by Bill Holter, JS Mineset, SGT Report.com:
Based on the title, you might be guessing “who said what”? It could be thought we are discussing one of the many ridiculous quotes by Jim Cramer. His latest was a rant about how our market should not be down this morning “because” North Korea allegedly lit off and tested a nuke. He went on to say “look at earnings, they can’t be the problem, Monsanto and Sonic beat handily”… Really? Good earnings at Sonic are a sign of economic and financial health?
We could also be talking about president Obama’s speech yesterday where he actually mentioned a few folks have been killed by guns in Chicago of all places. I could be wrong, but I have never heard him mention any problems in that utopian metropolis?
Amongst the many points he tried to make, he spoke of the children in Sandy Hook who were “killed” with tears in his eyes. I don’t recall seeing any tears over the heroes who were actually killed in Benghazi? These were true heroes and not part of a drill.
(As an addendum, partner Jim Sinclair made comments to this paragraph) “Where are the tears for the 2 volunteers who gave their lives to defend our flag and embassy. Where is the bronze statue that should be on the ground on the green now in Washington showing them in action. These volunteers set up a cross fire position and took out over 70 terrorists before they were overrun by shear numbers. They knew their end before they began. How about a statue to the two snipers that came out of a safe helicopter repelling down ropes to defend Blackhawk down pilots held down under severe incoming fire. These four men knew that what they were doing was going to end their lives painfully, but as modern day patriots were proud to give up their safety and lives for the honor of defending the American Flag and the US ambassador. What has become of repayment we all owe to our vets for all these boutique wars over oil and politics? Oh my what has happened to our country. This comment is probably not politically correct, will bring in hoards of liberal trolls, but does bring tears to my eyes.” Jim Sinclair
No, these two are not what has me baffled because I would expect what they said. Yesterday, former Dallas Fed President Richard Fisher was on CNBC. PLEASE watch this video!
I can’t believe what he said and I can’t believe there was no “power outage” at CNBC to shut him off! I can believe CNBC “edited for space” the 7:28 recording down to under four minutes where some of the “juice” was removed.
In a nutshell, Mr. Fisher admitted “What The Fed did, and I was part of it, was front-loaded an enormous rally market rally in order to create a wealth effect…” and followed with “The Fed is a giant weapon that has no ammunition left.”!!! I do want to point out the term “front loading” could be replaced with many other words such as “rigged, manipulated, supported or even forced” and the meaning would still be the same!
Why would he say this? And why now? I am sure these two questions, (the first in particular) are being asked all over in elite land. The “wizard” behind the curtain must be none to happy with Mr. Fisher’s confession! To bluntly answer the two questions, Mr. Fisher must have a guilty conscience and wants to separate himself from “blame” just as Alan Greenspan has attempted. Put simply, “he knows”! He knows what they (the Fed) did, he knows the result (bubbles everywhere you look) and he knows the “timeline” to the unwind (now)!
I don’t want to do a complete review of everything he said for the sake of time. Please view the video for yourself as the entire seven minute interview is as inflammatory and full of truth as any interview I could do in 30 minutes. The phrases “over valued, unwind, front loaded, giant weapon, no ammunition, horrible crisis, over inflated, we went one step too far, we had already purchased $1 trillion in securities by March 2009, that was sufficient and we had launched the rocket, it was the Fed the Fed the Fed and other central banks …that’s not the way markets should be working, markets were juiced up by central banks” were all included. I could go on and on but you get the picture. Mr. Fisher in one 7:00 interview wrapped up and confirmed everything us “nutjobs” have been saying all along!
He did stop one step short of the reality we nutjobs see mathematically coming. He got close when using the term “unwind” but stopped short and did not go all the way. This “unwind” is going to end in the closure of markets all around the globe. Forget about circuit breakers, the only way to stop the selling once it gets out of control …will be to take control by pulling the plug out of the wall! THANK YOU Mr. Fisher, now when someone laughs at me I will send them a link to your interview!
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