iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Thoughts on Trump Trying to Destroy the Federal Reserve?

To be clear, we mostly despise the Fed and their tactics that have helped usher in economic volatility in the US, correct? I mean, Bernanke did save us, but then again Greenspan fucking ruined us. I always said the Fed was doing this shit on purpose. The 2008 financial crisis ended up being a giant land grab by big banks — fucking small players out of their investments.

Well, here we are with a sitting President actively shitting on the Fed, trying to both discredit and dismantled the institution. Thoughts on this?

You must admit, it’s going pretty well. Trump got the Fed to stop hiking and instead turn around and cut. I was worried that higher rates would apply pressure to distressed oil and gas assets, pushing down credits in junk bonds and perhaps causing another recession. In late 2018, it sure did look like the Fed was trying to kick leveraged loans down a fucking sewer pipe — but all of that has changed now.

In other news, a Nomura analyst is making headlines for making a retarded call, suggesting we’re barreling towards a ‘Lehman like’ sell off.

The rebound, supported by dip buying and technical positioning by speculative traders, is bound to be a short-lived one as market sentiment continues to deteriorate, Nomura strategist Masanari Takada says.

“We see the rebound in US stocks as a mere technical rally that looks like no more than a bump in the road on the way down,” Takada says.

The strategist garnered much attention this week for his call for a “Lehman-like” sell-off as soon as late August.

Everyone can fuck off. I sold ZS and OKTA today for 3% overnight success stories. I have 5 stocks that I want to buy — but will wait to buy them late in the day, in order to avoid any intra-day shenanigans.

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5 comments

  1. cancel19

    I will never forget what they did to my large $XIV position that fateful February 5, 2018! Looking for them to be abolished and we return to the gold standard.

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  2. mx2101

    Since you asked for reader comment-

    1. I don’t think Trump is qualified to analyze economics and have it all figured out.
    2. Why should it be a level playing field?
    3. Everyone wants to pay less, especially American consumers.

    Best regards

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  3. notdeadyet

    Of course Mr Fly (and in my estimation you are a great day-trader, one of the greatest), you and your kind have the skills to skim a bit of fiat money from your admittedly intelligent analyses of what’s going on day-to-day (and intraday) among the Jew-Boy-Moneychangers…
    …But now DON’T dare to pretend that you have the least bit of prescience about what will happen in the longer run, part and parcel of what’s happening now and its near end. No, THAT will be similar to Jesus’ prophecy (fulfilled in year 70 AD!) of the destruction of The Temple of The Tribe who murdered Him, and they still hate Him to this day because He told them that they do not represent God:
    https://www.youtube.com/watch?v=cIIH9hzHG3s&t=153s

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  4. one-eighty

    The Fed is losing its credibility and its leadership position in the world, and once you lose something, its extremely difficult to get it back.
    If Powell had defied the idiot and stood his ground the world would have accepted that as a huge positive. Now however, the Fed is nothing more than another political body whose decisions have no strategic value and only limited tactical value.

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  5. omfgitsjd

    The 2008 mortgage crisis hit his interests pretty hard. So, his passion for devaluing the dollar and throwing cow pies at the Fed banks should be of no surprise. But, putting the country in the position of being one crisis away from zero or negative interest rates ? One should really question the motive.

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