Gold Daily and Silver Weekly Charts - Coiling Like a Snake - Whip It Good

When a problem comes along

You must whip it

When something's goin' wrong

You must whip it

Devo - Whip It

The metals continue coiling as gold is held around the 1200 level and silver between 16 and 17.

The 'delivery action' is in silver this month, and the relative scarcity of deliverable warehouse metal at this price is in gold.

I wonder how long the Fed and their cronies can hold the metals down, while they desperately whip the flagging economy into recovery.

 

The urban cowboys are the Wall St Bankers, and the red hatted weirdos are the Fed.

 

Whip it good.

Have a pleasant evening.

 

 

 

 

 

 

SP 500 and NDX Futures Daily Charts - 99 Luftballons

Another intraday 'stick save' for the ever levitating US equity markets.

And the hits just keep on coming. Until they don't.

Have a pleasant evening.

 

 

 

Gold Daily and Silver Weekly Charts - Deliverable Gold in the Comex Falls To Record Low

This is an inactive month for gold on the Comex, and the delivery reports, such as deliveries are at The Bucket Shop which is merely an exchange of claim checks, reflect this.

So I was a little surprised to see that in the latest warehouses report the 'registered' or deliverable gold, at these price levels, has fallen to record low levels of 372,235 ounces, or about 11.6 tonnes.

To put that into a more global perspective, the Shanghai exchange alone is actually physically delivering, or withdrawing in excess of 30 tonnes per week.

This is not so much an issue now since this is an 'inactive month' at The Bucket Shop, meaning that the exchange of claim checks takes a back seat to the purer exercise of wagering to an internal set of rules, scheming and bluffing amongst the big swinging dicks of Manhattan, in the manner Liar's Poker, and the long tradition of scheissers and assorted flim-flam men.

 

Can you not see this in our culture?  We admire and hold up the most skillful liars as role models.  See how he can deftly answer any question in whichever way he wills,  without batting an eye or touching a fact?   What a great leader for our time.

 

But as our self-absorbed nincompoops in business and government so often forget, the rest of the world is active, and very open for business.   And they are not necessarily signing on to the one world government of the multinational corporations just yet.

 

To be clear, I am not saying that the Comex is on the verge of default, or anything as dramatic as that, although there are plenty who will make that claim, and on just about every occasion on which they have a podium to be heard.

 

Rather, I am making the point that our models of price discovery and capital allocation are broken, and badly, in quite a few markets beyond the precious metals.   It is like we are running our economy on demo mode, some video game in which wiseguys play to cheat the unsuspecting and the productive. 

 

And this is having and will continue to have increasingly disruptive consequences in the real domestic and the world economy.  And at some point the world may say 'enough.'  And then change may come.

 

Have a pleasant evening.

 

 

 

SP 500 and NDX Futures Daily Charts - United States of Amnesia

“We are the United States of Amnesia, we learn nothing because we remember nothing.”

Gore Vidal

Stocks backed off their exuberant rally high from last Friday after that 'goldilocks' job number.

The 'global bond rout' has investors nervous, and well they might be. 

We are led by narcissists and sociopaths, in a most unwholesome partnership between the public and private sector. 

 

And the most feral, counterproductive response of self-proclaimed 'reformers' is to eliminate government, to nullify it, so that in their very deluded and romantic imaginations the monied interests can refrain from acting as lawbreakers, since at their core these most selfish and cunning of predators and sociopaths are really yearning to be, think, and act like angels.

 

And what will we do, having deregulated our markets, freed them from restraint, and eliminated the laws so that none may be lawbreakers.  What will we do when the very heart of darkness has a freer reign to blow the winds of plunder and power over the lands, with nothing to provide us a foothold or an anchor, the laws which are the pillars of justice having been all overturned? 

Have a pleasant evening.