready” to take a break.
I want USD/JPY at 85! I want USD/JPY at 85!
I want ……
USD/JPY at 85!!!
In my dreams!
Common….let imagine mid / late January…and that thing around 85 – 89…….oh please yes!
Positive thinking yields positive result!
Im all for that!
Keep it up!
Hi kong, yeah I have been targeting usdjpy at 85…. lol but I think it’s probably hopeless unless we get a major risk off..but with the fed sticksaving everytime, probably today too..
With respect to this pair ….and the flow “back into JPY” in general – YES – It’s the “real correction trade” so……
I assume it will be during the 1st quarter of 2014.
Looking across the board….AUD/JPY already hitting a couple trades…..but I’ve not even CONSIDERED looking short pairs such as EUR/JPY or GBP/JPY and WONT until I see a major , MAJOR move.
Ive reloaded every single short AUD pair I’d previously been trading………
Happy for you kong! I will put my eyes on the markets more. Sometimes is tough as i am not a full time trader.
Huge moves here this morning…and YES you need to get in touch with the market more.
There are specific times of the day that are much better, and well worth your time. Depending on your time zone – we can work it out and I can give you the best suggestion / times.
I am living in singapore. Now is 10.40pm at my side here. Kindly advise :))
I’ll do some math – and send you an email.
Cool and really appreciate it! Do you have my email kong?
I see it here yes.
aud/usd- u think further more down?
I do CD yes……but “as always” it’s hard to chase these large moves “after” they’ve happened.
I can recommend placing a smaller order “below” the current price…and “if” momentum carrys thru – you’ll get picked up!
Otherwise….you can also try to be patient and see if the pair moves higher through the day / evening and try to pick it off there.
Or…….you can do both!
Usdjpy below 100 by the end of Dec will be a good start… Usdjpy 85!!! cmon
What are you guys smoking? USD/JPY is NEVER, EVER going to hit 85 again. Ever.
Hehe… kong, I’ve placed it just now already. Let’s see how… waiting for your email. ..
You understand my thinking…..
“If” momentum conitnues in the direction- great! “If not” – hey…..no big thing because the higher price moves ( without you in the trade ) you can just look forward to picking it off – “higher”.
I do this (literally) all the time.
Yeah got it!
Well i will pick up more in technical soon… thanks for your time!
Ok good night. Zzz…