A calamity is underway in the gold markets — following super hawkish comments out of a meaningless bench warmer at the Fed — who said he wanted to go fucking nuts and hike by 100bps.
Traders took this cocaine talk seriously and sold the shit out of gold and purchased dollars. Gold is off by more than 2% now.
Comically, the chances of a Fed hike in December are basically unchanged, aside from the fact that someone is betting small that Yellen might lose her mind and hike by 50bps. The chances of that happening is 7.7% — according to recent data.
Naturally, this is cause for alarm amongst most literary circles.
As you were.
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it’s really a generous sale for gold if you’re interested in things like dollar cost averaging…
The odds of a rate hike in December is actually 0.0%. Anything to the contrary is the purest form of bullshit.
*are, not is.
Working the A game.
JNUG the ultimate “four handed pin-less grenade.”*
[* Note: One has to have “monkey feet” w/out socks to hold the second two.]
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I may jump bsck in tomorrow.
if you really want to know what’s really going on, you need to look into the DTCC, which The Fed “mandates that the DTC process every securities transaction in the US.”
http://themillenniumreport.com/2016/03/dtcc-banking-scam/
Dear market gods, thank you for the discount.
If interest rates were headed up, it would be reflected in long-dated treasuries. Ultra-bond futures still above 180.
If OTC derivatives crumble, good assets will be liquidated to cover losses from bad assets. That would be short-run negative for gold.
These fedheads really have an addiction to jawboning…like they are getting something for nothing.