Credit deflation and the reflation cycle to come (part 9)

[ashestoashes]

Just now, ThoughtCriminal said:

Can anyone have a stab at explaining this for me?

Why would the dollar losing oil monopoly cause it to go higher because of large amounts of dollar denominated debt outside the US??

 

 

need dollars to close dollar positions

[Axeman123]

What stood out to me in Powells assets was that he seemed to have a little bit of each providers S&P500 ETF. Smart man, eliminating counter-party risk to a degree. Multiple family trusts also means that if a lawsuit manages to pierce one it is compartmentalised from the rest.

1 minute ago, baffledbyzirp said:

What air brushed version of history are we to be force fed next?

WW2 was the entire world against Russia, including Germany and Japan "thats why it was a world war innit", and "Axis" was just an alternate name for them like "Soviet Union". The little Austrian Corporal will be airbrushed out entirely in favour of a focus on assorted Generals etc, many of whom went on to lead NATO anyway.

[Cattle Prod]

 

Some big players are getting burnt, thanks Shoshanna 

 

Edited April 12 by Cattle Prod

[Cattle Prod]

5 hours ago, Mandalorian said:

I've made more since going to bed last night than I will earn in the first 6 months of this year. 

Good divi payers? 

[leonardratso]

2 minutes ago, Cattle Prod said:

Good divi payers? 

10 guy train probably.

[leonardratso]

hulk smash silver;

[Long time lurking]

5 hours ago, Mandalorian said:

Something is definitely going on.

Just opened the spreadsheet and it auto-updates prices for me.

I have a cell that calculates the total daily change in value.

I've made more since going to bed last night than I will earn in the first 6 months of this year.  (Mostly tax free too!)

EVERYTHING is up.  Including the metals.

Unsustainable?  Who knows?

I'm just going to keep on keeping on.

Iran Straights of Hormuz 

Fear not we are all saved 

[Calcutta]

2 minutes ago, leonardratso said:

hulk smash silver;

How far can they bring it down tho? 

I was just thinking maybe china have nought enough gold now, maybe Iran would like to get started on stage three of the conflict and send oil to $200.

That'd put the dog in the butcher's shop.

Or, more likely, the paper markets crash gold back down and everyone takes a breather till the main event.

[ThoughtCriminal]

5 hours ago, Long time lurking said:

Interesting read ,i`m assuming this is a summary of what was discussed in the meeting between Lavrov and Xi in the last few days the day after Yellen had here arse handed to her on a plate by China 

Basically they are going it alone ,with no fucks given regarding what the west think,my money is on their alternative financial transaction system which they have been trialing for almost a year now is close to being made available to all those that are willing   

All the psyops of the last four years and more have failed 

 

 

That last paragraph of the tweet is perfect, absolutely nails it regarding western hypocrisy.

"But that's not all, it's just the beginning.
In fact, Russia and China have simply turned on the very principle that the US, Europe and all these G7 countries have been using for decades: we know it's not allowed, that it's forbidden, but we're so outraged and everything that's happening is also unfair , that we don't want to know anything - and we will go and do good without being accountable to anyone, even if it is against international law."

[ThoughtCriminal]

Imagine Tesco selling gold bars at the self checkout.

200 million dollars a month Costco are selling. 

 

[feed]

It's all over.   Goldman Sachs rises gold price forecast to $2,700

Goldman Sachs Group Inc. revised its target price for gold on Friday to $2,700 by the end of the year, surpassing its previous estimate of $2,300.

"Despite the market pricing progressively fewer Fed cuts, stronger growth trends and record equity markets, gold has rallied 20% over the past two months. The traditional fair value of gold would connect the usual catalysts - real rates, growth expectations and the dollar - to flows and the price," the bank added.

Investor demand for the yellow metal has soared due to mounting geopolitical tensions in the Middle East and increasing inflation figures in the United States.

Baha Breaking News (BBN) / RR

 

[CannonFodder]

45 minutes ago, ThoughtCriminal said:

Can anyone have a stab at explaining this for me?

Why would the dollar losing oil monopoly cause it to go higher because of large amounts of dollar denominated debt outside the US??

 

 

People need to buy dollars to pay back their debt

As other countries pay in different currency for oil, no need to sell dollars to pay for oil 

No selling, lots of buying, not enough dollars on the market so price goes up.

Dollars that go to pay debt disappear, the opposite of fractional lending. Lending creates money, paying it back destroys it. Dollars disappear back into the void.

Then the rub is when treasuries are sold/swapped/come full term to buy dollars. The point at which the treasury is redeemed, more dollars leave circulation (given by fed to treasury holder who buys dollars from fed account for his treasury which he sells to fed). This is before treasury holder spends them, they are not in circulation but in pocket of treasury holder.

 

[Errol]

Epic price action in gold and silver. Complete nonsense of course, but very amusing nevertheless.

[Axeman123]

42 minutes ago, leonardratso said:

hulk smash silver

Not surprised it didn't go through 30 without stopping. Wouldn't rule out a close at or above 30 though.

[AVERAGEUKBLOB]

The BK has begun

flight to daddy USD has accelerated

The great USA is going to use its momentary new found wealth to remove the interstate system from their cities and restore them to their former non-car brained and financially solvent glory

Gold bless the USA

Edited April 12 by AVERAGEUKBLOB

[Loki]

15 minutes ago, AVERAGEUKBLOB said:

The BK has begun

flight to daddy USD has accelerated

The great USA is going to use its momentary new found wealth to remove the interstate system from their cities and restore them to their former non-car brained and financially solvent glory

Gold bless the USA

[leonardratso]

1 hour ago, Axeman123 said:

Not surprised it didn't go through 30 without stopping. Wouldn't rule out a close at or above 30 though.

hmm no, seems to have lost all momentum now, just staircasing down - 5% nearly blown in a day, lorra money made and lost no doubt.

[Errol]

Interesting to see what happens once Chinese markets reopen.

[Errol]

 

[DurhamBorn]

Paper markets trading.This sort of action will shake lots of weak hands in the miners,thats what we want.EMs are slowly slowly moving to where they will bypass the paper markets.We might even see some big institution go under when they cannot deliver the physical and get caught out thinking the PMs are only moving due to trading,when its much more likely this is the start of a secular bull.Being short silver here looks like a widow maker trade.Incredible risk going on the short side.

[Lightscribe]

1 hour ago, Axeman123 said:

Not surprised it didn't go through 30 without stopping. Wouldn't rule out a close at or above 30 though.

Yeah it’s $30 resistance like I said before. It’s a Friday paper slam down as expected. 

But these will become more and more limited. It will get there eventually, the momentum and direction has been set.

But however, there’s so much weighing against this *not* happening and delaying it as long as possible that they’re going to throw the kitchen sink at it.

Remember this isn’t just about gold and silver. It’s about the BRICS vs the failing west and their banking system and doing anything to try and hold on to power.

Edited April 12 by Lightscribe

[Noallegiance]

We want it this difficult otherwise everybody would be doing it.

[Harley]

.

Edited April 12 by Harley

[GoneDark]

Quite a bitch slap to gold from 16:00.

Doesn't matter anyway as i can't sell what I lost in the boating accident. 

[kibuc]

38 minutes ago, GoneDark said:

i can't sell what I lost in the boating accident. 

Looks like some councils are picking up on the "devastating boating accident" rethoric.

 

"Hackney said that it had lost all of its records about introducing 20mph limits in a devastating 2020 cyber-attack"

https://www.telegraph.co.uk/news/2024/04/12/london-councils-did-not-do-cost-benefit-analysis/