The “sporting men” consult the “hot sheets.” The hot sheets are “news” publications which offer possible clues to the discerning reader. Based on the daily hot sheet clues, the sporting men place their bets upon either red (“Fed” raises rates and stocks go down) or black (“Fed” does not raise rates and stocks go up) at the roulette wheel. (Background: Hot Sheets of the Sporting Men, Ersjdamoo’s Blog, August 4, 2015.)
It is a frenzied, adrenaline-filled life for the sporting men. Maybe even it is the adrenaline, and not especially the money, which excites them. Let us take a breather, ye sporting men, and look back at past excitements.
January 2009: The sporting men were drawing a false parallel between Japan’s Lost Decade and the situation in the United States. They forget, wrote Ambrose Evans-Pritchard, “that Tokyo waited seven years before resorting to the printing press. Mr Bernanke has no such inhibitions. He has hit the nuclear button in advance.” 
“Federal Reserve” Chairman Ben Bernanke and his colleagues were trying to turn around the economy, which had been “walloped by the worst financial, credit and housing crises since the 1930s.” 
“We know that last fall, the Federal Reserve lent $2 trillion to somebody or a series of somebodies, and we still don’t know where it went,” stated controversial radio host Rush Limbaugh in February 2009. Ben Bernanke and Treasury Secretary Henry Paulson had told members of Congress about “an electronic run on the banks, money market accounts…” 
As the new year began, Ben Bernanke was “trying to wind down emergency stimulus programs that helped avert a second Great Depression…” The “Fed” was considering withdrawing record monetary stimulus. 
By around February 20th, the “Fed” had made a sudden decision to hike an emergency bank-lending rate, triggering speculation on monetary tightening. “The Fed’s increase Friday of the discount rate, the interest it charges on emergency loans to banks, rattled stock markets.”  The sporting men had grown cautious.
A few days later, Congressman Ron Paul alleged that the “Federal Reserve” had been used to funnel money for various nefarious causes. “Why can’t we have an audit of the ‘Fed’?”, demanded Ron Paul. At a House Financial Services Committee hearing he explored the central bank’s role in Saddam Hussein’s reign and Watergate. Bernanke called the allegations “absolutely bizarre.” 
In testimony to the Senate Budget Committee, “Federal Reserve” front-face icon Ben Bernanke projected that “it could take four to five more years for the job market to normalize fully.”  (Four to five years from January 2011 would be 2015-2016.)
By now, Washington had crossed the Rubicon, declared Robert Morley of the Philadelphia Trumpet. The laws of paper money no longer applied to the mighty dollar. “America would just print up whatever money it needed to pay the bills.” 
“The damnable lies that continue out of lazy, corrupt media mouthpieces regarding the true state of the economy is nothing short of reprehensible,” fumed Devvy Kidd. “We expect ethically bankrupt crooks like Ben Bernanke and Timothy Geithner to lie every time they open their mouth to protect their banking interests. However, a free media is supposed to be the watch dog for government corruption and report the facts, not propaganda.” 
Reuters reported around February 29th that Mighty Bernanke had spoken of an “unacceptably high jobless rate” thereby suggesting the option of further “Fed” bond buying remained on the table.  The sporting men took note and went long.
The “Fed”, led by Ben Bernanke, was purchasing $85 billion in assets every month. The Fed was leaving its key interest rate near zero while it tried to reduce unemployment below 6.5 percent and hold inflation below 2.5 percent. 
All must grow weary over the years which pass, even the Mighty Bernanke. There was “intensifying speculation” that 2013 would be his last year at the “Fed.” Bernanke had skipped the “Fed’s” annual August conference in Jackson Hole, Wyoming and the sporting men were divining clues from this. “All eyes at the conference will likely instead focus on the Fed’s vice chair, Janet Yellen, who is widely considered the front-runner to succeed Bernanke.” 
Bernanke is gone and Janet Yellen has arrived. She is the new front-face icon for the “Federal Reserve.” Under Yellen’s direction, the “Fed” began to engage in a policy of “tapering” the amount of Quantitative Easing (QE), reducing by $10 billion a month the amount of U.S. debt the “Fed” purchases. 
“We are teetering on the edge of financial ruin,” warned Donald Trump, a.k.a. “the Donald”. Downgrading of U.S. debt was “inevitable.” And, added Trump, a magnet of fascination to many, “Right now, frankly, the country isn’t doing well.” And economist Robert Wiedemer predicted that Ben Bernanke’s Quantitative Easing, the “money from helicopter heaven”, would be a “path to hell.” 
Wall Street’s biggest bond dealers are amassing the most Treasurys since March of 2014. The sporting men see about even odds of a “Fed” rate increase in September. Regulatory requirements that necessitate banks to hold more high-quality assets have contributed to the jump in Wall Street holdings of Treasurys.  So instead of “Federal Reserve” buying the Treasury bonds, now Wall Street is doing it. “Fed” has ordered Wall Street, “Buy more high-quality assets (T-bills).”
ERSJDAMOO’S HOT SHEET FORECAST: The seven good kine are seven years. And the seven thin and ill-favored kine are seven years. (Genesis 41: 26-27) It was in late 2008 that the “Fed” rates went to near-zero. Seven years later brings us to late 2015. The seven good kine are interpreted to mean here 2008-2015. But for whom was it good, for Wall Street or for everyone else? And which will be our good years? They (the good years) were “just around the corner” they kept telling us in the 2008-2015 cycle. Do we the people finally get our good years now? And will it be vice-versa for Wall Street? Or will it be lean years for both Wall Street and the rest of us? Advice to the sporting men: Hedge your bets.
——- Sources ——-
 “The bond bubble has long since burst: investors, ignore this at you peril”, by Ambrose Evans-Pritchard. Telegraph (UK, online), January 12, 2009.
 “Deflation concerns grow as consumer prices shrink”, by Jeannine Aversa. Associated Press, January 16, 2009.
 “Shocker: Electronic Money Market Run Nearly Destroyed US Economy”, Rush Limbaugh transcript, February 10, 2009.
 “Fed Discusses Limited Bond Sales to Withdraw Stimulus”, by Craig Torres. Bloomberg, December 31, 2009.
 “Fed chief to throw light on policy after rate hike”, by P. Parameswaran. Agence France Presse (AFP), February 20, 2010.
 “Ron Paul on Watergate, Saddam Hussein and the Federal Reserve”, by Sudeep Reddy. Wall Street Journal blogs, February 24, 2010.
 “Job Openings in U.S. Decrease for Third Time in Four Months”, by Bob Willis. Bloomberg, January 11, 2011.
 “The End of the Dollar System”, by Robert Morley. The Trumpet (online), January 18, 2011.
 “True state of the economy: You better be darn scared”, by Devvy Kidd. January 17, 2011. http://www.devvy.com/new_site/true_economy_011711.html
 “Bernanke: Progress cutting unemployment could fade”, by Mark Felsenthal and Pedro da Costa. Reuters, circa February 29, 2012.
 “Reagan Adviser Stockman Warns of Crash From ‘Unsustainable’ Fed-Fueled Bubble”, moneynews.com, April 1, 2013.
 “Bernanke Fuels Speculation That This Is His Last Year at Fed”, moneynews.com, April 22, 2013.
 “Stocks dive as Russia abandons U.S. dollar”, by Jerome R. Corsi. World Net Daily, April 12, 2014.
 “Billionaire Tells Americans to Prepare For ‘Financial Ruin'”, moneynews.com (by Newsmax Wires), July 2, 2014.
 “Wall Street Banks Amass Treasurys Amid Slow Fed Rate Increases”, Newsmax (via Bloomberg News), August 7, 2015.