Well, I know I promised to stay away from my blog. But a 1000 point drop in the Dow is reason enough to renege on a promise.
I’m going to state my considered judgment that that was no accident. It looked deliberate (like September, 2008) and seems to follow on other deliberate attempts to induce panic….(not that anyone needs to try very hard to do that, since the way governments are behaving nowadays is panic-inducing enough)
Why do I monger conspiracy thus?
Rewind to the early part of April, a period that has occult significance, as it includes Hitler’s birthday (April 20). It also carries dark overtones from recent history in the US – the Columbine shootings (April 20, 1999), the Federal assault on Waco on April 19, 1993, and the WTC Oklahoma City bombing (April 17, 1995) and from WW II history (the NKVD’s massacre at Katyn in April 1940 , and several other important incidents related to the Nazi prison camps).
1. On April 10 we witnessed the “decapitation” of a large part of the leadership of Poland under the strangest of circumstances. Poland is a country that has been resisting the economic demands of the EU one-worlders and rearing its reactionary nationalistic head on several occasions, to wit., the devaluation of the zloty. The plane crash erased the bulk of the nationalists in government at one shot.
2. This mysterious crash was followed by another smaller but equally strange incident when Eurocontrol (correction: I read that the ultimate decision was not made by Eurocontrol but by EU members acting with coordination from Eurocontrol) over-reacted to the eruption of the Icelandic volcano and grounded the entire airline industry in many northern and western European countries, shutting down 70% of European flights and hitting the economy severely again. Hit two to the markets.
This was followed immediately by widespread panic (around April 7) about the lack of physical gold in a number of vaults and behind the majority of contracts. That was hit three.
4. At the same time (April 16), there was the SEC filing of charges against Goldman Sachs. I’m all for flaying Goldman alive, but there’s no denying the “staged” elements of the case, its tardiness, and its potential to set off more litigation that could maul the banking industry badly. Hit four.
5. Now, against the background of street riots in Greece, with the EU tottering on its gouty feet, comes hit five – a market plunge of historic proportions apparently from a bizarre trading “mistake.”
Update: 6. April 20, blow up of BP oil rig/
Add in a few other suspicious developments, and malice aforethought rather than chance seems the more plausible explanation….
Now was it Goldman’s High Frequency Trading programs sending a warning to investigators? Or was it the infamous Plunge Protection Team? Perhaps this was a message from the Federal Reserve to those who want to audit it…..that bill has now been “gutted.”
I have my own ideas, of course. But they’re no more than theory at this point.
Whoever did it, I suspect money was made both on the way down and the way up.
Jim Rogers on Goldseek radio had the best word for the whole frightening mishap. He said someone should suffer for it. This is New York, the HQ of the world capital markets. If the NYSE can’t get it right, time to get rid of them.
But of course, no one is going to go anywhere. No one is going to suffer for their mistakes. The only people who will suffer, as usual, is you, me, and the rest of the investing public.