Loading ...talk of delaying TAX FILING due date ! That would be a popular move this year ..!
Mr Copper–rescue-packages-zero bound rates-no payroll taxes-in europe rescue packages & sub-zero
rates–and governments round the world directly buying stocks and etfs—….and trillion dollar…and 50 billion–and 500 bill money managers are supposedly selling their 11 dollars and 23 cents of gold holdings to raise liquidity??….that’s the “cover stroy” for why gold is not going up in times of crisis.
Chinese Gold Stocks up
China Gold JINFF
China Natural Resources CHNR
Looks like GLD is headed towards negative
just another day of awesome for the “safety” trade.
Bonds are selling off a bit. Where the hell is that money going? Cash? Sure as shit isn’t going into gold, er gold futures.
R640 – good luck with those GDX calls. The only thing that might save you is the Fed next week, otherwise this shit will just keep going down with the SM
Maddog–yeah, it looks that way…I’m hearing a number of pundits on Bloomberg talking about going into a 2008-9 scenario
P,S,—18,190 calls bought yesterday on the GDX April 17th $31 calls—today 1600 bought with 34,481 calls open interest
I Just Heard On TV, Another Stimulative Package Coming, LOL,
The whole global economy has been living on stimulative packages since 9/11. I guess its the new normal. And like drugs, the economy gets immune and need more and more stimulus over time for the same effectiveness.
In my opinion the best stimulative package would be for the Gov’ts and Banks to just give people money that want to buy things they normally can’t afford. 
Cars Boats, expensive pets, houses etc.
A stimulus package is a package of economic measures put together by a government to stimulate a floundering economy. The objective of a stimulus package is to reinvigorate the economy and prevent or reverse a recession by boosting employment and spending.
Based on principles outlined by Keynesian economics, the goal is to increase aggregate demand through increased employment, consumer spending, and investment.
Stimulus packages may involve expansionary fiscal or monetary policy or both.
Vlad ain’t going anywhere until at least 2036
and he loves Gold.
Hopefully he is taking names.
R640
Seems the scum doesn’t like such talk…..
“Suddenly, the virus has coalesced into crisis. Now we find ourselves at the epicentre of a massive and expanding economic conflaguration. Any firm or individual relying on income to service debt is unquestionably going to face crisis as cashflow dries up. We are likely to see cascading consequences as one missed payment becomes many, and one defaults sets the dominos tumbling. ”
https://www.zerohedge.com/markets/blain-there-just-isnt-plan
Buygold
Sitting opposite piglosi must be a horror story…that face would give u nightmares for years.
A good friend of mine told me that a prominent and very accurate gold pundit-technician-highly regarded in gold circles-
has been and is super bulliish on gold and silver–he said that if we are in a 2000 scenario then $7000 gold possible in the next year to six years…if a 70s scenario then $25,000…and this pundit NEVER makes lunatic calls…and is no gloom and doomer–he has been super bullish on stocks for 10 yrs….so I was just looking at some long dated, waaaaaay outa the money calls on GDX
According to our GDX split history records, VanEck Vectors ETF Trust – Gold Miners ETF has had 0 splits. VanEck Vectors ETF Trust – Gold Miners ETF (GDX) has 0 splits in our GDX split history database.
GDX went to $60 in 2011–here are yuesterdays notable purchases
15,000 GDX calls on The June 19th $35 call were bought yesterday for $52 each—
4500 calls bought on the $32 strike for a buck each…
4500 GDX calls bought on the July 17th $35.50 calls
2800 calls on the sept 18th $36 call for 98 bucks each
2900 calls on the JANUARY 2021 $30 CALL for $269 each
Morning Maddog
So even Pelosi and Mnuchin met today to draw up some stimulus plan to goose the economy because of the virus.
Couple that with no doubt more QE and additional rate cuts in the next week, and it appears that the printing presses will be working overtime for the foreseeable future.
I suppose if we had real markets, that would be good for pm’s and the Aden’s would be right. However, we’ll have to see how things shake out.
Buygold Morning
It’s all keying off the SM…almost tick for tick….they clearly want to hold S&P 2400 Dow north of 24 K and make sure PM’s go no where.
Adens super bullish PM’s till 2026 !!!!…they also state they believe GATA etc…a big move in the Gold world, as the Adens are Gods.
Where’s 640?
What does da chief have to say about today’s price action.
Chuckle
So I guess gold is back en vogue today?
pm shares are back to being garbage?
Anybody up for another limit down day and halt in the SM?
Maybe not though because looks like Euro markets are up slightly and the Ten Yr. is only down a few ticks.
No doubt they’ll go after silver right at the open.
Fun times.
Back In The Day, But most folks bought their homes with cash; they had no mortgage interest to deduct. re The History of the Mortgage Interest Deduction
Another excellent article appeared yesterday in the New York Times regarding the home mortgage interest deduction, this time detailing its history and why most economists argue that it is bad tax policy. Roger Lowenstein explains the historical context of the deduction:
The first modern federal income tax was created in 1894. Interest — all forms of interest — was deductible; the Supreme Court, however, quickly ruled that the tax was unconstitutional. In 1913, the Constitution was amended and a new income tax was enacted. Once again, interest was deductible.
There is no evidence, however, that Congress thought much about this provision. It certainly wasn’t thinking of the interest deduction as a stepping-stone to middle-class homeownership, because the tax excluded the first $3,000 (or for married couples, $4,000) of income; less than 1 percent of the population earned more than that. The people paying taxes — Andrew Carnegie and such — did not need the deduction to afford their homes or their yachts.
There is another reason Congress could not have had homeownership in mind. The great majority of people who owned a home did not have a mortgage. The exceptions were farmers. But most folks bought their homes with cash; they had no mortgage interest to deduct.
When Congress made interest deductible, it was probably thinking of business interest. Just as today, the aim was to tax a business’s profits after expenses had been netted out, and interest was an expense like any other. In a nation of small proprietors, basically all interest looked like business interest. Whether it was interest on a farm mortgage, or interest on a loan to purchase a tractor, or interest charged to a general store that purchased its inventory on credit, it all would have looked like a business expense. Credit cards did not exist. So Congress just said, “Deduct it.”
It was not until the 1920’s and the spread of the automobile that home mortgages outnumbered farm mortgages. In the 1930’s, the mortgage industry got a huge assist from the feds — not from the tax deduction, but from agencies like the Federal Housing Administration, which insured 30-year loans, and, over time, the newly created Federal National Mortgage Association, or Fannie Mae. Before then, the corner bank would issue a mortgage and wait for the homeowner to pay them back; now savings and loans could replenish their capital by selling their mortgages to Fannie Mae — meaning they could turn around and issue a new mortgage to someone else. (Full Story)
The article is right – the mortgage interest deduction essentially treats individuals’ housing expenses like a business expense, allowing them to deduct it from taxable income. But the big difference between a business deducting interest and an individual deducting housing-related interest is that the business must pay taxes on the net income for which that expense was incurred, whereas no one pays tax on the imputed income they earn from owning a home.
For more on the home mortgage interest deduction, check out this recent Tax Foundation piece on the topic, as well as the blog archive.
PM price bashing
If prices go any lower I’m going to have to buy me one of those Nova Scotia motorcycles! They need lots of heavy metal ballast I hear. I wanna see him pop a wheelie!
This 1930’s image is from http://motoblogn.blogspot.com/
Deer79, Capt.
Agree with both of you.
They are going to cut again at the March meeting next week, probably announce some sort of QE, etc.
Let’s face it, the news isn’t going to get any better. I have to think despite the bullshit in the pm sector of the last couple of weeks, we’re on the right track.
Perhaps
The cretins are taking G&S down before a massive stimulus package is announced?
Buygold @ 15:57
Ugly no?
Should be good for getting rid of the critical mass of idiot Comex speculators with any luck however.
Cheers