Posted on 09/02/2015 3:22:03 AM PDT by blam
Gold was marginally higher yesterday and closed at $1135.50 per ounce, up $1.10. Silver was 0.3% higher and closed at $14.64 per ounce.
Gold rose 3.5% in August as stocks globally saw sharp falls on growing concerns about the Chinese and the global economy. Silver was 1% lower for the month of August and also acted as a hedge from falling stock markets globally
Is this the "Plunge Protection Team" we've read about?
Later
China’s government cannot permanently underpin the stock market.
First, a declaration by the Chinese that they would no longer support the market; second, an indication that Chinese are selling American treasuries.
Are the Chinese selling American treasuries to use the money to intervene in the market? It seems highly unlikely that the Chinese would intentionally drive up interest rates on American treasuries to tank the American economy and in the process commit economic suicide by losing their own market.
Did the Chinese lie about their decision not to prop up their stock market? This article is alleging just that. Are the Chinese out of money with which to prop up their own market and need the money from American treasuries? Not likely, the Chinese simply printed money in 2008-2009 to prop up their economy and could do so now. That would aid them in their original purpose of devaluing their currency to make their goods more competitive.
I confess I do not understand what is going on. But I do have an understanding that what is happening could be terribly, terribly important for our own economy.
the fallacy is believing understanding is possible
the markets are in turmoil precisely because understanding is not presently possible
I’m going to need a lot of popcorn this year. Just like watching a movie. Remember rollover? :-l
The NYSE staged a “dramatic recovery” just a couple of days ago.
Just wait until after September 13th! Then the fun REALLY begins!
China certainly has a different set of morals.
Rollover was a high tech financial thriller for its time. Its tech is laughable today and probably had as much horsepower as an iphone. Great movie/
Jeff Berwick-Nothing but Black Swans Ahead
https://www.youtube.com/watch?v=9DT4qrrRe7Q
Another one?
Reference.
You're not alone.
In a morning note to clients, Deutsche Bank's Jim Reid wrote of the volatile market environment: "One of the biggest problems we face is that there is no historical template for current global market conditions so were all flying blind to a large degree. Never before have so many of the most important countries in the world printed so much money and left base rates at near zero for so long. Also never before has the largest economy in the world tried to start a slow process of reversing said extraordinary policy."
China has a PPT? Imagine that....
and I have a bridge over the Yangtze River I’d like to sell ya....
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