3 June Bernanke show hands

as I have said, the FED and Treasury are now into the market, intervening to support the Dollar.

Bernanke has said explicity that it is onhold. the current rate is conducive to promote growth.

Giving support to DOllar when the Hedge Funds are taking profit on their Oil Trade and switching their DOllar out into other currencies.

The high oil was waiting for the push on the Dollar before they are willing to take profit.

however, is USD really so attractive overnight ?

USD has been many time longer on earth than Euros. There are still droves of pple waitng to cash out of USD.

As I have warned my Readers, the spike up in the Europe open was a fake move.

Not too long ago, Bernanke was once talking about watching inflation, and then when the subprime hits, he quickly changed tune and cut 75bp.

FED has a crediblity problem. And we know that there are more subprime out there.

Hence the money mongers are setting up another show, first a Goldilog scenario, economy is on recovery, interest rate is right. Sucking in all the monies.

Then suddenly a bad data, and then market plunge again. While the Funds would have finished selling into the rally.

What is the Money mongers need now is to take profit. And FED and Treasury is in cohoots to make that happen, a higher USD, to allow the Oil funds to cash out, and then a market rally to allow the Funds to sell into it.

Then the top has come, and another plunge begins. This would be the mother of all plunge. S&P would be into 1100 territory.

FED would have to start to cut again, and Euro return to test 1.6000.

It is all too familiar.

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