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Economist Dave Rosenberg on the “strong” jobs report today=You’ll soon be scurrying to buy those bonds you sold today.

Posted by Richard640 @ 22:48 on July 5, 2019  
I’ll share a well kept secret. The aggregate-hours worked index for all of Q2 slowed to a mere 0.6% SAAR from 1.8% in Q1. This is the weakest quarter since…Q4 of 2009!
 
Just to reiterate. The term ‘head fake’ was coined precisely for the sort of employment report we received today. =You’ll soon be scurrying to buy those bonds you sold today.==
 

Half the payroll gain came from the ‘Birth-Death’ BLS guesstimate; and prime-adult male employment actually sagged 97k in June, collapsing 338k over the past

 
three months, which hasn’t happened since September 2009. Lift open the shiny hood and check out the sputtering engine.

Great. article=by Capitalist Exploits=it is when faith in currency comes into question that gold really benefits.

Posted by Richard640 @ 18:06 on July 5, 2019  

 

When Michael Burry saw the impending housing crisis looming large, he went out and bought credit default swaps on subprime mortgages.

What did he know that the broad market didn’t?

He knew the structure of the housing market better than most because he did the homework. He dug through the numbers and looked at the mortgages that formed the different tranches. In short, he knew it as if he’d built the entire pile of isht himself. He knew it was rotten and it was only a matter of time before it all collapsed, and THAT is why he had the conviction to buy CDSs like they were the last bottles of water in the middle of the Sahara.

Fast forward to today, and tell me what’s more screwed up than those mortgage backed securities and credit default swaps the bankers put together pre-GFC?

I’ll tell you what. Global central bank interventions, and the various insane monetary policies enacted in the last decade, which have blown central bank balance sheets up like some giant malignant tumour, that’s what.

The Fox Smells His Own Hole

The folks who’ve been at the helm of these central bank ships, the ones who put all this together — we could say they’re lunatics, but they’re lunatics who still realise they’re playing with fire.

And when you’re playing with fire, it’s only reasonable you stack a few fire extinguishers in the cupboard.

What fire extinguishers are those?

Way back we predicted the current global trade wars gracing your news channels today.

Next? Currency wars. Watch!

And this is when gold gets really interesting, because it is when faith in currency comes into question that gold really benefits.

 

https://capitalistexploits.at/as-gold-nudges-higher/

Alex

Posted by Buygold @ 16:33 on July 5, 2019  

Me too brother! Me too

BG – keeping EVERYTHING crossed !

Posted by Alex Valdor @ 16:20 on July 5, 2019  

😇

Hi Alex

Posted by Buygold @ 15:54 on July 5, 2019  

Yeah, I had Kitco at $1400.40 for spot

Futures are a few bucks above that of course.

We don’t get a COT Report today, although I’m not sure it really matters much with those numbers anymore.

Share haven’t really been crushed as much as we’re used to on days like this. Hopefully this pullback will be short and sweet.

According to Kitco

Posted by Alex Valdor @ 15:23 on July 5, 2019  

…gold now up over $1400 .

Other than the metals and MUX

Posted by Buygold @ 14:52 on July 5, 2019  

Most of my stuff isn’t doing terribly.

MUX is of course the local whipping boy and always seems to get hit harder than everything else on down days.

Impact Silver has been up the last couple of sessions on heavy volume, not a lot but 15% – holding flat today with silver pummeled.

I just got home=1:08 pm–IMPRESSIVE-!! The HUI is a big 6 points off the low–JNUG $4 off the low

Posted by Richard640 @ 13:19 on July 5, 2019  

CDE–INCREDIBLE–up a penny @ 4.26–the low was 4.05

https://finance.yahoo.com/quote/CDE/options?p=CDE&date=1568937600

AG also a nice comback…

Ororeef

Posted by Maddog @ 13:10 on July 5, 2019  

One of the major problems with the Dollar is there is no alternative to trade, billions turn over every day in the FX mkts and they have to have a ‘story’, like Euro = bad Dollar = good, so u sell Euro/buy Dollar…They have run out of Good currencies, so now focus on the least bad, which is still the Dollar, for now.

The Euro is a basket case and so is the Pound, but that could change with a better PM/Government round the corner…maybe, the Yen can be Good but the mkt is too small and that is even truer of the Swissy and they have super negative rates. Many yrs back Gold acted as the last man standing, but that is too small and now forgotten….however it will change out of desperation….

But short term the dollar is still King, or that is the knee jerk reaction, see today….Trump may well change that and then Gold will fly.

If we could

Posted by Ororeef @ 12:46 on July 5, 2019  

keep the DOLLAR below its LONG term moving average that would solve a lot of problems ,both in trade and gold…,no need to crash it ..just keep it below its long term MA.,No trade wars,no real wars,just take back some of the momentum from what we have given away to help China develop ,they can stand on their own ,just like Japan did  and S.Korea .We need to teach them to give back as a policy now !  We are very much tied to Politics ,like it or not.If we could keep Trump in office for another term it can be done.  He knows what he is doing ,he’s been Bankrupt before ..he knows how to avoid it and how to get out of it.  Im sure he would have preferred to avoid it,it wasen’t a very pleasant experience . WE can benefit from his experience ….There is no one better on the scene to get us out of the financial mess we are in.

Hey GUYS heres the jnug problem

Posted by Ororeef @ 12:10 on July 5, 2019  

WE are all correct,its just that we are like the 3 blind men trying to describe what an elephant looks like when one is holding its tail ,one holding its leg,another its trunk….

The way to solve this is to look at both long term( 20year charts )and shorter term like 4 year charts .because the charting math is different and averages give a different picture .My advice is to switch back to long term on occasion to get a bigger picture of the cycle,knowing that jnug is a short term trade. Just trying to put it in perspective .  (The current problem is the DOLLAR) its like swimming upstream ,it can be done ,but….it takes more effort.

JNUG was 53.95-i jut happened to have it on my screen–then, in about 20 seconds it jumped to 55.21

Posted by Richard640 @ 11:13 on July 5, 2019  

https://www.cnbc.com/quotes/?symbol=JNUG

11:22–JNUG dropped below$55 and then was immediately bought and is at a new recovery high=55.53….hmmm!

click the link above and see the chart action

Ipso–lol–ignore my mood swings…11:am–some big bounces. in PM stocks–JNUG was $2.55 off the low but

Posted by Richard640 @ 11:10 on July 5, 2019  

looks heading back down…JNUGs’ ris if 56 down from 85…I’m glad to see that u are still waving  the pom-poms…monday will. be. interesting…so see. if gold can come back…if world stocks start crashing maybe money will come back to gold as a safe haven…otherwise gold awaits the end of month fed meeting…

Snake Eyes

Posted by ipso facto @ 10:55 on July 5, 2019  

$GPY raises 6mil with flow thru shares no warrants

Off to do something real.

Richard640

Posted by ipso facto @ 10:47 on July 5, 2019  

AFAIC any government number is suspect … we’ve seen them lie time and time again. Why should the Labor Dept be any different.

It’ll be interesting to see how long the precious metals pullback persists. They are sure putting the whammy on us today!

“This is absolutely. a no bounce day…and probably the end of the “great. gold bull market of 2019″…unless full scale war reaks out with Iran”

Surely you gest Beau!

Ipso–I want to cry. “foul” and say the labor dept rigged this number but

Posted by Richard640 @ 10:37 on July 5, 2019  

I think they are honest…they print a lot of low ball numbers…besides the trump administration wants a rate cut and higher stocks[…

1000s of dow points up on a dovish fed hope…the stock mkt is grudginly down 176…it should be back at new highs afyer a brief intermission.

veSilver could barely catch a bid as gold added on $150…but can really swan dive on the drop of a hat–down 41 cents.

This is absolutely. a no bounce day…and probably the end of the “great. gold bull market of 2019″…unless full scale war reaks out with Iran…

Iran’s ‘duty’ to seize British tanker if UK fails to release captured ship – senior official at IRGC

Posted by ipso facto @ 10:21 on July 5, 2019  

https://www.rt.com/news/463435-iran-reaction-tanker-uk/

GPY.V halted

Posted by ipso facto @ 10:11 on July 5, 2019  

One of these days Alice!

Yamana Gold Completes Sale of Chapada, Begins Process of Repayment and Early Retirement of Debt, and Continues With Rationalization Efforts to Reduce Overhead and Improve Effectiveness

Posted by ipso facto @ 10:07 on July 5, 2019  

https://ceo.ca/@nasdaq/yamana-gold-completes-sale-of-chapada-begins-process

Maddog

Posted by ipso facto @ 10:01 on July 5, 2019  

It’s the Bataan Death March!

I don’t expect it to last long but it’s sure painful now.

KOW

Ipsofacto

Posted by Maddog @ 9:55 on July 5, 2019  

Agreed a good time to cover, but the SM is negative, so buying is not allowed, only selling.

Anyway it looks like they will take no prisoners today…

Best Gold Stocks of 2019 on the TSX

Posted by ipso facto @ 9:55 on July 5, 2019  

The gold price was relatively flat during the second quarter, until it hit its highest level in over six years on June 25, when it traded just below US$1,440 per ounce.

Between price gains and mergers and acquisitions, some gold companies made progress and expanded the resource potential of their assets. Now that Q2 has come to a close, the Investing News Network (INN) has rounded up the top five gold stocks on the TSX that have seen the biggest share price gains year-to-date.

The list below was generated on July 3, 2019, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.

Best Gold Stocks of 2019 on the TSX

Silver takes out $ 15.00

Posted by Maddog @ 9:51 on July 5, 2019  

Amazing what unlimited selling, with no margin calls and a blind regulator can do.

Good time for the gold shorters to cover. None of the macro influences on gold have changed.

Posted by ipso facto @ 9:44 on July 5, 2019  

PS Ouch

Poll Results for Huawei … Mostly “No”

Posted by ipso facto @ 9:42 on July 5, 2019  

Should Huawei be allowed to sell their equipment in the US?

No (66%, 21 Votes)

Maybe some of it (19%, 6 Votes)

Yes (16%, 5 Votes)

Total Voters: 32

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.