The dollar's most formidable challenger is silver.
With just enough value to form $50 silver pieces the size of silver dollars of just 40 years ago, same composition, nothing would bring the degradation of our currency more to the forefront in drunk joesixpac's addled brain than that.
What a hey, wait a moment --moment. Staring down at a silver dollar with the denomination one struck out, and fifty in its place.
Do you think that might get his attention?
That's why palladium and platinum are going through the roof as the dollar is avoided in the Middle East (there goes the petro dollar).
But silver? Nary a budge.
You can keep a submerged balloon down forever, just use phantom program trades to place bogus bets on any exchange, and you have a risk free cash free cheat as easy as weighting one side of the roulette wheel.
We'll see if Bennie takes a coffee break and silver eaks out from under after retail reports this morning. Gloomberg and yahoo have anecdotal articles touting frugality on the part of retail buyers this year, lots of thrift store and second hand store purchases--even the kids are showing some frugality.
Which augers a headwind PM.
I hope I am wrong. Being right doesn't help my pocketbook.
“…You just have to open an account…”
Exactly. Free chart services never required this in the past. That’s when there still was such a thing as a marginally free market. It’s nobody’s business what anyone’s investing interests are until a trade takes place.
YDM I agree, they can't "twist" again. It's going to be an attempt to drive morbid-ge rates lower (in an attempt to compel liquidation of the zombified "doesn't know it's dead yet" housing shadow inventory)
Look at the dollar tailwinds though...Deer got pummelled this AM as it's exports are too pricey, Brent is anticipating something and generally acting cagey, and a Grexit is all the rage again this week.
No way team Obama wants a strong dollar to aggravate ALL of that and more...so I expect more "prepared to act" talk out of Jackson Hole for now.
Ain't that a curious pattern for SLW you pointed out? I used to throw it up there against spot and the miners and it def. has that behavioral trend. Not playable at least with my limited time and low-tech trading arsenal though.
But someday this board will have a place in the sun. But...not....yet.
At Ryan level, he talks the talk of a Congress "worried" about building wealth on the basis of nominal changes to currency that only drain buying power. You won't get a smidge of difference in inaction from the other camp.
I just hope they don't throw us all under the bridge in January when they play brinksmanship with the Executive Branch on increasing the national debt, and extend the current tax cuts simply because of self fulfilling prophesy, now we are hooked on the Japanese zombie economy.
If Obama "incentivizes" business by stipulating a cost for not hiring American, NAFTA can be turned on its ear. Supplement for hiring here, penalty for hiring there, it adds up. Maybe toss in a GI BILL kind of benefit to the co to retrain the unwashed.
I like it.
Another obvious metal up evening, silver down evening.
SLW is not immune, but showed strength. Futures are down market wide, in spite of "good" numbers on retail yesterday. Sustainability is key, and worrisome.
This is a reply to your SPAM! comment, since those SOBs shouldn’t get the satisfaction of a reply.
tinyurl com/JustMoreSPAM (replace the space with a period to access)
It is spam for sure. They’re working overtime on this message board. Any attempt to put them on ignore is a waste of time since they continually invent new screen names.
Also have you noticed the price action in PMs. Spot silver (and gold, also), for example, for quite some time when it has fallen in price in other markets will immediately spike upwards when it hits New York. For example, at this writing, spot silver is up 45 cents in New York from the opening. This is high grade manipulation emanating from the criminal banksters meant to disadvantage anyone in the American market attempting to buy in at lower prices. The banksters really HATE what used to pass for relative freedom here and the people who seem to think they still possess it. Hopefully the time will soon arrive when people wake up with appropriate penalties similar to what is stated in the Coinage Act of 1792. Given the damage caused that certainly applies and can’t happen too soon.
There is also the disappearance of interactive charts, which are valuable for trend analysis in the US when they were available. The charts that do exist still are accessible, such as MarketWatch BigCharts, and Yahoo, but they provide totally bogus data, and in the case of Yahoo, interactive spot pricing. They are a kind of “in your face” statement on how the elite regard those who reside in the US as investors, but who are unwilling to pay for subscription charting services that formerly were free. It is noteworthy that free replacement charting services are taking place for US investors in other countries. One was discovered in Australia, but doesn’t provide trend analysis. Apparently the Australians can’t be forced to discontinue them, lacking in trend analysis as they currently are. Corporate fascism/socialism is really getting a grip on the financial markets in the US since the value of free charts represents the support of free markets in the financial sector.
If there is nefarious manipulation it's going to be subsurface and under deep cover ala Stuxtnet.
Maybe it's "silver the industrial metal" that's suffering.
Speculative money is not chasing the range-bound metals. The COT for PMs is still low and going lower.
Once "they" get the QE bazooka loaded, and quit just talking about loading it or pointing to how huge their cardboard projectile box is, $1620 gold will be the launching pad.
QE III better be something else than TWIST again, the creative refi we've been talking about, lowering the non important hurdles like loan to value to free up mo monthly cash for homeowners under water but unable to do a refi.
There is no joy in mudville until we see something, and even the Reagan rinse repeat cycle Ryan misunderstands is 40 years out of date is not going to help.
Hated to be right this morning, but,hey, it looks like those who do believe in a QE are resurrecting the SLW 2X rule.
Silver up a hair, SLW up double. That's very bullish.