17 December 2009 - 16:55Market Commentary 12/17

As many traders wind down for the holidays the U.S. dollar is getting a much needed boost by the pressure we have put on Congress to scrutinize their spending and that of the Fed Reserves activities. Bernanke’s claims of ending the “quantitative easing” (printing money) as he sought reappointment to the chairmanship of the Fed helped to shore up the dollar in recent sessions. We shall see if now that he has been given a pass by the Senate if he follows through with this or if his organization will continue to loan money into existence at record levels.

Meanwhile stocks took a beating today on the Dow composite and zombie banks like Citigroup are drooling on themselves wondering who will bail them out if not the Fed. Without the “quantitative easing” this suckers rally wouldn’t have occurred and it seems that traders are securing profits on this Fed inspired rally while they still can. If the trading range of the Dow is broken to the downside, we could very well see additional gains in the dollar in the coming weeks. Last year we witnessed a dollar rally on the back of the stock meltdown. This year we saw the injection of the funny money which brought stocks up and the dollar down. Again, if Bernanke word can be trusted (it can’t) and the printing press is shutting down expect to see a rally in the dollar and another crash in stocks, at least in the financial sector.

The third factor to consider is the Climategate situation, where we have communists like Hillary promising to give $100,000,000,000 A YEAR we don’t have to “developing” nations (read transfer of wealth) to help them reduce emissions of naturally occurring compounds. The sad truth is, the people who are supposed to be serving us in government are swearing their allegiance instead to global socialist governance through the UN. The only way to accomplish that is to sabotage the U.S. economy and the U.S. dollar which will bring America to it’s knees. Which is exactly what Bernanke and Obama have been doing. Now the CFR’s evil offspring, the Crap and Trade conference and the U.N. itself are in position to make the new world order reality with our sitting president also president of the U.N. which by the way is illegal according to the constitution he was elected under. By the time he is done with his subversive activities, We will be longing for the days of JR who if nothing else knew when to tell the U.N. to go stuff themselves.