Wednesday, August 26, 2015
No such thing as part-time rigging.
A couple years ago commentators were talking mainly about oil prices. Some said the upward moves were rigged and the downstrokes were natural. Others said the downs were rigged and the ups were natural.
Now we're hearing the same thing about stock bubbles. "The Fed has lost control!" or "PBOC has lost control!"
Nonsense.
If you know a game is rigged for even one second, you know by induction that it's ALWAYS rigged.
Let's say you're driving on a smooth interstate. You turn on cruise control and take your foot off the gas. Whoops, now you need to exit into city streets. You turn off cruise control and resume direct foot action.
This does NOT mean you "lost control" during the times when cruise was on. You were fully in control the whole time. You chose when to turn cruise on and off, based on your judgment of where you wanted to go. You're rigging the drive to suit your purposes. Cruise control is part of the rig.
Same with the central banks. We know that they're rigging the upstrokes with QE and ZIRP. That's a plain and admitted fact. No secret. Now we have the appearance of "natural" markets for ... what, about three minutes at a time? Between the halts and circuit breakers?
It's all rigged. The drop isn't a "loss" or a "failure", it's designed to benefit someone massively. The only question is who.
¶ 3:43 PM 
