Tuesday, June 28, 2016

Brexit Was The Madoff Moment

The moment when Ponzi schemers got trapped by their own con job...

"It was all going along so well until that damn Brexit ruined everything"
January 2016:

The elites are panicking because their Ponzi scheme is unraveling in real-time. Even the world's biggest dunces are starting to notice, Greenspan et al...

June 28, 2016
Larry Summers: Central Banks Are Out of Ammo

So what to do?
Do what they always do - blow smoke up everyones' asses non-stop. Draghi bid the futures overnight by babbling on about "coordinated intervention". Meaning that Central Banks will now weaken every currency at the same time. Only a Central Banker would think that's actually possible.

Rewind a few months to the last time we had "coordinated intervention" - Remember the Shanghai Accord to temporarily weaken the dollar in March of this year?

That's when the smart money exited their positions...
Goldman Sachs clients always know something, don't they?

Because deflation (poverty) did not come along for the ride...

Nor did Global financials, bond yields, and global carry trades...

It was the last chance to sell:

And it got sold
Price / volume: