Is That a Yuan In Your Pocket or Are You Just Happy To See Me?

[mallorys_camera]

But today's big news is that Russia and China are quitting the dollar.

Comments

[nokomisjeff.livejournal.com]

That's a lot of rhetoric. Whether they do or not remains to be seen. However, I wouldn't blame them as we're debasing the dollar. The dollar has lost 95% of its value since the Fed was created. That Russian/Chinese thing came over my Bloomberg yesterday while the market was open and the stock market still went up, although the bond market was hit hard, but for different reasons.

[mallorys-camera.livejournal.com]

Stock market went up on Black Friday expectations didn't it?

[nokomisjeff.livejournal.com]

No, the media says the driver is the drop in unemployment claims which was a surprise. However, holiday markets are always thin and subject to big distortions on small volume as the players have their minds on other things. The real reason the market went up was because there were more buyers of common stocks than there were sellers and conversely, there were more sellers of bonds than buyers. Still, I'd take what the media says about the market with a grain of salt as they need to say something as that's their job, so they pull a reason it moved out of their collective asses. Whether it truly reflects reality is for the consumer to decide, but remember that reporters are observers and they can't observe any more than I do. Plus, the people they talk to are always presenting spin on stuff, talking their book so to speak. I don't know why anyone even listens to the business media, for sure, the professionals don't. The general public hangs on every word of what the media says, and the general public is always wrong. In fact, for the system to exist, it is essential that the public always buy at the offer and sell at the bid, and sell at the lows and buy at the tops. That's why nobody should mess with the markets.