Bill Bonner on Dow 15,000
Buffett to Bernanke: It’s Easier To Buy Than To Sell
The Dow rose another 48 points yesterday. Gold was up $24 per ounce.
Nothing remarkable. Nothing illuminating, either.
The newspapers and TV channels all reported the Dow 15,000 story as though it were just a stepping-stone on the way to 16,000… or 20,000… or 30,000.
Heck, the sky’s the limit!
I’ll tell you what will happen when the Fed stops QE.
All the pros and knowledgeable investors who follow the market daily will bail.
The average Joe and buy and hold investor will be left holding the bag.
The short sellers will have a field day.
It’s not brain surgery.
Stephan…….what about the printing in JAPAN,,,,?
“So far, so good”
Those were the words that inadvertently came out of FED head Bernanke today at the annual speech on banking and finance. It was a classic slip of the tongue. What was he referring to? Microsoft stock price. He said it is higher now than before the crises. Yes it might be in a bubble, but so far, so good. Basically he played his hand. Higher stock prices are the goal. The FED will see to it. There can be no doubt the fed is and will continue to manipulate stock prices, and housing prices higher with infinite QE. I don’t think either there can be any doubt they are also manipulating the gold price, directly or indirectly with the bullion banks, Jo Morgan’s and Goldman Sachs as willing accomplishes. How long will this go on? Anybody’s guess. One thing is for sure though, It cannot go on forever. This grand experiment of cheap money brought about by the Keynesian poster boy Bernanke must end badly. Now we are engaged in currency wars as central bankers around the world race to the bottom. And gold goes down? Just can’t be without central bank suppression. The pain is real, it will continue, but it will end. Hold on, hold gold…
5
Perhaps of interest to those who may never have a chance to visit Wood Buffalo – Fort McMurray.
5 minute video gives a quick overview of the area as regards to housing development.
http://www.taiganova.com/
Meanwhile, in other news .. pipelines going crazy.
As I have no idea if it keeps charging higher or takes a major summer break, I sold a portion today of Pembina Pipeline (PPL.TO)
Anything that far above the 200dma (40wma) makes me nervous.
http://postimg.org/image/b4lc9yjuv/
Jeff,
Who am I to question the “godlike” Buffett? (wink, wink)….he says this is liking watching a good movie because we dont know what the ending will be. (Huge, massive inflows of cheap money to infinity) I dont know if Buffett is an idiot is disguise or slept through history 101 in grammar, high school and college. Is Buffett untouchable? Hell no, he is a “ultra-rich paper” guy who has completely LOST TOUCH WITH REALITY. I know what some of your are thinking – he is the ultimate ‘dont fight the fed guy” and his reality could go on for a while…I dont think so -I would tell that to his face if I could. BTW, he might be ultra-rich, so to speak, but he put his pants on in the morning the same way I do and I am sure he sh___ts like everybody else.
Marc
Excuse me… 🙂