I was tracking the futures before I went to sleep and after I woke up early this morning.
I knew that a rescue mission was afoot by 10:00 p.m last night, but it began at 8:00.
Okay, that’s expected. This morning, before the employment number release, the news was busy explaining the futures ramp as due to hope over renewed Chinese trade talks. However, no such news came out last night of which I am aware.
There’s a meeting on Monday, but that’s been booked for a while, so that doesn’t explain the activity last night.
So that’s a crap “reason” and the far more likely reason here is that the PPT, and/or its equivalent in the predatory and redistributive central banking ecosystem, needed to step in and inject some confidence in the system.
If that’s the case, then a combined stock futures ramp that (1) hits all major markets would be combined with (2) the selling of gold. Gold of course represents a threat to confidence in the money masters, and they hate that.
So here we have:
Whenever I see such combo pairs in the overnight “”markets”” I am 99.44% sure that the authorities have stepped in to “make the world safe” or to do “god’s work” or whatever BS rationalization they use to accommodate their market destroying activities.
Also, you can be 100% certain that the proprietary trading desks of a few very large and well-connected banks made out like bandits on all of these trades. Of course they did, they both knew about them in advance and facilitated them by being heavily on the “right side” of these trades.
In other words, because no Wall Street executives have been prosecuted for manipulating “”markets”” and fleecing investors, not under Clinton, nor Bush, especially not Obama, and neither her under Trump, this is “protected” activity.
It’s the merger of monetary policy and political aims with banking profiteering. Winn-win-win for the ruling class. Nothing to prosecute because, hey, it’s a great system.
Unfortunately, every time they do this their enrichment comes at the expense of someone else. Such is the nature of daytrading. Winners = losers. Further, their many tens of billions were not the result of a single thing being produced or fixed or improved. Just siphoned off.
But from where?
For that all you need to do is visit Detroit, scan the Illinois pension books, or drive over the bridges near my house.
We need the Yellow Vest movement to spread to the US and take our discontent straight to the people responsible so they at least know we are aware and willing to hold them accountable.