SD Friday Wrap: Oh yeah, and throw in a super-duper awesome trade deal with China, comin’ right up!
Editor’s Note: These charts were set-up around 1:30 p.m. EST, and they do not include price action after that time.
I wrote a quick article this morning before attending a meeting.
Gold & silver were on the move!
I entered the meeting, and silver was above $18.30, looking all sorts of strong, and gold was doing battle at $1,520.
After the meeting I pulled up the charts, and what did I see?
Silver had lost its grip on that closing higher-high, and the white metal’s price was sitting around $17.95.
You can’t make this stuff up!
The cartel does not want a close above $18.05:
And they’re quite willing to whip-up as much paper silver as they want to, just to make sure silver does not (at the time of this writing) put in that higher-high on a closing basis.
Silver’s weekly chart shows a strong move:
Just check-out silver’s 50-day moving average making a b-line towards its 200-day.
Silver performed better than gold this week, as reflected in the falling gold-to-silver ratio:
It looks to me like we’re rolling over here.
Despite the late morning hammer, gold is holding its ground just under $1500:
I’m liking the increasing volume over the past few days, along with the initial surge through the 50-day moving average this morning.
It sure looks like we’re set-up for a break-out!
The US stock market wasn’t the only thing that hit a fresh all-time high today:
The significance of this move in palladium cannot be understated.
That is to say, the cartel actively manipulates the stock market and the metals, and the natural inclination is to rig US equities higher while suppressing precious metals prices.
Platinum is on a tear:
I think platinum is signaling the rally has begun.
I say that, in part, because the commodities in general are bid.
Check out copper:
Copper is on a tear, and the red metal still has room to run before the technicals scream “overbought”.
Crude oil is on the move towards the upper-end of its sideways channel:
I would not be surprised if the crude oil shorts get their faces ripped off.
In fact, I’m kind of expecting it.
Now, the next set of charts is where things get interesting.
You see, if I had to sum up the theme for this week in one word, it would be “Pure Chaos”.
That was two words.
Everybody knows ‘Ol Half Dollar ain’t no dang mathematician!
Using two words instead of one isn’t really math.
Anyway, I think you get my point.
There is chaos erupting all around the globe, and it’s only going to get worse from here on out.
What I said about it yesterday pretty much sums up the reason the world is so screwed-up right now:
It’s pretty easy to understand the problem.
The money is no good…
Gold & silver are money.
Yet people learn the hard way,
The Fiat Currency Crisis has begun:https://t.co/mt4bf5vlfo
— SilverDoctors.com (@SilverDoctors) October 24, 2019
It does seem the fiat currency crisis has begun, and yet, in the “markets”, there’s not a care in the world.
I mean, just check out the VIX:
You’d think people were holding hands in the streets while singing Kumbaya, not shooting others in the back with shotguns from 20 feet away.
But this is the world in which we live.
People learn the hard way, so it will get much worse before it gets any better.
In that context, we got a fresh, all-time record high in the stock market:
I’m not sure about you, but with every tick higher in the major stock market indexes, as the direct and indirect result of the Fed’s interest rate manipulation, I can hear the faint sigh of an elderly person in despair for having to choose between heat for the house, food for the belly, or meds for the bod.
Immediate needs will be met first, but either way, it basically boils down to “pick your poison”.
Well done Jerome Powell!
Powell, of course, is not the sole person to blame for this, but he is the figure head of the central bank that deals in the world reserve currency.
And this type of stuff will get worse and worse over time, as long as we are denied Honest Money.
Some people call it “God’s Money”.
Some people call it “Constitutional Money”.
Some people call it “Sound Money”.
Scientists call it “Au” & “Ag”.
But whatever you call it, honest money is gold & silver.
And the US dollar?
In its current form?
That un-backed, irredeemable debt-based fiat currency?
That isn’t true money at all.
It has been hijacked and turned into pure evil.
But I digress.
OK, “Hey Half Dollar, quit rantin’ man, you said “Rockstars”, not “Rockstar”, so get to your point!”.
I’ll let President Trump make the point himself:
Shredding that six string all over the Middle East.
Let’s summarize all of this awesomeness that’s got everybody without a fear in the markets:
- We have the Fed pumping money into the banking system and ramping the stock market.
- We have President Trump who secured the oil & terrorists and brought the soldiers home.
All we need now is a super-duper sweet trade deal, and we’ve got ourselves a trifecta!
People wanting a rate cut next week are getting nervous when they look at yield on the 10-Year Note:
The yield curve between the Fed Funds Rate and the 10-Year Note has nearly de-inverted (the fed targets the middle of the FFR, currently 1.75% to 2.0%).
I still think this is a dead-cat bounce in the US dollar index:
If that’s the right call, there’s not a whole lot of bounce left in that cat.
Bottom line as we find ourselves here this beautiful fall Friday?
Markets & economies around the world are deteriorating.
It has been just a little too much for some nations.
Which have delved into chaos and rioting.
The US is able to maintain, however.
The illusion seems convincing.
Which is what they want.
The ultimate set-up.
US is no island.
– 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.