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DXY Breaks Yesterday Highs As Dow Briefly Jumps On MO $12 Billion Buy Back Announcement
Even as the realization that a "bail out" (and not just any bailout, but the most confused and unwanted bailout in history) is nothing but a preamble to the same economic collapse that we saw after Bear and the GSEs were bailed out, and the dollar goes vertical taking out yesterday's highs, the Dow tries to stage a rally following MO's $12 billion buyback announcement... and fails. The dollar-market correlation algos are just too powerful.
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One algo that doesn't seem to be working today is rallying dollar AND strong materials stocks, right across the board on metals, fertilizers, you name it - I have 16 for 16 materials I track UP today. Que pasa?
I think they are just bouncing currencies around to give them an excuse to rise or fall. But some people are really running for safety in metals.
Simply the Golden Rule: S/He who has the gold rules. This is why central banks hold gold and not oil, not copper, not diamonds or other items. Of course one needs to physically hold the gold, paper gold is just another Monopoly Money colored sheet of paper (or electronic number in a computer).
ALWAYS take PHYSICAL delivery of gold.
goaled bitchez!!!
Buy silver!
According to a safehaven.com article I read this morning, silver is in even worse technical shape than gold.
Gold bitch!
Sure! And make sure you pay premiums for the physical coins too.
Gold to 6000 by March bitchez!
Premiums?
$7/oz for JM kilo bar
$10/oz for JM 10 oz bar (Apmex)
$25/oz for Pamp Suisse 1 oz bars
Tulving (free shipping, 20 oz minimums)
Gainesville Coin ($24 ship, no min buy)
Apmex ($24 ship, no min buy)
As for other items, coins with higher premiums, check the spread of buy versus sell prices (Tulving).
Of course a few friends simply get ~400/oz COMEX or London good delivery bars and take physical possession of said bars (addtl costs vary on delivery depending on the agent you use).
"By nature gold is not money, but money is by nature gold." -Marx
There is a reason why banks hold gold. Gold is their proprietary trade. First loan of recourse. Snowball affect gets the avalanche going. The ponzi starts with gold.
Leave it up to an anti-America goldbug to quote Marx.
The best argument that goldbugs have is that "America is going to die tomorrow."
Anti-American tripe. Commies...
First I am not anti' American, I am anti-establishment. Second I am not a commi, but a free market capitalist, who likes to quote knowledgeable men when they say knowledgeable things. 1776 baby!
Would you like to kneel in front of those Jekyll Island "patriots"? Rockefeller's grandpappy was counting on greedy morons to make the ponzi function.
Master Bates is turning downright nasty in his comments about gold bugs.
I would beg to differ; central banks don't hold (sufficient) gold, they hold governments.
Gold could/would never allow the degree of global leverage 'enjoyed' by fiat, so CBs focus on controlling the ultimate "assets": people.
The advantage of holding people is that it's nearly as safe as gold. Tommy J famously said:
The problem, of course, is that every now and then, whether it be the French, Russians or even 'Mericans, the People sometimes decide to exercise the operable clause:
And so the great reset begins.
PS I hate the term 'Great Recession' almost as much as GDII. That's why I prefer to use the term "Great Reset".
Yes, a rush to safety. Now that the market can see that there's no deal on Greece, that the fuse runs from there to the PIIGS, then to the Eurozone, and from there to the US and China.
It may also have something to do with the Iranian situation.
that is pretty unusual
"that is pretty unusual"
I understand your point but if we wish to be honest, what has gone down over the past 2 or 3 years has rendered any opinion of whether something is usual or unusual completely useless.
We have crossed over into the Twilight Zone and there is no "normal" anymore. Where is Rod Serling when you need him?
http://www.youtube.com/watch?v=NzlG28B-R8Y
BTW, watch the intro for "The Outer Limits" which speaks to what we are experiencing today. Listen to the words carefully.
http://www.youtube.com/watch?v=2I7vPbthvWo&feature=related
Don't respond to him ... just flag as Junk and hope the moderators are able to nuke all of his various aliases and IP addresses.
This is Cetin "I am Ned" Hakimoglu, whose retarded spam has been clogging up the SeekingAlpha message boards for years.
But this time he wasn't shilling his web site.
Much of the decision making by persons whose entire lives are immersed in the fiction of finance assumes that the future must always be a reflection of the past. I believe that this assumption is invalid and that the 21st century is going place unexpected stresses on the economic systems of the world.
For instance, prior to the crash, despite oil increasing in price by 400% in 5 years, global production failed to rise, even as massive investments in new wells were taking place. There is strong evidence that, while we may not yet be actually at the peak of global production, that we are getting very close. For the first time ever, major players in the oil industry itself are talking about maximum global flow rates. And oil is not the only such raw material facing such constraints.
One economist recently stated that except for the inability of the global oil industry to raise production, gasoline prices in this recession probably would have already fallen back below $1 per gallon. This is true not only of oil but also of many key strategic minerals and various other materials. No, we are not running out but we may be facing levels where we can't extract any more at a faster pace than we already are. This, in effect, places physical resource limits on where economies can go.
Despite the attempts of Wall Street to live in Neverland, the real economy must be tied to the real world and the energy and resource flows in that real world. If the 21st century is indeed seeing the first signs of resource scarcity facing global industrial civilization, there will be unexpected side effects. One of those effects could be rising or at least stable commodity prices during a generally deflationary depression, making the rate at which standards of living decline actually faster than the rate of decline in wages alone would suggest.
Yes, we are facing one of the largest debt bubbles deflating that humanity has ever created. But in addition to this debt bubble deflating we may be, at the same time, running into hard limits that will place a real physical ceiling on what any subsequent recovery can look like. These limits, such as limits in total global petroleum flow rates, mean that we cannot expect "prosperity" in the same terms as we experienced it previously. This is one reason why I am long term bullish on electric transportation, from electric cars to electric rail. I believe that the rapidly rising costs of oil exploration and extraction, coupled with increasing demand for middle class lifestyles by more people globally, will render petroleum based transportation obsolete far sooner than people expect.
In order to achieve prosperity in a future of growing resource constraints, we must do things differently and more efficiently. But before we get the chance to do this, these same resource constraints may shape the Great Recession currently underway into something far worse than many people expect, because even after the debt bubble finally implodes, we will still have these constraints binding us as we seek to rebuild a prosperous future. Any attempt to rebuild the future in the image of the past are, in my opinion, doomed to failure. Yet oddly enough, all we see, from Wall Street to Washington, are attempts to do exactly that.
It should surprise no one then that not only is the financial system going down, but that the road up out of the pit of economic collapse may run far longer and have more twists and turns than many people expect.
"Never look a gift horse in the mouth" comes to mind today :)
ahhhhh, I love capitalism....
Let's FIRE WORKERS... but BUY STOCK.
Is capitalism truly the best system?
And people wonder why the system is about to collapse.
It's the Fed! It's the Socialists! It's the Commies! It's the Ruskies!
How about.... It our own self-serving GREED?
This is something I realized a few years ago. I think we've yet to discover the best system, and unfortunately, that system will either never be recognized or just not for a long time. Regardless we'll never experience it in our lifetimes as we'll be too busy pointing fingers, praying to sky wizards, killing each other in the name of sky wizards, and competing with each other to own the most shit.
Like the guys who wrote "Freakonomics" say, the best system is the one which harnesses what people want to do anyway, rather than tries to change them. Capitalism does that. To imagine that there's some as-yet-undiscovered system which will do it better is idle daydreaming.
Capitalism promotes lies.
I'll teach you knowledge, but for a few more coins I'll teach you better knowledge.
I'll heal you, but for a few dollars more, I'll heal you better and for a lot of dollars more, I'll cure you.
How is that a better system?
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. - George Bernard Shaw
I'm afraid the BS here sir, is your opinion that change must be made slightly.... just like issuing more debt trying to fix a failing system.
"I'll teach you knowledge, but for a few more coins I'll teach you better knowledge."
Kind of makes you wonder how all those communist-sympathizing profs justify working for institutions that place students under debt slavery just to get a piece of paper.
"I'll heal you, but for a few dollars more, I'll heal you better and for a lot of dollars more, I'll cure you."
Sounds like you believe the universe owes you a living. Perhaps the best thing that could happen in a global economic downturn is that three generations of American mediocrity will finally realize that the mommy state isn't going to be their to wipe their bottoms, and they'll actually have to exercise some self-reliance for the first time in their lives.
woooowwwww, you so don't see the point of those arguments, instead you defend your institution.
No, the world doesn't owe me shit, but if you want me to work my hardest for you, pay me what I'm worth, not what I need to barely survive while you live in a mansion.
You want a better workforce? Educate them.
You want a stronger workforce? Heal them.
That's why we pay taxes, we don't pay taxes to help finance bankers.
Now on the flipside, I also believe in mandatory military service and I don't believe in welfare or child tax credits.
Don't think you know my beliefs, attack the arguments, not your hypothetical musings on my motives. I might be a socialist, but I'm also a free-marketer, NOT a capitalist. There's a huge fucking difference.
I think we've yet to discover the best system
I think you're right.
unfortunately, that system will either never be recognized or just not for a long time.
I think it will.
Regardless we'll never experience it in our lifetimes
I hope you're wrong :)
praying to sky wizards, killing each other in the name of sky wizards, and competing with each other to own the most shit.
Funny because all of those sky wizards are EXACTLY THE SAME ONE.... we just argue about who represents them on earth? Ain't that some shit?
Capitalism is absolutely the best, it is self regulating and rewards the brightest.
Unfortunately I do not believe that capitalism is still practiced anywhere.
We don't have capitalism. We have imperialist cronyism based on a debt based monetary system.
It's only the fools who think we've had capitalism for at least the past 40 years+.
Bingo.
Isn't that what capitalism is? Buy the politicians, make more money.
Greed is Good.
Well, so is a colonic but you don't see me shoving a tube up my ass every day.
Exactly. GS got a bailouts while tens of thousands of small businesses die every year. More Downside to Come as Debt Takes Toll on Economy
Amen brother! If we had capitalism, ie sound currency, allow failed business to fail, no bailouts, observe contract law, things would be fine.
Capitalism requires not only success, but also failures.
: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
hrmmmm. Wouldn't a corporation attempt to own a market if they could? Oh wait.... they do. Then the market wouldn't be free, then we wouldn't have capitalism.
It's a self defeating cycle.... kinda like the debt cycle.
I love how people flock to the same ideas that fail them.... kinda like a Just God
People never learn.
One more thing to mention.... the original post was on how they FIRED WORKERS but are BUYING STOCK.
How does that create the greatest good? Once again, people defend ideals and not reality.
It's important for eveyone to get out of the habit of saying OUR. Just like getting out of the habit of saying WE when referring to the Financial Markets or the US Government. It's is not OUR and has not been WE for a long time. It's THEM and it time to get rid of THEM and I am not talking elections.
by electing the OTHER them?
Previous choppy sideways action for DOW/SP500 and EURO have resolved once again to the downside.
So SP500/DOW downtrend and the USD uptrend reasert their dominance yet again.
This is very bearish for equities.
Substantial USD rally just gets closer and closer.
http://www.zerohedge.com/forum/market-outlook-0
Grand Supercycle, thanks so much for your many posts, just wanted you to know you are very appreciated.
I like your shiny eye.
Some moments ago the Dutch parliament has stated that 'under no circumstances the Dutch government will agree to pay for a Greek bailout.' They want the Greek to solve their problems themselves, or the IMF come to the rescue. The usual problem: no uniformity, no union, no firm decision. Here is the EU for you.
repeated by mistake
1st time was a mistake also
... heard that a lot from your mother ?
What do the USD bears not understand? The EUR is done. Get it?
so what. thats no free ticket for the dollar. all currencies are in deep trouble, its just a matter of time. And we dont have much time to get out of this financial terrorism.
You mean PM's $12 billion repurchase. MO's smaller, younger, sexier foreign sibling.
As a trader buy the euro dip
LOL. Yeah, let me know how that works out for ya.
I meant short term. I think it's oversold and due for a short lived boune of some sort.
I meant short term, too.
Seriously, this isn't the Google finance boards where you can post random unsubstantiated out-of-consensus trading advice and expect there will be some uninformed mom & pop traders who might take you seriously. The ZH regulars are generally quite a bit more well-informed than that.
and breaks 1.36 as Merkel states "Greece Never Asked For Financial Support " and "Will Discuss Issues As They Arise".
Well as long as there is news to cover whatever is happening reguardless. I like stories to go along with the actions.
Yes, Andy i would rising by the hour.
But it seems to me all EU officials saying the same thing "greece has asked for no financial aid" and Von Rumples said that only discussed Greek debt no other EU states (shades of 2008 all over again.....only discuss first domino, none of the others)
Some of them are. Some buy GOLD from Rosland Capital.
Some listen to snot-nose kids
Well, you better have a very clear-cut trading plan because in my experience "oversold" means nothing in a bear market, where "oversold" is just a weigh station on the way to "more oversold". IF you have very clear entry, exit and stop movement rules, go for it.
Sorry, didn't realize that was Cetin "I am Ned" Hakimoglu, spammer extraordinaire.
I may have to quit ZH for good ... I refuse to waste any more time reading that flaming idiot.
Choppy Choppy
More Downside to Come as Debt Takes Toll on Economy
SPX
Please fasten your seatbelts...turbulence ahead!
The hard deck for this mission is 10k.
...unexpectedly...
Why is the chf getting killed?
Where the "GOALED BITCHEZ" crowd?
They've been awfully quiet since predicting that gold would go to 2000 and beyond by the spring...
You know how Nietzsche says "Beware when fighting monsters, lest one become a monster oneself"? Yeah, that's you and the gold bugs. We get it, already.
Only I'm not retarded.
Buy silver!
And just how is buying another declining asset to make up for a declining asset a prudent financial strategy?
It's like switching from buying single family homes to condos because housing is declining.
Strawman.
/CL
My that oil is slippery. Whee!
Must. . . keep . . DOW. . . above. . . 10K
- The Little Federal Reserve Algorithm That Could
They sure have quite the algorithm working for them.
It's amazing how much it gets back up over 10000
Let's see Stiglitz is an idiot. wants a second stimulus. Dow 5K or 15K?
OH CRAP!!!
IT'S NED!!!
GOD DAMMIT NED! Why do you ruin every single message board with your spam and filth?!?!?!
OH CRAP!!!
IT'S NED!!!
GOD DAMMIT NED! Why do you ruin every single message board with your spam and filth?!?!?!
TD's buy recommendation on the 10k hat was an excellent call. Weeks of fun with that thing.
Meanwhile gold rides the wave. Lovin it!
I love how Beso and I are the only ones with a slight bit of outrage over the FIRE WORKERS, BUY STOCK reality.
The denigration of the readers here has become excessive.... yeah, time to start charging fees. Now I've flipped on the subject.... the revolution should ignore the idiots :)
Gold brakes "resistance level"...if there is such a thing any more...$1080 bitches. Hey bitches....Gold!
Meanwhile silver is getting held underwater by JP Morgan's Master Masons,er, I mean Market Manipulators. Here is a vid from the Inflation Nation guy the other day. He talks the silver market.
Silver Longs Getting Crushed by JP Morgan Manipulation:http://www.youtube.com/watch?v=BeyrOo_e7e4
You spelled breaks wrong.
Oh, and silver is "being manipulated."
Why is it that when the market makes your investments go up, it's because they're "strong investments" but when the market makes them go down, it's "manipulation?"
I'll believe that gold is bonafide when it breaks 1100 again. First 1080, then 1100, then I'll believe in your predictions.
we are getting close today! Gentleman's bet. gold brakes 11 hundo today!
Reading now: http://www.iamned.com ..crisis will intensify
Umm... you do realize that it's Philip Morris International (PM) doing the $12B buyback -- and NOT Altria (MO).
Took 80-something posts to point it out. Meh.
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