Loading ...$1600 next month? Really?
Does the National Enquirer have any predictions for gold?
Ororeef was too busy to mention the other day.
JUST DO IT ” Can do” was a common saying by the SEABEES in WW11. Shot at by snipers being first in while getting roads ready for the military. NIKE doesn’t represent this meaning they HIJACKED by hiring sheltered privileged Colin K or the flag these men risk their lives under. My grandfather Lt Commander was there due to his building expertise asked to command them. They really were the fighting Seabees as he had to bail them out of jail a few times.All his brothers were in from pilots to ground one fought in both wars and had chemical damage. He said they were good men. Not can’t do Collin. Nike should rename itself Sweat Shop.
A ZH reader
Only thing growing in this world is the population of poor people. They own nothing and consume little. So what could possibly be the source of the stellar growth of all that fine assets? Maybe printed money? Handed over from central banks to commercial banks, public debt, owed by taxpayers and foreign nations. Looks to me like a real sound foundation for endless growth of multiples in stocks. No creditor on this earth will ever pay back debt or even interest, unless it turns negative. Global economy is a single giant nonperforming loan. And right now the wave is building up on the shores of the US financial markets.
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Global debt has surged since 2008, to levels that should frighten any sane investor because debt has always had consequences. Much of the massive debt load hanging above our heads in 2008 has not receded or gone away it has merely been transferred to the public sector where those in charge of such things feel it is more benign.
A series of off-book and backdoor transactions by those in charge has transferred the burden of loss from the banks onto the shoulders of the people, however, shifting the liability from one sector to another does not alleviate the problem. The article below argues much of this debt will end in default as history shows it always does.
This is some good sh*t=”A similar pop now would put gold prices near $1,600 [an ounce] next month.
[we’ll forget about the rig for now and just enjoy the article]
Will Gold Bulls be ready for action again?
With the price bottom nearly in place, gold bulls appear to be ready for action again, according to Bloomberg Intelligence.
Key factors in gold’s recovery will be the U.S. stock market and the greenback, Bloomberg Intelligence senior commodity strategist Mike McGlone said in the Bloomberg Commodity Index Outlook for September.
“The dip in the metals bull market appears near its nadir … Gold has declined 15% from its peak this year, yet remains in a rising trajectory in this rate-hike cycle despite the stronger trade-weighted broad dollar and record-setting stock market,” McGlone wrote. “A bit of sustained mean reversion in the stock market or dollar should unlock the cage for the well-rested gold bull.”
The Federal Reserve meeting on September 25-26 could be one of the positive triggers for gold prices, McGlone pointed out.
Currently, markets are pricing in a 99.8% chance of another rate hike in September, according to the CME FedWatch tool.
“Getting past the expected Federal Reserve rate hike in September should be positive for gold, in recovery mode from good support near $1,165 an ounce,” McGlone said. “Looking at what gold ETFs have done during this Federal Reserve tightening cycle, we believe prices are likely to rise soon.”
McGlone compared today’s gold price set-up to the period just preceding the almost 34% three-week rally in 1999, pointing to the net-short positioning within the gold ETF space.
“A similar pop now would put gold prices near $1,600 [an ounce] next month. Extremely low volatility is the connection, with gold’s 90-day reading the lowest since September 1999. The 60-day level hasn’t been this low since 1997. Such a condition is unsustainable, in our view. Mean reversion in volatility typically occurs with the opposite conditions. The greatest net-short position in the Comex (CME)-traded gold database (2006) is an added risk,” he said.
“A minor spark” will also be enough to get the gold rally going, added McGlone.
“In 1999, expectations of limits on central-bank sales were a prime short-covering spark for gold. That rally was fleeting, but current conditions indicate extreme risks for short positions,” he said.
If this is true it hasn’t mattered=something most unusual is happening with u.s. dollar futures.
In Murph tonight=
something most unusual is happening with u.s. dollar futures.
in the last six months the dollar has basically risen from 89 to 95. however, the commercials have been extremely short. we think the commercials are “smart money”. are they really? in march they were merely about 3,000 net short. in april they were about 2,100 net short. in may this went to about 5,000 net short. in june this jumped to 23,000 net short. in july this jumped to 30,000 net short. then in august an amazing 40,000 net short! they are hemorrhaging. the dollar would have to collapse tomorrow, and go to very low levels just for them to break even. supposedly there are about $1.7 trillion dollars worldwide. i have no idea what is going on. just reporting.
best,
roger
Goldi–that is very old news-in the 1980s the government issued a warning about that–a friend
of mine had that treatment–in the 90s he had to have his thyroid out. In 2001 he had a bump on the roof of his mouth–it was cancer–he died a few years later–I used to get peeling skin on the ball of my feet–I got radiation treatment for that–It didn’t work–them I got a salve for that and it worked. I am 75–never had cancer.
My daughter brought up something that she thought happened over a hundred years ago.
Guess she thinks of baby boomers as really old. Actually she got the message wrong on time but not occurance.
Back in the I think as far back as the 30s but definitely 40-50s they were radiating children’s thymus to shrink them believing a large thymus was the cause of SIDS. They later discovered a large thymus was a sign of a healthy baby and small thymus was the sign of a stressed baby. They got it wrong and the result was hundreds of children died of thyroid cancer that absorbed the radiation.
The dangers of getimg “assumptions” wrong just like politics or even stocks.
Even today many of these children are finding cancer on their thyroid.
If any of you ever got this treatment beware.
Ororeef .46
All I heard or what little I bothered to hear from them was bla bla bla, bla bla bla. A waist of a nice day.
GOLD UP and Down The Past Month Depending On Where You Live. >>>>
12.67% In South Africa. >>Weakest currency.
9.77% up in Brazil.
5.34% up in USSR.
3.46% up in Mexico.
2.62% up in India.
1.55% up in Australia.
.02% up in Canada. >>Most Stable currency
.68% down in UK.
1.32% down in Japan.
1.33% down in USA.
1.51% down in Europe.
1.54% down in China.
3.55% down in Switzerland. >>Strongest currency.
JPM’s Silver Stash
“They make their money in usery, and will defend the larger bubble on behalf of the status quo to the death.”
Capt. Hook – well said – I agree 100%
That sounds very plausible to me Richard
Sometimes truth is harder to believe Than Fiction
From a ZH reader-the same applies to PMs=riggged!
85% of US market is controlled by institutional computers. US indexes are absolutely rigged to go up. The same pattern of intraday reversals has existed since 2009. With every budget, pension, 401k, ira, 529, college endowment, you name it, DEPENDANT on stocks always going up. Do you really think “they” would leave the wealth of the entire planet to the whims of a free market? We tried that, and it didn’t work out so well. Alan Greenspan threw in the towel on free markets in 2008. We have had manipulated markets ever since.
Re NSU Nevsun Resources Up 17.65% After All These Years, I’m Finally At Break Even With That Old Dog
I think JPM uses silver
As a hedge because they may be over extended in real estate. So it gives them downside protection if the real estate market goes to hell. It’s risk management and they would like to see the price of silver stay low and real estate stay high. They can’t tax physical into perpetually like they can over-inflated bogus real estate. Which has no place to hide an infinite tax dollars can be leveraged from. So put that in your pipe and smoke it matey.
Buygold
Exactly.
Anybody who thinks JPM is trying to make money in silver is an idiot.
They make their money in usery, and will defend the larger bubble on behalf of the status quo to the death.
The good news is even their stash, if they actually have all they claim, would only last days in the right conditions.
Cheers
R640 – yep
one of those days again.
I’ve developed a deep appreciation for just how shitty this stuff is.
The action in silver makes me wonder if JPM has decided to dump their supposed 600 million oz. treasure trove back on the market.
Israel admits 200+ strikes against ‘Iranian targets’ in Syria over 18 months
The Israeli military has admitted that over the past 18 months it carried out more than 200 strikes in Syria, which it claims destroyed hundreds of alleged Iranian targets, local media report.
Accusing Tehran of constants attempts to gain a foothold in Syria, and potentially deploy tens of thousands of soldiers on the ground, the IDF on Tuesday said that it carried out attacks against at least 202 “Iranian targets” on its neighbor’s soil. Overall, 792 bombs and missiles were launched at Syria since 2017, the IDF said on Tuesday during a special briefing with military correspondents.
Saw Alex Jones talking on bubblevision today
A rarity indeed!
Democrats moving to the left. More poll skullduggery?
In Latest Shock Upset, Democrat Backed By Ocasio-Cortez Topples 10-Term Incumbent In Boston Primary
This is starting to look like a trend.
Ayanna Pressley, a former staffer for John Kerry the first black woman to serve on the Boston City Council, has now become the second female, far-left woman of color to oust a member of the Democratic firmament in an upset primary victory that echoed Bronx “native” Alexandria Ocasio-Cortez’s June waxing of Queens Rep. Joe Crowley – the No. 4 House Dem who was once rumored to be in line to succeed Nancy Pelosi. On Tuesday night, Pressley defeated 10-term Massachusetts Rep. Michael Capuano to win the Democratic nomination to represent Massachusetts’ 7th Congressional District – surging ahead to claim victory despite her opponent’s double-digit lead in the polls.
I suppose none of this is helpful to gold…we were told that a loss of confidence in currencies and/or the financial system was supposed to be gold bullish.
From ZH:
Overnight, inflation in the Philippines exceeded 6% for the first time in nine years, joining Turkey and Argentina as another developing economy with soaring prices.
Predictably, the ongoing rout in emerging markets has not only not showed any signs of letting up, but accelerated overnight, with most currencies around the globe sliding against the soaring dollar, while the MSCI index of emerging market stocks heading toward a bear market.
“This has become now increasingly an issue which is no longer just about EM fundamentals,” Sameer Goel, head of macro strategy for Asia at Deutsche Bank AG in Singapore, said in a Bloomberg TV interview with David Ingles. It’s “increasingly about contagion, which largely happens because of cross-holdings and the pressure of redemptions.”
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The usual thugs.. Muslims like Sarsur were some of the disrupters
the rest Democrat Hypocrites tried to shut it down and cause chaos ..Blumenthal ,Harris,Booker all aligned ready tp pounce like wolves …