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Gold Tops $1200 As China Cuts, Draghi Jawbones
First Mario Draghi made some strong statements speaking in Asia that "it is essential to bring back inflation to target and without delay," which sent EURUSD tumbling BUT did not spark moves in the S&P 500 (though Gold slipped). It was not until the PBOC cut rates (and sent AUD surging) that the US equity market perked up and started ripping... along with gold and as the morning progressed, gold has kept going as it is clear the Central Banks of the world have only one policy left... (no wonder the Dutch want their gold back)
It appears that while Draghi's comments impacted European stocks (DAX surged)...
it had negligible impact on US stocks... they were driven by AUDJPY after the PBOC cut
Charts:Bloomberg
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Good.
Freaky Friday, off to the races again.
Does anyone else think the Nov. 30th date of the Swiss gold referendum vote seems a little suspect?
I mean doesn’t the Cartel like to hammer the paper PM’s on American holidays when our market is closed?
So if they wanted to scare the Swiss voters from passing the law (Which we know they do) then wouldn’t our Thanksgiving holiday when the market is closed be the perfect opportunity for them to crush the PM’s right before the vote is to happen on the 30th?
If they do that to scare the Swiss voters then maybe we could see gold down near 1000 and silver down near the 14?s.
Any thoughts on this? I’m saving my dry powder up just in case this is how it plays out. Might be a sweet buying opportunity.
Seems like every day a central bank provides some sort of stimulus. I wonder what they all see but don't tell?
See see see Chinee economy is on so much fire of real growth and happy happy joy joy everybody got 3 laundry tickies, that Central Bank must cut rates to stimulate already overstimulated roaring happy economy. You wonder where I learn to speak Engrish, no? Ah.... I attend summer school at your Yoo See Hell Hey!
Interesting thought.
But...Cheaper gold makes it easier for SNB to purchase the rest of the 20% they'd be required to purchase...
But they don't want to do that under a new Swiss Constitutional amendment which forces them to hold at least 20% and eventually up to 40% phyzz gold. The law will restrict them from ever selling or leasing the gold and they will have to store it in Switzerland.
If they crush the price they can claim gold is too volatile and "not worth" enough to pass this law to try and scare the voters.
I really don't think it's going to pass anyway...I think even if they have enough votes there will be some kind of voter fraud when they count the votes up.
I'm just speculating that they will use the holiday with the American markets closed to crush the prices. And if they do we all should be waiting ready to fire some dry powder to grab more cheap phyzz.
Dry Powder = Silver Bullets ;-)
Debt spirals...
Vortex is the cool word now and in this case quite applicable.
Looks like now the Dutch are repatriating their gold
https://www.bullionstar.com/blog/koos-jansen/the-netherlands-has-repatri...
The first few out the door will get most of it back.
The rest will be laughed at by the King Barry.
The Dutch were originally pulling back their gold for the inevitable collapse of the Euro. Things got so bad in 2012 that they printed up Guilders just in case.
Germany supposedly was ready to reintroduce Deutsche marks if the Euro collapsed around the same time.
The run on US-domiciled gold today probably has a lot more to do with the USD losing it's status as a global reserve currency than Euro troubles (not that there isn't a risk of both).
Japan is the first domino. If the Yen goes into a tailspin, everybody is totally screwed. It doesn't matter if the Yen does NOT collapse first - something will.
Or King Hilary.
Repayment for those bond purchases a while back remember?
"it is clear the Central Banks of the world have only one policy left..."
THE SAME POLICY THEY'VE ALWAYS HAD: FUCK THE BOTTOM 90%
Quick, somebody drop a billion in contracts before the market opens so we can get best pricing.
And when ZIRP/QE no longer works the real fun begins!...
It's Europe's turn for the next 9/11 style false flag.
You know George Soros and the Langley/Mossad contingent need "the biggest one" in Poland, Moldova, or Germany to get the show started?...
Wonder how successful that campaign will be when President Lance Link marshals the forces at home to fight the last war by putting V. Putin, Dmitry Rogozin, Sergey Shoygu on a "deck of cards"?...
Lance Link and his army of speedy Gonzalez's
I know I shouldn't but I couldn't help placing DJI shorts just now, what with the option expiry and huge gap up at the open, plus overbought, blah blah blah....
In a normal world, this is a sensible trade right?
Its a good time to start pricing in a full recovery in Europe,Japan and China... Ho Ho Ho
If gold were still $1750 and silver above $30, you would feel better about your stack, but you would have likely not bought or sold any. Now, with the massive beat down, you may have used your fiat to increase your stack. When the time comes for you to 'need' your stack, the beat down will actually have been a good thing.
Great point.
You can accumulate way moar at these prices.
But unlike paper, 1's or 0's, PMs reamin, well, PMs.
At a point, they reassert themselves.
To add further, those who bought into the hysteria and hype which led to the run up to the peaks, bought into the whirlwind and have suffered accordingly. I have always subscribed to the notion of PMs as a hedge and nothing more. If you look at PMs as an investment, they don't make much sense. If however you're looking to protect your gains from trading or business, they are the perfect vehicle and time has proven this concept throughout history.
Just my .02
DaddyO
I want my gold.
Jawboning really has become instrumental in all monetary policies, hasn't it? When the day comes that people once more will have to put their money where their mouth is, the day that fundamentals matter again, that fatidic day of sound money and of not being able to want, promise or forecast without backing up your wishes, promises or forecasts with sound arguments and facts - and that day will come - it will truly be a spectacle to behold, one for the history books.
Gold Dick Headz!
Why have only US leaders been targeted for assassination? Time for some Euro patsies to be found and developed?
With the exception of Reagan, those US presidents that have been assassinated or had attempts on them, have all tried to Nationalise the dollar.
President Jackson (the only American President to actually pay off the National Debt) ended the Second Bank of the United States, there was an attempted assassination which failed when both pistols used by the assassin, Richard Lawrence, failed to fire.
When this was first proposed, read what the British Press said at the time, bearigng in mind BoE own Fed Res;
"If this mischievous financial policy, which has its origin in North America, becomes entrenched, then that Government will issue it’s own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on it’s commerce. It will become prosperous to a degree which is without precedent in the history of the world. The brains, and wealth of all countries will migrate to North America. That country must be destroyed or it will destroy every monarchy on the globe". -- The London Times responding to Lincoln's decision to issue government Greenbacks to finance the Civil War, rather than agree to private banker's loans at 30% interest.
There was even rumour that Kennedy had signed executive order 111110, to nationalise the dollar, which is why he was assassinated?
The Chinese are trying to devalue the Yuan with this move so they stay competitive with the falling Yen. It's a full fledged currency war and will end in misery for some. Right now it just makes US asset holders even richerer. Winning!
Chasing shiney red balls over and over........right off the cliff
Did you guys see this thing :
http://finviz.com/forex_charts.ashx?t=EURUSD&tf=h1
http://finviz.com/futures_charts.ashx?t=GC&p=h1
On 7th, 14th at exactly the same time GOLD and the $$ go in the opposite direction !!!! The volume in both cases and both graphs surged
And today 21st at exactly the same time they both go UP ?! What changed ?
(Euro down, means $$ up on the graphs, if u get confused )
If you have longer term hour-graph may be it happens over longer period !!?
what does it mean ?
Bottom price indicator ! if that is true and if they smack the GLD on 30th, that will probably be the last time to buy cheap ?!
What do you think ?
I'm surprised the SNB hasn't ordered a hit on Draghi yet...
aaaaand it's gone! $1,200.. it's gone sir.
No surprise here, Gold is on a multi-month rise...
http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-m...