Are we starting to see the USD rollover?
On today’s market wrap we address a couple comments on the USD. Are we seeing the USD rollover and if we do see a rollover where would gold go.
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Sometime of news
…John the joker Kerry,….ask Ecuador to stop Assange’s wiki
Hilly wants to drone him(Assange)
Is there an open bar at the webinar….wondering minds want to know …
Unfortunately OOTB it is no host!
Ecuador cuts off Assange’s internet access …zerohedge
Hilly beast emails must be real interesting ,pay to play and Obama wants his cut
Wikileaks Provides An Update On The Assange Internet Outage
Conclusion from article…If the Obama administration is willing to go to such great lengths, literally escalating tensions with another superpower, to protect their candidate from whatever it is that she’s hiding then we suspect whatever WikiLeaks has yet to release could be really good.
http://www.zerohedge.com/news/2016-10-17/wikileaks-provides-update-assange-internet-outage
Really good…
My thoughts exactly, Marked.
CBS news is discussing the quid pro quo offer between the State and FBI from the emails.
Yes, it could be really, really good!
Politico’s Chief Correspondent To John Podesta: “Don’t Tell Anyone I Did This”
As if there was any doubt at this point that the media is fully in bed with the Clinton campaign, Glenn Thrush, Politco’s Chief Political Correspondent, decided to make it crystal clear in the following email to Podesta back in April 2015 in which he admits that he has “become a hack.” The email below from Thrush was sent to get guidance related to an article he published the very next day entitled “Hillary’s Big-Money Dilemma.”
I would need to see another source on this issue,
Al
Romans 1:28
ROMANS 2:7-9
Does this have anything to do with the open bar which we were discussing?
Actually, this is also dealt with, at length, in Deuteronomy and other parts of the Old Testament as you know.
Deuteronomy 30:16-18
Will this add, BIig Al.
http://www.lifezette.com/polizette/wikileaks-politico-reporter-asked-podesta-edit-story/
Al, here’s another…WikiLeaks: Politico Reporter Offered Clinton Camp Chance to Edit Story – Glenn Thrush says ‘I have become a hack’ in offering Podesta chance to censure his article
http://www.lifezette.com/polizette/wikileaks-politico-reporter-asked-podesta-edit-story/
https://www.publicintegrity.org/2016/10/17/20330/journalists-shower-hillary-clinton-campaign-cash
Not exactly un-biased MSM
Romans 1:20-24
The main election issue has become who groped more women. Trump with his octopus hands as one victim mentioned on CNN or Bill Clinton. It looks like the economy is doing great. Trump even mentioned the great medical system in the US and how Canadians come south to get operations which is incorrect. Amercans now travel to other countries when they cannot afford medical care. India is doing a booming medical tourism business with many Americans flying in for major operations that cost less than $10,000 including airfare.
Here is the state of the economy:
http://www.washingtonsblog.com/2016/04/47-percent-americans-cannot-even-come-400-cover-emergency-room-visit.html
Au contra ire, Canadians do indeed travel to the US, when they can afford it, and perceive it necessary.
E.g. In a situation where a wait for a CATscan in Canada can be of the order of months, as opposed to days in the US. Similarly for treatments too expensive to be authorized in Canada, but available at a price in the US. The reason, primarily, I live in the US is for the medical care. Despite being told to get my affairs in order and given 6 months to live after brain surgery 12 years ago, I’m still alive only because I live in the US. Unfortunately, I have just about run out of anything spare that can be cut out anymore, but my life is still enjoyable despite increasing limitations.
This and the ones that will follow are going to be seriously damaging to the Clinton campaign.
Empire Strikes Back: Democrats Attack Wikileaks & Obama Says Last Debate Should Be Cancelled – Martin Armstrong
In what may be the first official retaliation against Julian Assange and Wikileaks since the organization started disseminating the hacked Podesta emails, this morning WikiLeaks announced it has “activated contingency” plans after Assange’s internet link was intentionally cut off by a state party, WikiLeaks has said in a tweet. Meanwhile, David Axelrod, one of Obama’s top […]
“But other Jews were jealous; so they rounded up some bad characters from the marketplace, formed a mob and started a riot in the city. They rushed to Jason’s house in search of Paul and Silas in order to bring them out to the crowd.” Acts 17:5.
Silver on the SGE closed at the equivalent of$18.23 today.
Still holding in above $18, and I think is stopping the COMEX from dropping at the moment, although there could be another attack on Friday, after SGE closes, to shake some more weak hands loose. I don’t think London will try to drop prices.
Contrary to commentary on Kitco and other sites, here’s one example of where gold demand is not down.
Today GLD increased its holdings with a DEPOSIT OF 3.86 TONNES.
On the COMEX there is almost 27 TONNES OF GOLD currently standing for delivery.
This too may stop an attack happening on Friday.
China allows the RMB exchange rate to drop further against the dollar.
CNN…..1million dead voters ready to vote Demo….
Anderson Cooper says he plans to vote Three times
Jerry at least a DNC commissioner explains how it works.
In a video released by Project Veritas, James O’Keefe exposes what everyone except Democrats have known to be true. There is a lot of voter fraud.
In the video, NYC Democratic Commissioner of the Board of Elections Alan Schulkin is caught on hidden camera at a United Federation of Teachers holiday party admitting that there is widespread voter fraud in New York City.
“Yeah, they should ask for your ID. I think there is a lot of voter fraud,” said Schulkin, who elaborated on the types of voter fraud that are taking place in New York.
Voter fraud has been labeled as a right-wing myth by the left, but Schulkin, a Democrat, confirmed everyone’s worst fears, going against the grain of his own party.
“You know, I don’t think it’s too much to ask somebody to show some kind of an ID…Like I say, people don’t realize, certain neighborhoods in particular they bus people around to vote,” said Schulkin.
When asked about which type of neighborhoods the busing of voters takes place in, Schulkin confirmed that it was minority neighborhoods, adding, “they get busses and they move people around.”
Schulkin expressed concern over voter fraud and suggested that Mayor Bill de Blasio was to blame for a lot of the voter fraud taking place in New York City.
“He gave out ID cards. De Blasio. That’s in lieu of a driver’s license, but you can use it for anything. But, they didn’t vet people to see who they really are. Anybody can go in there and say I am Joe Smith, I want an ID card. It’s absurd. There’s a lot of fraud. Not just voter fraud, all kinds of fraud.”
Despite having disapproval with de Blasio’s faulty ID program and widespread voter fraud, Schulkin also expressed concerns over safety in the polling locations as well as the potential for voter fraud, specifically with regards to Muslims wearing burkas.
“They detonate bombs in the public schools, which we are using. That could disrupt the whole election…Your vote doesn’t even count, because they can go in there with a burka and you don’t know if they are a voter.”
It is clear after listening to a New York City Democratic Election Commissioner that the Democrats are in denial of the fraud that surrounds them. Schulkin confirms that voter ID laws are something that New York City desperately needs as a way to curb voter fraud.
In Illinois the Democrats target a lot of old folks homes.
It is very common to find 100% registration for postal ballots and 100% votes cast for the Democrat ticket, even from residents that die prior to receiving a ballot. This has been going on for decades. It was well documented in 1960 that the election election was swung from Republican to Democrat by fraud. The key Republican states of Texas and California were swung by absentee ballot and Illinois, a Republican state overall, was swung by a massive turn-out in the Chicago area under the Daley machine. The discrepancy between voting percentages for postal votes versus Election Day votes was extreme. Courts did not allow a challenge ,and several elections since have been suspect although never as at as extreme variance as the 1960 election.
I was describing the 1960 election above, in particular, but typed election election instead of 1960 election.
The Deep state gets a mention…
CLINTON’S FBI FILES LITERALLY MENTION “THE SHADOW GOVERNMENT” AT THE STATE DEPT. WOW.
Bill Clinton once reportedly told senior White House reporter Sarah McClendon, “Sarah, there’s a government inside the government, and I don’t control it.” Average citizens who talk about things like that, however, are typically referred to as “Conspiracy Theorists” as if its a pejorative term.
Then again, how much of a conspiracy is it when the FBI’s own documents confirm the existence of something referred to as “The Shadow Government”?
Check out page 56 from the FBI’s files on the Clinton investigation which is making the rounds on Reddit:
Finally
DeutscheBank will not be allow to fail, because it would bring down most of the world economic system.
The problem is that Italian, Portuguese or Spanish banks may be allowed to fail by mistake, not knowing or recognizing credit default or interest rate derivatives held by DB might also bring down DB.
Off topic:
There has been some coverage in the MSM of missiles fired from Yemen, and coverage of retaliation by the US destroyer taking out Yemeni radar.
Unreported is the fact that missiles from Yemen did destroy a Saudi ship a few days earlier.
This is the jay Taylor missive to which Big Al referred, I believe.
http://jaytaylormedia.com/are-we-at-the-start-of-a-major-commodity-inflation-cycle/
Current prices on SGE:
Gold. $1263.47
Silver. $18.32
Looking strong!
And who says there is no manipulation….
I just got a very interesting email.
Older police officers, eligible for retirement, are beginning to resign in very high numbers in California and Illinois, and rather than take normal retirement benefits for life based on a percentage of their length of service and final salary, they are opting for lump sum payments. While this, at first sight, may not seem logical in this low interest environment, the retirees are apparently sufficiently worried about the viability of the pension funds in those states , that they consider a bird in hand as much safer. This, in practice, may well cause the pension systems to run into problems much faster than projected.
The general public may be experiencing higher property taxes sooner, although there are limitations in California that limit taxing ability.
The latest coverage on activities in the Red Sea off Yemen:
A recession is coming — so hide in gold, says influential investor Raoul Pal
Published: Oct 17, 2016
Gold tries for back-to-back gain as dollar pulls off multimonth high
Published: Oct 18, 2016
Gold may regain ground in 2017 but ‘bumpy road’ ahead
Tuesday October 18 – By Reuters
http://www.kitco.com/news/2016-10-18/Gold-may-regain-ground-in-2017-but-bumpy-road-ahead.html
Gold Miners Working On A Bottom
by @Goldfinger on October 18, 2016
https://www.ceo.ca/@goldfinger/gold-miners-working-on-a-bottom
Just checked in briefly on Great Panther Silver. Not looking so hot…..
Great Panther Silver: 3Q Silver Production Down 13%, Gold Production Down 11% >GPL *
Wednesday 10/12/2016 08:31 AM ET – Dow Jones News
Great Panther Silver: 3Q Challenged By Lower Grades, Recoveries and 2 Temporary Shutdowns >GPL *
Wednesday 10/12/2016 08:31 AM ET – Dow Jones News
Great Panther Silver: Expects to Meet Production Guidance for 2016 >GPL *
Wednesday 10/12/2016 08:31 AM ET – Dow Jones News
In contrast Hecla does look like they’ve had a very big improvement in the Silver output over the last few quarters, and their Gold and Zinc is down some. Overall though, a very impressive quarter from (HL) and it looks like they are firing on all cylinders finally. They are regaining their Silver focus which is why most investors followed them in the first place. Impressive!
_________________________________________________________________________
Hecla Expects Most Annual Silver Output In Its 125-Year History
Tuesday October 18,
Wolfster – Like I mentioned to you yesterday, the trading halt in Callinex was due to their release of drill results today. They are quite impressive:
Callinex Mines Drills 10.3m Grading 13.1% Zn Eq. Including 4.2m @ 20.8% Zn Eq.
Drill Results Zinc Manitoba
VANCOUVER, BRITISH COLUMBIA–(Oct. 18, 2016)
Brixton Metals Drills 2 Metres of 1,084 g/t Silver at Langis Project
VANCOUVER, Oct. 18, 2016 – Brixton Metals Corporation (TSXV: BBB)
I hate to criticize Kitco commentary, but this is BS.
The so-called experts, are stuck in classical thinking.
The demand from Asia is changing things, and the “experts” are stuck in a rut, either believing statements coming out of China about gold purchases, or just not following real import data. The movement of gold out of Switzerland to China is quantifiable within a margin of error. The official data out of China accounts for only about 10-20% of gold exported out of Switzerland. Are we supposed to believe that 80-90% is lost at sea?
I was referring to the Reuters comment published on Kitco, about gold having a bumpy road ahead.
Good points CFS. I think watching the outflows from Switzerland is key, but it is also an error to assume it is all going to China (but definitely more than China is admitting publicly). Keep in mind Indonesia, Thailand, Cambodia, Vietnam, South Korea, Russia, India, and other parts of Eastern Europe that also snag Gold out of the Swiss masters (I mean refiners)…..
Avino announces Q3 2016 production results
NYSE-MKT: ASM TSX-V: ASM
“We are pleased to report another quarter of consistent production from our operations in Mexico. With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite the challenges faced in the second quarter. Although our overall output was down slightly this quarter, we are encouraged that the decrease was mainly the result of lower recoveries at the Avino Mine where mining activities took place in a new zone. Moving forward, we expect recoveries to improve as we optimize the plant for material from this new zone. Advancing our underground operations into new areas is fundamental to our goal of expanding both mining and processing operations. Further to this goal, we have commenced exploration drilling in the gap zone between ET and San Luis located within the Avino mine which we expect could significantly add to our current resource block at the Avino Mine.”
-David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Marlin Gold Announces Operating Results from La Trinidad Mine
VANCOUVER, BRITISH COLUMBIA–(Oct. 18, 2016)
Seabridge Gold Discovers New Higher Grade Zone at KSM Project
TORONTO, Oct. 18, 2016
I see the ESF gave a kick up to the general market this morning!
The administration is scared of a falling market,because that is about the only thing that gives the impression everything is fine with the economy!
Global Debt Grows and Central Banks Are Buyers
Tuesday, October 18, 2016 – Tim Taschler, CMT
http://www.sprottglobal.com/thoughts/articles/global-debt-grows-and-central-banks-are-buyers/
Who else is going to buy NIRP or ZIRP?
Agreed the Central Banks are buying because nobody else is. If they hadn’t the music would have ended back in 2009.
Tesla, Apple and Uber Push Lithium Prices Even Higher
By James Stafford – Oct 17, 2016,
http://oilprice.com/Energy/Energy-General/Tesla-Apple-and-Uber-Push-Lithium-Prices-Even-Higher.html
Classical supply/demand behavior!
The demand for lithium miners is not showing up in volume data though. That’s slightly troubling.
Most of the fickle deal jumper investors that were fueling in the LI miners, jumped ship to drive up the pot stocks for the Summer/Autumn. Where will these hot money trend followers go next? Biotech? Graphite? 3D printing? We’ll see how it shakes out…
Matt+Ex,
Every day I read one “great economic mind” after another telling us that the U.S.D is headed to the moon, also know as 110-125 level. They all make it sound like it’s the “no-brainer” investment of the century. Is this the kind of sentiment that marks a bottom in the other “crap” currencies or are these salespeople right? I’m sure there are a couple of smart people taking the other side of the trade. Unfortunately, they seem to not exist right now. At least according to the MSM-ers.
I was following along and getting the turns right in the US Dollar in 2014 and 2015, but about midway through 2015 I gave up trying to figure out the USD. It’s been in a sideways consolidation channel and stuck in a range for the last 2 years. It will definitely break hard, but I’m willing to admit I have no idea which way. (coin-toss). I’d recommend using an American Eagle 🙂
As for the Precious Metals and other commodities, I do like looking at the CRB index for the larger trend, but really look at each asset individually. The USD will have an impact, but as discussed in the past Gold, Silver, Platinum or Soft commodities (food) can move up in tandem with a strengthening dollar, and don’t have to be strictly inversely related.
Yes, the “no-brainer” consensus is the kind of sentiment reading that tends to mark a turn in the market, but such readings can last awhile.
The daily and weekly charts indicate that a pullback or at least a period of sideways action is likely to start soon but the overall picture has been improving lately. Still, I have my doubts about the potential for a significant new high coming soon unless there’s a stock or bond market crash.
Here’s what I said at the top in March, 2015 when everyone was worried about the FOMC meeting on 3/17-18:
http://stockcharts.com/h-sc/ui?s=%24USD&p=D&st=2014-07-01&en=2016-10-18&id=p92588344232&a=454118757
Btw, when it peaked last year, it hadn’t been so monthly overbought since 1985. That fact alone will make it difficult for the bulls to push it to a new high as there are now plenty of sellers waiting above 100.
There is total collusion between many of the central banks, so that no one currency gets totally out of line due to monetization of debt and the trade balancing mechanisms seem to be failing to drive exchange rates. Partly because China was buying US bonds.
Now, since China is buying resources, land, etc., those gollars are coming back home and being monetized. This will become a problem in the long term. It may be one reason why the FED wants to drive up interest rates, to make US bonds more attractiveabroad, in order to negate a dollar collapse. But it will be self-defeating because of having to monetize the interest payments.
Nothing happening .until after election is over….jmho