Gold Monitoring Thread £ GBP only

[goldking]

Fed just announced a 50bps rate cut.  Gold shooting for the moon again. 

[sixgun]

18 minutes ago, goldking said:

Fed just announced a 50bps rate cut.  Gold shooting for the moon again. 

Fed just announced a 50bps rate cut.  Silver shooting for the moon again. 

[goldking]

Absolute comedy central.  0.5% rate cut and the DJIA is currently 450 points down.  History in the making.  Who's betting on the PPT intervening again like they did on Friday to ensure that gold gets slapped back down 'where it belongs' and DJIA closes in the green?  

Edit: make that 550 points down! 

Edited March 3, 2020 by goldking

[sixgun]

The markets rose on news of the 0.5% rate cut and used it as an opportunity to get out. Best stock market ever.

The Fed says the cut is b/c of coronavirus - you know the cover story for the disintegrating USD-Treasury complex.  Foreigners are still dumping Treasuries - they are still not buying them - the world is still rejecting the USD - nothing has changed - the bus has been driven over the edge - a crash landing is impossible to avoid. 
Carry on stacking lads - you know it makes sense.

[HawkHybrid]

1 hour ago, sixgun said:

The markets rose on news of the 0.5% rate cut and used it as an opportunity to get out. Best stock market ever.

 

chinese says to apple, your products are delayed due

to coronavirus. we will both have reduced revenue this

year. fed's solution is to allow apple to borrow capital

more cheaply. how exactly does that fix apple's supply

problem? getting out/going short on the spike was the

strategic right thing to do. a reversal of a 90 point move,

the market could go under friday's low.

if you choose to not fix the problem, then expect the

problem to continue.

 

HH

Edited March 3, 2020 by HawkHybrid

[5huggy]

1 hour ago, goldking said:

Absolute comedy central.  0.5% rate cut and the DJIA is currently 450 points down.  History in the making.  Who's betting on the PPT intervening again like they did on Friday to ensure that gold gets slapped back down 'where it belongs' and DJIA closes in the green?  

Edit: make that 550 points down! 

Agreed - PPT are always ready to "SPLAT" 😉

[sixgun]

13 minutes ago, HawkHybrid said:

chinese says to apple, you products are delayed due to coronavirus. we will both have reduced revenue this year. fed's solution is to allow apple to borrow capital more cheaply. how exactly does that fix apple's supply problem. getting out/going short on the spike was the strategic right thing to do. a reversal of a 90 point move, the market could go under friday's low.

HH

It's sarcasm HH - irony - a joke i posted elsewhere. 

Trump has been boasting about the best stock market ever - he has not been sleeping since it tumbled - he has been screaming for a rate cut - even negative interest rates - for QE to infinity - he wants to be re-elected.

The Fed drops rates by 0.5% - IN BETWEEN meetings - the reason given is the cover story of the coronavirus - the Chinese stock markets are NOT tumbling - the virus is a cover story. The USD-Treasury complex is done for - it isn't circling the drain - it is going down the drain now. 
There are no solutions - the bus has gone over the edge and it is going to crash - nothing the Fed can do now - everything is sticking plaster and will make things worse. 
The supply problems blah blah - that is for Bloomberg and the talking heads. 

Edited March 3, 2020 by sixgun

[goldking]

11 minutes ago, zhoutonged said:

The cheap money junkies need a bigger fix.

CTRL+P not working anymore.

[goldking]

12 minutes ago, sixgun said:

It's sarcasm HH - irony - a joke i posted elsewhere. 

Trump has been boasting about the best stock market ever - he has not been sleeping since it tumbled - he has been screaming for a rate cut - even negative interest rates - for QE to infinity - he wants to be re-elected.

The Fed drops rates by 0.5% - IN BETWEEN meetings - the reason given is the cover story of the coronavirus - the Chinese stock markets are NOT tumbling - the virus is a cover story. The USD-Treasury complex is done for - it isn't circling the drain - it is going down the drain now. 
There are no solutions - the bus has gone over the edge and it is going to crash - nothing the Fed can do now - everything is sticking plaster and will make things worse. 
The supply problems blah blah - that is for Bloomberg and the talking heads. 

US10Y treasury note yield making history as well.  Down to 1.02 earlier which is very very bad!  Anything under 1.3 is generally considered to be recession territory.

[sixgun]

3 minutes ago, goldking said:

US10Y treasury note yield making history as well.  Down to 1.02 earlier which is very very bad!  Anything under 1.3 is generally considered to be recession territory.

Absolutely.
 

[goldmember44]

Do we really want gold to skyrocket? I'm not so sure personally... because it would limit my ability to accumulate a lot more....but I guess if you already have a considerable stack, gold is good to go!

[goldking]

23 minutes ago, sixgun said:

Absolutely.
 

Oof, down to 1.003 !  Is it going to see under 1 before the day is up?  Things are getting really really bad now . https://uk.tradingview.com/symbols/TVC-US10Y/

[goldmember44]

3 minutes ago, goldking said:

Oof, down to 1.003 !  Is it going to see under 1 before the day is up?  Things are getting really really bad now . https://uk.tradingview.com/symbols/TVC-US10Y/

0.999 now and falling...what are the implications?

[goldking]

21 minutes ago, goldmember44 said:

0.999 now and falling...what are the implications?

It's one of the big indicators of a deep recession.  Down to 0.958 now!  Welcome back to 2008.  Button up and fasten your belts, it's going to be turbulent.

Look at the Dow crashing right now https://uk.tradingview.com/symbols/TVC-DJI/.  930 points down on the back of a 0.5% rate cut.  All confidence gone from the markets.  RIP.

Edited March 3, 2020 by goldking

[goldmember44]

1 minute ago, goldking said:

It's one of the big indicators of a deep recession.  Down to 0.958 now!  Welcome back to 2008.  Button up and fasten your belts, it's going to be turbulent.

And this is after Fed intervention...they don't have any tools left.

[FlorinCollector]

For a long while now I believed the next crash would come about and worse than last time. However, never knew how it would come. So many commentators say in different ways. I bet no one could have guessed ushering in a virus to crash the market and then nobody is looking at the reckless job that has been done all over the world by the money printers. If it plays out that way and they can blame the corona virus for the slow down they have played a blinder. On the news tonight it was saying 1/5 in the UK could be off of work due to the corona virus that would certainly put us in a recession. 

[goldking]

1 minute ago, goldmember44 said:

And this is after Fed intervention...they don't have any tools left.

Yep.  It's End Game now imo.  I don't see any way they can recover from this.  Confidence gone from the markets and CTRL P has completely failed.  I wouldn't be surprised to see a bail-in announced in the coming days.  Consider it to be scare-mongering tinfoil hat if you wish, but you should strongly think about getting money out of your accounts.

[Robda1986]

Might sell my gold and buy hand sanitiser at this rate 

[paolo]

7 minutes ago, zhoutonged said:

Does any one else see a temp flight to fiat in all this? Or am I on my own?

I dont think the reset Will be a Linear process but a sudden event. Maybe Gold Will go down to fiat even a lot and then suddenly reset to a new level. To stay in fiat Is too Dangerous i think, and also having It in the bank. 

[paolo]

1 minute ago, paolo said:

I dont think the reset Will be a Linear process but a sudden event. Maybe Gold Will go down to fiat even a lot and then suddenly reset to a new level. To stay in fiat Is too Dangerous i think, and also having It in the bank. 

If i was a central bank i would crash Gold against fiat and then order the confiscatio while It s low in fiat, then reset to a new level...

[goldmember44]

I feel much more comfortable with my wealth stocked in gold, instead of fiat at this time. And bank? No way!

Edited March 3, 2020 by goldmember44

[SilverPirate007]

33 minutes ago, goldking said:

Yep.  It's End Game now imo.  I don't see any way they can recover from this.  Confidence gone from the markets and CTRL P has completely failed.  I wouldn't be surprised to see a bail-in announced in the coming days.  Consider it to be scare-mongering tinfoil hat if you wish, but you should strongly think about getting money out of your accounts.

Haha I highly doubt this is the ‘end game’. I love these conspiracy theories. Corona virus will be over soon and the markets will rebound.

[paolo]

And i think all the govermrnts Will try to push everyone into fiat , crashing all the other asset, and when everyone Is in fiat, booom!

[SilverPirate007]

3 minutes ago, paolo said:

And i think all the govermrnts Will try to push everyone into fiat , crashing all the other asset, and when everyone Is in fiat, booom!

How will they do that then?

[paolo]

3 minutes ago, SilverPirate007 said:

How will they do that then?

Well, if i was in their place i would do the following:

1) Push all the cows into fiat liquidity, crashing gold, silver, all commodities, while the stock market will crash on their own..So with panic and everything going down people will look for refuge into fiat liquidity..

2)Once the majority of the people will be in the fiat trap (imagine if gold is crashed 50% how many will have sold it....) then they can go for a reset directly creating a new digital currency or indirectly by hyperinflation. This of course only after having confiscated the gold (few will complain of confiscation if the gold will be down much ).

Otherwise there is the risk that when a new currency will be done, or during hyperinflation, gold will be revaluated several multiples while people still hold it, and dont think they will allow people to have it in that case!