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Maybe it's my six year old.......
There should be no doubt whatsoever in anyone's mind that gold is being restrained, it's so obvious that it's laughable. You know when your kids try and cover up something, and they do such a bad job that it's quite obvious they did it, that you just have to laugh at the attempt? That's what it has come down to in the gold and currency market. Maybe it's my six year old that is responsible for all this; I wouldn't put it past her.
This morning gold was humming along up $10, when the PPI was announced, and as expected it went sky high but only for the things we need to live on: food and energy. This of course gave reason for the dollar to rally and thus knocked gold back to only up a couple of bucks. Screw the fact that stagflation is running rampant, screw the fact that oil went over $114 for a new record high, screw the fact that more and more of each American's paycheck is going strictly for food and fuel, screw the fact that many soft commodities (grains) are at all time highs, and finally screw the fact that there are food shortages all over the world that are leading to riots.
So what happens when crude finally has a correction, no matter how small it may be? Gold will prolly get the shit kicked out of it. What happens if the dollar keeps on rallying and oil corrects? Then gold will REALLY get the shit kicked out of it.
Tonight, Intel, which had lowered it's guidance twice since last quarter, beat it's very lowered guidance and the stock rallied a point and change. Everybody will be orgasmic tomorrow that the good times are here once again. Intel, earned .25, a quarter. Annualized that's $1.00 or 23 times earnings. Ohhhhhh......pinch me. I suppose this will make up for $4 gas, and I guess the housing and derivative situation has been taken care of also.
What is going on right now is complete bullshit and is a lesson in happy talk. In the words of Bruce Springsteen (BRUUUUUUUUUUUCE)....."The Country has been sold an illusion of itself."
All roads point to gold, even though there are literally hundreds of roadblocks set up to deter it from going to where it needs to go.
This morning gold was humming along up $10, when the PPI was announced, and as expected it went sky high but only for the things we need to live on: food and energy. This of course gave reason for the dollar to rally and thus knocked gold back to only up a couple of bucks. Screw the fact that stagflation is running rampant, screw the fact that oil went over $114 for a new record high, screw the fact that more and more of each American's paycheck is going strictly for food and fuel, screw the fact that many soft commodities (grains) are at all time highs, and finally screw the fact that there are food shortages all over the world that are leading to riots.
So what happens when crude finally has a correction, no matter how small it may be? Gold will prolly get the shit kicked out of it. What happens if the dollar keeps on rallying and oil corrects? Then gold will REALLY get the shit kicked out of it.
Tonight, Intel, which had lowered it's guidance twice since last quarter, beat it's very lowered guidance and the stock rallied a point and change. Everybody will be orgasmic tomorrow that the good times are here once again. Intel, earned .25, a quarter. Annualized that's $1.00 or 23 times earnings. Ohhhhhh......pinch me. I suppose this will make up for $4 gas, and I guess the housing and derivative situation has been taken care of also.
What is going on right now is complete bullshit and is a lesson in happy talk. In the words of Bruce Springsteen (BRUUUUUUUUUUUCE)....."The Country has been sold an illusion of itself."
All roads point to gold, even though there are literally hundreds of roadblocks set up to deter it from going to where it needs to go.
posted by Neal | 9:08 PM
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