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Another good video, the bees and butterflies must know how good a thing they are on to in your garden!
I read this article on ZeroHedge this morning (UK) – the cynical side of me says that if even the Rothschilds are now stating the market is at 'unprecedented' levels, whether they are now positioned and about to precipitate a, or 'the', crash.
Lily Tomlin – 'No matter how cynical I get, it is impossible to keep up'.
I really look forward to the weekly news updates, today's being one of your best. I have anger and amazement towards the complete and utter irresponsibility of the central banks and their flip-flopping in order to avoid ANY correction whatsoever.
There WILL be another recession (are we IN a Depression?), the hard data IS bad (witness Friday's figures) and rather than take the fizz out of the markets to give some back up, they continue on their insane pressing on the accelerator even more.
Various people were commenting over the last couple of weeks about why the Fed would QT and raise interest rates into a forthcoming recession. My response has been that the Fed is already behind the curve in raising rates but if it doesn't there will be nothing in reserve (except maybe even more QE and going negative on rates) to prevent an even worse scenario.
Thanks for all the great work you and the team do.
Watching the video, it amused me that, having stated the Fed is LENDING, not SPENDING, for the rest of the video Kohn has to keep correcting himself ‘The Fed’s spending…er, lending…". Hilarious!
Is that an inference or are you taking that as implied from what Peter Schiff says in this interview (as far as he is able to say anything given the behaviour of Mr Leeb)? If the former, I certainly don’t get that impression. What he DOES appear to be saying is that what the Government is doing now, for the problems that are faced now, is wrong and with that I agree.
Lest you think I disagree with you, I don’t. Although I do think (cynic, me) that there can be, and is, politicisation of getting government subsidies (studies on proving – or disproving – global warming?) nonetheless governments DO provide money for research.
Let’s not forget the REAL meaning of the euphemism ‘Quantitative Easing’ – printing dollars as fast as possible (or inputting 0s and 1s as fast as the computers will do so, so that Ben can say with a completely straight face ‘We are NOT printing more dollars’). Is that going to make people spend when they don’t want to? I don’t think so.
Do you mean quiff? Quaff is what I do with ale…
I’ve taken a look at DownLoadHelper following Steve’s post earlier, and it is possible using this and the associated converter applicaton to save in any number of formats (AVI. MPEG, etc).
HOWEVER – Chris, will you be happy if this is done? Are there any copyright considerations? Obviously it’s a way of spreading the word and awareness but I wouldn’t want to do this without your agreement.
I THINK I understand what you’re saying, but can you just confirm, are you saying that you DO think there’s a conspiracy and the physical markets ARE tight,or that you DON’T think there’s a conspiracy and the markets AREN’T tight?
Once again, the market sold off about $10 today just after 2 p.m. London time, just in time for the US opening. Hmmm.
I’ve posted a reply to your other question (Re: Clive Maund: gold is about to pop) – I don’t know whether Chris or any contributors have any other viewpoints, but I think it’s only a matter of time.
I’ve read that the current strength of the dollar could be due to its (still?!) perceived notion of being the World reserve currency and, since every other country appears to be having similar financial problems that there is a flight back to ‘quality’ (hmmm!).
I’ve also read (sorry I don’t have the link, it was a couple of weeks ago) that it could be due to countries having dollar based assets that they need/want to sell, and need the physical dollars in order to do so.
Either way, from the Crash Course, we know that it WILL happen. Inflation and Dollar falling in value as a result of printing too much.
I noticed something odd about the way the page was loading in Firefox a bit earlier but it’s fine now. I’m using both Firefox 3.03 and IE 7.0.
If you’ve read my previous comments, you’ll see that you’re not alone in your feelings about the price of Gold! Some thoughts going through my head (not all agreeing with regard to Gold price);
1) This time of the year, as I understand it, is ‘wedding season’ in India with a concomitant desire for Gold as wedding gifts. One would think this should have a positive impact on the price of Gold although it doesn’t appear to be the case at present.
2) The move downwards in Gold (and Silver) prices are due purely to the recent rally/strength of the dollar. When the dollar goes, and it will, so will Gold and Silver.
3) The move downwards in Gold (and Silver) prices are due to big sellers trying to keep a cap on the price. This would explain the disconnect of the physical/paper prices. If there are any defaults on the paper market, this will drive the prices of Gold and Silver.
3) Gold and Silver really are part of a new paradigm where they are regarded just as any other commodity is. I don’t, ultimately, believe this is so, I think it’s just a matter of time. One can still buy the modern equivalent of a Roman toga, belt and footwear with a ounce of Gold!
4) Do I think Gold will retrace to $600 on the basis of Elliott Wave? As I’ve mentioned before I think this neglects the current fundamental situation. One cannot regard technical and fundamental analysis in isolation, they are both relevant and important acting as tools together. HOWEVER, Jim Rogers was on TV a couple of weeks ago (Bloomberg) and did say that even if Gold fell to $600 he would still be buying.
5) Here’s another thought I’ve had, following Friday’s drop of about $36 in 4 minutes just after 2 p.m. London time (7 a.m.New York). It hasn’t happened every day, but I’ve noticed on several occasions recently that there’s a drop in the Gold price around the same time. The US coming in pushing the price down before the markets open? Other markets lifting their long positions before the market opens?
What would I do if I had the market clout? I’d be waiting, come in big time just before the futures are due for delivery (and, checking on the COMEX site today, their Gold contract requires physical delivery) and then ask for that physical delivery. That would drive the price up a bit! I could be wrong but that would seem to be a way of getting round the anecdotal evidence of a lack of physical supply (well, at the ounce/coin level anyway).