“Do I get some of this, or does it ALWAYS have to go to the scumbag banks!?”
What did we learn this past trading week? … 1) the FED officially hasn’t a
fucking clue in the world what they’re doing. Within 3 months they’ve gone
full gung ho “let’s raise rates some more cuz “Everything Is F-ing Awesome,
Baby!”, to … whoops … no rate hikes, maybe some cuts, we dunno
… 2) economically, the rest of the world is falling off a cliff, 3) up until Friday,
the official U.S. Ponzi scheme known as stock index futures could have cared
less, 4) just when you think Britain can’t go any farther down the
“full retard” path, they outdo themselves and make “Brexit” an even bigger
“shitshow circus” than anybody ever imagined possible, and 5) gold is
watching “Brady Bunch” reruns and can’t be disturbed.
What’s gonna be interesting to see going forward, is if governments [read
central banks] can stem the tide into precious metals … do they double &
triple down with their BFF’s the scumbag TBTF & TBTJ bullion dealer
banks and suppress price whatever it takes, or do they throw the towel in,
and gold & silver go Palladium very quickly? … make no mistake, the
“helicopter money” is coming, the CNTRL-P machine is being ramped up as
I write, and many more trillions of Dollars, Euros, Pounds, Yen, & Yuan are
gonna go towards making sure gold & silver don’t go appreciably higher.
The problem for them, though, are twofold … 1) hubris that you’re bigger
than a world market leads to disaster, no matter who the hell you think you
are, and 2) the monthly charts paint a picture anybody over 5 years old can
see is bullish as hell if gold can get above 1350 - 1370, and the buying power
unleashed if price can get over that threshold will be enormous … especially
if other asset classes are going “Thelma & Louise” … it ain’t gonna take much
to go full retard Palladium! Directly below the monthly gold [XAUUSD] chart
with commentary.
click on any chart to enlarge
My best guesstimate, is when the Ruskies, ChiComs, & Indians figure out the
FED & BIS have lost control of pricing, 2 things will happen with frightening
speed … 1) their buying goes parabolic, and 2) the scumbag banks will ditch
the selling and turn to manipulation from the buy side … “oh, won’t it be a
sight to behold”.
Directly below, this weeks gold, silver, & SP500 20 Day Range MA’s.
A tale of 2 markets all week … either stone cold dead, or bat shit crazy, and
literally nothing in between. Gold either putting in New York ranges well
below average, or well above the average … in any event, most of the time
this last week saw gold go “sleepy time”, with only the FED providing any
movement to speak of via their policy errors.
Friday saw me have a conference call with Turnkey management … as pretty
much everybody knows, including them, I’m not a happy camper with their
customer service or their scumbag LP’s. Of the two, they only have control
over the former, and they vowed to make the effort to be better and
acknowledging some lapses … “Ok, I’ll take on face value your efforts going
forward … we’ll see, won’t we”? … I vehemently disagree with their assertion,
though, that the LP’s are honest & above board in their dealings … “sorry,
can’t go there so we’re gonna have to agree to disagree on that one”!
I do realize, though, that their relationship with the LP banks puts them in the
same position we all are in with them … make no mistake, they get treated like
dogshit by the banks every day, who stonewall them, lie to them, and treat
them like pond scum … nobody on the brokerage house side of things controls
bid/offer spreads, mystery ticks, mystery spikes, “slippage candy”, and/or fills
… they got Mr. Jack Squat to do with it … they can ask the bank to look into
a customer complaint, but the bank usually takes their sweet ass time and
literally makes no guarantee either anything is going to be done [which
NEVER happens EVER], or they’re going to get back to them in a timely
manner if at all [MOSTLY NOT AT ALL]. So, I understand their
frustrations.
So, without telling them so, I’m like Dean Wormer putting them on “double
secret probation” … we’ll see how things go in the weeks ahead and if there
are any problems with speed of fills or too high slippage … my main
B. I. Itch complaint has been speed of fills, which up ‘till last Thursday had
been way too slow, giving the scumbag LP enough time to screw me on a fill
… last couple of days it has been like it should be, which is under 400
milliseconds from order entry to fill back to me … so it appears the problem
is fixed … we’ll see if it stays that way.
Onto the week … until tomorrow mi amigos … Onward & Upward!!
-vegas
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