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Gold And Silver Update: This Is What A Global Fiat Bailout Looks Like On One Chart
Presented without comment - except to say the 11% rise in Silver since Friday (and 16.7% rise since last Thursday's lows) is the highest 4-day move since 7/18/11 and is over 2 standard deviations on a long-run mean.
Gold is up 8.5% from the Thursday lows of last week and the USD (measured by DXY) is 1.6% weaker this week.
Chart: Bloomberg
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Silver is on a tear, it is REAL money.
"A choice must be made between the natural stability of gold and the honesty and intelligence of the members of government,....I advise you, as long as the capitalist system lasts, vote for gold." - George Benard Shaw.
Too bad Haines isn't alive, he'd be calling this another bubble.
We'll be at $100+ WTI oil tommorrow.
Then it gets interesting.
gold actually down in AUD and BRL terms....dollar is getting fucking SMOKED today.
Where are the deflationists?
Busy selling assets.
In quest of a meatball?
She's got something up her sleeve.
Let me guess- "it only costs $5 to pull out of the ground"
Sorry Trav, I still can't let that one go
No kidding? I thought it was $6.
Must be deflation or something.
? I wasn't the one who said that.
Mathman, AKA Methman gets honours for that. Trav's more of a eugenics guy.
I suspect that, one by one, they are jumping in despair off the edge of their flat earth, as their laughable theories and/or pro-Establishment disinformation is discredited again and again by real-world events.
"Deflation", in the contemporary fiat monetary world, is nothing but a threat in search of a reality.
Hey akak,
Come on over to Turd's site sometime. You would fit in nicely around there.
Hey BoP, nice to see you again! Sorry meeting up in Hawaii didn't work out earlier this year (never made it to Maui, just the Big Island once again).
I have considered joining Turd's community, just not sure if I have the requisite technical background to fit in there. Nothing against his site at all, I'm just a bit intimidated by many of the posts, and posters, there (as I was initially here on ZH almost two years ago ---- today, to be honest, not so much).
There a fellow over there named ivars talking up his deflation theory and creating all kinds of chaos on the main board. I swear he was here at ZH last spring and got run off. Do you remember him?
Peace and Aloha to you...
You know, that name does ring a bell, but it may be only because I have in fact seen his posts over on Turd's site recently --- not sure if I remember him from here on ZeroHedge. Can't say that I have closely followed his posts on TF's Metals Report, but doesn't he predict the eventual hyperinflation and/or collapse of the US dollar as well? That would seem to not fit in with the usual deflationists' outlook. His posts, to the extent that I read them, did not seem particularly trollish, just very TA-obsessed if anything.
I am not saying that one cannot make the deflationary argument in good faith, but my suspicions are that many of those who do try to make that case, both here and elsewhere, are disinformation agents for TPTB, trying to steer the herd from the REAL threat (i.e., guarantee) of fiat currency depreciation and collapse. But those who are making the deflationary argument in all honesty and in good faith are, in my estimation, woefully misguided, and clearly and demonstrably ignorant of monetary history and the lessons that it teaches about overindebted governments and their fiat currencies.
Pretty sure it is the same person.
http://www.zerohedge.com/users/ivars
http://www.zerohedge.com/news/guest-post-paradox-thrift-%E2%80%94-debunked#comment-1803938
http://www.zerohedge.com/news/relentless-equity-outflows-continue-ytd-mutual-funds-redemptions-surpass-2010-total-despite-bro#comment-1814368
http://www.zerohedge.com/news/ray-dalio-whether-current-hopeless-mob-rule-deleveraging-can-lead-ascent-another-hitler#comment-1807401
http://www.zerohedge.com/contributed/coming-new-recession-game-plan#comment-1807586
http://www.zerohedge.com/contributed/chart-day-slippery-slope-sliver#comment-1802527
http://www.zerohedge.com/news/finaler-countdown#comment-1736562
I know he's here now, I just thought he was here last spring as well. I can't find any history of him back then, but I remember that name from before.
Red for requesting Haines resurrection, Green for getting his assinine perspective right.
He got to take all his fiat with him......St Peter looks at him and sez.....you brought paper with you?
Let's show a little respect for the deceased. Mark Haynes was a fine shill, a remarkably effective round-heeled whore for the MSM, a consummate bully and sell-side cheerleader. We will not see his like again. Okay, hats on.
Dorothy Parker (Jewess) upon hearing that Cal Coolidge had died: "How could they tell?".
THE COMMERCIAL POSITIONS NEVER LIE
I wondered why the commercials added over 63,000 short positions against the dollar over the past month. It was the same reason why they liquidated enough commerical shorts to have the lowest NET SHORT POSITION in silver going back to 2003. We are just beginning to see some fireworks in GOLD and SILVER.
The Commercials knew this was coming and the big bullion banks prepared for the US DOLLAR slaughter as well as the big move up in commodities, gold and silver. The question we must ask, will this trend continue? Or will we have some sanity back in the markets after lunch? Many times in the past when there is a huge run up like this, during the latter part of the day we see a downtrend.
In reality, it doesn't matter. ENRON, BEAR STEARNS, LEHMAN BROTHERS and a whole slew of others saw their stock price plummet in the end. Those who were using Technical Analysis to show how good of a stock these were when they were pushing to new highs before the PONZI FUEL ran out, failed miserably. The opposite will be true for GOLD and SILVER.
The big move higher towards $50 this year in silver was not a SPIKE or a BUBBLE but a move towards its true value. Both gold and silver have been HELD LOWER like a balloon 100 feet below the water line. Enron, Bear and Lehman were kept higher by the TA NOOSE, which finally killed the stock in the end.
So here we have to wait and be patient for the balloon to be released pushing the price of silver towards $100-$200. When we finally see this sort of price in silver those NITWITS and GADFLIES who have been calling for gold or silver in a bubble will get more coverage on CNBC and FOX business.
Good post. I think we should start charting gold and silver in terms of how many oz one $1 FRN can purchase. So instead of a chart headed upward toward infinity (which must necessarily break $50 to acheive) we would look at a chart showing the deminishing purchasing power of the USD. It would be slumping downward. After all, that is truly what we are talking about here. The dollar is dying a slow death. It's air is being let out of its bubble, not a bubble in silver being filled up with air.
Here you go:major currencies versus gold.
Thanks for that.
This is actually how I track a goodly-sized chunk of my personal finances, converting things to/from miligrams of gold or silver.
For reference, 17.83 mg of gold buys a dollar today, and 884 mg of silver does the same.
Ten years ago, it took 89 mg of gold and 6220 mg of silver.
So yes, dollars are much cheaper to buy today.
"Both gold and silver have been HELD LOWER like a balloon 100 feet below the water line"
Like that analogy....when you are down 100 feet and exhale a small bubble it begins expanding and accelerating as it races to the surface...as it ascends and the surrounding pressure drops it gets bigger meaning that the lifting forces become greater as its displacement grows. Anyone who has used a lift bag knows what I mean....it is impressive....like the visualization.
To boot, the lift bag is full of helium.
Silver $48
Before December?
The IMF = The Dollar. Who's gonna bail out Europe?
Why Super Ben of course.
What, you don't believe in Sovereign Man?
"Normally, I'm not a praying man, but if you're up there somewhere, PLEASE save me, Superman!" -- Homer Simpson
:>D
When Black Friday comes.....
Steely Dan?
I'll collect everything I'm owed,
And before my friends find out I'll be on the road
Oh YEAH!!!
I do not think silver is on a tear yet. It just has no resistence to the low forties, as the last take down was a drive by take down.
A gap down for no reason will at some point lead to a gap back up. Silver needs to fill the gap to 42 where it had steady buying al the way up.
It was a fake takedown, just as in late April, and that leads to a gap back up to reality. We will see what silver does when it goes back to 42 range.. I say a gap up to 50.
Get your physical now. Solving debt with more debt is a fool's game. Thankfully there is a way out. Physical silver and gold. I just can't wait to see what happens when China's property market bubble finally crashes. As you all know, property prices declined for the first time in recent memory last month.
FYI - 1 oz PAMP gold bars at $24 over spot at Gainesville Coins.
http://www.gainesvillecoins.com/products/156401/1-oz-pamp-suisse-gold-ba...
this market is f**ked.
Bond market, you mean, of course...
Only auto or sovereign nations.....the rest is all good.....
Gold too!
Kings money.
Just about everything other than bonds and the dollar is going through the roof.
WHO LEAKED THE NEWS OF QE3 COMING IMMINENTLY??
EUR/CHF is down too.
Something is up.
Leaked? Did you miss the M1 and M2 supply stats?
Then again, i don't know what to make of this recent move. After all, its all paper prices, and we know who are the major paper dealers..... prices crash out of nowhere, prices spike out of nowhere..... *shrugs*
The monetary base data have been out there for quite a while now, I can't believe that people only started looking at them today.
Well, then there are 3 options left:
1. It actually is a reaction to a leaked printing plan (you know who gets the info first - umm, the same who own the printing presses)
2. Short covering rally ...... perhaps precisely the shorts that a few weeks ago helped to crash prices?
3. Throw your hands in the air and just call "This market is fucked!"
I would love to see the results of voting on this one.
I am torn between #1 and #3, more leaning to #3.
Maybe its just that everything is relative. If Europe is seen to be getting its fiscal shit together, attention will revert to the disaster that is the American debt. The dollar looks pretty tattered if the Euro is saved.
Given that every market everywhere is going up, I doubt that short covering is the answer. Unless more or less everyone was short more or less everything until recently.
In truth, I doubt that Ben is going to surprise us all with a sudden massive LSAP programme either. Although it is often pointed out that it would need to be a 'Surprise' to have much real effect.
I think most likely this is good old 'Irrational Exhuberance' turbocharged by mindless Momo driven Algo trading.
m3 is the story line
sorry for private-eye's only
....and the answer is: all of the above
How 'bout investors, funds, and CB's are sensing Europe is an insoluble clusterfuck and maybe it's time to hedge with AU and AG. 1-2% participation rate from pension funds, for example, puts PMs on the moon.
Sorry, but this guy typing this post, does not believe anymore, that paper prices *for now* move based on what is sane, or fundamentals.
He also doesn't believe, that CBs and investors with a clue, buy GLD. They buy physical, or pay someone to store physical for them, or they buy PHYS.... but not GLD. GLD is for gambling and propaganda, not for investing.... and it is GLD prices you see in those stats, nothing else.
The most optimistic guess i would hazard, is that GLD prices are just moving up in lockstep up with other stuff.... but this recent move, IMO is NOT anything that has to do with investing in gold (that does not mean, that demand in gold therefore is low - it quite probably is high anyways... but not because of what you see in the above stats).
So, it is not demand in gold that i'm questioning - i'm questioning that the above stats have anything at all to do with the real demand.
I doubt a formal announcement of more QE now... Oil would move up even faster along with all other commodities. Once oil goes above 90 bucks US economy slows waaaay down, or slows faster, or slows more or however one prefers.
Looks like a lot of saps have bought into the 'European Rescue' working and figure all is well in Euroland. Attention turned to US economy, banks, Dollar.
Transitory!
Print Ben Print!
Got PMs?
Shine metal shine!!!!!
nice avatar, FTP.
At this rate, the USDX will hit my target of 74 by tonight. Anyone seen Graham Summers?
Shit man, I thought it was bottoming yesterday then we get this whopping jump in the Euro !
But you know what, I’m not disposing of my dollars yet not until Bernanke starts printing again.
You hear that Benny (and whoever is above you), you want the dollar to be weak without doing your job ?
Fuck you, you can’t squeeze me I’m not short the Euro, I don’t participate in your shit markets, I only got cash and Gold,
Have a look see at EUR/JPY. Noda is shitting his pants about now.
Poor Japan.
Only cash and Gold? You should diversify--buy some silver.
I understand that Pt and Pd also have some intrinsic value -- oh, and Pb & Cu!
coincidentally i just saw him at my local Target , loading up on underwear
Silver is hitting the 40 dma and the downtrend line here (dec contract), would expect some sort of pullback.
Greek Banks are in the mist of a run as people exchange fiat cash for physical Gold and Silver. You can toss your paper charts in the fireplace for heat.
Are they? They usually go for the mattress.
Silver pullback? Maybe, Mike2756, but did you notice how it sliced through that serious resistance at 33.65-33.85? That's an important feature of the price action. I'd say we are not in Kansas anymore, but one can certainly expect volatility. In other words, 40-day moving average is somewhat arbitrary in this climate.
Looks like America has somehow now moved back into first place in the contradictory race to the bottom
Schiff's been saying for a while that he thinks the Dollar will die before the Euro.
I like Peter Schiff, but I think that analysis is simplistic and erroneous. Both the dollar and the euro are for all practical purposes so closely intertwined in this insane debt-ridden world that the death of one is going to mean the almost automatic death of the other. Think of two mountain climbers roped together --- does it REALLY matter which one is lower on the rope, when both of them are falling together?
The Thelma dollar and the Louise euro are both going for the same ride (with the yen and the pound locked in the trunk).
another classic from AKAK
Margin hikes to 100% for an orderly market and transfer to reality, please.
Yep, then I buy more. Perhaps I should wait and see how that phone call went with China first.
When will the CME take margins to 100%? Bwahhhhhhhhhhhhh!
http://market-ticker.org/akcs-www?post=196636
GENERAL STRIKE NOVEMBER 2nd
Now we're talking.
I'm getting word (via Twitter) that the Oakland branch of "Occupy Wall Street" has finally done what I recommended as the only course of peaceful action that will matter:
They have called for a GENERAL STRIKE November 2nd.
Why will a General Strike work?
Simple: It attacks the government in a lawful, peaceful manner in the one way they cannot counteract: It cuts off their funding!
You can't tax what doesn't happen, basically. This is the people's way to peacefully withdraw consent to being governed.
You buy nothing, you perform no work, you do nothing that is taxable.
The implicit threat is that you cut the legs out from under the government's ability to fund itself.
So here's the deal folks: Do you have a pair of clankers or are you still sporting mouse-sized nerfs?
Yeah, I know, participating in a General Strike means personal sacrifice. Heh, that's how it is when you make choices. There are costs. Nothing's free, including doing nothing. Four years of constructive consent has not brought you continued prosperity. It has not brought the economy out of the slump and employment has not returned. It has done nothing for you, and everything for the scammers and fraudusters on Wall Street and in DC.
Four years into this and there's been no end to the fraud. No admission of what happened and who was responsible. No change. No honesty. No truth. And no prosecutions of any materiality. Yeah, I know, they are going after one former board member now. That's nice.
Freedom ain't free.
That is like holding your breath to get rid of worms.
That sounds like the kind of crap the unions, communists, nazis and anarchists would pull over in Europe. We're not them, nor do we wish to be. Have fun with your day off.
Enjoy your weekend, brought to you by unions you fucking prick.
What do unions give the rest of us? A chance to pay jacked up prices for overpriced (price fixed) labor? GM assembly workers were getting paid $120000+ in total compensation. That's for jobs approximately half a billion Chinese workers are capable of doing. Or did you mean the rape-the-taxpayer-and-future-generations govt. union 'workers'? They (almost to a man) know they don't work as hard as private sector employees, but make much more, thanks to collusion with their partners in government. They KNOW they've been raping the rest of us for years!
What an utter load of ignorant piffle.
4 nice boogey men you have assembled there (both in your mind and in your post). You know they have been placed there (in your mind) for you as a means of control, right?
what dude. opting out for a day is a characteristic of union/communist/nazi/anarchist europeans? hmm i like their (curuiosly irreconcilable) style.
who is 'we' that you represent.
day off what? consumption? important corporate job? ... how silly ... no 'we' must consume and slave thoughtlessly every day. this is the established norm and to do otherwise would be radical and also ignorant. could you imagine a reality that lacked daily consumption and wage earning, even if only for a day? absurd, perish the thought.
you sound like a scared animal blurting out thoughtless propoganda. i sympathize with you but think for yourself. it's surreal - they're not real - put them in their places
Remember not to eat. Because any food you buy before the strike is still taxed.
they don't tax food in california
So you're taking it a step further and calling for a national hunger strike?
Now that would attract some attention... and, should the strike action last for a few weeks, improve the overall physical condition of most of the US.
Hey, you're in good co. Lots of cultures see fasting as a path to enlightenment; and it sure looks like you could use a good dose.
i assume you are joking but good idea -- i am in. a good opportunity contemplate and practice discipline.
"...you perform no work, you do nothing that is taxable"
....so we do the Greek thing??? Apparently it has worked for them.....
The strike is a good idea, and not particularly painful since you can easily shop in Berkeley.
Friend in Toronto said the cops there at #occupy Toronto have psyched out the demos by being very polite, helpful, even encouraging camping.
Killing 'em with kindness. Friend said Toronto authorities learned from the G20 dust-up.
I guess the next "growth industry" is going to be agent provacateurs. Seems too many Occupy protests are showing up, and not enough APs to get everything whipped into a frenzy....
Douchinger doesn't have a job
But he did stay at a Holiday Inn last night.
(And summarily tried to ban every member of the staff who did not instantly kowtow to his every whim and demand.)
So the Generals are going on strike. Who cares. I, personally, have been on strike for years and in so many ways. No one has noticed yet.
Miners lagging a bit today. But no complaints. Any shorts left on the planet?
It almost looks like the fakeout back in August, weak volume today.
me. just bought more DOG today. its been about two weeks andim getting absolutely hammered but I WILL NOT CONCEDE TO A CHARADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Kito... You've been consistent. I admire your noble commitment against the fraud.
But, DOG, cash, and no gold and silver, partner? You need to hedge somewhere. The USD will not be the big winner all said and done.
i used to feel that way, but im in the deflation camp now. i do think as more and more debt gets written off, it will more than offset any printing.
Well good luck. Remember though, I said "hedge." I didn't say marry the bitch.
quite frankly, i was shocked gold took off today. makes no sense to me. billions wiped away, no catastrophic trigger, no printing by ecb (as of yet) and gold up up up. bizarre.
Look at this way. Would you buy a bond at near zero yield if you thought you could lose? You're buying the 'back stop.' These bond holders are made whole one way or another. If they weren't, or if there was fear that they weren't, we'd see the massive flight.
Instead it's the I HAVE ABSOLUTELY NO FUCKING FEAR NOW trade... the GLOBAL put. Were the bondholders ever really at risk?
We'll see how the bullshit plays out, and for how long.
printing will be occurring that you can't see.
Screw the piddly-ass helicopter of lore --- it's the new and improved B(ernanke)-(QE)2(+) stealth bomber! With radically advanced non-transparent, anti-truth reflective coatings for maximum surreptitious market penetration, and an extra-wide cargo hold for all that paper, not to mention a full arsenal of non-traditional, (Nelson) bunker-busting anti-PM bombs. And the name on the side of the nose? "My Lord Keynes".
The trends for both gold and silver don't make any sense to me either:
I would assume that if people thought the economy was going to be great they would buy stocks and sell gold and silver.
On the other hand if people thought the economy was going to crash and burn they would sell stocks and buy gold and silver.
Instead they seem to go in the same direction--both up or both down.
All other 'fundamentals' aside, stocks and metals are priced in dollars.
Gold barely budged, up a whole $20? Definitely early, rolled out of some tbt calls and into aapl and amzn puts.
@ kito, ol' philosophical question:
If a quadrillion trees fall in the forest to produce fiat currency and nobody sees, does Ben have to make a sound?
The Fiat Tsunami: coming soon to a deflation camp near you!
(In case you hadn't noticed, the waves are already starting to lap at the edges of your tent.)
...one miner I own is up 28% since Oct. 24 vs metal of about 12%.....
.
I told my blonde bombshell unit that I was 16.7% smarter than I was last Thursday. She replied with "wish you were 16.7% longer". Sigh. Guess I'll go play with my shiny metal thingies.
She's a quick one.
Your silver will never throw your inadequacies in your face like that. Nor will it up and leave you and take the kids, or sue you for half your shit. Ahhh, silver is quite the temptress...
Tell your recepticle unit that if Ag keeps going you can buy her tits that are 16% bigger and 16 years younger, plus a can of STFU. ;)
LOL! Thanks for the chuckle!
Maybe you should broaden your base too.
tell her u wish she were 16.7% younger. Women are very vulnerable to emotional attacks against their age, looks, or anything related to desirability/marketability.
It's too bad gold and silver are backed only by confidence. I know this because an attractive TV anchor told me so.
(sarc)
And she really wasnt all that attractive, pretty avg Betty.
True. As a general rule I believe the more attactive the anchor the less substance to the news.
Not that MSM is worth watching for anything other than comedy value, that is.
She has not gone through Surgical Enhancement yet, she even retains her real hair colour. What you're looking at is normal.
The moment she gets signed up for a lead talking head position she gets surgery and hair changes. You would never recognize her even with before and after pictures.
Cat Lady!
For Calgary, she was WAY above average.
However disingenuous it may have been, I agree totally with her assessment: all/any money is really only backed by confidence.
The massive difference is that PM's are backed by confidence that stems from someone already having completed the large amount of work necessary to produce them. Whereas fiat is backed by the confidence that a gov't will behave in a fiscally responsible manner, won't add an infinite number of zeroes to its paper supply, and has the power to force the masses to continue to use its 'paper promises that someone has done/will do some work at some point, honest'.
Well, it looks like that's two down; one to go.
In someone else's words, "Gold is the transmission of wealth through time. It gets it's value from the past. Paper notes derive its value from the future, in the form of debt, borrowing from labor not yet performed."
It's too bad gold and silver are backed only by confidence. I know this because an attractive TV anchor told me so.
She's right.
But it's about 5,000 years of confidence.
It's confidence with no counterparty risk.
It's confidence more of it can't be printed on a printing press or created with a few keystrokes.
I wonder if she can say that about uncle Ben's paper currency.
I sold silver paper for money, now I sell paper money for silver (that is over 2 standard deviations on a long-running meme).
LOL. Me too.
I've been trying to get my dad to do this but he just won't listen.
I expect the illusion that 'Europe is saved' will be shattered by something well before Fridays close, or even today.
Just heard Mackey saying that 'Europe has just bought itself 2 years free and clear'...huh whats that? Theres no 2 year pole vaults here, its day to day.
....just as soon as GS gets itself positioned on the other side of the boat....has anyone charted the frequency of risk on / risk off.....is the amplitude and frequency increasing????
2 years free and clear?
This from Roy Scheider in JAWS:
http://www.youtube.com/watch?v=8gciFoEbOA8
You need a broader time frame than just a few days. The EU central bank has to lay off its lending exposure and it is going to have a lot of problems doing so. After all, there is no 'European Treasury' upon which to do so.
This isn't going to emerge in the next day or so. When it does it will become 'velly interesting'.
Gold has plenty of reasons to increase in price. Silver, who knows?
???
EU 'leadership' is engaged in confusing the issue and hoping some growth will arrive with the next train ... before the next summit meeting. They are all truly at the end of the gangplank.
It's gonna get pretty ugly in the next few years.
I mean "PRETTY" more than "ugly" [ if your holdin silver! ]
I think Tom Obrien should look again at the $$. Its looking very sick.
Fantastic. Short it like it's a bad habit if it beats $45 in the next 2 weeks.
or maybe even today. do you regret your post on the break out article tyler posted two days ago?
Just published in dutch online newspaper.
Overview of exposure to Greece debt by European banks:
France 51.3 B USD
Germany 33.5 B USD
UK 12.6 B USD
Portugal 10.1 B USD
The Netherlands 4 B USD
Italy 3.8 B USD
Austria 3.1 B USD
Belgium 1.6 B USD
Gold has hardly risen at all, when valued in EUR or JPY. It's the dollar that is down.
the dollar is still the least ugly horse. in fact I have a few dollars to hedge my local European currency. I'm guessing it's still a bit of a deal for PMs to be rising in dollar terms.
When the eurozone situation unhinges again (in a couple of weeks or so, maybe?) everybody's going to run to the dollar, as they always do in times of collywobbles. Then the dollar will regain what it's recently lost to the euro, and then some. If gold in dollars manages to stay steady through that, then we euro goldies can also get a share of what the dollar goldies are feeling today. On the other hand, chances are that gold will go right down again when that happens. Or rather - gold is the stable baseline, it's all the currencies that are always flapping about.
I have to laugh when mindless shills for the financial status-quo constantly repeat the inane line that "the dollar is up against the euro", or "the euro is up against the dollar", when in fact no fiat currency EVER moves up in true value (i.e., purchasing power) --- they just ratchet downward against each other at different and ever-changing rates.
To use my favorite analogy, if your sinking ship starts taking on water even faster than my similarly sinking ship, thereby sinking lower relative to my own, does that mean that my sinking ship is therefore somehow rising out of the water?
Germany stock market increased 5% today. what is going on???
Optimistic that Germany will announce they are withdrawing from the EU maybe?
People buying German Equities in exchange for Euros - the game is up, Markets are not in rally mode because Europe has a plan to fix its problems. They are in rally mode because the cuirrent plan is a joke, and the endgame is printing.
Printing=German savers sacrificed to save German banks & Industry. Industry will benefit from printing - in the short term anyway. Holding cash while there are decent German Stocks to buy.......not looking too smart.
Disclaimer: Stopped out of recent shorts today.
I have to say that I am shocked at the pop in the equity markets. I really thought that this bullshit solution was baked in already. Having said that maybe I was right and this is just a positioning thing. For every purchase someone is selling or shorting.
It's just a side effect of swallowing a Hopium pill.