Black Monday

[Aaron]

"Fink and Blackrock are criminals. The FED is paying Blackrock to buy its own etfs. Conflict of interest. END THE FED. Buy Gold and Silver. This stock BUBBLE has popped. The FED has been propping it up 100 percent since MARCH."
https://finance.yahoo.com/news/black...125917150.html

Blackrock has 5% of Fletchers Building and 5% of Contact Energy. I wonder how many other NZX companies they own just under 5%. With the NZX 50 capitalisation at $150billion and Blackrock managing $7 trillion it is a shame (or outrage) they are being given cheap money to take income generated in NZ, offshore. These are the companies being protected by central bank policies.

[kiora]

Blackrock has 5% of Fletchers Building and 5% of Contact Energy. I wonder how many other NZX companies they own just under 5%. With the NZX 50 capitalisation at $150billion and Blackrock managing $7 trillion it is a shame (or outrage) they are being given cheap money to take income generated in NZ, offshore. These are the companies being protected by central bank policies.

Precisely!

[Baa_Baa]

yea its all about fomo and momo now and who can print the most. fundamental analysis is dead in this environment

An interesting take on who is buying and who is selling to them. Particularly the participants charts, especially who the countercyclical investors are.

[Entrep]

Imagine that the Fed hired Blackrock to buy Junk Bonds and ETFs to bail out Blackrock’s Bond portfolio and then Blackrock bought ETFs managed by Blackrock from Blackrock that have as their biggest holding, not bonds but a Blackrock money market fund

https://twitter.com/paranoidbull/sta...173453319?s=21

[moka]

"Fink and Blackrock are criminals. The FED is paying Blackrock to buy its own etfs. Conflict of interest. END THE FED. Buy Gold and Silver. This stock BUBBLE has popped. The FED has been propping it up 100 percent since MARCH."
https://finance.yahoo.com/news/black...125917150.html

Corporations can get away with “crime” because although they are under the law defined as legal persons corporations cannot be jailed when they do wrong like living persons. They have the rights of a person – to own property etc, but they don’t have the responsibilities. So when there is criminal behaviour like that found during the Australian Royal Commission into Banking corporations get off lightly. They may be fined, but the extra profits they make from misconduct more than cover the fine in the unlikely event they are held accountable and fined. Rarely is a director or someone from a corporation jailed.
The National party says it will be tough on crime. However criminals are poor people, gang members and those who use physical violence, not those in corporations who swindle the public.

[moka]

More criminal behaviour at the top - Treasury is enabling the Fed to break the law.

https://realinvestmentadvice.com/the...y-light-speed/

Per the Federal Reserve Act, the Fed can only purchase or lend against securities that have a government guarantee. So how can they purchase non-government guaranteed securities?
The simple answer is the Treasury is enabling the Fed to side-step the law, or to be more accurate, break the law.
As the Fed’s accomplice, the Treasury Department provides $75 billion of initial funding from the Exchange Stabilization Fund. The funds are deposited into a special purpose vehicle (SPV), and specifically aimed to purchase secondary market corporate bonds. Technically, the Treasury, not the Fed, is buying those securities on behalf of taxpayers.
Enter the co-conspirator. The Fed, acting as an intermediary and employing asset manager BlackRock, intends to leverage that amount ten times. This allows the Fed to buy an additional $675 billion in securities and select Exchange Traded Funds (ETFs).

[Balance]

https://www.nzherald.co.nz/business/...ectid=12334142

NZ banks instructed to have systems ready by 1 November 2020 to implement negative interest rates.

May not happen but more likely, will imo as the economic settings re unemployment are starting to get really bad out there.

[moka]

On May 7th the Reserve bank sent this letter to Banks regarding negative interest rates (opens as a PDF.) It says that negative interest rate will not apply to retail customers.

www.rbnz.govt.nz › media › ReserveBank › Files › ump

The purpose of this letter is to outline that negative interest rate functionality in the
New Zealand banking system remains a priority from an operational and risk
management perspective.
Towards the end of 2020, we intend to assess banks’ capability to operate with zero or
negative interest rates on:
a. the Reserve Bank’s standing facilities and ESAS balances (including above credit tiers
should these be reintroduced);
b. a range of financial market securities (e.g. bank bills, bonds, interest rate swaps, and
derivatives); and
c. all products relating to non-retail customers.
Based on international evidence, interest rates on retail products have tended to be bound by zero and we do not expect banks’ retail systems and documentation to be prepared for negative interest rates.

[bull....]

An interesting take on who is buying and who is selling to them. Particularly the participants charts, especially who the countercyclical investors are.

the fed

will never be able to stop printing and will never be able to raise rates again without bringing everything down. be interesting the future for sure

[Fred114]

An interesting take on who is buying and who is selling to them. Particularly the participants charts, especially who the countercyclical investors are.

Meanwhile, for the bottom 90% it's just the opposite....the rich are dumping their stock to the poor.The technical term is "distribution".