J. Johnson’s Latest – Who Blinks First, The Resolute Longs, Or The Overwhelmed Shorts?
August 26, 2019
Great and Wonderful Monday Morning Folks,
Remember we spend approximately 1/7th of our lives on Monday, so smile and get used to it! Gold’s early morning trading price is now at $1,540.90, up $3.30 after reaching up to $1,565.00 and after being dumped to $1,534.80 which filled the gap created at the Sunday night open. Silver is leading at the moment with the trade at $17.745 (December) up 19.1 cents with the high at $17.90 with the low at $17.640 and with the gap left to fill. The US Dollar found some strong support after the G7 meeting with the trade now at 97.855, up 32.5 points and close to the high at 97.895 with the low down at 97.37. All of this was done while the Comex was closed, as we slept, and during London and Asia’s trading period.
Venezuela’s Bolivar now has Gold trading at 15,389.74 showing a gain of 350.56 Bolivar with Silver now priced at 177.228 Bolivar putting in another 5.443 of value to the price. Argentina’s Peso now has Gold valued at 85,019.68 Pesos, adding 1,345.78 to the price with Silver adding a whopping 22.775 A-Pesos to its value now gauged at 978.615. The Turkish Lira is now pricing Gold at 8,966.20 showing a big gain here as well as 286.93 T-Lira was added to the price with Silver now gamed at 103.261 adding 4.1228 T-Lira to its value.
One of our Resolute Buyers in Silver has shown up again in the delivery cycle with the Open Interest still at 1 but with a Volume of 3 up on the board so far in the early morning and with a trading range between $17.575 and $17.54 with the last price being the high so far. Those bracketed trade numbers are still being pumped out for some reason, maybe one day we’ll get the real skinny on the numbers and what they mean. I cannot believe these are spread trades that are registered without a price. If it is, it should not be allowed as the spreads are important to spreaders and the price is important to the individual trader and companies that need proper data. Do they keep these spread numbers away from all Volume and Open Interest as well?
Bill Holter’s Commentary
Well done by Charles Hugh Smith.
The Benefits of a Profoundly Shattering Recession
August 25, 2019
Does anyone really think The Everything Bubble can just keep inflating forever?
What do I mean by a profoundly shattering recession? I mean, a systemic, crushing recession that can’t be reversed with central bank magic, a recession that only deepens with time. The last real recession was roughly two generations ago in 1981; younger generations have no experience of a profound recession, and perhaps older folks have forgotten the shock, angst and bitterness.
A profoundly shattering recession leaves tremendous damage and pain in its wake. Millions of people who reckoned their position was secure get laid off, businesses that looked solid melt into air, large corporations flip from hiring thousands to firing thousands, and everyone on the edge of insolvency gets a hard push over the cliff.
Profoundly shattering recessions feed on themselves in a self-reinforcing dynamic: the first domino could be a supply-shock, or a decline in demand due to credit exhaustion. Since businesses have cut everything to the bone in the past decade, there are no buffers left: layoffs begin immediately, and those layoffs further reduce demand as households have to tighten their belts to survive as even those who escape the first round of layoffs find bonuses and overtime have been slashed.