This page has been archived and commenting is disabled.
Pound Breaches 1.45, Next Stop - Much Lower
First the euro, now the cable. Europe is openly capitulating. And as the flush in the GBP is what caused the late day sell off, watch for active central bank currency purchases tonight, or else a very unpleasant market open tomorrow. The only question now is which PM dealer still has any inventory left (incidentally that is a legitimate question - if readers can recommend European PM retailers, please note them).
»
- 12355 reads
- Printer-friendly version
- Send to friend
- advertisements -
Time for payback Brittania, and the Britons shall be slaves...our slaves!
i would get out of the euro shorts and into gold like everyone else. if u look back to easter bank holiday it was a head of H&S that went down the next day. we could have the same thing but inverted today. the dollar is just gonna die all of a sudden one day, the ultimate black swan when noone wants to be the sucker holding it. yes the fiat against fiat war is lost on both sides, but the dollar is the worlds convenient promiseland playmoney, not something you want to rely on long term if you do not live there. China will get rid of its dollars strategically, possibly using US military to secure the resources they pay them for and then depeg and make yuan the global currency
It's looking more like SDR's according to China itself:
http://www.pbc.gov.cn/english/detail.asp?col=6500&ID=178
and see the usual suspects here:
http://blogs.cfr.org/setser/2009/03/29/the-pbocs-call-for-a-new-global-c...
The articles are a year old but these guys are known to plan ahead... recent news articles suggest the MF's at the IMF are gearing up
Nathan posted this weeks ago. Great summery of the manufactured crisis ahead.
Giraffe In Quicksand
http://www.youtube.com/watch?v=Khm2_l9o-98&feature=related
Gold vs Goldman?
And the 3 heads? Is that
USD,GBP, and EUR? Or is that Gold,Platinum, and
Silver. Silver is that head thats not paying
attention
www.palladiumtrading.com. We've got all the bullion you can handle :).
Oi, do stop by Harrod's Tea Room for some of their lovely blends now's their so cheap, there's a dear?
Anything else worth buying there? Hmm, digging through bins in record stores is a total high in London these days (just buy random CD singles you'll be blown away), but do they still make Dinky toys in the UK?
I actually have a yellow metal semi (vintage 1974) with two red plastic shipping containers on it, happens to be the exact same scale as my little Lionel train set (multi-modal eh) and on the bottom of these plastic boxes it says:
MADE IN GREAT BRITAIN
Breathtaking isn't it...
Interesting article from GATA here
http://www.gata.org/node/8641
In it James G. Rickards, senior managing director for Virginia-based research firm Omnis Inc. predicts gold to rise to $2,000 in the near term and $5,000
(of course that assumes liquidity with the market not throttled and controlled by large calls for delivery of PM by the big players...)
There’s a link to an interview in the article where he made an interesting remark...
that world government is under construction, and it's not the hallucination of the paranoid fringe. Rather, Rickards said, it's being arranged at the International Monetary Fund, whose Special Drawing Rights are being prepared to replace the U.S. dollar as the international reserve currency. While this might terminate the unfair advantages given to the country that issues the reserve currency, Rickards said, it creates other problems: The IMF has no direct accountability to anyone and indeed letting it issue SDRs as a reserve currency would be money creation without any accountability at all.
This explains the current sovereign debt crisis in a way...
IMO the G20 in June is going to be all about finalizing SDRs, as the European contagion is just sovereign debt profit taking during the exchange of private (privateer) market debt for central bank obligations that will be the slave chains of a new closed global currency. The currency fluctuations defy all market logic because they are being gamed to deliver the GBP, Euro and USD to parity in preparation for this...
That 'clink' you'll hear at the end will be the cage door closing…a few weeks after all this the Forex trader market will probably be reduced to the equivalent of this
http://news.cnet.com/8301-13772_3-20004670-52.html
So world government is not paranoid conspiracy anymore?..Reminds of those old stoner T-shirts that said, “Just because you’re paranoid doesn’t mean that they’re not out to get you”
SDR=Bancor
Keynes Bitchez
I wonder if the currency symbol will be a G with an 11 through it...
like all the other private central bank currencies
Late here in Chicago. Dinner meeting went late with optimistic economic discussions ruling the evening. And, from what I see here in Chicago, well warranted. Restaurants were packed. Bars were overflowing and shoppers were out in full force.
With the futures building strength over night and Chinese banks releasing statements of limited exposure to any bad mortgages, tomorrow should be a monster day. We also have the catalyst of Retail Sales right away. And with expectations tempered, an upside surprise is pretty much a given.
No time for trading tomorrow with meetings all day but it should be easy pickings, especially heading into the weekend for bulls.
You'd make a terrific weather man Harry especially with that Hollywood smile & all, may the best trades be with you as you sure know how to stay positive & that in itself is no small feat
Harry, you remind me of Phil Gramm when he was commenting here last year. I would love to see the both of you run a sub-thread.... Phil would be taking the long BP/deep water drilling and UBS book while you talked yours. WhoT!
I think his account aught to be suspended. Futures up indeed.
I can only hope he is a clown or jester that ZH parades out on purpose to get us all riled up. Give us something to aim our displeasure at.
Pre market Dow down 97.
What a clown.
https://www.ukbullion.co.uk/ still have stock. Wolverhampton based.
Good people, very security conscious. Got 2 full orders fulfilled without a hitch.
What do you do when you run a hughe deficit?
TAX CUTS!!! GENIUS!!
http://www.telegraph.co.uk/news/newstopics/politics/7721618/Coalition-government-tax-cuts-of-140-for-workers-on-basic-rate.html
in London, home of the physical PM market:
http://www.goldinvestments.co.uk/main/
http://www.goldline.co.uk/
and a guernsey based alternative:
http://www.guernseymint.com/product/Gold-Bars.aspx
(just a small nit-pick here...its simply "Cable". Just "Cable", that all! Not "the cable". Seen this a few times on here, bugged me a little... must be another americanisation (note the "s", not "z") cooked up by you good americano's)
EUR at Hit 1.248 and like a rock
....1.245 and chances are we will see some action this afternoon...
Actually, there needs to be some question left hanging to provide the proper returns to the market makers for the next episode of Melt Up MondayTM.
If they take the bait, then immolate!
Can you hear me? This is the beginning of the End of the Eurozone. That's obvious. But how does this affect the US?