Posts Tagged ‘ GOLD ’

05.20.12 AEP: Rising US recession risk poses the real threat to Europe

by John Galt May 20, 2012 23:59 ET But, butt, butt, butttttt, butttttttt, I was told on the teevee that Mr. Obama had saved the day according to the Vice-President, Mrs. Biden. Oopsies, again! Tonight’s editorial/commentary from Ambrose Evans-Pritchard sums up the ultimate definition of “critical mass” if and when the American economy collapses in this article: Again; do what? I thought Obamanomics cured cancer, AIDS, divorce, unwanted pregnancy, herpes, and common toe nail fungus. Apparently, according to the...

by John Galt May 20, 2012 22:00 ET No comment is necessary. This excerpt from the latest editorial from the Mogambo Guru should provide a clue for those who are ignoring reality: Of course, Ben Bernanke, chairman of the Federal Reserve, so famously said that inflation is only a problem for people who buy things or put the money under their mattress to save it instead of putting the money into investments that will, hopefully, grow as fast as inflation, to...

by John Galt May 15, 2012 05:30 ET After several days of just horrid technical destruction and weak trading action, look for equities to start their Facebook dead cat bounce phase. Today, if it plays out as most bear market moves do, should see a rise in prices in the morning, fade after lunch, and then it is a coin toss if the markets finish flat or lower. If there is major selling into the morning rally then that is a very ominous...

by John Galt May 10, 2012 18:45 ET As the market appeared to find a footing today, J.P. Morgan Chase (Symbol: JPM) yanked the rug out from the bulls and Bubblevisionistas with an incredible 10Q release and conference call which imploded the market after hours (See Bloomberg News: JPMorgan Reports $2 Billion Loss on Synthetic Positions). the truth though is that before this announcement, enough gasoline was already on the fire to indicate that there is a nasty bear phase approaching which will...

by John Galt May 9, 2012 19:00 ET If one is led to believe the usual nonsense on the Bubblevisions, gold, silver, and anything that is considered “real money” will be smoked in the weeks to come. For once, this esteemed, or full of steamed clams, blogger agrees. The markets are indicating the following for long term paper silver bulls (I emphasize PAPER SILVER BULLS) 1. Severe correction. 2. Deliberate price suppression for industrial purposes. 3. A move...

by John Galt May 6, 2012 12:25 ET There are many people willing to deny basic economic reality or the news that the manipulated government data points from around the world are sending, however gold and the gold ETF (GLD) continues to flash a warning clarion that can not be missed by any observer. Unfortunately for the naysayers, gold is still the final resting place for value and is indeed viewed as the alternative world currency by major economic powers such as China...

By John Galt April 17, 2012 – 19:00 ET And just as the British, Roman, and Arab Empires declined and fell in history, the Empire of America is changing into an empire of decline. Tune in at 8 p.m. ET for the latest HARDCORE NEWS, financial reports, and a scathing look at a new FEMA report on how to encourage civilian participation which would make the Stasi oh so proud. Remember the Sermon and Muster call! Just click on the banner below to find...

by John Galt April 8, 2012 20:50 ET And here we all were expecting gold to become a worthless relic and tanking to $100 per ounce if we believed every talking head in the regime, the Fed, and various Bubblevisions. Ambrose Evans-Pritchard unloads a power salvo in tonight’s commentary in the U.K. Telegraph: Gold crash on Fed tightening and euro salvation looks premature (Click on the title above to read the column in full) Just when everyone assumed the Fed had a clue in...

by John Galt April 4, 2012 23:00 ET The United States Equity Markets declined today. Now that Mr. Obvious has spoken… Gang, I’ll be the first to admit that technical analysis of THESE markets is an insane, stupid, waste of time. When the Federal Reserve is buying, logic, fundamentals, and technical analysis goes out the window. With that being established, Mr. Bernanke said the following in the FOMC minutes released this week: Now that the fun and games are over with, let’s address...

by John Galt March 30, 2012 05:00 ET The world is on fire, the banking system in total confusion and preparing for another great consolidation, Europe is teetering, and what does the Federal Reserve Chairman, aka “America’s Financial Academic,” decide to speak on during some collegiate lecture series? The Federal Reserve and the Financial Crisis (click on the title to read the story in full) Any of my readers can click on the link above to watch the series or read the program...

by John Galt March 18, 2012 23:00 ET The stories about Montana, Utah, and Virginia striking their own gold “commemorative” coinage sent a shudder throughout the U.S. fiatocracy as they were indicating a lack of faith in the old fiat currency, the U.S. Dollar. For a city in Germany to indicate a lack of faith in the Euro and the ineptitude of the Masters of the Universe in Berlin and Brussels however is an entirely different matter! From Der Spiegel on March 16, 2012:...

by John Galt March 2, 2012 05:30 ET The world is on fire and guess what? Gold is under $2000 per ounce. Thus the banksters, powers that be, political elites, and so-called capitalists have been able to suppress the one real store of value to the point where ‘they’ can do guess what? Hoard. Steal. Tax. And Acquire. The question arises if gold must be kept under its inflation adjusted levels from the 1970 to 1981 explosion and bull run, why? Why not let...

by John Galt January 17, 2012 05:20 ET The ChiComs broke out the heavy weaponry but then again, didn’t yours truly say they could do this? Yes, I did and reports are that China injected $30 billion into their equity and financial markets to insure that the selling would be stemmed regardless of the economic figures manufactured by the government. The one consistent result when governments monetize debt like the EU and Federal Reserve and interfere in the natural direction markets wish to go...

by John Galt January 9, 2012 05:15 ET Today is going to be a snoozer. With volumes anemic and the start of earnings season which is a total crap shoot this time around, do not look for any dramatic moves in any U.S. markets today barring some shocking geopolitical event. The head of the ECB is not named “Tebow” and the 1,321 summit between Sarkozy and Merkel is beginning to resemble a marriage counseling meeting rather than a serious attempt to resolve the...

by John Galt January 5, 2012 05:30 ET The implosion of the Euro is well under way and this will trigger a massive sell-off in the U.S. equity markets if the central banksters don’t break out their inner piggy and bail it out immediately. The technical condition is now shattered in the EUR/JPY swap with new decade plus lows being made daily and this morning being no exception: (from ForexPros.com – live 5 minute chart updates automatically) 96 is now in play in that...

by John Galt January 4, 2012 05:20 ET Buckle your seat belt, make sure you keep your arms inside the car at all times, and please secure all loose objects. All of the sudden yesterday’s “rally” isn’t looking so hot as the news broke this morning that usage of the ECB’s deposit facility hit an all time high yesterday of €453.18 billion and the volume in the U.S. markets was disappointing to the bulls and technicians. The Asian markets did not follow through with...

JohnGaltFLA Predictions for 2012 By John Galt January 1, 2012 – 17:00 ET I. Geopolitical Predictions 1. The United States constructs a new large military base in Columbia near the Venezuelan border in anticipation of the collapse of the Chavez regime. The new focus on South America is seen as a desire to refocus American foreign policy as the Middle East rejects any further interference from the United States. Columbia welcomes the action as it intertwines the U.S. into their internal conflicts...

By John Galt December 30, 2011 07:50 ET Buckle up. 2012 is almost here. Last year I was so-so in my predictions and for 2012 I probably will be also. If you are meek put on your Depends for this show or just assume the fetal position when the theme music stops. In the first half hour I’ll cover the news of the day, the financial news and then begin the prognostications which cover geopolitics, sports, U.S. politics, the economy, weather, and whatever else...

By John Galt December 30, 2011 – 07:43 ET While many a commentator and bubblevisionista will argue that 2011 was a “safe” year with the Dow up about 6% for the year and the S&P 500 treading water but up slightly, the decline in the NASDAQ is the lesson of the year and a warning sign for stocks in early 2012. Traditionally during an election year markets rally as the election gets closer and I expect 2012 to be no exception. While timing is...

By John Galt December 29, 2011 – 05:25 ET There is nothing Santa can do now but go home to the North Pole and melt the ice with the good Mrs. now, as the markets are totally focused on the reality of the PIIGS problems once again. The Euro is hovering and barely holding the 1.29 level as I type this, gold is moving south once again preparing to make new lows, and the yields on the 10 year Italian bond is well above...

By John Galt December 28, 2011 – 12:45 ET The mid-day action in gold is a nasty reminder that when deflation warnings are ignored, the ignorant shall be punished: With gold down almost 2% at 12:30 ET in thin trading most bubbleheads are on the financial networks pointing out the fact that gold is a horrible investment because it just sits there or that there is no reason to buy gold. In reality, once gold breaks the danger zone support levels in the chart...

By John Galt December 27, 2011 – 07:30 ET Now that the holidays are over with, the returns complete, it is time to prepare for a harsh reality once again. First, the continued crisis in Italy continues with the 10 year yield crossing 7% again this morning, despite massive intervention by the ECB and member banks. (chart via Bloomberg.com) Secondly, the EUR/JPY swap is signaling another leg down in the Euro currency is imminent, probably at the end of this week or the next...

By John Galt December 22 2011 – 04:59 ET This is the time of year where the idiots will tell the viewers of the various bubblevisions that the Santa Claus rally is a sign of underlying economic strength and that this portends a bullish 2012. They will claim it means a major economic turn around is coming and blah, blah, blah. Really? Did anyone tell Asia last night where Shanghai had its 4th negative close in a row and is in danger of crashing...

By John Galt December 21, 2011 – 07:10 ET The S&P 500 cash made it above the magic 50 DMA without surprise or little effort yesterday on the back of a proverbial “Santa Claus Rally” as predicted in these pages early in the morning of December 20: With the markets hovering near 1240, the potential to test the 1248-1254 area remains but odds are it will fail intraday as the news out of Europe is digested and the ECB bank loan program is recognized...

By John Galt December 20, 2011 – 05:20 ET Yesterday’s market action on thin volume was in a word, brutal. All of the indicators that Santa Claus was going to save the day failed. Gold rallied above $1600, then fell. Oil barely moved. Financial stocks scream of a disaster building cause in the markets. And despite the horrid yields, people are piling cash into the U.S. bond market, even accepting real and net negative yields to insure the return of capital. The S&P 500′s...

By John Galt December 19, 2011 – 08:20 ET A tad late this morning with the update but then again, I was up into the wee hours to see if the Dear Leader’s son was going to engage in a random act of kindness or stupidity. Fortunately it has been quiet beyond the traditional launching of a short range missile to scare the South Koreans and keep our boys in the peninsula on alert. The markets went no where fast last week besides dropping...

By John Galt December 16, 2011 – 05:30 ET A short note on this morning since it is quad witching and who knows where this market will end up today…. 1. 1220 is overhead resistance on the S&P 500 so look for the PPT to be quite active to kick start the Santa Claus rally. 2. Gold had best find a way to get back over $1600 or for the short term the break down will continue towards the $1533-$1540 level. 3. A dead...

By John Galt December 15, 2011 – 05:20 ET The collapse in commodity prices yesterday along with warning signs from credit markets around the world should provide the only guidepost one needs to know about the Euro circus causing problems worldwide. Since 1220 did not hold on the S&P500 it now becomes overhead resistance to an upside move which should be attempted today. After that folks, there isn’t much to watch but tears as this market will only move with the news. There is...

By John Galt December 14, 2011 – 10:57 ET No sooner than the ink did dry on my 2 out of 3 strike warning, than BOOM. Swing and amiss: (chart from FOREXPROS.com) All bets are now off without MASSIVE INTERVENTION by the central banksters. S&P 1092 could come into play rapidly unless the Forex markets are checked.

By John Galt December 14, 2011 – 10:30 ET I would call this a major concern for those who think that the European crisis is cured or that the markets can not crash in December. STRIKE 1: Gold violates 200 Day Moving Average (DMA) Next stop $1480 and a warning signal of short term deflation on the horizon. STRIKE 2: S&P 500 Violates key Support at 1220 below 50 DMA Next stop, $1152 if the markets can not recover the 50 DMA today above...

Glacier Bay National Park, UNESCO World Heritage Site, Alaska

By John Galt December 14, 2011 – 07:55 ET All you need to know (chart from INO.com): While everyone is focusing on the imploding EUR/USD trade, the EUR/JPY trade is far more fascinating as not only is it approaching the September-October lows, it appears that that the European Union is having to choose between which foreign currency to counter. With a reported dollar shortage in Europe and some Asian nations, the swap lines are wide open but the Euros can’t win in a multi-front...

By John Galt December 14, 2011 – 07:15 ET The current European implosion is bringing about a probable once in a lifetime opportunity which sadly might just be the last chance this decade to buy physical gold before capital controls worldwide and within the U.S. make it difficult if not impossible. The history of economic strife and plans by world governments to impose massive restrictions on the flow of funds to prevent internal collapse make gold an attractive target for seizure as political failings...

By John Galt December 13, 2011 – 16:45 ET Last week’s show was highlighted with this statement: What we could, and probably will face, is not about revenge, fighting, or submission; it is about survival. Tonight, I start the show by warning about the plans should Ron Paul fail to win the Presidency of the United States and the destruction of our Constitution should he not blunt the efforts of the elites and their globalist allies. During hour number two: Part 3/4 of the...

By John Galt December 12, 2011 – 05:20 ET One chart says it all. Unfortunately for equity traders, that just happens to be a chart of gold which should have soared on Friday to a climatic year end move and run at $1800 then $1900 if the markets believed that the world’s central banksters had cured the European nightmare. With the gold futures down some $26.50 as this is being written, obviously the world is voting on the lack of a Eurozone commitment to...

By John Galt December 9, 2011 – 05:30 ET If yesterday’s decline is any indication, then today’s continuation of voting by the U.S. short term Treasuries should provide anyone with an open mind the true feelings of how large investors and nations feel about about the alleged EU resolution and the ongoing crisis since August: No my fellow readers, your eyes are not deceiving you. Just as during the heights of the 2008-2009 financial crisis, people fled all other investments and drove U.S. yields...

By John Galt December 7, 2011 – 22:07 ET Watch the entire program at GBTV. This is must see television:

By John Galt December 7, 2011 – 21:30 ET The hilarity begins at 3:20 into tonight’s video from Fast Money on CNBC: > Ah, so Dennis doesn’t remember saying this about gold being in a bubble in August? Let’s “check the tape” as they say in the broadcast business….. From CNBC’s Fast Money Halftime report, August 24, 2011, 6:22 into the video: Oops. In fact, did he really say that? Let’s check the website headline from that day: P*wned. To read the original article...

By John Galt December 7 2011 – 05:40 ET Without further ado, here is your rumor selection of the day from Europe: a. Europe will create 7 new bailout programs and print faster than the Fed. b. The new Eurobond will be called the “Transformer Bond” and it will change shape, yield, and form with each corresponding drop in equities (aka the Megatron bond) c. Merkel agrees to marry Sarkozy. d. Sarkozy agrees to marry his dog. e. All of the above In reality...

By John Galt December 6, 2011 – 05:25 ET With the S&P news rattling the markets last night one might expect to wake up this morning to mini-stock market crashes around the globe. Nah. Everything in the U.S. equity markets indicates a flat open while Europe is only down slightly Gold cratered to $1712 overnight but is almost back to where it was around 6 p.m. ET last night and the world seems to be sitting on the razor’s edge waiting for some sort...

By John Galt December 4, 2011 -21:00 ET The latest nation being forced by the fiat funny money central banksters to impugn the use of and punish those who dare to use cash or eventually real money in business transactions is the new group of slaves no residing in the former great empire of Rome. From Reuters: Italy PM prepares to adopt crisis measures Think this can not happen in nations not named Zimbabwe? Read this sentence from the story by Guiseppe Fonte: Other...