It doesn’t really matter what it’s about, if government at any level is involved, the
problem is started by them and then made worse with idiotic solutions, that in the
final analysis only expands their power and control over events & people
… Biden’s, and by default government, response to the Lahaina fire tragedy is
one of the most pathetic attempts at damage control I’ve ever seen
… [Dear Hawaii: you voted for the lying, criminal prick, so deal with the
consequences of his total incompetence … loss of life is sad & regrettable,
but you wanted him, so you got him!] … carry it over to the FED Lounge Lizards,
who let’s face facts here, have not a fucking clue what they are doing, throwing
darts against the wall for answers, hoping they can buy time until fate saves
them and the country from a devastating deflation followed by hyperinflation
… it can’t and won’t … and while they CNTRL-P print TRILLIONS, they sit and
wonder why inflation is “sticky high”, and why nominal [not real] bond yields
refuse to fall … how much FUBAR can a society take before it all collapses?
… not a rhetorical question! … why do Banana Republics become Banana
Republics? … POLS cheat their currency, cheat their people they represent, and
ultimately any trust in any institution falls to ZERO, and the Totalitarians step in
to “save the children” … Hell, at this point I wonder if elections will be held in
2024? … who lends money then to a bankrupt Banana Republic?
Which brings me to gold … I understand what’s happening to price, but I don’t
agree with it … IMHO, it’s a very short sided approach to a much bigger problem
lying dead ahead for the Banana Republic … and that’s hyperinflation, which
most assuredly is coming … but, and this is important to understand, never
underestimate the ability of government to change the rules, and/or completely
distort a market for their own propaganda efforts, and rule over a market for a
period of time … but what can’t be sustained, won’t be … the FED’S hubris cuz
of the CNTRL-P machine is great, but the FED is alone in the world in shorting
gold, as others, most notably the ChiComs, gobble up every OZ. they can get
their sticky fingers on … at what point does the FED throw the proverbial towel
into the ring and give up? … they already have losses in the hundreds of billions
of dollars, which is kept hidden from public view, but at some point the
“Hoover Dam” breaks, and gold skyrockets … nobody is bigger than the market,
something I don’t think the Lounge Lizards understand, but regardless their
hubris they can’t stand alone against the tide and the entire world wanting and
buying gold … at some point even the most blindly arrogant learn the hard
lesson of history, which is, in the end GOLD ALWAYS WINS! … to be sure, lately
the 20 Day Range MA in gold has been going lower and is at about a low point
as can be had IMHO, given world economic events and circumstances, reflecting
sagging spec volumes and trading interest as rates go higher, and the bullish
bounces seem very tiny compared to the moves lower … but at these levels
around or below 1900, the bounces should become more pronounced with
bigger rallies … and I am acutely aware of the nature of gold, to bankrupt the
masses by being too early to the “buy train” … and that means gold gets added
to the PAMM trading list as a potential candidate when conditions are favorable
for long positions … more on gold in tomorrow’s blog post.
GBPJPY not doing anybody any favors today with a very sloppy and tight range
[so far], where it’s been a slow walk down the lower RM=2 on the m15 for over 7+
hours … FX in general beholden to U.S. rate changes for any movement during
Mid European to the end of the New York session, and whatever “Scumbaggery
& Fuckery” during the Asian session by the ChiComs, and how they’re dealing
with an economic collapse in their real estate market … and that’s it! … EURUSD
& Cable moving lower with higher 10 YR. rates, with EURUSD getting hit the
hardest … “Stock Bellies” chopping, and praying that come Friday, Spicoli
doesn’t go full retard “higher for longer” in his J-Hole remarks, so they aren’t
doing Mr. Jack “Diddly” Squat, except walking lower after the usual NYSE open
“Chipmunk feeding” didn’t materialize, disappointing 0DTE traders everywhere.
And YUP, it’s August, can ya tell?!
“Gap pricing” evident in spades today, where scumbag banks keep markets
unusually quiet for minutes on end, and then suddenly Bingo! Bango! Boom!, off
a market will run a few PIPS in microseconds, thus catching order flow right at
crunch time and trapping traders the wrong way … it’s who they are, it’s what
they do! … how the Hell do you think they make their money? … from
commissions? … puleeze, gimme a break!
Now after the London Fix, FX has literally died … nothing here … no trades today
in anything … just nothing to do from the long side, as FX went lower while the
YEN rallied the entire session I’m here … small movements in both the 2 & 10 YR
the catalyst to almost every tick seen … cuz as you should know by now, we’re
all interest rate traders whether you like it or not … onto tomorrow.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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