"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Wednesday, July 25, 2012

QE3 Timetable Moves Up to August

The market is abuzz this morning with chatter that the Fed is going to open the candy store next month instead of waiting until September as many had come to believe.

That is all you need to know to understand why nearly every commodity on the Board is moving higher today as well as equities.

Welcome to the brave new world of "investing".

As I mentioned in my post yesterday, if the Fed succumbs to this madness, hold onto your hats for food prices are going to shoot directly to the moon. The entire grain complex is putting back on a large portion of what it took off yesterday. If the Fed does indeed pull the trigger on another round of this idiotic bond buying, hedge fund algorithms are going to jam food prices due north.

Interestingly enough, about the only segment of the commodity complex not moving higher today is the energy complex. The current data releases continue to confirm slow demand due to the poor economic conditions.


  1. The Fed will announce QE3 next week and gold only manages a paltry $25 move. How pathetic. As I've been saying for 10 months, the gold bull move is over. This market is 100% controlled by the Fed.

    1. That's because there is still considerable uncertainty as to whether they will actually do it....duh.

  2. Dan, I always like how you "tell it like it is" from where you sit.

    I am always confused when traders "buy the rumor" and then dump everything because it didn't go there way. Crazy way of "investing"! Perhaps this time, the rumor will be true.

    As far as the bull move being over, time will tell. But I am long on the metals. DO NOT TRUST any bank or banker at all, thief's and robbers of the big five, are they all.

  3. Keeping all those plates (market manipulating contradictory lies) spinning in the air must be getting mighty nerve racking for
    Da Boyz. Good.


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