John Rubino – Painful Poetic Justice In Response To Mismanagement Of The Petro Dollar
John Rubino, Founder of the Dollar Collapse website, joins us to outline some of the key market trends from nations trying to trade around the Petro-Dollar, shifting concerns from accelerating inflation to accelerating contraction, central bank debt servicing, and changing realities in the energy sector. This is a wide-ranging discussion that gets into changing trading alliances with BRICS nations as it relates to oil, nat gas, gold, nuclear power, solar power, foreign currencies, and the coming demand destruction as the global growth slows moves into 2023.
What time did Disney world report the CPI as I wanted to see the laser show. Darn.
The arrest of Bankman-Fried in Bermuda does a couple of things. It shuts him up as an indictment has been issued and his right to an attorney attaches …. Which means he now will be told to shut up and invoke the 5th. It also means he can take the 5th 500 or more times if called before Congress. It also means he will not be making statements to law enforcement that could incriminate Wall Street and Wall Street Defense Firms/Banks and Regulators. He will not be describing in detail the ties between off shore activities and so called legitimate stateside financial firms and markets.
Bankman-Fried appeared to want to “talk too much” to the public and something had to be done to quickly shut him down. (Just my opinion)
Breaking News on CNBS: Bankman-Fried being “charged” with Fraud by SEC and CFTC. Here is what is significant: This Case seems to have massive “criminal” implications but the SEC and CFTC only have “Civil” authority. The proper mechanism is to gather all evidence acquired by the SEC/CFTC and “forward” it to the Justice Department which has Grand Jury/Criminal authority.
Looks like another attempt to shut the FTX thing down to avoid exposure of multiple “people and Organizations” including some within Government Agencies.
More negative divergence between the silver miners and silver metal so far today, continuing a month long trend of drastic underperformance by the miners. Par for the course.
I agree, so far this is a nothing burger rally. I think most savvy investors know that this is a knee jerk reaction to the inflation print and has no validity until the idiot speaks tomorrow.
I’m not worried about the discrepancy under the circumstances at least not beyond the short term. Big price gaps, the Fed meeting and various end of year stuff can account for a lot as can the continued nervousness from the retail crowd in particular. It will change soon enough.
Like silver stocks in general, IPT vs SLV/Silver is making the kind of low that only happens every several years:
Day /NG…….I got into nat gas a bit late…so, for me the question is will it provide the 3rd gap up before it fails? currently the day chart shows no waves, just a smooth single leg A up…These typically are reactions that can fail spectacularly…So I am not comfortable, except that the technicals are ideal and positive…glta
I am almost even for the day after the daily walk back. Nothing matters to them. They will run the algos until the computer blows up. Classic criminals.
Account is now in the Red. Go figure. I am hoping for a big afternoon in that they are trying to force FOMO action in the General Markets to leave them as bag holders when they short the crap out of them after the first of the year during the great recession.
Remember that big opening gaps always bring selling and it’s probably because this is a Fed week that the selling today is so aggressive today. Still, I’m not so sure the gaps will be completely filled soon.
240 minute /NG chart….leg F up…absolutely no problems……I took profits…actually, the RSI(14) at this F top diverged with the previous highs…we will see if i am able to re-enter…..glta
Brixton Metals Drills 30.50m of 0.35% Cobalt Including 10.02m of 0.92% Co and Including 0.5m of 9.01% Co at its Langis Project, Ontario
Added a few more. maybe 20%.
Get them while they are frozen. My miners holding their opening prices. (Acct up .003 %).
I went to the ceo.ca general site to check on “companies” and Trending, Gainers, Losers. When I got to the losers, there were some good companies listed as worst of day. For those looking for ideas, there are quite a few listed in the loser category.
Gold stymied by its 50wma today, at least so far.
Well the good new is today’s gaps on my mining stocks daily charts are all closed now.
The bad news is today’s reversal suggests lower prices in the immediate future.
I’m still in the “megabull trend” has already begun camp, but I’m open to the possibility of months more of sideways consolidative action. I am already fully long so I have nothing else to do except comment on day to day gyrations.
Brixton’s price action I think is pretty telling for the entire sector IMO. It’s something I was predicting months ago based on other long term bottoming patterns I’ve seen. I’m expecting at least a 10x move higher over the next 1.5-2 years and likely much more than that.
Definitely a low volume day for most of what I follow. Boring really……could be worse. I could be in all cash. 😏
My account going from mostly green stocks to mostly red, while dollar remains down and paper metals up. As I say to my Grand Kids “Good Job”.
On this CDNX chart it shows the sell off that began on Nov. 15th. The money that came out of the market on that sell off will be eligible for tax loss selling parameters starting tomorrow, freeing up the capital raised to snap up bargains from the Fed hike and after-babble.
Not good feelings about the program for tomorrow after the performance of things today.
Gold just now shot up over $20, (8:30 am.) Silver is also up 40 cents! Take a ride on the wild side! DT