 Today was a pretty ugly day... From Le Metropole: "The Battle Royale rages. This morning with copper, oil and the euro higher, (and little in the news of significance) gold and silver were tanked by The Gold Cartel. As happens so often, they began to do their dirty at 3am NY time when they reported for work in London. Now THAT is getting old." From CNBC: "It seems the battle between inflation vs deflation could be claiming a new casualty... So what's the causualty? It could be you if you're long gold. The Fast Money traders are concerned that the gold trade is extremely crowded and about to implode. It’s a critical time in the price of gold and I think we’re at the precipice of something big, says Guy Adami. Personally, I think the move is lower, much lower. It scares me on the down side. A lot of people have piled into the trade; it’s very crowded, echoes Joe Terranova." Also from CNBC: "Inflation? Fugheddaboudit. With signs the recession is almost over and no end in sight to the government’s borrowing binge, inflation hawks are circling the market. Well, they better keep looking, say skeptics of the inflation spike scenario. 'I think it’s blown entirely out of proportion,' says economist David Jones of DMJ Advisors. 'Inflation is going to stay lower than expected for awhile,' adds Ram Bhagavatula, managing director at the hedge fund, Combinatorics Capital. Unlike in past recovery periods, inflation is unlikely to rear its ugly head anytime soon; in fact, it may be years before it becomes a legitimate threat to the economy..." *** Seems to me that the fundamentals are saying one thing but the talking heads are saying another, all while the cartel flaunts it's ability to manipulate the markets. Are they right or blowing hot air? It seems that we are now in a game of chicken and these bastards are hoping we flinch, however, they are driving a Yugo and I've got a Sherman Tank (gold). Being right and sitting tight isn't always easy to do but, really, what are the alternatives at this point? |
|||
 |
Hidden PlacesLife outside of the mainstream |
|
|
|
|
http://market-ticker.org/archives/1115-30y-Bond-Results-Beware.html
This also goes to support the idea that nobody has the balls to face off against people that want the dollar to remain as the world reserve currency. I think what is going on is in fact the first shots of WWIII and they are occurring in the economic realm. I think this right here is the powers of the West(NATO/NWO) vs. the powers of the East(SCO). News that some of us have seen insinuate that the East (Russia included) is colluding to try to replace the dollar with a new currency while the West (mainly the Anglo-American empire) are trying to continue their multi-century long Great Game.
So my short term (1 month) prediction is gold heading down into the 800's for the moment, dollar and oil up, stock market up to whatever the support area in the mid 9's (all the new money has to flow somewhere). The question is what happens when the SCO hits back combined with still worsening numbers coming from everywhere including housing, median income, net worth, unemployment, and H.R. 1207.
The answer, in my opinion, is terrorist attack coinciding with a time frame surrounding NLE '09
But then again....like e_ I'm crazy
Nobody is as crazy as E.
/crosses fingers and hopes that is a true statement
I was just talking to my dad about this very issue. I just don't understand the logic behind those who believe that gold will collapse. It has always had value, and in an age when everything else appears to have no value, it is going to collapse? It doesn't make sense to me at all.
CNBC hacks
have never been right about anything. One of the more terrifying things I learned from watching a Frontline documentary on the financial meltdown was that ALL of the major stock boiler rooms and clearing houses watched CNBC constantly. Goes to show the effect of garbage in, garbage out.
Personally, I'm in a sit and hold pattern although I may purchase some scrap 18 kt gold this week from a jeweler friend of mine. She lost her job and needs the cash for her metal.
ciao.
As an aside...
You have the first CNBC article saying, "As you probably know, Fed Chairman Ben Bernanke has focused on deflation – most notably dropping the Fed funds rate to nearly nothing. In fact, it was only last month when Bernanke told an Atlanta Fed conference, 'we are currently being very aggressive because we are trying to avoid deflation.'
However, it seems all his efforts to prevent deflation may be sparking a different problem; inflation – big inflation."
and the second...
""Inflation? Fugheddaboudit."
How is the average person supposed to know what to do?
They can't, so they stay the course and continue to be sucked dry. All those years of hard work and "investing" for what?