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Market Reaction? 30 Year Just Hit 3.99% As Stock Selloff Accelerates, Gold At All Time Record, Swiss Franc Flash Smashes
To see what the market thinks of the economic prospects for the economy look no farther than the 30 Year which just dropped below 4.00% and is trading at 3.99% right now. The market is effectively pricing in a major economic contraction, with long-end deflation now expected. Which means that Bernanke just got yet another carte blanche to proceed with the only thing he know. And validating it is the equity market which at last check not only did not react favorably to the Senate vote, but has been fading all the news all day, and is now trading at the lows, with the S&P, Nasdaq and Dow all down more than 1% now and plunging. Next up, even as Obama prepares to talk, everyone is once again looking at an imploding Europe which will need its second bailout in a month (and third overall) shortly... or else.
The only chart that matters is, what else, gold:
Ok fine, one more chart: USDCHF, which also just took out record lows following today's latest flash crash.
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Don't worry, Bernanke is warming up the chopper.
head for the choppah!
Check last year between June-Sep. Is that answer
your question? S$P 15k by the End of this Year, After
Bernank will hit it with $1.5 trillion QE3 bazooka :)))
Guess my gold target of $2,400 within 6 months don't look so crazy anymore
SPX 500 1252 target in sight Captain. Fire Photon Torpedoes?
would it be too presumptuous of me to order my DOW 10k cap today?
I'm just trying to beat the crowd.
Noteworthy from today's The Daily Reckoning:
"That’s the big difference between Europe and the US. In America, the authorities have both the means and will to continue to run up huge debts and debase the currency. And since they can, they will. Or, to put it another way, when the authorities don’t have to cut, they won’t be able to do so. And the experts will find plenty of reasons why cutting spending (or raising taxes) is not only unnecessary, but undesirable.
As the Great Correction intensifies, the demand for US social welfare spending, and counter-cyclical stimulus spending, will increase. Revenues will fall too, leading to bigger budget deficits and more debt. More debt, in turn, depresses growth... leading to a greater demand for bailouts and boondoggles... and so forth."
GL!
santelli sure is smiling a lot today
Small bounce at the H&S neckline, keep an eye on that level ~1261-ish....
I am interested to know what you PM lovers think about the fact that commodities got crushed when the 08' collapse took palce, yet I am hearing a lot of deflationists running to gold and silver...
I am fully open to the argument that "this time it is differnt" if your point is that the global economy has lost faith in the US dollar. However, it sometimes seems that you forget that the reason a lot of you got in silver and gold at low pirces was that they tanked during the collapse.
Let me know your thoughts...
www.thecashflowisking.com
Seriously? Those guys don't know what are they talking
about.. Recession My A$$! With OIL 94-95$/b ?
Agriculture futures near highs? Silver at $40?
No guys, sorry.. Don't buying this crap.. Wake me up, when
OIL at $50, then we can talk about double deep and other
BS.. Watch for Stocks to recover shortly.. That's my 2c.
So you don't believe in an inflationary collapse? Watch and learn.
Why buy gold?
This time is different than 2008.
More importantly, if you look back a little further than a few years, you will see that this time is the same as all the historical collapses of fiat.
This time the USA is bankrupt and running out of confidence
This time market participants have had years to study the problem, see ample evidence that there is no recovery, that the will to curb spending isn't there, and that soverign debt is overwhelming and unpayable.
This time even the central bankers are buying gold, and that changes everything. They are holding up the markets and accomplishing absolutely nothing but kicking the can down the road and buying gold. What does that tell you? Either they are into tradition and there is no reason for them to be buying gold, or gold factors prominently in their plans for the future.
In 2008 the money left the stock market and went into cash accounts or into bonds.
Now the money is running from stocks and bonds and cash into the only thing that the money knows will protect and store value.
GOLD (and SILVER)
When governments and central bankers are fucking around with the currency, with debt, with debt ceilings etc.. what did you think was going to happen?
I'm 100% in the yellow metal since March this year. It's scary to hold anything BUT gold at this time.
Patrick the PAINTER #15
interrupts the OBAMA white House address. Unbevieable... You wont see it on CNN ...Pass the Koolaid
http://www.youtube.com/watch?v=HqyavwoMKw8
more of the same from washington..more stimulus thanx Obuma, more debt thanx congress kicking the debt can ..never solving any problem just extend it until the government is bloated and eats every asset the private sector has..every tax unit that pays no taxes or is given tax refunds greater than what was paid .. is in effect a Gov worker..
the FED is on the hot seat now..QE in some form is on it's way
Putin and China you could bring them down. sell our debt do it please we are all Gov bitchez ..damn I hate them so much .. did anyone of our Joint Chiefs read> 7 days in May?
Woo Hoo! Burn the fucking shit pile down!
Has God vetoed the debt deal?
http://finance.yahoo.com/news/Fed-May-Weigh-More-Stimulus-bloomberg-152225707.html?x=0&sec=topStories&pos=3&asset=&ccode=
Fed May Weigh More Stimulus on Flagging RecoveryHey kids, new game:
'Red flag' anyone (even if you like them) who can't come up with a better word than 'sheeple'.
'Sheeple' is getting real, real old.
Consumer? Cannon fodder? Sovereign entity?
How about, Gerbil, pleebs, USed to be middleclass, or The USed UP
http://www.fantasticfiction.co.uk/edition/?isbn=0340710217
http://www.goodreads.com/book/show/1087689.Trillions
http://ecx.images-amazon.com/images/I/51L5emwQ0HL.jpg
The price of a Silver Eagle monster box to defend yourself from the monsters in Washington keeps going up.
Anyone who has seen the 15 year chart of AU tracking the rise in the u.s. debt ceiling has to see the high probability that the recent 29% increase in the debt ceiling from 14.3T to 17.1T makes a 20% rise in gold from last Friday's $1627 to $1950, in the next 18-24 months, very likely:
http://matrixsentry.wordpress.com/2011/08/01/esses-cafe-americain-us-debt-limit-and-debt-versus-gold-in-us-dollars/
And another 20% DC increase in 2013, to further enable a second 2 years of annual 7% increases in agency and other spending, might similarly boost gold another 20% to $2340. I think the message of the debt-ceiling-default charade is that gold is the trade of the decade, hiding in plain sight.
The bad news is that any government that plans to increase spending and raise the debt ceiling 20% every 2 years to cover its expanding programs, has only got 4, 6, or maybe 8 more years before reaching exponential extinction.
Two years, tops. We depreciated the dollar 98% in 98 years. I don't think that last two percent will be stronger than the rest. In fact, we will be lucky to make it to 2013 as the system becomes increasingly unstable and the co-conspirators holding everything together start to stab each other in the back for self preservation and to write themselves into the history books as heroes rather than villains. That goes for countries, central bankers, academics and politicians. Everyone wants to pad the resume for the next job interview.
Here comes the H&S neckline retest... hang on kids...
Turn that CHF frown into a smile and plot it as CHFUSD. I prefer to look at euros as EURUSD too.
$1650 Bitchez!
http://www.youtube.com/watch?v=0BaMLlnb_KI pathetic people doing pathetic things. how do people like this look at themselves in the mirror? i could not live like this, in some false realty, knowing full well the real truth and playing a game with myself by pretending the truth is something else, and lying to myself saying i do it because i need the job, etc. i could not live like this. not now , not ever. there is no honor in this. no integrity. nothing that made this country something we could all be proud of, maybe one time in our past lives. these traitors insult me. they insult any thinking american. these traitors must be dealt with in a most harsh manner. it is the only way. it must be done. for those who have died for nothing, their blood cries out for vengeance. for those who are still alive living out the memories of wars they have fought and bled in and realizing as we all do, at one time or another that all of them, yes all of these wars were fought for nothing. we are sick of these people insulting us out here in flyover country. we see what is going on. we know full well what is going on. yet they continue on, as if we do not see and do not hear. these traitors must pay for this treason. they must pay for it. it is a bill that is coming due soon. we shall collect it.............
"The market is effectively pricing in a major economic contraction, with long-end deflation now expected"
no! it is pricing in contraction but says nothing about deflation....deflation will not occur until the money supply contracts....is that happening?
Well my call last week for a $50 up day in AU may be at hand: today's $33 move has so far seen only 2 dips of $3 and then $4 before the thundering herd bids it higher. No BTFD decisions to make in this run from fiat, flight to quality runaway:
http://www.forexpros.com/commodities/gold-advanced-chart
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