More tax cuts and more voodoo economics, a replay of the Mugabe/Zimbabwe approach to manufacturing paper and the dropping of tax revenue produce at best a double dip depression and more fiscal spending. It is simply more of the same. Doing the same produces the same, nothing else. Any other opinion is madness while grabbing at political solutions to real problems.
The fix was engineered by the Comex guys as they handed you your daily screwing yet again today at 7:02am in the NYC morning. Apparently the Comex guys got up a tad late today – perhaps still suffering from weekend hangovers.
Minus $23 in gold and a three cent change in the euro are simply more signs of the madness that is virulent in the mind of markets. As the fat shark eats the fat shark we end up with very few fat hedge fund sharks running markets. Nobody can do business when major trading currencies change 2.7% in five minutes. No major business on earth is smart enough to be able to maintain profit margins as the payment currencies change with such levels of violence.
Ignore the madness. Ignore the manipulators. Focus on the real. More of the same by a different personality will not produce different results. The dollar is dead. That is reality.
Let the paper tigers of the Comex pound the paper while you take delivery out of the warehouse and the big physical buyers just keep cleaning up and weak hand selling. I went to the Krugerrand and RSA gold factory between Johannesburg and Pretoria. All I heard was this great sucking noise as demand across the globe continued to take whatever the mints were able or willing to produce.
It is a total joke to assume that printing more paper money and spending what you do not have will strengthen that currency and set all that is askew right.
It simply will not, cannot, never has done and never will do anything but deepen the problem.
Let the nit-wits play in their in their boxes made on sand foundations. Let the media howl as they add only to their Tower of Babble.
Join me in this grand battle to end white collar crime and the white collar criminals. Take delivery of Comex gold, move it out of the Comex warehouse, sell it in the open market with a profit or even break even and do it all again and again and again. 1000 of us doing that by buying breaks like today will slice the Comex warehouse inventory in half in six months, maybe a lot sooner. War requires warriors.
Please join myself, Harry, Bill M , Jim P, Semper Fi # 321 and all the good guys, regardless of disagreements that come from time to time, in this great battle to protect our people.
Stop the rape! Stop the manipulations. Stop the takers, the users and the destroyers in gold. Stop paper money by getting the paper guys off gold. Stop those who believe they have dominion over you. I have had it, haven’t you? Where is your rage? You can borrow some of mine as I have plenty to spare. Let today be the day they screwed with the wrong people.
Your weapon is simple: 100 ounces out of the Comex warehouse bought when the paper guys beat it all to crap. Hold it and sell into the next rally in the cash market away from the Comex. Do it over and over again.
Take a stand please. It can get lonely out here from time to time.
The following is total nonsense and insanity according to Einstein’s description. The absolute best it can deliver is the bear market rally after the 1929 break, leading to the double dip depression and then on to the secondary (and more serious) market and phycological break of the awful 32 bottom.
All this strategy will do is spark the greatest inflation in the dollar’s history. Right now in reality, it is not worth a Continental.
You either fix the entire system, or there is no fix at all. This is why Obama’s team will never call me.
This is what a Canadian, Dr. Reuven Brenner, could do for them.
Dollar Rises Against Euro, Yen on Obama Plan for U.S. Stimulus
By Anchalee Worrachate and Stanley White
Jan. 5 (Bloomberg) — The dollar rose against the euro and the yen on speculation President-elect Barack Obama’s fiscal stimulus will help the U.S. economy recover from the recession.
The dollar climbed to the highest level in almost three weeks against the European currency and gained against 15 out of the 16 most actively traded counterparts monitored by Bloomberg. Obama crafted a package of infrastructure spending and tax cuts to create three million jobs. The euro fell after European Central Bank Vice President Lucas Papademos said further interest-rate cuts may be needed should inflation keep slowing.
“Obama’s stimulus package came in at a higher end of expectations, and is skewed more towards tax cuts than has been expected,” said Adam Cole, London-based head of global currency strategy at Royal Bank of Canada Ltd., the nation’s largest lender. “That’s positive for dollar sentiment. Moves might be exaggerated a bit because trading volumes in the market are still quite thin.”
The dollar strengthened to $1.3644 per euro at 7:02 a.m. in New York, from $1.3921 on Jan. 2. One dollar bought 93.32 yen, from 91.83 yen. The U.S. currency will strengthen to 98 yen by the end of June, according to Cole. It traded at $1.4515 to the British pound, from $1.4548.
Obama Said to Push for Tax Cuts in Stimulus Plan (Update1)
By Brian Faler and Ryan J. Donmoyer
Jan. 5 (Bloomberg) — President-elect Barack Obama’s economic stimulus package will include hundreds of billions of dollars worth of tax breaks for individuals and businesses, according to a transition official and Democratic aides.
Obama is asking that tax cuts make up 40 percent of a stimulus package, the people say. The measure may be worth as much as $775 billion, a Democratic aide says, meaning tax cuts may constitute more than $300 billion of the legislation.
The dollar today rose to the highest level in almost three weeks against the euro and also surged against the yen on speculation that the Obama plan would help the U.S. economy recover from recession.
Making tax cuts such a large part of the stimulus may help win support from congressional Republicans. Senate Minority Leader Mitch McConnell, a Kentucky Republican, said his party would support an immediate middle-class tax cut as part of any stimulus package.
“Republicans, by and large, think tax relief is a great way to get money to people immediately,” McConnell said yesterday on ABC’s “This Week.”