Fully- I think you’re talking about AADD but you dropped a character. Maybe you were distracted momentarily between typing the first “A” and the first “D”. I enjoy the affliction myself, adult attention deficient deficit dis-odor but anyway nice to see Gold going up over the long (10 year) term.
Bill H:
U.S. States and Sovereigns
To all; the talk has recently been all about Greece and the PIIGS because that’s where the media has steered attention. Of course Moodys downgraded Greece and the media went on it’s “the Euro is dead” frenzy at a most opportune time as the Dollar was looking very sickly on the charts at the time. Divert attention in other words.
Attention was diverted from several (many) US states that were and still are walking financial zombies. California, New Jersey, Illinois etc. are running deficits and debt levels similar to and in some cases far worse than Greece in percentage terms. What is truly humorous is even with retarded budget projections the numbers aren’t working. How many states have “proposed” budgets that have turned out to be pie in the sky dreams after only 6 months? The tax revenue projections that have and are being used by many states are so far out of whack that the ink doesn’t even get a chance to dry before a 3rd grader puts a pencil to the projections and figures out they are wrong!
This goes for many big cities, counties, and municipalities. The point is…EVERYTHING is broke! The only thing not broke is the stock market but that’s only because of the PPT support and rigging. Unemployment insurance is being extended further and further into the future while tax revenues decline. Much of the so called “employment” has been in the public sector that will obviously weigh further on all government budgets. It is not sustainable in any way even if the credit markets don’t seize up.
Anyone who doesn’t believe we have a stock market crash and train wreck directly ahead must believe we have a hyperinflationary event coming immediately or they can’t do math. You cannot have sovereign governments, US states, cities etc. (and federal government) on the verge of bankruptcy and stocks not panic and stay at these levels. In my opinion the only justification for “Dow 10,000″ is the probability (guarantee) of hyperinflation, period!
There is no recovery in real estate, employment, main street or anywhere else except for Wall Street because of the $ trillions pumped in and running through it’s veins. About once every 10 days or so we hear about the Fed raising rates and withdrawing stimulus. This cannot happen without an immediate fatal heart attack to Wall Street and Main Street taking a final body blow. It is now and has been for years, “inflate or die”. The Fed is having a difficult time “reinflating” with their foot through the floor boards on the accelerator, taking their foot off the gas (not to mention tapping the break) is entirely out of the question and nothing more than poor humor..
It is now only a matter of time before investors get spooked by the fear of sovereign defaults spreading like a disease. The day is not far off where ALL paper gets shunned and real money gets bids that swamp actual supply. Once the thought process turns to “there’s no place to hide”, the amount of fake capital trying to enter metal and the ridiculously small Gold stock arena will bid these assets to never before dreamed of values. When there is no place to hide “within” the system, capital will move outside the system.
The problem is very very simple indeed. This week alone the U.S. Treasury is borrowing 1 1/2 times the entire annual global production of Gold. And how much have they borrowed the week before that and the week before that…? The math is impossible and the lifeboat far to small to accommodate anyone even 1 second too late! What could “never happen” 2 or 3 years ago has already happened and then some. Now we wait for sovereigns, U.S. states and cities, even the U.S. Treasury to default………..or hyperinflate. It is only a matter of time now and no longer a question of if! Regards, Bill H.
he will be calling a few folks. he said the flintstone project is going great.
rno
….A Swedish Romanian Aetheist…so you’re a Blond Gypsy with no Soul ?
Lumber again shows gold trading sham
Bill,
Once more I turn your attention to “unfettered lumber”, or, the mirror opposite of the corrupt gold market. You almost have to pause after reading each sentence below to savor it, for such experiences have NEVER happened in gold the past decade. This is again from Brian V. Leonard/ Leonard Commodities:
The market continues it pre-expiration rally. Again the market was caught short. May finished limit up for a second session. March finished up $10.20. The March contract follows the cash market up as buyers come here to get covered. The price out there was quoted at $278.00 and trading. The issue again is availability. That problem has come into play during the last 2 expiration phases and again is showing up.
The market is up $130 dollars because of the cuts in production. We continue to see a tightness in many items and that never really gets corrected. So when things slow there is enough supply, but when activity picks up the market place becomes tight again. My point is that we are not over supplying the market place at this time. The market is under supplied for certain items, but doesn’t look that way when it is quiet.
So to summarize:
* Lumber rallies into contract expiration.
* The lumber shorts are getting squeezed.
* Two consecutive limit-ups.
* Futures must catch up to cash.
* Futures recognizes availability of physical as the issue.
* Repeated short squeezes at contract expiration.
* Lumber up $130, or 75% in very short order.
* Recurring physical tightness reflected in futures trading.
Until any of these experiences ever happen in the gold market the CFTC is willingly turning a blind eye to the corruption. You’d have to be an imbecile to not see the rigged and controlled gold trading patterns versus a commodity that isn’t burdened by manipulation. For gold to have put in the same performance as lumber the past few months it would have went from $1,070 to $1,855, with several days of +$70 or more, and a few back-to-back gains of $140. THAT’S what a free gold market would look like. But then again one or two bullion banks aren’t throwing the kitchen sink at lumber longs. Lucky them, eh?
James Mc
It was a wild day and one of the truly farcical manipulations in American trading history. Early on I felt some genuine excitement. Silver was soaring and gold kept coming back from blatant takedowns. But THEN…
-Gold was bombed FIRST and then silver was absolutely brutalized after its breakout.
-Crude oil was soaring, but then suddenly reversed to go down on the day. Crude oil fell from $83.03 per barrel to $80.31 BUT it then came back following the Treasury auction to close up 60 cents per barrel to $82.09.
-Platinum crashed from $1615 to $1575.
-The DOW is usually orchestrated to the downside ahead of a Treasury auction when the Treasury needs help. It went from up 40+ to down 20+. Then recovered after the auction results were announced and finished the day a pinch higher.
13:02 10-yr note auction yields 3.735% with 70.94% allotted at the high
•Bid/cover 3.45 vs. avg of past 10 auctions 2.77
•Indirect participation 35.1% vs. avg of past 10 auctions 40.3%
•In reaction:
2-yr (2/32) to 0.82%
5-yr (7/32) to 2.3%
Dow 10558.75, (5.55)
* * * * *
The yield on the 10 yr T note then fell back to finish the day at 3.72%.
Meanwhile, the dollar closed LOWER, down .10 80.48 …really bearish for the precious metals eh?
The CRB only fell .17 to 274.62.
There is no other rational explanation for what occurred to gold and silver except the one emanating from the GATA camp. The commentators on CNBC never appeared to be so Muppetish as they were today. Blah, blah, blah about nothing. Besides being so naïve and pathetic sounding, they are becoming more and more like Pravda of the broken up Soviet Union. Jesse on that score…
Propaganda Campaign Attempts to Mask Economic Risks and Reality
In addition to the media blitz dissected by Yves Smith in the essay excerpted below, I have never seen such a load of rubbish being put forward with regard to the markets in US financial assets and commodities, and I have seen quite a bit in the last twenty years. In particular, the campaigns against gold and silver in particular are heavy-handed, obvious, and reaching the point of hysteria.
The shorts are trapped, hopelessly trapped, and unable to deliver on their massive short positions. They are only able to manipulate the price in short term bursts, and continue to dig themselves deeper as the world demand continues to drain them.
Whoever heard of a bubble in which the major money center banks are so perilously short it? A bubble requires a broad participation and belief, and the encouragement of the market makers. And now a statement from an “SEC official” that there is a gold bubble. This, from the very people who allegedly could not see the tech, housing and credit bubbles.
And of course there are the funds and the wealthy, who mouth the same party line while lining their portfolios with huge positions.
They can require all the big players to make statements swearing gold and silver are no good. But the fact remains that the US dollar reserve currency regime is falling apart, tumbling like the humpty-dumpty construct that it is. And the status quo is shitting their collective pants about it, and the likely backlash from an outraged public when their deceptions are exposed.
jessescrossroadscafe.blogspot.com/2010/03
/propaganda-campaign-attempts-to-mask.html
***
Like, I’m from southwestern Saskatcheawan, you know, where the religion of one’s parents dont mean a lot to other people, eh? My pa came from Sweden to Canada, eh, and my mum came from Romania to Canada as a baby, eh, in 1904. They didnt bring religion with them. In fact they gave lots of signals that they came to Canada, in part, to escape the shackles of religion. So we never went to church where I grew up in Saskatchewan. So I ended up being an atheist, eh? It was sure nice to hear your background and compare it to mine. I sure hope we can be friends, eh? Cheers. Equiz.
Dave from Denver notes…
This is absolute bullcrap
No news which triggered this gold sell-off. None. In fact, we’ve dropped over 20,000 in o/i in the April gold contract over the last 2 days. Only part of that was rolled forward. My fund partner, a technical/chart expert, believes that the action points to the cartel covering aggressively here and setting themselves up to manage the price at a higher level. The behavior in the o/i shift supports this, as 1/2 of the April drop in o/i has rolled into June, October, December and 2011. Net we’ve dropped about 10k in o/i over the past 2 days and I suspect we’ll see another drop today, or if they covered on this smash, they’ll reload some of what they covered if we bounce later. This is absolute, corrupt horse hooey. This manipulated smash should be bought aggressively.
Macs are so much better in everything they do, only a pea-brain…well, I’ve already said ’nuff.
China’s exports rose more than forecast in February and posted a third straight gain, a rebound that adds to pressure on policy makers to pare back stimulus measures adopted during the global recession.
Shipments abroad gained 46 percent in February from a year before after a 21 percent advance in January, the customs bureau reported on its website today. Year-ago figures were depressed by a contraction in world trade resulting from the crisis. The trade surplus hit a one-year low of $7.6 billion, affected in part by the Lunar New Year holiday.
The strengthening in exports may reduce excess capacity in manufacturing and contribute to price increases. Premier Wen Jiabao has cited price pressures, along with property speculation and loan quality at banks, among his top concerns for this year.
Imports rose 45 percent after an 86 percent jump in January, today’s figures showed. The advance underscores China’s rising role as a driver of global growth.The export gain in February was more than the 38.3 percent median estimate in a Bloomberg News survey of 28 economists. Imports topped a 38 percent estimate and the trade surplus was in line with forecasts.
Throw out the bigots and those who would stifle conversations that give us insight into what’s happening in our world. I could make those calls rather easily from what I’ve seen so far. By the way, I like most Jews and have loved Israel since I read Michener’s “The Source” many years ago. I’ve known about “The Liberty Incident” since the sixties and I don’t like it anymore than the many cover ups that all politicians seem to prefer. Bring every thing out in the open is my choice. BDC
why?! doncha wanna get stoned?!
“Stone the Rabble Rousers”
…but..now that you mention it…I see how it could work
With a slight modification to the wording, FGC might very well just go straight to instituting your suggestion, without a vote. He could become the happiest of repeat offenders. Try this:
“Don’t necessarily want to see more discussions about Israel or Jews, just do not inhibit rational debates by honest seekers of knowledge and truth. Stone the rabble rousers!”
….You make the call….who gets thrown out for what ?
Don’t necessarily want to see more discussions about Israel or Jews, just do not inhibit rational debates by honest seekers of knowledge and truth. Throw the rabble rousers out on their ear. BDC
Ha! You don’t think that’s going to get you off the hook in the PC v Mac battle do you?
I think you invented a new word. “anythism”
Beautiful.
…I was born to Jewish Parents…had a bar mitzva at 13 and havent been to a synagogue since…save for Weddings and Funerals
…..I Eat Pork….Milk with Meat…Married a Shiksa…Work hard on Saturday…and wouldnt know what to do with tfilin…!
…..I have experienced a little Antisemitism…but not a whole lot…its no worse than anti anythism…unless its directed at you !
…..I admire Israelis for their tenacity and courage and industriousness,,,albeit
,,,,Their Government is Probably Corrupt….like any Government…
…..Am Not a member of the JDL or ADL….but I have ADD
Do the Israelis have GBV?
I would like to see more discussions about Israel and Jews at Goldtent !
Yes or No
It is absolutely mind boggling that anyone besides the Fed and their primary dealer henchman would buy 10 yr. treasuries. Hey maybe the economy really is getting better, gawd knows the media has been telling us everyday how much better things are.
Gold down, the S&P up for the 6th straight day. Unbelieveable.
Fully, why not poll everyone and see if more than two percent would like to see discussions about Israel and Jews continue. They are part of our world and deserve consideration whether you or some narrow minded posters agree with what’s being said. Recommend also that you invite those who take exception to intelligent conversation to take their stupid comments to the chat room (Stupid comments being not rebuttal but the playing of the racial or religious card). Seems like you are letting the ignorant control dialogue when they threaten the peace and harmony that normally reigns here and because it makes your job a little easier. JMO BDC