The currency is meant to break the shackles of “the capitalist financial system of enslavement, underpinned by a piece of paper called the Federal Reserve dollar note,”
Apparently they are printing gold coins from gold they steal
That's more honest than fed reserve notes
Mp15loser is stocking up
Sentiment: Strong Sell
Thanks for sharing analysis. When I'm able, I plan to calc Fibonacci pts for current EW. Will be interesting to see if there is any correlation with your numbers.
Hate to say I told u so
"Other than bankruptcy of energy and miners no financial contagion
Equities will catch bids at 1900
Gold collapse resumes"
Collapse is hyperbole
Gold will grind lower till commodities bottom
Sentiment: Strong Sell
Interesting days on Thursday and Friday. I have to say, either some institutional traders or algorithms are hell bent on buying any dips in the market, or there is some kind of prop being enacted by the Fed here - perhaps massive purchases of S&P futures. Either way, it is supporting the market.
On the media front, Fed officials appear neutral on a September rate hike with the doves signaling a willingness to delay and the hawks signaling that it is still a possibility. I have pointed out several times in previous threads that a rate hike at this juncture would prove to be catastrophic for the equity markets, but apparently Fed officials do not bother to read through Yahoo message boards for opinions or facts.
China liquidated another $100 Billion in US treasuries in the last two weeks alone, but due to the action in the equity markets nobody has noticed. The proceeds went directly into propping up the Chinese stock market.
Gold ends the week at $1130/ounce, while the dollar ends up for the week. We certainly live in interesting times.
WHAT KIND OF FIAT JUNK SYSTEM IS THIS ??? ...we are to have faith in this garbage = LOL
And actually the trustee BNY (I think it's BNY) does the issuing of GLD units to APs to "buy" the bullion.
State street never touches investor cash or bullion ever, other than to get paid from trust for marketing and of course profits.
Sentiment: Strong Sell
I did some some peak-to-trough trend-linecharting, from year 2000 to 2015, and the consolidated point of exact 50% retracement showed a bottom just below $1,100
I'm skeptical, b/c originally I drew the chart's trend-line wrong on the peak of $1,794 on Oct. of 2012, and didn't include that peak-high, but when I do, I get a revised meeting-in-the-middle of the peak-and-trough trend-lines. We could have seen the bottom at $1080, let's see!
If you believe at all in technical analysis, it looks like GLD is entering into a 5th Elliott Bull Wave. I'll keep a close eye on trading volume during this 5th (last) leg up and take profits if trend begins to fade.
On Monday, August 24th, the Fed injected $18.54 billion from a “reverse repo fund” filled with cash accumulated at the end of QE3.
The $18.54 billion was exponentially greater than what has been previously needed to stabilize stock prices.
On Monday & Tuesday, primary dealers failed to move stocks up, because overhead resistance was too strong, and a tactical retreat left the DOW down by a combined 793 points.
On Wednesday, the Fed added $4.446 billion, and combined with a mildly positive durable goods report, the primary dealers succeeded in pushing the DOW upward by an astounding 620 points.
A September rate hike is off the table, but soon the Fed will have to accept a huge drop in stock prices or a return to money printing.
There was a time, pre-2007, when the Fed could move the DOW up or down by 100-200 points merely by injecting or withdrawing a few hundred million dollars. The idea of injecting a whopping $18.54 billion, in one single day, was something that would have been impossible to imagine. Times change…
On Monday, August 24, 2015, the Fed injected more than $18 billion dollars. In spite of that, the DOW dropped by 588 points, and by the end of trading on Tuesday, it was down a combined 793 points for the two days. What I am talking about? I am talking the sudden failure of the traditional methods that the Federal Reserve uses to control the behavior of millions of investors.
How they injected new money into the market, without actually printing any new money yet, requires a discussion of the little known concept of something called “TOMOs” and “REVERSE TOMOs”. At the end of QE3, the Fed collected just over $100 billion of the then-newly-printed dollars into a fund composed of “REVERSE TOMOs”. As you will see, REVERSE TOMOs work exactly opposite to the manner in which TOMOs work. So, to avoid confusing you, I must get into a discussion of what these two things are.
The Fed has been pushing markets upward by actively printing a lot of money ever since