30 September 2016

Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Report Next Week - Zimbabwe Express

"The mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining in the different States, and which are employed altogether for their benefit; and unless you become more watchful in your States and check this spirit of monopoly and thirst for exclusive privileges you will in the end find that the most important powers of Government have been given or bartered away, and the control over your dearest interests has passed into the hands of these corporations."

Andrew Jackson, Farewell Address

The only funadmental in this market right now is fraud.

Gold gave up a little bit and silver gained some to close out the week.

The delivery reports for October are now coming in, and gold was off to a bang as Nova Scotia served up bullion markers for all those standing for delivery. Silver was relatively quiet.

Recovery Is Arriving On the Zimbabwe Express

Larry Summers thinks that it is time for more governments to start propping up their stock markets more overtly by the outright buying of stocks on a regular basis.  But he did somewhat ominously admit that
"we are fairly near the end of the rope. Perhaps there is scope to reduce short-term interest rates a little bit more and to make them a little bit more negative. But there is not much scope.”
He also went on to observe that: "In a world where cutting-edge technology companies are awash with excess cash, it can hardly be a surprise that there is substantial downwards pressure on the level of real interest rates. Low neutral rates will be around “for a long time to come,” requiring policy makers to think more dynamically.
I had a chill run up my spine when the thought of President Hillary bringing him back into government again.  Heavens to the downward-spiral-of-elitist-new-era-thinking.

No wonder economics is a disgraced profession.  Some of its biggest and brightest stars are so conflicted by selfish interests and blinded by ideology that they could not formulate sustainable policy for a glee club.

Non-Farm Payrolls next week as noted in the economic calendar below.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - Jawboning Prosperity, For Some

Stocks rallied on a report that had been given from some source to the French wire service Agence France-Presse that Deutsche Bank was expecting to reach a settlement with the US Department of Justice of about $5.4 billion, considerably less than the $14 billion that the DoJ had been asking.

Favourable rumours notwithstanding, the US equity markets are surprisingly weak.

Their underpinnings bear little substance of firm and committed investment, which is a roundabout way of saying that they are in a bit of a bubble fueled by very short term speculation and price manipulation.

Therefore, one might expect that just about any significant exogenous event is going to bring this market to its knees. A failure at Deutsche Bank would certainly do the trick. But there are a number of other things that would also do serious harm to a fragile market structure based on hot money and fraud.

Have a pleasant weekend.

29 September 2016

Gold Daily and Silver Weekly Charts - Shocking, Positively Shocking

There was a whiff of more serious concern in the markets this afternoon.

Word leaked out in a news story that some of the hedge funds doing derivatives clearing with Deutsche Bank were pulling out the cash from their accounts.

The implications of this were obvious immediately to most. And risk assets sold off.

Gold and silver are still coiling under some market pressure from the usual suspects, loco London, New York, and Washington DC.

When the time comes for the metals to break free it may happen overnight from a shock in the financial markets.

My son missed the train crash in Hoboken this morning by ten minutes. Never so glad to have him answer the phone promptly.

God's tender mercies.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Should I Stay Or Should I Go

The indecisive markets took a bit of a plunge today when a news story reported that hedge funds using Deutsche Bank for derivatives clearing were pulling the excess cash out of their accounts.

The implications were that these insiders felt concerned about a disruption in access to their cash, and/or a greater threat of a 'bail-in' at the troubled bank.

Otherwise the risk factors still seem fairly calm, if not a bit cocky, on Wall Street.

Let's see if they can keep a hold on this asset bubble. Last one out the door gets scorched if they cannot.

Have a pleasant evening.

28 September 2016

No Updates Tonight - Bring Me a Higher Love

"You, you who kill my messengers, and abuse those I have sent to help you, how often I have longed to gather you together, as a hen lovingly gathers her chicks under her wings.  But you have ignored and spurned me."

Matt 23:27

Just another day in The Recovery™.

The markets are so boring I am taking a day off.

The precious metals options convert into new futures positions if they are 'in the money,' so any new longs are getting a bit of a gut check today.

Everyone is special. There is no one else exactly like you. And it is no accident, you were made just that way.

Everyone is lovable, whether they allow it or not, receive it or not, return it or not, because they are loved, unselfishly.  They are loved more than they love themselves, more than they love in return.

 They do not see what they already have, and in abundance— a higher love.

See you tomorrow.

Have a pleasant evening.

27 September 2016

Gold Daily and Silver Weekly Charts - A Quiet Option Expiration - Coiling

Today was the October Options expiration on the Comex.

The warehouses and deliveries were quiet yesterday.

Gold and silver are continuing to coil on the charts.

Not one thing has changed.

Do not be deceived.  What one sows, that also they will reap.

And the elite are preparing themselves a banquet of consequences.

You bring the butter and popcorn.  I will bring the salt.

Have a pleasant evening.