In Gold, NASA, Silver on Sunday, July 26, 2009 at 9:09 pm
A hundred years from now, someone may ask why America was allowed to run up astronomical deficits. I think a large part of the answer may lay in a small step…As putting a man on the moon became a reality; the US dollar became a nebulous concept, backed primarily by the implied threat of technical superiority. It’s been forty years…and I’m still not sure if we are falling or flying.
I once heard that, “Genius connects the seemingly unconnected“, but my wife insists I remind you that psychotics do this as well.
I’m not sure whether or not Neil Armstrong and Buzz Aldrin actually walked on the Moon July 20, 1969. What I will say with absolute certainty is that either way, the world got swindled, unless you consider Tang® and Tempur-pedic® mattresses “payment in full”. What NASA represents to me is the beginning of a national tradition of white-collar welfare that continues to this very day (Wall St. – I’m looking in your direction…..).
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In Open Thread on Thursday, July 2, 2009 at 12:49 pm
Well not really, but it was one year ago today that manipulation got taken to a whole new level.
Before the Oil traders got the rug pulled out from under them….
Before the dollar began an uptrend….
When Lehman Brothers was still more than $20…..
This happened to the KOL ETF:
And no one noticed…..
Fourth of July week is typically very low-volume, so if you’re going to manipulate something, that’s the time to do it if you think you can get away with it. Was there any reason that on July 2, 2008 KOL had it’s highest volume day ever? (9x average volume to that point).
Um, to answer that question in one word….No.
At the time, I scoured the internet for news, and there was a report that coal prices had pulled back in England, but talk about disproportionate responses…..
Looking back, this was the moment that I should have clearly understood that US equity investing is no different than playing three-card monte.