Well, there it was Thursday, out in the open, reported by a mainstream
financial news organization, Bloomberg, if without any recognition of its
meaning. All the major central banks are plotting coordinated intervention in
the financial markets if the United Kingdom votes next week to reclaim its
independence by withdrawing from the European Union:
http://www.bloomberg.com/news/articles/2016-0...tral-banks-s...
Citing a television interview he gave in Bern, Bloomberg reported that
Thomas Jordan, president of the Swiss National Bank, said "officials
could act in global markets to prevent any 'exaggerations.'"
A member of the governing council of the European Central Bank, Ewald
Nowotny, was quoted by Bloomberg as saying that central bank currency swap
arrangements will ensure that lenders "have access to liquidity during
any 'disturbances on the market.'"
How much "exaggeration" and "disturbance" will be
allowed? That is, what range of prices will be permitted in which financial
instruments? At what points will central banks intervene? Of course only they
and their agents will be permitted to know that; ordinary traders and
investors will have to guess. Market manipulation works much better if it is
concealed.
And when the crisis -- if there is one -- passes, no doubt the
"technical analysts" among the financial letter writers will haul
out their silly jargon and enormous egos in an attempt to demonstrate that
there has been no intervention at all and not even the threat of it and that
everything that has happened can be explained by the tried-and-true formulas
they long have been using to explain market movements.
Doug Casey of Casey Research would say that nothing central banks do
matters, though they are authorized to create infinite money and deploy it in
secret without any accountability.
Steve Saville of the Speculative Investor would produce four charts
"proving" that there had been no government intervention in markets
anywhere since the Reichswirtschaftsminister took control of pricing stocks
on the Berlin Stock Exchange in February 1943.
Market analyst Dan Norcini would insist that the Thomas Jordan interviewed
by Bloomberg Television was a different Thomas Jordan, not the Swiss central
banker.
And newsletter writer Avi Gilburt would expand on Casey's posture,
declaring that market rigging and the deception and cheating of investors by
government mean nothing to humanity and the only important thing in life is
how much money his subscribers have made with his recommendations since last
Tuesday.
In the face of these central bank proclamations of their plans for
intervention, all these market analysts are invited to analyze a great scene
from one of the "Naked Gun" movies to see if they can identify the
character they most resemble:
https://www.youtube.com/watch?v=rSjK2Oqrgic
