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Liquidations Continue: Stocks, Dollar Slide, Precious Metals Pounded In Asia Trading
Markets are very active in the early Asian trading session (following the G-20-'s warnings over excess risk-taking). Precious metal liquidations continue with silver bearing the brunt (back below pre-Lehman levels) and gold down modestly. Stocks from China to US are all down notably too. The USD is weakening as EUR strengthens on the back of ECB comments about the possibility of no more stimulus and chatter that the PBOC may be selling USDs. Treasury yields are down (having retraced all FOMC losses). Iron Ore futures in Singapore just hit a record low below $80.
Treasuries have recovered all post-FOMC losses...
Precious metals continue to get smashed lower...
and here post FOMC....
To multi-year lows...
S&P Futures are down 9 points... and most of Asian stock markets are sliding (especially China)
And the USDollar is losing steam...
as EUR strength trickles back on the ECB's G-20 comments
and JPY strength is dragging carry lower...
And Chinese stocks are losing their luster despite China's efforts to pile its people into this bubble now that real estate has popped...
* * *
Something has changed...
Charts:Bloomberg
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So, other side of the boat now?
Pure comedy. back up the truck bitchz!
Seriously...
NOT YET!
gold to silver ratio is currently 1oz gold to 68oz silver..
in 2007-08 (before and during the first collapse) the ratio was 1oz to 83oz...and were going to have a replay of that again!! when silver hits $14.75 hit it...HARD!
Zow. I never really followed PM before.
That history chart, and "Silver was hammered to 8.50 roughly a month before the 2008 crash", maybe 30% real inflation since then makes around $13 now, but if the gold/silver ratio is going to get even weaker this time maybe $12?
I was ready to start buying some silver eagles anywhere under $18, but now I'm not so sure, wait for this falling knife to hit some resistance anyway. Thanks.
someone wrote on ZH 'no one is selling at sub 18 spot' on friday with the implication that it was going to bounce back shortly, where those non-sellers would be vindicated for the 'strength of their hands.' little did he know (cuz it's always a he) that 17.50 was on the way before the week even started.
not everyone has the luxury of sitting on product that is meant for sale while the price keeps falling, but some of us are lucky enough to have the fiat to buy that product at the price the market will bear. 'tic, toc, tic, toc' as the saying goes.
my little stack of PMs has been growing nicely as a result. a handful here, a handful there, and next thing you know you've got a substantial collection of oz.s waiting for Central Banks' next move. CBs in particular, because they've set themselves on a path and will not deviate from it, come hell or high water.
17.50 is a gift from the PM gods you should appreciate, that I appreciate with the "beep, beep, beep" of a delivery truck. $12 target you say? we should be so lucky. $12 would mean CB's have thrown in the towel and washed their hands of the collapse of the financial world. what are the odds of that, given the precedent they've set over the past 6-30 years? miniscule at best.
worry not, keep stacking.
Dunno, if I can exchange a $20 Federal Reserve Debt note, backed by nothing other than the confident ability of men with guns to rob me and my productive brothers, for a sweet ounce of name brand silver...ASE, CML, APH...
...I have to say, I must. I MUST.
Right now, I'm seeing Eagles at 20.08 , Maples at 19.91, and Philharmonics at 19.79;
I'm off to bed for 7 hours - and should the prices remain I'm going to have to convert a few thousand debt slave notes into sweet, sexy silver.
How do you sell your PMs without substantially going under the spot price and most importantly in a timely manner?
I do hold some metals, but I cannot see the point of it, other than hedging for the worst. For that reason I buy some every 6-8 months but I wouldn't allocate more than 5% of my portfolio to it.
"How do you sell your PMs without substantially going under the spot price and most importantly in a timely manner?"
Simple, you don't. I don't see my silver stack as some kind of stock or bond to be sold at a moment's notice. If I have to sell it, I can and it's available. I do everying I can to keep from selling it as I plan to hold on to it for the next 20 years or so as a retirement plan, if I'm around that long I imagine it will be worth more than $20 bucks an ounce.
"Simple, you don't"
exactly. you're not buying PMs to daytrade with, you're buying them for the increasingly probably outcome of the global monetary policy regime we are living under. they're your insurance policy against Abe, Yellen, and Draghi's failure... and they have a fairly well-established track record of failure.
Metals are rallying; it's Monday morning foks; it's not last week.
https://www.youtube.com/watch?v=vRw3HeTCLFc&list=PL5JJuomXz59uQOcVjfRPsT... this will help.
Yep, just bought more silver.
Going to need a bigger boat soon.
Little one sank afew years back. LOL LOl Lol lol
Nice prices on junk silver. Eagle premiums ip but junk still low. Got some tonight.
You ain't seen nothing yet. By this time next year, gold will be under $800 dollars an ounce. The jig is up. And the genie known as severe deflation will soon be let out of his bottle. Only makes sense. Can anyone actually envision the DOW getting past the 18,000 mark. This balloon is about to pop.
Something is not right in the new normal, you can almost hear the whole mess creaking and groaning from a million different pressure points. Hold fast mofos.
Junk Silver is the greatest bargain on the planet. It constantly amazes me there is any left; a sort of measure of human in-attention, I suppose.
I was thinking to buy 200 ounces of silver, now I'll buy 300.
As will I.
Bought 150 Maples yesterday, thanks Doc!
Hey, hello.
It is not possible to have USD drop and assets measured in USD drop also.
USD drop (more dollars avaialble) = assets go higher
USD hike (less dollars available) = assets go lower
Though, there must be a lagging time from margin call till liquadtion, 3-4 days I guess
Many things not possible seem to happen every day.
Many things.
The system is a video game now, like Playstation network.
Just type digits up or down without any reference to any trade or real trade
At the end they will try to jury rig Atari 2600 cartriges into that Playstation and have the media try to convince you that it´s going to work.
like this?
Cape Cod, MA, US
Sep 22, 2014, 12:38 AM GMT (2h)More: 3 Afghan military officers missing since Saturday were in US for joint training exercise with Massachusetts National Guard at Joint Base Cape Code, Pentagon says - @ABC Read more on abcnews.go.com
I am laughing in sheer amusement. What in the fuck were 3 Afgani officers doing in Cape Cod?
It isn't hard to imagine that they would get a taste of Cape Cod in the late summer and say "fuck no" to the prospect of returning to Afganistan. It could always be something nefarious but it could just be as simple as seeing the ocean, women, greenery, etc and just simply not wanting to go back.
maybe they were there
for the lobster..
or clams
I am not 100% but I am pretty sure Muzzies are forbidden from eating shellfish.
Just following orders.
Yet it is happening. Funny your definition of not possible.
Which means that the system is OVERRIDEN electronically not to reflect the real world
If NY Fed is extinguishing dollars, then less dollars available.
It is impossible that all assets drop also, though there must be a lag period
Of course, it has to be overridden. Any bit of truth allowed into the market would immediately bankrupt all the big banks, and .gov too. This is worse than a ponzi, because ponzi's have new entrants that subsidize the ones exiting. This is pure market fraud and a fallacy, as there are no new entrants into the Fed matrix.
Dry heaves. We'll all feel better in the morning (when gravity pulls the whole magic show down to earth).
What's the mining cost per ounce again to get the shinny stuff out of the ground?
Five dollars. Which coincidentally is the face value of a silver Maple?
The face of a silver maple is the queen of england
And the maple belongs to her.
Silver was hammered to 8.50 roughly a month before the 2008 crash. Maybe history doesn't repeat but it rhymes and this waterfall in the metals on NO NEWS could be signalling something big.
You beat me -lol
fyi, at that price, everything at my local dealer was sold out. all they had was 1000 oz bars. And the spread was huge. I made a good size buy when spot was $9ish and my bars cost $12ish per oz. If you want 90% silver coins or ASE's you need to buy before the bottom, because nothing will be available down there.
Everyone always says ‘the local dealer is out’… but nobody ever adds, “so I picked-up two monster boxes and am feeding the demand… selling eagles $3.00 over spot… and am almost out..”
Right, and when it was hammered to 8, you couldn't buy it at 8, because no one wouild sell it at 8. You could buy at 16, a 100% premium, but not at 8. Keep that in mind, folks. Sellers don't have to sell at ridiculous prices. No law says they have to give it away. Same goes for gold.
The difference being paper or metal.
period.
"Sellers don't have to sell at ridiculous prices"
you're assuming sellers, miners, and brokers w/ inventory aren't as leveraged as every financial institution on the globe.
riding out the bottom only works if you can afford it. only time will tell for how many that is true. tic, toc, tic, toc.
The news was that the Chinese went and opened a gold exchange.
Same thing happened to PMs in July/August 2008 right before the big September meltdown.
Could this be history repeating itself?
Except these smashes almost always occur at illiquid times with NO NEWS. Obviously, there is an insane dwarf with millions of ounces of Ag always ready to sell some of his horde on some random synapse firing off.
Either that or it's another programmed price smash by banksters selling naked shorts on the GLOBEX in an attempt to shake out strong hands and decrease a troubling amount of open positions at the COMEX.
Personally, I'm beginning to think the dwarf story makes more and more sense.
"Obviously, there is an insane dwarf with millions of ounces of Ag always ready to sell some of his horde on some random synapse firing off."
When did Robert Reich get ahold of millions of ounces of Ag?
The August/September 2008 smashdowns happened with almost no news as well... shortly thereafter there was a lot of news.
Friday the algos went Alibaba and Saturday everyone realised they owned a Cayman holding company probably illegal in China.
Maybe this is the time everyone is just going to hard fiat CASH ?
Hope they switch to Silver and Gold soon as much harder and durable than fiat.
You mean there are large institutions that see a disaster approaching and are scrambling for cash or trying to manipulate the market in order to avoid a complete crash? It could very much be the case, they are certainly in a position to see something on their balance sheet long before it becomes headline news. The only thing I have to say is hat things have been getting too batshit crazy in the PM markets lately. Certainly points to something out of the ordinary. My guess... dedollarization has gone on steroids and happening faster than we think.
So K-Hen's cell is blowing up with calls to get into the office. Perhaps we should send some donuts and coffee to his office. He's going to have a long night.
Gold is so undervalued today when you compare it to the Fed's balance sheet / Money Supply. In relative terms, it's cheaper now than it was in 2001. Back up the truck.
Click here to see the chart I created illustrating this
Nice chart. I'm buying down into this dip. I literally have nothing to lose. Don't care if it goes lower, because the alternative is a dead financial system.
That's one eye-watering chart, dude. $6,200 adjusted price doesn't surprise me at all.
Excellent chart Arkel. What did you use for the money supply? Where did you get the data?
Monetary Base:
http://research.stlouisfed.org/fred2/series/AMBNS/downloaddata?cid=124
Gold Reserve:
The link to the US gold reserve data I used is no longer active (http://www.usagold.com/reference/gold-reserve-history.pdf), but you can take a look at this to see the how much gold the US held and is holding now (http://www.24hgold.com/english/contributor.aspx?article=4249489564G10020...).
We've been holding around 8,133 tons of gold since the 80s, so that is the number I'm using now.
Please explain why , if the Fed had 8,133 tons they will not allow the repatriation of the German gold ?
In my view the FED have no gold . Their words have no credibility . They shoudl explain also why with increasing demand from the public of PM the price is not going up ? The laws of the market are a fraud because the market is RIGGED .
It's only held on the Feds balance sheet, the Fed has no idea where "there" gold actually is so they can not give/get physcial back to it's depositors so instead they give the equivalent amount in dollars. If the admitted spot price is too high, we would therefore have to give more dollars in a world already awash in dollars. It would be the equivalent of hyperinflation squared. The same holds true with interest rates, our debt is so high that if interest rates were to rise substancially, we would quickly have to pay back more dollars in a local gvt mkt that is struggling to collect dollars. So you see, we truley are fucked as a nation if the current set of circumstances is allowed to continue into the not so distant future.
Possession is nine tenths of the law, why give your gold to a muppet state who is colonised by the US and no doubt is still paying you back for WW2 reperations?
Something doesnt stack up here, most people believe that the US has no gold, i wouldnt be surprised to the contrary.
Mike Maloney has a similar chart, however he also added unpaid credit card balances. I think it was in the third video of his series and was recently featured in an article here on ZH.
so buy stalks? new highs tomorrow
"Long word splatter."
No new highs tomorrow. or Tues. or Weds. or thurs. or Fri.
So... Saturday, then?
LULZ. Maybe.
Truly can't think of any space that ain't fucking bullshit right now. You name it, it is valued wrong. The fed has everything so fucking cobbed up it is like investment twilight zone...
"The fed has everything so fucking cobbed up it is like investment twilight zone"
And the Fed is stuck in the twilight zone were it's going to get a lot more screwed up.
We go full on rates at 0 forever. They'll use QE, no QE instead.
Expect the federal reserve to change from $85 billion/month to $150 billion/month QE when the Fed realizes the economy is sliding back into a recession. It's when people realize it's the Zimbabwe economic model.
Peter Schiff.
https://www.youtube.com/watch?v=5OltIDWXJiw&list=PL9hNbo_Ztnr-WOVB_Gcttl...
You have enter the investment twilight zone...
Mining companies are getting so trashed that I'm actually scared to buy them. That probably means now is close to a good buying time, but I'm too scared to act.
My stocks capital is almost annihilated.
Keep calm and carry on. If you've built a war chest over the past 5 Years get ready your going to need it in the coming months. Remember all those times you said "i wish I bought at that price" or " I wish I bought more" the coming months are when to do it.
Sure the markets might stay irrational longer than you keep that war chest, but as long as you don't buy on margin, you'll be right as rain. Bring on the dark times...we're ready!
god dammit - everybody needs a cool head like urs in the group to counter hote headed mother fuckers like me that just wanna kill bankers...
appreciate u man...
This'll be fun.
Im getting close to my ground asset value now. Which mwans I can get more of the same ground asset value. Ive really enjoyed it over the years and Ill think Ill buy more of it.
Copper stayed under production cost for years during the last Depression.
I recommend people look at the metals pricing over that period.
Despite the endless QE its looking more and more like a redux.
wow, /es down 10. better bring in the tomato plants
Wrong forum for the tomato plants.
Sept. 22; AM. it'll be down today; FTSE is getting hammered in LONDON. Metals rallying.
Interesting observation about the silver smackdown a month before Lehman.
I'm analyzing some mining companies, but definitely tempted to get moar of the phyz.
Bitcoing is also getting slammed. Coincidence?
I think not.
It is possible to naked short btc now too...
Got link?
bitfinex, plus500 but I never used them so be sure to do your due diligence.
Waiting and watching with a pile of cash.
Something doesn't seem right. Check for shroom clouds in the morning.
Already happened in Donetsk over the weekend. I have seen stills, this is the first video I have seen.
http://youtu.be/Oy7yNnQghs8
Not a Nuke.
Understood. I am way ahead of you there, chief. The operative words were "mushroom cloud". Did you see one of those in the vid? I sure as hell did.
Well, somehow the year 2014 has appeared on the Georgia Guidestones.
I guess that does fall in line with the "Reset Button" discussed at Davos in January.
G/S ratio shot up near 70 this evening. I think that confirms there was a major breakout on the G/S ratio on Friday. Does anyone know where the next resistance is?
And I remember a conversation where someone could not believe I was buying gold and selling silver in March 2011. I guess that is the only solace I can have as a gold investor now....that I dumped my silver at the right time.
The right time to dump silver is when you trade it for veggies at the farmer's market -- when they don't accept dollars any more.
Exactly. If you are buying as an investment, you are on the wrong track. It's only a metal for the apocalypse, as unlikely as that might be.
You may be waiting your whole life for that.
That cool-aid is strong isn't it!
~ 80
and the bullshit continues...
should have waited but bought @18.08...
thinkin they wouldnt dare push thru 18...
what a fucking joke...another 100oz will be ordered this week...
thanks u mother fucking asshole banker cocksuckers.....
Don't get too worked up, don't forget lower prices are good for the buyer. Pace yourself with purchases, maintain a system. There's light at the end of the tunnel. I have a feeling we're about to break them. They are testing out resolve, a big miscalculation.
thanks even the the most staunch warriors need moral support sometimes...
after all we're just men...
No prob, me too sometimes, not now though, just excited. I bought as high as 42 and all the way down. I just crossed into the red for my silver investment, but that's ok. I'm expecting 12 bucks as the low, not gona stay there long though. All just educated guesses, but that's all any of us have. I'm hoping stocks get reasonable again, I love a good sale.
And I knew to buy in the 1990's, but didn't.
Fool me once....
Stack On
I was a big dummy in the 90's and listened to my brother. He was all, "no don't buy gold. that's probably the worst thing you could buy right now".
Never again, I swear...
I save a little each month in silver eagles. It's for 20 years from now. Dollar cost average.
@Kaiser Sousa
When silver will cost $1,500 Zimbabwe Federal Reserve Notes, 50 cents an ounce won't be that big of a loss! lol
Don't feel bad- i bought a couple hundred ounces in March at 22ish thinking it was taking off. I'm a dumb-ass. But at least i have my stacks.
forget about the price relative to our fiat currency...it's how many ounces you hold that matters.
During the GFC the usdx didn't bottom until the end of February 2008, but the equity sell-off started in October of 2007. I fully expect the usd to do the same thing this time. (sell-off initially as bonds drop in yield) Once everone is scared shitless then they'll pile into cash and pm's along with bonds.
The treasury buying started in July of 2007 ahead of the equity crash in October 2007, but the usd continued to sell-off until the end of February 2008.
Next QE will be $150/billion/month once the Federal Reserverealizes the economy is slipping back into a recession.
And at nearly 0% rates.
THe Federal Reserve can't raise rates. So QE will be even more next time.
Ever larger amounts of Keynesian stimulus to get small ever smaller benefits for the cheap money.
Yellen Barks on Rates, But Will Not Bite
https://www.youtube.com/watch?v=5OltIDWXJiw&list=PL9hNbo_Ztnr-WOVB_Gcttl...
Maybe eventually but they are going to let this tightening cycle bite to save face.
You have to wonder just why precious metals would be sold when people have this to contend with:
http://www.ft.com/intl/cms/s/0/aeb39060-3fb9-11e4-a381-00144feabdc0.html?siteedition=intl#axzz3E0fGYfbJ
Nobody wants gold. That fall last year scared a generation. Going to have to wait for their kids (20 years+) for another bull market.
No Volker no Reagan, don't think federal debt is 20% of GDP, and it doesn't sound like anyone is scared of buying. This is not 1980.
Only in America
Can't think past an ocean.
Buy when there's blood on the streets, as the old sage saying goes. The blood may be coagulating, but you buy when everyone is scared and sell when everyone is content.
The herd is easily spooked back in the opposite direction.
If all the wars escalate, or if there are bank runs, etc, fear will drive them back to gold. What are the chances?
Agree. 20 years of deflation for precious metals.
What happened to the storyline that everyone in China is standing in line at the local gold shop waiting for a chance to buy gold? KWN I think ran that and ZH too...
Tick tock tick tock..............
Could this have anything to do with the new Gold exchange?
According to this story the answer is no.
http://www.scmp.com/business/commodities/article/1597536/established-riv...
Then again................
---------------------------------------
Update: the link isn't working because it's getting truncated so here's what the last half of the URL looks like.
1597536/established-rivals-may-keep-shanghai-trade-zones-gold-exchange
--------------------------
I've just (for the first time) tried creating a tiny URL let's see if it works
http://tinyurl.com/lzk59op
--------------------------
It worked for me. The title of the story is Established rivals may keep Shanghai trade zone's gold exchange in checkOne Oz of silver is worth 2 boxes of reloaded Ammo.. I'll trade you either way :)
be brave and buy the (semingly) perpetual PM dip but don't forget that you need water, food, led and electricity to be livin like a (relative) fat cat in the future.
Notice how many times GOLD and SILVER are mentioned in the OLD and NEW testament.
Paper fiat currency not so much.
What "crime" got Jesus killed? Yeah, tipping over Bankster tables.
The Old World Order Satanists didn't like truthers any more than the NWO Satanists do now
Actually the 'cime' was blasphemy....
what Jesus did in the Temple with the money changers is one of the least commonly understood parts of the new testament
they exchanged currencies. you see, the Temple required sacrifice. but there was too little space for all sacrifices, so instead of buying let's say an ox, a sheep or a dove, pilgrims entering the first courtyard were nudged vs the money changer tables, where they could exchange Roman coins with Temple chits, and then donate the chits in the Temple
what Jesus's enemies wanted was to have Temple money circulating instead of Roman money, and insisted the Romans should accept them for taxes
note in a different part of the New Testament how Jesus answers a question about that issue
Top of the Blue Chips was predicted here in this afternoon's update...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
I'm pretty sure more than one person here said they'd see us back at 15.
They don't look so silly now.
A bit of a pop, then next stop 16.20?
$12 and the long term uptrend still intact.
No surprise here if it gets tested.
I still think when a bottom hits, it will be a very deep V.
My next buy prices set quite a while back were $15 & $1150 but I didn't expect it approaching them so soon
There may be more to this recent drop than meets the eye
http://www.youtube.com/watch?v=-K_cuMDyHFc
I live in Thailand on the beach in a bad ass condo for $600.00 month. The bubble in real estate is mind blowing here.
Buy and hold assets of enduring value is the plan.
Be greedy when everyone is fearful.
Start stacking 100oz bars to save space.
100 oz bars , hard to handle and trade
kilos a bit easier to deal with
kilos have character, different logos, added value,
fun to collect, gold bug silver bars are way cool..
will buy this drop all the way down
as a hedge against the dollars demise..
long silver 2008
During times of severe deflation expect cash (paper, not digital) to be scarce. Have enough cash to pay for food and other necessities when the ATMs and banks limit cash withdrawals and banks get their bail-ins.
Nail meet hammer.
If the markets are telling us deflation is ahead (seems to be), C-notes will be king.
I am going both cash and PM's, i suspect deflation then a panic by central bankers who come and use those 'tools' we keep on being told about, which is effectively a one trick pony, the printing press....
I was hoping I could taper off my purchases and start charting the boat accident locations but if the price of phyzz keeps dropping I guess I have to keep buying....
Paper cash (not digital), physical metals, food, water, and other necessities are good to have in a deflation before the central banks unleash a tidal wave of "liquidity."
Deflation makes debts grow in real terms. When governments see their real debt explode and banks face insolvency from bank runs, the printing presses will almost certainly go into overdrive.
I have two words for ya...Predator Drones! you'll never even see them coming. BHO
Price inflation is a function of the supply of money and of money substitutes (credit). A lot of people forget about the latter.
What most people think of money is really credit. When credit is all tapped out as it was in the Panic of 2008 but the monetary base grows rapidly, there can still be price deflation. We're in a delicate balance between deflation and inflation as reflected by the price of gold, oil, and other commodities.
How many consumer goods (e.g., gasoline and groceries) and services are bought on credit as opposed to cash? The majority.
When there is a rush to a safe haven, there is the initial transfer to cash (sell stocks or bonds for cash) and then onto metals or other currencies. But there is that initial spike in demand for cash. You can use this brief surge in demand to your advantage.
Because banks need to keep a certain amount of paper cash reserves, they may restrict withdrawals so you would not even be able to take advantage of low prices due to the temporary increased demand for the paper cash. This is why you need to hold some paper cash and inflation hedges like metals and hard assets, preferably productive hard assets.
Remember that it is not how much money you have that matters. It's how much stuff you can buy with that money that matters. This is true for debt as well. If you owe $1000 but then deflation strikes so that a widget that used to cost $1 is now $0.50, you owe twice as many widgets. The real debt in this case doubles even though the nominal debt doesn't change. This is why debtors get screwed in deflation.
Those debtors who have a printing press will use it to keep the real debt from getting out of control.
Now is a good time to test your investing discipline and wait for the weaker hands to give up good assets so that you could scoop them up at bargain prices.
It's a hands on thing. Kind of the way people dig them'selves a hole too deep to crawl out of, and yet they could never take their hands off the shovel.
Because the correlation between precious metals and other commodities is strong, investing in precious metals may not be all that advantageous.
Why?
If x = y, then you can buy y as it will be equal to x.
X in this case is gold.
Y in this case is a consumer good of enduring value and that has a long shelf life.
Precious metal dealers will ask for a premium on the spot price and selling the metal will mean a 28% collectibles tax on the "gain." The fees and taxes can be excessive.
On the other hand, if you buy razor blades or some other goods that have a long shelf life and are correlated 100% with gold, you can buy and hoard those. When you consume them or trade them, you won't need to pay a 28% collectibles tax on the "gain." There is also a larger market for consumer essentials.
USJPY miracuously rises 50 pip to back over 109 again to stop markets rolling over, Dow responds with a 50 points rise FTSEMIB with horrendous figures this moring rises >250 points and of course Nikkei is now back positive ...the market is saved once again.
"Dollar Slide" as far as I see DXY hit a 52 week high today!
Yep. Been asking why/how the dollar is going up fpr weeks now.No response.
84.7 this am.
"Precious Metal liquidations continue". In order to liquidate you have to have an asset to turn into cash or in other words liquidate. These so-called liquidations are nothing of the sort. These are banks or central banks selling short gold and silver that doesn't even exist in order to convince the market that PMs are no longer desirable and therefore encourage others to sell too! The weak hands have already sold. The strong hands know their game and hang on. This is a game the markets play every day and frankly, it's pissing me off. Whatever, this is not liquidation. Our time will come . . . and I suspect sooner rather than later!!!
or we're the bag holders for a few more months heck years.
gold steady....AUD 88.8 hehe
You all are so exuberant. I hope it is not irrational but it seems that every time a few indicators start to go south zh's get all bubbly. Please be correct this time.
Smoking hopium and waiting patiently,
NGS
Im wondering, what happened to Yin and Yan theory!
Im wondering, what happened to Yin and Yan theory!