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    Dollar & Payrolls Bounce, Awash in Lies & Misinformation

    Weekly Market Update 6 August 2021
    by davefairtex

    Sunday, August 8, 2021, 4:52 PM

Market Commentary

The buck erased most of last week’s losses [+0.66%], with the bulk of the gains coming on Friday, following a surprisingly strong Nonfarm Payrolls report [headline +943k +0.65%]. Might this be due to some of the Red states deciding to cease paying people to remain unemployed? The rise in payrolls doesn’t look all that spectacular given the pandemic-sized plunge – but the move in the markets definitely happened at the time the payrolls number was released. Friday was the big day, and Payrolls was the driver.

Wolf has a thorough breakdown of the whole employment puzzle here: it’s complicated.  Read his full take here.

By contrast, Autos & Light Truck sales did poorly this month [headline -4.33% -638k]. This is the second month in a row of poor auto sales. Whatever consumers are buying, it isn’t autos. Auto sales have retreated substantially from their post-pandemic highs.

Friday’s payrolls report (which hit at 08:30 Eastern) triggered the strong rally in the buck [+0.59%], as well as an even stronger plunge in gold [-2.36%], silver [-3.33%], the miners [-2.17%], platinum [-2.51%], and copper [-0.23%]. Lumber was the only holdout [+5.81%]. Much of the “inflation” play seemed to reverse – just about all of the buck’s decline from last week has been erased – and in just one day, too. Buck is back in a mild uptrend.

As you can see in the charts, both gold and silver remain in downtrends, and those downtrends have accelerated – although my code thinks gold’s weekly candle print looks surprisingly bullish. I’m not so sure. It probably depends on where the buck goes next. Gold below the 50 and 200 MA lines doesn’t look great. We could see a drop down to the previous low at 1700.

Crude also plunged this week [-7.81%], but the move wasn’t associated with payrolls; most of the damage happened on Monday & Wednesday. Crude is in a downtrend right now, ending the week well below the 50 MA.

Something I’ve been keeping an eye on is US crude production. So far, we have not seen a collapse. Either EIA is lying to us or – things aren’t as bad as we feared. Production appears to be inching slowly higher.

Alongside gold, the 10-year dropped [+8.8 BP to 1.30%], as did the 30-year [+9 BP to 1.95%] on Friday also. When viewed alongside the dollar rally, this was an odd move; normally when money moves into the buck, at least some of it ends up in the bond markets. This time, money fled bonds, so it looks like money is flowing into “cash.” Remember DGS10 (interest rates) rising = bond prices falling.

My read: the market seems worried about higher interest rates (that’s what falling long bonds mean) – at the same time the metals are selling off. This adds up to: the market is projecting a Fed rate increase in the near future.

Equities continued moving higher [SPX +0.95%]. Looking at the sector map – it was a mixed bag, but overall it leaned bullish. The banksters seem particularly happy about what’s going on right now, but so do the interest-rate sensitive sectors. Real stuff did poorly. Banksters net interest margins move higher if the Fed raises rates, so that lines up with my “Fed rate raise coming soon” thesis. I’m still puzzled why utilities and REITs did so well. Maybe that’s just payrolls? I’m less sure about that.

News Items That Caught My Eye This Week

Pfizer and Moderna Will Raise the Price of Their Vaccines After Adaptation to New Variants

Source

Well you knew this was going to happen. In the New Normal, obsolescence is built-in to our “modern” vaccines. Forget lifetime protection from polio from a single shot – that’s the Old Normal. In The New Normal, vaccinated protection lasts for about six months. And the next shot will be even more expensive! How long will it last? Who knows!

“It’s good to be da king!”


Two senior Biden officials familiar with the matter said the administration is still trying to balance messaging in a way that underscores the severity of the Delta variant while simultaneously reiterating that vaccinated individuals are overwhelmingly not at risk.

Source

Tough messaging job for this team. MASKS! LOCKDOWNS! But if you take the shot, you’re fine. DELTA!! N95 MASKS!! HOSPITAL OVERFLOWS! The shot works perfectly. VARIANTS!! BOOSTERS! The shot is awesome. But don’t wait – get the new shot! Its even more awesome! Save grandma! Whoops. I mean, save yourself! Science!!


Assembly Speaker Says Governor Can No Longer Remain in Office

Biden calls on Cuomo to resign in the wake of A.G. report.

Source

A bit of a black eye for the Cuomo-sexuals and the “believe all women” group. Right now the NY Assembly is slow-walking the impeachment. Apparently it will take a month. Or two. Of course if Cuomo were Bad, and Orange, they’d do it in a weekend. Maybe they’re all hoping that something more dramatic is queued up that will drive this story off the headlines and it will all blow over?


New York City to Require Proof of Vaccination for Indoor Dining and Gyms

Source

Of course you know about NYC’s vaccine mandates, which I call Jim Crow 2.0. We know this isn’t about “public health” because prior infection doesn’t get you squat, even though its vastly more protective of both yourself, and others, than the failing vaccines.


F.D.A. Aims to Give Final Approval to Pfizer Vaccine by Early Next Month

Source

The failing vaccine will be approved in early September by the captured regulators, even though there was no visible mortality benefit in the trial. (MASKS!! DELTA!! HOSPITALS OVERFLOWING!!) The shot is so perfect – the virus so dangerous – it must be mandated! Always at war with Eastasia. Or was that Oceania? Science again!!


Fourth police officer dies by suicide after Capitol riot, family confirms

Source

This struck me as odd. So I ran the numbers, framed as a “retrospective analysis.” Capitol Police (CP) group: n=1,879. Total US law enforcement (TLE) group: n=697,195. TLE group suicides in 2020: 173 (annual rate=0.024%). CP suicides since 1/6/2021 (7 months): 4 (annual rate=0.212% x 12/7 = 0.363%). 0.363 / 0.024 = 15. There was a factor of 15 “suicide risk reduction” observed by NOT being a member of the CP group in the 7 months following Insurrection Day. The observed protective effect increases to a factor of 19 if you add in the CP officer who died from “natural causes” the day after the Insurrection.

Two thoughts:

  1. If “3 times is enemy action”, what’s 4 times? And 5 times?
  2. “Jeffrey Epstein Didn’t Kill Himself”

Obama reportedly scales back 60th birthday party due to Delta surge

Source

Oligarchy: It’s good to be da king! Oh wait. That’s still a year away. My bad.

Plebes: DELTA! HOSPITALS OVERFLOWING! N95s! VAX MANDATES!


 

British holidaymakers are likely to need to prove they are fully jabbed “for evermore”,
the Transport Secretary has said. “So I mean I think double vaccination, full vaccination, is going to be a feature for evermore and most countries, probably all countries will require full vaccination for you to enter.”

Source

The guy’s name is Grant Shapps. Transport Secretary Grant Shapps. Clearly this is an Oligarchy aspirational goal – for a failing vaccine that neither protects Grandma, nor (at this point) you.

So Grant. Mister Transport Secretary. Have you heard about natural immunity?


Apple Will Scan U.S. iPhones For Images Of Child Sexual Abuse

Source

AAPL will now automatically examine all the pictures on your phone. “For the children!” Implementation: a list of picture checksums – a “dirty pictures” summary list – AAPL’s new code will search your phone for images, compare their checksums against the “dirty pictures list”, and then report any pictures found to “the authorities.” It is a fantastically useful bit of new infrastructure if you – say – wanted to extend your axis of control to a large new group of individuals (h/t ao).

Scenario: hackers at your favorite three-letter-agency (or – using Israeli Company software) breaks into the target’s phone, uploads a whole collection of “dirty” pictures on the list to the target phone, then AAPL automatically reports in the next day! “For the Children!” Another ally of the Bad Orange Man – or maybe Bernie – or maybe just an irritating “Insurrectionist/Anti-vaxxer”, or a dissident, or an Environmentalist – if they don’t agree to work for Oligarchy on the sly, gets whisked off to prison. “We’re shocked, simply shocked to find out that <whomever> likes kiddie porn!” Rinse, repeat.

Where can I get me one of those new phones? Or maybe just an update for my own phone? I mean, if its to protect the children, I’m all for it.


“Every gram of extra greenhouse gas in the atmosphere will increase to the probability of an AMOC collapse in the future, so emitting as little as possible, both on individual but of course also on collective and international level, is the key.”

Source

From the same group that has been telling us: “No Treatments For You”, the answer to literally every problem is: Humans Must Not Use Fossil Fuels (*)

(*) Special exemption granted to Oligarchy flying private. Commercial is just so tedious! Plus, did you hear that Obama is throwing a birthday party! Everyone’s gonna be there!


Here are the 17 Republican senators who voted to advance the $1 trillion “infrastructure” bill:

  • Roy Blunt of Missouri
  • Richard Burr of North Carolina
  • Shelley Moore Capito of West Virginia
  • Bill Cassidy of Louisiana
  • Susan Collins of Maine
  • Kevin Cramer of North Dakota
  • Mike Crapo of Idaho
  • Lindsey Graham of South Carolina
  • Chuck Grassley of Iowa
  • John Hoeven of North Dakota
  • Mitch McConnell of Kentucky
  • Lisa Murkowski of Alaska
  • Rob Portman of Ohio
  • Jim Risch of Idaho
  • Mitt Romney of Utah
  • Thom Tillis of North Carolina
  • Todd Young of Indiana

Source

My sense: this bill is part of a larger plan to sneak federalized voting rules changes, supreme court packing, and amnesty for ten million illegal aliens, as well as an additional 3 trillion (T) in spending through the Senate using a legislative trick. The above senators who are supporting step 1 of this two-step trick are most likely captured by the Oligarchy in some way, shape, or form. They are going along with this scam because it provides them plausible deniability. Just a guess.

Hagerty Delivers Floor Remarks on Senate Infrastructure Bill

Source


Vax approval coming in early September. Once FDA approves the shot, Fauci is saying that mandates are going to be everywhere, for everything – even though you taking the shot doesn’t protect Grandma, and it doesn’t even convey any mortality benefit for you. But Fauci did leave us with this gem:

“This is a dystopian world we’re living in,” he said. The public is awash in lies and misinformation about COVID-19 and the vaccines, “they are being misled.”

Source

Indeed they are.

Transcript

 

 

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16 Comments

  • Sun, Aug 08, 2021 - 6:59pm

    #1
    Carl

    Carl

    Status: Member

    Joined: Jul 17 2008

    Posts: 56

    5

    Autos & Light Truck Sales

    A friend related that he stopped by the dealer to order the new truck (GMC) that he had been considering for some time. The dealer told him that GM was running at least 8 months behind on deliveries. Further, the dealer would not even take his order. Told him to check back in a month.

    The downturn in auto and truck sales may be related much more to supply chain issues than to consumer demand.

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  • Mon, Aug 09, 2021 - 1:57pm

    #2
    MGRS

    MGRS

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    Joined: Feb 28 2013

    Posts: 185

    5

    Four times is...

    Two thoughts:

      1. If “3 times is enemy action”, what’s 4 times? And 5 times?
    • “Jeffrey Epstein Didn’t Kill Himself”
    • I saw a funny Zerohedge comment that answered this as:
    • Four times is a Clinton.

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  • Mon, Aug 09, 2021 - 2:38pm

    #3
    VTGothic

    VTGothic

    Status: Gold Member

    Joined: Jan 05 2020

    Posts: 730

    11

    Rand Paul: "Not this time."

    Sen. Rand Paul is very publicly encouraging Americans to say "no more" to Covid lockdowns, masking, and vax nazism. He speaks my mind; I'm very clear.
    https://twitter.com/RandPaul/status/1424399282447298563

     

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  • Mon, Aug 09, 2021 - 3:21pm

    #4
    VTGothic

    VTGothic

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    Joined: Jan 05 2020

    Posts: 730

    6

    Bitcoin's Role in delaying the infrastructure bill's vote

    From Politico's recap:

    [The crypto] industry was able to direct thousands of crypto enthusiasts on social media to join the battle by providing a real-time play-by-play of Senate negotiations. Jack Dorsey, the top executive of financial payments company Square, called on his 5.6 million Twitter followers to fight bill language that he called “unworkable.” Even Kiss bassist Gene Simmons was involved, announcing in a tweet that he supported an amendment to protect the industry.

    “This has definitely been a wake-up call to crypto,” said Kristin Smith, executive director of the Blockchain Association, an industry lobbying group. “But on the flip side, I think Washington is starting to see that crypto is more of a force than anybody ever anticipated.”

     [T]he groups’ efforts were boosted by powerful financial technology firms. Among them were Square, which disclosed spending $440,000 on lobbying in the second quarter of this year, and the massive crypto exchange Coinbase, which in April was the first major trading platform to go public and reported spending $80,000 on outside lobbyists in the second quarter. Coinbase earlier this year hired former Goldman Sachs co-head of government affairs Faryar Shirzad to be its chief policy officer. Shirzad also served on the White House National Security Council.

    Influential investors joined the fight as well, including Andreessen Horowitz’s Marc Andreessen, Ben Horowitz, Katie Haun and Chris Dixon, who operate a $2.2 billion crypto venture fund.

    Crypto advocates also had allies among digital rights and privacy groups, including the Electronic Frontier Foundation.

    Together, the coalition found sympathetic ears on both sides of the aisle, causing headaches for the White House and the bipartisan group of senators who drafted the infrastructure bill. The legislation’s authors found themselves unexpectedly having to defend what was a minor element of the $550 billion infrastructure plan.

    The impasse over the competing cryptocurrency amendments helped drag the infrastructure vote into the weekend.

    Clearly, crypto's near-instantaneous and massive response to the last-minute regulatory language slipped in by Sen. Portman at the request of Janet Yellen took the DC establishment by surprise and revealed that it is now a force to be reckoned with.

    That's something that has been clear to me for months, and that I've commented on before. The "bitcoin twitter" world is militant. They are not campaigning to make money; primarily they are advocating for a world in which the 0.01% don't get to impoverish the global  population for their personal benefit. They are militantly anti-financialization - anchored in the Austrian School of economics, while the entire globe runs on Keynesianism. They are true revolutionaries who propose to take the base layer of money out of the hands of any national government or international body and, as they put it, "we write code."

    Microstrategy CEO Michael Saylor dubbed them "cyberhornets," and this weekend the U.S. Senate saw them swarm and felt their sting. It's a battle just begun, but crypto - in particular Bitcoin (the only digital currency that is not centralized, and therefore exists outside the control of regulators) - is now in the "then they fight us" stage. Here's an example of the passionate extremism these people constantly exhibit. (This is no exception, these guys are the rule in the bitcoin maximalist crowd.)

    Notice the comment at this mark: "We can hold out much longer than they can print money... And if worst comes to worst, we'll have a bitcoin circular economy."

    I think it's a shame that so many PPers don't understand what's really going on in the Bitcoin community. We are natural allies with them, but too often we're showing our age, to our discredit. We're stuck in a past construct, even we PPers, who are in so many ways more aware than our peers.

    These young, passionate, intelligent, deeply dedicated, well-educated, and often finance field-experienced men and women are the founding generation of a better First Turning world. We ought to have their backs if we want a world for our grandchildren that is centered on individual freedom, financial autonomy, and a level economic playing field.

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  • Mon, Aug 09, 2021 - 3:22pm

    VTGothic

    VTGothic

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    2

    Oops: the main link

    Oops: the politico article's link (I'm afraid to edit, the system almost didn't let me post  because of how long I took composing).

     

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  • Mon, Aug 09, 2021 - 3:59pm

    #6

    Tycer

    Status: Gold Member

    Joined: Apr 26 2009

    Posts: 381

    2

    Super post VT

    🎉

    Well said. I agree completely.
    Kind regards,
    Tycer

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  • Mon, Aug 09, 2021 - 4:13pm

    Inquiz

    Inquiz

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    3

    VT Gothic #4

    I agree, PPers and Bitcoiners would seem cut from the same cloth.

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  • Mon, Aug 09, 2021 - 10:09pm

    Snowball Financial

    Snowball Financial

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    Posts: 18

    3

    Snowball Financial said:

    "Give me liberty AND give me death."

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  • Tue, Aug 10, 2021 - 4:20am

    David Henry

    David Henry

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    Joined: Sep 20 2019

    Posts: 118

    1

    Crypto for autonomy and resilience

    Great post VT Gothic and thought provoking as always, you give us a lot to think about. The FED seems to have totally tamed silver and gold as a threat to top down control, but crypto *may* pose a challenge. Or why else would Janet Yellen tap a Republican Senator to try to sneak in onerous and invasive reporting requirements? Glad this attempt to hobble sound money was at least partially rebuffed.

    I'm guessing (don't know exact figures) that the total crypto currency market cap has passed that of silver or will soon, yes? Wonder how long until it passes gold? Five years? More? Less? Again, I don't know but it seems very clearly headed that way.

    I love how these cyber hornets (great term!) are demonstrating how we can forward the values of sound money, human autonomy and resilience in a digital age. They would indeed seem to be kindred spirits to the PP community.

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  • Tue, Aug 10, 2021 - 7:19am

    VTGothic

    VTGothic

    Status: Gold Member

    Joined: Jan 05 2020

    Posts: 730

    5

    VTGothic said:

    Thanks, @David_Henry.

    A couple data points: BTC's market cap is around $865 billion today. Silver is around $1.5 trillion. Gold is $11 trillion. To catch silver, bitcoin would need a per coin price around $80,000, double its current.

    I think BTC will eclipse silver at least briefly this cycle because I think $85,000 is at the low end of what it will do by year-end (or perhaps into Q1).

    I do think the Fed has control of gold and silver. I don't think they are the inflation hedge they once were. This helps explain why gold is bleeding value into crypto generally and bitcoin predominantly. I'm not convinced any longer that physical gold and silver is the hedge it was when I got mine; I keep some, but it is no longer more than 5% of my net investments.

    Some other thoughts now stimulated:

    For gold and silver to be stores of value they have to be valued as such, and the younger generations don't appear to value them. Look below age 40 and the trend is into digital stores. One of the most visible demonstrations of that is Spencer Schiff's public break with his father, Peter, over the relative merits of gold and bitcoin. The younger has zero interest in precious metals.

    Yesterday I listened to 3 investment-oriented brothers aged between 33 and 25 talk about knowing no one in their peer groups who hold gold or silver. They said that if they inherited precious metal they would immediately sell it to fund more btc, real estate, or investment in young companies. (All three invest in tech start-ups.)

    It appears even India's young are switching to digital stores of value and gifts. To me that's the coal mine canary; if that trend continues another decade (as I believe it will) it's game over for precious metals, over the longer term.

    We boomers tend to think they're crazy, in part because we see the potential collapse of electricity. But just last week I talked with a career Army Engineer officer who told me that the military's not deeply concerned because EMPs are not really a thing (very localized effect, require certain conditions to work, the grid is already basically immune to the movie version).

    It's all anecdotal, but the data points keep adding up. Case, case seems to be moving into cluster, cluster. A trend is forming and precious metals are losing their store-of-value luster.

    The other thing we boomers are missing is that the younger generations are not focused on socio-cultural collapse the way we are. They certainly see hard times coming - for which they blame us - but they basically believe the world is going to recover from it and be a better place...once we're all dead and out of the way. In other words, they are optimistic, not pessimistic. Their exploration and adoption of digital money is not to protect against collapse, but to embrace the emergent future.

    Chris and I had a discussion about what Tomorrow might look like; what the dawning of the First Turning could reveal, and how we might help the new dawn break a few minutes early. I've reflected on that a lot since, and in the end I think it is already emerging. It's just emerging in ways that we - whose eyes are getting dim with age and who are preoccupied with peering into the gathering gloom of our world ending - have trouble seeing.

    But the kids see it. They're already living into it. They are increasingly inhabiting a world that is taking form parallel to our physical world. It interpenetrates ours but it is all but invisible to us. It's wrapped up with the digital as the real (which for us it will never be). They embrace digital money and stores of value because that's what Tomorrow uses; it's degrees better than analog currency and base metals. It breaks down power concentrations, it anticipates the end of kingdoms and states, the destruction of borders, the liberation of education and knowledge from institutions and silos, the democratizing of the (digital) economy. It sees the opportunity for a true renaissance in which everyone in the world benefits from the power of technology to trend costs toward zero, manifesting abundance, and forces (as I hear them say to one another) governments to compete with each other for residents on the basis of what services and benefits they offer at what price.

    That's the reset they see. When the young guy in the video I linked in comment 4 says "We can hold out much longer than they can print money... And if worst comes to worst, we'll have a bitcoin circular economy," and also, "They don't get to win this war," he's talking as a prophet, as someone who sees that our world is already dead. It isn't a part of tomorrow, and he can outwait me. I will die before he will surrender bitcoin or Tomorrow.

    I'm extremely bullish about the future. That's why I'm bullish about bitcoin. The youngsters also say that being long on bitcoin is to be long on the future; to be short bitcoin or long gold is to bet against tomorrow. The one is optimistic, the other pessimistic. The one is future, hope, and life oriented, the other is past, fear, and death oriented.

    Dang. I think they've nailed that exactly. The difference is the cause of the ideological divide between Peter and Spencer Schiff.

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  • Tue, Aug 10, 2021 - 7:34am

    Tycer

    Status: Gold Member

    Joined: Apr 26 2009

    Posts: 381

    3

    Mostly agree VT

    Silver is a necessary metal for the Tomorrow they envision. It is in short supply for that Tomorrow.

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  • Tue, Aug 10, 2021 - 9:06am

    DaveDD

    DaveDD

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    Joined: Sep 08 2019

    Posts: 402

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    DaveDD said:

    Great post, and I totally agree.

    Bitcoin and many altcoins are soundly anti-authoritarian, democratic, and freedom-minded. I can transfer crypto to anyone with an crypto address, all over the world. No boundaries, no obstacles, no greedy sticky fingers in between, hardly any waiting times, for a fraction of the normal costs.

    As with "anti-vaxxers", or even better, "poke-doubters", the establishment will do it's utmost best to convince the general populace that crypto holders/investors are an egoistic bunch of criminals going to destroy the world by playing a piramid-scheme, because everyone knows that fiat money, and soon to come central banks digital currencies, CBDCs (link), are more trustworthy because these centralized digital currencies can be fully controlled by our benevolent rulers who will never ever block digital payments because you bought a book they didn't like, or put an expiration date on the CBDC deposited in our accounts to make sure you spend all of it; just trust them on their beautiful honest eyes and their track record. Like "Science", "Pharma", "Bombmakers", "Food Insdustry", Central Banks and banks are trustworthy and they only exist to serve us by making our lives better,

    yeah, right...

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  • Tue, Aug 10, 2021 - 1:29pm

    #13
    davefairtex

    davefairtex

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    6

    CBDC's

    It will be interesting to see what happens when the central bank digital currencies come online.  The banksters won't be happy - but do normal people really understand what happens when they're carrying around digital wallets on their phones?  The bitcoin whales understand.

    There's a reason banks came into existence.  Most people can't protect their gold bars very well.  That's the bank's real job.  Otherwise your life's savings vanish during a robbery.

    The Oligarchy vs bitcoiners will be an interesting struggle to watch.  Since Oligarchy owns the Internet, the three-letter-agencies, the tech companies, and the banks, I'm not yet ready to say the bitcoiners will have things their way.  They are up against a force that's been in place for 400 years.  And they don't play fair, either.

    But I'm happy to have more people fighting the Oligarchy.

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  • Tue, Aug 10, 2021 - 1:55pm

    #14

    Montana Native

    Status: Bronze Member

    Joined: Mar 17 2009

    Posts: 184

    4

    On Crypto and Precious Metals

    The schisms between the PM believers and the Crypto believers is a fun one to watch. I actually lean towards Peter Schiff's believe that we are living in fantasy land. The current system seems unsustainable as it looks like it's damn near impossible for interest rates to rise without all kinds of debt blowing up....just look at Zombie corporations and the something like 10% of the US budget that pays interest while rates are bottom of the barrel.

    I sold half of the crypto I bought in 2020 within 15% of Bitcoin's last top. I can never lose money on crypto unless I buy again.....I profited already. Pigs get fed, hogs get slaughtered. If it makes a 10x or 20x move from here it will change my life in a meaningful way. With physical gold and silver, it's nothing I would ever sell unless prices did what crypto did or I felt like there was better opportunity. Silver is less than half of what it traded for in 1980 and is the most conductive and reflective metal on the planet. Gold is money and that's why central banks are still buying. They are buying it for a reason no doubt and I doubt this time is different. As a Get X'r I don't think I'm pessimistic to question the future.....the crash course lays the foundation for an unsustainable system. I think a lot of younger kids are wearing the Rose Colored glasses. Techno narcissism is a thing and to think technology can weave through some very disturbing math concerning perpetual growth on a finite planet might be getting a little too big for our britches.

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  • Wed, Aug 11, 2021 - 4:35pm

    CrLaan

    CrLaan

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    CrLaan said:

    Autos & Light Truck Sales

    what about the parts to keep the old one on the road?

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  • Fri, Aug 13, 2021 - 9:28am

    #16
    davefairtex

    davefairtex

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    Joined: Sep 03 2008

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    silver

    Bad candle for silver, but forecaster is suggesting a reversal.  (I'm long).

    Very odd increase in OI at the lows.  It suggests the banksters had to really lean on the market to push price lower.  Normally you'd see a cash-register-ringing event after a big spike down (which would make the OI drop).  Not this time - which strongly suggests the banksters are adding to their shorts on the drop.  I.e. "this was not a natural event."  Maybe they're buying mining shares.  Or something.  Did I mention I was long?

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