OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

UNTIL THE WAR ENDS!! Then you have a winner. The war becomes necessary first, then the war ends. And then you have winners and losers. What the big deal?? This trade war jobs are involved. The USA already lost lots of jobs, so why not start fighting??

“Bank of America stock is falling faster than Bill Clinton’s pants in an Arkansas trailer park !!!”

LOL Good one! Funny on several levels!

I gave up on the paper games long ago and only deal with physical now.  Bought a 2018 roll of silver eagles months ago for graduation gifts.  Two of three grads simply shrugged and thanked me for the memento.  One actually knew what it was and was ecstatic, thanking me profusely, and planned to save it in a special place.

Wells Fargo… ugh.  My previous employer apparently bought my pension plan from them, so I am now receiving lifetime annuity payments from Wells Fargo.  Wondering if I might outlive them.

Glad I’ve got some phyzz for when TSHTF.

I bought 100 oz of phiz today. Far better to be lucky than good !!!

Bank of America stock is falling faster than Bill Clinton’s pants in an Arkansas trailer park !!!

rno

I got some skin in the game but ONLY a tiny amount–G&S have to prove themselves by closing strong and continuing tomorrow…I ain’t putting up $5000 for sone aug 27 $13 JNUG calls only to have the rally roll over…but I am impressed enuff to spend  $600 and give it the benefit of the doubt–namely 200 $15 calls for SLV aug 27 ay .03 each..if this rally is for real, SLV will get way past $15 in the next 6 trading days…and if not, fug em!

Trump tweeted against the Feds high interest rates, which instantly dropped it.

would like to see silver follow suit and gold finish solidly in the green.

Never know

but…but…could it be a spike bottom and a rally is being born before are shocked eyes?

Tend to agree with you, USD losing early strength and metals acting accordingly so far.

MUX appears to have finally broken through long time resistance around $2.30

http://stockcharts.com/h-sc/ui?s=mux

The USDX seems to be making a megaphone top. I was a little skeptical of the potential double top. The double top also contained a five point reverse point wave down. After taking out the bottom of the double top and rallying to new highs, a seven point reverse point wave down has been created. No sell signal yet.

The inverse PM markets are acting predictably. Paladium is down $38. today and silver is down $.30. Comex silver has support at $15.15 and the low so far today has been $15.135. Look for reversals soon.

rno

Actually, looking back a couple years both silver and gold might find some support right where they are now. Otherwise it’s going to get really nasty. They are both extremely oversold.

HUI hasn’t given up that much ground all things considered.

OTOH – I guess it all depends on what the rig decides to do.

As for the SLV call buyers, they’re out in force== Neither snow nor rain nor heat nor gloom of night stays these buyers from the swift completion of their appointed purchases.

Given the seemingly unceasing stream of scandal that has flowed out of Warren Buffett’s favorite bank, Wells Fargo, it’s hardly surprising that after doing everything from illegally repossessing the cars of American soldiers to fraudulently “cross-selling” credit cards and other products to millions of customers, the bank is now being called out for adding opaque products to the accounts of hundreds of thousands of customers – for services like pet insurance and legal services – without first explaining how to use them.

And in the latest sign that Trump appointee Mick Mulvaney is keeping the pressure on, the CFPB is investigating how Wells collected fees for these so-called “add-on products”, and recently prompted it to refund millions of dollars to customers. News of the bank’s latest scandal comes just days after Wells took a $619 million charge in the second quarter to refund customers for overcharging in its foreign-exchange, wealth management and auto- and mortgage-lending units. The bank also agreed to a $1 billion settlement with the CFPB in April – the largest ever levied by the agency – over its failure to manage risk.

Unsurprisingly, the bank has been aware of these issues for some time:

cont. https://www.zerohedge.com/news/2018-07-19/wells-fargo-has-been-caught-yet-another-scandal

I expected that response, but good to hear anyway.  Thanks.

They interviewed a professional currency strategist on Bloomberg. He said something like the charts and present goings on, may help the dollar go slightly higher, near term, but they were confident that fundamentals would push the dollar lower.

There was also mention of a “currency policy”. We all know what that means. TPTB are able to manipulate currency values. So, what ever they are doing, its just them buying time. They probably KNOW another down turn is near,

so getting the dollar nice and high, (to help Europe etc for now) then drop the dollar later during a US economic slowdown for a “punch bowl effect” for the US economy and those suffering emerging markets that can’t handle a strong dollar.

TPTB have a very complicated situation on their hands. The bit off more than they can chew or swallow when they integrated everything globally. Unwinding this mess is going to be very disruptive.

Most definitely — hold gold (and silver) because the degree of currency debasement that will be necessary to bail out the Wall Street idiots, bankers, et al in the next liquidity scare will border on hyper-inflationary levels, which could call the very survival of present digital markets into question.

Buy and hold physical. The premiums to digital could be quite profound.

Even if gold needs to plunge below $1000 in the initial stages of a deflation scare don’t worry — this will be a blip on the charts years out.

Cheers

I appreciate your insights into the markets, and understand (I think) your rationale about the paper markets.  But it leads to the question, would you be buying phyzz now and as the doldrums/downdraft continues, perhaps into the fall?

I got ‘in’ back in the era of ‘The Ruff Times’ – in fact , bought my first gold in 1967 when I bought a boxed set of Centennial Canadian coins which included a gold coin .

Made a lot , lost a lot – but have what counts ; good health , a loving wife , and wonderful kids and grandkids who are a cut above me in terms of character and ability . I count myself very fortunate .

No, I think you are a victim of the larger players who should know better.

Unfortunately, one of the nasty side effects of an easy money system the likes of which people have never seen before is their brains turn to sh*t. What this means in terms of the precious metals clusterf*ck as it stands right now is the funds continue to use precious metals derivatives as a hedge against a downturn in stocks, which they are not (a hedge), because easy credit is still available. This is the same reason broad market open interest put / call ratios remain high, which supports stocks. (i.e. the perpetual short squeeze.)

So it’s not the little guy who is to blame for this. We are captive of the Wall Street knuckleheads who keep running their margin balances ever higher.

As with 2000 and 2008, we must wait until these characters decide PM’s are crap again and they stop playing the ETF calls, which won’t arrive until the next deflation scare comes. (this fall? — quite possible)

Then the metals will explode higher.

So be patient.

I know it’s been a long time, but patience is better than losing money.

Cheers

Paulson & Co. will move forward with its efforts to replace a majority of the Detour Gold’s board and explore the possible sale of company.

In a letter release today, Paulson also said Detour had been “approached by a major gold mining company interested in potentially acquiring it.”

Detour Gold is up 13% to $13.93. The company’s 52-week range is $9.11 to $17.86. Paulson & Co. is a large institutional investor in Detour.

In a sharply worded news release, Detour Gold said Paulon & Co.’s claims were misleading and it doesn’t want to be forced into an “ill-timed fire sale”.

“Paulson, in a desperate attempt to resuscitate its flailing reputation in the mining industry, has once again misinformed the investment community,” wrote the company.

cont. http://www.mining.com/paulson-plans-replace-detour-board-explore-sale-company/

per bubblevision

But gave back a lot of yesterday’s gain .

Signed ,

Stupid

Yes, unfortunately all that means is the stupids are still optimistic.

We’re going down until they capitulate.

Cheers