The Rise In Oil Was Just Luck

 

Today's press conference with Ben Bernacke lasted some 45 minutes and provided a brief  insight into the bald headed Fed leader's brain.   The slow, drone of Ben Bernackes voice could lull any sleepless toddler right to sleep.  On the other hand his complete lack of regard for the savers in this country will keep many up each night.   His operation twist has savers, pension funds, bond holders, and banks  shouting.  He acknowledged this fact and said in not so many words that keeping this policy too long is not a good idea.  Really?  and you went to an IVY league school to learn that?

I took a few things out of this press conference that reinforced what I have already believed coming in.... Ben Bernanke is hell bent on destroying the USD.  Ben Bernanke will go to any lengths to do it, which means QE12 could be closer than you think  and Ben Bernancke has ZERO grasp on the seriously harmful affects of the Feds monetary policy.

He advised people today  to carefully consider their investment decisions, yet has pushed interest rates so low that the only way to make money is to risk it.  There are no careful decisions to make, those relying on savings income... its just gone thanks to Ben and his Fed cronies.

One of the more ludicrous statements from today was when he was talking about some reasons for the recent weakness this year.  “There has been a certain amount of bad luck.” He noted that Japan’s earthquake and tsunami hurt global trade, and a spike in oil prices hurt consumers. Now there’s the debt crisis in Europe and the potential for another downgrade in America’s credit rating should U.S. lawmakers fail to find compromise on a deficit-reduction plan later this month.   Is he out of his mind?  Oil is over $92 a barrel because you've printed over 1 trillion fresh fiat USD!  You call that bad LUCK?  How about bad planning by the FED!  Look in the mirror you bald........

Listening to this calm, mild mannered LIAR today really curled my blood.  While everyone in America is out buying fast food with their unemployment checks and food stamps, the tax payers who are busy trying to make enough money to pay their underwater mortgages, really need to listen to the Fed Chairman.  I'm not saying an Occupy the Fed, but people need to realize exactly what he's done and what he plans do to from here.  The rise in oil was not luck, and hearing the Fed Chairman say that... it makes you wonder how qualified he is for the job.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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