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Friday, January 11, 2019

ALL THAT MATTERS ANYMORE IN GOLD IS?

“What gold itself must feel like!”

There’s only one thing that matters to what’s left of the gold market … “it’s 
the Chicoms, ChiComs, and THE CHICOMS! … and the price of gold in Yuan, 
or offshore Reminbi [USDCNH]”. Say whatever you want about any economic 
fundamental or other such bullshit, the simple fact is, the ChiComs run the 
gold market, control the gold market, and tell the gold market what to do 
… and their BFF’’s, the scumbag LP bullion banks do their bidding every 
frickin’ day … forget the FED or the BIS, they are so “yesterday” … “has 
anybody seen the “fat finger” of the FED or BIS lately, in their manipulative 
attempt to push prices lower? … no, me neither. Instead, as I’ve said before, it’s 
ChiCom selling in New York, with cheap and worthless US trade dollars, and it’s 
buying futures for delivery on the Pacific Rim at night … that accomplishes two 
objectives; 1) keep price relatively stable while accumulating physical metal, 
and 2) actually getting the physical in the Pacific Rim … and once its in China, 
the gold isn’t ever coming out again”!

A shrinking, gold trading customer base, actually helps the ChiComs cuz it 
makes it easier to manipulate the market … and of course, the scumbag LP 
bullion dealers are only too happy to stand in the middle of this and make 
some coin, and the ChiComs are even happier they’ve found complicit partners 
to accomplish their long term goals … which is, to own and control the entire 
world’s gold supply and someday make Yuan/Gold a backed currency, and in 
the process turn the welfare state West into shit, without ever firing a shot.

It’s been a while, so to prove my point, directly below two [2] charts that will 
open some eyes. The first is weekly Gold [XAUUSD], and the second is weekly 
USDCNH. The white arrows in gold match exactly the corresponding weeks 
in the USDCNH weekly chart. This correlation has been going on for years, 
and it clearly shows, that on a weekly basis, USDCNH and the ChiComs, rule 
the roost!

click on chart to enlarge  


Granted, day to day, it’s tough to know which market drags which market 
higher/lower … some days gold leads, and other days CNH [Reminbi] leads. It 
should be no secret why volumes have collapsed, why liquidity has dried up, 
and why traders have abandoned gold [like silver before it], and trade other 
markets … “it’s simple: you’re butting heads with the ChiComs and their 
unlimited amounts of trade dollars … they have more money than all customers 
combined times 10 … it goes where they want it to go … they want it to go up, 
gold goes up … they want it to go down, gold goes down … they don’t give a shit 
about your charts”! And so, with very few traders involved in it, you end up 
with “Flying Wedge of Death” [FWD] days, historically low ranges, and 
dealers that clean your clock.

It’s been a rather pathetic week … for all 5 days of this week, we can’t even 
get out of last Friday’s range! … chop much? … bullshit up, bullshit down and 
it’s mission accomplished for the ChiComs. “I don’t see any other rational 
explanation for gold to be this dead, given the political & economic uncertainty in 
the world that is only getting worse, not better, and has been doing so for some 
time … and yet, it can’t move … why? … well, cuz somebody is controlling price 
to get the physical under their control, WITHOUT causing a buying panic before 
they accumulate what they want … and they get the money for this transfer of 
wealth from the U.S., which shovels about $1 ½ billion dollars a frickin’ day to 
them via trade … who the hell wants useless U.S. Treasury securities … we’ll 
take the paper and use it to manipulate gold for our benefit … some day, idiots in 
the civilized West will wake up and smell the fucking coffee … that day, mi 
amigos, hasn’t happened yet”!

So, while I would love to trade it, and will do so with any range that sees the 
lows extended past about $9 or $10, it makes little sense, IMHO, to trade  
“chop” … especially with a now higher spread via Turnkey, where the 
scumbag LP bullion dealers have basically doubled the spread in the last 2 
months, for no obvious reason except pure fucking greed … “oh wait, I forgot 
… duh, market conditions, duh … which is the SOP [standard operating 
procedure] response from bucket shops like Turnkey anytime you question their 
integrity … it’s always market conditions, but somehow fail to notice lower ranges 
and dull, listless trading … right, I’m just supposed to NOT notice an almost 
100% increase in the cost of trading a shit market for no reason … well, there is 
a reason, and it’s the fact less people are trading it, so we get to pay a “traders 
tax” to make up for the shortfall in dealer revenue … what a fucking joke”!
 
Today, just another in a string of chop days that sees little direction in price 
… round up all the usual suspects for turning a trade into a nightmare, and 
there isn’t anything different from today versus the rest of the days this week 
… dealer “scumbaggery”, “slippage candy” handed out every minute, bullshit 
spreads that balloon for no reason, and of course the ever present stop hunts 
from those honest & lovable “liquidity providers” … wrap it all up in a few 
dollars of range, and you to can buy tops and sell lows on breakouts and false 
flags while nothing is really happening. It's the world gold finds itself.

Onto next week … I’m outta here … until Sunday night’s update blog post 
… Onward & Upward!!

Have a great weekend everybody!

-vegas

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