Lord knows how many billions were just thrown at the dollar to turn it back…….utter madness.
Reversal complete
Dollar has come racing back, but the shares haven’t tanked completely.
Powell must’ve tried to downplay the cut, but he can’t do that without taking the SM down, and he did. This is all program selling and they’ve waterfalled silver, but the shares don’t look horrible.
We might have to wait until tomorrow, but the rally will continue. They do this at 90% of the Fed meetings, so no real surprise that they’d try to wreck the charts. Too bad we have to put up with this stuff, but we’ll just come back tomorrow and Friday, if not by the close.
NEM still up.
Mr.Copper
Re yr people can’t afford 18 %…….plus they would have to pay huge taxes, just so the Government could pay interest on it’s debt and tks to Clinton…..most debt is short term…like 5 yrs and less…so they have to keep coming to the mkt to rollover maturing debt……
As u say the numbers just can’t be made to work…..default is the only answer… !!!!
Meanwhile everyone will party for a few months as rates ease.
The Fed Knows The US Economy, or the People, Can No Longer Afford 20% Rates
Back in the 1970s, before massive imports, people could afford 18% on a $40,000 house. Also three year $3,000 for new car loans were affordable. Houses these days are $600,000, and cars are $50,000, explaining the 6 year 10% car loans common these days. The Fed would NEVER be able to raise rates to 20% with everything so much more, and general wages not keeping up with inflation.
- 1970: New, Dodge Demon, $2,652. Used, Camaro, $2,295.
- 1971: New, Ford Torino, $3,895. Used, Pontiac Firebird, $1,195.
- 1972: New, Ford Maverick, $2,140. Used, Chevrolet Malibu, $2,995.
- 1973: New, Mercury Montego, $4,281. Used, Toyota wagon, $4,595.
- 1974: New, AMC Gremlin, $2,408. Used, Dodge Dart, $1,195.
Houses in my area stayed flat from 1968 until 1982. The same with the Dow went nowhere flat 1968 to 1982. The Dines letter sent me a mailgram in June 1982 to buy the Dow at 796. From ’68 to ’82 every time it got above 1000, Dines called it “The Graveyard in the sky, above 100.
Here they come
the reversal off $2600
Silver goes negative first. Problem for them is that they can’t take pm’s down without taking the SM down too.
There are buyers underneath us though. The dollar’s demise has started.
Breaking out everywhere
Shares outperforming the SM, been a long time since we’ve seen that.
I have no doubt they’ll take a run at us at some point, but Powell doesn’t seem to be hurting us just yet.
I guess they saw all the buying below and gave up…….
Check the 1 minute charts on the 2 yr and 5 yr Notes …….carnage.
Guessing they did .50 then?
I haven’t seen the news but it seems that the party started.
Just got back in….
If u wanted to buy an awful lot of Gold cheap and in a hurry…. put yr bids below the mkt..for when the scum smash it on the announcement…..
Grazing the landscape
Everything pretty weak, which is how I’d prefer to go into the announcement, but I do notice that NEM is up.
Back in the day, NEM was a great indicator of things to come. Call me superstitious. 🙄
The most important Fed meeting in our lifetimes! Again – LOL
So, looks like with a .50 cut everyone’s happy and we carry on. If they only do .25, then everything crashes, the dollar soars, and the pm rally probably stalls for a while, or until WWWIII starts.
ZH has an article saying that all the traders are positioned for .50. I’m sure the Fed knows this, so will BlackRock tell them to pull the plug on all those traders, or will there be peace and harmony in the markets before the election?
Dollar is down a little to start, Bitcoin too. PM’s are flat. Oil down almost 1%. Bonds selling off, rates up almost 5 bips. SM up a little.
How ridiculous is it that everyone has to watch a group of unelected elites fiddle with rates to determine whether they win or lose? While no doubt the biggest players already know the outcome and are positioned accordingly. We live in a video simulation where nothing is real.
Thank God this life is temporal, and I am nothing more than vapor here in this gulag.
Ferret, Captain
Ferret- that’s interesting about your friends, I am Christian (God will let me know how strong 😉). They would be in a very small minority of Christians that would vote for Harris. Maybe 1 in 10 I’d guess. I don’t see how any Christian could vote Democrat based on their policy. Abortion is the biggest problem, but also the LGBTQ and gender mutilation with children, and quite simply there aversion to God but mostly Christianity being anywhere in society. All their positions are basically anti-Christ. Remember during Covid churches were shutdown, liquor stores were allowed to be open. I’m glad a light went on with your friend. I don’t understand how he doesn’t see.
Captain – if there’s an election, Trump will win, outside of Venezuelan type fraud where the Democrats just outright declare themselves victorious. Yes, there are some women that are single issue voters, but it’s not a majority. In real polling, I would encourage you to watch YouTube analysis that includes Atlas, which is the most accurate worldwide. Trump’s margins are high in every swing state and he’s even tied in Minnesota, If the election were held today, he would get around 325 electoral votes. He’s actually slightly ahead with women. His numbers with minorities are better than any Republican in history. True, there are many who have been blinded, but many more who see what’s happening in the country.
I think it’s more likely they just leave him an economic mess and WWIII, or they create a false flag and try to cancel elections and declare martial law.
Unfortunately, whatever is coming, is not good. We are dealing with pure evil and the prince of the air.
Gold Train
Executive Excursion
https://railpictures.net/photo/849549/
https://railpictures.net/photo/849546/
Eruption!
Full Moon, eclipse, King tides here, and Kilauea Volcano cracked open the East Rift zone and is erupting! Remote area of the National Park, no danger to anyone/thing.
Cap’n, 18:36
We had a couple stay with us for a few days, both very strong Christians. She’s a Kiwi, he’s a Yank. He said that there was no way he could bring himself to vote for Trump. He’s so obnoxious. I agreed that he is totally obnoxious, but asked him if that was it. What about policies? He was stumped. I asked why, putting aside personal animosity, he wouldn’t vote for an anti-abortion, anti-war, anti-climate rubbish, teetotal candidate with a fairly good knowledge of finance? No answer. But I think I detected a slight flicker of a thought process in his eyes.
Is that why the Kameleon is concentrating on his character? Her team realise that the average Yank cares more about character than policy?
Buygold, Ferret
I agree with both of you.
Ferret the only way they’ll learn is to find out the hard way but drag everyone else down with them. As someone said, “Humans are the only ones who pick the weakest in the pack to lead.”
Buygold one good thing you might have on your side is if the do eliminate cash I’m pretty sure De Santis will make your own currency. We in California will be screwed but then who knows.
Buygold @ 17:03
Don’t worry he won’t win.
He’s anti-abortion so brain dead women will vote him out according to some very smart people.
You got me on this one.
I can’t believe people are that stupid.
They expect you to believe nothing else matters.
Goldie, 11:02, the technical term is “useful idiots”.
Not only are they so gullible as to believe, without the slightest skepticism or effort to check it out, but, as you say, they then are useful to the people behind the green curtain as they parrot the lies to everyone else. Presenting them as indisputable facts because “experts”.
Some of these people are ostensibly intelligent, considered intellectuals (don’t get me started on intellectuals), and Nasim Taleb coined an acronym for them – IYI – intellectual yet idiot.
NEM finished up on the day
Smoke signal?
PM sector has almost traded like a normal market lately. Really odd. 😳
Goldie
That Whitney Webb video was good. As much as Trump is the only choice for me. I didn’t like his interest in becoming the Bitcoin player at all. I have no doubt that we will be back doored into some sort of CBDC here which will lead to slavery. Trump has to know the connection now of BlackRock to the assassination attempts. There is just no way for him to be advised by any one tied to the government now, financial or otherwise.
I like Trump but he’s going to have to make a lot of different choices if he wins or the machine will run him over and we’ll all be screwed. It ran him over in a lot of ways last time.
I won’t put my faith in him to be sure.
Oh wow Deja Vous
Amongst the multi problems of the Haitian plantation they said cases of HIV is going up. Apparently they weren’t screened for HIV or other STDs before placing them in our cities.American will be strapped having to pay their health care costs too.
Watched more of it. They said they’re paying them half wages and if so they’re subsidized with tax money and forced on and burdening city’s to enrich these slave labor factory’s and farms. Mayorkas should be charged with human trafficking.
Buygold
Looking into BlackRock Whitney does a good job of following the money.
Did you know and I didn’t that BlackRock was involved in the Obama Admin over the crash, again during the lock down a massive wealth transfer and profiting buying their own shares and then former employees are involved with Biden and Harris and we can see where that has gone with the economy. That she’s concerned whom ever becomes president with coming financial crisis of the current administration policy’s Blackrock will be involved and what can happen with Digital currency if Kamila gets in that can be surveilled and taken and Trump is interested in a independent Bitcoin that Bitcoin could be linked to the USD with stable coin then Blackrock can control them and link them to the government control not independent from the central bank.
At least Trump will listen where Kamila will run and hide and do whatever they want.
buygold
Re pagers
As u say genius……i wonder if they will go in ,now so many are hors de combat and their comms all ‘effed up…..
Maddog
If Trump sends them back home he’ll need that pot to piss on when he has to face the people of Springfield when he has no one to make him rich at their subsidy tax paying expense. They should make him pay double after that or shut the Nazi down and buy it for pennies on the dollar.