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Its ALL about $Yen Gary, it has been since Nov 2012, massive capital will flow into the US equity markets sending the US$ much higher as $Yen gets devalued to 120….Euro heading to 120 then par as Europe’s debt issues implode…..again sending big capital into US equities…..gold sub $1000 on the back of last nights BOJ announcement is a Slam Dunk!!
I tend to think it’s about all CB’s printing. All stock markets will go up until they can’t anymore. Then all that inflation will start to flow into the commodity markets.
JJ, root-cause-wise, I think Gary’s got this correct.
News over here in Japan is reporting that the BOJ (Bank of Japan – a CB) is printing money to buy assets, in order to raise inflation to 2%. And as a result, the Japan stock market rose, and the Yen fell (relative to the $USD).
So CB money printing is the root cause. The prime mover.
To think there will be a generation of investors growing up believing this is the norm. Your postings and this market have taught me a few things….
1. Fundamentals mean nothing.
2. Charts means everything (they don’t lie)
3. Everything else is noise!
Simon, that’s true at every moment, delta t. But, me thinks that in the Gold market, that there will come a time when the short selling of paper gold will suddenly stop working, and the chart price of gold will suddenly be set by the physical gold price. Meaning, when this happens, at some delta t day/time, maybe gold’s price on the charts will jump $100 or $200 or $500 in an instant, and as we scramble to try to buy physical gold, there won’t be any to buy. It’s my biggest worry.
It appears that the Fed does get audited quite often.
If that was the case then why would Ron Paul sponsor a bill to audit the Fed, and why would the Fed try to prevent the bill?
From what I understand HR 1207, Ron Paul’s bill to audit the Federal Reserve, is a reformed audit of the Fed.
Quotes from the following link:
“The bill would order the Government Accountability Office, which is Congress’s chief investigative arm, to review the Fed’s decision-making — particularly on monetary policy
“The previous chairman of the Federal Reserve, Ben Bernanke, had opposed an audit, saying it could lead to politicians second-guessing the secretive board’s decisions. ”
So I think the Fed does get audited just not completely the way Ron Paul believes.
Gary, I’m not up on US news much, but I do recall Ron Paul asking for Fort Knox to be audited – to see if our 8000 tons or whatever of gold is all there – is that what you mean, or ?
I used to want to audit the fed. Back when I was foolishly shorting this beast (thanks for nuthin’ SOH) and when I was foolishly trying to catch the falling PM knife (not mad at you here, Gary… my choices my responsibility, but we did get the hell burned out of us for a while there). But now that I have started thinking right and just bought a metric ton of broad market calls at every cycle low, I’m all for a Fed that is free from interfence. Let them keep this up as long as they can. I’m loving it. Once you free your mind to trust the Fed, trading is as easy as counting days, waiting for a swing, clicking the buy button, and heading out for a beer. It won’t last forever, but there will be plenty of time to audit the Fed after the chickens come home to roost and the nation is in ruins. Until then, leave them free to make money for us, and get in line at the trough. That’s my advice to ‘ya.
Gary–do you think there’s still a chance we see a rally in gold soon?
Jane, I suggest you pop over to the kereport.com website and listen to Gary’s candid views on the state of things. In the past few days has strongly stated that he thinks a rally is coming soon. But you need to listen to when and for how long.
Looking at the NYMO Oscillator we are very stretched to the upside,yes they will try to push this up some more before the elections, but as we saw there are very many nervous sellers hovering over the sell switch right now, one day of bad news and things could get ugly. Just an observation I have made in the past when Precious metals get hammered, it normally precedes a pull back in the general equity market.
The NYNO isn’t a short term timing tool. It’s a market breadth indicator. When it moves up this powerfully at the beginning of an intermediate cycle it is an indication of a very strong intermediate cycle getting underway.
Gary I appreciate all of your time and effort in your technical analysis and have always marveled at your timing models and your expertise in the respective fields.