This morning (12-3-09) I was glued to the TV and the Senate Banking Committee hearing on the reinstatement of Ben Bernanke. The old boy from Kentucky, senator Bunning, was giving him the work over! Boy, did he let him have it!
Bunning ended his comments with "Your Fed has become the Creature From Jekyll Island". WOW! He also told him that he would do everything in his power to see that ol Ben was not reinstated as Fed Chairman! It was good TV. I wonder if they will even show any of it on the news? I doubt it.
Bunning also asked questions of why the bail out companies were ever allowed to pay such Huge bonuses to their executives. He brought out several other good points and questions which Bernanke never answered. Senator Dodd wouldn't even allow it or make time for it (I don't think Ben wanted to respond to the points anyway).
If you have never read anything about the Creature From Jekyll Island, you should. You can find YouTube video (you may even see some here on this blog) as well as the book online. Just Google it and you should find all kinds of links to it. You will discover some exciting history that often is not covered in the main stream. In fact, the main stream tries to ignore or flat out discredit many of these historical events.
It never ceases to amaze me how much wool the big boys have pulled over most folks eyes. So much so, that if you try to tell people these things, the majority of them will think that you have lost your mind.
Personally I don't think there is much we can do about it. Many investors are wondering what will happen with the Fed.
As index traders we really don't care what they do (we figure it will probably be wrong anyway). We just follow the index wherever it goes for income that they can't take back from us.
That is what index trading can provide for you, an income they can't take away. Good to have this day and age!
It really does not matter what the market (or Fed) does, we can go along for the ride. The question is, will you be with us, or setting on the sidelines waiting for a real solution to the world's problems? (Hint: Don't hold your breath while you're waiting!). The Fed will keep pulling their stunts with the money supply, and as traders we will go along for at least part of the ride. That way, we can cash in no matter what the Creature from Jekyll Island does.
Doug West has worked in Financial Planning and Investment training for over 20 years. Get his No-Cost Audio Report on how you can Secure Your Retirement with Free-Online Tools:
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