The guy on Sky Business this morning said because NYE fell by 5% last night - then Australia would fall by 3.5% to 4%.
Guess what within 30 minutes of opening the Aussie Stock Exchange fell by 4% - does this smell of dealers rigging the market or what?
You really have to wonder if the Big Fund Managers are merely playing with numbers and to hell with the Mums and Dads money they are playing with.
One of the biggest factors that set us up this year was the Oil Price. Because Oil is a safe commodity the Futures Dealers started playing with the contract price and simple setting up markets for their own benefit. They also set up their own “stooley” pigeon economists to try and tell us why this is so.
Because of the price surges and oil effects absolutely everything we do in life then The Federal Reserve Bankers want to tell me inflation is out of control and the market is overheated so let’s jack up interest. All by a price that was clearly fake but had such an effect on so many dimensions of our daily lives.
If it were not for OPEC coming out and telling us that they felt there was not a shortage in fact they were cutting production which they have now done twice did we see the Oil Price fall. Defies logic really.
But what if the dealers have said – oh hell we have been sprung playing with this safe commodity lets bail out. Oil has fallen and now we want to use this as demand having dropped. Are you getting the conspiracy picture here – oh no the world is coming to an end syndrome to reset the markets for the dealers to play again.
Clearly greater controls have to be placed on Rogue Traders manipulating markets and causing undue pain. I remember a trader back in the late ‘80’s – he was so cruel in his manipulation I understand Reuters would flash out a warning “He’s In” every time he logged on. I fear we are being controlled by out of control money men. Simple really isn’t it.