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And There Goes The Dollar As Weimar Rally Resumes
The dollar managed to stage another faux-rally to the just above abysmal level of 73.30... for about 3 hours. At last check, the dollar is plunging and everything else is once again surging, meaning all those hoping for some miraculous spike in the USD on expectations that there will be a time when the USD will once again be a flight to safety will have to put their dreams on hold yet again. Remember: state healthcare benefits are 5% funded, so the Weimar rally (in stocks, if not so much the dollar), has to go on or else pensioners will realize there is 5 cents on every benefits dollar owed to them.
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Come on 72.
I wonder how many of us will be cheering on the front lawn of the White House or NYC when Bernanke kills the dollar? Can I take part in the sea burial?
have the bernanke walk the plank
It is a sad day when we have college kids partying in front of the white house trying to get laid, but in MaComb Illinois (20,000 people), they used Illionis Police correpsonding with National Security to break up this "distrubance." What a sham... videos below found within article. What a sad world we live in, buy gold and silver to help the problem (physical).
http://thehardrightedge.com/partyover/
Ron Paul 2012 (or earlier if we have dollar collapse)
These two videos personify the sheep and the police state. My disdain for both grows daily.
Ron Paul really?
After the last election, he is now in the position to do all the things he has been
flapping his lips about and what has he done?
Nothing. Just another clown like the rest.
What exactly would you have a single Representative do? Hold the rest of Congress at gunpoint and make them audit the Fed?
If that had been Misery Index elected, he/she would have completely convinced the Congress to vote all the right laws into place within 60 day of being sworn into office.
Ron Paul, a distraction for the rubes like us.
Ron Paul a distraction eh? A distraction indeed from crony capitalism. Distraction from fiat currencies. Distraction from a perpetual war state. Distraction from the police state.
Ron Paul 2012 - A Distraction our Country Needs.
He's one member of Congress. End the Fed. How does that get through the Senate or around Obama's veto?
Well he introduced and had passed the Federal Reserve Transparency Act to audit the Bernanke.
He attempted to bring in the Free Competition in Currency Act of 2007, the Federal Reserve Board Abolition Act to End the Fed but the cowardly capitol did not cosponsor and support these measures.
He attempted to bring in the Affordable Gas Price Act to allow offshore drilling, he brought in the National ID (amendment) to prohinit federal funding for national ID numbers, the Second Amendment Protection Act of 2007, the Citizens Protection Act of 2007 to repeal gun free schools.
He brought in the Market Process Restoration Act of 1999 to repeal Federal antitrust law. He barred International Criminal Court jurisdiction of the US mil. He brought in the American Freedom Agenda Act of 2007 which reaserted due process, prohibited torture, repealed FISA, the Military Commisions Act and more.
He brought in the Market Process Restoration Act of 1999 to repeal Federal antitrust law. He barred International Criminal Court jurisdiction of the US mil. He brought in the American Freedom Agenda Act of 2007 which reaserted due process, prohibited torture, repealed FISA, the Military Commisions Act and more. He has brought in half a dozen measures to protect against Obamacare and in DOZENS of mesures has stood to protect states rights.
He is the only one with any sort of principles or care the the constitution in Washington. If he held a greater position of power he influence and ability to protect the constitution would only rise.
Fat, drunk and stupid is no way to go through life. Where is Dean Wormer when you need him?
it's actually a great way to go through life.
I think it was Dean Martin that said, "I feel bad for people that don't drink. When I get up in the morning I know that's the worst I'll feel all day."
It was Frank Sinatra
Paper boat of 1 Billion Fiatscos and viking-style floating pyre.
If 72 comes up do I win or lose? Maybe I'll just close my eyes and let you tell me when to leave the table. OK?
Just leave me some gas money and a little left over to stop by McSlop on the way home.
72 is winner winner chicken dinner for us "doomers". Those with Bennie two ply? Nominally, they will look like winners right?
This is a win-win come to think of it. The multi-dimensional aspect of life playing out before us.
In that case I'll take the double quarter pounder with cheese please. And fill er up with high test while you're at it.
I'm feeling lucky. Dr. Head told me everything's gonna be fine. :>)
I heard he's in the process of burying it in the ocean...
And not a single corresponding move in silver. That's new.
oh you didn't hear? DXY was j/k.
Just look at the volume that it's pushing today, just crazy.
I think they have a hard and costly day keeping it down.
HF algos have been deployed in the silver markets. The paper price will likely no longer reflect the real price. Any retailer that doesn't keep a strong premium over spot is going to be out of inventory very quickly.
I think they have a hard and costly day keeping it down.
It's been a costly and futile battle for the "status quo" elites. It's why I expect them to ultimately change the Federal laws in regards to ownership of precious metals soon, for the "good" of the country of course.
There is no winnning because the sheeple will buy this propanganda like they always do. And us "bugs" will be treated as such.
This is great news for PMs as the anti-PM media propaganda won't be back on them until they hit new highs again.
It's like they're shoveling sand under the foundation every time it's low tide.
Gotta get back to shining up my silver maple leafs. :)
You should let them take a sunbath first...
D X Y, bitchez†
Yup. A mini-tipping point has been crossed (been sayin' it, last 3 days confirmin' it). Gold will soon re-Zooom it's uptrend and take out the highs
Hoping the dip in Silver will last till Friday. Damn wire transfers.
I sold some @ $48 last week but the damn premiums still make it a wash if I buy now.... let's see if we fall to $39 and then we can shoot it to the moon
sorry long dollar....short slv and gld....every dog will have its day.....washing out the dollar
Good luck! You'll need it in Bernanke heaping printed dollar amounts!
Every dog has its fleas.
A cheap dollar collar only shelters them.
That's like betting on the Cubbies because you figure they have to win eventually.
Good luck with that.
Well being long gold right now, is like be long the METS>>lol
Not really, the Mets have had a terrible decade.
true.. gold is the star....just not for the next week....
Hey, anybody can have a bad century!
copper up?
Every time it tries to stage a rally it falls back, flat on its face
The noise you hear is the engine on the right side of the Bernanke's helicopter starting to sputter
I think the printer is on the fritz.
Someone should shake the toner cartridge.
Better throw off some more ballast then. Sand (money) bags over the side should generate some temporary lift.
Is a repeat of 2008 coming? (Although this time with a simultaneous dollar crash)
Another 8 million jobs about to go POOF
Banksters to harvest more flesh off the American worker's back
i think this is possible, however i also think that PM prices will be the winner this time... either prices goes up in such a situation, or prices goes down but no phyzzical available
But of curse, in 2008, the Gmen had the funds to backstop the Money Markets from going Super Nova. This time all they have is fairy dust (aka Dandruff from Ben Beardnaggie's facial hair).
They've already modeled it against Spain with 21% unemployment and barely a peep out of the sheeple. If that happened SNAP would just hand out Happy Meal vouchers paid for with Bennie Bux.
whats sad is it is in a basket of other shit currencies, its the lowest of all the shit:(
haha...i keep thinking the same thing.
Is there another basket besides the DXY that's more broad instead of 50% weighted to the Euro?
Yes, USD vs PMs.
On that chart, you can ski the USD downhill for miles.
lolololol on the one hand it sucks that we are(US) sick, but we have to take the medicine
Paint the USD town red, Bernanke and Geithner!
Ah, the mightiness of the Mexican peso tells all.
Viva L'Euro ^^
I see the New World Currency on the horizon.
Any suggestions for its name?
Eurodollar? SDR? Ounce (of silver or gold)?
To we Southerners it will be the Holler Dollar.
In more ways than one......
Ha. I see on eBay that $190 worth of CONFEDERATE CURRENCY bills are auctioning for $250. Uncle Ben is obviously printing the wrong bills.
Yeah.. The Waller
It will be a symbol, not a name - like the currency formerly known as Prince...err...the Dollar
The Esperanto
Obamas, the symbol will be a big O
I have an instinct that Bernanke's first press conference will be seen as the tipping point between "dying dollar" and "dead dollar". In other words, that was the actual "day the dollar died." Time will tell.
They will try to pass off a Ventriloquist's Dummy for Bernank at his 'next' press conference.
http://www.youtube.com/watch?v=tr-BYVeCv6U
Mark your chartz Beatchs to 68....This number will be the kiss of death and the mass exodus from the dollar will commence. Ding dong the witch is dead will be forgotton in no time and our real fight will begin...
Hey Guys,
Dont fret, the US Dollar is probably going to make one of those giant upside moves because everyone is on one side of the trade. you can read about it here
http://etfusdollar.com/
TOKYO, May 3, Kyodo
Radiation readings have risen to 100-1,000 times the normal level on the Pacific seabed near the crippled Fukushima Daiichi nuclear power plant, the operator said Tuesday.
The high levels of radioactive materials were detected from samples taken Friday from the seabed at points 20-30 meters deep, according to Tokyo Electric Power Co.
O.T but I thought it would go with the other bad news posted here.
Latest from Fairewinds Associates:
Scientist: Radiation in food going to be a nationwide problem in US — Not just limited to one region (VIDEO)
May 3rd, 2011 at 12:25 AM
"Fairewinds’ founder Maggie Gundersen interviews environmental scientist and professional engineer Marco Kaltofen about his ongoing analysis of radioactive fallout from Fukushima."
http://www.fairewinds.com/updates
Also, http://enenews.com/ is excellent for keeping up with the latest news from Fukushima. It's not over by a long shot.
Do you know what's funny about this?
Today the GBP was looking shit - thanks to some poor PMI data mainly.
Now the dollar has collapsed again and it's all looking rosy!
This is a proper race to the bottom - Japan must be peeved as the JPY is rising - not even mention of 1 quadrillion JPY being printed is enough to 'take the lead'.
All going down the pan folks - this is how it's gonna be - should have listened to Gerald Celente.
Here's another funny one: spot gold is now 1546, up fifty cents. Silver is flat at 43.93. But CEF, which holds only gold and silver as assets, is up more than 3%.
Follow the money, not the paper.
CEF probably recovering from premium loss yesterday
Oh, I listened to him, but had a hard time believing him,
now, not so much.
Going to set my grandkids upon my knee one day and tell them wonderful stories of the "strong dollar policy" of 2011. Illustrations will help.
You have grandkids? youre one of the lucky ones then.
If you dont and youre just planning on having them , i wouldnt. Spawning offspring with the future we have instore is akin to child abuse. Dont be selfish. (another way of looking at it is , go ahead be selfish , spend the money you would have bringing up more fossil fuel chompers on a nice cruise or that red sports car youve always wanted)
We have said it a dozen times here, patience, no margin, and the next move higher is just days away. The pundits bearish on silver are now 25 to 1. Noone, noone is bullish on the Kodak special. Just biding my time.
No shorts though. I cannot fight a mad man with a beard. But kudos to the dark side of miners the last 3 days. Markets always move in two directions, no matter how right we feel we are on the coming destruction of our way of life.
Off topic: explain something to me about this short-selling business. I was reading yesterday a damning story about Milken's still ongoing criminal activities in finance, which someone posted a link to in the comments section (very long read but worth it), and at one point it said that the shares of an upstart drug company being targeted by these short-sellers linked to Milken had effectively an entire extra batch of shadow shares: they had written so many naked puts on the stock that there were as many shadow shares as legitimate shares. But now, don't they ever have to cover these short sales? How do they manage to maintain an entire extra company's worth of shadow shares floating around indefinitely?
A weak dollar is in line with our "strong dollar" policy
-Tim Geithner
Yes, obviously a weak dollar is all part of the strong dollar policy.
Give the Euro until 1.52 and we should see a tentative reversal in the buck(probably before mid month). As for the flight to safety caper, it may or may not return, I think it will have to, but nothing is set in stone here; just have to see what Bernanke and co get up to; its not over until its over, and its far from over. My feeling is that the grand circle jerk will out live us all, inflation is uber low in a historical context(shoot me!, it was 14.8% in the 80s, and 26.5% in the UK!!) so the move in gold is powerfully exaggerated, (probably because of the fact there is an exponentially larger number of investors these days, smarter, savvier and scurrying to keep they’re stash safe).
Don't confuse flight to safety with simple liquidation. Lately the dollar is not safe, just a stepping stone for converting paper assets like stocks into hard assets like gold. The dollar is absolutely on a longer term downtrend with brief retracements.
Silver and gold are not going parabolic -- it's the US dollar that's divebombing. Nobody is freaking out about parabolic oil, or parabolic wheat, saying it's a one time thing and it's time to bail out. Nope...
We're all moving to a new normal and we're not there yet because it's way over in Lonely Town where nobody wants the USD.
where nobody wants the USD.
Except those that count and make the decisions.
The MENA rioters are doing a good impression of freaking out about parabolic wheat.
T-Bill close to zero again just like in 2008:
http://finance.yahoo.com/echarts?s=^IRX+Interactive#symbol=^irx;range=5d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;
Yep it's just about crack time.
All hail the RentenBuck™. The asset backed currency with the negative interest rate.
It may be prudent to consider that the Fed has a floor on the USD...
Now knowing where it is, is the question...
There it is, under a massive cooling pool of QE liquidity, holding up all the spent fuel rods from the Atomic printing presses... :>D
Pension Default Risk
Here's an interesting article just out:
Pew Finds $1.26 Trillion State Retirement Shortfall, Says States Only Have $31 Billion In Assets To Pay For $635 Billion In Liabilities
The gap between the promises states made for employees’ retirement benefits and the money they set aside to pay for them grew to at least $1.26 trillion in fiscal year 2009, resulting in a 26 percent increase in one year. State pension plans represented slightly more than half of this shortfall, with $2.28 trillion stowed away to cover $2.94 trillion in long-term liabilities - leaving about a $660 billion gap, according to an analysis by the Pew Center on the States. Retiree health care and other bene...Did you hear all the noise by Liesman about the Fed seriously talking Exit strategies? Steve Liesman is what Goebbels used to be in the 3rd Reich: Propaganda Minister
The dollar continue to slide against the Euro, last count it was 1.48 to one Euro. And if it is true about he 5% (which I believe), very soon we will see people falling apart and going insane when those promises that where made won't be kept.
The dollar will rebound here shortly against the euro, pound and the yen, as soon as the party of six present their budget deficit proposal. The uncertainty created by the polarization of both parties is the biggest remaining threat to the dollar.
A little dramatic Tyler.
I'm all for fun and drama, but adjust those bands a touch, and change the title to 'Ho-Hum it's consolidating, nothing to see here...'