Propped up by Phunny Money printed up by the Fed and pipelined over
Why does that only prop up stocks and not gold and oil?
to Lloyd Blankfein at Goldman Sachs, who gets to play in the big casino with B-drinking tatlers
So Goldman sells bonds yielding 2%-4% in return for cash yielding 0.25% and that's a good thing for Goldman? Why?
Oh, come on. Don't tell me you haven't heard about the Fed's war on gold over the last, um, 20 years? Forty years? I don't know how far it goes back -- But gold is the competing product, the alternative to Phunny Money (fiat money) puked out by the Fed and the ECB.
The Fed ran a scam for years dumping gold through Barrick Resources (owned their stock at one point) and Newmont Gold, both of which ran hedge books of forward sales (and purchases). Normally a balanced operation, the companies' hedge books became fronts for a Fed gold-dumping operation that suppressed gold prices in the 90's. Since then, gold has flown up as the Fed and ECB stopped dumping. The underlying competition between Fed paper and gold continues, the Fed having simply found other, effective ways to suppress commodity prices and strengthen demand for its paper, as it did in the summer of 2008.
But you're just setting up a putdown, aren't you? Go ahead, lemme have it.
So Goldman sells bonds yielding 2%-4% in return for cash yielding 0.25% and that's a good thing for Goldman? Why?
Commish, use of Black Card cash tranches from Helicopter Ben (what shall we call Yellen?) and "near-perfect knowledge" to graze on the smalls.
They can make money in any environment. They are Masters of the Universe.