Loading ...I do remember that now. It does seem odd to me that the Ten Yr. has risen the last few days for .50% to .97%
Not sure of the correlation but I’ve seen ZH headlines saying the bond market is having issues.
Never ceases to amaze me just how low they can crush silver whenever they decide to.
Looks like pm’s are going to trade with the SM for awhile.
Disaster survivors can also find themselves without TP or running low. In sylmar quake they put up porta bathrooms but they don’t supply the TP. Luckily we could go to another town since all the stores were down too.
When I saw reusable paper towels made out of bamboo to over 60 times I bought some of them. They’re much more absorbable than regular and you can just rinse and wash them. Busy family’s can use up a roll of paper towels pretty quick.
Worse comes to worse in Hawaii’s case they’d be good to have around for emergencies.
the repo story came to the publics attention and was a daily news item ever since
Saying to put 10% of your money in gold because “it’s come down a bit” says further it might come down a little more but certainly “no where near a top”
There you have it.
R640 – You might get a 2nd chance to pick up your dream position in JNUG this am. 🙂
Commish – I figure if the Fed cuts again and has exhausted the markets with their liquidity measures and the SM still doesn’t stabilize, they’ll probably do just that – shut down the SM.
“The expectation has people who really do not understand the markets calling for the Fed to move to negative interest rates. They do not understand that the Fed cut the rates and then had to pump in $1.5 trillion into Repo to PREVENT short-term rates from jumping beyond 10%.”
Following the 911 attacks they shut the NYSE down. Since I believe that this virus is another terror attack just close it for a week or two til everybody catches their breath.
Yeah, I know the futures show down a bit for gold but that’s always from the Crimex close. I track GLD which is up $2.10 so approx. $21 smackers. Not great but beats the alternative.
SLV up $.15 – still sucks
Looks like the banks will do a little covering today in the futures, unless of course the SM tanks at the open.
Official Prediction: Tonight’s closing low in the Dow will NEVER be seen again – EVER
7.80…and, at $11.08, as I write, it is $3.20 off that low but still down $2.16….maybe GDXJ and GLD didn’t drop much in last nites trade.
April gold futures are $34 off the low but still down 5.50
QUESTION: No doubt you are being flooded with questions, so I’ll keep it short. Was it herd mentality that caused all of the sports exec’s to fall in line and cancel the distractive circus’s, or where they all alerted to the Coronagate distraction and told they would be bailed out?
CoronaGate is a better con the ClimateGate, as people hate viruses worse than pollution, and even if the virus does kill a large percentage of the elderly, it would cure the pension and Social Security Ponziviruses.
SS
ANSWER: I was just corrected by a staff member, I have been doing this for 50 years, not 40. I was actually called in for the first banking crisis following the birth of the floating exchange system in 1973. In all my years, there has NEVER been such an overblown reaction to such a minor disease.
Even the Firestone Grand Prix of St. Petersburg, Florida is still scheduled to run this weekend, but it will do so in front of empty grandstands, for a television audience only. A mayoral decree, made Thursday in the name of public safety in the face of the global coronavirus pandemic, bars spectators from the event. There is no justification for such a decree. These events are being TOLD by a central command to call off all such public events despite the absence of such a serious threat.
The CDC Officials are directing that large events should be modified, postponed, or canceled for the safety and well-being of event staff, participants, and the community. The details of any emergency operations plan should be based on the size and duration of your events, demographics of the participants, and the complexity of the event.
Schools are being canceled and universities are switching to online classes. Governors have been directing events to be shut down and they are being fed information by “experts” for CDC.
Drugmakers are racing to land a vaccine or treatment for the new coronavirus but the science takes time NOT because it is difficult to find the solution, but BECAUSE of the regulations that must be met before it is allowed to be administered. The cure can be accomplished in just weeks, but the regulation may cause a delay for months.
This is being organized to shut down the economy for something that is nowhere near an epidemic. There are serious benefits to keep this going. There is the hope that the economy will turn down so that it will undermine Trump for the election. But there are other issues at stake. The Democrats will most likely abandon both Bernie and Biden and our model has been showing that we are looking at the most violent elect in 2020 since the 1960s. That does not mean it is an uprising against Trump, but discontent of Bernie being denied a nomination once again. This has already been used by Hong Kong to shut down the protests. The shutting down of events is setting the justification to be able to shut down political protests in the fall as well.
There is clearly an incentive behind this and the crash & burn of this magnitude with European markets off by 33%+ from December justifies the cry for the elimination of currency for the ECB cannot go to -25% interest rates. The Dow is off 28% from its high.
While this virus may indeed peak out in April/May, it may mutate and be used again in the fall in time for the next flu season and elections. This type of virus is not reflecting something like aids that has a long incubation period and can hide in a person for years. The joke going around is that if it spreads with ticks and fleas, then we can face Corona with Lyme disease.
The expectation has people who really do not understand the markets calling for the Fed to move to negative interest rates. They do not understand that the Fed cut the rates and then had to pump in $1.5 trillion into Repo to PREVENT short-term rates from jumping beyond 10%.
These people FAIL to understand that in the middle of a panic like this, lowering interest rates is a joke. First, people will not borrow to try to catch a falling knife, and second, banks will not be willing to lend in the middle of a panic. Lowering rates is a fool’s game that has NEVER worked and this is why it’s collapsing – the theory of Keynesian Economics.
Thank God I don’t own those things but there’s something weird going on there, I suspect it has to do with the options they hold or something like that because JNUG is down over 11% this am while GDXJ is up over 13% – doesn’t quite compute.
Anyhoo – that pig will probably reverse split yet again.
Looks like the world’s central banks stepped in and bought everything overnight except silver.
If they can close the DOW up a couple thousand today maybe they’ll avoid another bloody Monday until the Fed cut on Wednesday.
Tickle & TIM can supply us with 60 Proof + moonshine to kill Corona ..just need to shut down ABC problem solved..
I really think that Hawaii started this toilet paper rush nationwide. As I have posted here before, back in the 70’s there were shipping strikes that stopped container loads of supplies to Hawaii. Toilet paper ran out in the islands for a month or two. Since then, any possible shipping disruption here and people run out and buy toilet paper here to stock up. I believe the first report I read this year was back in January when local social media reported the big box stores here were running out of TP at the first hint of coronavirus scare possibly impacting shipping to the islands. Those faceplant posts were picked up by YAHOO news and posted online. Shortly after that… the toilet paper panic spread nationwide. Thus are the fruits of ‘digital mob rule’. We are so sorry, America. Aloha from Hawaii.
