Stacy Summary: The dollar is either imminent toast. Or is it just a last plummet to its ‘major bottom’? Maybe it will reveal more by the time we return in a week . . . yes, it seems we really are going away! Just for a week and I am sure we will be posting new headlines here as often as we can and keeping up to date on comments. Maybe one or two of you want to post guest headlines?
- ZeroHedge: Dollar plummets (this must have been written before that wild turnaround)
Update:
- ZeroHedge: The new dollar normal (indeed)
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@stacy
The kids will be fine; go and enjoy yourselves!
@Stacy: I see fluctuation…”plummeting”???? @3:10EST dollar =79.16
@Stacy: ditto…are you taking a break????or what????? The South of France is lovely this time of year, or the Alps or the Balearic Islands off Barcelona, or if you are friends with the Aga Khan…Sardinia…have fun..
Jeez,thats some spike (11:30)– Ben must have jumped into the helicopter again
I don’t follow at all?
Mike
Wonder if they will dismiss him again?
Harry Markopolos: CDS Fraud Will Make Madoff Look “Small-Time
http://tinyurl.com/oosew3
Meh.
@stacyherbert
Hope you have funn In the sun….. we all wish you well…..enjoy the break…maybe you could do one little tweetcast for us all, it would be great to see you and Max chillin’ sippin cocktails!
@Stacey
Guest post.. Am available from monday
Also..50-60% default rate predicted on commercial mortgages..
http://tinyurl.com/lrm2lw
I’m going to a fancy dress party tommorrow night – I’ll be wearing a blue pinstripe suit, a dodgy tie, a gold bullion coin in my right pocket and a banana in my left.
Who am I?
Dear Stacy,
Good holidays, thanks for the website
always a pleasure to watch you you are so pretty
I crave for listening other interventions of Max !
franck
Not sure I’m going to make it without you guys
Guess I’ll have to listen to Alex more (god, I hate that
I am starting to agree with him more and more).
But do have a good time. We’ll be fine, sitting here
alone in the dark.
-ps
@Danny
If you had a roll of TP to shred and throw around,
I’d say you were Max.
Am totaly lost………..do they expect the $ to start to fall?
Mike
August 20th, 2009
US Gold and Silver ETFs to relinquish holdings to Treasury in last resort move to stave off economic collapse.
As the bank holiday initiated last week nears it’s end, critics accuse the government of less than noble intentions behind today’s seizure announcement. Members of GATA openly charged that the precious metals seized will be used to suppress spot prices. “They’ve set the economy on fire and with this last move, they’re pushing people inside before sealing off the exits.” commented Bill Murphy.
Meanwhile, as the FED decides on how to revalue the US dollar before banks re-open, China’s warships are still en route to “conduct military exercises” near US coastal waters with rumored plans to test a new, until now top secret, unmanned high energy weapons delivery system code-named Iron Tiger.
One Wall Street insider who asked for anonymity suggested the seized precious metals be given the China and other creditors before “things get ugly”. “Your guess is as good as mine as to when banks will re-open, but you’ll see.. What we’ll be seeing, is a devaluation of at least 75%.” He noted. “We can’t expect our creditors to take a 75% hit on the chin without consequences, and the last thing we want to see is everyone printing off paper money in competition to devalue their currencies faster than the others.”
With COMEX closed it is impossible to say what Gold and Silver would be trading for but reports from bullion dealers are of widely ranging prices of $1800 and as high as $3000 US/oz. Silver ounces are going for $50 and up.
Throughout the country grocery stores are empty, and towards the end of the wave of panic, some that weren’t were either looted or had staff bring their remaining inventory to the curb to give away in hope of preventing property damage and injuries.
Interesting times.
Mike… my worthless opinion: USD is believed to have “strong support” further down, around 77.6ish on the USD Index… theres gonna be some defense of that (strengthened by retail gamblers’ assumption of said defense) — so it might take a while longer before we can get all sloppy and hysterical… so far it’s only bounced off that support once. But, maybe fair to say that wild fluctuations like this one will become increasingly normal, if they are not regarded as such already. For brokers, gambling institutions, retail suckers etc, volatility is great! It represents opportunity, and it’s where short-term traders, both human and robot, make their money. (And now it’s obvious that volatility, i.e. INSTABILITY — disasters, systemic collapse, risk management, population control, war contracts, etc — is so important to this new economy in the US). Anyway… free your mind and liquidate your positions now!
Lol thats one hell of a prick/spike stalagmite
http://en.wikipedia.org/wiki/Stalagmite
Wonder if they would be able to draw a better picture with one of these
The dinosaur is the banks and its got a holiday setting.
http://mindnet.org/~kiwassee/ohi0001f.jpg
Danial
Where did you read this rubbish?
Mike
It seems that this liquidity injection was intended for shock and awe as the US government likes to say. Goldman made a ton on puts I think you’ll see rock solid resistance at 1000 on the SP the government doesn’t like to lose money either. The dollar could go either way but I don’t think it will crash. At least I have a understanding of this bizarre move in the stock market
The Goldman Government conflict of interest has to end.
I would love to see a class action law suit against them
hopefully new legislation will address this issue and put a stop to this garbage. Sorry for being so volger before
Market Manipulation Get Me All Rowd Up especial if you ever got stuck on the wrong end.
Be sure your back for the Bank Holiday
http://www.youtube.com/watch?v=1buNJRTOngk
Court throws out FOIA Lawsuit against the Federal Reserve over missing $700,000,000,000
Operation: Kickstart The Federal Reserve Audit!
http://www.operationkickstart.com/
http://www.youtube.com/watch?v=NAVKp8aFEGI
Federal Reserve! The Disease Is In The Name!!! It’s A Rockefeller Corporation!
@Stacy and Max
I have followed Bob Prechtor for several years…..and he is now predicting a continuation of deflationary pressure…Max, you and Bob should square off on TV…..I would PAY for that one. (with doubloons if you prefer) Keep spreading the truth.
Joe
MUST READ very intriguing Story (read it in one breath) You travel to Alaska, Yemen, Australia and learn about many secrets http://tinyurl.com/pqhmw3
Gerald Celente 2.5 Million Jobs Lost Since Obama’s Presidency http://www.truthnews.us/?p=3170
@Max & Stacy Bon vacances!
This strong support stuff sounds more descriptional then analytical..The strong bottom may have a big hole in it…
@Sacramento Joe , i too am a follower of EWI [ b prechter ] but i tend to follow things more out of a sense of morbid curiosity than any real need to know. if as max has said that the economy is like a giant casino then i am much too puritanical to indulge in that kind of entertainment , but i never thought that we’d all end up living in one ,so i guess i have no choice i don’t know what max’s take is on the whole elliottwave kind of thing is but i get the sense he’s not too keen on T/A generally given the current situation . personally i like to use elliottwave as a roadmap so i know where i am going and can plan accordingly , the Elliotttwave idea that our psychology is patterned is fascinating offers a different way of looking at things Elliottwave forecasts i have found are somewhat vague when it comes to short term time frames but long term time frames seem devastating.[ i just use monthly service] in early june 2009 when gold was $980 , US dollar was & 79 cents ,silver was $16 , EWI predictions were for US dollar to rally to mid eighties or test a new low first before rallying , [ Dollar forecast based on exceptionally low Daily Sentiment readings of just 13 % bullish readings for the dollar as opposed to exceptionally high bullish readings for both gold and silver ] june forecast for gold /silver to begin over next few months from june 2009 significant declines based upon extreme bullish readings. 2 1/2 months later this hasn’t really happened but elliottwave is saying that the dollar is ‘ revving ‘ up for strong rise ? and that decline for gold and silver has already begun [gold having completed 5 wave rise from 2000 etc]. this despite what is happening elsewhere in economy and what is talked about on the forum etc , we shall just have to wait and see ? although i perhaps will not be waiting for too much longer . always good to compare notes about this kind of thing with people . anybody else have predictions based on anything ? time to hit the open road !
The thing about vacations is, when you get back you will really be wondering why you ever started doing all this hard work in the first place. So, Max, take along plenty of Vit D, COQ10, and AllicinC. I don’t want to see you let that young thing wear you out. You musn’t get too friendly with the gendarm, or reveal too much to those cadets with the rifles down by the border!!
Oh my, I just had a flash this could be– ” the week that was!”
, It was the worst of times…
“Great meanwhile is the moment, when tidings of Freedom reach us; when the long-enthralled soul, from amid its chains and squalid stagnancy, arises, were it still only in blindness and bewilderment, and swears by Him that made it, that it will be free! Free? Understand that well, it is the deep commandment, dimmer or clearer, of our whole being, to be free. Freedom is the one purport, wisely aimed at, or unwisely, of all man’s struggles, toilings and sufferings, in this Earth. Yes, supreme is such a moment (if thou have known it): first vision as of a flame-girt Sinai, in this our waste Pilgrimage,—which thenceforth wants not its pillar of cloud by day, and pillar of fire by night! Something it is even,—nay, something considerable, when the chains have grown corrosive, poisonous, to be free ‘from oppression by our fellow-man.’ Forward, ye maddened sons of France; be it towards this destiny or towards that! Around you is but starvation, falsehood, corruption and the clam of death. Where ye are is no abiding.
To describe this Siege of the Bastille perhaps transcends the talent of mortals. Could one but, after infinite reading, get to understand so much as the plan of the building?
Paris, you perceive, is to be burnt! Flesselles is ‘pale to the very lips’ for the roar of the multitude grows deep. Paris wholly has got to the acme of its frenzy; whirled, all ways, by panic madness. At every street-barricade, there whirls simmering, a minor whirlpool,—strengthening the barricade, since God knows what is coming; and all minor whirlpools play distractedly into that grand Fire-Mahlstrom which is lashing round the Bastille. Smoke as of Tophet; confusion as of Babel; noise as of the Crack of Doom!
Individuals of classical knowledge propose catapults. Stacy, have you a better idea?
Disconnected from reality people still go around like zombies. I have been ridiculed, moronized and even labeled retarded for claiming the dollar, US and world economy is about to collapse.
But I am enjoying it. Because I know I will LOL at everybody not having more than one brain cell to spare for common sense!