Ovvero: Pararsi un po' il cul* in questo pazzo pazzo mondo di carte filigranate, iperfinanza globalizzata e picco delle risorse

venerdì 4 marzo 2016

Jesse: The Moderns' Bête Noire


Nelle chart di Jesse e' scomparsa la lineetta superiore del triangolo "di assestamento" della tazzulell'e cafe':

The US dollar took a trip downtown today, and silver and gold were on the move higher still. 
Tomorrow we will get the Non-Farm Payrolls report, classified 813 in the Dewey Decimal system, 'Modern American Fiction.' 
The Fed is looking for cover to raise rates, because they need some room beneath their wings so that they can maneuver deftly when the next financial crisis follows their latest financial asset bubble, as night follows day.

Negative interest is the policy choice of brain dead bureaucrats, in much the same way that fiscal austerity in a balance sheet recession sounds appealing if you are at least several steps removed from any serious approximation of reality. That does not mean that the Fed would not follow the ECB and go there under the duress of tarnishing their reputations, such as they are. The problem is that the American people are far too heavily armed to tolerate that sort of blatant confiscation, without quite a bit more preparation.
 
Gold is at a very key juncture. It needs to break out through 1270 and stick a weekly close there, hard, and hang on to it. 
The 'handle' has formed oddly, with hardly the kind of test of the lower bound of the chart formation support that we would like to see under our belts by now. 
A second drop down to the 1200 level that held would have much more conventional. 
But we *might* be in a bit of a special situation now, bullion-wise, with the float of gold having dried up badly in London and New York, as the seemingly inexhaustible buyers of Asia are spending their paper dollaros on hard goods, rather than cheap consumables. They clearly are not following the globalist script. 
Ray Dalio was talking up gold among other things on Bloomberg bubble vision today, prescribing the usual 5 to 10% allocation for it in your portfolio. (...)

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