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with the $ index UP .130 gold has started to pop–up 1.80–I just pray to Vishnu that it lasts for more than 3 minutes
The reason this is soooo bullish is cause. gold opened up last nite. about 4.50 then was stopped and sent back to. unch. where it. lingered all nite until about 10-15 minutes. ago——-in front of Wed’s most highly. telegraphed FED rate cut move in history–I’d be happy to end the day up. a measly 4 or 5 smackers…wouldn’t you–I will be especially happy to see PM shares/etfs outperform comex gold tody–that’d. be a good sign…
However, this latest news about the non-renewal of the CBGA is important because it is the best evidence yet that there most likely is an unpublished agreement among the participating European central banks not to buy any gold, but that this private agreement not to buy gold is now being torn up. Which would mean that open season for central bank gold buying is about to begin.
The CBGA member press releases acknowledge the eagerness to buy gold, saying that “central banks and other official institutions in general have become net buyers of gold” and that “the signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits.” The Swiss National Bank press release adds some flavor claiming that the “gold agreement [is] no longer necessary due to changes in market conditions and in central bank activities.”
As none of the CBGA cartel central banks “currently has plans to sell significant amounts of gold“, has it been a case of gold buying envy as Russia, China and the even Poland and Hungary have piled into the yellow metal? It would certainly seem so.
The press release from the ECB can be read in pdf format here, from the Swiss National Bank (SNB) in pdf format here, and from the Swedish Riksbank in pdf format here.
T’would be nice. to see gold. survive the nite and be up 6 or 10 bucks in. the morning…we need to. get out of this 3 week rut and get some impulsive upside moves to blast G to 1500 this week
Bitcoin can go up 500 or a grand a day…that’s fine…but if gold goes up 100-150. in 4 or 6 weeks Wall st craps their pants…
Into the new week we get the Federal Open Market Committee’s Wednesday vote to cut the aforementioned FedFunds rate from the current 2.25%-2.50% target range down to that of 2.00%-2.25%. Not news, really, given that ’tis been long priced into the FedFundsFutures. ‘Course, much shall be made ado over the FOMC Statement and Powell’s presser. As well, 18 metrics are due to work into the path of the Econ Baro, so keep abreast of that via the website.
Those events noted, “Let’s get ready to rollover!” is Gold’s clarion cry as trading volume this coming week shall move from the August contract (presently priced at 1418) into that for December (presently priced at 1432): that’s 14 full points very of bullish “contango”, the most we’ve seen for any Aug/Dec rollover since at least as far back as 2001, the inference being that there is a willingness to lock in paying today $14/oz. over Gold’s present price rather than wait to buy come December, (i.e. when one may then be obligated to purchase Gold such as to make delivery of it). But then again, why deliver your Gold when ’twill seek a still higher road?
Capital markets exhibit some nervousness about the growing possibility of an economic crisis brewing that will ultimately affect the global economy. Recent increases in the prices of gold (+11.7 percent in May and June) and Bitcoin (+93.3 percent in May and June) are a sign of that nervousness.
If that hearing by the Demonrats in Congress made anything clear, it was that Mueller was nothing but a figurehead and had little clue what was in the report.
Amazing that a guy like Weissman would throw him to the wolves knowing full well he didn’t have the mental capacity to defend a ridiculously fraudulent report.
I would have felt bad for Mueller if he hadn’t ruined so many people’s lives in this and his other investigations. He may have been a man of honor at some point in his life, but that ended when he became a tool of the DC swamp.
A tourist went into a San Francisco novelty shop. Looking around, he saw a detailed, life-like, bronze statue of a rat. It had no price tag, but its appearance impressed the tourist so much he decided to buy it.
The tourist took it to the owner and asked “How much for the bronze rat?” “Twelve dollars for the rat, one hundred dollars for the story,” said the owner. The tourist gave the owner twelve dollars saying “I’ll take the rat but you can keep the story.”
As the tourist walked down the street carrying his bronze rat, he noticed that some real rats had crawled out of the sewers and alleys and began following him down the street. This was kind of spooky so he began walking faster.
Within a couple blocks, the pack of rats behind him had grown to thousands, and had began squealing. The tourist began to trot toward the bay. He looked around to see that the rats now numbered in the MILLIONS. The rats were squealing and coming toward him faster and faster.
Annoyed, then scared, the tourist ran onto a dock that went out in the San Francisco bay. He threw the bronze rat as far out into the bay as he could. Amazingly, the millions of rats all jumped into the bay after it, and were all drowned.
The man walked back to the novelty shop. “Aha,” said the owner, “you came back for the story?” “No,” said the tourist, “I came back to see if you have a bronze Democrat.”
With individual central banks having lost command over consumer price inflation, there has been gravitation to concerted global monetary stimulus. “If we all stimulate together, then we can spur a more systemic boost of inflation globally.” Such an approach is doomed to fail. There is today a strong inflationary bias in securities and asset prices. At the same time, the legacy from the historic Chinese and EM booms is unprecedented overcapacity throughout manufacturing. The disinflationary dynamic in many goods markets ensures that monetary stimulus will spur powerful flows to speculative Bubbles with muted impact on aggregate consumer price indices. Finance will flow in force to – and exacerbate – areas with strong inflationary biases (i.e. assets markets).
On Reagan, Ronald smoked pot from way back. One of my grandmothers knew lots of movie stars and political persons from way back. She told me she saw Ronald smoking pot at party’s in Chicago in the days of Capone. Later one of my patients worked In the kitchen for the Gov Reagan. I asked this person if she ever saw him smoking pot. She said yeah all the time. After dinner they’d bring bowls of it out.
Where did kids learn drugs? Many times from their parents or other people’s parents. They gave out drugs like candy back when. Reds,” Seconal” yellows “Nembutal” and more were prescribed all the time. People selling them after getting them from Mexico too. Even in the hospitals and long term care they were given regularly up to the 80s. I was even offered them in maternity ward but declined due to I was nursing and worried about women getting them and contributing to cot deaths. They finally stopped too.
The real gateways are doctors giving out heavy drugs without tapering them off or sending them to a rehab that doesn’t require a end date esp if pain is involved if they get cut off.
Another is economic stressors.
Notice how things picked up after the crash of 08. Depression, stress, doom and gloom.
Pot is actually for most a preventative in taking other drugs esp for stress or cancer treatment vs more harmful and addictive drugs with a list of side effects. Now included in stopping seizures vs toxic drugs or alcohol.
It can sometimes bring the heart rate up and may not be good for all people.
Some question related to mental illness too.
What you have to watch is kids getting a hold of it for recreational purposes and make sure they’re not hanging around older kids doing more than that. It’s not the gate way it’s the people or drugged who do more than pot you have to watch out for giving it to kids.
FRANKFURT, July 26 (Reuters) – European central banks have ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plan to sell large amounts of the metal, the European Central Bank said on Friday.
The Central Bank Gold Agreement was originally signed in 1999 to coordinate gold sales by the various central banks and help stabilise the market for the precious metal.
“The signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits and none of them currently has plans to sell significant amounts of gold,” the ECB said in a statement. (Reporting by Francesco Canepa; Editing by Jan Harvey)
Do you drink alcohol oro? Maybe all those people started there, not weed sir. Its the gateway drug, not weed, ms.reagan fantasy believer oro. You’re off your rocker sir. You’ve already forgotten that people have been growing for thousands of years. taxes get to high? people will just grow thier own, wake up! Please dont comment about weed, you’re out in left field and completely clueless about the real world.
Did you really think Government regulated (TAXED) Marijuana was going to be profitable ?
They will keep raising taxes on it until the demand for it goes away,then they will know they got all they’re going to get ! First they get you addicted ,then you pay ! same ole ,same ole …you never learn !
How did you think all those people living on the street in San Francisco got there ? addictions !!!
NOW its LEGAL ,do you think addictions will go down because it legal ? Governments dont CARE ! Its all about the money !
the Europeans are to blame for making themselves dependent on Russia for energy ,THEY should stop IRAN ,not the US ! Where the HELL is NATO ? Why didn’t you boost up your financial contribution for your own DEFENSE ? What the Hell did you think Trump was trying to tell you ! You deserve what you get !
You presume US and allied satellites and drones, ELINT, ESM, missiles and glide-bombs are incapable of locating, targeting to over terrain and navigating into a mine or tunnel? Are you not keeping up? Automated terminal-guided weapons have been able to do this for around 15 years.
You also make this incredible presumption that a large force will necessarily land and need to do so to make direct observations for targeting. This is not 2005 any more. As I said, the Iranians do not know what they are facing, and apparently nor do you.
Then you go on about quantitative impacts of tactical Iranian targeting drones? Fine, but maybe you didn’t notice one of the first hints of the sort of counter-drone tech that’s been developed and fielded already? I posted about it last week actually. These are not just on ships they will be on shore in various forms as well, if or when small teams are used.
Their drones will fail (as will most of their weapons).
You also seem to discount the hundreds of billions invested into advanced missile defenses during the past 30 years and seem to think some glorified SCUDs from Iran (a country with a joke of a navy and a joke of an air force) is going to spell assured doom in battle? You can’t possibly be serious?
“Massive/diverse geography”, is the first thing that’s apparent the first time you look at a map or Iran, the Zagros Mountains are not a surprise. Nor are they the assured trap you suppose, there is no reason to fight a ground-war when you can simply smash the country from the air, and there is nothing down there that can not be smashed.
You also don’t seem to grasp the nature of the current generation of sensors, such as 24/7 all-weather IR and SAR 3-D mapping and targeting for instance. Each and every F-35 in theatre can detect any emission or reflection, day or night, and have the systems working right now to track, map and project the paths of origin and the path of trajectory of a ballistic projectile or missile in seconds. You know where it came from within meters, you know where it is, your know where it is going, long before it gets there, and they can feed that data directly to the battle network in near real time.
What you also don’t seem to grasp is that there’s currently a fully-operational passive space IR detection and targeting sensor constellation overhead, who’s primary function is to do just that. And to pass the information in real-time to intercept radar sensors with which to engage such weapons, and to target their origins, as well as to use learning-systems to track any vehicles (both too and from those sites) and to see where they came from, and where they went to via the record of the imagery and video logs that they produce. they also passively map in 3D and develop target vectors in 3D.
The Iranians have not got a hope against what they’re facing.
And the notion that AD system pop-ups are not known about is frankly laughable. The Iranians attacked an RQ-4 in peacetime, in international airspace, over international waters because they thought they could get away with it. They haven’t, they just don’t know it yet.
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Instead of gushing over Iran’s hopelessly outmoded tactical options, perhaps you should evaluate the options available to the GCC Arab states alone and then the Israeli’s beyond that, in addition to the US/Allied effort, plus its considerable fighting and data support to those Arab States. Those Arab states alone are capable of dealing with most of what Iran can do. Did you even realize that?
Debunking stuff like that is boring so I’ll reiterate, I’m going to thoroughly enjoy seeing Iran’s military and industrial capacity get hammered, until they resort to much ineffectual bleating then beg the Arabs and Russians to intercede to try to get it stopped.
If you find yourself living in Puerto Rico,Cuba ,or Venezuela I have a solution to your problems,
STOP VOTING ..you have VOTED yourself into a shit-hole …(YES YOU DID )therefore when you find yourself living in a Shit-hole the first thing to do is stop digging,stop making the hole bigger .You are probably voting with the MAJORITY in your community ,like all Democratic cities .You moved there because it was a nice place to live,then you started voting and it turned into a shit-hole .Same applies to NYC,LA,San Francisco,Austin,TX ….You and your kind have turned it into what it is ,you are the majority arent you ? STOP blaming someone else ! your the MAJORITY STOP VOTING you IDIOT !
You made it a point to specifically tie Iran and Iraq together as one in the same yet Iran of 2019 has so much more operational abilities than Iraq of 91′ did since Iran’s method of engagement will be asymmetrical. Iran has drones constantly giving live information on U.S. movements in and around their borders and coast, Iran has ELINT capabilities to assess what the U.S. is planning on doing, Iran has the kinetic option to destroy U.S. naval assets and U.S. air force bases in Saudi Arabia, Qatar, Kuwait, Bahrain etc….Iran can and will call upon its allied militias in Iraq, Syria and Lebanon to start attacking U.S. interests in the region (bringing in Hezbollah into the equation is a whole other ball-game).– Iraq did not have any of this but Iran does. Iran is a different beast to tackle due to its nature of networking and fortifying stratergic assets in-case of a shooting war.
The bases have a natural defense, that being the mountains and as aforementioned, these underground bases have earth moving equipment to bore new holes if need be. The efficacy of stand-off U.S. military munitions will be tested greatly, these mountains are sharp and jagged. I would surmise that the US military will have to fire large salvos of tomahawks and other stand-off munitions due to attrition of the missiles hitting the terrain or not getting the desired effect they want. This is all happening whilst Iran is raining 100s of missiles on U.S. bases all over the Middle-East. This is something that Iran can keep up for a good amount of time, so don’t think it’s a one and done kind of thing. Some other things to mention are the various weapon platform Iran can employ its missile arsenal on; TELs, Trucks, Stationary batteries, mobile trucks that house missiles inside the Cabin, submarines: many of these are mobile and are hard to retaliate against no matter how good your reconnaissance and Air-force capability are.
To sum it up, Iran’s mountains will defend Iranians strategic assets during the onset of the war, forcing the U.S. to have to put boots on the ground
The crucial fact is that Tehran rejects a new negotiation with the White House “under any circumstances,” as expressed by Hossein Dehghan, the top military adviser to Supreme Leader Ayatollah Khamenei.
If a war erupts in the Persian Gulf, the oil prices will go sky-high regardless of the supposed safety assurances the U.S. can promise. Fact is Iran has the ability to wage a war of attrition, Iran can and will blow-up tankers in the Gulf and once they start going up in the smoke, there is no stopping that downward spiral.
Dehghan once again made it very clear that in case of any sort of military adventure, every single base of the U.S. Empire of Bases across Southwest Asia will be targeted.
This neatly ties in with Iran’s by now consolidated new rules of engagement, duly detailed by correspondent Elijah Magnier. We are well into “an-eye-for-an-eye” territory.
Iran has the kinetic capability to close off the straight of Hormuz via its vast array of coastal and inland Missile batteries (most of which are not known to CENTCOM as of yet), large submarine force and large navy which can in quick order, lay mines in the straight. Furthermore, Iran employs a very old but smart strategy containing the use of decoys, multiple redundant missile bases, underground missile factories (with earth moving equipment inside to dig exit holes out of incase of cave-ins due to bombings). Iran has shown the capability to precisely hit targets far-away with great accuracy using mobile weapons platforms that are intrinsically hard to retaliate against. Once Iran fires a highly deadly salvo of Khalijeh-Fars missiles or Fateh-313 missiles, or Dezful, or Fateh-Mobin. Those trucks are long-gone from their original firing place. This same idea goes for Iran’s very impressive AD network.
There is another layer to this that must be stated and it’s sad that many people seem to just gloss over this reality. If a war erupts in the Persian Gulf, the oil prices will go sky-high regardless of the supposed safety assurances the U.S. can promise. Fact is Iran has the ability to wage a war of attrition, Iran can and will blow-up tankers in the Gulf and once they start going up in the smoke, there is no stopping that downward spiral.
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