Posted on 07/06/2015 3:15:17 AM PDT by LukeL
Dow Futures are already down 125, Oil down 4.4%, Platinum down over $20.
The wife was telling me that European stocks ended up closing well anyway too. Don’t get me wrong even if it’s only a sore toe it can still cripple or kill if it’s ignored. Thing is that ‘muddling thru’ is ‘business as usual’ in the EU.
It’s your turn. You stated “Stockman is exaggerating.” Now, prove that he is.
You must know something far beyond the normal professional in Stockman’s line of business.
He needs your expert guidance to let him know just where he got it wrong so that he can send out a correction on his website. It’s wrong to let this glaring error be consumed and perpetuated by his followers.
A good one! LMAO!
Absolutely will! Yum!
ECB will determine if or not they remain in the Greek Game. July 20th mega bucks due...if Greece doesn’t negotiate with them and instead moves toward printing their own...they will immediately be cut from the EU.
I suppose in your rush to appeal to authority that you didn’t notice that Stockman didn’t write the article.
Even so, the article blames the belief in the PPT to conspiracy theorists.
The article is making the point that the FOMC influences the markets and it most certainly does, both up and down. The so called PPT, which doesn’t exist, is only supposed to influence the market in one direction.
Part of the issue this year with gold is that we routinely see and judge it priced only in U.S. dollars.
Check out gold-related pricing in Euros:
http://www.xe.com/currencycharts/?from=XAU&to=EUR&view=1Y
Or in Japanese Yen:
http://www.xe.com/currencycharts/?from=XAU&to=JPY&view=1Y
Or in Australian dollars:
http://www.xe.com/currencycharts/?from=XAU&to=AUD&view=1Y
Etc.
The dollar - and gold - have been up vs. these and many other currencies this past year, which masks how gold has fared against those other currencies.
There is little doubt that the Federal Reserve doesn’t want people rushing out of dollars and into gold. Gold is the historic benchmark against which currencies have been valued. There is a long, known history of central bank intervention in gold markets to influence how currencies are priced against gold. Why would now be any different?
With stocks and bonds now being actively and openly bought by central banks for the express purpose of manipulating markets, exchange rates and interest rates, and holding back bubble collapses, I think it is much easier to believe that central banks are intervening in benchmark gold prices when it suits their policy objectives than to believe they have stopped such historic, proven practices in these unstable, unprecedented and risky world financial system circumstances.
Message received - thanks, I needed that...
BTW, did you get the Ronald Reagan AND Monty Python reference?.....................
Got the Reagan one - missed the Monty Python part. Thanks for insuring I got the full effect - it gave me pause to chuckle.
The Monty Python part is from the skits they did where a London Bobby would come into the scene of some minor disagreement from the other actors arguing over some picayune, pointless falderol and say, “Stop it!”...........................
Add me to your investment & finance ping list please.
Thank you.
I remember - need to try to acquire the Monty Python "smorgasbord" on DVD for posterity.
all set!
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