It’s an item I’ve mentioned before, but now coming into view on mainstream
financial websites … which is, how does gold go higher into record territory
with both real and nominal rates rising, and rate cut expectations being cut?
… history says that shouldn’t happen … “well, I got news for history … 1) the
ChiComs want it, along with other central banks cuz they don’t trust the Banana
Republic, … 2) the “economy is doing great” news is bullshit, propped up with
record government spending … 3) and speaking of spending, the Banana
Republic is borrowing $1 TRILLION DOLLARS EVERY 100 DAYS!, and it ain’t
gonna stop there … and 4) gold has no counterparty risk … it’s pure money,
accepted everywhere since the dawn of time … more on all of this at the link
below.
https://www.zerohedge.com/markets/golds-defiance-real-yields-cant-last-
And if you open your eyes, and wipe the delusion away from them, you’ll see
decay on so many levels, not the least of which is financial … you think if rates
go up a quarter of a point people are gonna panic and sell gold? … pull-eeze, get
a grip … and while a Trump victory over the corpse of Biden may stall the decay,
it’s by no means a certainty he can get it done with the entire “Deep State”
against him … I hope he does, but it’s by no means a certainty … and if the
election is stolen again, there is no hope whatsoever the Banana Republic
survives another 5 - 10 years as you know it now … it will simply become a one
party totalitarian nightmare where your wealth gets confiscated.
The most likely scenario, iMHO, is for the Banana Republic Apparatchiks to expand
at record speed all of the financial bubbles … everything needs to go up and go up
fast … they can then tax the shit out of it and continue the “house of card” for a
little while longer, while at the same time giving and dispensing the illusion of
“Everything Is F-ing Awesome” while the middle class disappears … the end
game comes when 2 events take place … 1) oil gets repriced from dollars to
Chinese Yuan by the Saudis and OPEC+ … 2) the ChiComs make the Yuan totally
convertible into gold bullion via state owned banks … the financial MSM will call
these “Black Swan” events, but they are anything but … so, what does gold know
now that other markets don’t? … it smells economic bullshit while the world wants
to smell roses, and it knows rates can’t go higher in any significant way cuz it will
kill whatever is left of business that isn’t already dead … and that means crypto
and gold look very well positioned well into the future … unless you think
POLS & Apparatchiks have a “Come To Jesus” moment and stop spending,
balance the budget, and actually care about the people they represent … I’ll
believe it when I see it, and not a second before that, cuz history says it’s never
happened with deadbeat governments, and what’s gonna change their minds?
Sooner or later we had to get a day like this, where trading action is very subdued
and there appears to be little interest ahead of tomorrow’s idiotic NFP
make-believe job numbers from the math whiz kids at the Dept. of Unicorns &
Fairy Tales … both price and time can correct and we’re seeing a little of that
today … unless something unusual happens [always a possibility with gold
and/or crypto] and more buy fuel suddenly appears on the scene, it appears 2300
is the level of most immediate resistance in terms of price alone … after such a
strong runup, it’s got to rest somewhere at some point, and I’ll remind people
again, it’s been over 40+ years [late 1970’s] since gold has been this bat shit crazy
[BSC], and that didn’t last cuz it was specifically spec driven by the Hunt brothers
in silver … we’re in a whole different world then from back in those days.
I’d feel a whole lot better buying spikes lower [if they hold and turn] than this
crap we’re seeing today … “no Skippy, a $1.50 drop in an m1 is not a correction, OK?” … need to see at a minimum levels of $3 - $5+, and then step up to the
plate … what we’re seeing today is nothing but “gaslighting” by scumbag bullion
dealers to trap traders … throw in a fat spread plus commissions, and they’ll be
doing the scalping … for sure, FOMO and MOMO are still here, but in the very
short term they’re running out of gas … the m15’s can barely show ranges of $2,
with an occasional burst, and heading into the mid afternoon of trading, it’s an
open question who’s stuck more, longs or shorts … quite frankly given the
spread + slippage, I’d say both are behind the 8-ball today … onto tomorrow
and the NFP, for whatever that’s worth.
… 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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