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Then The Tables Turned

https://intellectualfroglegs.com/the-tables-turned

Just click the link  should work.

I was thinking of the PM shares as being like an MC Escher painting … with stairs that only go down. Only joking a little.

I’m in for the long haul one way or another.

I told you about this years ago.

Even when they run out of physical the bankers will continue trying to keep commodity prices contained.

With consumers tapped for reals now, they must.

They must keep general price levels contained, giving consumers more money to pay the bankers ever increasing interest.

It’s either that or the Ponzi collapses.

One day it will get away from them but like you say…might be dead by then.

This is why I can’t understand why everybody is so bullish on precious metals with the bankers and their buddies willing to do anything to keep them contained now. Especially with the stupid speculators, both large and small, helping them by playing the game.

Like I said, it won’t change until these idiots (speculators) are dead (either literally or financially) because they are addicted gamblers with nothing to lose and looking to make up for previous losses — so they will never stop until they are dead. (i.e. this lunacy could go on another 10 years — who knows — you think somebody who bought in 1980 envisioned a 20 bear market? (certainly Doug Casey didn’t) — but it happened.)

Psychologically they (today’s speculators) are certifiable — not that many would agree with such an assessment because of the implications about our society as a whole.

Cheers

Last week Krudlow said rates would never go up again in his lifetime.

That’s funny, I was thinking gold would never go up again in my lifetime.

Now we have to worry about things like “Indian Wedding Season”

Geesh, I thought gold actually had monetary value, I guess Bitcon the invisible money has replaced paper and more importantly, real assets.

http://www.kitcometals.com/charts/zinc_historical_large.html

kitco shows lme warehouse stocks continue to drop.  stock on hand is half what there was in february.  this is only april.  a 50% drop in two months.

if this rate continues another two months, the cupboard will be bare.

is there some detail i am missing?  is lme warehouse stocks not a reliable indicator of inventories?  is everyone going to stop using zinc in june?  (corrosion prevention, alloys, medicines, fertilizers, pigments, coinage…?)  is there dormant production capacity that can be brought online without lead-time?  is there some huge unreported stockpile somewhere in the shadows?

if the kitco chart has any validity, prices should be skyrocketing by now

I have tried twice to short the S&P 500 since the lows in late-December taking small losses in January and a very small profit mid-March when it lost almost 100 points from the first assault on 2,800. Now we are comfortably above 2,900 and within 1.13% of all-time highs as macro-economic risks have been ignored as investors correctly EMBRACE, rather than FIGHT, the Fed and the tape. In early January, I was ruminating over the obscenity of the Fed and Treasury Department interference so blatant in late December and early January when I typed: “However, as I debate the notion of a V-shaped bottom for stocks leading to new highs in 2019, I am mindful of the results of the results of the Santa Claus rally and the First Five Trading Days rule which would suggest that 2019 has a 70-80% chance of being an “up” year.” Would that I could have listened to my own advice by going outright long instead of awaiting the now-archaic “re-test” which can only occur in free markets, not the abominations with which we must contend today. We are so very close to all-time highs with the interventions so powerful that it is a near certainty that 2,940 will soon be in the rearview mirror. I will refrain from joining the crowd of euphoria and avoid long positions but I will be looking to establish shorts in the event that the champagne corks are popping in the next two weeks. For the gold sector, the danger lies in the disappearance of “The Fear Trade” and with the seasonally-dormant “Love Trade” (Indian wedding season and Italian jewellery trade) purchases months away, the precious metals are vulnerable to irrelevancy, no surprise given the hostility of the interventionalists and the fickleness of cannabis and crypto zealots.

MJB

http://angrygeologist.blogspot.com/

Georgetown University students voted this week in favor of a resolution that will force them to pay an annual slavery reparations fee.

https://www.breitbart.com/education/2019/04/12/georgetown-students-vote-to-pay-annual-slavery-reparations-fee/

…that SLAVERY was abolished with the Civil War.