Loan Denied - Egad!!
The world's financial system continues to smoulder like the super thermite that took down the WTCs 1, 2, and 7. The fire cannot be extinguished. It can be covered up and explained away by the media. It can also be ignored. At least, it can be ignored until another plum of smoke billows forth from the bowels of economic destruction. That destruction has come by way of banker credit consumed by idiots and extended by thieves who use counterfeited currency as their super thermite. The thieves have used the threat of bringing down the entire house with the click of their detonation switch unless their demands are met. All we have to do is hand over the keys to our property, savings, liberties, and soul. They will agree to leave the structures we inhabit upright as long as we agree to allow them free access to the monetary printing press and impunity from the crimes they commit. The banksters use debt like a shoe salesman uses a shoehorn to slip new shoes onto feet accustomed to the discomfort of worn old shoes. Aaahh! We can have something better than that we were used to. All we have to do is accept a bit more debt. Whether it is a plastic card or the 'Federal Reserve Notes' we have in our wallet, we are using pretend money. It's not real. It is all manufactured by the folks that want us to accept payment plans in lue of ownership of anything. And yes, the banksters not only want our stuff. They want our liberties too. They want total control. Don't the new shoes feel more comfortable than the old shoes? You know they do. Just hand over the plastic and the banksters will allow you to walk out of the store with them on your feet. Won't your neighbors be jealous of your new shoes. They too will have to go get themselves some new shoes. They too will accept more debt. Control. Domination. Total dependency. Complete subordination. The central bank will settle for nothing less.
Occasionally, a sovereign nation like Greece will indebt themselves to a point that central banks recoil from additional debt requests. Thus, our markets lost a little confidence as the week wore on because Greece can't cut spending and banks won't back more lending. We have a Greek standoff, if you will. I included a chart to show the week of March 15 - 19 in 15- minute bars. The chart is the SPY so we can see the action in an ETF that mirrors the S&P 500. Yes, we pushed a little higher this week but the interesting point here is the action on Friday. Specifically, the action on Friday afternoon. Specifically, the action in the last 15 minutes of trading. As you can see, the last 15 minutes of the week witnessed by far the most volume of any 15 minute bar all week. Haven't we always been told by bubblevision TV that 'traders go home early' and all that on Friday afternoon? In addition, this has been the first glorious near-Spring afternoon this year. Yes, it was an options expiration Friday but come on! The last 15 minutes of the day shows the most volume of the entire week? Well, the market was in a tale spin and did threaten to negate all of the Fed's hard work in the previous 4 days. And yes, the Fed has put in a lot of hard work since February 5, 2010 when they intervened with both barrels blazing to keep the Dow above 10,000. On February 5, the volume for the SPY was nearly 500 million shares. On February 19, it was a mere 224 million. 224 million is slightly above average but nowhere near the intervention day of the 5th. Yet, the Fed obviously went to work late in the day as always to bring the markets up. This is even stranger if we consider that going into this weekend, the investment world is facing the Greek debt insolvency and the continued march toward insolvency in the US by way of a Congressional vote on a 'health care tax'. With this much in the air, it seems odd that there would be strong buying going into the close. Of course, I think we all know that if the market indices were rallying on their own going into the close, there would not have been a strong volume push in the final 15 minutes of the day. All the Fed wants is complete control. Bend over or fight! I'm Scots-Irish. We don't bend over!
What is going to happen next week? No one really knows. I have no doubts that some kind of health care tax will be passed because the US needs additional income streams to justify the securitized sovereign debt credit default swaps that have to be sold to continue the massive debt issuance that has to be maintained to continue the farce of 'economic recovery'. This is the only way that the banksters can keep the sheople in line so they don't suspect the reality of their enslavement. And, oh yeah by the way, as long as the PPT can keep the stock market going up, they have the ultimate tool of distraction while they commandeer economic control. Know the truth. Investors can play the market up and down. Bernanke made it clear that Dow 10,000 was a mark they would defend with every ounce of ink at their disposal. We may find that the Dow slides back toward this line but it will not penetrate it. Why? Because Bernanke says so. The next week may offer a shorting opportunity but it will likely be short lived. Be nimble and quick but always operate with the truth in your pocket. The sad thing is our Congressional representitives actually think they are voting on 'health care' this weekend. Little do any of them (absent Ron Paul) know, they are voting on credit default swaps sold through Goldman Sachs and ultimately, our souls. Pray for understanding. Pray for a President one day like me.
SPY - 3rd week of March, 15 minute bars
Chart courtesy StockCharts.com