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Memo To Trump: Trade Bolton For Tulsi
I really like her foreign policy views. She sounds like Trump did before he got elected. Now, as far as foreign policy goes Trump seems to be in the pocket of the Deep State warmongers. I must admit he is scaring me some. I have no idea what Tulsi’s other ideas are.
https://www.zerohedge.com/news/2019-06-28/memo-trump-trade-bolton-tulsi
Morning Maddog
Yes sir, maybe the 10’s are ready for a bounce in rates and it does appear that they want to hold 2%
Almost seems the gold action is tied as much to rates as it is to the USD
SM seems nervous today about the outcome of the G-20 meetings and trade talks, although the SM should be nervous about a lot more than that…JMHO
This sure reminds me of the beat down before FED meetings-gold at. 1410 is $18 off the high
Let’s hope that this is nothing more than FED-day-like shenannigins…and nothing more ominous
That said, I’ll still [ half-heartedly] stick to my call that this is the last. day to load up…I must remind myself that only about 6 weeks ago I. had thrown in the towel and was questioning if gold was even still viable as an asset class….silver is only down 2 cent
BUYGOLD SAID=
I’m getting too optimistic and I know when that happens, it’s time to get crushed.
Ten yr. inching up to 2.02%—[ THAT GOES FOR ME, TOO, BROTHER!]
Free healthcare for all illegal immigrants … when native born people who have been paying taxes all their lives pay through the nose!
Trump slams Dems for backing health care for undocumented immigrants
https://nypost.com/2019/06/27/trump-slams-dems-for-backing-health-care-for-undocumented-immigrants/
Buygold
The 10’s are down 7 weeks running and apart form 1 small up, effectively down 11 weeks….we’re really pushing the envelope on rates, short term a correction is overdue…LT we just go down.
ECO Data
Personal Income 0.5% vs. 0.3% est.
Personal Spending 0.4% vs. 0.5% est.
PCE 0.2% as expected on inflation
Pretty much a dud, but in months past they probably would’ve used these numbers to spank gold just because. Now it doesn’t seem to be so easy…
I’ve got to catch myself, I’m getting too optimistic and I know when that happens, it’s time to get crushed.
Ten yr. inching up to 2.02%
Crimex opens
First shots are fired on the sell side, only a couple bucks but they are pressing the action.
Ten yr. up a smidge to 2.015% USD Flat
DOW up a 100 pre-market. If that holds all day, then we may struggle to stay flat.
At least Silver is up $.03
Looks like London was busy last night
Keeping us corralled before the weekend.
Shares are early believers that we might go higher but I dunno.
At least we’re above $1400!
Nothing to worry. about? Well, if it’s ll the same to you, I’ll keep worrying anyway…but. hope u’re rite.
A Lot Of ‘Nervous Nellies’ In Precious Metals Sector
June 27 (King World News) – James Turk: “There are a lot of ‘nervous Nellies’ in the precious metals market at the moment, Eric. They are concerned that this reaction of the past couple of days may lead to a bigger correction. That may or may not happen. It is this kind of uncertainty about the future that is why bull markets climb a “wall of worry.”
Any wall-of-worry can be tough to deal with. They play at our emotions, which can provoke deep seated concern, which is understandable. No one wants to lose hard-earned money. So instead we need to look at markets objectively, which explains why I rely heavily on charts, like this one. There is nothing really much to worry about when looking at this chart of the London spot market closing gold price.
Nothing To Worry About When It Comes To Gold
Key Points After Gold’s Breakout
Gold broke out of a multi-year base, and it is in an uptrend in price. That’s all we need to know.
Tariffs are our best tool in defanging the monster:
“If the tariffs come into play across the whole gamut of Chinese imports, then the export sector of the Chinese economy will be devastated. Remember that the export sector of the Chinese economy is the only sector of the economy that operates according to market principles and makes money. The rest of the economy is an old Stalinist state-planned nightmare. The Party itself consumes probably $1 trillion a year in wealth just on its salaries, on its resorts, on its vacations, on its foreign junkets, on the rest. So the Party itself is a great hurdle or handicap for the Chinese people that they have to carry a cross, carry through life.
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The second burden the Chinese people have to bear of course is the state-owned sector which loses trillions of dollars a year. All of the state-owned economic enterprises lose money. China Railway, for example, is $750 billion in debt. They built beautiful high-speed rail all over China. Not one of those high-speed rail lines is making money. Not one of them is paying back the money it took to construct the rail line, which was probably two or three times what it should have cost because of corruption — officials on the take at every level of government.”
https://www.zerohedge.com/news/2019-06-27/chinas-rogue-regime
This. is old news-“Forecasts released last week”–but it is being trotted out specifically to stop the gold rally-I know that sounds delusional bit it’s not-that tactic will fail–the horse is out of the barn.
Fed’s Daly Says It’s Too Early to Say Rate Cut Is Needed: Bloomberg TV Interview
“It’s too early from my perspective to know whether we should use the tool at all and what magnitude of the tool we should apply,” Daly told Bloomberg Television, adding that incoming data would drive her view of what the Fed should do at its next meeting in July.
=” from the U.S. central bank show Fed policymakers are about evenly split over whether they should lower interest rates at all this year, let alone as soon as July, when they next meet to set policy.
Maddog–I have a friend who put almost all his lifes’ savings into a Chinese company about 5. years ago
The company was supposed to be the latest thing in something or other…he lost $400,000…there was an awful scandal and a lot of complaints lodged but the company was a fraud and there was no one in China to sue…I don’t know what. madness seized my friend…I guess he wanted to go for the Big Casino…he rolled the dice and got ace-deuce…
4:30–am–Just like before a FED. wednesday, the fire brigade was called out to get gold under control
Gold’s 10 bucks off its high–silver’s a dime off its high too…I think there’s a chance that those high could be reached again before the close…50/50…but first it looks like they may claw back ALL the overnight gains…a good time to do it in thin trading.
#1–A bit of subtle propaganda/jawboning=Bloomberg led off their. 4:30 segment featuring the head of the San. Francisco FED, Mary Daly, saying. that “it was still too early to tell if a rate cut is needed”
#2—U.N.=Iran to breach nuclear. agreement. within days
I would dismiss number one-that voice will get lost in the din of the crowd—number 2 showa that there are a lot more reasons to buy gold besides tariffs and rates….like the World-Wide. debt and derivative bomb aka Modern Monetary Theory
Who is behind Tether/Bitfinex…..surely not D’A Boyz
https://gizmodo.com/is-a-potentially-fraudulent-crypto-company-behind-the-b-1822812836
Oh Dear…what do we find here….spending his time between London and the French Riviera
https://www.crunchbase.com/person/giancarlo-devasini#section-overview
This will make u fell really good
Zhao Dong, a prominent Chinese early bitcoin adopter and shareholder in Bitfinex, recently posted on Weibo seeking to provide anecdotal evidence as to the integrity of Bitfinex and Tether’s financial reserves. The post claims that Zhao Dong and Lao Mao, the chief executive of Big.one, have witnessed first hand the balances of Bitfinex and Tether’s respective bank accounts during a meeting with Bitfinex’s chief financial officer, Giancarlo Devasini. The post alleges that the combined bank accounts of Tether and Bitfinex hold nearly $3 billion USD.
Vouching Bitfinex and Tether’s Bank Accounts Hold Nearly $3 Billion USD
Bitfinexd Blog