SP, if it starts to accelerate towards $1,000 again, without dropping back into the channel, then I reckon all bets are off as to where it could end up.
Much as I like Sinclair and think he's been bang on with his macro calls, I cringe when he calls for things to happen by certain dates, because he's often been badly off in his timing calls.
Anyway, there's a lot of momentum building in all things gold at the moment. I'm sure the powers-that-be can see this, too.
Timmy Geithner was just humiliated in China, when those Chinese uni students laughed at him, when he said that China's US reserves were safe. There may be one, last attempted pull down, with official blessing, if they can.
The last few days, money has been propping up the equity markets. Now that GM has gone under with no 1,000 point slide on the Dow, they might change their focus.
The bond market is a real spot fire for them at the moment and is probably the next thing they focus on.
The problem is quickly becoming the realization that, when the Fed and the Govt are the only players left in the game, they have to keep all of the balls (banks, bonds, industry, agencies, mortgages, municipals, dollar, and on, and on) in the air. You can do that for a while, but not forever.
They have now been doing this at an every-more frenzied rate since Bear Sterns went under in March 08. Far from being under control and seeing signs of recovery, I see signs of it all spinning out of control. As to exactly when that might happen, I don't know, but before this year is up, I'd bet.
- Forums
- ASX - By Stock
- get set for the $1000 party
SP, if it starts to accelerate towards $1,000 again, without...
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online