SD Friday Wrap: Best quarter of economic growth since the election and the market fizzles. Here’s a recap including an update in the War on Truth….
Editor’s Note: Just a friendly reminder we are posting SD Metals & Markets on Saturday mornings at 8:00 a.m. EST.
I’m not going to spend a whole lot of time talking about the technicals or fundamentals.
Rather, I want to say something been on my mind lately, but I’ll save it for last.
It’s not a rant either, so just hang with me and you’ll see.
I think you might even find what I have to say useful.
First, however, let’s go over the markets.
We can see that the gold to silver ratio is still in the range I called for several weeks ago:
This is telling me that everything is still where it needs to be, in a consolidation right now.
I’m still calling for silver to outperform gold on this next rally, and as such, I’m looking for the ratio to come down.
We see that gold is basically “unch” from last week:
It’s been one of those weeks – a whole lot of nothing.
Which is one of those reasons why I don’t need to spend a lot of time on the markets this week.
We know what is going to happen.
We’re just waiting on it.
Depending on your threshold for patience.
Here’s that consolidation on the daily chart of gold:
Yeah right, “That’s not consolidation Half Dollar, that’s a bear flag!”.
Well, I’m not ready to call it a bear flag just yet.
I mean, if it is a bear flag, then get ready for $1180, but like I stated, and well before most stated it, I think President Trump inadvertently put in the bottom for gold and silver, and we can see that the low has still held.
So far my call is holding.
Silver is down for a seventh week in a row:
But again, I’m not worried one bit.
We all know what is coming, and it’s a rally, not more pain.
Could there be more pain?
Sure, but I think downside is limited here.
I mean, just fundamentally speaking, were due for a bounce.
You don’t just keep falling in price forever, and, after falling for a seventh straight week, if the bottom was going to fall out, it would have fallen out already, especially after spending nearly six months in the sideways channel of pure agony.
We see the same consolidation in silver on the daily chart:
Which in part explains why my call on the gold to silver ratio has held.
Good times are ahead of us, not behind us.
Palladium is up on the week (although I’ve charted the daily):
And while I didn’t think that palladium would lead the turn-around in the precious metals, so far it is.
Platinum is also up on the week (again I charted the daily):
But like I said earlier in the week, platinum has a lot of work cut out for it.
Platinum still does.
Copper is showing some volatility:
But just like with platinum, for the copper bulls, the base metal has its work cut out for it.
Crude oil is still battling its 50-day moving average:
This is turning out to be a nail-biter of a second half to the year for crude oil.
At least for those who like the tick-by-tick.
There’s so many valid points for both the bullish case and the bearish case, that I’m sure anybody with a stake in crude oil has to be a bit uneasy right now with the price action.
I still think we’re headed to $80 by year’s end, which has been my call for most of the year.
The coming weeks will be crucial for crude oil.
I don’t think were about to see the next “vol-pocalypse” just yet:
But there was a pulse in the VIX today, as Harvey Organ would say.
The yield on the 10-Year Note looks like it might test 3.0% again, and soon:
After that super-tight range from a few weeks back, the 10-Year Note looks like it is finally ready to make a move.
At this point, I would like to direct your attention to a minute and forty-four seconds of President Trump from just today:
We have accomplished an economic turnaround of HISTORIC proportions! pic.twitter.com/vnmMtPv0kk
— Donald J. Trump (@realDonaldTrump) July 27, 2018
You all know my theory – Peak Trump.
So I don’t need to go over that.
But I will say this.
If America has experienced this “HISTORIC” turnaround, and if we are the envy of the entire world (paraphrasing) as President Trump says, then one would assume the dollar would strengthen, and the stock market would too, right?
Well, neither of them did that.
Let’s have a look.
The dollar is up on the week, but down for the day:
And when I say down for the day, I’m talking about the day, as in possibly the peak in my theory of Peak Trump.
So the dollar wasn’t able to muster a gain, even though President Trump is taking victory laps on the White House lawn.
As for the stock market, let’s have a look at the Heartbeat of America Index:
Oh geez, that definitely doesn’t look good.
The Russell 2000 fell though its 50-day moving average today.
Enough of the market talk, I want to get into something that has been bothering me.
You see, sometimes I have a hard way of explaining just how evil the world really is.
But after this week, I’ve found out one simple way to explain it, and it can be done by in relation with what happened to the SGTreport YT channel this week.
Oh yeah, and for the person who emailed me and said I didn’t reach out to Sean because he didn’t thank us publicly, well, like I said, the thank you was a private email, but he thanked SD publicly in his latest video, which kind of wraps up his emotions on the roller coaster ride of emotions that he went on in the week.
It’s a good listen, and it has a lot to do with the point I’m about to make, so I’ll embed it here:
I’ve taken some excerpts and highlighted them in bold:
While it might not seem fair to say you can’t show something because of what viewers might do in response, we draw the line at content that intends to incite violence or encourage dangerous or illegal activities that have an inherent risk of serious physical harm or death.
Videos that we consider encouraging dangerous or illegal activities include, among other things, instructional bomb making, choking games, hard drug use, or other acts where serious injury may result. A video that depicts dangerous acts may be allowed if the primary purpose is educational, documentary, scientific, or artistic (EDSA), and it isn’t gratuitously graphic. For example, a news piece on the dangers of choking games would be appropriate, but posting clips out of context from the same documentary might not be.
That section is where you’re taken when you’re looking at the guidelines for prohibited content that is especially harmful to minors under the heading “Harmful or dangerous content”.
Here’s my point, and no need to preach to the choir, but we all know that Sean is a good guy, a truth teller, a Patriot, and one how tries to wake others up to the reality of what is really going on in the world.
His channel was taken down this week, for no reason stated, even though we all know the reason (Nazi style censorship), and it was reinstated without reason given as well.
That said, the point is YT doesn’t want people watching something that might wake somebody up.
OK, “What do they want people watching Half Dollar”?
As I said, they want people watching stuff that is a major time distraction, such as people streaming their video game play, or rich kids doing stupid things in public.
But really, it’s much more evil than that.
Here’s a video my 13-year old daughter showed me, coincidentally, the night SGTreport was re-instated.
It’s quite offensive, and I’ll spare the details, but most likely you will be offended, and I’ll que it up right at the point where I want to make a point.
Before watching, go back and read that YT stuff I just quoted above, just so this sinks in.
You really only need to watch like two seconds from where I start the video.
If you don’t want to watch it, read the italics under the video to see what I’m talking about.
Here’s what my 13-year old, who we would like to think we are rearing (you rear children, you raise cattle) on the straight and narrow, showed us:
“More coke please” (with head coming up from doing a line and white powder on nose)
First, that video is not flagged “this video may be inappropriate for some users” like some videos are.
Secondly, that’s pretty much promoting things that are harmful to children, such as my 13-year old daughter, right in violation of YT’s own Community Guidelines.
Talk about hypocrisy to the highest degree.
No pun intended.
Now, that channel has 4,200,000+ subscribers.
The video above has 3,000,000+ views.
Here’s the thing – you may be thinking, yeah, but that’s directed for adults.
I would beg to differ.
YTbers like that guy cater to a young audience, and this type of stuff infests our public school system where my kids go to school.
Now, this isn’t a tirade about parenting, it’s about the war on truth.
You see, TY, in all their evilness, is pushing this type of stuff, while censoring truth.
And not only is it wrong to do that, but it’s very evil, because the things they are pushing on the youth is actually pretty harmful stuff.
Furthermore, when my daughter reads something in school about 9/11, it’s the standard fare.
That is to say, she’ll bring home some “required reading” on 9/11, and I’ll read it with her, because we sit with our kids as they do their homework, and I have to stop every single sentence and explain to her why what we are reading is nothing more than pure lies and propaganda.
And I’m not exaggerating or using hyperbole.
In fact, I probably stop and point out the lies at a rate of more than one lie per sentence.
But I digress.
When she gets more interest in government corruption/cover-ups and outright evilness, I’m sure she would like to see some alternative-media videos about the subject matter, but, the powers that be, through these types of outlets, not only don’t want that truth getting out, but they just want promiscuous youth that are into drugs.
And that’s sugar-coating it.
It’s really sickening.
But I digress.
I Just wanted to make a point because it stuck out like a sore thumb this week.
So, if you’ve ever found yourself wanting to explain how YT is evil and censors truth while promoting disgusting, harmful and vile behavior to our youth, just show them that two second clip, and it’s all anybody needs to see.
For everybody who reached out for truth on Twitter, like I said before, we won this battle for Sean by coming together.
And as we keep on stackin’, together, we will crush the cartel.
Because silver is the power of the people.
It’s the people who have the power, not the cartel.
The cartel may have the control, for now, but that’s all they have.
We have the power.
Victory will be ours.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.