“Meanwhile, at the scumbag bullion dealer banks!”
When it comes to the “POLS & Apparatchiks” paradigm of trading, which we’ve
been in since February 2016 when the FED saved the oil industry, natch you get
what happened yesterday about 12:30 PM EST … as another FED Pie Hole pulls
out a big, sharp pin and pops the gold balloon … I’m referring to FED Pie Hole
Bullard, who got taken away from his nap in the faculty lounge, and trotted out
to announce, “nahhhhhhhhhh! … ain’t gonna be no 50 basis point cut in rates at
the July meeting”! … amazing these coincidences, as bullion banks are short up
to their eyeballs and gold simply will not break … and then … whoooooosh!
… that sudden gush of wind and noise you experienced, was the air going out of
the gold balloon … at least temporarily … and with another options expiration fast
approaching, the banks can breathe a very heavy sigh of relief.
This is how markets operate today … any of ‘em, all of ‘em … cuz all that really
matters is that the FED’s BFF’s make some coin, so it can be distributed to the
proper elites scattered across the globe into tax haven IBC’s [international
business companies] and/or PIF’s [private interest foundations] … understand,
that’s ALL THAT MATTERS … why do you think, that after their careers as
Apparatchiks, they get 7 digit consulting job gigs from these banks? … you
somehow think this is an accident? … hell no, it’s payback time for shit like what
happened yesterday … come the proper time in the future, after yesterday is long
forgotten, some assclown like Bullard will retire, and then immediately step into
the corner office at Squid, or JPM, or another criminal bank, and start pocketing
the “payback money” for doing absolutely ZERO … this is how this game works,
and why all of ‘em want to be Apparatchiks so badly.
And right on cue, an article on ZH about Merrill Lynch, now a subsidiary of Bank of
America, that got busted for fraudulently manipulating gold futures between … the
link directly below.
Bottom line in this? … nobody prosecuted, $25 million dollar fine, and we promise
to have better compliance. “See my shockingly shocked face that is shocked”!
… WTF right? … just another example in the long line of feckless U.S. regulators
who can now expect bags of cash in their garage’s sometime real soon. But, you
know, we’re just supposed to think everything is on the up & up, like cops in Al
Capone’s Chicago … thanks for all the help morons, and enjoy the cash.
Since that moment, gold has been steadily going lower, no doubt with bank help,
and did it not end exactly like I said it would days ago on the blog? … starts in
P.M. New York and carries over to Asia & Europe, and just like that gold is down
about $30 bucks and change … and it looks like a test of 1400 is imminent today,
here at sunrise in New York. Question is, how bad will longs puke, and are their
sell stops at 1400? … answer yes and yes, cuz they always put them there
… although, I’m not entirely certain today sees more selling … overnight, the
“Chuckleheads” put in a $21 dollar range, mostly to the downside, which usually
means no follow through in New York … however, as I’ve mentioned in the last
couple of days, since the manipulators have been actively & overtly manipulating,
we’ve never been through an easing cycle in gold … this is a first, so it’s tough to
know or expect what the rules are … could be the same as before, but I doubt it.
We’ll have to see how this plays out today and in the days/weeks ahead.
But, make no mistake, yesterday was the first salvo in the new gold war, as
basically the FED intervened with words and said, “enough is enough”, and no
doubt via back channels let their BFF’s, the scumbag bullion dealer banks, know
that whatever it takes we got your back … so, sell some MOAR! [Psst! … when can
I expect my bag of cash?]
And we can’t even get to New York trading, and here comes “ACT II”, with half of
the comedy team of “Mnuchin & Kudlow”, with some bullshit about the China
trade deal scam … “folks, there ain’t ever gonna be a TRUE China trade deal, cuz
you’re dealing with scumbag ChiComs, who cheat, lie, steal, & don’t know any
other way … if there is a trade deal, it’ll be a scam where Trump caves and there is
no verification … in other words, we just trust ‘em … yea, good luck with that, no
matter what the chattering heads in D.C. say” … and with that, gold tanks down to
1401 … how desperate are these asshats to protect the banks, and at the same
time boost the SP500? … this is pathetically embarrassing.
Once again, we see the power of New York in offsetting anything Asia & early
Europe wants to do … break price? … fine, we’ll go up! … rally price? … fine, we’ll
be steady and not extend gains much or go down! … and as I asked the question
earlier, what happens when you come in and there’s a $20+ range to the
downside? … and sure enough, what kind of action happens now?
Not really a very good day for trading action, given the recent action over the last
couple of weeks … price crawling, then Bingo Bango BOOM!, a brick to the face
and down we go … then price crawls again, and you’re left wondering what more
comedy can hit this market today … yesterday it was Bullard, today Mnuchin, and
in the early hours what comes next, cuz it looks to me like the “fix is in” with
regards to the recent top around 1440. And for the first time in weeks, action
definitely slows down as gold will limp to its option expiration … nice day to trade
the PAMM with the new gold algo, huh?
Well, one algorithm buy signal today … PAMM up a few bucks.
After 1 PM EST, I did get one more buy signal, but I don’t like trading in New York
P.M., simply cuz the scumbag bullion banks are notorious for chop when nothing
is really going on … and given gold’s recent romp, where’s it gonna go on the
upside today? Not saying I ignored the signal … just sayin’ the algo doesn’t
recognize or know about New York afternoons with the likes of Squid, JPM, and the
other crooks running loose and looking for victims. In any event, we’re past the
first day, and while the market didn’t really cooperate with decent trading
conditions, we’re still up a few bucks … would have liked to see more buy signals,
but it is what it is and the market hasn’t really done anything of significance since
the sun came up in New York.
So, here we are probably treading water for a couple of days into the weekend
… not sure if 1400 can get taken out tomorrow, depends on what happens in Asia
overnight and when do they puke longs for real? … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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