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The top of this cycle for ASX200, cash is king ?


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Conflict of Interest? What conflict of Interest!


Most Americans likely assume that Jerome Powell, the Chairman of the Federal Reserve, is an economist, like the prior chairs of the Fed over the past 40 years. Heâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s not. Powell is a former investment banker at the Wall Street firm, Dillon Read; a former partner at the controversial private equity and leveraged buyout firm, the Carlyle Group, which has spent over $1 billion over the past decade lobbying the federal government; and a former lawyer at Davis Polk, a Big Law firm that played a key role advising the government and Treasury in the 2008 Wall Street bailout.


Powellâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s background would be strange enough but now consider this. The Vice Chairman for Supervision at the Fed, Randal Quarles, who is in charge of supervising the largest and most dangerous Wall Street bank holding companies in the U.S., has an uncannily similar background to Powell. Quarles also worked previously at Davis Polk and the Carlyle Group. (Powell and Quarles are also good friends, according to Senator Elizabeth Warren.)


Both men were well schooled in leveraged buyouts before coming to the Fed. Both men are now involved in what is effectively levering up $454 billion of taxpayersâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ money provided to the Fed under the recently passed CARES Act into a $4.5 trillion leveraged buyout fund of toxic debt from Wall Street banks. After taxpayersâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ take the first $454 billion in losses on those purchases, the remainder may be sold off to private investors. If this sounds to you like a set-up on behalf of the one percent, it should.


Powell is a member of that one percent class. According to his 2019 financial disclosure, his net worth could run as high as $55 million. Much of his investments are with Goldman Sachs (a Wall Street bank that is supervised by the Fed) or with BlackRock and its iShares Exchange Traded Funds (ETFs). The government mandated financial disclosures report investment values in a range. The upper value of Powellâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s holdings with BlackRock is $11.6 million. The upper range of Powellâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s holdings with Goldman Sachs is $16.55 million. The name Goldman Sachs has been shortened to âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“GSâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ in the disclosure document.


These would appear to be large conflicts of interest. BlackRock has been selected to manage the unprecedented buying of both investment grade and junk bonds on behalf of the Fed to the tune of approximately $750 billion according to the most recent term sheet from the Fed. Even more conflicted, the Fed will allow BlackRock to buy up its own sinking junk bond ETFs using taxpayer and Fed money.


MSM don't seem to think any of these things matter.


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I wish I had the answers.USA basically bailed out the big end of town.

Small people have a choice, work or starve.


You may have noticed reports the virus has mutated ? It has and whilst still not peer reviewed enough there are virtually no dissenting views. None of value.

USA is testing at 240k per day and getting 10% positives.

Italy and France and Spain getting 2% positives and Germany 1%.

Australia and NZ a very different scenario and we are getting 0.1% or 1 in a 1,000 positives.


You may have noted one of the best medical systems Singapore has lost control .... with infections. It has hope of getting back on track.

USA has no interest in this. Remdesivir does not work, flat out does not ... nor did the malaria drug .... nor bleach ... or whatever BS Trump or UK Boris may push.

It is draining to listen and watch. Both, well Trump has a mental disorder. A mere month ago it was back to work for Easter. Easter Sunday seems like 50 years ago but was April 12th 2020..

USA has had 800,000 more infections and 50,000 more deaths.'

Today, to distract you ... Trump is again claiming victory and its safe mulling over when to disband the virus task force when the virus has mutated into something that spreads more quickly !!


I would prefer to be an optimist but I am not delusional. USA at 24,000 infections a day and more than Italy ... needs to be testing for 330 million at 500k plus a day. If not more.,

This new strain is looking like its one that possibly one can get time and time and time again. I hope not, the virus is new and data is new so we hope not.

Since Trump congratulated himself at 4,000 cases ... and now at 1.2 million doing it again, deaths and infections seem not to matter. They do however to those not in the rarefied air of Trump tower.


I note UK and USA now claiming to be doing a trade deal. Since the UK has yet to even agree on Brexit final details, and Boris ... like Trump looking like an idiot for CV19 ... this is absurd. A trade deal with a nation 6 hours away via fast jet ? This to one side, these deals are complex and take years. Years because they can breach other deals and well without Brexit with the EU ... its impossible to do any deal


Australia and our dear NZ friends likely go close to getting rid of this Virus. Fingers crossed. Download the app ... Google can locate you within 1 meter at all times and half the apps you have on your phone have GPS turned on ...


This said, the road out will still be tough for Australia. No overseas travel for 12-18 months ? A vaccine and one especially coming form the USA without TIME and clinical trials stages ... takes TIME> shortcuts lead to ... worse outcomes. Try the Bleach first !!


USA narrative is via Trump ... and corporate media on the main its safe. Being locked up for 27 days ...EU nations for 50 ... does give you zero immunity. Less so for USA. Neither for Australia but with zero new cases for say 14 days ... then 28 .... I will be feeling quite safe. Still no overseas tourists, no students .... and well ... the rest of the world is in a far worse place.


UK reported 97% fall in car sales ... yep sure one month.Its cases have as yet to peak ... so its not coming out of lock-down in May ...

Just sticking to cars ,,, so another poor month of sales.After that ... sure some pent up buying but twice as many without income or worried about it and their job future .... hmm at best for the year car sales down 2 months ... bad 97% and then say 70% and a few at minus 20% .... and then the rest at minus 10% .... down 20% plus year on year ?


Then take say ship building ... no cruise liners being ordered .... no tankers ... not with oil well below break even ... as for the absurd USA tech prices ... business will use windows 3 version from 1996 ... rather than the latest ...


Las Vegas ... golly ... it only exists for tourists and if its open again, well ... unless your mad ... down 70% this year ? I know Trump idiots are just that but ... maybe a bit better ... but it will be a smoking crater at best.


Fed and Trump .... gave one massive tax cut to the rich already ... bailed out the big end of town and ... well ... ignored the small end. Not sure what the small end will do with 500,000 deaths by end of 2020. That's the top end of my numbers. Likely with extreme regret its 250k. Around 128k by June 30th 2020.

These are humans. As yet, there has not been time to reflect and dwell on many counties in the USA, large ones .... not just NY but ones in New Jersey and Connecticut with 2.5% plus infected. Insane levels 5 times Italy.


As always I reduce into rallies. Sometimes and ... at times like this, a miracle is not possible. Sorry but its a virus. Yes one cure may show promise and some being tested, are showing some improvements ... without awful side effects like Gileads Resmidivir. The mortality rate actually appears to be 150% of NOT using it but the USA just approve it for use without even a clinical trial that is blind tested .... they actually just removed those who ... were having extreme reactions and dying. The drug actually costs a mere $10- a day to make and say $100- .... is going to sell for USD $4,500 a course.

IT does NOT work ... never did. ...

Most doctors know this, but, well greed and the USA body overseeing the drug is ... controlled by paid for Gilead people. Some declared it ... most did not, people doing the study reported, paid for associates and one for over 20 years, not mentioned of course in the clinical trial study.


This is the world of Trump.


Pre GFC I was talking about stimulating the corpse and giving the cancer patient aspirin. That was Bush .... Obama was not much better. Just better PR. Under Trump ... no aspirin for the ill, just a nice shot of bleach.


I do have a secret cure for Covid 19 .... dont tell anyone ... eat asparagus ... then the real secret is drink your own pee. In fact bathe in it ... and if you can surgically get a catheter inserted into your nether regions ... and a bag with a straw so you can sip sip away. Bathing in it ... well it takes care of social distancing and if only these neo liberal arrsehhhollles ... would try my remedy they would too stop reproducing and since they have already mutated into a lower form, its solves many problems.


But keep it a secret and the Asparagus is key !! It makes it more pungent.


I await Trumps next magic cure or utterance. I do wish someone would dose him with my secret cure. Diet Coke Mr President ? A long list of these types needs my cure.


Since Mr Trump sat there a few weeks ago and awarded funding ... like Shark tank ... he sat ... heard their proposals and well one company which has NEVER produced a vaccine and NEVER produced a drug, but was convincing and promised action and testing within 2 months, MR Trump awarded them a company called Moderna ? I think ... USD $483- million. Please do not tell anyone about my secret cure.


I have high hopes of winning a bet that I can both get $100- million in funding and make the President of the USA drink my pee ....


I wonder what I will charge per course, its all natural ... strictly enforces social distancing and ... well if Gilead can sell something at 50 times cost and its sells another AIDS drug at 100 times what it sells overseas ... hmm .... $5,000 a dose ? Here Try some Mr Pence ... Mr Munckin ... I dont have enough pee for all of them !!


Better make it $10,000 a dose as they love something rare.

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Download the app ... Google can locate you within 1 meter at all times and half the apps you have on your phone have GPS turned on ...

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢


Benjamin Franklin 1775



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âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢


Benjamin Franklin 1775


Life is the penultimate liberty, without it, nothing else matters.I would hardly call Google tracking me, whether I like it or not, or Apple which is worse, Apple phones ... a liberty.


Even if you go in and turn off GPS ... your phone ... it speaks to towers and your location whilst not exact is ... known to your provider in my case Telstra.

Turning your phone off seems to defeat the purpose of the thing. That is to communicate to people.


Since I have little to hide, and more to gain, life and possibly the gift of life to another, I choose ... the downloading of the APP.

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Less than 2% community spread justifies this? Download the app and save a life....no thank you. What happens when they pair the app with CCTV and facial recognition software?


Pray have concern for TB, malaria and other such diseases of the poor that kill and maim millions of innocents per year that gets no attention from the pharmaceutical companies because there is no money in curing the poor because they can't afford the cure. Covid is a beat up in comparison if its not an experimental bioweapon.


If you want to feel good about yourself by helping others, make a donation instead.



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Okay ...

Opinions vary.

I love some people in this world.If I came into contact unwittingly with a CV19 infected person, I would be mortified if I infected say the woman I love or child.I would prefer to be harmed prior to harming them.For me thats what love is in part.


If downloading an APP ... means I reduce the risk, all be it small, I have done it.If I even infected someone else and having CV19 myself and being asymptomatic ... no symptoms till say 6 weeks latter, it would distress me to know I had infected someone else unwittingly and by downloading the app ... would help them get tested, treated and reduce the risk of them infecting others. A small price.


For me not to take a simple step, an opinion, who and what I am ... a core belief and way I live life would be absurd, and akin to deliberate driving on the wrong side of the road ... driving whilst drunk ... similar things. Not giving a F about anyone or anything is common, I get it. Selfishly I give a stuff about those whom I love. I also give a damm selfishly about myself and if unwittingly I came into contact with someone with CV19, I would prefer to know, get testing and treatment if needed.


Once with shingles, unaware it was contagious and basically mild, at age 35, I was sent home with nothing not knowing it was extremely contagious chicken pox and deadly to pregnant women and their babies or elderly, I was not amused ... since I had come into contact with one pregnant woman and felt the moral obligation when I found this out to call her and fess up, just in case.


So no ... dont download the APP .... if your wife or partner does not mean anything to you, go right ahead. Kids, grand kids, friends ... family ... even yourself and early treatment possibility. Nope none of that matters.


Same for turning off Bluetooth and leaving your phone at home or in the car ... its much the same.


Just my view, opinion, I do understand each to their own, but for me, how I operate, its not even a question. I love my better half, my family and friends along with lots of young ones .... and yes, even people I dont know, whilst not loving them, or being in love with them, I respect they have loved ones and ones that love them.


Must run and tell one of them I love them in these mad times.

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These interests and concerns are best served by respecting the concept of personal space which is now called social distancing, avoiding the shaking of hands, washing your hands regularly and staying at home when you feel unwell. Which is usually a cold. Do you think anyone is working on a vaccine for a cold? Colds can be deadly. Just as deadly as Covid. But as with Covid, the majority recoup just fine.


The bonus is, all of the above don't require an app because an app actually does nothing to prevent catching a cold or Covid or HIV or Hepatitis or anything else you wish to name.


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