Fresh off of a 4 day “medical vacation”, where walls were moving, monkeys
flying around, the dog talking shit every chance he got, me completely delirious
and not caring … and then the fever breaks … suddenly reality crashes in around
me … the walls seem stable [but I’m suspicious], the dog friendly, the flying
monkeys gone [for now], and then a little later over the weekend on Saturday
night, I knew I was back to reality when I read the following link on ZH:
https://www.zerohedge.com/news/2021-07-10/update-bullion-banks-get-basel-
Bottom line: banks in the U.K. can apply for an “exemption” to the rules, which I
understand to mean they can still “clear” precious metals trades … makes sense
if that’s what it clearly means … however, when dealing with “shit weasels” you
ALWAYS got to be careful cuz they are always “shit weaseling” in everything they
do … clearing means what it says, doing a trade on behalf of a customer client,
but here’s a BIG PROBLEM I got with this simplistic approach … what’s to
prevent scumbag bullion bank “A” from taking corporate funds and establishing
a totally separate, legally domiciled, new company in a super secret tax haven
and funding it with say $1 billion dollars … it simply becomes an equity holding
on their balance sheet, lumped in with all the other shit they own and are
leveraging … the officers & directors of the new offshore trading company are
simply “old” employees of bank “A”, and the only shareholder is bank “A”
… this new “financial trading company” opens a trading account at “bank A”
… so tell me, when this “new” company goes in and trades their account, is it
JUST CLEARING NOW? … cuz you know “Hoover Dam” well, they’re gonna get
the “cherry picked” fills others should have gotten … and besides, who now
pays the “SKIM” for the POLS, Apparatchiks, & regulators to “look the other
way and SEE NUTTIN’ HONEY? … well, isn’t that convenient? … a double edged
purpose for being, and “off the books to boot” … all that loot can be wielded any
way they want cuz they’re a private company beholden to literally nobody … no
wonder they said and did nothing the weeks before Basel 3 went into effect
… but no matter, the FED did them all a favor by cratering gold approximately
$130 Dollars per OZ. in 5 days starting the last full week of June, thus not taking
any chances that JPM, Squid, and the rest of the virus slime in the U.S. should
not get hurt by the new rules … so, is there really a “new” gold market? … Yes,
but by how much? … that I can’t answer.
Looking over the trading action while I was in another universe, it’s clear nothing
has changed and that manipulation of VIX is all that matters to the manipulators
… if Cable could keep the ranges it had on Thursday & Friday, I’d be there until
I’d pass out from lack of sleep, cuz it would be so good … problem is, like always,
one day it has a 135 PIP range, the next day it’s 51 PIPS … what separates one
from the other on the charts?
Remembering back to pre “monkeys on the wall” when I got clipped good & hard
via slippage in gold, Turnkey finally responded to my lousy execution and latency
time … of course, it’s my fault … my computer is “slow”, or the internet isn’t what
it should be … in other words, all of the things nobody can either prove or
disprove with any assurance … typical Turnkey, but I didn’t expect anything
different from them. One thing I’m going to try is routing my VPN through London,
cuz I think using other destinations might have the potential at some times to slow
things down … don’t know, just guessing, cuz the banks & HFT’s Turnkey uses
are all out of London, where their main execution servers are located.
Quite frankly folks, we don’t have much of a choice in the markets I can trade
… take away slippage, and the clear winner is gold … other markets present
slippage problems but not as severe, but also have significant other problems
like phantom spreads and/or disappearing VIX that gold doesn’t have as badly
[yet?] … I’m just gonna have to work around the slippage issue in gold as best as
I can, cuz the other markets prove to me almost daily they got major issues as
well … so, pick your poison … in that case, I’ll choose gold.
Not betting anything moves either in Asia tonight, or Europe cuz of the soccer
final England is involved in for the first time in 65 years against Italy … either
way, it’s “party hardy” on the continent or the “white cliffs of Dover”, and likely
to muck up financial flows the entire European day one way or the other
… we’ll see.
Yes, it’s good to be 100% over whatever the hell it was I had … I was getting tired
of chasing monkeys … onto the week at hand … outta here … “the future’s so
“GOLD”-en bright I need sunglasses”! 😎 … Onward & Upward!!
-vegas
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