Goldtent TA Paradise

MARKETS ARE INSANE

1. silverboom says:

   June 16, 2021 - 5:17 pm at 5:17 pm

   A fool’s game indeed…and we are the butt of the joke. We live in bizarro world. Nothing makes sense and nothing works right.

   In 1982 I was doing work with the Royal Canadian Mint to launch their Maple Leaf gold coin in the U.S. We took out a full page ad in the premiere issue of “USA Today” On the front page, they had a box showing the annual cost of living in major U.S. cities. Here’s what it said. Read it, and then think about the fools we have become…..

   Unemployment hit 9.8% – the highest since 1941.

   Sinclair introduced a new computer for $99.95 (a glorified word processor) with a much improved chip that replaced 12 others.

   Detroit Mayor Coleman says American cities are crumbling while Washington yawns (I wish they would just yawn!!); California Governor Jerry Brown says we must live by our wits and work harder (yes, the same Jerry Brown – we have learned little.)

   For the first time since WW II, war prisoners – five Sovet soldiers captured by Afghan resistance fighters – are interned in Switzerland. (Yes, Virginia, we have learned absolutely nothing.)

   Princess Grace dies a day after her auto accident. (History rhymes if not repeats.)

   House Majority Leader Jim Wright (Dem) claims President Reagan is leading us back into a depression. (Just a scant 18 months later the economy began what was the longest growth stretch in history. And yes, we still have learned nothing.

   TV networks are scared to death of cable. (Rightfully so.)

   It costs retirees – for food, shelter, healthcare, transport, and other expenses –
   $12,157 annually to live in Honolulu;
   $11,623 in New York City;
   $11,000 in D.C.;
   $10,921 in San Fran; and
   $9,516 in Atlanta. (Good thing the Fed is maintaining the value of the dollar so well.) Yes, those are ANNUAL numbers.

   A guest editorial calls for “putting an end to bullying”, while the main editorial demands that America develop a “national agenda.”

   The four color two-page spread in the middle of the main news section was for that “Marlboro Man.”

   And finally, the U.S. post office, which ran a $600 million+ surplus for the fiscal year because of increasing volume, promised to keep the price of first class postage at 20 cents.

2. Toomuchpower says:

   June 16, 2021 - 6:29 pm at 6:29 pm

   I say not. Just as an exercise, go out there and try to find a cash flowing commercial RE investment in Ontario? . My point that the smart money is heavily long into real assets and very short fiat. Among my friends and peers, there is quite the sense of panic as they watch their real purchasing power evaporate before their eyes. I have lived this in late 80’s early 90’s eastern Europe. When this sentiment becomes mainstream all of you will be very happy with your shiny pet rocks. It has been forever that the central banksters have fought for fiat survival but this time is very different. Why not see your real assets, especially Au and Ag as an insurance against the wealth taxes ( who can prove that you have it unless it is paper). The moment you see it that way, you will not feel like fool any more. Now if you have a lots of bills to pay and looming debts to settle, sure it would be nice to see it higher in fiat terms. Otherwise it is a nice nest egg, outside the tax mans reach, and you can hedge against and go long what you believe in knowing that you are liquid enough to cover should things go south. Or just grab the biggest bag of popcorn and watch this shit show coming to a close.
   I can tell you that no one here is a fool and you are in better shape that you know. Stop reading every little b BS coming from fed of MS media. All Jay said is that their back is against the wall or he would be raising tomorrow. And you hear from the MS media how fed turn hawkish? By being 0 bound in heavily inflationary environment. You all can see through the narrative. Very soon friends

   • Fullgoldcrown says:

     June 16, 2021 - 7:53 pm at 7:53 pm

     Too Much Common Sense

     Great stuff Sir Power

     🙂

3. Chartsmaster says:

   June 16, 2021 - 6:47 pm at 6:47 pm

   Jawboning 101. Talk out of both sides of your mouth, saying nothing, doing nothing. And that is hawkish. Total BS, that is what the FED does because they are out of bullets.

   • Gold Learner says:

     June 16, 2021 - 8:48 pm at 8:48 pm

     Well said, Sir TooMuchPower and Sir Chartsmaster!

     Read this tweet from Tom McClellan:

     “Talk is cheap.

     Powell said today was the “talking about talking about” FOMC meeting. So the 2nd derivative of talk is worth $44/oz.”

     https://twitter.com/McClellanOsc/status/1405272880972062720

     In his simple chart I see the right shoulder of an inverse H&S pattern formed over about 5 months.

     https://twitter.com/McClellanOsc/status/1405272880972062720/photo/1

     GL