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Carnage In Currency-Land - Dollar Dump Sparks Stock Slump
Well that escalated quickly...
The big story of the day - as long as you don't watch CNBC - was the bloodbath in currencies. China's devaluation to 4 year lows overnight...
Appears to have acccelerated a shift away from the USDollar across all the majors... (biggest USD drop ex-ECB since the post-China devaluation collapse) - the only thing saving the USD modestly was weakness in commodity currencies (AUD and CAD)...
Slamming the USD to 6-week lows... with the biggest 5-day drop since China devalued
Some context for that move are evident in the world's most used carry currency - USDJPY crashed...
And in EURUSD, which had its biggest (ex ECB) jump since the China devaluation....
In case you were wondering what "fundamentals" were weighing on stocks...
Focusing on stocks, futures provides the cleearest view of the last few days/weeks...
On the day, it was extremely volatile... with stocks ending up back to pre-payrolls levels...
Nasdaq was the worst on the day... Dow was saved by DuPont which added 50 points...
S&P broke below its 50- and 200-DMA...
As FANGs faded...
With Trannies worst on the week...
Leaving all the major indices back in the red for 2015 (apart from Nasdaq)...
Since The ECB let the world down (and implicitly left The Fed set to remove up to $800 bn of liquidity next week)... Gold and EUR are the winners, stocks and Crude the losers...
Stocks played nicely with crude all day...
What happens next?
Treasury yields were mixed today with the short-end rallying, long-end flat (dragging yields below pre-ECB levels...
Commodities ignored the USD dump as once again the 8ET to 12ET period saw dramatic volatility across all...
The post-DOE data ramp perfectly tagged $39 stops and then dumped back below $37 finding support there again...
Charts: Bloomberg
Bonus Chart: What happens next?
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Paper burns, silver holds value.
Same as it ever was.
Boris is now so poor, no graph. Cannot afford internet service upgrade to view.
The IMF debt forgiveness for Ukraine is likely to have huge implications for the trustworthyness of the western markets and is likely to have a blowback effect against all currencies that are part of the IMF as any countries who stand to lose money like Russia did adjust accordingly. I think that has something to do with the currency markets.
And the billions of US Bonds China has been dumping look like evidence.
Currencies, commodities, anything not tied down effectively looks like this:
"puking gnome" https://www.youtube.com/watch?v=ZJrXvuVi9ww
Tyler needs to update his puking clown with one of this guy.
I am bullish USD vs the others. Deflation will strengthen the dollar.
The fiat dollar is as good as dead.
Where is the chart of them slamming the Precious in unison with the dollar dive?
In the libtards neighbourhood it looks like this:
-- the new foodstamps standard --
http://goo.gl/uy3kKE
THIS is a totally serious question.
Common knowledge regarding the FED but IRS?
"The Internal Revenue Service is considered to be a Bureau of the Department of the Treasury; however, like the Federal Reserve, it is not part of the Federal Government (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I.; Public Law 94-564; Senate Report 94-1148, pg. 5967; Reorganization Plan No. 26; Public Law 102-391), and in fact was incorporated in Delaware in 1933. It is pointed out that all official Federal Government mail is sent postage-free because of the franking privilege, however, the IRS has to pay their own postage, which indicates that they are not a government entity.
They are in fact a collection agency for the Federal Reserve, because they do not collect any taxes for the U.S. Treasury. All funds collected are turned over to the Federal Reserve. If you have ever sent a check to the IRS, you will find that it was endorsed over to the Federal Reserve. The Federal Reserve, in turn, deposits the money with the International Monetary Fund, an agency of the United Nations (Black’s Law Dictionary, 6th edition, pg. 816), where it is filtered down to the International Development Association (see Treasury Delegation Order No. 91), which is part of the “International Bank for Reconstruction and Development”, commonly known as the World Bank."
Also reading IRS is incorporated in Puerto Rico?????
They're the policing arm.
CTM had an ex-sherrif on last night that took Anita Whitney's work to another level.
The story was pretty fascinating as to how David beat Goliath, and it all started with the attempted illegal seizure of his mother's property.
He went in to the perverted language of the law that most attorney's don't have a clue & just how to fight back. If they're speaking (defined Greek), you have to learn it to fight back.
He beat them on ad valorem & hasn't paid the parasite's since the mid 90's.
While none of this helped Irwin Schiff, it's well worth the listen.
Here's a few notes I sent to some buds.
Statutes written with intent to deceive. Presumptive.Defined legal definition created, legal precedent, industry/activity/occupation standard usage will NEVER use common english dictionary usage.
http://www.fraudstoppers.org/transportation-stop-action-script/
http://www.ruleoflawradio.com/
Eddie Craig, good ol' country boy from TX has made a judge suck it. Here's a book he recommended.
http://taxrevolt.us/about.php
Thank you for the links. I will read them.
I am not USA taxayer so my interest is more akin to going down the rabbit hole for information.
Canada has a lawsuit that is winding it's way through courts here. Challenging Bank Of Canada. If law is law they will prevail. But Gov. of Canada (and manipulators) are blocking every step. COMER.
Just a swag, but from what I've uncovered from Santos Bonacci in AU, a Canuke named Clifford, the fellow in the above link, & in GB, all these alleged legal systems pretty much work the same. Maritime & Commerce Law.
Bench in Latin = Banco...ChaChing, row harder slave.
The whole system is fraudulent & we literally pay for our enslavement by the intentional perversion of language or legalese.
It all starts with the fictitious strawman on the birth certificate which is presumptive in court. Male/Female on your BC/DL...that applies to animals in which we are viewed. You must remove the presumptive by declaring up front in any proceeding that you are a flesh & blood, masculine/feminine. Otherwise your are at their mercy as the fictitious strawman entity.
http://anticorruptionsociety.com/
Start with the bank's charter.
Yes the Strawman identity is rather well known, and ridiculed, discredited, Birth certificate is where it starts and every single "contract" after is written in capitals. Look at ultility bills, credit cards, bank statements, USE of all CAPs is not a decision ruled by some sense of graphic arts.
I am aware of this and have countered the BCHydro sellout to "stupid meters" with it. Sent all their various paperworks back declaring my right to be a human, And refusing to contract to the Smart Grid. Have yet to get one reply over 5 years.....but still have my reliable analog meter with no built-in surveillance.
So I am somewhat familar with the use of Maritime Law and Captial Letters that bind a human being at birth.
Lucky you with the analog.
Fighting it here with help from Jerry Flynn.
Angle using now is their charter does not include a telecom device.
It's really stirring up a hornets nest.
And as an aside to this issue; I well aware of gangs of lawyers. Sued my local city council. First they laughed. Then they called me nuts. Then they called me crazy. Then the sneered. Local little guy court ruled that I had every right to proceed. Next thing was I had 3 different over-priced law firms coming at me.
I called it fraud. 3 law firms @ say $250/hr. each came after my claim. Idiots. Strategy is to bury in paperwork and bafflegab that does nothing to clarify any issue.
You can still see it - just look down, and to the right. No, *past* the sock. It's that warp in the linoleum.
no problem Boris. Use crayons and make your own. thats what i do.
Choke sympathizes with Boris. Choke can afford partial internet service, but only "0"s, no "1"s.
Crowd funding Boris. I will throw in a buck or 2 to keep your sense of humour alive.
yay, barfing clown...so much better than barfing unicorn
difibulator please, the patient is flatlining AGAIN...
My advice to Yellen: Raise rates, while announcing QE4...I mean fuck it...why not, whatever you say is gold no matter if it's asinine bullshit.
Now that is double speak.
My advice to yellen: raise rates overnight to 5%, and reset gold at $15 000
tell everyone to use whatever gold they have even if its selling family heirlooms to pay down debt with forward guidance to have rates at 10% within a year
Bonus Chart: What happens next?
Head and shoulders fingers on toes
Pricing in a no-go on the assured interest rate hike next week?
Here's a shocker ..... .gov finally catches a whiff of rigging in the $9T agency bond market ... where they been the last hundred years ?
http://www.bloomberg.com/news/articles/2015-12-09/u-s-said-to-probe-possible-rigging-in-agency-bond-market
I guess I'm a little ignorant of the FX market. Is China's devaluation because they've dumped a lot more of the United States Treasuries? They do have a lot of the gold to keep buying after all and a stock market to keep propping. I guess if United States dollar continues to devalue, a rate hike should take care of that. Until the system crashes anyway!
China is selling off UST's in order to prop it's domestic stocks; they seem to be trying to keep it above 3500 on the SHCOMP and appear to be actively intervening.
http://www.bloomberg.com/quote/SHCOMP:IND
Given their slowdown, this is likely to continue indefinitely.
Another factor is that they're letting their currency float in a wider band in order to ensure their impending SDR inclusion, and they're trying to marry up the onshore/offshore rates as closely as possible.
Yet another factor is general financial outflows that is made worse by the weakening, but net/net is made better by a supported stock market (ie., keeps the financial wealth domestic), though that is debatable (ex., shorting is basically illegal).
"China is selling off UST's in order to prop it's domestic stocks"
meaning, the devaluation is so that they can export more manufactured goods, the numbers of which should support domestic stocks
Well, yes, all those charts are accurate, but of interest to day-traders only. I mean no disrespect to this site, and regard ZH as far and away the best commentator around on economics and politics... but... intraday ups and downs are scarcely worth mentioning. Do we have any day-traders among our subscribers?
Robotrader
I used to...
I trade gold coins from right pocket to my left pocket. And silver from my left pocket to my right. Daily. And twice on Saturday.
You need some more pockets. I suggest sewing some on, and filling them immediately.
You have pockets in your scuba gear ?
Gold should have gone well north on this huge FX move...but nothing
The riddle: "When is gold not 'as good as gold?'"
A - When it is a paper promise to pay in shiny
people who buy gold on news like this dont source it from lbma or comex, so no, it doesnt effect price
Every time the dollar "dumps", I am conditioned to go look at gold prices, yet they don't change, which makes me wonder if the phys I am buying from Apmex is FAKE? (No reports of counterfeit PMs from APMEX are there?)
The manipulation going on is absolutely mind boggling.
Of course they're not going to play nice, they're going to fight with every last breath before gold can rise. Anyway you're talking about paper gold, there is yoooge demand for physical which should tell you where the prices are going to go.
They should already be on their way now. But still nothing.
People who want higher prices, IN FIATSKIS, for Gold are those seeking to SELL.
First...Gold is NOT an investment.
Next...Fiatskis are NOT MONEY.
Finally Gold IS MONEY.
Stop thinking about Gold in terms of US Dollars.
Or please sell all you have into the advance and get out for good. It is damned OBVIOUS that you are placing YOUR FAITH and CONFIDENCE into a piece of paper ISSUED FROM A FRAUDULENT, CORRUPTED and VILE INSTITUTION.
From the corruption you will only stand to reap corruption.
From the fraudulent you will only stand to reap fraud.
That which is good and wholesome does not produce that which is fraudulent and corrupt.
Fruit Trees do not produce grains of wheat anymore than stalks of wheat produce apples, oranges, or bananas.
What you sow is that which you wil reap. God Almighty will not be mocked and you are upsetting the balance of Nature to believe otherwise. You are corrupted when you adopt those views.
The paper issued, FIATSKIS, from a FRAUDULENT and CORRUPTED INSTITUTION are both FRAUDULENT and CORRUPTED...and DOOMED TO FAIL. Like bears out like.
And you can downarrow this all that you want. It will not change the truth.
And I will be laughing at you when you demand delivery of Oranges from a Wheat Farmer. Because that is just like equating that which is good, that which is wholesome, Gold, to that which is filth, corrupted and which is issued under fraudulant pretense, the US Dollar.
It is really that irrational.
Gold is a metal with very little usefulness at the current price. It is not money. It is a metal.
Yes, fiatskis are just paper that has been dictated a price, like the gold metal has been dictated a price.
Gramps: Tall Tom couldn't have explained it any more eloquently and yet his words went right over your head.
Sounds like Shakespere
I've bought from and sold back to Apmex many times. They've always been happy to take back what they sold me. Never took it for independent assay, though.
Sold back ? are you nutts.
no. Au/Ag ratio is a friggen yo-yo. If you wanna play the fluctuations but stay long in precious metals, you can regularly trade one for the other.
Right now, Au/Ag is about 20% above the typical baseline, so selling Apmex back my gold and buying (big heavy boxes full) silver makes sense.
I sold a LOT of silver back at $45 or so........they took it all back happily, bricks and bricks of it. Bought kruggerands with it all.
if all you want to do is trade, buy the paper, but accumulate precious.
So all the real news sends the S&P down and all the things that send it back up are hot air coming from central bank bureaucrats?
gold down on stronger dollar, gold down on weaker dollar.....all sounds like a normal rigged day to me
DJ, S&P, NASDAQ all had the SAME chart.
#thisshitcrazyfuckedup
Well - sorry - I humbly apologize. I did watch CNBC but they were saying such positive things, I couldn't stop watching.
as long as you didn't masturbate you are okay.
I thought that was what I was supposed to do when they declared "self help".
if the fed raises rates the market tanks and you buy the big fucking dip(btbfd) when the carnage is over. if the fed doesn't raise rates you short the spike and ride that wave to the beach. that's the only good thing about the market now. no matter what the fed does the sp500 is going down.
DAX: A Huge Head and Shoulders pattern is already forming
http://goldenopportunitytrading.blogspot.com
Wheres the bitcoin chart? Only funny munny charts. Bitcoins up at $410 of US funny munny right now, the damn thing just won't die like so many knowledgeable folk here say. Maybe it'll die next year.
I blame the IMF. If the IMF is dollar dominant, which it is, and the IMF chooses which debt it will support and which it will not support, then the IMF and the US dollar loses credibility.
Sweet. Bonus chart.
Bet Greece will love that, they lose their contry to the money changers but Uke marches on because they want war with Russia.
Zero confidence in the monetary system now.
Canada to neg interest rates (like fuck the fed will hike), soon to be followed by cashless society and total monetary slavery to Jews.
OK, Tyler-what became of the FUKU radiation story that was at the top of this page-it had Obama saying "We never dreamed this much radioactiviy would reach these shores"-Did ABC make you pull it?
Whats the story on gold miners, why these massive losses in value, they have fallen 80% in just a couple of years?
"Blood On The Rooftops"
Dark and grey, an English film, the Wednesday Playby Genesis
We always watch the Queen on Christmas Day
Won't you stay?
Though your eyes see shipwrecked sailors you're still dry
The outlook's fine though Wales might have some rain
Saved again.
Let's skip the news boy (I'll make some tea)
The Arabs and the Jews boy (too much for me)
They get me confused boy (puts me off to sleep)
And the thing I hate - Oh Lord!
Is staying up late, to watch some debate, on some nation's fate.
Hypnotised by Batman, Tarzan, still surprised!
You've won the West in time to be our guest
Name your prize!
Drop of wine, a glass of beer dear what's the time?
The grime on the Tyne is mine all mine all mine
Five past nine.
Blood on the rooftops - Venice in the Spring
Streets of San Francisco - a word from Peking
The trouble was started - by a young Errol Flynn
Better in my day - Oh Lord!
For when we got bored, we'd have a world war, happy but poor
So let's skip the news boy (I'll go make that tea)
Blood on the rooftops (too much for me)
When old Mother Goose stops - they're out for 23
Then the rain at Lords stopped play
Seems Helen of Troy has found a new face again.
https://enronnext101.wordpress.com/
Three Truths
r