I simply do not understand the rationale of the D’s!
Jeff and I posted a Daily Editorial last Thursday on this topic. Today it was brought up again by Newsmax.
What do the D’s have against one of the greatest women of all time?
Report: Senate Democrats Blocking Resolution Honoring Thatcher
Senate Democrats are holding up a resolution to honor former British Prime Minister Margaret Thatcher, who died on Monday at age 87, a Heritage Foundation affiliate reports.
The resolution was to pass late Wednesday in the Democratic-controlled upper chamber, said Katherine Rosario of Heritage Action for America.
The group is a sister organization of the Heritage Foundation.
Meanwhile, the GOP-controlled House of Representatives on Tuesday unanimously passed a resolution honoring Thatcher, The Daily Mail reports. It was introduced by Majority Leader Eric Cantor of Virginia.
The tribute cited Thatcher’s “life-long commitment to advancing freedom, liberty, and democracy and for her friendship to the United States,” according to The Daily Mail.
“To refuse to honor a woman of such great historical and political significance, who was deeply loyal to the United States, is petty and shameful,” Rosario said in her Heritage blog post.
“One truly has to wonder, what is it about Lady Thatcher that gives them pause? Her unfaltering commitment to freedom? Or perhaps the way she fought for individual liberty and limited government?
“Lady Margaret Thatcher was a principled politician who helped to foster the special relationship between Great Britain and the United States that we all benefit from today,” Rosario said.
Thatcher, who died in London, will receive a ceremonial funeral on Wednesday. Among the more than 2,000 guests expected are Queen Elizabeth II and her husband, Prince Philip.
The last time the monarch attended a prime minister’s funeral was when Winston Churchill died in 1965.
Other guests include former House Speaker Newt Gingrich — and three former British Prime Ministers, Sir John Major, Tony Blair, and Gordon Brown.
© 2013 Newsmax. All rights reserved.
Kinda reminds me of my wife and three daughters, Dennis M!
Big Al
AN explanation of what happened ACTUALLY on Friday….Pure manipulation:
http://news.goldseek.com/GoldSeek/1365969600.php
Read and be amazed.
I`ve put this on my Facebook page.
What do you expect from the old boy’s club, women still aren’t regarded as equals and successful women even more so. Can you imagine how smart she was to be able to become Prime Minister and then defeat the trade union movement in Britain.
Gordon Brown who was The King Of Gold Fools and a total nincompoop is attending, yet he feels no shame for the legacy his government left for the British public. DT
Good point Machine Gun!
Big Al
Snap to that DT, Andrew
Your description of Brown as a nincompoop is actually way too kind, Dick.
Perhaps if we just deleted the “nincom”…
concerning Thatcher…..IRISH Tony….should tell us what he thought of her….oh,btw Tony keep it clean……ootb
Jerry, I think you may have opened a can of worms, although we will see. DT
DT….no such thing…..WORMS….there is some significants to Worms….in ENGLISH history……I bet Irish can fill us in on that one….ootb
“Sir, we are all worms. But some of us, perhaps, are glow worms.”
— Winston Churchill
JERRY……I could say a lot about that women, but right now i will remain stum……..
What i will say is , i went into battle against her over the POLL TAX..i was one of the founder members of the south London anti poll tax movement, which later went on to become a Nation wide revolt against it, i traveled to meetings across the country& spoke at some of them , The socialistic party’s tried to recruit me , & were amazed when i told them i was not a socialist, i was involved because this tax was aimed at the most vulnerable in society , to the betterment of the well to do …….I will stop now before i start swearing………..Poll tax..Bail out’s for the banks = more for those at the top , at the expense of those at the bottom………………….
THE PARASITES MUST BE FED.
GET YOUR MONEY OUT OF THE BANKING SYSTEM…..STARVE THE BEAST.
Interesting. Politicians everywhere remember Thatcher for her famous tax. Today, when they intruduce similar crimes, take great care is taken to put a social or ecological veil around it, and they call it a fee or insurance.
Tony, you’re right Mrs T was in many ways a complete enigma. Great that she brought Scargill down in anyone’s book surely. But her poll tax was a clumsy, uncouth tool demonstrating in stark relief her courage versus her callousness.
Captialism without compassion (mining communities up here are to this day still at loggerheads) is just as pernicious as socialism without repsonsibility!
Best,
Andrew
Andrew…Scargill , yes that had to happen the man was a danger to this country, but in her blind anger to destroy this man , she also destroyed half the country & destroyed one of our biggest industries…..The knock on effect is still been felt today.
Agree Tony. In many ways M.T was a mighty weird character with little or no heart.
Maggie Changed for a while the course of collapse into the abyss of socialism in the UK.
Alas it was trmporary, because although Cameron tries to do the right thing, he does not articulate the necessities of austerity suuficiently well, and with a coaltion Government he is perpetually worried about losing on a vote of no confidence, which would end his government. The Iron Lady, maintained her convictions through strikes and oppostion until she was stabbed in the back by the chauvanists of her own party, only to be replaced by the Major wimp, so middle of the road as to be indistinguishable from Tony Blair and his side-kick Brown.
Thanks cash!
Big Al
Any adulation or honor that the Demlibs might be tempted to give Thatcher would further enhance the Gipper’s legacy in history as they were ideological soulmates.
And that’s the truth!
Big Al
And it is this very Reagan legacy that will be reponsible for the re-birth of the R’s even though he has been dead 9 years.
Mr Dai, I believe you will be proven to be correct.
Big Al
REAGAN WAS PART OF THE ON GOING PROBLEM…..he sold out the country on the energy scene…..and helped the oil companies gain big profits….by stamping out the FmHA…IN trade for to the DOE and ARCHER DANIALS MIDLAND…..and we are still paying for his actions…..
Jerry…& Thatcher done the same in the UK , Sold the oil to outsiders , along with the rest of the family jewels……Yes they were good buddy’s.
Who is Jerry?
IT BE I ,MATEty…….you might have miss read it …..REAGAN & THACHER ,it was ment
Sold off the trains, the roads, the water system……on the cheap.
But don’t you think the positives outweighed the negatives.
Big Al
I never ceased to be amazed at people who think profits are bad and big profits even worse. When will they ever learn that profits are what allows companies to grow and employ more people?
We have OSHA and the EPA to protect from exploitation. We have a taxation system that is UNBELIEVABLY progressive; nothing like a fair flat tax, and yet people still complain about profits. On the other hand we have blatant croneyism where the country’s assets in the billions of dollars are fed to friends who made campaign contributions, and we don’t hear a peep.
02;43 …here in the UK…Just looked at the charts, Silver is getting slaughtered again , more so than gold….Whats going on…is this outright war against the little fella with a small holding in silver………”THEY” FEAR THE SILVER BUGS MORE THAN THE GOLD BUGS BECAUSE THERE ARE SO MANY OF THEM. …..Going to bed before i explode..night all.
this is just a double shot…..LONDON HAS TO GET IN THE ACT TO HELP THE FED….
This is the beginning of the end….for the cartel….this ,,,along, with the dirivatives and the boyz can say good nite…..with $1.2 quad trillion…..I think they have overstayed their welcome……..
The Rothschilds of London own nearly every central bank in the world, of course they can dump paper forever, hoping the gold/silver bugs will get out of the physical marketplace for good.
Dennis F……Not to mention most of the media & most of the politician’s , & perhaps half of the gold on the planet, i have been reading of late that they are moving into Asia in a big way………..MORE PLUNDER.
LONDON SEEMS TO BE THE PROBLEM….according to KWN…..
What irks me is if a small business with 10 employees earns $1,000,000 per year, or $100,000/employee/year, that’s a perfectly acceptable income, but if a large business with 10,000 employees earns $1,000,000,000 per year, they’re greedy.
A bit of a misconception option John W!
BigAl
Gold upm$18 dollars, I refresh the screen and it’s down $16, refresh it again and it’s down $26. This is turning into a slaughter. I think tomorrow a lot will be dumping physical. I think I am quickly going from being the guy who bought gold and made a lot of money to being the crazy uncle who has gold underneath the floorboards waiting for it to come back 20 years from now…
James, most of the writers are calling for a puke point plunge in gold prior to a bottom, we are not there yet. I however have puked several times but not sold. When the markets open tomorrow expect margin call selling, fund selling, small investor selling, I would expect a $100.00 or more down day Monday.
HOLD THE COURSE…….ruff waters ahead,,,,,
ruff….was thinking of the dogs I have……
Good call BOBBY, gold down$116.00 11:00 am.
good call bobby…..
Irish, if you can hang in there for one week, I think that is the maximum time before supply ofphysical gold runs out. Sinver is still weeks away, but running out of physical may crash all paper markets. I do hope the Government does not bail out JPMorgan.
cfs Oh i’m hanging in allright , iv’e been on this roller-coaster for so long i am beginning to enjoy it….i can see a peak in the distance……………Arm’s Up…….
WHEEEEEEEEEEEEEEEEEEEEE.
thanks for the post….this will make some weak knees leave the mkt….but, it is just a last ditch effort for the cartel to exert a full assault ……I expect some more selling in the morning NY TIME……THIS COULD BE THE FINAL SHAKE OUT…..
great post bobby……
BTW……HAS ANYONE HEARD FROM DAVE MORGAN…ON THE SILVER…..
jerry, kerry lutz did an lengthy interview with himtoday;
financialsurvivalnetwork.com
thanks bobby…..I could not listen to him for over 30 sec…..I think the guy has gone kookoo…..spike high,spike low……I may have to put him in the box,with Cramer….
looks like Apmex has a supply of silver available, I am looking for $19.00…I refuse to average up. BTW you will get a kick hearing how morgan “saw it coming”
ditto…..on the” saw it coming”…….where is that $70 per oz….in 2012…..
morgan has done a lot for the sector, but, like everyone else really cannot predict what will happen. I did not renew his newsletter when he went haywire during the last big takedown. (the year of the junior) that never materialized.
If you read your Bible, Ecclesiastes discusses a time for everything. A time to buy and a time to sell. When gold hit $1900 suddenly there was 3 TV shows about gold mining and everyone loved it. Yet some people said it was time to sell. Larry Edelson, Martin Armstrong, Puru Saxena to name a few. Nadler getting fired was an indicator. Bearish analysts get fired at tops, not bottoms.
I have been on the sideline since $1800 when the third TV show about gold mining debuted. I will reload around $1300.
nothing is new under the sun……..
Nailer has always been bearish. He is an anti gold stooge. The bible also says wealth gained by vanity will be lost and wealth ganed by labor will increase. Speculating is vanity. This is not investing, it is speculating pure and simple
Nailer is another Lord Haw haw!
Bobby – these analyst who are calling for a puke point.if this isn’t a puke point I don’t know what is. What does it take to finally puke? It’s over. And these unsubstantiated articles about physical supply drying up, just bloggers with no facts to back up what they say. They have their own agenda.
Ultimate Puke Point: when you see the family of the gold and silver bugs line up to SELL at the LCS, the bugs themselves under heavy medication, unable to shout HUGE BOTTOM! BUY!, let alone put their empty rental truck into reverse gear.
impeach, you got it, and we are not there yet. Soon you will here them right here on this blog yelling sell, thats the time. Heck we are barely back to prices of 2 years ago at this point.
James, I don’t know why I really bother, but it is possible to track LBMA data, and while they do not publish data in a very timel manner, on can with a little bit of extrapolation, based on volume data, which is available to deduce amounts in the vaults. Not perfectly, but a fairly good approximation.
E.g.
http://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_table
timelY manner, onE can…
I have a relative who occasionally does lunch with Stewart Murray, and while he will not give out exact numbers on any day, he does make comments about looking for sources to keep from, as he puts it, emptying the cupboard.
The monthly report is at, e.g. March:
http://www.lbma.org.uk/assets/Clearingstats20130328.pdf
Is that enough to back up what I post?
James, I am not sure about the physical supply…..yes, the premiums are high, you must pay up, but some, not all, types of gold and silver is still available, as far as i can see. http://www.apmex.com. I am sure that the big retailers, forced to sell at a loss, are not happy.
This bull market can’t come back because late comers will be rewarded and that never happens in a market.
GOOD POINT on the late comers…..something to think about……..I think the late comers will be chicken to get in now, even , if they want to…..Late comers, never buy,until the top,,,,and $1900 was a fair price for all the fiat, matter of fact, it should have been $2350……I am staying with the idea that the FED, AND LONDON are going to keep this QE going and Japan is now joined the act……and they can not let this gold take over ……… STAY THE COURSE…..
The people who are buying the lie that this is the fed suppressing gold and how in a short while their will be no more gold are just deluded, and holding on to false hope. It is just a market that is now turning. That’s what happens to bull markets, they eventually become near markets.
With silver down to $25.85 right now and Gold down to $1450, all the ‘experts’ seem at a loss for words.
AL, this PM market looks lost. If it is manipulated, then they can clearly do whatever they want. NOt a good way for the little guy to protect his wealth, let alone grow it.
I really ticked off with how this economy and political class behave. Productive people get to — well, be productive, and have their resources taken from them.
Those who don;t work and sacrifice get subsidized in the name of ‘equality’.
ITs ugly. Our society is in one word: UGLY.
cecil, they won’t stop until they have ALL your money.
Bobby…correct , the Rothchilds make no bones about the fact they want it all.
“The demise of gold is still at an early stage,” Georgette Boele, a commodities strategist at ABN Amro Group NV, wrote in a note today. “Other assets will become increasingly more attractive as the growth outlook improves.”
Gold has ceased to be the haven for investors after it fell when the euro was close to collapse last year, billionaire investor George Soros said in an interview with the South China Morning Post published April 8. Soros cut his stake in the SPDR gold fund by 55 percent in the fourth quarter, a filing showed.
“The investment community has barely begun to liquidate their holdings,” of gold-related assets, said Stewart Richardson, who helps oversee $100 million as partner and chief investment officer at RMG Wealth Management LLP in London.
JAMES…..what are these more attractive assets……..real estate,bonds,stocks,,commodities ,cds,passport saving accounts….diamonds,antiques,art,?……..MANAGEMENT GROUPS ie,ABN AMRO, RMG wEALTH….DO NOT GET COMMISSIONS ON GOLD….they make their money selling paper items…..stock,bonds,annuities,…..
As far as SOROS….he is part of the insiders ,,,that trade on info,from his buddies that manipulate the markets……he might have sold his SPDR, BUT,I bet he is holding physical bullion…..
btw……JUST noticed the amount of money under management for Stewart Richardson,at RMG Wealth…..$100 mill…..that can not be more that 70 peoples money…this is not much money to manage…..just thought I would mention that,I think I would like someone advice with more exertise at this stage of the game….not trying to be smart..but, these detail are very important at this stage of the mkt…..lol…ootb
http://www.youtube.com/watch?v=d-diB65scQU Don’t worry be happy, it’s a buying opportunity, the debt is calling the shots. DT
If an ideology is sincere and the leader is not a tyrant or villain and no one gets physically hurt, then we are degrading the office by not honoring all who have served in it. Senate Democrats have made a mistake. It all comes down to respect for our institutions. Many did not agree with Margaret Thatcher. But she was a world leader and served with dignity.
But the argument goes the other way also. When Newt Gingrich would not take a call from President Clinton because we was on the other line and U.S. House Representative Wilson yelled out “You lie!” to President Obama, both were degrading the foundation of democracy that make us the great nation we are.
And if anyone out there disagrees with what I just said or justifies any of these three disparaging acts, then you better take a good hard look at the sincerity of your own patriotism.
We are all passionate about our politics and economic views. But when it gets to a point where a person or political party is always judged negatively
Mr. Davis,
Just how degrading is it to an institution when the President gives a speech and knowingly lies multiple times? When it gets to an extreme, what would be an appropriate response?
(I also recall that Representative Wilson shouted out When Obama said that the Affordable Healthcare Act would not provide healthcare for Illegal immigrants, and yet the Act specifically states that Illegals must be allowed to buy insurance through the exchanges just like legal immigrants and citizens may.
I tend to agree, Jed. But when presidents use terminology like “We’re going to keep the boot on the neck”, or are giving Nobel prizes 1 month into their first political term at anything, there are mitigating reasons why it’s hard to respect those institutions. I’m not sure who should have to keep making the first move back to honour….the populace, or the politicians.
I should have said “givEN Nobel prizes”…I’m aware the POTUS doesn’t give out the prize. He just receives it.
Interesting point,John W
Big Al
then we will reduced to booze and bullets.
Gold: If anyone out there thinks this is the end of Gold, you truly do not understand the precious metal. What an increasingly good buying opportunity this is. Whew!
And this opportunity is magnified with the Gold stocks.
PS Remember when Apple Computer was a 6 in 2002?
Show me in the Constitution the clause to honor foreign leaders.
You missed the point.
That is actually the point.
Sorry, I see we are on different pages here and there is no point in us arguing the issue.
I feel very sure of what I said and it seems ditto for you. Best Wishes.
We are a Constitutional Republic. If is not in the Constiution the Senate should not be spending time on it. It is just a stunt.
Tell me where I am wrong. It seems pretty cut and dry.
it is truly scary ….. A new suggestion from Germany….These banksters are determined to leave nothing left that they can get their dirty hands on!
http://www.telegraph.co.uk/finance/financialcrisis/9993790/Wealth-tax-to-pay-for-EU-bail-outs.html
Anything that is liquid is moved offshore – Cayman Islands, Bahamas. That is what happened in France when Hollande got elected. Money never sleeps, it just moves. I personally believe this type of thing will eventually make Gold soar. Gold is welcome anywhere as is Diamonds.
Woke up to find gold down $70. Now $82. China slowing down. Citi says commodity super cycle is dead. Rogers not buying yet. Goldman says s&p to go up 20 percent next 3 years. Stock boys win again. I will hold my gold, maybe it will come back in my lifetime, then get knocked down again. Years worth of profits evaporated in 2 days. The first bull market from $272 to $1900 over. Bear market now for a few years, back to $500, then maybe back up a decade later. Lets all get back to each other than and have a reunion….
Didn’t china (or was it india) a few years back announce they were buying gold at $1500 an ounce. That was supposed to be the floor. After that the gold market took off. Central bankers are still buying and taking a loss? What of they start dumping?
Jerry the short – what are these other attractive assets? I have no idea. Maybe just stocks as they go to infinity on QE. It was just last week gold looked like a bottom was in ad now there is no bottom.
James…good morning …..thanks for the reply…..I guess for me,,,if ,I do not see a better investment or a reason to change….I stay put,,,,all the reasons for being in gold are still in place….ie…money printing……fiat currencey….
$1900 was not the top….in order to leave this investment,,,we needed a bubble,,,,a bubble is when everyone participates,,,that includes the sheeple,,,,we did not see that, we did not have full participation…..This is just a cyclical bear,,,in a bull market…..
besides ….you may have answered your own question…..WHERE ARE YOU GOING TO FIND THE NEXT INVESTMENT…..there are only FOUR types that the general public knows……real estate, stocks, bonds and commodities….anything different requires expertise,,,which the general public does not have….antiques,art,diamonds,rare coins,etc…..So,,,I do not see anything that would appeal to the general public ,,,that is not about to be in a bubble,,,,,bonds,,,stocks,,,and now they are trying to inflat real estate.(which requires a job)……JUST MY OUT OF THE BOX THINKING….lol ootb.
Wasnt it just last weekend on the kereport all the experts were paraded on talking about the dramatic imminent change coming in the resource sector? I guess they got it right only in the opposite direction
Like big Al always says, this is for entertainment purposes only, not investment advice. This is an advertiser supported site.
Now we are to believe QE is bad for gold. Just goes to show you everybody’s got an opinion and that’s all it is
Gold facing multi-year bear market
Viktor Nossek of Boost ETPs says that far from raising the price of gold, QE will drag it down by removing the uncertainty from markets that causes investors to seek out a safe haven.
Lets see what the u.s. does now when they wake up and see gold at $1400
Margin calls will drive it down further, the snowball effect. We could see gold $1000 within days, I sure hope not, but it is very possible. The technicals are shattered, and fundamentals supressed.
We need a “Gold is Dead” on the front page of a major financial publication, that will be the buy signal.
If gold hits $1000 do you think Grandich will apologize to Nadler?
Ego, way to large, will he pay nadler $2,000,000. ? It is time to hold some of the pundits accountable for there opinions. Lets face it, check out what they were saying 2 years ago at the top….the archives are here, easy to read.
Haha!
maybe even wash his feet!
Imagine buying silver at $10 and not selling it at $50. How would you sleep at night?
Steve, for me it is easy knowing that my family has real wealth, not fiat dollars. When the physical market comes back.(after the banks have ALL the gold and silver) my grandchildren will be be happy to have these metals.
ditto….bobby……we should be talking about a bubble…..where and when was the bubble….? all markets change when a bubble accures…..we did not have a bubble in gold….ootb
spell check….accures….occur…sorry…..
Lets face the facts, the banks recruit the finest from the best Keynesian schools. They work for the elite, and they WILL NOT LOSE. Look at what they are doing, they will not stop until all the wealth is in their hands. Hold on to whatever real wealth you can and pray that the bomb does not hit nearby. WAR is near, be prepared.
If we see gold $1000 I’ll be taking Mr Gold’s advice; sell the car – buy gold.
and I’m not talking about the second car either.
Very good thought, Irwin!
You know, Irwin, here’s a secret trick to get even more ounces out:
Buy the most expensive car you can find!
😉
WELL,,,I just looked at the screen and gold was down 1386 low…..the boyz in early NY as I said last nite have been very busy…the third blow came …..and now they can site back and make everyone squirm……THE SKY IS FALLING….THE SKY IS FALLING…
RUN FOR COVER……I say do your homework…..the sky is not falling,,,and the bubble has not been popped….this is just movement of the illuminati trying go get your gold on the cheap……and they will get your gold on the cheap if you sell….GET BACK TO THE BASICS of why you bought gold and silver to begin with……THOSE facts have not changed…..and they continue to get worse…..OOTB…
Jerry, yup, just a normal correction, not fun, but not unusual,I have seen at least 4 of these in the last 40 some years. I do not expect a rapid rise, this will take time…months, maybe years. in 2016 we can look back and say, “Why didn’t I cash in my fiat like the Chinese are?”
Bobby……It is funny,,,or maybe not…..that once you have exerienced some set backs,,,others do not seem as bad…..and I agree with you ,,it will take some time to move forward,
but,,,,I see it moving forward…..This is when the old saying comes to mind ,,,that we were saying back a few years ago…..KEEP SOME POWDER DRY…..this is the reason you KEEP SOME money for these opportunities…..HAVE A GREAT DAY……ootb jerry
I like what I see because I haven’t bought any gold for two years (silver and platinum yes) and have been waiting although I never expected to see this I can hardly wait for the signal that say’s it all, A SCREAMING BUY!!!!!!!!!! DT
long term it is a buy……..I am with you……this is 2008 again….as far as I am concerned…….might not be the exact bottom…..but, will watch and see…..best to ya…ootb
TYPICAL FEAR AND GREED……we have fear and we have panic selling…..what is new about that?
Blood in the street… ….. opportunity…..OR.. DO not catch a falling knife… THAT IS THE QUESTION……best to everyone on this day in history……….ootb….
Jerry the US debt is only getting worse that’s an absolute, it’s already “Way Too Big To Repair,” don’t forget those junk bond derivatives piling up 40,600 miles high of $1000 bills stacked one on top of another, why would any one panic except for The Banksters, you should be happy my friend I know I am. DT
good point…DT….
I remember posting here 18 months ago that exploration mining stocks are like dotbomb stocks because they have no earnings and their future rests on hope of a commodity going up similar to the hope that dotbombs relied on.
Al and others mocked me…with the TSXV back below 1000 I GET THE LAST LAUGH!!!!
Dont you wish you had been long the CONVENTIONAL MARKET the last 18 months increasing your wealth like I have?
Pull up the archive Mike, I would like to see it.
Mike, be careful you should start taking profits, markets are very cruel for those that have and then sit on their hands believing they are right. DT
From daily pfening today Chuck Butler:
Well, the selling doesn’t look to be over just yet, Gold is down another $80 this morning, and fell below $1,400 at one point overnight. Well. I just have this to say, which might get nixed. the manipulators really went “all-in” this time with their attempt to scare moms and pops out of Gold and back into stocks / dollars. They’ve scared the daylights out of just about everybody, that isn’t a true believer of Gold this time. But they’ve really got the ball rolling for them right now, I see them pushing the Commodities lower and lower until somebody says “uncle”.
I find this all to be wrong. very wrong. Telling the people that the U.S. economy has turned the corner, and is on a strong rebound, so there’s no need to own hedges like Commodities and Currencies. That’s like telling kids to go ahead and ride their bikes in the street without checking for cars first. Take away the Gov’t activity from your 2% GDP and you’ve got nothing. or as Edwin Starr used to sing. Nothing, absolutely nothing, say it again!
Some of the selling of Commodities overnight can be attributed to the weaker GDP report that printed in China. China’s first quarter GDP printed at 7.7%… That’s 7.7% growth, folks, that’s not a misprint! Unfortunately, 7.7% was weaker than the 4th QTR print of 7.9%… and the Chicken Littles came out in force! The sky is falling, the sky is falling! And the markets listened. I find this to be totally out of line, and unwarranted, but. the markets are never wrong, eh?
So, not only are the hard Commodities getting sold like funnel cakes at a State Fair, so too are the Commodity Currencies. The Aussie dollar (A$) is down over $1 this morning. I always highlight the A$ because as I’ve long pointed out, I call the A$ the proxy for global growth. And if global growth is going to take a hit because China’s GPD weakened, then the weakness is going to show up in the A$ first, and foremost.
And to add to all this madness going on in the Commodities and Currencies, guess which currency, besides the dollar, is rebounding? Yes. it’s the Japanese yen! After touching 100 briefly late last week, the yen is back to a 97 handle this morning. Now that’s not going to make the Bank of Japan (BOJ) and the Japanese Gov’t very happy to see yen rallying like that! But not to worry. I would think that this rally will be short-lived for yen, but then when the markets are being manipulated, who knows? Only the shadow knows.
And then on the other hand. maybe the Japanese leaders won’t be so uptight about the gains in yen, as we head into a G-20 meeting this week. The last thing the Japanese leaders wanted to hear from the other 19-members is that they were not going to sit by idly and allow Japan to drive their currency weaker. So, now, if someone brings up yen weakness, Japanese leaders can point to the currency and say, “hey, look, it’s rallying!”
BUTLER….has some of my same thoughts….I need to read this guy…..you know great minds…think alike…….he,he,,,,,…lol….ootb….(I know ,I know….pride cometh before the fall)….but , I cound not resist………thanks you bobby….
Thanks Bobby, very informative.
Andrew, here is the link to Chuck’s blog, highly recommended.
nice call by Larry Edelson, and we mocked him, shame on us!
Todays update:(written last week)
Now, gold is dangerously close to giving a MAJOR sell signal. Once it closes below the $1,527 level — you can kiss gold goodbye. It will plunge to $1,380 an ounce — and possibly lower.
Ditto for silver. Once it closes below $26.40 — kiss it goodbye too. It will fall to at least $20.47 — and probably lower.
Why do I keep harping on gold and silver in this column? Because I know there are scores and scores of investors who are getting bad advice that will result in terrible losses.
Look, gold IS the ultimate store of value. That is true. And someday, gold will head north of $5,000 an ounce.
One must certainly question holding gold and silver any longer but, you may end up selling near the bottom. Seems to me that the time to sell was last summer. Only reasonable thing to do now is hold and stomach the pain. Pretty hard to do.
agreed, we missed the sell call 2 years ago as well.
WE CLIMB A WALL OF WORRY….only to find the top has been vacated….uncle wally 1933
“What do the D’s have against one of the greatest women of all time?”
Al, that type of statement is shameful!
My mother is the greatest woman of all time, and you should know that!!
Personally I could care less what the D’s and R’s are doing…………together they have ruined a nation.
The charts told the story.
Question for the P.M. CEO’s. Was that a big enough kick in the nuts by the manipulators to get you off your asses to expose them or will you need another one.
Hot money rushes in, hot money rushes out.
It’s a great comment, Sandy. There are some good companies being thrown under the bus, but the vast majority are now going to reap what they helped sow.
“One minute you’re up half a million, the next, boom. Your kids don’t go to college and you’ve lost your Bentley.” — Dan (Winthorpe) Akroyd
More details on Friday’s take-down:
http://www.zerohedge.com/news/2013-04-15/gold-crush-started-400-ton-friday-forced-sale-comex
Hot money rushes in, hot money rushes out. Don’t be the last one out the door. Big traders don’t trade on fundamentals. The charts broke down (the charts I have been posting here) …stair steps leads to waterfall.
A good lesson for the pumpers, har! nice call.
Peter Schiff adds his comments:
http://blog.europacmetals.com/2013/04/peter-schiff-explains-the-gold-correction-video/
He always makes a good case for pms.
Oh course, he makes a commission.
yes, he does buy and sell bullion products, buy or sell he makes the commissions. However, although long winded, i have always found Schiff’s commentary to be very accurate. He had the lone housing call in 2005 when he sold his own personal multimillion, Newport Beach home, I personally told him he was crazy. Yes, he missed the top, but he was just a bit early. Meanwhile the NAR, CAR, Local real estate economists, had no clue as to what was going on.
RIP Margaret Thatcher. She was an iconic lady and Britain’s first and only female prime minister. She was also called ‘The Iron Lady’ http://bit.ly/XnGFbK. Salute to the difference she made in the Great Britain’s relationship with the United States.
A couple of my thoughts about Margaret Thatcher and a few of her insightful quotes thereabouts:
It seems Margaret Thatcher had a bit of a Clarence Thomas support problem. Many of those that would otherwise embrace him or her on a superficial physical level end up rejecting them because of a superficial understanding of their political philosophy.
Clarence Thomas in spite of his undeniable accomplishments receives little support from the collectivist liberal black community.
Margaret Thatcher although achieving everything as far as a glass ceiling breaking cliché measure could never be embraced by the collectivist liberal feminist community.
What I find compelling from both individuals is the way they persevered in the face of superficial opposition. Ridicule is the #1 weapon of the collectivist. Marx taught to not battle a superior idea on the merits but instead attack the person delivering the idea. Apparently in an effort to combat her legacy Margaret Thatcher will continue to be ridiculed in death. There could be no higher complement to her than to be so challenged because it allows a response.
“I always cheer up immensely if an attack is particularly wounding because I think, well, if they attack one personally, it means they have not a single political argument left.”
In the end Margaret Thatcher was certainly not the dead wicked witch because the wicked witch’s misguided evil ideas died with her. Although evil did not die with the witch the witch herself only participated in evil and did nothing to add or detract from it. A better comparison is in the end Margaret Thatcher is better compared to Dorothy as her battles with evil will endure.
“If you just set out to be liked, you would be prepared to compromise on anything at any time, and you would achieve nothing.”
A quote from Margaret Thatcher in a 1993 NPR interview:
“I would hate a person to ask me a question, Are you a quota woman or are you a merit woman? Well, I would like that (the assessment of) whatever I did to be that I got there because I was the right person for the job. It didn’t matter as a man or a woman. I had the right qualities for the job, the right beliefs, the right principles. I wasn’t a quota.” (I found the above pull quote in a recent Clarence Page article in the poughkeepsiejournal)
“Disciplining yourself to do what you know is right and important, although difficult, is the highroad to pride, self-esteem, and personal satisfaction.”