Friday and The Doctor is In
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brother franky, in order for the greeks to stay in euroland, Mickey mouse will need to steal some cheese from some swiss bankers. They have a big loan payment coming in a few weeks, and the ECB says no more cheese from the rats on wallstreet, the golden cheese master has spoken.
YOU WILL SEE DAY STAY AND MORE WILL COM THE THE MONOPOLY GAME ! Don’t worry ! GREECE COM IN THE NEWS FORE BANKS TO PLAY THE MARKETS ! MARKET VOLATILITY is good fore HIGH FREQUENCY TRADING ! ALLL CORRUPT !
you correct……ALLL CORRUPT.
Bankers must go to JAIL ! NO JAIL NOTHING CHANGES !
we are going to need to have a jail in Siberia, for these cold hearted bast…s. Uncle Putin say they have frozen cod for a cell mate.
Are you referring to Franky’s comment, Frank?
I think so……..
I am sorry Frank, the comment about the ECB is completely without foundation.
I WOULD SAY ……….GIVE IT …..THE BOOT
Frank from Moscow….The Boot.
I love the new catch phrase – “I WOULD SAY ……….GIVE IT …..THE BOOT”
It ties in to our discussion on yesterdays Rick Ackerman thread. We played.
that should have said “Well played” and not we played – Ha!
Shad 🙂
Big Al – Frank is saying that Greece has a big loan payment due in a couple of weeks, the ECB doesn’t want any wallstreet intervention. I am not sure that is a foundation, but he is just expressing his opinion of where they may go (Switzerland)?
🙂
Shad, you my new comrade
if I run for President of Americka , you be my new campaign manager
We’ll get some Boots on the ground for your presidential campaign Frank…..The Boot.
That sounds like a good plan Frank from moscow.
I’ll make sure the people know you are the golden cheese master 🙂
That’s the spirit Gold to the Quadrillion!! Yes, we need boots on the ground.
See Frank we already have eager voters ready to march on Washington; – )
You know if I run for the presidentia , will my Russian passport be ok , I not born in amerika us of a, I told you not need one to be big cheese.
you know , one of those origin of birth, what you call birth certificate made in usa
Not a problem Frank. We don’t check or care anymore who runs the county; all that is required is a pulse and the ability to fog a mirror and you’re in. Born in Russia = not a problem. Heck, you could be from anywhere, even Kenya, and be president of the USA. Just let us know when you want to start your Big Cheese 2016 campaign, and we’ll mobilize the people Frank.
GOLMAN SACHS ! BANKSTERS ! https://www.youtube.com/watch?v=2V_pEZ00Wyc#t=183
No legal mechanism exists in the EU to kick the Greeks out of the Euro.
The Greeks have said that they will not leave the Euro.
The Greeks can default – not make a repayment – but the EU cannot currently kick the Greeks out. There is no legal mechanism for any Euro country to be kicked out of using the Euro.
Add to that that no EU country wants Greece to leave the Euro.
Checkmate is approaching.
So you are saying they can default and still remain part of the Eurozone and Euro family? That’s interesting. So basically the Troika has no teeth? How can they enforce their claims other than through persuasion?
Don’t make the mistake – which I often see on US sites – of confusing the Euro and the European Union. You can be part of the European Union and not use the Euro.
The UK is part of the European Union but does not use the Euro.
The same is true of Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden. They are all European Union members but do not use the Euro.
Norway, Iceland, Croatia and, I think, Liechenstein are not part of the EU but are part of the European Economic Area – which means they are basically considered EU members but they just haven’t signed up. None of them use the Euro.
If Greece defaults on its debt there is, I repeat, no mechanism to kick them out of the Euro let alone to kick them out of the European Union. There would have to be special meetings of the European Countries and, I strongly suspect, several of them would vote against kicking Greece out of the Euro.
In fact, in legal and democratic terms, it could go to a vote of every person in the European Union. We all had a vote about going further along European Unity – although the politicians did not tell us what we were truly voting for at the time and the Irish, when they voted no, were asked to vote again – so it will be very, very interesting what happens, and what people try to make happen, when Greece does eventually default.
The EU countries above which are not part of the Euro aren’t going to vote to kick Greece out of the Euro when they, themselves, are not part of it. Also other weak countries – Portugal and Spain – night consider that Greece is being bullied and side with Greece.
Greece can stay in the eurozone and still use the euro—-they can still default and use a different domestic currency.
Thanks Bob. Thanks Doc.
that’s an interesting suggestion. Would they have parallel currencies in that case?
The crucial thing is in what currency will their debts be denominated?
If it is still in Euros then their debt could double in terms of the size of their economy and make things even worse. If bonds are re-denominated in their domestic currency then there will be major losses for creditors and a danger of systemic failure.
Major QE would be needed to buy all the junk, although I suppose 400 billion Euros of junk Greek bonds is not too much for the ECB to print or guarantee. It’s chicken feed compared with the loan guarantees the Fed made in the 2008 crisis.
I thihk it’s all kind of academic. The whole thing is a can-kicking exercise to devalue the Euro for the time being and to delay the inevitable.
Sadly the non-academic thing is that this crisis will essentially continue indefinitely because Greece has no way to be competitive and retain its culture as Greece.
Interesting points,Bob UK
Sell-off today is entirely due to the news out of China. Next week will be very interesting.
The Chinese news negates all the charts for the DOW, NASDAQ, FTSE, DAX, etc, because we are about to see heavy shorting in Chinese stocks. If China goes down then it will take the rest along with it.
Another sideways fizzle day for yellow.
Jason, I just wanted to take a moment and let you know that I am a fan of your insightful commentaries, range of topics covered, and deep analysis you offer everyone. I compiled a small list of your daily editorials over the last month in case anyone else missed the content.
Cheers!!
On April 17, 2015 at 10:22 am,
Jason says:
Get well soon there Al. Really kicking myself for not taking 11% on gold yesterday. I got greedy. Have to wait it out. Still got a good bear position on gold as plan B.
On April 16, 2015 at 6:12 pm,
Jason says:
I missed a chance at 11% profit on gold today because I got greedy. Just glad I have a good bear position as a backup!
On April 16, 2015 at 9:03 am,
Jason says:
Missed my chance at profits on NUGT twice today. Got greedy. Bag holding again until I can sqeak out 10% profit.
On April 14, 2015 at 1:41 pm,
Jason says:
All I care about is when gold will stop the sideways trading so I can take some profits?
On April 15, 2015 at 7:49 am,
Mark says:
JASON…………..look for profit taking in GOLD for the months of MAY and JUNE! Happy trading!
On April 10, 2015 at 10:58 am,
Jason says:
I am still stuck between JDST and NUGT! Also resisting the urge to short Russia.
On April 10, 2015 at 11:42 am,
Bob UK says:
Perhaps best to do neither then for now?
On April 7, 2015 at 8:19 pm,
Jason says:
My neighbor’s female pit-bull is named Avi. Just saying.
On April 7, 2015 at 6:57 pm,
Jason says:
I am stuck between NUGT and JDST! Both bouncing red and green today sometimes trading near the same price!
On April 6, 2015 at 7:35 pm,
Jason says:
Averaged in on NUGT at $11.17. Bought JDST at $8.98 today as a hedge. I have $1006 down on the table that gold goes above $1225 and $550 that gold drops below $1210. Taking profits either way.
On April 7, 2015 at 3:13 am,
Biggus says:
Jason…I don’t get buying both NUGT and JDST at the same time….that’s like cancelling each other out and you also have the erosion in price with both of these 3 x etfs? Your rational?
On April 7, 2015 at 1:17 pm,
Matthew (ignoring Birdman) says:
What Jason is doing is legit. If (when) the market goes against his long position, his short position will grow and give him the ability to buy more into the dip. A cash reserve obviously can’t do that. It’s psychologically beneficial too, since it allows a move against your core position to be seen in a positive way.
Just my 2 cents. Jason can probably add a few things.
On April 3, 2015 at 12:29 pm,
Jason says:
Were those money changers JEWS by any chance? Just wondering. lol
On April 3, 2015 at 9:50 am,
Jason says:
NUGT and UWTI gonna be on the climb on Monday! $$$ So how is that hope and change working out for you?
On April 1, 2015 at 7:31 pm,
Jason says:
Sold JDST yesterday for 23% profit. Looking for a reentry under 10. Might have to average down on NUGT since I am in at $11.17.
On March 31, 2015 at 1:57 pm,
Jason says:
I’ll take my profits while the big tent is still up. Took 23% profit today on JDST. Sorry PM nerds. I had to cash in on some of your PAIN.
On March 28, 2015 at 12:21 pm,
Jason says:
Learn how to chart. Charters make $$$ and fundies don’t.
On March 27, 2015 at 1:01 pm,
Jason says:
I’m up on the short side of gold miners and Russia today. JDST and RUSS. Might be able to take profits next week. I’m red on the bull side of gold.
On March 27, 2015 at 12:35 pm,
Jason says:
DARN RANGE TRADING! I am stuck on both sides of the gold trade. I need NUGT or JDST to move up about $1 to $2 so that I can take profits. They are moving up and down about 50 cents. Ugh!
On March 27, 2015 at 12:40 pm,
glenfidish says:
Jason you got balls of steel to trade those vechicle’s on the daily lol.. My wishes you come out of that trade on top.
On March 27, 2015 at 1:01 pm,
Mark says:
Yes………..it’s very tight right now!
On March 27, 2015 at 3:51 pm,
Shad says:
Been in that same position a number of times Jason….You will survive, but it is very nerve-wracking when you’re in the pressure cooker!
On March 26, 2015 at 1:30 pm,
Jason says:
I jumped over to the bear side of things today in JDST and RUSS. Bag holder on NUGT. Will have to average down.
On March 26, 2015 at 4:58 am,
Jason says:
Well PM nerds it looks like I might be taking profits today.
On March 25, 2015 at 10:02 am,
Jason says:
Still holding NUGT. I need gold above $1200 so that I can take profits.
On March 26, 2015 at 7:26 am,
glenfidish says:
jason you have been absolutely on fire with nugt and dust call.. Please throw us a free bee when you decide to go dust.
IMHO, an interesting article from Financialsense:
http://www.financialsense.com/contributors/taki-tsaklanos/what-really-driving-gold
GL to all investing/trading
LPG
Short term negative, market perception and expectation of PIIGs Domino effect. Long term positive for Europe in general. The designer of the Euro admitted it is flawed: http://www.businessinsider.com/jacques-delors-euro-flaw-2011-12 Greece does not owe the odious debt incurred by past administrations; i.e. Goldman Sachs operatives adding to their Swiss bank accounts.
Will Big Al be on the weekend show? I will settle for Slurry Al as he sounds just fine to me. As I said before, Big Al Korelin is indestructible.
Eddie,
I don’t feel so indestructible right now.
Thanks for the kind words.
We all want to hear you Al, slurry or not! Hopefully, not slurry eventually, of course. Hope you feel much better very soon, Al.
Thanks Dave, today is, so far, much better. Best to you!
There are some heads and shoulders formations in gold thata re a little worring. The right shoulders are currency forming.
Approximately,
In US dollars: measured move is about $140 from $1160 neckline to $1010 (currently 1200)
In GB Pounds: similar move to about 675 GBP (currently 802)
In Euros: similar move to around 950 Euros (currently 1112)
Check feasibility of ratios
GBP:USD would be around 1.49, OK, just less then now at 1.50
Euro:USD qwould be about 1.06, just below here at 1.08 right now
So figures sound sensible.
New range for gold could then be $1000-1150 mimicking current $1150-1300 range.
I meant “currently;y forming” and measured move should be -150 in USD instead of -140 but it is approximate anyway and just a notion.
GREECE STAYS IN THE EURO ! And we all go in a NEW WORLD ORDER !