Dang PM's went into turbo mode..guess the jobs numbers are out
ttown
Posts: 4,472 ✭✭✭
Down all night and this morning. Looked and all of a sudden it's up 24 bucks+. Lets see if it holds.
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Euro up = $ down = metals up.
Today's dollar chart"
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>this could very well be an indication of insider knowledge on more QE >>
Chucks and I thought it was because: "weaker-than-expected U.S. employment report. Before the report’s release gold prices were posting moderate losses on a corrective, profit-taking pullback."
8.1%
+96,000
FED SET TO PUMP
368,000 DROPPED OUT
88,921,000 'NOT IN LABOR FORCE'
http://www.bloomberg.com/news/2012-09-07/payrolls-in-u-s-rose-96-000-in-august-jobless-rate-falls.html
So we are led to believe their are almost 89 million lazy people? Try getting a job for $10 to $12 bucks an hour when your over 50. Most want young employees and say your over qualified. I've been lucky so far but my GF been looking for 2 years although she's off the dole and dropped off the employment stats. And I'm in a low unemployment state I can't imagine what it's like in some states. I'm not sure how long they can lie. JMO
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Am I missing something?
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<< <i>as a small business owner, I'm unable to find anybody that really wants to work anymore and why should they when hand outs are plentiful (too many to list here in California) >>
Wish you were in Oklahoma, lots of folks here would work, now California with it's cost of living I could see why you'd stay on the dole because you'd need both people working 2 or 3 jobs to pay the bills. Funny when they act like 1 job equals 1 person employed. These low paying jobs anymore you need at least a job and a part time or 2 jobs to come close to make a living wage now days.
Wonder if those that aren't citizens are counted in the employment figure?
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
In God We Trust.... all others pay in Gold and Silver!
<< <i>Daughter on a plane at this moment for a camera operator job on the new Meryl Streep/Julia Roberts movie to be filmed in Tulsa. >>
Tulsa or Bartlesville? I'm not aware of any film in Tulsa at the moment and I work in downtown Tulsa.
Really we both work for oil companies (indirectly now after outsourcing). Cushing is a very small town now if you work on the tank farms, pipelines, or as a rig hand your good to go but any clerical or accounting job is going overseas to the cheap labor and has been for the last 7 or 8 years....
The place is busy.
I knew it would happen.
<< <i>Congrats derryb......... ( I can't find the post) You called a bottom in Gold and Silver about 2 weeks ago. That was a great market call! Hope you made some money on this rally! >>
I will if you decide to return the two tubes of ASEs on their way to you.
Seriously, got heavily into USLV a few weeks ago at 22.00; 38.09 at the moment.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Tulsa or Bartlesville? I'm not aware of any film in Tulsa at the moment and I work in downtown Tulsa. >>
This one
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Every pipeline tankfarm office has staff.
Plains PL
Enterprise PL
Magellan PL
Gavilon PL
Deep Rock PL
Blue Knight PL
ConocoPhillips PL
Enbridge PL
Centurion PL
Sunoco PL (Drumright)
The place is busy. >>
Really I worked at the biggest tank farm in Cushing (field service) they had 1 person doing the office work, you'd be surprised how many people actually work at tank farms. Maybe Homeland security. I haven't worked in Cushing since the mid 90's.
<< <i>Seriously, got heavily into USLV a few weeks ago at 22.00; 38.09 at the moment. >>
How long do you think the run is going to last on this up? Any targets you're shooting for?
<< <i>
<< <i>Seriously, got heavily into USLV a few weeks ago at 22.00; 38.09 at the moment. >>
How long do you think the run is going to last on this up? Any targets you're shooting for? >>
No idea, never able to forecast the fear and greed of fellow traders. Fundamentals say long run, but as I stated in another thread fundamentals determine value - fear and greed determine price.
Target: maximum short term profit. Paper silver requires close monitoring and stops for protection.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Way to hold tight, soldiers!!
And, Sinclair remains the Man.
<< <i>
<< <i>
<< <i>Seriously, got heavily into USLV a few weeks ago at 22.00; 38.09 at the moment. >>
How long do you think the run is going to last on this up? Any targets you're shooting for? >>
No idea, never able to forecast the fear and greed of fellow traders. Fundamentals say long run, but as I stated in another thread fundamentals determine value - fear and greed determine price.
Target: maximum short term profit. Paper silver requires close monitoring and stops for protection. >>
2 weeks and almost double, nothing wrong with that target. Especially when you can do it a couple times.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
As a lot of us see it:
Things are not getting better fast enough
There will be stimulus. A couple more rounds
Stimulus will only make things worse down the road but it sure feels good in the interim
Same as it ever was....................MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Consider:
Nonfarm Payroll Employment rose by 96k compared to estimates of 125k - 130k and a far cry from the average growth of 139k in 2012. Last year the average monthly gain was 153k.
July's NFP number was revised lower from 163k to 141k.
The greatest gains came from the food services and drinking sector. In other words, from waiting tables or bartending. These are some of the most brutal, lowest paying jobs extant.
The labor force participation rate fell to 63.5%, the lowest read in over 30 years. When this number goes down so does the stated unemployment rate. To get to 8.1% unemployment, 368,000 Americans had to drop out of the labor force.
No matter what you hear or read elsewhere, America's job picture is getting worse. Much, much worse
JM
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The greatest gains came from the food services and drinking sector. In other words, from waiting tables or bartending. >>
Food vouchers in action.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>No matter what you hear or read elsewhere, America's job picture is getting worse. Much, much worse. JM >>
But how do we really get them? Do we want temporary artificial stimulous/jobs that don't last or change things for the long haul?
Nothing ever trickled-down to me.
Maybe we have too many demanding too much $, wanting government to take care of everything, less productive, and too many on the dole. To much $ going out to the world when we need it first (coinsidering its our own money!) Too much war and intervention/interferrence, and way too much government and cost and programs we simply don't have the money for (even if they are good causes).
Maybe there is no way to keep supporting what we've been doing.
--
Buy American (wisely) wherever possible, and don't purchase stock or goods from companies that outsource. Occupy everything government and hold each elected official responsible by getting involved. Next vacation, spend the money in the US. These may be difficult, but a whole lot less difficult than whats coming. If you have a job or an edge, hang on to it. Up your 401k % and +PMs. Get more of your money solely based in E-investments to tangibles and land (you can live on). Balance your own budget first. Increase your skill sets. Buy local. Save for your retirement.
What the headline doesn't tell you is that 87,000 of those were created out of thin air via the Birth Death Model. Even during a recession that algorithm is adding about
500,000 jobs per year. Seems to me that old businesses closing the doors would outweigh the new ones. Better to revise later than to give too negative a number today.
If the FED committed to unlimited TBond buying like the EU, would that also send the dollar flying upwards?
<< <i>If the FED committed to unlimited TBond buying like the EU, would that also send the dollar flying upwards? >>
I don't believe so. It's my opinion that ECB QE has a postive affect on the Euro because of concerns on the euro's survival. QE actions there may very well be viewed as attempts to save the euro, thus strengthening the currency.
The Effects of Quantitative Easing
"The Dollar Index has declined 6.2% since quantitative easing was first hinted in December 17, 2008. While there is some negative correlation between the size of the Fed's balance sheet and the dollar index, the greenback is affected by a variety of factors such as US GDP growth, risk aversion and monetary policy of other major central banks. The Japanese yen and British pound have also been debased in their own versions of QE, and thus a stronger decline in the dollar has been muted. We can conclude that quantitative easing has been negative for the dollar, but the effect has been muted and distorted by other factors."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Please just let me enjoy the fruits of the weaker dollar in peace...............MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
a "bull" trap !!!
<< <i><<If the FED committed to unlimited TBond buying like the EU, would that also send the dollar flying upwards?>>
Please just let me enjoy the fruits of the weaker dollar in peace...............MJ >>
Yes, MJ, go in peace, enjoy your PM escalation meditative near-numismatic stress-numbing nirvana while I will be inventorying my palladium.
And girding my loins for NFL Sunday!
Miles
Nothing has changed since then, in fact, it's even less now with satellites controling valves and the accounting is outsourced out of the Country. Trust me, I live it.
If people only knew how little it can take to get into a tank farm and the damage that could be done, it's amazing nothing of significance seems to happen.
As long as enough market participants believe that it will happen then the markets will react accordingly per their buying trends based on that QE3 expectation.
Question, if no Black Swan event and Bernanke still holds pat come mid October what will be the market fallout ?
Are we to suppose that bernanke is truly non partisan and the election has no intrusion upon his mind? If that is so, then he may just hold pat to help in justifying his job if the election goes Romney's way.
I'm running out of time though.
<< <i>I haven't changed my sig in over a year.
I'm running out of time though. >>
Your sig line is fine.
As soon as QE2 ended in June of last year, behind the scenes QE commenced. One should call the M2 increase in 2011 QE3 (+$1 TRILL or +10%) as it was LARGER than QE2!
Then there was the +$100 TRILL in otc interest rate contracts that the big bank added on last year to totally skew interest rates into the first half of 2011 while totally confounding
Pimco and Co. That was QE4. Then there were the large Euro swaps which could be called QE5. During 2011 it appears five QE programs were all going on. The FED's operation
twist could be called QE6. There's probably a QE7 in progress that is much better hidden than these programs. Once the elections are over than assinging names to QE programs
already in progress will be more palatable and less risky for sitting politicians.
So I'm looking for a name for QE7 which appears to have been in effect for at least a couple of months now. Commodities have sniffed something out here. There will likely never be
a formal name given to something called "QE3." That would be political suicide for anyone approving it as such. As Sinclair has repeatedly said, it's QE to infinity. By my count
we're at least up to 7. QED.
Nothing has changed since then, in fact, it's even less now with satellites controling valves and the accounting is outsourced out of the Country. Trust me, I live it. If people only knew how little it can take to get into a tank farm and the damage that could be done, it's amazing nothing of significance seems to happen.
I've been involved in the pipeline industry since 1987. It's been a very good run.
I knew it would happen.
Well you've got 8 years on me, and I will agree it's defintely provided a blessed life, but it also has forced many sacrifices.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>
<< <i>I haven't changed my sig in over a year.
I'm running out of time though. >>
Your sig line is fine.
As soon as QE2 ended in June of last year, behind the scenes QE commenced. One should call the M2 increase in 2011 QE3 (+$1 TRILL or +10%) as it was LARGER than QE2!
Then there was the +$100 TRILL in otc interest rate contracts that the big bank added on last year to totally skew interest rates into the first half of 2011 while totally confounding
Pimco and Co. That was QE4. Then there were the large Euro swaps which could be called QE5. During 2011 it appears five QE programs were all going on. The FED's operation
twist could be called QE6. There's probably a QE7 in progress that is much better hidden than these programs. Once the elections are over than assinging names to QE programs
already in progress will be more palatable and less risky for sitting politicians.
So I'm looking for a name for QE7 which appears to have been in effect for at least a couple of months now. Commodities have sniffed something out here. There will likely never be
a formal name given to something called "QE3." That would be political suicide for anyone approving it as such. As Sinclair has repeatedly said, it's QE to infinity. By my count
we're at least up to 7. QED. >>
So your saying the behind the scenes or muted as far as reported goes stimulus will never be officially anounced and the markets will be responding as it has (moving up) leaving john doe 401k man sitting on the sidelines wondering why the markets keep going up. Is that basically what your saying?
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
on how to flood financial markets with liquidity.
So your saying the behind the scenes or muted as far as reported goes stimulus will never be officially anounced and the markets will be responding as it has (moving up) leaving john doe 401k man sitting on the sidelines wondering why the markets keep going up. Is that basically what your saying?
Pretty much so. It may at some point be officially announced but I wouldn't hold my breath. The last thing they want to do is to give all clear notice to speculators to start driving up the price of commodities again. There's enough hidden QE money already doing that.
<< <i>You forgot cash for klunkers
And Bush II gave away free gas, to boot!
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Well, if you're buying the debt of Spain, Italy and potentially France (not to mention Portugal or Greece), there is a lot more problem debt to buy than there is debt you would be able to sell, such as Germany's or Sweden's, or the bonds of some other, more fiscally prudent country. And you obviously can't be selling the same government's debt you are buying and expect to provide any relief.
That means it simply can't happen. Obviously, when you contemplate unlimited purchases, you need to realize that it is literally impossible for you to sell an unlimited quantity. It doesn't even work in theory, and in practice it really won't work. Draghi claims he is going to sterilize his purchases.
Is this something that everyone needs to catch on to and will it bring the stock market back down again including PMS?
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Excerpt from the article you posted:"Meanwhile, folks need to have protection from the world's central bankers in the form of hard assets".
He wasn't specific on what hard assets, but I'm sure Silver and Gold are the two he holds dear in his investment makeup.