..
www.youtube.com/watch?v=e2Ma4BvMUwU
..
Africa ..
A journey of a thousand miles begins with one
One,, verry Courageous step ..
Once in a lifetime journey of Self Discovery and evokes Admiration and Respect ..
Pay Attention ..
Come Home Safe ..
and
RegalE us
of Memories ..
..
S C ..
..
Thanks.
I am going to have more fun with this bottom pattern than you can imagine.
aurum
….your jpg was a bottom line…and a no no….give it a rest
You should not have deleted my US Dollar jpg. Look at the confusion that caused.
On your chart you want a retest of the line then confirmation - still you persist in drawing lines with only two points. Move your line down to the many point area just below. A much more important line.
aurum
Okay I will assume I know what you mean. Any chart watcher knows you start at the longest chart (in duration) that you can find and work your way to the daily then hourly. Less than that IMO is unreliable. But you can go to 15 min - 5 min - 1 min.
Is that your point?
aurum
Still clear up the issue for me - if not scale then what?
Maybe the US Dollar jpg that Fully deleted. That was a joke - not my outlook.
aurum
I was trying to show chart scales can prove the points either way - depending on which charts one presents. Peace! Got to go watch a movie with the wife. Deadeye
PS: I edited out “wrong scale”
Sorry - your post confuses me. I am a US Dollar bull - DX Rally. My post was that a short term down is most likely to be expected. But that the shape of that will confirm it is just a short term down. In the big picture I expect at worst a trading range.
Explain wrong scale. On one area I agree with GR - fractals. I can expand this chart to whatever scale you wish and fractals - symmetry will appear.
BTW I was a geology minor.
Somewhere there is a miscommunication.
aurum
No offense intended But using a certain scale chart you prove your point. If you had a different opinion and viewpoint, you could just as convencingly use another scale chart to prove that also. Simply use a ten, twenty or thirty year chart and you can convence me or anyone that the dollar is going down.
I have seen Geologists do this very thing to prove a bad prospect or to disprove a good prospect that they had a bias against or maybe a bias against the Geologist showing either of those two prospects.
Please understand, I mean no disrespect and have no ax to grind. I am trying to educate as in my oil stories on IMDB. Where I have pointed out how important map scales are to see or not see certain things of geologic interests. I found a number of productive prospects that others bet their career that the prospect was false. They didn’t want to see and I wanted to see - so we each used our own (different) map scale. So very simple but so very important. Deadeye
did you give away MY house and critters???
rno
I am a bit disappointed that you did not leave my US Dollar jpg on the site. I really think it explained everything.
aurum
Close on March 31th USD Index 81.07. April close was 81.89 up 82 tics.
Looking at the start of 2010 USD Index ended 2009 at 77.92
How often have you posted a month with Gold and the Dollar both up ?
From closing April 30th to todays closing.
Gold 1215.70 Last month 1178.50 up $37.20
Silver 18.57 Last month 18.60 down 3 cents
USD Index 86.67 Close on April 30th 81.89 up 478 tics
Do you know sometimes I can be provocative…
I did post some of the plant and the inventory on the river…but now my digital is broken…I don’t want to pay Belizian prices and I can’t go back to states yet…I’ll find one to use …but have a lot going on ……see if I can get some shots as ponds get dug out….
I apologize if you or anyone else thought I was ‘bashing’ you. That was not my intent, and I’m sorry if you think I was a cretin. It is not you personally, nor your work, that I object to. It was just the senseless deletion of your hard and voluminous work. If you write a book, then for heaven’s sake don’t go tearing out the pages when someone asks “where do I find….?”
I can understand your frustration also at the questioning that you have previously answered in the past. It’s just that some of us memory-hole-challenged people have trouble finding it. Might I suggest this: If your work is published here or elsewhere on some web pages, I’m sure you have notes as to what is available where. You could simply answer future questions by saying “The answer can be found ‘HERE’ “, and provide a link to the page.
Now why “expire” your charts next Sunday? Let ‘em stand. It’s a valuable reference for all of us!
Thank you again.
The Hemingway Table
US Financial Markets
Topic du Jour
——————————————————————————–
Gold and Silver Price Manipulation Efforts Failed This Week
By Patrick A. Heller
May 28th, 2010
Again I remind you that the price of gold is actually a report card on the value of the US dollar, and the American government and economy. A rising gold price indicates growing mistrust in the safety and stability of the dollar, falling confidence in the competence of the US government, and heightened fears about the strength of the private financial sector.
Such concerns were certainly not allayed when it was recently widely reported that, for the first time in history, the majority of Americans now depend on payments from government as their “income” rather than obtaining their sustenance from the private sector.
Because of this inverse relationship between the price of gold and public confidence in the value of the dollar, the US government can derive huge benefits if gold’s price is suppressed. Among the benefits are lower interest costs paid on Treasury debt and lower payments on entitlement programs tied to the official inflation rate.
As federal government documents have been declassified and released to the public, it has been confirmed that the US government has intervened to manipulate gold prices starting as early as the end of World War I. In a letter to the Gold Anti-Trust Action Committee, Inc. (GATA) dated September 17, 2009, Federal Reserve Bank governor Kevin M. Warsh confirmed that the Fed has gold swap arrangements in place with other central banks, one of the means by which gold prices can be manipulated.
The tactics used to suppress gold prices have long become so blatant that professionals in the gold commodity trading pits can easily identify the times when prices are being manipulated.
One event where gold prices are regularly suppressed is at the monthly expiration of gold and silver option contracts. There are two different expiration dates each month. Normally, the COMEX options expire on a Tuesday followed the next day by the expiration of Over The Counter (OTC) options contracts. The larger options market is on the COMEX, though there are ten to fifteen banks and brokerages in New York, London, and Zurich that make markets in the OTC contracts.
Up until they expire, call options give the owners the right to demand delivery of the gold or silver at the contract’s strike price. Should the price of gold rise above that level (referred to as being “in the money”), owners of call options can pay the strike price and other expenses and demand delivery of the physical gold from the party who sold them the contracts. Should this occur, that would squeeze gold supplies as the gold inventories on the COMEX are only sufficient to cover a small percentage of outstanding contracts. A supply squeeze likely would have the impact of pushing up prices.
The COMEX options expired this week on Tuesday. As I had predicted last week, the prices of gold and silver were suppressed below the strike prices where there were the largest number of call options—gold at $1,200 and silver at $18.00.
The pattern for the past several months has been for gold and silver prices to be suppressed until after the OTC options expired upon the close of the COMEX the next day. Once the monthly options have expired, the pattern has been for a quick recovery in both gold and silver prices.
That is not what happened this week. The first part of the manipulation to keep gold below $1,200 and silver under $18 through Tuesday’s COMEX close was successful. However, almost as soon as the COMEX closed, gold and silver prices climbed above those levels.
On Wednesday, it looks like the US government, which largely acts through its US and foreign trading partners, was unable to push down gold and silver prices below the critical $1,200 and $18 at the COMEX close! Where this manipulation tactic has worked for many months in a row, this time the surge in demand for physical gold and silver overcame the resistance.
The failure this week of these manipulation efforts is a huge signal that we are closer to the day when the floodgates will give way and we see gold and silver prices surging more quickly and by greater percentages than we have seen in decades. Once again, I recommend that you not wait to protect your assets with some physical gold and silver. Most forms of bullion-priced physical gold and silver are still readily available at attractive premiums. I don’t know how long I will be able to keep saying so.
Patrick A. Heller owns Liberty Coin Service in Lansing, Michigan and writes “Liberty’s Outlook,” a monthly newsletter covering rare coins and precious metals. Past issues can be found online at www.libertycoinservice.com
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