Absolutely Clueless
If there was any doubt before, it’s now official; Amerika is
the butt of all jokes thanks to the “Hopey Changey” BS of one Chalky O-Bomb-A
Soetero. The Syrians and Russians are playing him like a violin.
Seriously, between the present-day choom gang of Hillary,
Kerry [IWIV], Biden, Reid, Pelosi, Rice, Power et al the chance of a serious
thought solving any problem is lower than zero. All calculations are political
with the sole goal of making Chalky look good. After all, Fearless
Leader cannot fail or be made to look clueless.
How’s that workin’ out?
Meanwhile, markets put a war premium in and then take it
out.
Gold has some headwinds that bother me from a trading
standpoint: 1) Fed tapering later this month or later this year, 2) continued
Gobermint manipulation through JPM and the BIS [Bank of International
Settlements], and 3) the continued effort of India to restrict imports.
The problem with gold is simple; when they “kill it” it
comes quick and nasty and the stops get tortured with government WMD [free
money to JPM]. From the 2nd quarter of 2012, the manipulations get
bolder and the down moves more exaggerated as the Fed is determined to hold the
price down and, more importantly, hurt spec retail accounts who dare to remain
long.
Currency pairs continue to offer good trading opportunities,
with the Yen crosses drawing the most interest. Given the long term demographic
problems Japan
faces, along with wild Government spending dreams, and the needs of the
importers and exporters, the crosses should remain volatile well into the
future.
Of course, we can expect some days of lousy action while large
accounts plan their calendars, but overall volatility should remain above
average this year and next at the least.
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Have a good day everyone.
-vegas
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