I happen to be long gold, in dollar terms now, so I am okay with these reprehensible creatures celebrating the death of the US dollar. I will not speculate as to why the dollar is getting ass-hammered this morning, only highlighting the fact that it is happening.
Down nearly 1% v the euro isn’t a garden variety stroll in the filthy streets of Paris. On this dollar agony, gold and silver are both bid higher by 0.4% and 0.8%, respectively.
Ok fuck it, I’ll take a shot at it. Maybe Wall Street is cynically pricing in the fact that Trump’s economic stimulus is DOA? As such, rates cannot go higher, because the economy is about to fucking swan dive into a bag of concrete cinder blocks.
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The US dollar has been treated worse than a battered housewife and will eventually go to zero. Whether this is the start of such a move remains to be seen, most likely not, but it will happen eventually.
Eventually. But before that happens, the USD will go to the moon while all peripheral currencies go to zero. In essence, given USD reserve status, the peripheral currencies are all derivatives of USD.
And don’t forget the part about an asteroid hitting the planet….it’s never as extreme as purveyors of D&G make it out to be. Have faith, friend. It doesn’t get so bad until the seventh bowl of wrath is poured out.
Pitching tobacco-scented candles from TJMaxx in one post to placing the most diabolical picture in decades in the next is confounding me to no end…
ha
I always admire Fly’s transparency up front. He expressed he is long in dollar terms, so we know his exposure. Gartman on the hand tells us after that fact if the trade doesn’t work out – “I was long/short gold in Botswana Pula terms”.
Gartman’s days as ‘commodity King’ are numbered.
Phyz gold under mattress is the turtle. Long gold in paper is gambling.
That’s exactly fucking right. If you don’t have at least 10 oz of gold and 100 oz of silver right where you can fucking reach for it, you’re screwed.
Try to hold onto 300 bucks worth of pre 1964 junk silver (face value) for barter purposes.
Your belt couldn’t hold up your pants if you had $300 of pre-1964 junk silver jingling around in you pockets.
You don’t have to spend it all at once. Asshat. It’s 70% silver the metal value beats down the face value, 2016 election style.