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Copperman, good morning…
(Trader_vic) Oct 22, 11:57
As far as the small retail investors, If they’re smart, they will be sitting on the sidelines looking for the next entry point in the gold market… I’m looking for a short pullback in here with the dollar rising to around 79-80, then literally a collapse in the dollar down to 76 or lower…
This should take gold to new highs and a start of the rocket ship up… At this point, we have to confirm the breakout back test before we go anywhere and this is what we are doing right now… So we should see a few more days of pain in there and then, “To the moon Alice, to the moon!”…
The idiots on Wall Street and in the gov’t are trying to stabilize a market that has NO FLOOR to it… That’s because they have lost control of the credit markets and they don’t know how much is unaccounted for in the SIV’s and worldwide hedge funds that are uncontrolled… This is a game of lier’s poker, where the banks are lying to everyone…
UNTIL, they have to report 4th Qtr earnings (fully audited!) and signed off by their EXTERNAL AUDITORS! These guys aren’t going to be caught in the same game that the Enron auditors were… And they are taking a tough stance against irregularities in the bank’s accounting practices… It’s also a game of chicken, such as what we have just seen, who can post the least losses to the press on “unaudited” results…
So, the shit has not yet hit the fan, and by that time, you will get the REAL kicker… The rating services will once again DOWNGRADE THE CMO, CLO, AND ALL THE OTHER DERIVATIVE PAPER NOW ON THE STREET… SO THIS IS JUST THE BEGINNING OF THE REAL DOWN DRAFT TO COME…
@TraderVic
(Mr.Copper) Oct 22, 12:36
Nice to hear from you my friend. 🙂 I think you’re exactly right on all that. A dollar bounce certainly is understandable by now.
Even I was surprised at how fast it got so low. Basically the Dollar “got it”, harder and faster.
Re your “they are taking a tough stance against irregularities”. I’m seeing crack downs in many areas. Major reversals all over the place.
Liberalism and permissiveness, and making believe and all the artificial facts and figures, and all the lying has all caught up to them.
Another big old problem trend I’ve noticed that lead to today.
When filling important positions in high level jobs, rather than focusing on the best experienced in the total population, they focused mainly on the best experienced minorities. Limiting gross selection.
A similar situation, is the US economy is STOPPING, and rather than discuss economic problems, these media quacks are concerned environmental problems.
Their fairy tail goody two shoes mentality has dominated things for too long. Its over for them. Practicality now has to push them dreamers aside so we can get back to business.
They, the emotionals, had their chance for 50 years, and naturally, the results are revolting.
The economy will now evolve into a standardized monetary system with monetary military type discipline to get back on track.
The transition is going to be rough though, like a bypass operation. 🙂 The “emotionals” have clogged the arteries. 🙂
I remember discussing economic problems with my brother one night, and his wife seriously said…”Can’t they just print the money”?
Well that’s the type who have been running the US economy. My sister-in-law type in high places. 🙂
Copper
(raptured) Oct 22, 13:08
AGREE ! AGREE !
And I have a brother-in-law like your sister-in-law.
“Just print some more” Of course they are up to there eye balls in dept too.
Me – I owe no body nothing and I have lots of these round, shinny gold and silver things. They think I have wasted my money – lol
@Son_of_Benson 12:08
(Mr.Copper) Oct 22, 13:17
Hi Benny, re your:
“The unexpected was that they have become “beggars to their own demise” via the SIV fund virus.” and your
“the masses only care about food, shelter, and gasoline for the car…because they are “hand to mouth”.
The bottom line is the wherewithal of the people. The ability to pay bills and have some money left over for a rainy day.
The private sector people have been shouldering the entire load of crap, and have been abused, and now its pay back time. Or rather lack of pay back. 🙂
The US producers and miners have also been abused for YEARS, with low prices, and its payback time with shortages of Metals, and Food, and Oil.
The strong dollar idiots got their way. They prematurely fed millions of US dollars to “stray cats”, around the world,
and now have millions more stray cats (dependents)while the ability of the US private sector to provide is over.
If because of fiat money that loses value, they need to feed poverty, they will naturally get more poverty. Now coming to a neighborhood near you. 🙂
TraderVic
(Mr.Copper) Oct 22, 13:43
Re your:
“That’s because they have lost control of the credit markets”
I believe that’s what they say on financial media? I think they are purposly using the wrong “jargon” when they refer to “credit markets”.
The credit markets are fine. Imo they lost control of the debtors when they stopped paying. They refuse to acknowledge a waning debtor that was practically FORCED to borrow.
Their fancy misleading words are meaningless to me.
@Vronsky re 14:47 Rates
(Mr.Copper) Oct 22, 15:17
Pretty neat chart view you posted there. My guess is they’ll drop the rates twice as fast as they rose them. Two years up one year down, if not faster.
Simply because they should not have raised them in the first place, and their problems are far worse now. I wouldn’t be surprised to see them drop rates back to 1.5% in a year.
It was always my hunch that the only reason for raising them, was to fool the markets into thinking the economy was strong enough to do so.
The alleged recovery they kept implying, was just an artificial “home depot boom”. No meat.
And the second reason for the hikes was, they would have some reserve points built up for emergency drop for psychological affect later. And here we are, later.
They just recently got hit in their face with that.