...the average Joe worker, you and me, will REACT, and that's why you keep hearing about the Stanley Drunkenmiller's huge fear-trade into GLD to the tune of $130+ million, along with Carl Ichan's recent tome and warning about the huge disparity between CEO pay and regular-Joe's pay, and the hugely sour Market we may be in store for....
These guys don't normally blow-blue-smoke, and sound an alarm bell. These are huge hedge fund leaders, who have seen the obscene wealth gap that has taken shape these last x15 years, as a strong, viable middle-class American has been pushed further and further into service-caliber, part-time work, and lower-and-lower real wages.
In reality, the type of world we live in should be pushing gold to all-time highs, but instead, we've seen the exact opposite, as the Fed, tries everything in its play-book to keep the charade marching-on. But fundamentals do matter and in the end of every great civilization, that's what determines "viability, growth and staying power". At the demise of so many cultures past, is unprecedented corruption, fraud and manipulation at maintaining a "appearance of strength". B/c of all this, that's why you have a candidate like Donald Trump leading in the poles, b/c even though he's a "successful businessman and misogynist ", deep-down people and the citizenry know "we are in trouble" and we need significant real change if we stand a chance at being a strong country, economy and power.
All this said, I am stuck in the some gold options dated 2017, and I sit-by and watch them wither day-by-day, but I know gold will have its day, especially as the fraud reaches its maximum sustaining power, and folks realize "what's there really left that has value"? But from what level that POG will shoot-up from, or how long the Comex can't distort, I don't have a clue. I suspect, just like coal, many oil plays, other basic materials and commodities sector, many bk's can ensue first.
GLTUA and heaven help us all, im
Thing is, not one CEO from any of the gold-miners, junior or majors, has come-out in support of now a Swiss investigation, along with a supposed Justice Dept "possible investigation" that we've never heard another word about, since it was announced this past Summer.
I've come to the conclusion, with the Comex's nearly 100:1 derivatives-to-actual-physical-gold "paper products" (that's huge funny-money leverage, btw), is a totally rigged-to-the-hilt, out-right scam. It's almost "what's the point"? So much of our Markets are like this, yet it goes on-and-on-and-on, and imo, even though we haven't seen the fruits of such fraud market-wide yet, we will, as such seeds have been thoroughly sewn. We'll see it with the Fed's attempt to "normalize" from an obscenely abnormal intervention, which imo, sealed-the fate of the Market's big demise, in it's "way over-board, gargantuan US bank-and-corporate well-fare give-away, to the tune of $4-trillion", yet we like to act as if "nothing much happened, and any day now we will RETURN TO NORMAL". There are so many duplicitous, conniving, disingenuous and outright fraudulent dealings in the broad Markets, that they have become pretty much un-investible, imo.
I would say, about the only thing one could possibly put their money into and have it do well, are the smatttering of New American companies that come public, and represent a sea-change in the business they offer, and are new-and-fresh and not as subject to the dictates of manipulation and fraud; But these are far and few between, especially as many companies have recently held-off coming public in our recent "down Markets".
Fraud and manipulation in the Markets are now commonplace, and have lined corporate Wall-Street's pockets since the Treasury and the Fed gave-away-the-store, on top of stealing people's homes during the CDS/CDO debacle, which never has been "reconciled or corrected", but only made more perverse. One of these days, the average US Joe working will....
That "Dr" is a cook. Do a Google search of him, and you'll see, he's simply a shill for the gold-bug industry. I'm long some gold-options btw, but I don't appreciate the "gold propaganda industry". Anyone who has listened to these "gold prices to the moon calls", are now staring bankruptcy/default in their investment dollars. Gold prices will rise again, but it won't be at the behest of these "cooks-and-gold-pushing crooks". Guy should be called a "Dr." unless he's a "doctor of bowel movements". All imo, and no personal offense!
PS: Him and Peter Schiff need to have tea together, in golden cups, and they can spew some more grand postulations!
I can't resist a bit of sarcasm here-and-now; So here it goes:
"Hurry, we need to tame this rapid inflation ever-to-come...hurry, b/c wage-inflation is set to soar, lol. Hurry, inflationary pressures are building like an H-bomb, and we've better get-ahead of this madness and raise rates this year! That will show how strong our economy actually is. Never mind that commodities across nearly ever class imaginable are falling as if we are headed for a "Depression" (if you look to commodities as a read-or-take on the trajectory of the broad "health" of the economy, you'd conclude that it is SCREAMING DEPRESSION COMING....When's the last time commodities were this low? 2008!)
So yes, hurry-hurry and raise interest rates before this killer inflation takes hold! LOL...lol, Fed backed in a corner...now what? I like to fill-up my Prius for $1.78, so for $12-bucks, I get 425-miles, not bad!
Yes, throw-away the only thing that has sustaining value (while remembering that it's totally a rigged-market anyway as referenced in the above article), get scared, b/c everything has been turned on its head, corporate paper is over-valued about x2-3 b/c of Fed-play, and through "rigging, cajoling and out-right fraud", the pm's are getting tanked, to obfuscate all the charades of "Father Fed, Corporate Greed and Paper-Play". Sometimes we have to learn the hard way! Brace your selves, imo! S&P down -144-points or -3.09% Buh-Yah!
I wouldn't buy "here-and-now" to recoup losses. The real Market swoon hasn't really begun yet. Soon, folks will see what unprecedented $4-trillion-dollar Fed-intervention does to Markets, when that support is pulled-from-under. Welcome to the beginning of 2008, fresh in the making, imo.
Yes, precious metals will get dragged-down too, into "penny-stock territory", then you want to be very selective and buy the ones with the least-amount of debt-to-equity. I'm waiting to buy to "recoup" losses, but we're simply not there yet, imo!
I'm sorry, but I don't think you realize the extent that "corporate paper" is "getting a hair-cut and going to get sheared". The "trimming" is 1st-batter-up, 1st inning, with the game totaling triple over-time, imo. Hang-on, and short-at-will. The only real things with true value, are getting manipulated down as well. Google "Swiss authorities probe 7 banks for suspected metals price fixing", and you'll see what kind of world we live-in.
I predict Oct will bring some of the most ferocious selling of paper-assets we've seen since 2008!
Copy-past the above headline to read today's news!
Copy-paste the headline into Yahoo-Finance search above, to get the full story!
Surprise, surprise. Copy-paste the headline into Yahoo Finance search above, and read for your self!
Reverse split would spell the end of this Co., as a publicly-traded entity! It's more than a big-deal, it's a end-of-HMY deal, and one might as well start shorting the next minor "pop" if one wishes to make a dime of HMY, imo! Sad that management feels this way, and is willing to let-this-happen. CEO's resigning too, so no telling what self-destruction HMY has planned for itself. Shame is, the balance-sheet isn't that bad, compared to some more viable miners. There's a better way, but maybe management is too weak to seek it!
Good reply "apax0260". I agree with you, this should be seen as a "positive" on many different levels....
Gold should take flight, "if" the Fed doesn't raise rates, and we now learned that they didn't. But I'll caution, I have seen the Markets so manipulated, that nothing surprises me. Still, gold should have been a big safe-haven trade during the last big Market drop recently, but as we saw, nothing. Why? B/c, imo, the Fed created one of the largest stock-asset bubbles we have seen, and everyone and their brother (a few pundits aside) have ridden on the Fed's back, carrying stocks to un-warrented hights, and as long as people can believe in the story, namely that stock prices are justified with our real and current economic growth, then "why fight the Fed", and why be near lunatic, and "buy gold".
Well, I for one am not a believe in false premises, no matter how big they are. The Fed isn't, never will be and can't be, the real value-creator of stocks. That can only come from the "free hand of the Market". Will people realize that the "free hand of the Market" has been so suppressed and controlled by the Fed, and really begin to question "where we really stand value-wise with paper assets in the Market"? I personally can't say with conviction, b/c I've witnessed one of the largest, most profound and "controlled experiments" in setting asset prices in the Market, ever witnessed in modern history. Time will tell, but if capital really begins to question where true value lies, then gold may get it's dance, ahead of and into inflationary times, just like its run from $900 to $1,900 in 2008. We'll see, but I'm not holding my breath.
Fed rate decision today will determine gold's direction short-term, and "inflation", if it ever appears, will determine the more long-term trajectory, imo.
Yeah, many other gold-mining stocks could get stuck-below-a-buck, such as KGC, and AUY, and I'm sure there are others, but with these decimated prices, it's almost as if they are trying to short-kill them, like they did the US-coal plays. I've given-up on "the logic of pricing these things for bankruptcy"; Rather, there is so much more at play, and it's "all about the Fed", as with the pricing of so many other assets are.
We'll get a more clear picture tomorrow, but I'm not holding my breath for much concerning "gold" given how it has been decimated so much beyond normal "free market pricing". GLTA! eom!
Don't hold your breath; When markets are this manipulated, throw-reason out the window; They've found every reason under the sun to sell the Comex Gold market, market-up, market-down, gold-prices up, gold prices down, fear-of-this, fear-of-that, to raise rates, not to raise rates, and any other reasoning you can think of, still the same result: GOLD DOWN-DOWN-AND-DOWN!
Why would it be any different come rate-raise-or-not time?
Nothing surprises me any more and I mean nothing. Our Markets are puppet stings of the Fed, pure-and-simple! They control stock-asset-prices, the USD and the Gold price!
With not public input whatsoever, even though we residents live within 1-mile if this new mega-store, being built off Exit 14, I-40 in Memphis, TN. Plus, it's next to a Tennessee Imperiled waterway, and they are only required a 60-foot buffer between massive run-off, oil-coolant fluid from people's leaking cars, and imperiled Fletcher Creek.
Sound like a company you can invest with "for the future"? Progressive companies don't conduct business like this, but rather, juggernauts that are trying to reign supreme, while the ground crumbles beneath them. Reminds me of the McDonald's menu, although I don't think their so egregious to the public's welfare, environmental wise, not cholesterol-wise, pun intended.
Sentiment: Strong Sell
The more you see these gold stocks get crushed, the higher-and-higher the paper-stocks are given to run, and told that "they are the ONLY GAME IN TOWN", and consequently wanted to be lifted ever-more high by the USD-club and corporate culture, that were given $4-trillion by the Fed, after raping the consumer in 2008, the more I know how rigged the Comex is. It's too funny at this point, and the more perverse the manipulation of our markets is showing to be, the more I know just how un-stable our capital markets have become the world-over, since everyone and their brother is QE-ing!
A new Super Wal-Mart is being built, in a FEMA 100-year flood-plain, next to an imperiled waterway, where migrating Canadian geese used to land (until they recently bull-dozed the land), hordes of deer would feed at night, and fog would roll-in off the river-bottoms.
This is happening at Exit 14, off I-40 of east Memphis. They thing that is so reckless about this particular development, is that there are so many other sites close-by, prepped for re-development, that are "for-sale", and that folks would welcome. This development, on the other hand, is "encroaching, egregious, and not-in-keeping with long-term conservation values". It is this dis-regard for the public good, that has tarnished Wal-Mart's image, and made it an "enemy of the people", not a enabler of a greater good. We don't live in the 1900's anymore, where there were bunches of open-lands, in need of development. Rather, it's the opposite. We need to conserve and really be conscientious about our effects on the planet and our surroundings. If Wal-Mart wants to prosper, they must truly look-out for their shopper's environs, wanting to keep their business from becoming run-down Commercial, blighted and of un-aesthetic appeal, while building upon "endangered and sensitive lands".
I couldn't give investment dollars to an outfit that robs me of "peace-of-mind", exacerbates destruction of wildlife and habitat, and isn't concerned about the public's well-fare above corporate profits. Corporation with respect and staying power, honor people, and that means, honoring our home-environments.
This is a bad idea, as we already have x2 Super Wal-marts within 6.1 miles of this proposed "environmentally damaging one".
Sentiment: Strong Sell
It's all about the Fed. In that day and age, the Market traded more on it's own scales. Now-a-days, it's massive Gov. intervention, a dissing of anything of inherent value, and a huge effort to push stock-valuations through the roof---of nearly everything "paper", but the opposite for hard-asset based corporations.
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!