Today's Rally

Scataphagos

Scataphagos

Brought to you by your friends at the ECB.. announcing even more money printing and stimulus*.

YEAH, STIMULUS!!

* We do this because we can. We print money, create inflation, devalue our currency and the buying power of YOUR money. IOW... we confiscate your wealth/buying power for the government to spend for its political objectives... and not only are you too stupid to recognize what we're doing to you.. you even celebrate it! (And we're not alone in doing this. China, Japan, and the USA are doing the same... there is no escape... so, BEND OVER AND GREASE UP!)
 
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noddyboy said:
Seems like everyone is hating this rally.
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They should be.

Anyone with a sense of financial history understands the consequences of "money printing to the extreme". It's been done dozens (maybe hundreds) of times throughout history.... and has ALWAYS.... not "almost always"... but ALWAYS... ended up in financial ruin for almost everybody. But of course, people die... then you get to start over.... with an unwise new generation with no sense of history.

The genius Founders of America mandated that money in America would be gold and silver coin... so that "money could not be printed at the whim of government", to the destruction and impovishment of our citizens.

We should never forget... the government is all about "greed now, consequences later... for someone else to deal with after we're gone".
 
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Yep ecb ...posted that this morning


Just when you thought it was going red they prop it up from overseas.

More free money.....keep it going.

My retirement account as of yesterday went green after cost averaging heavy while the markets were dark red. Now all funds green however still down 6% from the top. Very very very close to going straight into the money market and letting it sit there for a guaranteed 1%. This rally is unreal.
 
More free money for European markets just like here in the states. Keep that free money coming.


ECB boosts emergency stimulus by $676 billion


  • The European Central Bank increased its Pandemic Emergency Purchase programme by a further 600 billion euros ($676 billion) on Wednesday.
  • Markets were largely expecting a 500 billion euros ($563 billion) increase.
  • The new package takes the ECB's total announced monetary stimulus to 1.35 trillion euros ($1.52 trillion).
  • ECB also extended its horizon for net purchases until at least June 2021.


https://markets.businessinsider.com...nounces-further-676-billion-2020-6-1029280471
 
There's no doubt this is possibly the worst beating in history short sellers have ever taken the last 2 months and thats saying something . The reason why this mkt with the rally back to 2600-2700 was text book perfect for a huge short to ride back and test the lows . Instead we keep grinding higher and shorts doubled and tripled their shorts just knowing we'd refresh. And now they've been carried out in a body bag .
 
Scataphagos said:
Brought to you by your friends at the ECB.. announcing even more money printing and stimulus*.

YEAH, STIMULUS!!

* We do this because we can. We print money, create inflation, devalue our currency and the buying power of YOUR money. IOW... we confiscate your wealth/buying power for the government to spend for its political objectives... and not only are you too stupid to recognize what we're doing to you.. you even celebrate it! (And we're not alone in doing this. China, Japan, and the USA are doing the same... there is no escape... so, BEND OVER AND GREASE UP!)
More...
May I ask, as a trader does it matter?

You guys taught me: Trade what you see, not your opinion or believe.
 
ironchef said:
May I ask, as a trader does it matter?

You guys taught me: Trade what you see, not your opinion or believe.
More...

Correctamundo... for trading.

Not necessarily so for "the big picture". IOW... you might trade your way to $1 Billion for yourself, but if the government "confiscates" your wealth through inflation and currency debasement (which is a threat with all of this money printing), it won't matter how much money you have. You'll still be effectively bankrupted.

Over the rest of my lifetime, I genuinely expect the US Government to effectively confiscate perhaps 90% of my personal wealth through taxation, inflation, currency debasement. If that's "all" they do, I'll manage. If they confiscate EVERYTHING, I'll be F'd just like everybody else.

:(
 
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