Morning blog market comment, My Take on the Fed, markets including gold and $SPX $GC_F $GLD $LULU $COST #bernanke
In the not too distant past, I discussed the special money creating app that came with Fed chairman Bernanke’s latest iPhone. It turns out, that he exported the app to various central banker chums around the world. On their conference call on Tuesday, sources tell me, they all called in at the same time to create a sort of app energy force (think Ghost Busters), where they were careful to not cross the streams. This energy force, which promises coordinated Central Bank intervention to prop up credit markets with liquidity did the trick and saved the day. The Central Banks have stolen a line from singer Carole King: “Winter, Spring, Summer, or Fall, all ya have to do is call, and I’ll be there, Yes I will. You’ve got a friend.” They will be there for all of their large banking friends and family. In all seriousness, it’s the potentecy, or efficacy of these injections going forward that has me wondering.
Read more here: