[I want the USA back]

The dollar is down, compared to gold.

[blam]

Surveying The Carnage: Bullion Bounces, 30 Year Below 2014 Lows, Stocks Dump

"While it took a few hours for people (and machines) to realize exactly what China did last night, the fallout in risk markets is now clearly evident when a central bank decides enough-is-enough for speculative wealth creation bubble-followers. As we described last night, China's tightening has dramatically influenced the carry trade (USDJPY back under 120) and thus global stocks (from Abu Dhabi to Greece), global corporate bonds (all significantly wider) and European peripheral bonds (cracking wider) all face pressure. The beneficiary safe havens so far are precious metals (Gold > $1315) and US Treasuries (30Y at 2014 low yields). For now the mainstream media's narrative is that this oil-driven (which is fantasy as oil prices are up today) - this is the fallout from the marginal removal of $80bn of leverage collateral from the world's carry trades...

First - the winners...

(snip)

[Jabba the Nutt]

I have an MBA (non-financial), but this is a foreign language to me:

"Gold prices have surged this morning to their highest since October (over $1221) as leveraged hot money greatly rotates its repo-driven way out of risk assets and into Greenspan's alternative currency. However, there is a bigger problem for the biggest pairs trade that no one is discussing - apart from us - the decoupling of the long Nikkei, short gold trade as the repo market folds in on itself from the suck out of $80 billion in collateral by China..."

The italized parts are Greek to me. What's this in English?

[SeaHawkFan]

Is there some new definition of “surge” about which Iam unaware?

[DoughtyOne]

What’d I tell you folks. I predict metals aren’t going anywhere and what happens?

LOL

[Jet Jaguar]

Goldbug ping.