They have said what they were going to do and they’ve done it, and not only done it but produced very enviable results and going full steam ahead regardless of what the manipulated markets have done. I’ll take a hard worker over a big talker any day….. and yes I still own it and have added to it.
What’s not to like?????? SNG
I guess at the BRICS meeting China was pushing hard for everyone to use the Yuan.
ZH has an article out today saying China has bought twice the amount of gold originally thought.
What are the chances they beat everyone to the punch and come out with some sort of backing? What would be our response, other than lobbing nukes?
It’s always darkest before the dawn.
You gotta be in it to win it.
Anything works if you do.
Nothing ventured, nothing gained.
Plan your work and work your plan.
SNG
yet again, I dipped into some GFI a few minutes ago.
I mean, how bad can it get? Oh wait! 🤣😳
Your Contango definitely outperforming the last couple of days after getting smashed off $20.
It would definitely seem that one could run since it never really got going during the first leg up last year.
It does seem like we might bounce after the Fed shenanigans. Metals are holding well today.
Life is a song….so sing along and enjoy it! Sng
It felt like we were so close to the bottom, but then oil, rates, and the dollar all went up and BAM! Right back in the crappa!
SM and even Bitcrap don’t look good either.
How much worse will it be when they raise rates tomorrow?
Hope Jordan Byrne is onto something.
Jordan Roy-Byrne CMT, MFTA ⛏⛏
@TheDailyGold
The first hike of a new Fed tightening cycle marks a low in Gold when Gold weakens into the decision.
The bigger signal comes when the 2-year Treasury yield peaks.
After the last three peaks in the 2-year yield, Gold surged:
+215% in 2.3 years
+78% in 1.8 years
+63% in 9 months
they need some more interventions…
Zelensky Sanctions His Ex-Spokeswoman Yulia Mendel, Who Revealed to the World the ‘Open Secret’ of His Drug Abuse (VIDEOS)
Yesterday (13), it arose that Kiev regime leader Volodymyr Zelensky sanctioned his former spokeswoman, Yulia Mendel.
Mendel has left Ukraine, and gone public with a torrent of detrimental information about her former boss, including the fact that Zelensky profits from the continuation of the war, and – what’s even worse – she dared talk about the ‘open secret’ of his drug abuse.
metals are bouncing back, but shares are dead. Not fair again. 🙂
Energy Truce In Shambles: Ukraine Strikes Russian Refinery Despite Trump’s Warning Amid Global Diesel Crisis
SM was cratering pretty good earlier with oil jumping over $3 and the 10 yr at 5.04% a couple hours ago.
Looks like some intervention in the bond market as rates are now right at 5% and oil up $1.70, with SM futures coming back. Not positive but well off the lows.
Even pm’s are coming back, although we know that’s not because of the PPT support. What a ridiculous game.
I suppose we’ll see how serious they are.
These are some things to think about. Rate hikes won’t bring oil down but could affect demand. Could raise interest on credit cards, car loans, business loans. Also lowering rates may not have a automatic effect on housing loans if they lose confidence. He’s going to be paying more attention to what he says after the decision and why.
Short video a minute or two, I didn’t time it, was listening. Because when he says what the Fed says after especially if he raises interest rates will also presently affect PMs too.
Right so if they ever needed to sell it gold going down on the open market isn’t really good for currency that has gold reserves. Like it used to be when you could redeem gold for paper and back both could go up together. Now the different reflects how much paper promises has been devalued. Raising the price of gold without eliminating the debt and raising the value of the dollar, would just devalue the paper dollar more. At the same time they need the dollar down for trade. Being a reserve currency isn’t good for the economy. Electing or appointing mismanagement isn’t either.
They can revalue the gold to $100,000 per oz, but that’s as meaningless as the $42.22 current valuation. They certainly aren’t selling it at $42.22, just as they wouldn’t be buying it at $100,000.
Anything they say doesn’t mean a thing, their word is completely worthless, same with Iran apparently.
The Hormuz Letter
@HormuzLetter
·
1h
BREAKING: Ukrainian drones have just struck Russia’s Syzran oil refinery, with multiple fires burning across the complex, hours after Trump claimed on Truth Social that Ukraine had agreed not to hit Russian energy targets, that Russia had agreed likewise, and that the world’s diesel price rise “is mostly caused by the Russia/Ukraine War, not Iran.”
Syzran runs about 170,000 barrels per day, roughly 3% of Russia’s refining capacity. US diesel hit a record $6.23 a gallon today.
Right, that can change the price of their gold but not on the global open market price but I doubt if they’d buy it from individuals for that price. Why would anybody buy it for that price from them when they can get it on the open market. I can only see it as adding some insurance to something like treasuries but at that price not very much.
“Here’s the really important point
The government doesn’t have to back every dollar with one ounce of gold.
It could say:
“We will redeem $X for one ounce of gold.”
How can they do that? If they say “We will redeem $100,000 for one ounce of gold, you’d have the greatest arbitrage in history, with you, me and every other bug and his dog frantically selling to the govt. for $100,000 and buying back at $4,500 on the open market, a price that would rapidly rise to be sure, but at the same time would eliminate the gold reserve entirely. {edit: Ha!! got that wrong – the gold reserve would increase as they acquired more gold for $100,000/oz.}
As far as I can determine, and I could only get back as far as 1911 with data as to how many USD notes were in circulation, paper money has never been backed by gold. How can they do it now?
31 minute video of a 4,000 sq.ft. mansion in Minnesota built out of shipping containers.
