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

This is a doozy. The carnage in tech is something to behold. NVDA down 13+%, TSLA down 10%. They’re like pm shares today. We’re used to it, the folks holding tech have seen those things go up daily for 13 straight years or more.

Bitcoin too. Down 13%.

Heck, we take beatings like that on a regular basis. This is a piece of cake for goldbugs. Imagine the panic amongst fund managers and overleveraged banks right now, some who may have never seen anything like this. Some dirty drawers this am. Same with the new breed of 20 and 30 something “crypto traders.”

I almost feel bad for them…well not really…. 🙂

I think I’d rather be blind deaf and dumb today!

I thought that we’d seen massacres in the past … but they were nothing!

No news is good news? 🙂

Always interesting to me that when there is some sort of turmoil that the dollar seems to go down against the Swiss Franc. The Yen up near 3%.

Crimex now open, panic selling ensues, will anyone step in front of the freight train? Too bad the banks don’t have to cover their positions, they carry enough of them.

Just once I’d like to see the mother of all comebacks.

QQQ’s down over 5.8% Course the only index doing worse than that is the HUI. Set to open down 7% Comedy.

2001-2002 redux? They’ll call this the Buffett crash of 2024

I wonder what’s breaking under the surface?

Welcome to goldtentoasis. I remember you from long ago.

To the people at CEO.CA. If the Captcha Hell you have created does not work properly then few people will be signing up!

Bitcoin is down the least of the crypto’s, ether and litecoin are down 15%. Hopefully taking their rightful place with tulips in the dustbin of history. Snake oil.

So, when I look at gold down less than 1%, it doesn’t seem so bad. OTOH, when I look at silver down $1…it seems bad again. 🙂

Silver is just mainly an industrial metal, especially during market downturns. There are a lot of funds with long positions in silver, no doubt they’ll be puking. Banksters win again, simply brute force.

China lied and ended up buying 53 tons of gold in May, after saying they’d stopped buying. Imagine that.

Got a pretty good storm here the last couple of days. Didn’t expect the 95 mph wind gusts, but still have electricity praise God. Some awesome thunder and lightning, just beautiful. Only 5 inches of rain in the last 24 hours though. We’re on the tail end now. Will have to help my neighbor clear the branches and palm leaves from his yard. It’s a mess, and of course pick up the stuff that’s blown over into my yard.

Hunker down. It’s going to be OK eventually. 🙂

Literally everything around the world is in crash mode. Nikkei down 12+% as the Yen climbs.

Bitcoin down 9+% to 52K (can’t say that bothers me) Oil down in the $72 range. PM’s down – Gold $20, Silver $.74 we never have held up in a crash, so no reason this time, I guess. Although on a relative basis, gold is a winner compared to platinum and palladium, which are down 3+% and even copper, down 2%. Not much of a consolation.

SM Futures getting clocked, Nasdaq down near 4%

Though the dollar is down, as well as rates. So, bonds are the clear winner with the 10 yr. down to 3.75%

NVDA now down 20+%, raging bull to raging bear. That doesn’t bode well for the Nasdaq, which is about 70% overvalued.

So much happening in the country and world. War in the M.E. expanding quickly. Hard to see the markets finding their footing for a while. On the plus side, inflation should come down, rate cuts are assured.

Buckle up. Long day and month ahead.

Like a Snow-flocked Model Railroad
https://railpictures.net/photo/845870/

What will they use this crash as an excuse for? Ever since they introduced compulsory superannuation (pensions, to you yanks and poms) they’ve been tinkering with it, taking more taxes, making you pay more, making self managed super funds more expensive and complicated to administer. My guess is that governments around the world, as bond yields rise, will simultaneously claim that super/pension funds are far too volatile to be a reliable source of retirement funds but don’t worry, the government is here to save you and will now make it compulsory for funds (from Vanguard down to the mom and pop variety) must hold 5% of their portfolio, increasing to 30% over the next five years, as government bonds for a safe, reliable annuity. This 30% maximum will, of course, never ever be increased. Nor of course (again) is this anything to do with providing govts with an increasing form of cheap finance.