Right call on markets, wrong on Ceres πŸ“ˆ

Right call on markets, wrong on Ceres πŸ“ˆ

In my opinion, what we witnessed on Friday as a result of Powell’s sticking to his guns re rate increases (which to me seemed pretty obvious but unusually caught the markets with their pants down) is the harbinger of total market capitulation.

For central bankers (CBs), this is an existential crisis, for a loss of confidence in fiat would be their demise, and when the (mutually exclusive) call is between protecting stock markets and central banks fiat, it’s an obvious choice.

The only wrinkle in all of this is the impending pain and hence a build up of pressure for political interference. In other words there is still time for idiot policy makers to fuck things up if they can undermine CBs independence and determination.

And this pain would be bad enough in a “normal” world but now it’s going to have epic reverberations.

My recent analysis on Ceres is now in the bin – fundamentals are only relevant as they relate to liquidity now.

“the only way is down, baby!”

The bible bashers are going to be out in force. Hold on to your hats and “buy useful stuff” if you can afford to …

I’m now looking to buy back into shell; we need power and “dirty” will do; green can take a back seat for a while.

just saying … πŸ™‚πŸ“ˆ