Are you people fucking crazy? How is “I AM GOING TO DOUBLE THE FEDERAL FUNDS RATE WITHIN 8 MONTH HENCE” dovish? Just because the Fed has backed off the psychotic Esther George approach to economics doesn’t mean they’re dovish.
Why fight a room filled with lunatics throwing shit at one another?
I tip my hat to you and bid you a good day.
“This is a strong rally and the main catalyst is the return of easy money,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “The Fed announcement yesterday was the latest sign that central banks are going to continue with stimulus. This is putting downward pressure on the dollar, which favors commodities.”
“In the very short term, risk currencies — Asia, commodity currencies — will do well as other risk assets including stocks and oil benefit from the Fed’s dovish stance,” said Mansoor Mohi-uddin, senior markets strategist in Singapore at Royal Bank of Scotland Group Plc. The more interesting trend will be how other central banks respond in the next few weeks, he said.
The consequences of the destruction of your fiat have instilled new life into the limp bodies of hard commodities, some soft too, sending them soaring. From oil to gold to coffee to coal, commodities are measurably higher. A short squeeze has occurred and the inmates and the primates are running the insane asylum.
An anti-climatic misery is just around the bend.
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You mean currencies don’t live in a vacuum?
You mean when we bust up our currency?
It screws with someone else’s?
You mean like it just increases the pressure on other fragile markets i guess?
AND THAT is what they are doing. Yen is getting stronger just when Japan REALLY NEEDS a weaker Yen. That makes exports more expensive, which means CHina will be paying more for them. China DOESN’T NEED COMMODITIES, record level of copper in Shanghai (REMEMBER I HAVE BEEN TALKING ABOUT THE SHANGHAI COPPER BUBBLE SINCE 2009). So, China has to get that Yuan down even more to keep up with that drop in the USD..they NEED to devaluate big time. If they devaluate, then Yen looses again. The rally in AUD, Kiwi is spiking the Pound and Euro…hurting them too. BIG BIG MESS.
Holy crap, I totally forgot about you talking about the Shanghai copper bubble.
Clear that the back-and-forth on devaluation is tightening. August January March. Quicker and quicker countermoves being necessary in the “(astonishment) currency war”. Stock indexes are moved higher to pretend or at least act as if it’s not happening. China/Japan the front row of flak and munitions Ezone close 2nd
http://blog.smartmoneytrackerpremium.com
enjoy!
Moonshot, How could you forget about that lol. FWIW right now there is more Copper in Shanghai then LME…lol. Stupid Bubble.
Anjing…I hope!!!!
Great photo from a classic. Poor sad sack Danny De a Bernie Hack now. Weirdo lib.
Crazy?? Yes. Greedy?? No. Sold half my FCX at 10.89. up another 6 1/2% today. actually was over 11 earlier. lolz. thanks bears.
Just sold it all for now. What a run.
I applaud you on the great FCX trade. At 3.50 or so I remember thinking (and/or someone here saying) that this is a historic buying opportunity. And didnt buy. Tripled. Congrats guys. I think OA was pounding the table on this one too
……copper is among the metals where China actually gains if prices stay lower. The country is the largest copper importer. So, lower copper prices bode well for China. However, lower copper prices would also mean that China mines less copper domestically and relies more on imports—both refined and concentrates. China lacks copper reserves. It would make sense for the country to import more copper instead of producing it domestically when copper prices are trading at multiyear lows. This would mean that Chinese copper imports might not fall much despite the demand slowdown in the country.
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The Shanghai Strategic Copper Reserve……..patent pending /jk
Anjing…The problem is that there is a huge divide between actual demand and the use of copper to secure financing for other loans. In 2009 Chinese New Year I noticed the divergent of that and decided to follow it because it was the embryo of a Bubble forming. Right now Australia and China could stop all mining and still we have a least a year plus in copper. $1.90 next stop down. Actually let me check on how many years of copper we have oversupplied right now.