That’s Right; We Ain’t Buyin’ Nuttin’
I know it’s hard, but imagine this for a moment;
is totally out of money! They got about € 1.98 in the bank [if it’s still open]. I mean, who could have seen this coming? Greece
Tomorrow sees a Greek bond auction, and if this somehow gets undersubscribed and they can’t raise the necessary scratch to pay the bills, I’m sure all the public sector
union thugs employees not getting paid, the 40 year old philosophy students not getting their University tuition, and the pensioners who see their monthly checks slashed, won’t be a problem. Peace and love in Syntagma Square.
So, the only thing left to do in
Not to be outdone, that stellar Wall Street firm Morgan Stanley is telling
muppets clients today that gold is still a buy and that the future looks bright for the “barbarous relic”. Seems their prop desk has more proprietary selling to do.
We’re due here, in just about everything financial and especially gold, for a smart 2 or 3 day rally that takes prices back up some. Whenever it finally does happen, look for the rally to start sometime after the
Crimex Comex closes for the day. After all, the dealers and Central Planners have to shove the rock back up the hill, in the least volatile time of the trading day, to get everybody else to buy it in “prime time”. Rinse and repeat.
Meanwhile, at JPM …….
Somebody had to fall on the”It’s-my-fault-the-firm-lost-2-large-on-the-trade” sword; making a paltry $15 million per year I’m thinkin’ soup kitchen isn’t in her future. Perhaps there is a good job in Chalky Soetero’s administration somewhere; Treasury Department would be appropriate.
Have a good day everyone.