Thursday, December 8, 2016
Read Scott here on iBankCoin and also at
Joined Jan 19, 2010
717 Blog Posts

Big Change Coming…

Did I get your attention? Good, because I lied. After listening to Bernanke today it is clear that there will be no change in policy, as long as he is Chairman.

Governments must fund their deficit spending and TBTF banks must not lose money. These are the primary tenets of the “Bernanke Policy”.

In order to accomplish that the Fed must own the entire non liquid mortgage market. That means all new mortgages and all old mortgage paper. At 100 cents on the dollar. And when I say all, I mean all. But forget about that old news for a second.

The endless printing of money is something that the general public knows nothing of. You speak about it and people’s eyes glaze over. Its like talking about currencies to the public.

I was once taping an episode of Bulls & Bears and someone started taking about the Dollar vs. some other currency and its implications. The taping had to stop because the topic is a “channel changer”. Realize that stopping a taping was hardly ever done unless there was a technical difficulty or a real fuck up.

Like the time I used the exclamatory, “Jesus Christ” when describing some market action. That was about the biggest no-no. You can only talk about the man, not use his name in any other way. One of the Commandments I was told.

So, the market indices are pushing new highs, Europe is falling apart again, China is off the gas pedal and we have an economy that live off the lies of government releases. Though markets sold off quickly with the latest Italy scare, and there is widespread technical Distribution, the pump will not end. Not now and not until there is a new Chairman of the Fed or a new President of the United States.

This economy is set up entirely for the investor class. As Ben said, “the rich get richer, bitch. You don’t like it, go screw”



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  1. Fly Fraud

    tell you clown friend, Fly, he is completely wrong on silver

  2. Danny Fontana

    I thought when you said, Jesus Christ, you were talking to me.

  3. Danny Fontana

    but laughing with me and not at me

  4. Mr. Cain Thaler

    You know, I wouldn’t mind that we’re guaranteeing the TBTF banks against losses, if the Fed at least had come in with a fucking hatchet and OBLITERATED middle management, also known by their more apt title, “The Stupid Assholes Who Created This Mess”.

  5. lulusteel

    another great writing scott! thanks

  6. ecchymosis

    Well said – it seems you suffered no ill effects from the meatballs!

  7. Fly Fraud

    Yen carry trade is about to unwind. Watch all the perma bull clowns on this site get run.

  8. Yabollox

    Didn’t you listen to Uncle Ben? None of that stuff is really happening! We have a magic governbment with a magic President and Magic central bank. The only thing to fear, is cynicism.

  9. speedius

    I like you when you’re angry. You are the anti-Hulk.

  10. unclehar

    a good article on investment and inflation is to be found at chapter 33 of Loeb’s the battle for investment survival. I gather the government does not care too much about inflation. I suppose most of the debts are to be dissolved thereby and in due course.

  11. drummerboy

    wouldn’t it be a bitch if the clam never printed one iota of money,but delivering the perception that the presses are running continually. every time i get fresh crisp bucks,they are dated 2009.