August 19th, 2008
I’ve heard about it, I’ve read about it but it wasn’t until I looked at a whole series of charts and focused in did I see the manipulation that was the “market” that’s taken place since July 14, the day the Fed said they’d “backstop” Freddie and Fanny. It was as if somebody closed the curtain and then quickly opened it again and we were watching a different play. Let me try to show you what I’m talking about with some close-up charts (I reduced the charts to allow for more):
- The $US surged and other currencies dropped:
- Commodities collapsed
- Financials’ sentence was commuted
- BAC (Bank of America: surged 81.48%)
If I believed in conspiracy theories and thought it was even remotely possible, I would think that major central banks acted in harmony to stem the “commodities speculative bubble” by propping up the $US, depressing their own currencies and pushing gold and silver down.
What other explanation could there be for everything happening just as the Fed was saving the US mortgage lending industry and housing market?