America is not creating the right type of jobs!
After comments on the set up in gold, oil and the US dollar from Rick Ackerman we move into the topic of what the US needs to do to bring back solid growth. The issue is the type of degrees people are graduating with and the industries we are focusing on.
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Read this article earlier and somewhat surprised about how it turned out; but what will be the ramifications? Probably nothing but some fines and apologies and promises to never do it again. No surprise that HSBC is a party. They have been nothing but a giant criminal organization for years. JMO
So much for the 5 years Silver investigation. Now we know why the members of the CFTC bailed before the actual event had to be released..
There is evidence now that the Silver market is manipulated. When Lehman had to bail out of positions it caused a lot of panic. They have known about this for awhile. I suspect their will be many class action investor lawsuits against those banks.
The Panama papers is tardy in getting the next batch of names out. Corruption is at it’s finest, which causes confidence to fizzle. Negative interest rates will have folks chasing yield wherever they can get it. This should cause an increase in physical holdings in time.
Bankrupt Illinois……….decides to tax drivers……1.5cents per mile……, state also, losing 3000 millionaires ……..Land of Lincoln bye bye.
oh, there is lead in the water too…….
In Chicago, Ill. that is…………….kind of reminds me of the Romans with their lead drinking cups.
Why anyone would stay in Illnoise is beyond me. High taxes, lousy economy, awful weather, ugly country, super corrupt politicians…a hell hole.
Anyone who tries to leave is turned back at the border.
good one and two ………..gentlemen………..
Not even good looking women? Wow Ebolan, it can’t be that bad. Course I have never been there so I will just take your word for it.
Detroit and Chicago represent America’s future.
Can anyone explain why Jesse Jackson and Al Sharpton are nowhere to be found on this:
The left is called the left for a reason:
sinister (adj.) Look up sinister
early 15c., “prompted by malice or ill-will, intending to mislead,” from Old French senestre, sinistre “contrary, false; unfavorable; to the left” (14c.), from Latin sinister “left, on the left side” (opposite of dexter), of uncertain origin. Perhaps meaning properly “the slower or weaker hand” [Tucker], but Klein and Buck suggest it’s a euphemism (see left (adj.)) connected with the root of Sanskrit saniyan “more useful, more advantageous.” With contrastive or comparative suffix -ter, as in dexter (see dexterity).
For those who won’t bother with the link:
Meaning “evil” is from late 15c. Used in heraldry from 1560s to indicate “left, to the left.” Bend (not “bar”) sinister in heraldry indicates illegitimacy and preserves the literal sense of “on or from the left side” (though in heraldry this is from the view of the bearer of the shield, not the observer of it).
Cleveland will be next…….Cincinnati………Columbus……..Dayton……..Check out all the cities along the Ohio River…….Rust belt city since the 70’s………anything with a Democrat mayor………..is TOAST.
I lived in Cleveland, Cincinnati, and I have family from Dayton. Theirs days are long gone by, although, I’ve gone back to visit and there are many improvements and renovations that have been completed over the last 10-20 years that most are unaware of. Overall though, Ohio is flat, boring, full of corn, and run down.
As for Chicago, despite all the bad press and media circus with the shootings on the South Side….. It’s an awesome city, full of energy, some of the worlds best museums, some amazing food, breath-taking architecture, all the boats on Lake Michigan, and a vibrant nightlife. I’ve been there 8 different times from a span of 3-7 days each time, and visited many of the different burgs, and always have a great time.
The rest of Illinois is a hellhole though…..
Read somewhere Matthew that Chicago’s millionaires are leaving the city in their thousands fearing the imminence of riots.
I have a friend from in Chicago that said they’re leaving due to the high taxes and violence.
Cullerton proposes taxing Illinois drivers by the mile
https://www.illinoispolicy.org/tax-cullerton-proposes-taxing-illinois-drivers-by-the-mile/
Archie……read my comments………..ditto on the violence and taxes….All American cities will be in for an awakening on the real estate taxes…GOVT. Pensions are going to kill everyone.
I was actually eating at a window in Chicago in 2012 when the G8 Summit riots broke out in Chicago. I saw the mobs and the police clash and people actually threw a metal bike rack at the cops. I saw an officer holding a girl by her pony tail and beating her with a club. It was very ugly and made the news.
The very next night I went back downtown and only one guy would come with me because they were all too afraid of the violence as portrayed on the news. Well all these police were lined up on horses, and there were special military forces there due to all the world leaders. Suddenly you see the same mob walking down one of the main streets, all holding a single white candle, and in total silence. Thousands of people. It was a stunning sight I was happy to see. There was no news coverage of that.
Like I said up above I’ve been their 8 different times and loved Chicago every time have walked around at all hours of the night, and stayed in many different parts of town and never felt threatened. It is an awesome city and I’d recommend anyone visiting for a fun trip. Stay out of the South Side – that is where the crime and violence are bad. As for living there, it would be very Great Lakes & is an Urban Gotham, but so was Cleveland. Just my 2 cents as someone who was just there again last year, and several times the year before.
The Tax situation in IL is so terrible though, that financially, I can see why the millionaires are leaving. Ridiculously high taxes….
Stagflation means low or no economic growth, high unemployment and high price inflation.
Yes, we’ll see a lot more of that.
stagflation baby!
For those with an interest in Impact Silver, the shares are exhibiting more strength (weekly chart) than they did at the 2011 top (@$3+), or at any other time prior to 2011, for that matter.
Compare the RSI, Stochastics, etc readings from 2011 to now…
The MACD has a lot of potential to move much higher, too.
The 600 MA/$1.00 level is a magnet right now.
I doubt that. Impacts run is close to being over. Check your chart again. It still has a little gas but not that much by my reckoning.
It is definitely very overbought but that has been true for a long time. There has been nothing but strength lately, but profit-taking and top-calling action is here again.
Caution is warranted but weakness should be bought unless you think silver is going to fall apart.
I consider the .40 to .44 area strong support.
The vix is the best buy right now. I am all cash except the Vixy and VRX.
I had sold my (TVIX) on the recent spike on Tuesday at $4.73, but after watching the general markets march higher with such overconfidence and complacency, I decided the VIX is getting ridiculously low again. I just bought back a position in (TVIX)at $4.059 and will add to it in a big way if it dip down into the $3’s.
Those who focus only on price don’t know that the dollar is in worse shape now than it was at its August low.
With EMAs instead of SMAs:
Matthew since you do such a great job with charts would you mind putting a chart up for May corn and November soybeans I would really appreciate it. As I think the corn is putting in a bottom and soybeans have already had a good rally. TIA
November Soybeans:
Thank you Matthew that does help out a lot when I look at your charts!
The daily dollar chart I shared the other day, saying I had been expecting a bounce:
http://schrts.co/bfbLXu
Weekly $USD,
Major support around $92
the black downtrend line descends from the 1985 & 2001/2 tops in the dollar.
Rick see’s far. I enjoy his comments on the economy/world even more than his outstanding TA. Thanks Rick!
Rick oil made h&s top just as gold did and crb is rolling over. Thoughts Rick?
Oil has h&s top as well.
https://www.tradingview.com/chart/USOIL/Y3EsZY34-Short-Oil/
Crb is rolling over and didn’t make higher high.
http://stockcharts.com/h-sc/ui?s=$CRB&p=D&yr=0&mn=6&dy=0&id=p49348170292
Gold Bear channel still intact on gold
https://www.tradingview.com/chart/XAUUSD/kadxWoQ1-XAU-USD/
https://twitter.com/PeterLBrandt/status/720640285433159680
Mad Max – I like that Oil chart and have been viewing it the same way. Nice!
Looks like that pattern is already broken it appears
Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks
Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market.
The lawsuit, which was originally filed in a New York district court by veteran litigator J. Scott Nicholson, a resident of Washington DC, alleged that the banks, which oversee the century-old silver fix manipulated the physical and COMEX futures market since January 2007. The lawsuit subsequently received class-action status. It was the first case to target the silver fix.
Many expected that this case would never go anywhere and that the defendant banks would stonewall indefinitely: after all their legal budgets were far greater than the plaintiffs.
Which is why we were surprised to read overnight that not only has this lawsuit against precious metals manipulation not been swept away, but that the lead defendant, troulbed German bank Deutsche Bank agreed to settle the litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, Reuters reported citing a court filing by law firm Lowey.
Terms were not disclosed, but the accord will include a monetary payment by the German bank.
http://www.zerohedge.com/news/2016-04-14/case-closed-deutsche-bank-confirms-silver-market-manipulation-legal-settlement-agree