AuthorTopic: Gold & Silver News  (Read 390969 times)

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2475 on: October 11, 2018, 07:45:46 AM »
Just a quick comment.

The cacophony and diatribes against Chairman Powell by President Trump are frightening to me.

They are now being echoed by guru of the Dim, Jim carnival barker Cramer and a host of other assholes on MSM who have no concept of what is going on.

Let me assure my readers that if Chairman Powell resigns from these attacks you will see a rise in the Gold price measured in dollars that will make the eruption of Mt Vesuvius seem like a firecracker going off.

Even the IMF has had to come to his defense via Christine LaGarde who is stating he is not Crazy as President Trump and others are claiming.

Extreme caution is warranted here, as is gold and cash exposure.  Crazy Indeed, real crazy!   :icon_scratch:

GOLD gone wild again as I type, up 27 dollars.         

Offline Eddie

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Re: Gold & Silver News
« Reply #2476 on: October 11, 2018, 08:42:42 AM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.
What makes the desert beautiful is that somewhere it hides a well.

Offline Surly1

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Re: Gold & Silver News
« Reply #2477 on: October 11, 2018, 01:01:14 PM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.

He may be a fool, but thus far, he's shown himself to be made of nothing-sticks-ium. He can claim credit for a market bump, blame Powell, "Dim"-ocrats, or Jimmy Fucking Hoffa for a market drop, and in response regiments of bobble headed MAGAts will nod in assent. Even during the campaign, he failed to win almost any editorial board endorsements, including in his best political strongholds. The media roundly dismissed him, with good reason because  Trump was obviously unfit to be taken seriously.

And then he got an electoral college plurality. Because there were so many of them, and Trump keeps making brand new news almost hourly, solid reporting (like the recent Times story about serial Trump tax fraud) that took weeks or months to compile gets pushed off the headlines. Trumpmay a fool, but he is a creature of TV and media savvy if nothing else.

The case against Trump was made before many times before we voted, and many times over since then. Ultimately, itís up to the electorate to care.

The Rs are now owned by Trump. Any Never Trumpers have fled the field. About 26 per cent of the electorate identifies as Rs, and 86 per cent highly approve of His Orangeness. Plus the apparent R strategy for the midterms is to keep the rage stoked, because rage is always good to get doddering Uncle Crazy to the polls before he strokes out in anger.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline azozeo

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Re: Gold & Silver News
« Reply #2478 on: October 11, 2018, 01:07:39 PM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.

He may be a fool, but thus far, he's shown himself to be made of nothing-sticks-ium. He can claim credit for a market bump, blame Powell, "Dim"-ocrats, or Jimmy Fucking Hoffa for a market drop, and in response regiments of bobble headed MAGAts will nod in assent. Even during the campaign, he failed to win almost any editorial board endorsements, including in his best political strongholds. The media roundly dismissed him, with good reason because  Trump was obviously unfit to be taken seriously.

And then he got an electoral college plurality. Because there were so many of them, and Trump keeps making brand new news almost hourly, solid reporting (like the recent Times story about serial Trump tax fraud) that took weeks or months to compile gets pushed off the headlines. Trumpmay a fool, but he is a creature of TV and media savvy if nothing else.

The case against Trump was made before many times before we voted, and many times over since then. Ultimately, itís up to the electorate to care.

The Rs are now owned by Trump. Any Never Trumpers have fled the field. About 26 per cent of the electorate identifies as Rs, and 86 per cent highly approve of His Orangeness. Plus the apparent R strategy for the midterms is to keep the rage stoked, because rage is always good to get doddering Uncle Crazy to the polls before he strokes out in anger.


In this day & age  :icon_sunny:  Anything can happen ! By November Pence could be large & in charge. All bets are off since Nov. '16....
I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2479 on: October 14, 2018, 11:26:27 AM »
Have the Chinese pegged the gold price?

    Governments and central banks lost interest in the gold price decades ago, but stories about how governments are supposedly controlling the gold price never lose their appeal. One of the latest stories is that since the inclusion of the Yuan in the IMFís SDR (Standard Drawing Rights) basket in October-2016, the Chinese government has pegged the SDR-denominated gold price to 900 +/- a few percent. According to The Macro Touristís 25th July blog post, this story has been told by Jim Rickards. The Macro Tourist suggests a different story*, which involves the Chinese government (or someone else) having pegged the Yuan-denominated gold price. Both stories are based on goldís narrow trading range relative to the currency in question over the past two years.

If we are going to play this game then I can tell an even better story. My story is that the Japanese government took control of the gold market in early-2014 and has since been keeping the Yen-denominated gold price at 137,000 +/- 5%. They lost control in early-2015 and again in early-2018, but in both cases they quickly brought the market back into line.

Hereís the chart that Ďprovesí my version of events:

                                     

The narrow sideways range of the Yen gold price over the past 4.5 years is due to the Yen being the major currency to which gold has been most strongly correlated. Hereís a chart that illustrates the strong positive correlation between Yen/US$ and gold/US$:

                                     

My story about the Japanese government pegging the gold price makes as much sense as the stories about the Chinese government pegging the gold price. That is, my story makes no sense.

It will be possible to find price data to substantiate almost any manipulation story. Also, with sufficient imagination there is no limit to the manipulation stories that can be concocted to explain any price action. For example, you can always look at a period of range-trading in the gold market and conclude that a government (the same organisation that makes a mess of everything else it tries to do) is adeptly managing the price. Alternatively, you can look for a more plausible explanation or perhaps just acknowledge that not all price action has a single, simple explanation.

Like all financial markets the gold market is, of course, manipulated, but even if there were a desire to do so (there isnít) it would not be possible under todayís monetary system for any government to directly control the gold price over a period of years or alter major trends in the gold price.

*In general the Macro Tourist blog provides level-headed commentary on the financial markets and doesnít plunge into the murky world of gold-manipulation story-telling. Even in this case I think the main point of the post is to show that gold is stretched to the downside and may be good for a short-term trade, but some people will take the post as more evidence that the gold market is dominated by nefarious forces.

about:reader?url=https%3A%2F%2Ftsi-blog.com%2F2018%2F07%2Fhave-the-chinese-pegged-the-gold-price%2F   :icon_study: :icon_study:

                   
                                   

Offline Eddie

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Re: Gold & Silver News
« Reply #2480 on: October 14, 2018, 12:29:40 PM »
Have the Chinese pegged the gold price?

    Governments and central banks lost interest in the gold price decades ago, but stories about how governments are supposedly controlling the gold price never lose their appeal. One of the latest stories is that since the inclusion of the Yuan in the IMFís SDR (Standard Drawing Rights) basket in October-2016, the Chinese government has pegged the SDR-denominated gold price to 900 +/- a few percent. According to The Macro Touristís 25th July blog post, this story has been told by Jim Rickards. The Macro Tourist suggests a different story*, which involves the Chinese government (or someone else) having pegged the Yuan-denominated gold price. Both stories are based on goldís narrow trading range relative to the currency in question over the past two years.

If we are going to play this game then I can tell an even better story. My story is that the Japanese government took control of the gold market in early-2014 and has since been keeping the Yen-denominated gold price at 137,000 +/- 5%. They lost control in early-2015 and again in early-2018, but in both cases they quickly brought the market back into line.

Hereís the chart that Ďprovesí my version of events:

                                     

The narrow sideways range of the Yen gold price over the past 4.5 years is due to the Yen being the major currency to which gold has been most strongly correlated. Hereís a chart that illustrates the strong positive correlation between Yen/US$ and gold/US$:

                                     

My story about the Japanese government pegging the gold price makes as much sense as the stories about the Chinese government pegging the gold price. That is, my story makes no sense.

It will be possible to find price data to substantiate almost any manipulation story. Also, with sufficient imagination there is no limit to the manipulation stories that can be concocted to explain any price action. For example, you can always look at a period of range-trading in the gold market and conclude that a government (the same organisation that makes a mess of everything else it tries to do) is adeptly managing the price. Alternatively, you can look for a more plausible explanation or perhaps just acknowledge that not all price action has a single, simple explanation.

Like all financial markets the gold market is, of course, manipulated, but even if there were a desire to do so (there isnít) it would not be possible under todayís monetary system for any government to directly control the gold price over a period of years or alter major trends in the gold price.

*In general the Macro Tourist blog provides level-headed commentary on the financial markets and doesnít plunge into the murky world of gold-manipulation story-telling. Even in this case I think the main point of the post is to show that gold is stretched to the downside and may be good for a short-term trade, but some people will take the post as more evidence that the gold market is dominated by nefarious forces.

about:reader?url=https%3A%2F%2Ftsi-blog.com%2F2018%2F07%2Fhave-the-chinese-pegged-the-gold-price%2F   :icon_study: :icon_study:

                   
                                   

Interesting rebuttal. I think this piece overlooks a lot of the puzzle pieces, which seems to involve the Chinese push to achieve world economic domination and the movement of gold from west to east....and now the very interesting way that blockchain is about to cause a real fundamental change in how money works.

As I posted earlier today, gold looks primed to make a run against the peg, if it's real. We should soon have more evidence.
What makes the desert beautiful is that somewhere it hides a well.

 

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