This page has been archived and commenting is disabled.
USDCNY Closes At 5 Year Low Of 6.7970, As Gold Hits Another Record High Of $1,263
Even as investors increasingly sniff at the possibility of the CNY becoming the new reserve currency, buying up the Yuan with both hands, resulting in a provisional close of 6.7970, the highest since the 2005 revaluation, and even as algos cheer this move in the futures market, gold hits another all time record of $1,263. For full implications of what buying both stocks and gold at the same time, we refer you to the previously published essay by Don Coxe, but in a nutshell, it is a rather bad omen, when stock appreciation is being hedged for complete systemic failure. In the meantime, China's UST holdings just depreciated by a few billion in FX adjusted terms, and the end of the USD accumulation, as well as its negative trade balance, means that the country will now be a second-rate player in the Treasury market. We really hope the frontrunning algos have it right this time.
»
- 2555 reads
- Printer-friendly version
- Send to friend
- advertisements -
Hmm lets see, any time the futures were down 1% or more, Rule 48 was in place.
Now on the flip side? Of course not. Everything's green, all is well.
OH, you noticed that?
Ed. suggestions: (1) bond >> (both), (2) at the same time (mean), (3) when stock >> as stock, (4) and the end of USD (nix the and), (5) the country, define it for clarity.
Ever notice the Gordon Liddy gold commercial still says," And our 10 trillion dollar debt"? Are they just too cheap to make a new voice over?
The thing that confounds me is how the PM bears, prominent among them -- Jon Nadler, continue to talk down gold as it continues to move in a long-term secular bull trend.
Whether it was at $400, or $600, or $800, or $1000, or $1200 . . . it was always "overvalued". Who listens to these guys anymore?
With their batting average of .000, why does any media outlet give them even a 10-second platform any more????
Clue me...................
Has Timmmmay, lost his mind?.
Why would the US Gv't be happy about the Yuan reval?.
They think it will help the trade export imbalance?.
It may, but the USD's /Treasuries/Bonds coming back, seems to way overide that benefit.
Monday 3:00 Gold 1234.40 and dropping like a rock, what happened?
Welcome to visit http://www.christianlouboutinsandalssale.com. So cute and how stylish they are! The peep toe shoes are various styles such as peep toe pumps. These peep toe high heels can make you crazy which are so sexy! For example, red peep toe pumps are so charming! The black peep toe pumps are so calssical! White peep toe pumps are so pure! The wedge peep toe shoes can bring you different comfortable feeling! We offer many series of sandals high heels such as Alexander McQueen Shoes, manolo blahniks, manolo blahnik wedding shoes and christian louboutin slingbacks. The peep toe slingback are hot sale this summer! Welcome to shop or buy fashionable sandals high heels shoes!