I think it’s becoming clearer every day that passes … the Banana Republic “IS”
Venezuela, only it still has the ability to borrow money without ever paying it back
… for now … the RINO POS in the Clown College has his day of reckoning today
… yields exploding … the BOJ says enough is enough and may be the catalyst for
much higher rates than anybody thinks … “Stonks” are puking all over the place
… Apparatchiks saying “everything is F-ing Awesome!” while the country burns
down … and, we’re officially in an election year where the current illegitimate
Preezy is trying to put his main opponent in jail, all the while he’s the biggest
crook in U.S. history, that IMHO is treasonous … WOW!, just like Venezuela!
I dunno what I was expecting today, but it sure as Hell wasn’t this … JOLTS data
with a 5 sigma miss, and shit goes ballistic in a microsecond … gold trading like
there’s no tomorrow, and it’s a return to fast moves up & even faster moves
down … yields blowing out to the upside, and where a few days ago you couldn’t
get gold to move 40 cents in 5 minutes, today sees a $2 m1 grid on my charts
… go figure! … even bigger moves in silver, which hits the 20 handle earlier
today … where could yields go? … directly below, the link to ZH where my old
buddy from floor trading days, Rick Santelli, lays out a bond vigilante scenario
… and if he’s even half right, it will bring a revolution & civil war to the
Banana Republic!
https://www.zerohedge.com/markets/30-year-yields-hit-highest-2007-one-day-
after-cnbcs-santelli-suggests-10-year-could-go-13
Quite frankly, this isn’t the way I wanted to start trading gold for the PAMM, now
that Coinexx has a new LP, and a much reduced bid/offer spread … round turn
[RT] commission is still the same at 2 cents per OZ, and that’s never been a big
deal … the $64,000 question wasn’t one of “if / when / gold can get more VIX, it’s
will the HFT butcher the shit out of things like the old LBMA bank, and make it
“Hoover Dam” near impossible to make money?” … and while I’m easing my
way back into silver as a tradeable market cuz of their reduced 0.5 cent spread,
where are the “bigly & yuge” central bank bids at? … with what’s on the table for
government borrowing needs across the globe, I think busting 1800 on the
downside looks increasingly difficult … unless rates go supernova, and then
we’re into “The Twilight Zone” where anything can happen.
Only one trade today for the PAMM in gold … PAMM UP SLIGHTLY … and I’m
happy to report no problems with fills as everything was right on the money
… and that’s what today really was all about heading into the last half of the
week where action should pick up considerably … over @ IQCENT, a super
tanker of EURUSD trades, and “The Syndicate” is UP ~0.3% on very light
volumes … I’ll pick my volumes up when rates dip … and finally, it appears
we’ve found our market for the PAMM in gold … it took a while, and the HFT
can still fuck things up, but I don’t think they will … they had their chance today
and didn’t do it! … spread was up a few pennies, but nothing serious … on the
whole, I give them a solid “A” for being an LP … and that right there tells you
they ain’t a bank but an HFT! … 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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