Keep Your Daughter Away From The Metals Dealer
“We’re off to see the Wizard, the wonderful Wizard of Oz, because because because because [pause and take a deeeeeep breath] for all the wonderful things he does, la la de de la la ……”
The only thing that would make today perfect poetic justice would be if George Orwell wrote “The Wizard of Oz”. While most people think the movie was just a kiddy flick starring Judy Garland, actually it was meant to be a scathing indictment of The Fed, FDR, and the confiscation of gold by Big Brother in the 1930”s. [Go ahead, think about that for a minute.]
So today, while Europe’s elites rejoice because they are spinning a successful Spanish 10 year note auction, the European bond market has ripped the curtain off its hinges and told Europe what they really think.
Not to be outdone and wanting very much to be a part of the action, the Central Bank Gold Cartel [with the altruistic help of the front-running JPM prop desk to be sure] were out in force early today selling the gold market down into the low 1630”s. When they backed off, all it took was 55 minutes for the real market to send gold prices $17 higher into a new high.
While I have a certain amount of “Schadenfruede” in seeing them get their butts handed to them, the thing to remember is that they don’t care about profits and/or losses. They aren’t traders, they are manipulators. If they can get you to lose money, or stop you out of a position, they win.
But that doesn’t mean they go away; it’s too late for that and they have gone “all in”. If you buy the upside breakouts, they are going to win.
When you pull the curtain back and see where market reality is, you can take advantage of their arrogance, their methods, and ultimately their sheer stupidity of the history of gold.
Meanwhile, in Socialist Amerika…….
Patronizing The Kool-Aid Drinkers
In the last 48 hours Chalky’s minions have made much ado about Mitt Romney’s dog Seamus, who he allowed to ride on the top of the family car in a kennel cage. Chalky’s operatives have been trying [unsuccessfully] to paint Mitt as a dog abuser.
But finding out that Chalky actually ate dog as a kid by his own admission has kind of turned things around.
In the spirit of “fairness”, I present the following:
Please Just Pet Me
Have a good day everyone.